HDTV Adoption Jumps A Significant 25 Percent Over 2007 Holidays
LOS ANGELES, April 24 /PRNewswire/ -- 5.5 million households brought home an HDTV set for the first time during the 2007/2008 holiday and Super Bowl season this year. A recent study of consumers across the U.S. indicates that 25 percent of U.S. households or 28 million now have at least one HDTV set, that up from a penetration of 20 percent in September 2007. In a study conducted shortly after Super Bowl XLII, Frank N. Magid Associates identified an impressive three million homes added a second HDTV during this same time frame, bringing multiple HDTV set homes up to nearly 10 million. "Consumers who become accustomed to the sleek and contemporary appearance of their first HD set are now looking to bring that benefit into other rooms in their home," says Maryann Baldwin, Vice President, Magid Media Futures(TM). "However owning an HDTV set and actually viewing HD are still two very different pursuits for many." Due to falling prices and the upcoming digital transition, a larger percentage of younger adults 21-34 purchased HDTV's this holiday season. Among those who purchased their HDTV set in the past year, 18 percent say they did so to connect it to a high definition video game console like Xbox 360 or PlayStation 3. "Now that the early majority has joined the ranks of the HD adopters, the demographic makeup of the HD population is looking more like the overall U.S. TV viewing universe," says Jill Rosengard Hill, Vice President and Managing Director. Among those who reside in a household with at least one HDTV set, the number who have taken steps to arrange for HD programming reception hold steady compared to other recent studies at 70 percent. Among the 30 percent of HDTV set owners who have not made these arrangements, many site costs and a limited number of channels available in high definition. Satellite customers make up half of this group, and most of them say they are not prepared to purchase the new equipment necessary to add this service. Just three percent of homes own an HDTV set that is receiving HD programming from their local stations via an over-the-air antenna. HD adoption appears poised to continue its accelerating growth rate. Not only do three-in-ten households plan to purchase a new TV in the next year, nearly all of them indicate that if they make this purchase, the new television will be an HDTV set. Much of the demand seen this year is driven by both the continuing decline in HD set prices, and the belief among some consumers that the digital television transition slated for February 2009 requires that consumers actually purchase a set capable of displaying high-definition. Findings also show that 24 percent of those who do not currently own an HDTV set feel it is important they will be able to watch the 2008 Summer Olympic Games in high-definition, another driver that could lead to higher than normal second quarter TV sales, a quarter typically known for its slow TV purchase activity. While few said the Super Bowl drove their purchase intent, 25 percent of U.S. households watched some portion of the match up between the New York Giants and the New England Patriots in high definition, either in their own home, or in the home of a friend or a family member representing a third of all Super Bowl viewers. Current HD owners will also drive demand for HD sets. Nearly four-in-ten current HDTV set owners plan to purchase yet another HDTV set in the next 12 months. Magid conducted this online research among 1,235 consumers nationally representative of the U.S. online population, age 21 and over. A written report on the study is now available for purchase. Contact Jill Rosengard Hill at 212-515-4523 or Jrosengardhill@magid.com. Frank N. Magid Associates, Inc., founded in 1957, is the world leader in providing research-based strategy solutions to a variety of businesses representing all aspects of the media, entertainment, and communication industries. With nearly 350 employees operating out of offices in New York, Los Angeles, Minneapolis, and Cedar Rapids, Magid serves hundreds of clients in more than 35 countries worldwide. Magid works with its clients to achieve success by gathering exceptional consumer insights and developing and executing strategies that maximize client performance. The valuable perspectives gained over thousands of engagements and millions of consumer interviews and observations have also made Magid highly sought after among business leaders and investors as they map out the future. The company's Magid Media Futures(TM) unit is recognized as providing highly predictive and prescriptive data-driven insights on the future of media. More recently, Magid's Millennial Strategy Program(R) is helping operators and investors develop successful strategies to access this potent consumer segment.
SOURCE Frank N. Magid Associates
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