Seventy-nine per cent of broadcast professionals neglect quality and shelf life when buying new equipment, saying price is their main concern, a poll from Azule Finance has shown.
The poll, conducted at BVE 2014, shows the economic climate is clearly having an effect on the industry – cutting-edge equipment only ranks fourth in the list of priorities for broadcast professionals when making a purchase.
Product shelf life (43 per cent) was also not the highest priority, suggesting that short-term fixes are being chosen over products that could stand the test of time.
Despite this wholesale sacrifice of quality as price takes centre stage, almost half (46 per cent) of broadcast professionals surveyed had never heard of asset finance, which can provide a means of getting the latest technology on a fixed budget.
Peter Savage, managing director of Azule Finance, says: “We’ve seen all areas of the broadcast industry hit by the tough economic climate over the last few years, and it is good to see people stopping to think twice before spending money they don’t have. But should quality suffer as a result?
“That’s why it’s even more concerning that almost half of broadcast professionals we spoke to had not heard of asset finance. It is important that broadcast professionals don’t fall behind technologically and strangely finance is the perfect product to help you “keep up with the Jones’”
“Finance really shouldn’t be the taboo subject it is perceived to be. Most of the larger companies use it to keep up with their competitors without the inherent cash flow risk,” Savage concludes.