Here is the possible future of television!

Good morning dear readers of Tecnogalaxy, today we will talk about the future of television.

Decades ago, families gathered around TV at the same time every week to watch a show together. Now, TV is available on the go, streaming on smartphones and tablets so that viewers can watch their favorite shows anytime, anywhere.

The evolution of TV will intensify in the coming years. With new technology and the drive to new forms of entertainment, TV will continue to turn into a personalized experience unlike anything we’ve ever seen.

INCREASED STREAMING AND ON DEMAND

What lays the foundation for any other change in the future of television is the growth of streaming and on-demand services. Customers will no longer wait for their show to air at a certain time, but can instead watch what they want, whenever they want.

The increase in streaming services, including specialized services that stream only content from a network, such as Disney Plus, forces services to compete based on experience and catalog. Today, nearly 300 streaming services are available, focused on everything.

The transition to streaming is the catalyst for many changes. To begin, streaming removes the intermediaries of cinemas or cable system operators and connects customers directly with entertainment companies. Streaming and on-demand allow customers to watch what they want, when they want. The flexibility of programming and the device opens doors to consumers and gives them the power to watch television. Streaming services also tend to be cheaper than traditional cable subscriptions, which is a huge benefit for consumers.

However, the increase in streaming is overwhelming for many consumers, with almost 50% of consumers claiming to be frustrated by the increasing number of subscription services needed to watch the desired content. As more streaming services enter the market and libraries become diluted, consumers will have to subscribe to more services, which can lead to more expense and damage the overall experience.

On average, people subscribe to three paid streaming services, spending an average of 37€ per month. This is a huge leap from just three years ago, when most Americans were only paying for a streaming service, which was almost always Netflix. In the future, expect an increase in both the number of services and the total cost per customer. But as streaming services grow in popularity, they are also playing with fire, as consumers may get exhausted from new services: just ask Quibi, which went out after just six months. One thing is certain that the growth of streaming services is the traditional cable drop. The annual rate of decline in subscribers has recently reached a surprisingly low 5,4%. If the cable hopes to survive, it must renew its offerings to remain competitive.

ORIGINAL CONTENT WITH LIMITED RESTRICTIONS

Streaming wars are heating up and create a battle of offers to get popular content. To avoid battles over popular show rights, many streaming services are now creating their own content. In 2019, Netflix spent about $15 billion, or 85% of its total spend, on original content. Apple TV+ pledged $6 billion in original content before launching its streaming service, and Disney Plus spent $1 billion on original content in 2020.

The original content gives streaming services more control over what’s in their library, allowing them to create niche content and increase minority representation. Most original content is not subject to the same rules as TV broadcast, meaning that the original content of the streaming service is not limited by the language or content guidelines.

But the lack of standards and streaming practices can put companies in compromising positions, such as when a program insults other cultures or is questioned for its content and decency, like when Netflix removes a scene from its original drama 13 Reasons Why portraying teenagers committing suicide after teen suicides increased after the premiere of the show. In the future, streaming services may need to align with common standards to protect themselves and create a more consistent experience for customers. However, streaming standards will probably never be as strict as those required for TV broadcasts.

We are on track for the future of television. With changes in viewers’ preferences and new technologies, driven primarily by the growth of streaming services, TV will soon be almost unrecognizable from what it was just a few decades ago.

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