The demise of traditional TV is finally here as people continue to prefer services offered by streaming giants of Netflix, Inc. (NASDAQ:NFLX) and Hulu for watching content. Fewer people are watching TV like how they used to do in the past. Australian Financial Review associate editor, Reports that TV watching is about to become more of book reading as streaming services allow people to watch content anywhere and anytime, something that cable or satellite TV cannot offer.
Netflix VP for Product Innovation Todd Yellin believes the next stage of big data will be dominated by what consumers say about their tastes in relation to the kind of programs they watch making superficial information of location age and gender become absolute. Netflix, Inc. (NASDAQ:NFLX) recommendations engine is allowing the streaming giant to gain an upper hand in the streaming business compared to its rivals.
“Netflix, Inc. (NASDAQ:NFLX) doesn’t just know whether you like romance as a genre. The company’s recommendations engine can pick your favorites from tens of thousands of micro-genres. Of course they can tell what time you watch, how much TV you watch in any session and what screen you watched it from,” said Mr. Chow.
Traditional TV ratings are at an all-time low with the cable industry attributing the decline in subscriptions to the risk of on-demand video and streaming services. Things look really bleak for traditional broadcasting as more streaming services come online and Netflix, Inc. (NASDAQ:NFLX) ongoing international expansion. Presto CEO, Shaun James, is already confirming traditional TV worst fear that people are watching more content online than initially thought with the trend expected to persist.
However, Broadband speeds continue to be the biggest threat to streaming services reaching more corners of the world and being accepted as the mainstream mode of watching content.
“Until we have really high-quality ubiquitous broadband then we are going to have a place for digital terrestrial television,” said Megan Brownlow of PWC
Netflix, Inc. (NASDAQ:NFLX) is not worried about internet speeds as chief product officer Neil Hunt affirms they will continue to deliver quality pictures even at speeds of 1Mbps.
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