TV business heavily funded: why the "TV wind" turns

Reed Hastings, founder and CEO of U.S. online video site giant Netflix, predicted that within 20 years, all TVs will be transferred to the Internet and television will cease to exist.
"Let's wait and see. After 20 years, TV does not exist."
Reed Hastings, founder and CEO of U.S. online video site giant Netflix, predicted: “In 20 years, all TVs will be transferred to the Internet, and traditional TV networks will die out just like fixed phones.”
This is indeed the case. The vigorous Internet TV is constantly challenging the legitimacy of traditional television. In the United States, Internet giants such as Amazon, Apple, and Google, as well as streaming media service providers such as YouTube and Netflix, have made great strides in the terrestrial network television field. An Internet TV battle has been surging.
In this issue, the media-savvy group sorts out the trend of Internet TV in the United States and tries to answer the following questions:
Why is the traditional TV platform forced to transform?
Why are resources and capital flocking to Internet TV at the same time?
Is this "new TV style" in the United States a lonely or global trend?
Born to the Web: American TV Circles Reshape the Jungle Rules
The U.S. television broadcasting platform can be described as a “tropical jungle” that is dazzling. However, it can be roughly divided into three categories: First, free wireless TV programs, the most representative of the three old television networks ABC, NBC and CBS, mainly rely on advertising to maintain revenue; Second, paid cable TV programs, USA, * * TV stations such as FX and AMC rely on the mode of "family subscription + commercial insert + episode DVD sales". HBO, showtime, starz and other television networks mainly rely on subscription revenue; third, Netflix, Amazon, Sling TV represent Internet TV, they broke the bundled mode of cable TV. With its high cost performance, better quality and flexible content, it took a large number of TV aborigines and eroded the market share of traditional TV platforms, especially for young audiences. The stickiness of the Internet TV platform has become increasingly prominent.
According to data research firm Statista Research, in January 2016, 43% of US pay-TV service subscribers subscribed to Netflix for 18-36-year-old users; at the same time, the older users subscribed to cable TV services. The more you see, the trend of the ageing trend of the cable TV viewing audience.
The DTVR (Digital Television Research Institute) had predicted that by 2020, the U.S. television payment service will have a loss of nearly US$7.86 billion.
Cakes are constantly being taken away; traditional cable pay TV parties are also aware that the jungle rules are being reshaped. If they are not to be killed by the young male lions, the “Tigers” must learn to seize new sites.
This is HBO, the US cable television network company, who cooperated with Apple to launch HBO Now Online Streaming Media in line with the concept of "HBO production, must be quality", rights to create games, jailbreak and other big wave high score movies and television works. The broadcast platform, which pays $14.99 a month, will be able to watch all the TV dramas, movies and documentaries produced by HBO.
In February 2015, satellite network operator Dish Networks launched an independent Sling TV service, which can provide TV, mobile, and PC terminals for users through applications such as Android and iPhone.
The package fee for this service is US$20/month, which includes live streaming content from 19 channels including **, ESPN and CNN. Subscribers can also pay an extra US$5 per month to order additional channels such as HBO.
In addition, AMC, FX, and Showtime also launched network viewing platforms and various App terminals. Sony also launched PlayStation Vue, an Internet TV with at least 60 channels.
However, in addition to the transformation and remaking of traditional television power, it is the new giants that have actually stirred up the television industry.
Prominent emergence: industry leaders in the incoming network TV In the past year, technology giants such as Amazon, Apple, Google and YouTube all entered the video market, further squeezing the market share of traditional TV platforms.
Amazon: Making TV with E-Commerce At the 2017 Academy Awards, Amazon Studios rushed to three smash hits. Each trophy shows the ambition of the Amazon commercial consortium to enter the online video business.
Recall that in 1995, Amazon was still selling DVDs. Later, by relying on hardware devices such as set-top boxes, they gradually tried to find a way out. When the time was ripe, they started to turn around and started streaming media site Prime Video in 2008. The copyright of the broadcast of the film and television; in 2010, Amazon Studios was established to force the production of the original film and television content.
In the blink of an eye for more than 20 years, Amazon's attempt in the video field has been a success. In 2014, Fire TV launched a firm foothold in the set-top box market, and the content originality level was also approved by the Academy.
Unlike the television industry, which is profitable by "subscription + advertising," Amazon, which has its own e-commerce gene, presents another possibility of a business model. In 2011, it launched Prime Instant Video, packaged the original drama in the $99 Prime Instant Video (member instant video service), and attracted a large number of free movies and TV dramas to attract users to apply for membership. “All members have done it, always want to buy it. "That's something," and it also follows Amazon's ultimate goal of "sell more goods again."
Dave Limp, vice president of Kindle, further explained Amazon’s business logic. “Once we have Fire TV, people will buy content, movies and TV shows, and Prime services on demand. We prefer to make money when consumers use products, not When buying."
Apple: Up-to-Date The former Apple chief Steve Jobs disclosed to his biographer Walter Isaacson TV's development plan: He wanted to establish a more benign TV system and eventually break the traditional TV user interface.
In 2013, Apple’s current CEO, Cook, also said that TV is Apple’s area of ​​interest. In this regard, the company has long-term plans.
Even though Apple's two generations of chiefs are ideologically enough to focus on the TV field, the actual situation is not entirely satisfactory. After eight consecutive years from 2007 to 2015, Apple has launched four generations of Apple TV set-top boxes. There is no new move, and the legendary TV sets have not seen progress.
Compared to TV TV products such as Fire TV, Roku, and Chromecast, Apple TV, which is not as good as it is expensive, is not as popular as the iPhone it launched. Some analysts once said, “Unless Apple makes more innovations on Apple TV, it may lose the 'living room' position.”
Over the past few years, I see the iphone launch one after another, when we almost forgot Apple's ambitions on TV, into 2017, Apple began to frequently zoom in. From Amazon, former chief executive of Fire Fire Department of Amazon Timothy D. Twerdahl was appointed as vice president to plan the release of the fifth generation of Apple TV. According to the Wall Street Journal, Apple is about to enter the drama production business. Some Apple executives told Hollywood that Apple plans to In addition to launching its own original TV series at the end of the year, Apple also plans to sell three premium TV channels to subscribers in a bundled channel package.
Hopefully Apple's TV layout will no longer be a "wolf" game.
YouTube: What Challenges to Face from Video to TV YouTube was once considered free of charge by Google on the whole web; in February this year, YouTube announced TV live streaming and on-demand streaming service called “YouTube TV”. .
Andrew Jeon, Chief Engineer of YouTube TV, said: “The membership fee for YouTube TV is only US$35 per month and less than half the cable TV price. Users can cancel the subscription at any time without signing a contract.”
In addition, this service allows users to view the contents of more than 40 TV channels such as ABC, Fox, CBS, NBC, Disney, and ESPN through the mobile phone app, support the playback through Chromecast to TV, and simultaneously on 3 devices. Watch.
The news of Google's access to live TV content seemed a bit sudden, but Neal Mohan, YouTube’s chief product officer, disclosed that Google had been preparing secrets for YouTube TV for more than two years. Going further, Youtube TV can be regarded as a product that Google has planned for 7 years: As early as 2010, Google released the first generation of Google TV. At that time, Google's purpose was to “let users cut off the cable TV. , to watch any TV program they want to watch." At the time, this product was flat and did not receive much attention.
YouTube CEO Susan Wojcicki said, "YouTube TV is a flagship young product that uses more flexible means to provide content that interests them." It seems that the migration of young users from YouTube to Youtube TV is a natural process.
Netflix: Continue to invest heavily to build more house of cards
In 2017, Netflix is ​​also destined to be a quiet year. It announced that it will invest US$6 billion to create original content, compared to US$4.9 billion in 2015. This compares to Amazon’s 2017 original content investment. The scale is 4.5 billion US dollars.
Why do you invest so heavily? The competition of Internet TV business is really cruel. Netflix needs to build more house of cards in order to maintain its advantage. So far, Netflix has the highest market share. The latest statistics released by comScore, a market research organization, in April showed that among OTT subscribers, the proportion of users who choose Netflix service is up to 75%; Zacks investment agency data is also realistic, Netflix 2016 The number of members has exceeded 80 million.
Why does Netflix take advantage of Internet TV users? In addition to quality original content and comprehensive content services, Netflix's textbook methodology can indeed write a book. For example, there is no advertisement, “Binge Watching” is a great user experience, or the use of big data accurately predicts the preferences of netizens and creates explosions. Netflix’s executives have already made a decision as early as the house of cards. "This drama must be fired."
Why is the "TV wind" blowing across the ocean?
Today, the functions of transmitting information, providing entertainment, and resolving solitude on television itself are constantly being replaced by more interesting and fresh things. In the past, the scene in which a family waited to pursue a drama in the living room seemed to be becoming rarer and rarer; The “new TV style” blew up on the other side of the ocean, in addition to regaining the pleasure of the living room, it is also providing users with entertainment services in new ways.
Broad profitability Imagine someone wondering what motivates so many Internet giants to enter the TV industry. Profitability imagination is of course the most important reason. For Netflix, Netflix had revenue of $8.83 billion in 2016 and net profit of $187 million in 2016 (net profit in 2014 reached over $267 million). Unlike general video sites or cable TV, Netflix profits are concentrated on subscribers' subscriptions. Youtube CEO Susan Wojcicki also pointed out that for the development of television business: “The company does not worry about whether it is profitable in the short term. For new products entering the market, we usually focus on: Are we solving practical problems? Is this something we care about? If we Successful, can change?"
In addition, advertising is certainly a major source of income for Internet TV. However, the future advertising business will appear in a brand-new appearance, just as Wojcicki said, “The advertising-supported TV industry is one of the largest industries in the world. We have found that there are many aspects of experience that can be better: search, recommendation, Cloud storage. For Google, an advertising-based Internet company, this is a good investment." In her view, today's television advertising business is not humanized enough, and in the future Internet TV will provide advertisers with more quantified and accurate advertising services.
In addition, the international market, which is expanding at a high speed, also brings new profit momentum to the Internet TV business. According to the January 2017 report, Netflix added 7.05 million subscribers in the fourth quarter of 2016 (3.59 million subscribers in the third quarter), of which 1.93 million subscribers were new subscribers in the United States and 5.12 million were new subscribers. For the United States, which has a population of 300 million, 50 million local users have approached the saturation point of the domestic market, but the growth of the international market is still huge.
Of course, Apple, Amazon and other companies are also making profits through the manufacture of Apple TV, Fire TV and other hardware products.
Creating a new living room entertainment ecosystem Apple, whether it is optimistic about smart home life, or Amazon has a "full coverage from A to Z" ambition, to enter the video field, to seize the user's living room or an important part of its strategic layout.
For example, Apple hopes to integrate more TV services and corresponding consumers into its own ecosystem. For this reason, Apple continues to strengthen its product service research and development and is also creating homemade content. More Internet giants believe that developing TV business is a matter of course based on existing businesses. Just as Neal Mohan, YouTube’s chief product officer, said: “We have been discussing the integration of the best TV content and the best YouTube content. Concept, we hope to become the master of all video content." Wojcicki said: "These two different media have been developing on different parallel paths. They are getting closer and closer. This will be the ultimate integration."
More imaginations are also focused on the "living room economy." When people are recalled by smart TV services, there should be more room for imagination: for example, combined with education, games, shopping, and more, and virtual New technologies such as reality, augmented reality, and artificial intelligence achieve resonance. For example, Google and Amazon have introduced smart speaker products for the layout of the living room economy; the future of television will also be AI technology to further expand the application of the carrier, and continue to extend the intelligent, interconnected, and ecological core.
However, risks and challenges are the same. Of course, the Internet TV business is still in an ascendant period. There are still many problems ahead. For example, sustainable production of high-quality content and high video copyright fees are important factors that affect the rapid rise and profitability. Today, platforms such as Sling TV and Play Station Vue are offering users some of the entire TV channels through the Internet at a lower price than traditional cable TV packages, but as Dan Rayburn, an analyst at consulting company Frost Sullivan, said: "No one is making money," "These services are priced too low to support the purchase of high-end programs from online companies." He stressed: "I don't think this is a successful business model. Without the backing of the parent company, these services cannot be supported."
Recently, Netflix also revealed that it will introduce the sci-fi action movie starring Will Smith, and pay a $90 million copyright fee for this, and the movie production cost is 45 million US dollars.
In addition to the fact that Internet TV is a track that requires continuous transmission of money, the clarity of the profit model, the establishment of barriers for competitors, and the sales rate of smart hardware are all challenges facing Internet TV players.
However, no matter how many thorns ahead, the vanguard unit has already set off, and will use smart technology and a new business model as a spear to reach the other side of the user.

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