While content viewing trends are increasing, consumers are still staying mindful of their budgets when it comes to TV services. According to data from Antennas Direct, the majority of consumers’ monthly TV service bill is less than $50, which evens out given that the average person subscribes to four streaming services. Most subscriptions average out to cost somewhere in the $10 range, so $40 isn’t an unreasonable expectation for what you could spend on your monthly entertainment.
The fact that most people spend under $50 on TV indicates the dropping rate of consumers using traditional pay-TV services. Cable bills easily cost upwards of $100 a month.
The study also found that 60% of Americans share their streaming service accounts with friends and family to save money. Of those, 73% say do it to make streaming more affordable for those they’re sharing with, and 65% say they share the subscription to reduce costs in their own budget.
Consumers are also staying mindful of price when it comes to what they’re watching on. Many Americans still don’t consume TV in 4K, with the majority citing the cost as the reason. Fifty-one percent of survey respondents say they can’t afford a 4K TV, and 35% can’t afford a 4K subscription. Currently, 58% of Americans are watching TV in 4K.
While Gen Zers lead 4K adoption (71%), they are also the most likely to face issues with affording the higher resolution service (53% can’t afford a 4K TV).
So what are people watching in 4K? The majority (91%) are watching feature films, followed by live events (73%) and live sports (71%).