The Sky’s the limit: Brits sacrifice all to protect their TV subscriptions
New figures reveal the lengths TV-obsessed Brits will go to in order to preserve their monthly television subscriptions. The findings show that 75 per cent (11 million) of subscribed households would openly prioritise spending on their TV package over holidays, weddings, going out and many essential everyday items.
According to the figures, 15 million (61 per cent) households currently subscribe to a monthly paid-for TV package, the vast majority (58 per cent) of which are held with Virgin Media or Sky.
When asked which outgoings household subscribers would sacrifice before cutting back on their TV package in an effort to reduce their monthly spending, 47 per cent said they would cut back on the amount spent dining out, 30 per cent on clothes and personal grooming items and 24 per cent on sports and leisure activities.
The nation’s determination to protect their TV channels doesn’t stop at entertainment either, with 28 per cent of subscribers prepared to cut back on their holidays and 26 per cent willing to forgo a big ticket item like a car first. A dedicated 9 per cent are even ready to cut back on a wedding, while 4 per cent say they would rather spend less on their children’s birthday presents and extra-curricular activities than reduce spend on their television viewing.
What would you sacrifice before your TV package?
Activity/outgoing - % that would cut back on this before reducing spend on TV subscription
Dining out/going out 47%
Clothes and personal grooming 30%
Big ticket purchase e.g. new car 26%
Sports and leisure activities 24%
Supermarket shopping 16%
Birthday/Christmas/other gifts for family or friends 15%
Birthday/Christmas/other gifts for partner 12%
Use of household utilities i.e. gas, electricity, water 11%
Spending on my child e.g. birthday presents, after-school clubs 4%
Unfortunately, for around 3.6 million household subscribers (22 per cent) this is already a reality, as 11 per cent have already reduced dining out/going out spend to preserve their TV package, 6 per cent have cut back on supermarket shopping, 6 per cent cut back on holidays and 5 per cent gave up a big ticket purchase.
Carlos Palacios, banking director at Santander, said: “Most families in the UK are having to make cut backs with many choosing to stay at home instead of going out to save money, so it’s understandable that they wish to keep hold of their TV subscription.
“Internet, TV and technology are a central part of modern family life, but they do come at a cost, so we’d urge people who feel they need to make other sacrifices to first make sure that they are getting value for money on their current deal.
“Our new 123 Current Account can also help make a real difference to people by helping cut their everyday bills including 3 per cent on mobile, landline, broadband and paid-for TV packages. If you pay £30 a month for your TV package, we can help cut that bill by more than £10 a year.”
Santander has launched a simple to use online calculator which customers can personalise to their own household bills and spending to see how much they could save in a year and how much interest they could earn. Visit santander123.co.uk for a list of eligible suppliers.