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With more people watching content on Phone, is it the end of TV?

According to a new report by eMarketer, the end of Television era might be looming nearby. The television industry in the US is suffering as people are spending more time watching content on their phones than on television. In the last 5 years, the mobile screen time for people has increased by 70 minutes and with multiple options for content like Netflix, Amazon Prime and others that is only going to increase more.