While some industry players believe that cable TV is on life support, others claim that it’s here for the long haul – us included. While over-the-top providers like Hulu, Netflix and Amazon Prime offer consumers the ability to watch television shows and movies on demand, it still doesn’t measure up to traditional pay-TV. The truth of the matter is most people simply aren’t ready to cut the cord.In fact, the 100 million households in the U.S. that pay for traditional TV far outnumber the small amount of households using streaming players. Comcast, for example, experienced a 17 percent increase in net income to the tune of $1.44 billion last quarter, despite losing 62 percent more subscribers than it did during the same period a year earlier, according to the New York Times.
One of the main reasons why cable isn’t going anywhere anytime soon is because streaming services, like Apple TV and Roku, don’t provide the same kind of variety as traditional pay-TV. Moreover, streaming services are seen as “complementary” to pay-TV. In fact, nearly 85 percent of people who own streaming players also subscribe to cable or satellite, according to the technology research firm IDC.
“You can’t replicate what you get from paid TV cobbling together Netflix, Hulu and Amazon Prime,” added Greg Ireland, research manager of multi screen video at IDC.
Streaming players may be able to connect you to last year’s full season of “New Girl,” but it can’t deliver live sporting events or the latest seasons from many of the top channels, including ESPN, HBO, TNT, USA and Discovery.
So as long as content remains king, cable TV should keep its place at the top.