Average SVOD Cord-Cutter Spending $85/Mo.: Parks
Though cost concerns drove many from traditional pay TV, cord-cutters spend an average $85 monthly for online pay-TV or stand-alone over-the-top services, reported Parks Associates Thursday. OTT services “are delivering on the promise that they can offer desired video content…
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at a considerably lower price,” said President Elizabeth Parks, “but we find 47% of cord-cutters subscribe to four or more OTT services.” Consumers are creating their own video bundles by stacking OTT services, she said. Cord-cutters spend nearly double monthly on OTT services as cord-nevers, which Parks pegs as a 6 million audience. Cord-nevers are less likely to own streaming video products such as smart TVs and streaming media players, while 58% of cord-cutters own a smart TV, equivalent to the national average.