TOP 10 Reasons Why Cable TV is Obsolete NOWADAYS
The demise of cable TV has been written about for several years now. Beginning in 2013, there is no doubt that cable TV continues to lose subscribers across the globe. TV viewing drops by approximately 10% per quarter, leading people to ask what is fast making it obsolete in the present-day society. Here are the top 10 major reasons for the dilemma in cable TV industry today.
New competitors, including Sling TV, Sony Corporation (SNE), Netflix, Inc., Crackle, and Amazon.com, Inc. have emerged, providing the much-needed streaming content. They continue to replace the set-top box.
Gradual Change in Consumer Behavior
Media companies, such as ESPN and HBO have acknowledged and appreciated the rapid changes witnessed in consumer behavior by offering streaming content. It is expected that many more to come, targeting different groups and demos, each with a unique way of packaging its networks.”
Growth of Digital and Mobile Devices
People are rapidly becoming more wired today because they now prefer the convenience as well as ease that comes by transitioning between portable devices, like mobile phones and laptops, which support wireless connections.
Available evidence from recent consumer-centered studies shows that people of all ages are no longer interested in paying for many channels, particularly those that they find irrelevant to their lives. By subscribing for only what they would want to watch, selective subscription has usurped the antiquated cable model.
The costs incurred by customers of the bundled cable subscriptions continue to grow as individual venders struggle to survive in the face of rising inflations and unpredictable business environment.
People who have reduced the time they spend watching cable TV have reported increased productivity. For example, the long hours you remain glued on TV can be translated into studying, playing, and exercising.
Cable TV providers, including Comcast and Time Warner Cable tend to enjoy a great deal of monopoly, making these companies less concerned about consumer experience. They only prioritize profit maximization at the expense of customer satisfaction.
Emergence of Cable Killer
Sony recently released Vue in March 2014, one of the competitive cable options, which allow people to run through playstation platforms. Users can also select specific channels of their choice.
The rise in illegal Torrents has made it quite difficult and inexpensive for regulatory bodies to shut each of them down. With the increasing creation attributed to the Internet, cable TV will continue to become more outdated.
Alternative Marketing Channels
Companies no longer use conventional cable TV to market their products and services; they now link their websites to social media platforms, such as Facebook, Twitter, and Reddit in order to reach many consumers.