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If this was your business chart you should be worried.
At the beginning of this month I decided to pull the plug on the local cable television company. We had Netflix and the local cable company so it was really a waste of money having both.Basically the one was used by me and the rest of the family watched Netflix.It will save us around $80 a month and I should have done it months ago.
I only subscribed to it for the sport and if we are honest the quality of sport around today is not great. I have stopped supporting the local sport and only watch sport from overseas. The Political meddling was unbearable and so racist it left a sour taste with me and they lost a local sports fan. I watch the English Premiership and Champions League along with the Formula one these days.Obviously I watch the various World Cups and winter and summer Olympics when they are on.
Last month I turned the television on to Discovery as that was the only other channel I watched besides the sport and low and behold a rerun from a show that was at least 5 seasons old. This I found to be common practice and enough is enough. If viewers like watching reruns every few months then that is for them to decide, but I am not paying for this.
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Today I looked up the effect of competition on our cable tv company and it is massive. It is reported that they have lost over 100 000 subscriptions this year already and it is climbing month on month. I don't believe these figures as I know of at least a dozen people who have all stopped their subscriptions. Money is tight and if you don't offer value people will look elsewhere.
Without competition they could do what they wanted to and now they are on a massive slide.With Netflix around and growing they have to come up with a solution and fast.The world is changing and with streaming available due to better internet speeds anything is available if you just look.I have found an app on my Fire Stick television device that gives me access to around 160 sport channels which has got me smiling from ear to ear.
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Africa is coming alive as it was starved of bandwidth and now cable is finally here.
Fiber has been run out through the country over the last couple of years now and only a few areas are still waiting for this service to be available.This doesn't only effect the TV company though as the local telephone company has and is losing out each month. The government run telephone company called Telkom is the one that is going to suffer the most I think. They had a monopoly and now they are not good enough and are being attacked on all sides by the competitors. Good riddance as it was not a great service that they offered.They have set up a subsidiary called Open Serve for internet clients, but it is still Telkom in disguise and they will fail.
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This was taken last year about 5 minutes from my house. A fantastic site to see knowing cable was finally coming.
10 years ago everyone had a land line at home and today I don't know anyone who has one. We all use our cell phones or skype or some other technology. That was a lot of line rentals that just disappeared over time.We used to have a line for our internet as there was no competition so only until recently did we get rid of that service. I know they are suffering as I see their weekly specials and receive more than one phone call a week offering me a special package. Thanks , but no thanks is my reply.
The same will happen with the electricity company that supplies us with our services each month. Within 5 years very few homes will be on the grid and mainly self sufficient besides the water. I can see the water prices rising to subsidize what they have lost in earnings from the electricity side and that will be another story when that happens.
This has all happened in the last few years and we are talking about Blue Chip government giants and there is nothing they can do. Technology is changing how we live by giving us choices that weren't available 5 years ago. The banking world is most likely the next victim as we move into block chain and crypto currencies and there will be a massive change at some point. The FUD is being driven by those that can see it coming and are just trying to drag their heels.I give it less than 5 years as I have seen this happen in way less time and the momentum for the above mainly happened in the last 2 years.