There are free movie downloading sites and the future of cable might be no cable at all. Thanks to smartphones, tablets, and laptops, people find it convenient to watch TV when on the go (courtesy: online streaming apps). However, I still subscribe to Spectrum TV plans because I can’t do without cable TV. But the future of cable TV is not that promising.
Is the Doom of Cable TV Near?
Critics blame the downfall of Cable TV subscription on not just the smartphones but also the online streaming apps like Netflix and Amazon Prime. These platforms are the main reason that cord-cutting is so prevalent now.
However, the truth that many telecommunication companies don’t even care about a decrease in Cable TV subscriptions is not the one to overlook.
But how can companies who earn their revenue and generate profits from providing a service be so chill about losing its customers?
What Substitutes Cable TV
You may have noticed that telecommunication companies do not offer a single service. They have 2-3 services that the users can subscribe to. These include Cable TV, Internet, and phone services. If the companies are losing subscribers for Cable TV, they are cashing out on that by proving their Internet services to more people.
Generally, people are becoming more reliant on Internet services as they can use it to surf the web and watch TV as well. Moreover, the Internet allows them to connect to the world around them as well as entertain themselves by watching a show or movie. If the majority of subscribers are opting for cord-cutting, there is no chance that they will withdraw their Internet service as well.
More and more people are now subscribing to various Internet services. Some telecommunication companies are also skeptical that they might stop offering their Cable TV service altogether sometime in the future. Because it will not bring any profit to the company.
Many critics and researches blame the downfall of Cable TV on online streaming services. This holds for services like Netflix and Amazon Prime who happen to be the market players when it comes to online streaming. These and many other platforms changed the way we all view TV.
These online streaming platforms owe much of their success to the convenience that they offer to the subscribers. Apart from that, they also come at a lower price than the Cable TV subscription. If you compare the costs of both Cable TV subscription and online streaming services, you will see that the latter come at almost a fraction of the price of the former. And the variety of shows and channels that the online streaming platforms offer is also huge.
What helps the streaming platforms to excel is the use of AI and machine learning. Both, when working together, suggest the streaming platforms the shows and movies that are famous among the audience. The streaming services respond by adding them to their list. The On-Demand content also makes it easy for people to get access to the shows and movies that they please. All of this leaves no room for Cable TV. Hence, cord-cutting.
Competition is Tough
Although the streaming services are earning more and more subscribers, they are in a constant battle amongst themselves. This battle involves them pleasing their customers because if not pleased, a customer can switch to another service easily. The CEO of Netflix agrees that the secret ingredient to our success lies in how well we please our customers.
Pleasing the customers/subscribers can often be hard because every individual has a different mindset. However, Netflix was the pioneer in this category and other online streaming services continue to learn a lesson or two from this giant.
Are Smartphones to be Blamed?
Some people also think that the iPhone should be blamed for the downfall of Cable TV. Because smartphones make it easy for people to not just watch shows and movies whenever they wish to, but individuals also indulge in playing games and finding the right match on dating apps. All these activities, draw the users’ attention away from cable TV.
Are you someone who is a cord cutter? Or do you still subscribe to cable TV packages as I do? My all-time favorite is the Spectrum TV Essentials package. If the fact that cord-cutting is on the rise does not convince you, share your views in the comment section below.