The majority of consumers in the U.S. and Canada are no longer interested in hefty pay TV packages filled with channels they don’t watch, reports techcrunch.com.
According to a new study from TiVo out this morning, 77.3 percent now want “a la carte” TV service – meaning, they want to only pay for the channels they actually watch. And they’re not willing to pay too much for this so-called “skinny bundle,” TiVo found. The average price a U.S. consumer will pay for access to the top 20 channels is $28.31 – a figure that’s dropped by 14 percent over the past two quarters.
TiVo’s findings are based on larger study of video trends across North America, which involved a survey of 3,081 respondents over the age of 18 in Q1 2017. The majority of respondents in the study (84.8%) reported they still had pay TV service, but the number of those who said they had cut the cord (21.8%) had grown by 4.4 percent from TiVo’s report a year ago.
Around half of the cord cutters (45.6%) said they use an antenna to get their basic channels, and an even larger majority (57.6%) said they’re using an internet streaming service like Netflix, Hulu, or Amazon Video.
What’s more notable is that the subscribers to these over-the-top services are climbing. They’re also spending more of their time binge watching their way through their shows, and getting addicted to their original content.
Not only did the number of over-the-top and subscription service subscribers increase by 10 percent since the last quarter, those who said they prefer to binge shows was also up by over 8 percent.
TiVo’s study attempted to determine what’s driving cord cutting, as well. This follows a comScore report from earlier this week, which pointed towards financial reasons, as well as a desire to just watch less television in general, among U.S. cord cutters.
The TiVo report generally backed up those findings, noting that people’s biggest reason for cutting the cord was the price of pay TV. Nearly 80 percent said that pay TV is just “too expensive.”