Why watch the news channels when you can get the same news via youtube/fb on demand. I haven't turned on the news channels for years. The relevant clips from news channels I may be interested in are available on siasat.pk, youtube, fb etc.
Then there are many beat reporters who have started their own youtube channels who are reporting from source, who are much more accurate then AAWs sitting in studios with their own spin.
And this is not just news channels, but all channels who are going to be loosing viewers to online content. Even the big media companies in the west are starting their own streaming services, HBO, Disney etc to compete with Netflix/prime
Live sport is probably the last popular thing on TV, and online channels are starting to get into that as well (Live tennis is now available on Amazon prime).