Digital media is evolving so constantly it’s hard to keep up. Just recently Hollywood dodged a writer’s strike giving way to more support for the hardworking writers who create compelling stories for the TV & Film industry. It’s a big win for creativity, and while one might think that the future of TV is bright, it is one that will be crowded, netting out some big winners and even bigger losers.
This week, traditional broadcasters like Fox, CBS & ABC take to the annual New York Upfronts where they will pitch advertisers on why they should be awarded billions of their advertising dollars. The problem, cord-cutting is accelerating as broadcast viewing has been down year over year and is rifled with troubled media stocks. Cable providers are bemoaning the cooling ad-market and are overall suffering from a decline in Pay TV subscribers (1.4M in subscribers last year combined), while digital advertising has already surpassed television advertising in the United States.
Fewer people are watching “Live TV”, and it’s affecting everything, even sports, which was once thought of as untouchable. Now, staples like ESPN are issuing layoffs amidst declining viewership and competitive new platforms challenging the traditional model.
While the old guard is marred with issues as they adapt to the new landscape, the internet is disrupting how we view content on every other screen. This shift and opportunity is giving way to major tech companies with large amounts of distribution, like Twitter, Amazon, Facebook, Snapchat, Youtube, Apple and Spotify. All these companies are creating original content with large amounts of money to spend, huge celebrity castings, challenging new ad & subscription models and massive user bases.
Meanwhile, shops like Hulu, AT&T, Dish & Sony are convinced they can lure people back to live TV packages by offering a slimmer selection of channels at lower cost to your traditional cable package termed as “skinny bundles”. We’re also seeing a lot of investments, acquisitions, mergers, & integrations as the incumbents strive to stay alive.
None of this should be surprising though, what’s truer than ever is that there will always be content, viewers will always watch, and businesses will forever try to figure out a way to capitalize on that. Companies who can grab user attention and adapt to technological shifts are poised to make money. In the future of TV, businesses who can adapt to all the platforms are the victors, but consumers carry all the leverage and are the ultimate winners. They are unbundling and watching various amounts of content wherever they want on whatever platform they choose.
Being the winners you are, we’re curious to know your current favorite TV shows. It could be Master of None, Game of Thrones, The Handmaid’s Tale,whatever. Let us know and we’ll include the top ones in our newsletter next week.