New numbers from Parks Associates Research Group show that not only is streaming on the rise, but one streaming service isn’t enough for many homes.
Among US homes that have broadband, over 30% subscribe to multiple streaming services, while well over half (63%) have at least one subscription.
The most popular combination pairing is Netflix with Amazon Video, with 12% of homes having that combination. No real surprise there, as Netflix is by far the leading streaming service, and many people subscribe to Amazon Prime for the other benefits as well.
More research from Parks showed that the average amount that a home spends on streaming subscriptions is $7.95 a month, not coincidentally the price of the lowest tier of Netflix or Hulu.
Beyond pay TV, it’s estimated that U.S. homes spend $29 per month on average for “incremental video” entertainment (only 80 cents per month on video downloads though).
If customers are willing to stack their streaming services and still save substantially on the price of a cable TV subscription, that says a lot about the state of the TV industry today. You can see this in action when you take a look at the fact that over 70% of television networks today say they’re seeing a decline in paid subscribers.