In today’s digital era, everything is about becoming mobile. Banks, video games, shopping services — you name it. Even the smallest of corporations want users to be able to access their products anywhere, at any time.
For many folks, the ability to stream their favorite movies and shows at anytime could sound like heaven, but how many streaming services do we actually need?
Millennials and Gen Z have been on the wave of using streaming services as their main source of entertainment as early as 2013, and made streaming services more trendy in 2015, when young adults coined the phrase, “Netflix and chill.”
In 2017, we saw an increase of young adults cutting their cable for services like Netflix, Hulu, Tubi TV and Amazon Prime.
More than 61 percent of adults ages 18-29 used online streaming services, according to The Pew Research Center’s 2017 study of online streaming.
And that number of cable cutters is steadily increasing.
“By the end of 2021, more than a fifth of U.S. households are expected to be cord-cutters,” according to an August eMarketer forecast on AdWeek.com.
Many networks are beginning to merge and partner with other companies to provide a streaming platform for their customers who are cutting cable like HBO Now, CBS All Access, YouTube, Disney Plus and BET Plus.
But as a Gen Z, broke college student who loves her TV dramas and horror movies, I’m being forced to pick from an overwhelming wide variety of streaming services. It can be frustrating because each one has at least one feature, show or genre that young adults are looking to watch.
Slowly but surely, we’re already seeing streaming services compete like it’s the Hunger Games by fighting over which service gets the rights to different shows and movies.
NBCUniversal will be releasing its streaming service “Peacock” in 2020 and paid $500 million to gain the rights to “The Office.” Netflix paid the same amount for the rights to “Seinfeld.”
I can’t choose multiple because I would be spending an absurd amount of money to nitpick through each service.
Not only are these streaming services providing some of our favorite shows and movies, but now services have introduced live streaming from the same channels we would receive through satellite cable.
So what’s the point, if I’m going to cut my cable to get the same thing on my streaming services? But the number one reason for adults cutting their cable for streaming services is to reduce costs.
Netflix unveiled its fourth price increase within the last five years earlier this year, which caused quite a disturbance for users. Other companies like Hulu, DirecTV Now and PlayStation Vue have also increased their prices within the last four years.
With the growth of so many networks creating streaming platforms, it’s a concern that the prices could increase until we’re back to square one —which means paying a ridiculous amount of money for TV.