After a long and hard day at school, you simply want to unwind when you get home. You get on the couch, turn on the TV, and start Netflix while holding a bag of chips and a Coke in each hand. You decide to watch the newest episode of Breaking Bad, one of your favourite shows. You used to watch it on the AMC channel, but you couldn’t resist when you realised you could watch it anytime you wanted by ordering it on demand.
One of the worst years for the TV industry in years is currently upon us. Before the advent of cellphones and the spectrum cable and internet prices, watching TV was one way people used their leisure time. Though more and more individuals started viewing their favourite TV series and movies on streaming services like Netflix and YouTube as our culture shifted toward more cutting-edge technological advancements, doing so allowed them to not only save money but also save time.
Google’s chief business officer, Omid Kordestani, claimed on July 16, 2015, that the video-sharing website “YouTube” has eclipsed all cable networks among viewers aged 18 to 49. Since most of what we watch is on demand, it’s much more convenient to open YouTube or Netflix on your iPhone than to turn on your TV and sift through hundreds of channels to locate a handful of your favourite stations. In that case, you’ll be compelled to wait until the commercials are over if you’re unlucky.
Due to the sharp increase in the price of satellite and spectrum tv customer service and the resulting bill inflation, many customers are no longer ready to pay. According to the NPD Group, the average monthly cost of accessing basic cable channels this year is roughly $123. By the year 2020, the monthly cost is anticipated to soar to $200.00. Smaller bundles of cable are purchased because consumers are unwilling to pay for a large number of channels they hardly ever use.
According to data by Point Topic, Americans pay roughly $65.00 for broadband, yet for less money, the Internet also provides limitless material across millions of websites. For instance, each week, YouTube receives thousands of hours of new content. Today, a lot of individuals get their news online as well. Cable and satellite TV subscriptions are inferior to mobile streaming services used on smartphones and computers.
You could watch your favourite shows while you’re travelling or at school if your phone supports LTE. Compared to Netflix, Amazon, and Hulu, cable TV is simply too pricey. You must pay $7.99 per month for Netflix, Hulu, and Amazon Prime, respectively. Unlike Comcast, which offers 140 TV channels for $44.99., a person would only need to sign up for one service to satisfy all of their entertainment needs.
For many years up until this point, cable businesses were mostly unopposed. One of the newest competitors to put pressure on these firms, as well as other internet firms, is Google Fiber, which offers cable TV and broadband internet.
Their Internet plan is significantly faster than the typical broadband plan—at least 50 times faster. Comcast provided thousands of its customers with a free opportunity to boost their Internet speeds in 2013. In 2014, AT&T paid $48.5 billion to acquire DirecTV. Right behind Comcast, DirecTV was the second-largest cable provider.
With this expansion, AT&T was able to increase broadband, guarantee a speed of six megabits per second, and uphold net neutrality for its customers. Almost all of the big technology retailers, including Best Buy and Walmart, sell smart TVs that have direct Internet connectivity and groupings of streaming content.
In the end, cable TV will inevitably go. Watching a movie or TV show on a portable device is far more handy than watching it on television. Cable providers are finding it difficult to grow as more businesses compete to offer consumers a way to access entertainment. On-demand services are expanding at an exponential rate, and eventually the cable sector will be a thing of the past.
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