Do you have a contentious relationship with your cable company? Has your cable bill doubled in the past ten years? Are you finding yourself or your family members watching TV over the internet more frequently?
If you answered yes to any of the above questions, you might be ready to “Cut the Cord!!” This is a fairly recent phenomenon and signals the biggest change in how media is consumed since the internet began killing the print version of newspaper a decade ago.
Consumers now have alternatives to dealing with their dreaded cable providers – these include Netflix, Hulu and Amazon Prime. Nearly 1 million households have “cut their cords” during the last 12 months – and while this represents a fraction of the estimated 100 million cable households in the United States, this is no longer being viewed as an “urban myth” but rather a growing trend. It is estimated that by 2016 nine million households will eliminate their cable subscriptions entirely. The number one reason given by consumers for cutting their cord (83%) is that the subscription has gotten too expensive.
Think about the generation that has realized they no longer need a land line and opted to use their mobile devices as their only phone. These are the people who will most likely opt out of the cable universe. According to Forrester Research 32 million consumers are already getting video over their televisions using Internet devices such as Xbox, Blu-ray players and smart TV’s.
All of this change creates new opportunities for content creators of which there is no shortage of!! The real winners may end up being the technology companies like Google, Apple, Microsoft and Amazon as they have the ability to operate across the divide of selling content as well as designing the devices on which the content is viewed.
I believe the other winner in this game may ultimately be the consumer who will have more choices and by virtue of the marketplace may will pay less for these choices!! Cord cut away!!