1 big thing: The battle for the future of TV
1 big thing: The battle
for the future of TV
- Why it matters: Billions
of dollars are at stake for whichever company can win the attention of
younger generations, who are abandoning traditional TV in droves.
- The scramble is so
urgent that five new initiatives were announced yesterday within hours of
each other:
By
the numbers: Over 60% of
young adults in the U.S. say the primary way they watch television now is via
streaming services on the internet, according to a Pew Research Center survey.
- Only 31% say they
mostly watch via a cable or satellite subscription.
Be
smart: Traditional TV is not being
replaced by one medium, but by a combination of video services across the
internet, most of which can be separated into two buckets: mobile video and
subscription video on demand (SVOD).
- Mobile video is typically
shot vertically and tends to be shorter in length (usually between
two to 10 minutes), and engages viewers actively, though methods like tap
or swipe scene navigation.
- Subscription video is
filmed horizontally and is meant to be consumed passively on bigger screen
sizes (like TVs or tablets). It's typically longer than just a few
minutes, usually somewhere around 25 minutes per episode.
Quibi (short for "quick bites") was revealed yesterday
at Vanity Fair's New Establishment Summit as the name of the highly-anticipated
mobile video startup by Jeffrey Katzenberg and Meg Whitman.
- AT&T announced
yesterday that it will launch a new direct-to-consumer streaming service
in late 2019, based around HBO programming.
The
takeaway: None of these companies
that are looking to own the future of television are TV networks, and only a
few are telecom companies. Technology companies are mostly the ones looking to
upend the traditional TV landscape.
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