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Press release from PR Newswire

New Study Finds That the Adoption of Online Video Content May Motivate Some to Cancel or Downgrade Cable Subscriptions

Thursday, November 10, 2011

New Study Finds That the Adoption of Online Video Content May Motivate Some to Cancel or Downgrade Cable Subscriptions08:00 EST Thursday, November 10, 2011Philips launches Wireless HD Net Connect to give consumers an alternative to traditional cableSTAMFORD Conn., Nov. 10, 2011 /PRNewswire/ -- With more people than ever accessing video content online, some Americans appear ready to cut the cord and quit cable, according to a recent study commissioned by Philips.The study found that the vast majority (80%) of people who watch video content online do so on laptops, and nearly half  (45%) say having the ability to send the content wirelessly to their high definition TV would motivate them to either downgrade or cancel their cable plans altogether.  "People will continue to shift away from traditional means of entertainment, like cable, to new forms available online," said Lisa Phelan, Senior Director of Marketing for Philips.  "However, watching on the small screen of your laptop takes away from the immersion of the big screen and ability to comfortably share the experience with others."The launch of Wireless HD Net Connect comes at a time when consumers are putting more of an emphasis on at-home entertainment.  In fact, the study found that three in five Americans (61%) say they seek technology that will maximize their home entertainment experience and more than 90 percent of consumers believe wireless technology is the way of the future.  Philips Wireless HD Net Connect Survey 2011 HighlightsMore Online Viewing:  One in three consumers is watching more online video content than one year ago, and 55 percent of 18-34 year olds watch online content more than four times a week.Quitting Cable:  Nearly half of people who watch online content say the ability to wirelessly send content from their laptop to their TV would motivate them to consider downgrading or canceling their cable subscriptions.  Leaving the Laptop:  Of people who watch video content online, a large majority (59 percent) wish they could view content from their laptop on their TV.Wisdom of Wireless:  Nearly 90 percent (87%) of 18-34 year olds prefer wireless devices to those with cords.Cutting the Cord with PhilipsPhilips brings a whole new world of high definition entertainment to the living room with the introduction of its new Philips Wireless HD Net Connect, which allows consumers to wirelessly stream their favorite online content directly to their high definition television in HD 1080p/60 resolution. The product works exclusively with HDMI equipped laptops or PCs and HDTVs and can stream content from a laptop up to 25-feet away from the HDTV without a delay in the signal.  With some watching online video content several times a week, the Philips Wireless HD Net Connect provides an easy plug-and-play solution for consumers wanting to watch a range of online content - including movies, television shows, games and personal photos and videos - on their televisions. Thinking about cutting the cord?  To learn more, visit Amazon.com for product details and a limited time offer to purchase your Philips Wireless HD Net Connect.  About Royal Philips ElectronicsRoyal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people's lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs more than 118,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter. SOURCE PhilipsFor further information: LaToya Evans, Philips Consumer Lifestyle, +1-203-351-5884, LaToya.Evans@philips.com; Justin Rivera, OneVoice, +1-646-935-4290, Justin.Rivera@ketchum.com