When TVs were first created, it threatened the movie business. The increasing popularity took away from the popularity of theaters with the feeling of rarity of watching your favorite actors and actresses on a big screen. This changed America socially and economically. According to 1950s TV Turns on America, TV attracted more crowds by using 3D, stereoscope, and cinema scope.
Perhaps nothing in the 1950s affected American Culture more than television has. According to the article Land of Television, after the war in 1945, only a few thousand wealthy Americans had a television, and ten years later, two thirds owned a TV. With more people owning TVs, companies made commercials to advertise their goods. Not only are these two examples economic, but also social effects. People can now hang out around a TV instead of the radio, and advertisements set the new "Hip-Norms" like Rice Krispies as a cool cereal for families to have.
Some political changes are that TVs are used for Presidential statements and debates. Noted in Land of Television, Harry Truman was the first president to use television. It also helped during the cold war with the "Duck and Cover" commercial. A third political impact it had was during the Kennedy Nixon Campaign, where people can see Kennedy as young and poised, while Nixon looked sickly and sweaty.
Lastly, are the diplomatic changes it had on America. For one, it televised Martin Luther Kings speech which is part of his non-violent protests. Also during the cold war, it helped warn against communism and showed the McCarthy trials. Thirdly, the Cuban Missile Crisis was known widely thanks to the power of television.