New Research Shows 14 Percent of Australians Plan to Cancel Pay TV as a Result of the COVID Pandemic

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[{"type":"text","content":"\nPercentage of Cord-Cutting is Higher Among 18-to-34-Year-Olds \n\nNearly Half of Aussies Prefer to View Ads in Exchange for Premium Content vs Paid Subscription\n\n SYDNEY--(BUSINESS WIRE)--\n\nA growing number of Australian consumers are cutting their pay TV subscriptions as a result of the COVID-19 pandemic, according to a recent survey of 1,000 Australians by JWS Research for The Trade Desk (Nasdaq: TTD). Fourteen percent of Australians that use pay television services intend to cancel, put on hold or let lapse their pay TV services as a result of the pandemic. The percentage of subscription cancellations in Australia is currently higher than the 11 percent of U.S. consumers who plan to cancel based on a similar survey conducted in the U.S. by The Trade Desk in April of this year.\n\nThe percentage of Australian households that use pay television services plan to cancel, put on hold or let lapse their pay TV subscriptions as a result of the pandemic:\n\n\nAll households – 14 percent\n\n\n18-34 age group – 23 percent\n\n\n35-54 age group – 10 percent\n\n\n55+ age group – 9 percent.\n\n\nThe research also found the number of Australian cord-cutters increases to 23 percent among 18-to-34-year-olds. Consumers in this age group are highly coveted by advertisers due to their disproportionally high disposable income and brand-loyalty potential, as well as the influence they have in being trendsetters for all age groups. The shift of this age group moving away from pay TV toward new models of TV consumption such as broadcast video-on-demand (BVOD) signifies that advertisers will have to develop new strategies to reach these consumers.\n\n“We’ve seen the pandemic accelerate consumer and media trends that would have taken years compressed into a few months. As a result, the advertising industry is going through a profound transformation that’s changing how marketers think about reaching consumers,” said James Bayes, General Manager, Australia and New Zealand, The Trade Desk. “With 14 percent of Australian households and 23 percent of young consumers shifting away from traditional pay TV coupled with the rise of BVOD and connected TV, advertisers have the opportunity to shift to a more efficient, data-driven approach to reach audiences while being deliberate with every advertising dollar. Broadcasters and pay TV operators have acknowl...

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