Sports defy financial pressures and drive subscription growth in the UK

Despite financial pressures, 82% of UK TV consumers will maintain or increase spend on sports viewership over the next year, according to a new study from consumer insights provider Toluna, cited on Rapid TV News. The “Economic Outlook for Technology, Media, Telecoms, and Entertainment Sector” report explored the impact of the current economic turbulence on consumer behaviors and spending in the technology, media, telecoms, and entertainment sectors.

The report also revealed resilient levels of consumer spending that bucked wider viewing trends. A third of UK consumers were reducing their spend on subscription-based video-on-demand services due to the cost-of-living crisis, with respondents aged 18-34 being the most likely to do so (47%). However, sports viewers remain willing to spend on watching games and events, particularly younger demographics.

Against a backdrop of consumers minimizing their monthly outgoings on paid-for content, over 8 in 10 sports viewers plan to spend the same or more on watching sports content in the year ahead. Monthly subscriptions were the preferred form of payment for 58% of sports viewers, driven by respondents aged 18-34 (78%).

The research also showed consumer expenditure on sports viewership has also shifted slightly in the past 12 months, with spend on watching sports via video-on-demand services increasing by 2% and spend on satellite TV dipping by 4%. An almost equal proportion of sports viewers use video-on-demand services (57%) and satellite TV services (60%) to watch sports at least once a month. Additionally, the average sports viewer currently spends £270 per year to watch sports content on TV or online.

“Accessing sports content ranks high on UK consumers’ leader board of priorities, as evidenced by their willingness to spend on viewership, even while two-thirds believe they are financially worse off than they were a year ago. Sport continues to be a cultural cornerstone, allowing brands to engage with consumers through content and events which truly matter to them,”  commented Denholm Scotford, Head of Toluna’s research division, TMTE-Harris Interactive.