How Technology and Content Define the Future of Television
Technology is everywhere. Today’s consumers experience it wherever they go, with smart assistants that sit on countertops to wearable devices that monitor heartrates, and so much more.
For the media industry, the changing way Americans experience technology in their lives comes with tremendous opportunity. Gone are the days where a family would only crowd around the living room television. Now, it’s about marrying quality content to cutting edge innovations, and meeting consumers with what they want, wherever they are.
NCTA connected with ViacomCBS to explore the future of television and how content will merge with technology to define the future of an industry. Below are four perspectives from ViacomCBS executives.
Technology Touches Everyone
“There is not industry that is not touched by technology in terms of what they offer or how they offer it,” says Lindsey Turrentine, SVP of Content Strategy for Tech Brands at CBS Interactive. “Understanding what’s coming in technology is essential for anybody who is planning a business and especially a big business and it’s particularly important for media, because media companies and people talking about media—ad buyers and sellers—really need to understand the potential each for their products and services and where they could meet new audiences. They get excited about new places to interact with audiences.”
It’s Not About ‘TV’, It’s About Content
“The future of ‘TV’ is already in the rearview mirror. Our kids don’t call it ‘TV’ anymore, it’s just content that they watch where and when they desire at any given moment,” says Samantha Cooper, EVP of Partnerships, Distribution and Business Development, ViacomCBS. “This trend will continue as new technologies make possible a wide variety of viewing experiences that cater to increasingly mobile lifestyles… Short-form [content] has a purpose for filling gaps during life’s interstitial moments, however, I believe long-form episodes will still be the preferred format.”
Change Drives Competition and Innovation
“How consumers choose to watch their content will continue to fragment, in part due to the proliferation of new streaming services in the market,” says Ray Hopkins, President, U.S. Networks Distribution, ViacomCBS. “Exclusively windowed premium content (live and on-demand) remains the linchpin of the cable ‘bundle’ and as long as the various media/network groups remain disciplined in their approach to the old and new worlds, I believe there will be a fairly robust traditional cable TV model moving forward.”
The Streaming Opportunity
“Viewers are watching more video than ever and I do think there’s a huge opportunity for further growth in streaming services. This will come both from subscription products, where viewers tell us they are willing to increase their spend, and also in the ad-supported space,” says John Curbishley, EVP, Strategic Planning, ViacomCBS. "I don’t think there will be a single 'winner' that emerges, but rather a series of products to meet the needs of different audiences and at different price points—including free.”
New technologies are certainly boosting innovation and furthering a TV revolution that spans both what and how consumers watch. Both NCTA and ViacomCBS will continue to monitor these trends. You can learn more from ViacomCBS by visiting their newsroom.