Meanwhile Liverpool's plans for a new stadium in Stanley Park are still on the drawing board as they wait for a new planning application to be approved and aim at an opening in 2010.
Parry said: "We have been saying for years on a match-by-match basis we are too far behind Manchester United and now Arsenal too. If we are to continue to compete then a new stadium is vital.
"The only reason we want the new stadium is to generate extra revenue. It's not about building monuments or vanity, it's about hard-headed common sense to generate more revenue to enable us to be competitive."
Parry was speaking at the official launch of the club's new television channel, LFC TV, which he hopes will continue to spread the word worldwide in the same way that United have enjoyed success with MUTV.
Parry added: "We know we've got tens of millions of fans worldwide and that is a legacy of success in the past decades. It is a legacy we can build upon but you don't achieve that overnight.
"It is about sustained success. We know that brings a worldwide following and it's a place we want to be. The Premier League becomes ever more competitive and it is ever more challenging, but we can be up there with the best."
