Despite what you may have heard or read about cable's value as a media industry, cable TV is in the process of gathering its last rattling last breaths with deep sea diver sounds, according to The Week.
The magazine, in fact, has offered up four reasons why the industry is gasping its last breaths on its deathbed, starting with the unheard-of loss of subscribers in the second quarter and the head shaking of Verizon (NYSE: VZ) CEO Ivan Seidenberg who pronounced cord cutting a real and imminent threat to cable.
Second on the magazine's list is competition from the likes of Apple (Nasdaq: AAPL), Netflix (Nasdaq: NFLX), Google (Nasdaq: GOOG) and their ilk. The next sign is that Blockbuster, a bloated and outdated model, is going bankrupt and cable should "heed the lessons." Finally, the story cites the fact that cities are "preparing for life after cable" when they'll have to find new sources of revenue after cable bites the dust.
The signs, the article concludes, all lead to one conclusion. "Cable television is the next 'traditional media' doomed to a long, slow death."
- see this obituary
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