Whether cable TV is dying or not has been asked for many years, and experts have provided many answers. Cable TV is just hanging on a thin thread now as many of these predictions come true day after day. It looks like cable TV is dying a slow death and might completely become obsolete in the future. Here are the reasons why.
The Rise of New Competitors
Cable TV has continued to lose the number of subscribers, with this growing wider every year. The biggest reason for this is the emergence of competitors, which are highly challenging their legacy. People now prefer to stream content online using Netflix, Amazon.com, Sony Corporation, Sling TV, etc. Content streaming is slowly replacing the TV combination as people view these as the easiest ways to get their entertainment needs. Netflix statistics show that one out of two households in America is a subscriber with streamed content amounting to 12 billion hours.
Piracy is on the Rise
Internet piracy has been an issue for many years and has threatened to pull down even the biggest businesses like that of cable TV. Illegal Torrents continue to rise every day, and it’s proven that it’s not going anywhere soon. As laws are imposed every day to handle this malice, Internet pirates continue to up their game by becoming more creative. It becomes clearer that cable TV is losing the war to piracy, and that’s why it’s slowly getting out of the market.
The Media is Switching
Cable TV has relied so much on the media thanks to their most sought after content, resulting in many viewers. However, it seems like they won’t survive here either because the media is also switching gears. Media companies have noticed the emerging trends in the live stream, and as usual, they have to follow their customers. The large ones have managed to experiment with the streaming options as well as IPTV providers, and it won’t take long before the smaller ones follow suit. Once the media migrates, there will be no one left on the side of cable TV.
Poor Customer Support
There have been complaints about poor customer service among cable TV service providers. For the past years, these companies have monopolized the market that they worry less about whether their customers are happy or not. As long as they are making their profits, nothing else matters. Well, customers have to endure the cold treatment for now because they have nowhere else to go. But what happens as soon as stronger and friendlier competitors come up? There will be no doubt that customers will switch happily, leading to the downfall of cable TV.
Consumers are Narrowing Down on Channels
Part of Cable TV profit is the number of channels watched by their customers. It seems like this is falling as well because, with the rise of live stream options, customers are no longer interested in the many channels provided. Customers will not pay extra for channels they won’t be watching anymore. They’ll rather opt for the live stream options whenever they want to watch something. Even those customers that have not embraced the streaming options are narrowing down on the number of channels they watch to avoid paying extra.
The Internet has given rise to more interesting content through live stream, and as usual, this has greatly changed consumer behavior. Cable TV might have held on for longer than earlier predicted, but it will have to accept its fate sooner or later. Well, they might still be able to adopt the new market trends and remain in the market so we must give them that benefit of doubt.
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