Future of television in the Age of OTT platforms and Digital Content

Dear Leedster!

How are you? It’s Wednesday and time for weekly insights from the media and entertainment industry. In this digital day and age when we are spending a ton of our time consuming content on mobile & internet, have you ever thought about what's happening in the Television Industry? Is it on the decline, how is the television content evolving and if at all it will coexist or perish in the times to come. Let’s delve into this interesting topic today.

By the way, Referral Program is live now ! Reach Out to your network and refer to Leeds1888. Upon 10 successful subscriptions you will get an Amazon Gift Card worth $20 on your mail. So let’s get the ball rolling and grow our newsletter.

Before we get onto the main story, here’s what I cover in this newsletter

• Box Office Collection Report: Hollywood and Indian Movies

• In Focus story of the Week

• Top News from the Media and Entertainment World

• Top Shows running across OTT platforms

Television, once hailed as one of the most influential mediums of communication worldwide, is now facing significant challenges due to the emergence of OTT (Over-The-Top) platforms and digital content distribution. With the rise of streaming services and on-demand viewing options, many have questioned the survival of traditional television. Let’s learn about its history, current state of affairs and potential solutions for its survival in the digital age.

The Evolution of Television

Television's humble beginnings: Tracing back to the early 20th century, television started as an experimental technology and gradually became a mainstream medium. American inventor Philo Farnsworth is credited with the invention of television.

Emergence of broadcast television: In the 1950s and 1960s, television grew rapidly, captivating audiences with its live news broadcasts, variety shows, and popular dramas./

In 1928, WRGB (then W2XCW) was started as the world's first television station in New York.

Transition to colour and cable: The 1970s and 1980s witnessed the introduction of colour television and the proliferation of cable networks, expanding viewers' options.

The golden age of television: The late 1990s to the early 2000s marked a surge in high-quality content, with shows like "The Sopranos," "Friends," and "The West Wing" along with Indian shows like “Saas bhi Kabhi bahu thi” and “Kasauti Zindagi ki captivating global audiences.

But why am I taking you on a journey through television's history? The reason is simple: by exploring its past, we can appreciate how television managed to stay significant for nearly a century. It continuously adapted and reinvented itself, remaining relevant in terms of content and technology.

The big Question is - Is Television reinventing even now or simply succumbing to the more superior OTT platforms ?

The Rise of OTT Platforms and Digital Content

Impact of OTT platforms: With the advent of Netflix in the late 2000s, followed by Amazon Prime Video, Hulu, and others, traditional television faced a formidable challenger.

Expanding content options: OTT platforms disrupted the traditional broadcasting model by offering extensive libraries of movies, TV shows, documentaries, and original content.

Viewer preferences and convenience: The on-demand nature of OTT platforms appealed to viewers, who increasingly embraced binge-watching and personalised viewing experiences.

The Current Situation and Challenges

Declining viewership: Traditional television networks have experienced a decline in viewership, as audiences shift their attention to OTT platforms and digital content.

Fragmentation of audiences: The abundance of streaming services has fragmented audiences, making it challenging for traditional television networks to capture and retain viewers.

Shifting advertising landscape: Advertisers are redirecting their budgets toward digital platforms, as they offer more targeted advertising opportunities and measurable ROI.

Adapting and Surviving

Embracing digital transformation: Television networks must adapt to the digital landscape by investing in streaming platforms, developing mobile apps, and enhancing online presence.

Producing compelling content: To compete with OTT platforms, television networks need to focus on creating high-quality and engaging content that resonates with their target audiences.

Leveraging data and analytics: Utilising viewer data can help networks understand audience preferences, tailor content offerings, and personalise advertising strategies.

Author’s Viewpoint

While the future of television may seem uncertain in the age of OTT platforms and digital content, there are avenues for survival and evolution. Traditional television networks must embrace digital transformation, produce captivating content, and leverage data-driven strategies to remain relevant. For the time being it looks like OTT and digital platforms are the natural successors of television.

Watch this interesting video on the viewership data for OTT and Television in USA

• Apple has launched its VisionPro mixed reality headset at a whopping price tag of $3499. Read more about its first impressions on https://techcrunch.com/2023/06/05/first-impressions-yes-apple-vision-pro-works-and-yes-its-good/

• Now AI poses a threat to the Newsrooms ! Read this interesting news on https://www.cnbc.com/2023/06/06/news-organizations-ai-disinformation.html

And thats a wrap on this weeks Leeds1888. See you again next week!

Thanks for Reading,

Vipul