Title: The Dark Side of Streaming and the Return to Cable TV: A Millennial Perspective
Subtitle: Rising Prices and Advertisements on Streaming Services Prompt Users to Reconsider Cable TV
In recent news, streaming service giant Netflix has once again announced a price hike, leaving many users, including myself, questioning the viability of the streaming model. As a Millennial who first embraced streaming as a cord-cutting alternative to costly cable TV, it is disheartening to witness the gradual demise of the very foundation that led to the popularity of streaming services.
A decade ago, Millennials like me turned to streaming platforms such as Netflix to save money in the aftermath of the 2008 Financial Crisis. At that time, sharing password credentials among friends was a common practice reminiscent of the file-sharing era of Napster, Kazaa, Limewire, and The Pirate Bay. However, streaming services have since cracked down on password sharing, a move that is understandable yet far from ideal. Simultaneously, these platforms have also raised their subscription prices, citing the need to compensate writers due to the resolution of the Writer’s Guild of America strike.
Netflix is not alone in implementing these changes. Other major streaming services like Disney Plus, Discovery Plus, and Max are also increasing their prices and offering ad-supported tiers. This trend extends across various platforms and includes Hulu, Peacock, and many others. As a result, users are beginning to question whether the convenience and content offered by these services are worth the escalating financial burden.
Amidst these developments, I find myself contemplating the very purpose and allure of streaming. With the hike in prices and the introduction of ads, the value proposition seems to be diminishing. As a resolution to this frustration, I am tempted to return to cable TV, despite its well-known flaws and expensive plans.
The reasons that initially led me away from cable TV still persist. Cable TV plans remain exorbitantly priced, customer service often disappoints, and the monopolistic control over geographical regions limits consumer choices. These factors were instrumental in my shift towards streaming services a decade ago. However, it seems that the wheel has come full circle, and the current streaming landscape mirrors the very dilemmas that pushed me away from cable TV.
The decision-making process involved in choosing what to watch and which streaming service to subscribe to has become burdensome. Furthermore, the hassle of remembering passwords and being logged out across devices only adds to the frustration. As someone with a busy life filled with work, family commitments, relationships, and friendships, the thought of juggling multiple streaming services and their associated costs on a sporadic basis becomes overwhelming.
Regrettably, the obvious solution presents itself: returning to cable TV. While cable companies have their fair share of problems, at least their offerings are straightforward. This return does not come without acknowledging the harsh truth – excessive choice has become an unwelcome burden for which I am no longer willing to pay a premium.
In light of recent events, it becomes clear that many tech companies, including Netflix, heavily rely on negative interest rates provided by the US government to sustain their operations. Enabled by government-backed debt, these companies have pursued rapid expansion, often without yielding substantial profits. However, with interest rates now being raised to combat inflation, companies find themselves compelled to generate profits through advertisements and higher subscription fees – a model that resembles the long-established methods of cable companies.
Consequently, streaming services are gradually morphing into the very entities they initially sought to disrupt. Higher fees, increased ads, and a decline in production values are inevitable consequences of this shift. Even popular shows are becoming casualties as streaming services strive to ensure financial viability. The loss of quality content and the inability to binge-watch an entire season in one sitting further elucidate how the streaming landscape has changed from its glory days in the 2010s.
Ultimately, the essence of what made streaming services great is fading away, leaving users dissatisfied and longing for the simplicity and predictability of cable TV, flawed as it may be.
As a Millennial searching for a balanced and affordable entertainment experience, it is disheartening to witness the demise of streaming services’ initial promise. The appeal of streaming, with its low cost and vast content library, is gradually being overshadowed by rising prices, intrusive advertisements, and a dearth of high-quality productions. As the streaming industry transitions into a landscape resembling traditional cable TV, the question arises: was streaming a mistake after all?
