Stream🦩ing-video service spending trends might be the latest indic🌟ator of an increasingly cautious U.S. consumer, according 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,” Bank of America rep♛orted. “However, as some consumers become more value-focused, competition between 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官方开奖结果体彩网:stretched” shopper. 

While the share of households with at least four streaming services has 🦂risen since July 2021, Bank of America said, most of that increas🅺e 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 crackdowns by streaming providers than people choosing to add new servi🎃ces,” the bank’s report said. 

Some Streaming Services Could Still Offer Value

Netflix (NFLX) has said it will 澳洲幸运5官方开奖结ꦰ果体彩网:stop reporting quarter🎉ly subscriber numbers next year. Still, it and꧋ other subscription services may be able to withstand some pr♐essure 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."