The number of video services used in American households fell during the second quarter (Q2) of the year compared to the same time period in 2023, according to the latest TiVo Video Trends Report released this week.
The report shows the number of total video services used in American households is around nine, down from nearly 11 reported during Q2 2023. Among paid services, Americans are using an average of 5.7 video services, down from 6.9 reported in 2023 and 6.7 in 2022, TiVo said.
The company includes a number of video platforms as “services,” including subscription video on-demand (SVOD), advertising video on-demand (AVOD), free ad-supported streaming television (FAST), cable, satellite, streaming cable-like services and broadcast TV, among others.
Among premium services, the average total spending for pay television fell to $140 per month during Q2, down from $170 in 2023. The price reflects continued spending among cable and satellite subscribers who appear to be taking advantage of bundled offerings from streaming services, broadband providers and wireless phone companies, where multiple services can be purchased at a discount price.
Cable and satellite subscribers continue to pay the most for their services, with the average receipt from pay TV and similar video services reported at $178 per month, according to TiVo, down from $208.54 reported in 2023. Broadband-only subscribers pay around $65 per month for their video needs, relatively unchanged from the average spending logged over the past two years.
Streaming video continues to chip away at cable and satellite’s lead, with TV and film fans enticed by comparative lower prices. But while they might be shelling out less for streaming video compared to cable, streamers are encountering other pain points, including trouble finding something to watch.
Nearly 73 percent of people surveyed by TiVo said they browse across multiple apps in a typical viewing session in order to find something to watch, an increase of 13 percent compared to Q2 2023. Around half of all respondents said they “find it annoying to browse multiple apps before finding settling on something to watch,” TiVo said.
The TiVo Q2 2024 video trends report is available to download by clicking or tapping here.
