Sony has just given an official statement that they will discontinue their PlayStation Vue internet TV streaming service. Now that they are out of the way, YouTube TV is attracting their former users to make a profit.
What is YouTube TV doing to the cable industry?
The competition between these two services was brief but also finished fast. According to a Japanese website that specializes in giving new about technology, a great bunch of users would rather stream YouTube TV instead of having a cable connection because of the availability of about 70 different channels and an uncountable amount of videos.
YouTube used to be in a different category as other cable companies, but now they are seen as a fierce opponent. Their YouTube TV launched just recently on PlayStation 4 and is already picking up previous users of Sony's PlayStation Vue. The convenience and simplicity of YouTube TV make it automatically attractive to fans of cable.
PlayStation Vue is signing off
On the notice given by Sony, they mentioned that the new trial and also the existing paid subscribers sign up has already been deactivated, and measures are already being taken for the company to send final payments throughout the active or existing subscribers last December.
This exit strategy is not ideal, but it is the best option to save Sony from crippling losses versus YouTube TV. Instead of being crushed by their competition and engaging in a brutal war with competitors, Sony has simply decided to put their efforts elsewhere.
Sony's announcement on the matter
An astounding statement was given by Sony as they announced in October that their PlayStation Vue would continue no more, including the words "competitive Pay TV industry" and "expensive content." The announcement stated that "the highly competitive Pay TV industry, with expensive content and network deals, has been slower to change than we expected," according to John Kodera, the PlayStation Deputy President.
Other players in the internet TV industry
Apple and Disney have been in the works to launch their now-available internet streaming services, and they have already gathered quite a respectable amount of users. This puts them in direct competition with Netflix itself, who was an early player in the internet streaming industry. Sony, on the other hand, has stated that they will focus their efforts on what they do best, gaming.
The internet streaming industry is still very young, but it is expected to get bloody as big players are beginning to join! Netflix is not the only one that offers this service, but when we talk about internet streaming services, Netflix is usually the first one that comes to mind.
YouTube TV and why is it a threat to other companies
YouTube has been a worldwide go to the website at first for videos and sometimes even series, which is why YouTube TV has decided to take advantage of the growing trend and monetize their users while providing better services at the same time. YouTube already had the existing audience, and this is one of their biggest advantages. PlayStation Vue is one of their competitors that have stepped back.