Americans are making significant investments to fulfill new TV content cravings; but how much is too much? At Mohu, we wanted to better understand how and where people were spending money on watching television, so we surveyed 1,200 consumers to understand trends and investments in the TV-viewing experience, their evolving TV subscription habits, and the new demands for TV content.
Here are a few of our key findings:
- Most Americans subscribe to more TV services than they did last year (59%) and 81% currently subscribe to 2+ services.
- 3 in 4 Americans currently subscribe to different TV services to access a variety of content, and nearly 4 in 5 have subscribed to a new service just to watch one particular show or movie.
- Investments also go toward optimizing the home viewing experience, with Americans purchasing new devices (75%), such as a new television (86%) or streaming box (81%). Another 64% have purchased new furnishings to enhance at-home viewing.
While Americans are spending more on TV services, 2 in 5 plan to cancel at least one subscription within the next six months and they cite cost as the primary driver (80%). In addition to canceling subscriptions, many are getting creative with fulfilling their TV cravings with tightened budgets, such as:
- Leveraging free trials (55%)
- Sharing subscription logins (48%)
- Tightening budgets for personal spending and activities (48%)
- Cutting the cord altogether (54%)
Our televisions have become a lifeline, but high costs are pushing many Americans to look for new options. As the leading provider of TV antennas to watch free network channels, we’re committed to supporting consumers’ cord-cutting journeys and allowing them to reduce monthly TV costs while maintaining access to essential TV programming.
Click HERE to read our full report.