Research by ScotPulse confirms more and more viewers in Scotland are planning to cut out subscriptions to TV and streaming services to save money.
The STV-commissioned survey indicates how the rising cost of living is driving Scottish households to drop subscription video-on-demand or other TV services. The majority of households either have, or plan to make cuts.
- Almost two thirds (64%) of SVoD subscribers have, or are planning to, cut back or cancel their services.
- Nearly half (47%) of those questioned plan to spend less on TV entertainment subscriptions (such as Sky, Netflix, Disney+ – and so on).
When asked for their thoughts on future usage of services,
- 52% planned to use fewer Paid-for TV services
- 48% planned to use fewer SVoD services.
- This compared with three quarters (75%) who planned to use free-to-view services at the same level, and 14% who planned to use free TV services more going forward.
The ScotPulse findings are supported by the Q2 2022 figures from the Barb Establishment Survey on subscription video-on-demand (SVOD) uptake. It showed SVOD subscriptions across homes in Scotland and the UK are starting to fall (versus Q1 2022). The drop in Scotland is sharper than elsewhere in the UK.
Kathleen Wiseman of ScotPulse commented:
“With the current economic backdrop causing consumers to examine their spending habits, it’s clear from our research that TV subscriptions is one of the areas where people can reduce their costs, with 64% of respondents stating they have or are considering cutting back or cancelling their SVoD packages.”
And STV appears to be benefitting from this development. Its latest update to shareholders reported a 7% increase in active STV Player users year-on-year.