ELLISVILLE, Mo.—When people were forced to quarantine in their homes over the last year, investing in TV and streaming services was a popular way for many to stay informed and entertained. But now that Covid-19 vaccines are allowing the world to slowly open up again, many consumers are planning to reduce their spending on TV services, according to a new study from Antennas Direct.
In its “Post-Covid TV Viewership” report, Antennas Direct found that during quarantine two out of five consumers said they limited spending elsewhere to better afford cable and streaming subscriptions. Now, four in five admit they will need to cut back on these TV services post-Covid to pay unaddressed bills or household utility costs, while others hope to use that spending on other activities.
Asking more directly what consumers plan to do, Antennas Direct found that half intend to keep all of their TV services post-Covid, while one in three already have plans to cut cable or streaming services and two in five plan to cut more than one type of service. A quarter of respondents want to get their monthly TV spending down to around $50 per month.
“While Americans have tolerated the financial strain that has come with subscribing and sharing services, this simply isn't feasible in the post-COVID world,” the report said. “Our research shows that many plan to cut services and lower costs to fund household expenses or experiences outside of the home. This doesn’t just hurt providers, it hurts consumers who are forced to choose between paying their electric billing and having access to their local news to stay informed.”
Antennas Direct then notes that over-the-air TV, which it works to provide OTA service via digital antennas, is an avenue that consumers can go to maintain access to some of the services cable and streaming provides while cutting costs.
For the full report, visit Antennas Direct’s website.
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