Superfast Broadband & Pay-TV Cause Household Spend Increase
For the first time in the past 5 years, UK households have seen an increase in spending for communication services such as pay-TV and broadband. This increase has been down to the fact that households are now willing to pay that bit extra in order to upgrade to superfast broadband.
Uk regulator Ofcom has said that households spend around £117.71 on average for television, broadband, phone, mobile, postal services and radio. The rise equates to just 19p and has been the first rise since 2013. It’s not all doom and gloom as the current average price is still lower than 2009 which was £122.07. This decrease was due to the recession and increased competition within the telecoms industry.
Another reason for this increase was due to the rise in cheaper pay-TV packages, driven by BT and TalkTalk. The rise in pay-TV subscribers excludes services such as Netflix and Amazon.
Superfast Broadband – Will it continue to rise?
It appears that there may be a headwind from pricing due to the increased market share between Sky and Talk-Talk. With that being said, we still think that more people will continue to switch over to superfast fibre optic broadband, and thus, increase overall household spend going forward.
A spokesman from Ofcom has reiterated this fact by saying that – Because of the increase of superfast broadband users and the increase in pay-TV, we expect that household spending in terms of communications will continue to rise.
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