The Future of Television

This week I attended the future of television conference in Hollywood. With fragmented audiences, traditional revenues are flat or in steady decline. In order to compete with new distribution models and new media, traditional media and entertainment companies must change their platforms, either by embracing multiple distrubution platforms or evolving their business model. Advertisers and marketers have been struggling to keep up with changing consumer behavior, and are expected to spend more than 160.8 billion on new media in 2012. That is an 82% increase from 2008's ad spend on new media (USA TODAY, March 26 2008). Concerned, traditional media are trying to figure out ways to monetize on online audiences.

To be honest, big hollywood is close but still missing what their audiences want. If they are going to survive they will have to give audiences quality both in content and experience when and wherever the audience wants.

During panels there was a digital discussion board where questions could be sent in via text messaging. Along with the archaic technology that took questions nearly 5-7 min before appearing on the board, I was extremely frustrated with the blank stares I got from the simple questions posed about new media and their audiences. Instead they launched in depth discussions that danced around the subject but were no where close to being answered. I guess they seemed simple because as part of the audience that no longer watches traditional television, I knew the answers.

I believe the future of television depends on gaining a better perspective of what the audience wants and creating two-way intereactive viewing experiences. Advertisers and marketers will turn away from traditional media in search of narrowcast platforms that have a rifle approach. An audience will no longer be in terms of demographics, but will be profiles with messages specifically targeted to bobby and susy.

Now what kind of platform can do all this... there are several, but I believe IPTV will revive the fortunes of the TV industry as it combines online interactive content with the television experience. Unfortunatly for big hollywood, it will take awhile for them to realize this or even want to embrace the platform.