Media organisations are under pressure to reinvent from all angles — investors, competition, customers, and technology.
In a recently published report in the Business Daily on how Facebook is making a foray into video content — a development bound to dent the traditional TV platform — it became clear that media organisations are under pressure to reinvent from all angles — investors, competition, customers, and technology.
Rather than rethinking what’s possible and transforming industries, we consistently use new technologies to embellish what we’ve done before.
We’ve seen this many times with new media. The first morning radio shows report newspaper headlines, the first morning TV shows were teleplays with cameras pointed at the readers, even websites today mostly replicate the digital paper.
Right now a tectonic shift from broadcast to streamed TV is upon us, and sometimes it feels like everyone is missing the point.
People in an industry tend to see things rather differently from people outside of it and that is perhaps why Facebook is taking the lead in innovation around video viewership.
Even in my role and background in the media I’ve no idea when I’m watching streamed or broadcast TV, I never know if it’s locally stored or on demand. Yet our industry thrives on terms like VOD, Linear TV, Traditional TV.
Its said that we’re watching less TV and more video.
Media organisations need to make a decisive shift so as to succeed. In an era which customers are demanding, intense competition, and expanding, and investors punishing those without a digital strategy.
To compete and thrive in the face of disruption, media organisations need to embrace digital reinvention.
Companies have embarked on a digital transformation to offer more individualised experiences.
A new breed of media company can now spot and respond to the favoured consumer consumption method — everything-on-demand, on any device.
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