Last Valentine’s Day weekend, my husband and I grabbed a couple bottles of wine, gathered a stack of firewood and lit a fire in our fireplace, and snuggled up in front of a 70-inch TV to excitedly watch the release of the second season of House of Cards, the award-winning original series from Netflix.
About 12 hours later, we emerged from our Netflix binge hangover pumped full of red wine and craving to find out what would happen next. It was amazing.
This example is how we, as an always-connected society, are changing our habits and choosing to consume “television.”
As viewers, we want instant gratification and want everything on demand. We want media at the tips of our fingers and available for streaming when it conveniently fits into our own schedules.
If you don’t believe it, let the numbers talk. According to Expandedramlbings.com, the reported 53 million Netflix subscribers consume approximately one billion hours of content. Apparently at least 61 percent of Netflix users appreciate a good Netflix binge and binge-watch shows at least every few weeks.
So, as they always say, if you can’t fit ‘em, join ‘em! So rather than entertainment companies being intimidated by this new viewing behavior, they are figuring out how their offerings can fit the model.
As highlighted in the SAP e-book, How the Entertainment Industry Is Reinventing Itself, there are four ways the entertainment industry is responding:
- Niche content. From very niche show topics and exclusive content for online viewing, companies are understanding that content doesn’t need to be sent to everyone. Instead, it can be distributed to the most relevant audience through the channel that makes most sense. And some of this content can be micro snippets instead of long-form.
- Streaming services that breaks down all those barriers for consumption. Consider how easy it is for content to be delivered using Netflix through a smart TV, mobile device, or a good old-fashioned laptop.
- Viewer involvement. Viewers aren’t just passive watchers – now, they are active participants in creating content and responding to content (think Twitter to TV interactions).
- A new audience. Entertainment has always crossed the borders, but now, content is bringing cultural awareness by focusing on more than just top-level themes (think Slumdog Millionaire).
No matter which way the entertainment industry looks at it, viewing habits/consumption and technology are forcing changes. The industry will survive as it embraces and shifts to meet these changing needs.
This article was syndicated from Business 2 Community: The Netflix World: How The Entertainment Industry Is Embracing Change
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