By Professor Anthony Rivieccio MBA PFA
We are all excited for streaming media. After all, it’s still brand new to us! . See it live on your phone! It’s portable ! It’s cutting the cord! It’s exciting!
Until last week, when Netflix just lost 30% of its value by losing over 100,000 subscribers !. Until CNN+ just closed down—– 30 days after it opened, with only 10,000 subscribers!.
Streaming media, in it’s purest sense, would be a subscription based product that would house: Video, Podcasts, Chatting and LIVE Programming. — while full of advertising.
And if you pay $5.99 to $10.99 to $15.99 a month, per channel,then you think your getting a great deal, instead of a $200 + cable bill, right?
Like I always say with the new medium, it solely depends on your measurement of consumption.
But yes, we’ve been tricked! Not today, 40 years ago. Once we learned that we can go from 12 broadcasting TV channels to 300 Cable channels, we thought we were getting a great deal. We also thought ( during that time) that with the NEW cable , being priced like our phone bill , that we thought of our new cable bill , like a utility bill.
Is your Cable bill bigger than your phone bill today? Do you watch your 456 Cable channels?
Yes and if we’re not careful with streaming media, it might be the same again.
Let’s have 30 streaming channels. To replace the 30-40 channels on cable.All at 7-10.99 a pop!. Sounds good? Like your streaming bill? Do you watch all the streaming channels? A more interesting question, are any of those channels on the internet for FREE, right now?
The consumer will eventually lose out if there not careful. CNN+ did not get cancelled over profitably or because of their recent merger, they only had 10,000 subscribers for one reason —- because the consumer can get 80% of that content on their parent FREE website, CNN.com, NOW!
Yes, reading the NY Post daily newspaper is wonderful for FREE . Many ask me, don’t you read others?. Of course I do but if my objective is to read real time news, then why would I want to pay subscription prices at the NY Times & NY Daily News , when I can get my news consumption for free, from the NY Post, CNN, to many local news channel websites, that videostram for free.
Streaming media, being new is very exciting. When you find out your gonna pay more than your cable bill by having 99 apps on your phone , let me know if that’s exciting too.
Examine your content consumption.
Professor Anthony Rivieccio, MBA PFA, is the founder of The Financial Advisors Group, celebrating its 25th year as a full service investment planning & management firm . Anthony is also owner of Rivieccio Financial Advisors, a virtual only financial planning & advisory firm, opened in 2021.
Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Co-Op City News, The New York Parrot, The Bronx News, thisisthebronX.info , The Bronx Chronicle & The Parkchester Times. Mr. Rivieccio pens a financial article called “Money Talk” along with
” Financial Focus”.
Anthony is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University.
Financial Focus University TV can be seen every Friday , Live 5PM, on The NY Parrot Facebook & YouTube page channels .
Financial Focus Digital is our new Financial Planning Facebook Library found in FB Groups.