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Do people still watch and pay for cable TV?
My understanding is that it’s popular with people who follow sports. The broadcast, everyone-sees-the-same-thing-at-one-time is a good match there.
I moved recently and decided against a cable subscription as 99% of my use was for sporting events. Since I moved a long distance my local hockey team was not going to be on TV anyway. While there are ways to watch live streams of games online the legal ways are stupid expensive and the alternatives often suffer from quality or buffering issues.