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- 1. The Death Of Traditional Television: How The Internet Has Taken Over
- 2. Widespread internet access has lead to internet television and streaming slowly taking over the traditional television market.
- 3. The explosion of brands such as Netflix and YouTube has lead to a movement known as “cable cutting” which consists of abandoning traditional television altogether.
- 4. For Just $11.99/month, Netflix offers customers unlimited commercial free streaming using any device with internet access. Traditional cable costs at least $25 per month.
- 5. Netflix uses advanced algorithms to track what you watch, skip and rate in order to suggest other titles you are likely to enjoy without limiting you from the other unrelated content.
- 6. And its working. Forbes Reported Netflix to be worth $41.1 Billion in 2016.
- 7. It doesn’t stop there either. Netflix continues to purchase the rights to TV shows and movies for streaming, and plans to release 20 shows of its own in 2017.
- 8. Companies like YouTube allow user created content to be shared with millions of people at the click of a button.
- 9. YouTube has over one billion registered users – accounting for almost 33% of all people on the internet. YouTube is viewed by 18-49 year olds more than any cable net worth in the United States
- 10. Top YouTube star Felix “PewDiePie” Kjellberg has made an estimated $155 million since starting his channel in 2010. He is estimated to be worth $90 million in total today.
- 11. This makes Felix the 17th highest paid TV personality of all time, ranking higher than household names such as Alex Trebek and Kim Kardashian This makes Felix the 17th highest paid TV personality of all time, ranking higher than household names such as Alex Trebek and Kim Kardashian
- 12. The growth of these two major companies has been felt by traditional television. Over the past 5 years, there has been a 37.6% decrease in television viewing time for people aged 12-17, and a 27.7% decrease for people aged 25-34.
- 13. For the first time ever, the amount of people subscribed to major TV providers is about to drop below 40 million.
- 14. With this change, advertisers have needed to adapt in major ways.
- 15. YouTube only allows for 30 second commercials to play occasionally at the beginning of videos. With adblocking software becoming more popular, and a decrease in overall attention span, a 2 minute commercial break simply doesn’t cut it anymore.
- 16. With constant stimulus from mobile phones to distract us, humans aren’t able to focus as well on commercials over a two minute break. A study by Microsoft found that the average attention span for a human has dropped to 8 seconds, which is a second less than the attention span of a goldfish.
- 17. YouTube’s 30 second ads have been cashing in on our short attention span. YouTube grossed over $10 billion in 2016, and is on track to gross over $27 billion by 2020.
- 18. Traditional television providers need to adapt quickly. As internet television continues to increase in popularity – it gains more market power. Analysts simply don’t know if traditional television can survive this internet revolution.
- 19. Netflix’s chief product officer predicts that by the year 2025, internet television will have completely taken over. He predicts that television will be virtually commercial free and provide access to 48 million channels Netflix’s chief product officer predicts that by the year 2025, internet television will have completely taken over. He predicts that television will be virtually commercial free and provide access to 48 million channels
- 20. Though impossible to see the future, its clear that if traditional TV doesn’t quickly adapt to compete with the modern market, we’re most likely watching its series finale. Though impossible to see the future, its clear that if traditional TV doesn’t quickly adapt to compete with the modern market, we’re most likely watching its series finale.
- 21. References "Analyst: Youtube Estimated To Have Revenues Of $27.4 Billion In 2020". Tubefilter. N.p., 2017. Web. 8 Mar. 2017. Borreli, Lizette. "Why A Goldfish Probably Has A Better Attention Span Than You". Medical Daily. N.p., 2017. Web. 8 Mar. 2017. Edwards, Jim. "TV Is Dying, And Here Are The Stats That Prove It". Business Insider. N.p., 2017. Web. 8 Mar. 2017. "Forbes Welcome". Forbes.com. N.p., 2017. Web. 8 Mar. 2017. "Forbes Welcome". Forbes.com. N.p., 2017. Web. 8 Mar. 2017. Krashinsky, Susan. "Shibboleth Authentication Request". Go.galegroup.com.proxy.queensu.ca. N.p., 2017. Web. 8 Mar. 2017. Lapowsky, Issie. "What Television Will Look Like In 2025, According To Netflix". WIRED. N.p., 2017. Web. 8 Mar. 2017. Mail, The. "Four Ways Canadians Are Consuming Media Differently". The Globe and Mail. N.p., 2017. Web. 8 Mar. 2017. "Statistics - Youtube". Youtube.com. N.p., 2017. Web. 8 Mar. 2017. "Televisions Scariest Generation: Cord Cutters And Cord Nevers". 4 (2017): 95-123. Print. "The Digital Media Industry Needs To React To Ad Blockers … Or Else". Columbia Journalism Review. N.p., 2017. Web. 8 Mar. 2017. "The State Of Traditional TV: Updated With Q3 2016 Data". MarketingCharts. N.p., 2017. Web. 8 Mar. 2017. "Top 100 Richest TV Personalities - Therichest". Therichest.com. N.p., 2017. Web. 8 Mar. 2017. WIRED, The. "The Science Behind The Netflix Algorithms That Decide What You’Ll Watch Next". WIRED. N.p., 2017. Web. 8 Mar. 2017. Note: Bolded references are from course content