Gone are the days when we only had a handful of choices for TV streaming. Nowadays, the list seems to be never-ending as the options keep growing. Many prominent names in the industry are all set to launch new streaming services to further extend the streaming options we have. The TV industry that was once ruled mainly by the cable TV providers, is now observing a major shift. We see more users cutting the cord and switching to any of the TV streaming services unless you have subscribed to one of the flawless Spectrum cable plans to satisfy your entertainment needs and budget.
Except for a few genuine cable TV providers that never fails to deliver high-quality services at the most cost-effective prices, the majority of providers in the market seem to disappoint their subscribers by imposing hefty cable TV bills and not delivering what they promise. Thus, the outcome is users canceling their cable TV subscriptions and opting for the more attractive and comparatively cheaper TV streaming options. This is the reason that there has been a massive growth in the number of streaming services and their subscribers in the past few years. This rising competition also led to greater accessibility and cheaper rates.
Let us dig in deeper as to why there has been a big leap when it comes to an increase in the number of TV streaming services.
Increasing Acceptance Among Users
It was not more than a decade before when you would think over again and again for cutting the cord, knowing that you do not have many alternative on-demand service options. But nowadays the extent and quality of content offered by these services are more attractive than ever. Everyone seems to have caught the fever of Netflix or Hulu originals. The online libraries of TV shows and movies offered by these streaming services are massive with all the content you can ask for.
Netflix seems to be making waves because of its popular originals that make people wanting for more. Sling TV is aiming for providing streaming live TV, and other services coming up with their attractive offers. Every streaming service seems to have its strong attributes so it is up to the requirements and choice of the users. If you are a sports fan, you would rather prefer services that put sports first, like Fubo TV, PlayStation Vue, etc. Marvel and Disney character fans would want to go for Disney+ while those who love watching seasons would want to subscribe Netflix.
The Big Challenge-Retaining Subscribers
With more and more streaming services popping up now and then, while we hear news about the launch of Peacock or Quibi, the rising competition has led to the war for retaining the subscribers. Streaming services are coming up with something more to offer to their users so they do not lose them. This includes exclusive content or cheaper rates. It will not be an exaggeration to say that there is a streaming war where we see tycoons like Apple. Disney of HBO coming upon with their streaming service along with original programs to win over the viewers and gain maximum attention in the market.
When it comes to the popularity and increase in streaming services, it is clear that users do not want to be bound to a certain TV schedule. With the video streaming options, you no longer have to struggle to watch your favorite shows. It is all up to your mood and spares to watch whatever you want and wherever you want. Traveling to your office on a train or a bus has become more entertaining as you can enjoy an episode of your favorite show along the way. Be it having lunch at your office, or coffee at a café, you always have access to any type of content you want to watch with a streaming service subscription of your choice.
Personalization is the Key
In today’s era, where the sky is the limit to entertainment and accessibility, greater personalization options are one of the effective keys to flatter users. Streaming services seem to be doing it very well. The availability of various video streaming apps and services these days offer impressive recommendations based on your viewing habits. You have greater customization options for the content of your interest.
The aforementioned aspects throw light on the stance of why we see so many streaming services booming the industry. The greater affordability, convenience, reliability, and customization has driven the major shift from cable TV to the more budget-friendly and popular TV streaming services. However, this shift and increase in the video streaming trend have resulted in challenges for the streaming services as well as the users.
We see those who are willing to ride this bandwagon while others who are still reluctant for cutting the cord. The streaming services seem to be trying hard to sustain the growing competition among each other as they continue to win maximum subscribers and make a strong impact in the market.