Television has come a very long way. Both the physical T.V itself and its content have made great strides even in just my lifetime. We have gone from seeing these huge black boxes sitting in our living rooms to paper thin screens hanging on the walls. There is no question that the internet streaming craze has made us wonder whether we would ever need to spend money on cable ever again. While cable companies might be taking a hit, I think the actual television is something that will always be around or at least remain relevant for a long time. I believe that overtime we will be seeing the T.V used simply as a medium to watch these internet streaming sites.
The funny thing about this argument is that one person’s viewing habits can differ entirely from someone else’s and that greatly influences what medium they are using to watch their shows. For example, if you have a sports fan who is trying to watch the Celtics, most of the time you’re going to find he/she in front of a traditional television watching the game live. If you’ve got someone who loves binge watching shows for hours, you will find him/her most likely in front a laptop or computer screen using Netflix, Hulu, and more recently into the business of online streaming is Amazon. The one advantage that T.V still has over internet streaming is the live events. For viewers who enjoy watching live programs such as the news, award show, or sporting event, traditional television has the upper hand.
The never ending advancement in technology is playing huge role in the movement away from traditional television. The reduced friction in accessing these streaming sites is a direct effect of newer technology and as a result, we are moving farther and farther away from traditional television. The ability to view programs on demand wherever and whenever you want is the primary competitive advantage that internet streaming has over the television. Cable providers do offer on – demand viewing, but the selection is very limited compared to a Netflix or a hulu for more of a price. More recently I have been running into these smart TVs where you can access these internet streaming sites. This in my opinion was a great move for TV companies, this is the kind of thing that they need to do in order to stay relevant as medium for consumers to watch.
Being a business major I found it interesting to see how this shift from traditional television is impacting the industry. One article on a trading website refers to the act of not using cable anymore as “cord cutting”. They brought up a good point that I had never thought of. Customer service is a large part of the cable TV industry and they currently rank among the worst in customer service scores. Internet streaming is little to no interaction with people on the phone which can be very tedious. Two leading cable providers Comcast and Time Warner have actually capitalized on satellite and telecom providers moving toward a less aggressive expansion plan thus losing market share to the cable companies. Still, this cannot sustain itself and cord cutting will continue to exist. The transition will be slow I think due to the fact that cable TV has been a staple in households for a very long time and people will need to adjust to the new trend. Especially being an upcoming graduate of college I think the days of me paying for cable are coming very soon.