Yesterday while watching TiVoed episodes of The Office and searching around online, I came across a Time Value Calculator. Although only mildly useful, this tool got me thinking – What is time really worth?
Is it worth the $70.00 a month subscription fee to TiVo all your favorite shows, or the $1.99 to download an episode of your favorite show from iTunes to watch at your convenience?
For me personally, $1.99 seems like a small price to pay for the convenience of seeing a commercial free version of an hour long show condensed down to 40 minutes and viewable anytime I want. Given recent numbers showing that over 4 million households have a TiVo subscription, the tens of millions of TV and movie downloads on iTunes, and even the fact that networks are now offering episodes of shows online, I am not alone. Time is a very valuable commodity, and anything that can help save or restructure it around my needs is very useful.
As more and more consumers convert their viewing habits to these new forms of media distribution that put the control in their hands, and realize how convenient and time-saving these alternatives can be, it becomes increasingly apparent that the traditional TV delivery format needs to adapt if it wants to stay competitive.
After all, isn’t your time worth more than $1.99 an hour?