Almost half (46%) of broadcast professionals had never heard of asset finance, according to a poll by Azule Finance, a media and broadcast equipment finance provider.

Azule Finance interviewed 345 delegates over three days at the Broadcast Video Expo (BVE) 2014.

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The poll found that price overtook both quality and shelf life considerations in the decision to purchase new equipment for 79% of the broadcast professionals.

Cutting-edge equipment ranked as the fourth most important factor for the professionals polled, while shelf life was described as a priority by 43%, figures which Azule Finance believes suggest "short-term fixes are being chosen over products that could stand the test of time".

Peter Savage, managing director of Azule Finance, said that, although the industry had suffered under the recession, he believes product quality should remain a primary consideration.

"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?"

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He added the figures on knowledge of asset finance are "concerning" and said: "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’.

Savage said that finance should not remain the "taboo subject" it is perceived to be in the industry, and added: "Most of the larger companies use it to keep up with their competitors without the inherent cash flow risk."