Just came across this comment on a panel:
“The TV and movie industries have a value chain—grips, actors, screenwriters, etc. What do we do in our industry so it doesn’t get decimated like it has with newspapers or music?” asked Steve Robinson, president of video ad firm Panache.
The TV industry is not tied to a device called "TV" in the same way that the Movie industry was not tied to a cinema or the Music industry was not tied to an LP, cassette, or a CD. The product being consumed by the consumer will not go away by the disruption of the delivery channel or mechanism. This is simply wrong framing of an industry and a lack of understanding of value and competitive dynamics.
The best example is the news industry which for many years was confused with the newspaper industry -> the news industry is more alive than ever - "news" might not be delivered via a physical paper that requires a printing press, delivery trucks, and delivery boys - but the need, the hunger for reading news on a daily basis will only grow. What this means is that the corporations that invested capital in the presses, trucks and to pay delivery boys, (and thus had built huge barriers to entry and in essence created what's called wrongly above "the newspaper" industry) will die, but, the "news" industry that existed before there were printing presses, will also exist afterward.
The "TV Industry" will go along the same lines -> we should start referring to it as the "Video Content Industry" that is composed of professional and less professional creators. Aggregators of content (just like newspapers were) will slowly lose power against the ability of the true content owners to reach their audiences in a more democratic manner. The "TV Industry" will be disrupted in the long-run just like the "Newspaper" industry was.
Having said that, the TV (and its high-quality graphics) distribution channel combined with top-notch streaming video, in my opinion is not only long-ways from dying but, will probably stay forever. Look at cinemas as a distribution outlet for movies -> they provide a totally different product consumption experience no matter where you make those movies available - and people will be willing to pay for that.
Think coffee or dining out -> the fact that you can have Starbucks branded coffee at home doesnt mean that you are not willing to have a different experience by buying it at a store (and significantly overpaying for it).
I am for one somebody who doesnt see himself not willing to pay for a physical newspaper in the future (as i do today, especially for weekends editions) - and I know there would be thousands like me. If the newspaper companies can find a way to satisfy that demand in a sustainable and lean manner they will certainly tap into pockets of sustainable money.
