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Consumers’ Monthly Streaming Service Spending has Doubled Since 2018

Streaming popularity has skyrocketed in the last few years. New research from Parks Associates shows that consumers keep adding new services and are now paying double on monthly subscriptions than they were three years ago.

According to the report, U.S. broadband households spent $16 a month on average for OTT streaming video services in early 2020, twice as much as the $8 they were spending in 2018. That number actually sounds conservative given that each US household now subscribes to an average of four streaming services

Throughout the early 2010s, the amount of money people were spending on OTT subscriptions hovered in the single digits with the first significant jump occurring in 2016 reaching $8/month. After a couple years of plateau, 2019 saw major a major spike that shot that number up to $14, ending Q1 of 2020 at $16.

“We saw an unprecedented acceleration of consumer interest in aggregators and [online TV] in 2020, and there’s still a lot of room to grow viewership – especially through exceptional content discovery, 47% of viewers still turn to traditional pay-TV to find their next show, compared to 18% for [online TV],” said Nic Wilson, head of customer success at TiVo.

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