With the rising cost of cable services and satellite bills many people are considering making the switch to internet TV completely. In the current economic climate cutting out any and all extraneous costs is the norm. When faced with the decision between health insurance for your children or having HBO it’s a no brainer. Internet TV now stands to make huge strides in the coming years. With the rise in popularity of web based programming like Netflix and Hulu, you begin to understand how internet programming is really becoming quite the headache for entertainment CEO’s like Director, Viacom, Inc. Below are some ideas for how entertainment companies could still remain a player in the face of this ever changing game field.
- Leave Cable Companies Behind- While this seems like a drastic measure. Many large entertainment corporations have the resources and clout available to easily go it their own way and launch stand alone services on the internet. Pairing with large technology companies like Google or Apple could also be a viable alternative.
- Mobile Platforms For The Win- In the coming years more people will get their news and entertainment from mobile platforms than any other device or format combined. With the rise of smart phones and Ipads corporations must be looking to the horizon and thinking about how they can stream live content straight to where the consumers will ingest it the most.
- Put Resources into Internet TV Technologies- Many companies tend to stay in their particular niche. Entertainment companies have a unique position in that their niche covers a huge array of other fields. If companies were to invest money into internet TV technologies the cost benefit could be huge. While marketing their own programming and technology they would effectively corner the market on their competitors.
- Get on Board With Google Fiber- Google Fiber is coming and coming fast. With super powered internet speeds people are going to be absorbing content at a frenzied pace. This could single handedly be the demise of TV as a platform. Any company looking to make money should be putting some forethought into any internet technologies that will take use of this increased bandwidth. Entertainment companies have to be looking at this to stay viable.
- Pay Attention to Online TV Sites- Sites like ORA.tv and many others will be the go to places for TV program consumption. Big name celebrities are now bankrolling some of these TV sites. How these sites fare will really be the telling sign of whether or not TV will make a complete switch over to the internet.
These of course are just suggestions, but there are some data points that definitely need to be looked into and at. If entertainment companies continue to back pedal when it comes to internet TV technology they may find themselves in a situation like newspapers did a decade ago, scrambling to remain alive in a world that has moved on.