Music and film lovers such as Audrey Matusz are not afraid to drop cash for streaming services. “I stay on the go, but don’t want to have to miss my favorite show like Insecure, or miss new music albums drop. Plus, I am barely ever home to watch TV or chill on my laptop. I’m always on or have my phone which I can access them from,” says Matusz.
Caroline Bruce, a professor at Michigan State University’s Eli Broad College of Business, says streaming entertainment services are booming in today’s society.
“Most people especially millennials, are always on the go. Most don’t even have cable or even television, with everything being accessible online it makes it more convenient,” Bruce says.
“Even though more people are working more, that does not mean they don’t want to be entertained, in addition to wasting their money. Also, we must keep in mind that today’s generation like things quick, and on their time. Therefore streaming services allow just that,” Bruce added.
When asked if these streaming services is considered an investment, or splurge, Bruce responded by saying it depends, but it’s more of a investment.
“You are getting something accessible whenever and wherever you go, with an almost unlimited option base. Also, compared to cable ranging from $60-$80 (or more), to $7.99-$10.99 for streaming services,” she explained.
Bruce believes that in the next five to ten years, if cable don’t go digital and create more streaming content that can compete, they are in danger of becoming an obsolete form of entertainment, with streaming services taking over.