Cable television, Satellite TV, And online streaming platforms are the most popular sources for entertainment and daily news updates used by people around the world in today’s world. From movies of Hollywood to a documentary regarding information, anyone and everyone can find something of their interest on these platforms.
Data gathered in 2019 by the global television market suggests that there were 1.7 billion pay-TV households. For the very reason of the popularity of TV, it begs the question of whether or not will we see free TV access in the future. So, let us discuss some of the significant factors regarding this.
Cable TV & Online Streaming Networks
Cable TV was introduced in 1948 and since it has been one of the most admired means of entertainment and information for consumers around the world. The second step towards the evolvement of TV was in 1972, which was the first Pay-TV network. Today, around 74 million households use pay-TV in the United States only.
In the modern era, paid television streaming is very popular. Platforms such as Netflix, Amazon Prime, etc. accommodate up to approximately 78% of consumers in the United States, including an increase of more than 25% in the last five years.
Why Americans Use Pay-TV
If someone is willing to access content illegally, which involves risk and harm to the provider. If one wants to have access to high quality, content popular networks and channels provide that. They will have to pay for it. Pay-TV refers to the Paid TV subscription, which allows the consumer to access the Providers’ TV plan and channels. However, when we go deeper into the conversation, we will see that the reason why people still subscribe to TV providers is despite the easier and modern on-demand services.
People do not prefer to Pay-TV to access popular TV shows and movies only. Most of the biggest networks, like HBO Movies, and Netflix are already providing a wide variety of such content, through apps and websites.
The reason why people prefer to get cable TV is sports. Large Sports networks such as ESPN, NBC Sports, and fox sports still own the rights to major sports, for example, NFL, MLB, NASCAR, UFC, Professional boxing, NBA, NHL, MLS, as well as Olympics. Without paying for sports streaming subscription to Super sport or a similar network-owned app, one cannot access the live sports broadcast legally.
Despite the easier Digital access to News through social media Platforms and e-newspaper some people still tend to prefer the old-school way of watching news through TV broadcasts. TV hosts, newscaster’s semi-celebrities, and people with political leanings along with news bulletins and news flashes appear on TV first.
The Cost Of TV Subscription And The Possibility for It To Go Free
If we look at it in terms of dollars, Pay-tv costs far more than it did in the ’70s, but if we consider the increase regarding the purchasing power of an average American, access to TV is relatively cheaper and easier.
No one can ever be sure regarding the future of the TV industry because the arrival of Online streaming networks such as Netflix, Amazon, Hulu, and other platforms has caused a disruption. Many TV providers have lost a notable number of on-demand consumers.
To sustain stability and relevance, TV providers may come up with the idea to make TV access free of cost to attract consumers. Otherwise, people can continue to go for Online streaming platforms, which could lead to the extinction of TV services.
Predictions for TV In The Next 10 Years
In the past decade, technology has changed the course of entire industries regarding TV. For example, the introduction of streaming services and digital channels such as Netflix, Amazon Prime, Hulu, etc. has acted as a massive change. Considering this, it is safe to say that the evolution would continue to grow and a massive change could occur in the upcoming decade.
The Downfall and change Of Cable TV
The Television industry has changed over the past 10 years, and the disruption would most likely continue. In 2020, Cable TV industry lost 6 million U.S households that cut their subscription there might be only fewer Television Channels, which survive. Smart TV and virtual reality are changing the interaction of the consumer with the content. Cable TV might also consider unbundling the packages they provide or might even consider providing free or very low cost regarding their services for consumers to stay interested. Many online streaming networks have provided content without any commercials. The trend is shifting from generating revenue from subscription rather than Ad revenue. In the next ten years, there is a high chance for the Traditional cable providers to become commercial-free as well.
Freedom Regarding Content
TV providers have given a bundle of popular channels for customers to purchase as a package, which costs less than buying each channel individually. However, regarding the tough competition provided by the online streaming networks, TV providers might unbundle which will allow people to pay to buy a bundle of their choice with only the specific channels that they want to have.
In the future affiliation of the network, providers are highly expected as already Disney owns Hulu. In addition, Disney owns ABC network, ESPN, Pixar, and Marvel. Because of this, Disney can provide a large variety of content choices for its consumers. Other platforms and Pay-TV providers might as well consider such a step to provide a large variety of content for the consumer to be attracted. There might be a hybrid model as well which will allow the consumer to view banner ads instead of a commercial during their shows, which already exist on the internet.
More Personal Screens
A survey in 2018 found that 45% of U.S adults use a second screen often or always to watch television. It is safe to say that in the upcoming decade the use of a second screen would become more common for the consumers, to use a tablet or a phone to watch their desired shows, as they are convenient to carry everywhere they have to travel.
There is a huge competition regarding technology and smart TV development that is going on in between companies such as Google, Apple, Netflix, and Amazon who are developing more and more powerful smart TV’S and the trend is probably going to make the technology more affordable for the consumers. Check out the best spectrum TV plans at cable internet option.
Spectrum is also providing the customers the chance to bundle up the services. The internet price is the best in town. Moreover, Spectrum TV packages prices are the most compatible in the United States.
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