Internet household spending on streaming subscription services has declined 25% to US$73 per month versus US$90 in 2021, according to new research from Parks Associates.
New research from Parks Associates shows that 51% of connected TV (CTV) device owners in the United States, roughly 44 million households, engage in commerce-related activities on their TV today.
Annual sports OTT subscription revenue in the United States was US$13.1 billion in 2022 and will almost double to approximately US$22.6 billion in 2027, a 73% increase over the next five years, according to Parks Associates.
Cost is the main factor driving adoption of ad-supported video services, with nearly 50% of users citing the free price as their top reason for using the service, according to Parks Associates.
Almost one-fourth of US internet households agree that pirating content is acceptable, up from 14% in 2019, according to Parks Associates’ latest consumer data on video habits.