New research from Parks Associates shows that the overwhelming majority of broadband households now have at least one SVOD subscription. That’s up from 76% in Q1 2020, and 70% in Q1 2019. In fact, most people subscribe to about four streaming services and pay a monthly bill of around $47 for them.
However, there are those few 18% of people who still haven’t taken the cord-cutting plunge and don’t have any SVOD services in their homes. We’re talking not so much as a Netflix or Hulu subscription. So who is this unfathomable 18%?
The majority of this crowd are older viewers who still prefer watching traditional TV. About 77% of them are above 55, and half of them are retirees. You would think that having that much time on your hands would be the ideal situation for signing up for multiple entertainment options, but not for these folk. People in this demographic are also less likely to have kids in the home. Only 7% of them have any children under 18 at home, meaning 93% are adult-only households.
Another thing to note is that people without any SVOD services in their home are also less affluent. Almost 75% of them make under $75K a year. Again, another reason you’d think they’d want to save money by cutting the cord. Cable bills can start anywhere around $100 a month, while streaming services can start as low as single digits.
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