The publishing industry has been struggling with profitability for ten years as they where forced to adapt to the digital reality of the internet. Still they have major challenges as they transform themselves into medias new digital landscape. Now is it the TV companies that can expect disruption to viewing figures & revenue streams that OTT and video streaming will bring?
Traditional linear TV seems to have had its peak and it’s quickly losing market share to competition from on-demand video services online. The biggest reason for this decline seems to be convenience – Anytime – Anywhere – Any device. Money follow eyeballs.
Generation Z and millennial’s are the first to respond and adapt to new technologies, while the median viewer age for cable television is around 64 years old*.
We’ve seen OTT brands like Netflix commission hugely successful series like House of Cards and Amazon Primes’ new take upon the Top Gear franchise.
Such bold action by OTT providers show big ambitions and big budgets that challenge the traditional models for that exist for programme commissioning.
In the light of this ever-changing digital revolution, the traditional networks are beginning to look anything but agile.
It’s not just how you produce TV and video anymore but about how you reach the consumer according to their needs and convenience.
That means investment in technology and creative ideas to generate the demand for content which consumers are willing to pay for. Certainly the appetite for good stories seems have been proven through the binge watching habits of the OTTs consumers, likely driven by the endless stream of cooking, dancing and singing shows favoured by the TV networks.
The traditional broadcasters need to find their niche, invest in new technologies and create innovative new content to capture viewers attention in this now very crowded video ecosphere.
It may take some time but the coming generations of technology and viewers will likely turn the traditional broadcast model completely on it’s head.