Why television is the next industry ripe for disruption
The internet will eventually disrupt all existing industries. Think about the ones it has already fundamentally changed forever: music, software, retail, travel and your phone. What’s next? Television.
Consider the following:
- The average American still watches over five hours of tv a day.
- The cost of producing professional looking content has plummeted (my phone shoots HD video).
- Companies like Netflix are going around traditional content providers (cable industry) and producing original content on their own.
- Kids ages 12 to 17 spend one third of their time online watching video.
- Online video advertising spending has doubled in the past two years and estimates say it will increase by 33% this year.
- 1.3 Billion Videos are watched every day.
- The entire tv viewing experience is archaic and frustrating for the user (commercials, programs in time slots).
- Yet, over 90% of American households still pay for tv, because there is no serious alternatives (yet).
And now there is this Washington Post story about Steve Jobs talking on the subject. Television is definitely the next big industry to be disrupted by the internet. It can’t come soon enough.