5. Spending levels are under scrutiny and further volatility may lie ahead
Despite signs of willingness to spend more for a robust and reliable service, there are some signs of belt-tightening among households, with 15% trying to spend less on communications and content services as a result of the situation. At the same time, more than three in four households think their current packages are sufficient to meet their needs during the crisis – 77% for TV/streaming services, 79% for broadband packages and 81% for mobile packages.
Additionally, the expectation of the payment waivers and free services may evolve into a more enduring customer demand, one that outlasts the crisis itself. TMT providers need to focus strongly on how they will differentiate themselves and clearly articulate messages which will resonate with consumers.
6. Public service channels have stepped-up to respond to the desire for trusted content
Rarely has the thirst for news been greater among UK consumers. Half of those in the survey confirmed they are currently seeking more news and information, trying to keep abreast of the latest developments. Public service broadcasters (PSBs) are benefitting from the desire for quality, with 41% of consumers relying more heavily on them for news content.
As consumers hope to quench their thirst for news, by far the preferred source is the UK’s PSBs – BBC, ITV, Channel4 and Five. The breadth and depth of their coverage as well as their objectivity gives the PSBs this uniquely trusted status and over three quarters of those surveyed (77%) think they are coping well with the situation. This is a great opportunity for the PSBs to reinvent themselves by building upon this trust and making the most of these higher levels of engagement.