Streaming-video service spending trends might be the🌼 latest indicator of an increasingly cautious U.S. consumer, acco🤪rding to new research. 

A Bank of America Institute report based on internal data, released Tuesday, suggests that total streaming spending has cooled this year, while the number of households with more than one monthly streaming payment has also fallen. 

“From here, the overall consumer spending story will be important,ಞ” Bank of America reported. “However, as some consumers become more value-focused, competition bet🌌ween streamers may heat up.”

More Focus on Value Among Consumers

The concept of a value-focused consumer has been heard in recent months. One report used the phrase “tapped out.” In China, executives referred to a “rational” consumer at Temu’s parent company yesterday. Fast-food companies have increased promotions to bring inflation-weary diners back, while other consumer-focused companies have described a “澳洲幸运5开奖号码历史查询:stretched” shopper. 

While the share of households with at l꧃east four streaming services has risen since July 2021, Bank of America said, most of that increase came before July 2023. 

“This suggests to us that the overall increase in streaming spending per household is more likely to be due to price increases and password-sharing c🧜rackdowns by streaming providers than people choosing to add new services,” the bank’s report said. 

Some Streaming Services Could Still Offer Value

Netflix (NFLX) has said it will 澳洲幸运5开奖号码历史查询:stop reporting quarterly subscriber🔯 numbers next year. Still, it and other subscription services may be able to withstand some press💫ure on the consumer wallet, according to analysts.

"In terms of macro and the consumer, while Netflix is certainly not immune, we believe the service represents compelling value, even with ongoing price increases," JP Morgan analysts wrote earlier this month. "And we generally view subscription services like Netflix (and Spotify) as being more resilient during periods of macro pressure."