Large Percentage of US Homes Subscribe to 4 or More Streaming Services
Whoever coined the phrase “subscription fatigue” clearly has not met consumers in the United States.
According to a report published by Parks Associates, 46 percent of US homes with broadband-level Internet connections subscribed to four or more streaming services. This more than doubles last year’s number of 22 percent and dwarfs numbers from years prior.
Also growing is the number of Americans with at least one streaming service subscription. About 80 percent of Americans now have at least one service, with that number steadily growing since a 2016 report indicated about 60 percent of American households had a subscription.
Obviously, the number of streaming subscriptions exploded once the COVID-19 pandemic hit and Americans were stuck inside their homes, but what’s interesting is that people aren’t so quick in dropping their new services — despite reports indicating otherwise.
The rise in ad-supported options could also be at play here. With less expensive options available for streaming fans who want to enjoy Paramount+, HBO Max, Peacock, or Hulu, viewers can now subscribe without worrying about multiple $14.99 fees hitting every month. Reports have found that viewers prefer ad-supported options, and don’t mind ads when they’re paying less per month.
Whether consumers want them or not, more streaming services are on the way. Bally Sports is looking to launch its own DTC sports streaming app before the 2022 MLB season, as more and more cable providers drop their RSNs from their systems.
The new, as yet-to-be-named service from Discovery Warner Bros. will be another streaming option coming in the future. Games Workshop is even planning a Warhammer-themed streaming service, with content based on the tabletop role-playing game “Warhammer 40,000”.
With the services coming in the future, Parks Associates might have to open up their groups to include those with five or more subscriptions.