so long cable
Cable companies continue to increase their prices but at what cost?
As these businesses fail to recognize the changing times, more customers are switching to cheaper and more quality options.
With the popularity of online streaming services such as Netflix, Hulu and Amazon, people have been opting out of traditional cable services. In the last few years the trend has seen more switching to online services and cutting the cord altogether.
So what have the cable services done to prevent this?
Cable services continue to increase in price despite their decreasing clientele. They are not even a worthy opponent when compared to online options. Do they just not want the business anymore?
Recently, TiVo announced the results of their Video Trends Report, a survey they have been conducting since 2012. In the most current results, almost half of participants said they were considering ending or switching their cable services.
It all comes down to money.
Current cable packages are too expensive for the average household to continue. In fact, 37% of survey participants claim to pay over $100 a month. On top of that, less than a quarter of consumers reported that they were satisfied with the services in the first place.
For most, the increasing bill is the primary reason.
Many also say that cable bundles include a ton of channels that are not even necessary. No matter if you have 100 channels or 20, chances are that the average watcher will only frequently use a few.
Some people think reducing channels may lower the cost, though as history tells us, cable companies will continue to find a way to overcharge.
As consumers become smarter about their options, cable companies are choosing not to follow in their footsteps. Online services cost less and have high quality programs that people want to watch.
Over half of those surveyed in the Video Trends Report said they have a Netflix subscription.
If this is the case, then cable will continue to become less of a necessity. For now, the only thing cable companies can offer is a guarantee of an ever-increasing bill.