76% Of Netflix, Inc. (NASDAQ:NFLX) Subscribers Predict Ultimate Death Of Legacy TV

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Most of those who have tasted Netflix, Inc. (NASDAQ:NFLX)’s streaming video service believe the legacy television providers have no future. A recent survey by AllFlicks showed that 76% of Netflix users believe online video services will replace cable television.

One of the reasons Netflix, Inc. (NASDAQ:NFLX) subscribers are satisfied with the services the company renders is that they believe on-demand streaming videos eliminate the need to flip through different television channels. Netflix’s huge catalog of shows also means that a subscriber can binge watch their favorite movies for hours on end.

Concern for legacy TV

The AllFlicks survey adds to the worries of cable TV providers who have increasingly become concerned about cord-cutting trends. Netflix, Inc. (NASDAQ:NFLX) also adds to the misery of legacy TV providers because the company doesn’t appear to be worried about their existence. For example, Netflix has recently suggested that it is less concerned about cable TV than alternative streaming services such as Amazon.com, Inc. (NASDAQ:AMZN)’s Prime Video and others.

Sports and news

However, not everyone is sold to the idea that traditional TV is on its way out. As much as Netflix, Inc. (NASDAQ:NFLX) and similar streaming services have done a great job of creating a catalog of powerful and exclusive shows, people still stick around cable TV because of news and live sports. That means that if Netflix could start streaming live sports, then it would likely be over for traditional TV.

Movie theatres

But there is another limit to streaming services. Nearly 68% of Netflix, Inc. (NASDAQ:NFLX) subscribers polled by AllFlicks said that they don’t see streaming video providers replacing movie theatres. That is another way of saying that while Netflix, Prime Video and others might bring the curtains down on cable TV, movie theatres are here to stay. Reason? Some say that theatres are just magical in nature and there is no way to replace them.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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