The years of denial are over. Investors have accepted the severe decline of the TV business after years of fighting for it’s survival. After both Disney and ESPN admitted weakness in viewers and investment, Wall Street wiped out more than $50 billion from the big media companies it once so heavily supported.
One thing that cannot be denied is the consistency of decline for major TV companies.
Whether certain companies are faring better than others is yet to be clear, but the industry as a whole is becoming extinct. The rate of decline in such a short period of time combined with the growth of smartphone, tablet, and internet streaming is causing the TV industry to disappear.
Researchers claim TV subscriber growth has been in steady decline for years despite overall numbers. Nearly 100 million people in the United States still pay for TV service monthly. Distinct from both the music and newspaper businesses in numbers alone, the TV industry cannot fend off the internet with old tactics, despite the enormous amount of hours viewers watch each week.
One thing is true. The marketing must change or the industry will continue to drown slowly as it is declining at a rate of .07% per year. Consumers inhale products as fast as the internet can stream it. TV advertisements and expensive monthly ‘bundles’ can’t beat internet streaming websites like Netflix offering favorites like Orange Is The New Black, and every season of Friends at $8.99 a month.
In the eyes of a stream hungry generation, it’s over for the TV guys.