There has been a lot of talk recently about the growing cost of streaming. Now we have a new study from Parks Associates showing that cord cutters are spending less on average now than they did back in 2021.
According to Parks Associates, the average cord cutter now spends just $69 on streaming services, down from a high of $90 in 2021.
“Consumers are trying new services – they’re hopping in and out based on the season for sports, fresh content offerings, and the deals and bundles offered,” said Elizabeth Parks, President and CMO, Parks Associates. “Currently we see 32 million US internet households hopping around with various services, and retention and churn will continue to challenge the industry.”
From the study, it seems that during the pandemic, cord cutters were willing to subscribe to more services. Now in 2023, they are cutting back and paying for fewer services.
Surveys of Cord Cutters readers have shown that the average cord cutter now subscribes to 3 to 4 paid streaming services. During the pandemic, with everything shut down and people, home customers subscribed to more, now they subscribe to fewer services.
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