What Does the Future Hold for Cable TV?
Cable TV has reached the point in its lifecycle where it is antiquated and dwarfed by modern methods. The rise of streaming and the development of the internet, in general, has meant that cable TV has been out on the outs for a while. Streaming has offered so much more convenience and content that cable TV has been dropping in households for a few years now, signaling the end of its era.
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Cable TV is at risk of being completely dwarfed by the streaming model. The number of households with cable TV has declined over the years, according to areport by Statista.
you could get your news right on your phone and even tailor the app so you only get stories covering your home area. On the other hand, Netflix, Disney+, and all thebest streaming serviceshave emerged, giving you a wide selection of content. Indeed, many of the TV shows and movies that started off as cable eventually ended up on streaming platforms.
The cable TV industry operates on an antiquated business model that won’t be able to compete with the streaming model unless it transforms into something different.
Will Cable TV Survive?
With the industry looking in such dire straits, you may be wondering whether cable TV can actually survive. That question will be answered at some point, but you shouldn’t discredit cable TV out of the race completely. If it finds ways to compete by innovating and transforming some services or offering more for the cost, cable TV could bounce back.
But you probably wouldn’t want to be the person responsible for reversing the decline.
There are a number of factors that will influence whether cable TV can survive in the streaming era.
1. Cable TV May Have to Change Its Price
The price of cable TV is likely a point of contention for many households. Cable TV can often be pretty costly to begin with, with many channels that you purchase as part of a package largely being unused.
If cable TV providers could find a way to reduce their pricing model, this would give them a chance to retain users as well as increase sign-ups. Cable TV can prove expensive for many users, leading them tocable TV alternatives that help save money.
2. Cable TV Companies Will Have to Franchise-Up
Everything’s a franchise these days. The streaming models all adopt the idea of creating franchises from which various movies and TV shows can spin off from. Cable TV often has one-and-done type shows rather than going for binge-able heavy hitters.
If cable TV wants to compete with the offering of streaming platforms, it will have to consolidate its programming base to more ‘serious’ projects. Sports and news are staples of the cable TV package and, by design, have to stay the same, but developed shows and movies as part of these packages should be able to compete with the big guns on Netflix, Disney+, Amazon Prime Video, et al.
3. Cable TV Still Has a Solid Audience
Some audiences still like cable TV, which could help it hang on for dear life until it figures out better ways of retaining people. If you have family members that are part of older generations, they also can’t remember a time without cable TV but have had more years to become familiar with the model.
When you start mentioning Netflix, passwords, and profile sharing, they’re simply going to check out of the conversation. Despite how manyreasons why cable is well and truly deadyou can think of, there are people out there who refuse to switch and will always refuse.
To many people, cable TV is the simpler option, even if you don’t personally agree with that. Cable TV may experience downturns in popularity, and maybe it won’t be reversible, but it’ll take years, if not longer before it completely dies off.
4. Cable TV Could Lean More Into Local Content
Even though you can tailor apps on your phone to deliver local news stories and weather reports, for many people, it could still feel simpler to just turn the TV on and check the news or weather channels. There is also arguably a growing trend of people feeling overwhelmed by the internet, which could spiral into audiences becoming pickier about the content they interact with online.
This could be a great opportunity for cable TV to lean more into local content with both news and sports. Televising local sporting events, or political meetings, covering news of local areas. The hyper-relevant content, coupled with the simplicity of TV, presents a great opportunity for cable TV to claw out of streaming’s shadow.
5. Cable TV Could Take Care of Its Users Better
Cable TV gives itself room to spin the situation into a positive. There has been a trend of streaming platforms introducing ads and increasing monthly prices.
There are also issues at times with the customer service from streaming platforms, with people struggling to get through to a real person or have their issue resolved. Many users could havetoo many streaming services and feel overwhelmed, whereas cable TV can try to position itself as a one-shop package that helps people simplify personal expenses.
Cable TV providers could maneuver so that their customer service outshines streaming platforms. Offering reduced packages for long-term users, reducing the number of ads, and offering faster support with a human when a customer has a complaint are all ways cable TV could maintain some relevancy and fight back against the turning of the tide.
Cable TV Is Probably Going to Die, but Not Just Yet
Cable TV has probably not faced as big a threat as streaming in its entire lifecycle. Traditionally, legacy technology gets replaced or transformed beyond recognition, no matter the industry.
You have to wonder if cable TV has what it takes to emulate what streaming services are doing and still find a way to thrive in the industry. Even if cable TV could find a way to be relevant and differentiated enough from the streaming model, you have to wonder how likely it is that it’ll happen.
Here are a few ways that streaming platforms are moving back toward the traditions (and headaches) of cable TV.
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