Once the life of the party, cable TV is struggling as streaming technology steals the spotlight in TV entertainment. Digital disruption many have finally caught up with paid TV after years of pundit predicting the downfall.
A raging global pandemic forcing Americans to rethink their choices may have been paid TV’s perfect storm. The resulting soul-searching led subscribers to ditching cable TV in droves.
The figures from 2020 are staggering. More than 6 million American households cut the cord with cable TV. So far, more than 31.2 million households have ditched cable. Research firm eMarketer predicts more than a third of all American families, about 46.6 million homes, will no longer have cable TV by 2024.
The quest for matchless convenience.
The demise of cable TV is reflective of what’s happening in the eCommerce world. Old ways are quickly falling by the wayside, fueled by disruptive technology.
In many ways, paid TV is similar to single online purchases from a retailer seller. Previously, online shoppers actively chose the items they needed and then proceeded to checkout. With no timely reminders to restock, people didn’t order on time and so they often run out of supplies. Unless you had a coupon, you had to pay the full price for each item in your shopping cart.
Online stores switched to the subscription model in a push to improve convenience and simplify the shopping experience. Subscribers maintain a shopping list in their account and receive reminders to make timely purchases each month.
Subscribers pay a small monthly fee, and in return, they enjoy a wholesome shopping experience. Other perks include exclusive discounts, offers, and promotions. Just like streaming platforms, subscription services are the new norm when shopping online.
Multiple small, recurring expenses.
Streaming services resonate with most people because they’re way cheaper than cable TV. Premium packages cost $10 to $20, while the base cost of cable TV range from $45 to $130. The cost-saving benefits of switching to streaming services are irresistible.
But at the end of the day, you’ve added another subscription service to your growing list.
Worse still, people increasingly realize they need to subscribe to multiple services to enjoy all their favorite shows. Despite providing unlimited content, streaming platforms don’t always carry popular movies and TV shows. To keep your entertainment roster full, you might need than one service.
A base Hulu package costs $5.99, but if you pair it with a $17.99 Netflix package, and $8.99 Amazon Prime Video, the costs add up. Your bill will be higher if you subscribe to a sports streaming service.
Painless payment systems.
An online streaming service is tailored for your viewing convenience down to the payment system. On subscribing, the platform system keeps your information on file to ease future payments. Some of them use a recurring payment model to automate payments until you cancel your subscription.
Automatic credit card billings and 1-click payments are painless payment systems. You’ll never feel the pinch of handing over hard cash or pause to reconsider your purchase choices. Automated payment systems insulate against the pain of impulse shopping. That increases the likelihood of paying for a service that you hardly use.
Besides, the charges involved when paying for most online streaming services are small, usually under $10 or $20. However, paying for a service that you don’t use is a waste of your hard-earned dollars. It also indicates that you’re not in control of your shopping habits.
With Ok Subscribe, you can harness all advantages subscription services have to offer without ceding control. Ok Subscribe centralizes your subscriptions and purchases into a single dashboard. The command hub lets you track and control your purchases and subscriptions each month. Pause, cancel, or delay subscriptions as you deem fit!