According to Ericsson ConsumerLab’s annual TV & Media report, Digital streaming services like Netflix and Amazon Prime Video are not the main reason broadband users are ditching pay-TV packages. The report reveals that almost half of broadband household users globally are cutting the cord because they are fed up with shelling out high prices for pay-TV packages. The report highlights what cord cutters value when paying for subscriptions and reaffirms the ways cable companies can draw TV defectors back in.
Here are some key takeaways from the report:
- Viewers find traditional TV packages too expensive. 47% of global respondents got rid of their pay-TV packages because they needed to save money. And 33% of respondents said they did not watch enough TV to justify the cost of a package.
- Viewers want to choose what they want to watch, when they want to watch. 16% of respondents said that they were frustrated they couldn’t customize their pay-TV packages to pay only for programming they actively watch.
- A surprisingly small number of viewers ditched pay-TV packages because they subscribed to a video streaming service. Only 11% of respondents said they cut the cord because they were already paying for internet streaming services like Netflix and Amazon, suggesting that lower prices or à la carte programming options would likely keep many viewers paying for traditional TV packages.
Image and article via Business Insider