Cable providers are still alive and well, but there’s no denying that more and more viewers are cutting the cord and turning towards streaming services like Netflix for their entertainment fix. Currently, Netflix boasts approximately 70 million subscribers, a nearly 75% increase from its subscriber base just two years ago. Looking forward, it stands to reason that the number of Netflix subscribers will only continue to rise, further exacerbating the problem of shrinking TV profits across the board.
With revenue down, networks and cable providers are anything but oblivious to the changing TV landscape. Not only are they well aware of the competitive threat posed by services like Netflix, Sling TV, Amazon Prime, Hulu, and HBO NOW, they’re finally starting to take measures to help reverse the trend.