Cable has been losing ground to satellite, netflix, hulu, amazon, sling, etc because people are looking for less expensive options. If cable companies refuse to become competitive price wise with other more affordable options they will soon go out of business. Not enough people are going to continue to pay well over twice what they would have to pay for something else.
With the prevalence of the internet cable has lost it's use, hell I haven't even turned on my tv in 2 years because it's 15 minutes of ads, with 30 mb/sec internet speed I have 0 problem with my internet, heck I've never has any connection problems whatsoever, then again even if I did have connection problems I would still take those over 15 minutes of non stop commercials
No, cable is not going to be extinct any time soon. While many new sources for news and entertainment have popped up, there is still a need for cable channels. Many people have not caught up to the newer sources and others are very connected to the familiarity of cable.
Things that are meant to replace cable are still in their infancy. They have connection problems. If you lose your internet, you also lose your television. Cable still offers the best value to get reliable television service in one place. They also offer all of the best networks in a convenient package.
As Americans cut the cable cable will not go extinct. However, for it to survive it will have to rethink how it sells its products to be able to more aptly compete with these up-and-coming technologies that are directly cutting into cables profits. This is great news for the consumer.