A survey by Mohu has revealed that 2 in 5 Americans will cancel one TV subscription to a streaming service in the next six months to cut back on spending. The survey gathered 1200 Americans who have TV subscriptions to at least one service.
The researchers found that the average participants watched TV for about seven hours a week. However, 35% of them watched TV for more than seven hours a week. Another 86% had bought a new TV this year. In addition, about 64% set up their furniture with their TV in mind to optimize their TV watching experience.
Americans have multiple TV subscriptions
About 4 in 5 respondents had one streaming service like Apple TV, Fire Stick, Amazon, or Roku. However, 59% were subscribed to more services this year than last year. About 44% subscribed to more than four services.
About 80% of the respondents plan to cancel their subscriptions because the cost of the TV services is higher. Another 80% say that the service no longer has their favorite content and they don’t enjoy the remaining content.
Approximately 3 in 4 have had too many difficulties with their subscription devices. Another 2 in 3 have challenges navigating the product.
TV access is vital for Americans
Many viewers watch their favorite shows while not subscribing to a service. They do this by using free trial periods (55%) and sharing login information with family and friends (48%). While 48% have reduced spending on other areas of their lives to keep their subscriptions, others have cut back on subscriptions (54%).
According to the founder and CEO of Mohu and Antennas Direct, Richard Schneider, TV has become vital for Americans to have access to a TV as it helps them stay current on the news. However, it has become expensive to subscribe to TV services.
Many respondents preferred to have options in streaming services as 74% subscribed to more than one service to enjoy more programs. Others would subscribe to a channel to watch one program. Another 4 in 5 had canceled a service as they did not like the options.
About 63% said they used both streaming and cables services as only cable provided them with national or local news.
