Cable TV has been a part of everyone’s lives since the late 1940s when it first started to become a household thing. Growing up, kids looked forward to watching their favorite shows at home with their family. And while television sets have evolved throughout the years, cable TV remained pretty much the same.
It’s not necessarily bad, but with the unstoppable rise of the digital age, the younger generation is ditching cable for online streaming.
Why Cable Providers Should Be Worried
The statistic shows that there has been a decline in cable TV subscriptions since 2015, but service providers are not affected by this number due to how inexpensive their rates are. Thanks to nostalgia, the older generation is keener in keeping their subscription.
shock/Depositphotos: Millennials are not interested in cable TV anymore
Millennials, on the other hand, rarely turn on their TV sets to watch cable shows as they prefer to use handheld gadgets instead. However, smart TVs are becoming a must-have for every household, so it won’t be long till local cable channels will be a thing of the past.
Online Streaming is King
REDPIXEL/Depositphotos: The new era of online streaming service
Several years ago, Torrent sites were the go-to place if one wanted to download and watch movies. But there are legal repercussions for this practice, which is why people are now leaning toward streaming services like Netflix and Amazon Prime Video. These paid subscriptions are dominating the scene for its wide selection and reasonable price packages.
Also, gadget-crazy millennials love how they can access new shows anytime they please. No one wants to wait for an entire week to view a show’s latest episode anymore.
Cable Strikes Back
According to some reports, 90% of millennials are willing to do away with traditional cable subscriptions in exchange for online streaming. Because of this, cable channels have leveled up their game in the playing field by creating their subscription services as well.
Big companies like HBO are now offering users online access to their entire movie selection, including exclusive content.
AndreyPopov/Depositphotos: Now the cable channels have their own subscription services
Other channels like The History Channel opt to share their shows for free if accessed through the app. Some apps even allow live TV viewing for free!
As the threat of ‘cord-cutting’ draws near, cable companies are doing what they can to innovate and adapt to their consumers’ changing needs. There are now flexible payment terms and service rates that used to be limited only to streaming companies. Hopefully, this will convince millennial customers that cable TV is still as fun as it used to be.
