Streaming television is taking over. Today’s viewers are more willing than ever before to forgo cable or satellite packages in favor of streaming services. A recent report from the media and entertainment analysis firm, Paragon Solutions, found that streaming services such as Netflix, Hulu, and Amazon have become more popular than traditional broadcast television among viewers aged 18-35. This data isn’t just a blip; it’s indicative of a larger trend. Millennials and Generation Zers are turning away from traditional TV faster than any other generation. The majority of people aged 18-24 no longer even have a cable subscription. If you’re one of those people who are cutting the cord on monthly cable bills in favor of streaming services like Netflix or HBO Now, you are part of what analysts predict will soon be a majority.
What This Means for Cable Companies
For years, cable companies have been able to depend on customers’ reluctance to cut the cord. But with viewers flocking to streaming services, cable providers are losing their grip on the industry. This could be a major economic problem for cable companies, which are already losing billions of dollars each year. Some analysts predict that the cable industry could be facing an existential crisis. If current trends continue, cable companies could soon find themselves with a greater percentage of customers who are dissatisfied with their service or unable to pay their bills. This could lead to an industry-wide increase in the number of customers who are unable to cancel their cable subscriptions or don’t know how to cancel their cable subscriptions.
Why Streaming is Taking Over
One of the major reasons that streaming services are taking over is an overall increase in the number of people who have internet access. The internet is now more accessible than ever before, thanks to fiber optic networks that allow for blazingly fast internet speeds. Internet service providers are also making it easier than ever before to begin streaming, with many companies even offering free streaming services. And now that the cost of streaming has decreased, more people than ever before have been able to start cutting the cord. The average cost of cable has been steadily increasing every year while streaming services have been getting more affordable all the time. This has made it easier than ever before to justify ditching cable in favor of streaming.
Streaming Services are Becoming Brands
As streaming services become more and more popular, they’re becoming household names. This means that the streaming services themselves are becoming brands. If you’ve ever seen a commercial for a particular streaming service, you can probably name the company behind the service. This is a big deal, as streaming services are increasingly being treated like the brands that are advertised on cable. As streaming services become better-known brands, more people will be likely to subscribe to them. This is just as likely to happen among younger viewers as it is among older viewers. Because streaming services are treated like brands, viewers are more likely to subscribe to the services they’re most familiar with. This can be an especially significant trend among younger viewers, many of whom don’t remember a time when streaming services weren’t widely available. This means that young viewers are less likely to associate cable with TV than their parents and grandparents are.
Streaming TV is More Affordable
Another reason that streaming is taking over is that it’s become more affordable than cable. On average, a cable package is still more expensive than a streaming service. Although the price of cable has increased each year, streaming services have seen their prices decrease year after year. As streaming services have become more affordable and cable subscriptions have become more expensive, more and more people have been able to justify ditching their cable packages. This makes streaming a more affordable and viable option for people of all income levels, regardless of whether or not they can afford cable.
People Are Watching TV in New Ways
Young viewers are also turning away from a traditional TV because of the way that they’re watching it. Many viewers are now watching TV in new ways, such as through services like Sling TV or Playstation Vue. One of the reasons that viewers are choosing to watch TV in new ways is because they’re able to watch shows on their schedules. This is something that traditional TV doesn’t offer. If you tune in to catch your favorite show at the same time every week, you’re probably used to catching the same re-runs. Because many shows are recorded ahead of time, viewers are unable to watch brand new episodes at the same time they air on TV. In contrast, streaming services allow viewers to watch shows as soon as they’re available. This is something that’s never been possible with traditional cable.
Netflix is a streaming service that has become one of the most popular streaming services in the world. With more than 130 million subscribers and a growing number of original shows, the streaming service is a force to be reckoned with. Whatever your interests, there’s a good chance that Netflix has something that will appeal to you. Whether you want to watch a silly comedy, a dramatic thriller, or a heartwarming documentary, there are countless options available.