In the online video and TV industries, disruption is generally portrayed as the inevitable but deplorable state of affairs. Just think about the way various news outlets have reported on Netflix over the years. Stats on how cord-cutting Netflix fans have “stolen” cable subscribers are abundant, as are articles on how young consumers don’t even tune in to TV anymore thanks to the presence of YouTube.
Of course, it’s good to report on these changes, but more often than not, the TV industry is made to look like the victim of the rapidly-growing online video industry. Unfortunately, this kind of squabbling between the two industries won’t help either of them in the long run. Chaos and change aren’t always bad situations. In fact, it’s thanks to all this disruption that both industries have a huge opportunity to learn from each other instead of bemoan how one is destroying the other.
Once you move past the initial chaos occurring in online video and TV, you can see quite a bit of innovation springing up almost everywhere you look. This phenomenon can be seen in all the new tech, products, and services now available, many of which would seem unbelievable or even impossible just a few years ago. Take, for example, all the different types of distribution platforms publishers and brands can choose from, or the increasing demand for better access to faster, convenient internet (like New York City’s free WiFi hotspots). And let’s not forget the massive influx of virtual reality brands and innovations, which are set to change the way we experience entertainment forever. Over time, innovations like these tend to create stronger industries.
Innovations also result in more options for the consumer, which should be the ultimate end goal of both the online video and TV industries anyway. By nature, more choices will provide more competition, but competition also drives innovation (and we already saw above how that’s helped both industries). Instead of fighting these changes, online video and TV should collaborate to make better experiences for the consumer. As an example of how collaboration can benefit both industries, look no further than Amazon Prime. The subscription service not only offers its own original streaming video content, but is also willingly selling subscriptions from traditional cable brands like Starz and Showtime. This obviously provides lots of options for the end user.
When you combine the ideas of innovation and collaboration for a better consumer experience, what you ultimately benefit from with all this disruption is a stronger industry boasting increased revenues. The more choices the consumer has in their digital media and TV experiences, the more likely they are to invest in these and even recommend their favorite products/services to friends. This opportunity to grow financially shouldn’t be ignored. While some of this growth may take longer than expected, it will ultimately contribute to the improvement and success of both the online video and TV industries.
Disruption doesn’t have to mean discord. In fact, there’s an event seeking to prove that very idea. The Internet and Television Expo (INTX), hosted by the National Cable and Telecommunications Association, is dedicated to generating beneficial conversations about the online video and TV spaces. Taking place in Boston from May 16–18, INTX is the place to discuss differences, share insights, and learn from those in a supposedly “competing” industry.
Online video and TV are changing rapidly. However, that doesn’t have to be a scary or controversial situation. If you want to be a part of the conversation on how to shape the future of both industries for the good, make sure you get your ticket to INTX now.