What Will Video Consumption Look Like in the Next Decade?
By Dave Perkins
We have seen incredible changes in video consumption over the past couple of years. Many factors have contributed to this, most notably the Covid-19 Pandemic. Beginning April 2020, overall television viewing increased as we were advised to stay home, which resulted in changed lifestyles and updated TV viewing habits. This now makes one think…..if we have seen so much change over the past few years, what will the landscape look like by 2030?
Streaming platforms continue to be the biggest drivers of video consumption. According to a study by Deloitte Germany, streaming services are no longer just platforms for the consumption of movies and TV programs. They are now investing in the production and licensing of globally successful content. Broadcasters and media companies are launching their own streaming channels, adding inventory, and driving rates and access challenges in markets across the country.
Which leads us to the future of traditional TV and video. How are broadcasters competing with powerful streaming services like Netflix, Amazon, Apple, and Google? Will the development of their own streaming services be enough to sustain their existence? Broadcasters are recognizing their strengths and making changes to adapt, re-develop, and re-invent themselves. Understanding the landscape of video platforms and the desires of audiences across generations will dictate broadcasters’ survival into the next generation.
What will keep broadcasters afloat?
- Adapting to Video On Demand (VOD) formats
- Digitalization of production processes and distribution of content
- Adapting commercials to new video formats and working to further personalize content delivery
Video continues to be “King of Media”. Streaming services are actively enhancing the viewer experience and continuously expanding content, with an eye toward live stream television programming. Broadcasters still own assets valuable to viewers. With innovation and forward-thinking approach to live programming, commercial delivery, and local news, the two mediums will continue to weave together a robust and entertaining mix of platforms to delight and surprise TV viewers of all ages.