Is this the death of cable TV as we know it?
Sadly, the answer is yes! Cable television has been an American household favorite for the last few decades, with nearly 60 million households subscribing to this popular industry. With thousands of channels to choose from, we saw a cable tv setup in almost every house in America, from the lower income areas to the middle-and upper class areas.
But all that has changed. With the current advancements of technology and the introduction of streaming services, more people are opting for the newer convenient way of watching their favorite shows. Cable tv networks first saw a decline in their subscription number in 2013, when a popular streaming service was first introduced and offered new and exciting ways of collaborating with tv and internet packages to bring their viewers fresh, original content, as well as some old favorites along the way.
As the way we do things changes constantly, more and more we are seeing media companies move to their own streaming services, as well as onto more online platforms that can be viewed on a laptop, computer, or cell phone, and not just on a television. Introducing smart tv’s has also led to a decline in cable tv subscriptions, as customers seek to do away with old technology and use the internet as their primary form of entertainment. While live sports events are still currently mainly televised on cable and satellite tv, there are some channels that will broadcast their events on the internet to a wider audience.
When we look at viewer and subscription numbers of cable tv, we can note that most viewers are from an older generation, and who might not want to do away with cable tv and use the internet. They will still opt for cable tv as their preferred method of watching their shows and movies.
Cable tv still offers the most variety, with thousands of channels to choose from. Whether you are a binge-watcher, or only watch television in your spare time, there is always something to watch on tv. But is this enough? Is there a way that cable tv companies can save themselves in this new age? Many customers enjoy the reliability of cable tv, but would like more freedom to choose the channels that make up their bundles or packages, rather than having to pay for channels that they do not want. Adding channels to their current package can work out to be costly, as they are charged per channel.
By letting customers choose and pay for only the channels and networks they want, cable tv companies can retain their current client base, as well as possibly gain more customers. The time is now for cable companies to listen to the needs and wants of the customer, and look at new ways of doing business and increasing their customer base. Innovation is key, and change is inevitable, so it is time that the cable tv industry embraces it and moves forward with new, exciting advances in the services they provide.