Forbes: Why Online Video Is The New TV And CMOs Should View It That Way
by Field Garthwaite, co-founder and CEO of IRIS.TV
The media industry is facing its largest sea change since the advent of television. New players have entered the content market, cable is unbundling, advertisers are flocking to digital buys and everyone is scrambling to attract online viewers and keep them engaged. It’s a new, still evolving ecosystem, and if marketers and publishers want to succeed, they need to be ahead of the curve on how they think about, develop and improve their online video offerings.
All of this change isn’t unprecedented. The media landscape today looks a lot like the industry 30 years ago. In 1985 NBC and ABC were both acquired after the emergence of cable shook up the industry. CBS was also nearly acquired by Ted Turner’s formidable Superstation—WTBS. Today instead of acquisitions of large television networks, we’re seeing the acquisition of Multichannel Video Programming Distributors (MPVD) like DirecTV and Time Warner Cable. Over 30 years ago companies like Turner and HBO led the way to a booming cable industry, flipping the television business upside down in the same way Netflix, Amazon, Hulu, and others are doing now. That period brought many predictions of “the death of network television,” that sound exactly like media columns published today.
The “death of network TV” notion was wrong then, and it’s wrong now. Online video isn’t a web technology, it’s the new TV, and marketers should treat it that way. It’s an amazing opportunity, and media companies should stick to what they do best—making great content and programming. To succeed in this changing media landscape here are three things CMOs should keep in mind.
Continue reading at Forbes.com.