More than one in five US internet households belong to a
health club or studio
DALLAS, May 21, 2024
/PRNewswire/ -- Parks Associates' consumer data reveals consumer
spending on service subscriptions continues to increase across
categories, including entertainment, food delivery, and fitness.
Subscription Memberships & Bundling: Shopping, Video,
Gaming, Mobile, an online study of 8,000 US internet
households, finds more than one in five Americans belong to a
health club or studio and they are spending more than $44 per month.
This Quantified Consumer study examines adoption of paid
membership programs, spending on memberships, and interest in new
bundled services. It also identifies perception of value and
consumers' willingness to move between internet and mobile service
providers to access new bundled services. Currently, 89% of
households have a streaming video service, and 32% subscribe to a
streaming audio service. One in five internet households subscribe
to a gaming service, while 16% have a gym membership.
"Traditional gym memberships are still growing, but the fitness
sector has expanded to include more types of subscriptions," said
Mindi Sue Sternblitz-Rubenstein, VP,
Marketing, Parks Associates. "Fitness subscriptions can provide a
more holistic health picture, as they often track various wellness
indicators and sync with wearables and other connected health
devices (e.g., connected weight scales, glucometers). Of course,
consumers must use these features to get the benefits."
The study notes that while many services provide long-term
savings, many benefits are unused. On average, only 62% of
subscribers across categories — including fitness — say they use
all the membership benefits offered, creating opportunity for
better value.
Tech ecosystem players compete in similar subscription
categories, but their service designs and deliverables are unique.
Apple, Google, and Amazon aggregate and offer subscription services
across entertainment and productivity benefits. This includes
fitness benefits such as Apple Fitness, Fitbit Premium, One
Medical, and RxPass. Apple and Google also allow consumers to have
the same or more robust versions of their services separately.
"With the decline of pay TV, internet providers seek new ways of
acquiring and retaining subscribers," Sternblitz-Rubenstein said.
"Out-of-the-box thinking on bundled offerings can help decrease
churn and increase the lifetime value of the customer."
To schedule an interview with an analyst or to request specific
data, please contact Mindi Sue
Sternblitz-Rubenstein at
mindi.sue@parksassociates.com or 972-490-1113.
About Parks Associates
Parks Associates, a
woman-founded and certified business, is an internationally
recognized market research and consulting company specializing in
emerging consumer technology products and services. Founded in
1986, Parks Associates provides business intelligence and research
services through its proprietary methodologies developed over
decades, including quarterly surveys of 10,000 internet
households.
The company's expertise crosses many industries: home security
and smart home, streaming video, broadband and pay-TV services,
digital media and platforms, gaming, Wi-Fi and home networks,
connected health, support, consumer electronics, home control
systems, energy management, and tech solutions for the
multi-dwelling (MDU), small-to-medium business (SMB), and
commercial building markets.
Each year, Parks Associates brings thousands of leaders together
for its webinars and annual events. The firm hosts the annual
executive research and strategy conferences CONNECTIONS™, Connected
Health Summit, Smart Energy Summit, Smart Spaces, and Future of
Video. https://www.parksassociates.com
Follow Parks Associates on LinkedIn, Facebook, and
Instagram.
Mindi Sue
Sternblitz-Rubenstein
Parks Associates
972.490.1113
378053@email4pr.com
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SOURCE Parks Associates