There’s Netflix. There’s Amazon Prime. There’s Hulu. These video streaming networks are getting more and more popular. As video streaming takes over, could it take over TV’s 65 year luster?
In the second half of 2014 alone, traditional TV decreased 10 percent. In that same time, Netflix alone has grown to 40 million paid subscribers, and this streaming service is in over a third of all households nationwide. Thirteen percent of households have Amazon Prime. Hulu Plus comes in third with around 7 percent. Television producers and executives are concerned traditional TV will take a huge loss because of streaming. But should they be concerned? Reports say households with streaming services spend way more time in front of a screen then those who don’t. Streaming households spend 48 more minutes a day on TV, but that includes gaming, multimedia and DVDs and Blu Rays. One analyst says people are still watching TV. Just because someone has Hulu or Netflix doesn’t mean it’s time to throw the TV out the window.
I agree with that analyst’s assessment. I don’t think TV producers, executives, TV stars, or anybody else have anything to worry about…that is…those who can adapt to change. Video streaming can be a huge ally of TV. Say you miss your favorite show. You can watch it through streaming. Or say you just jumped on the bandwagon of a certain show, but it’s already five years old. Thanks to video streaming, you can watch older seasons to catch up on what you’ve been missing. Some like to call it binge watching. You couldn’t do that 10 years ago, unless you were fortunate enough to get every season on a DVD or VHS. And don’t worry about sponsorship. If consumers will buy from TV commercials, consumers will buy from streaming ads. Some TV leaders worry about the success of exclusive Netflix shows like Orange is the New Black, and that success will cause other pilots to skip TV altogether and go to video streaming. In that case, do they have reason to worry?