Nearly all (95 percent) cable modem households in a recent survey plan to retain their cable modem service, despite the recession. Only 2 percent of cable modem households report that they are somewhat or very likely to cancel their cable modem service in the next six months.
According to CTAM research, cable households have become more loyal to their TV service over the past three months. More than eight out of 10 total cable (81 percent) and digital cable (81 percent) households report that they are not at all likely to cancel their cable TV service, compared with November 2008, when those same groups reported 71 percent and 77 percent, respectively.
This is particularly striking given economic circumstances: More than seven out of 10 (71 percent) U.S. households think that the economy is either in a recession or heading toward a depression, but cable’s broadband and television services are well positioned to weather the storm, according to the CTAM survey.
Overall, lifestyles and buying habits are changing. Consumers report being likely to spend more time at home watching TV (35 percent) and less time doing activities outside the home. More than half of U.S. households currently report doing less shopping (53 percent), eating out less (52 percent), going on fewer vacations (51 percent), and attending fewer concerts and theater performances (50 percent) because of economic conditions.
“These are uncertain times, and consumers are not only cutting back on out-of-home activities, they’re cocooning with family and friends in their homes. This has led to increased reliance on cable’s valuable entertainment, information and communications services,” said Char Beales, CTAM’s president and CEO.