Recent times have been tough for many people financially, as many prices of goods or fuel have been on a steady upward climb. This has been reflected in what consumers now spend their money on, and a recent study has found Netflix users cutting back on other Pay TV services.
An article on Marketwire is reporting that a survey by The Diffusion Group found that the amount of users who stream Netflix content, and are considering cutting back has doubled in the last twelve months.
Back in March a group of adult broadband users that pay for cable, satellite or telcoTV service will downgrade to a lower service in the next six months. Netflix users who were thinking of downgrading their paid service had gone up from 16% in 2010, to 32% this year.
Netflix has tried to reassure Pay TV operators that its service is not a threat, but research has found its service is leading to downgrades as well as cancellation of Pay TV is growing. It was found that 24 percent of Netflix streamers put financial concerns down as the reason for downgrading.
Consumers are increasingly looking to different ways to get media content with the internet leading the way. Services like Netflix allow users to get digital media almost anywhere, and when they want it so not being tied to a schedule. Are you thinking of cutting back on Pay TV services due to services like Netflix?