We’ve turned to premium cable stations like HBO and Showtime to bring premium entertainment, from the latest movies to shows like Sopranos and Sex and the City. Not only is online streaming challenging their popularity, they seem to be taking it over.
According to an independent research firm called NDP Group, subscriptions to premium cable channels six percentage points between spring 2012 and summer 2013. Meanwhile, on-demand services like Netflix, Hulu and Amazon Prime Instant Video increased by four percentage points. But HBO says it gained a million subscribers since January 2013. Starz says it added 1.2 million. But Netflix alone has increased subscriptions by 24% in a year difference.
Let’s look at some other stats. I read somewhere that cable companies are among the most hated companies in the US. They’re definitely among the most expensive for what you’re getting. Some are switching to satellite. Yes, the service and product is better, but you’re often at the mercy of the weather. But you can get Netflix at $7.99 a month. So is Hulu Plus. Netflix is already producing their own shows, and winning awards for those shows like House of Cards. Whether they want to admit it or not, online streaming is the wave of the future. People are even hooking up systems so they can watch You Tube on the big screen. Maybe cable companies can lower their rates, treat customers a little better, or produce better shows. Does premium cable have a chance against online streaming TV?