Once again, technological advancements will force Hollywood to re-adapt. How might you ask? Have you ever seen/herd of this web site?
In case you don't know, Megavideo is an online website whereby you can stream your favourite television shows, at any time. Due to advancements in the internet, the nature of television consumption is evolving. Viewers of online television now have the freedom to watch what they want, when they want. They don't abide by the traditional daily/weekly viewing times on television, they abide to their own schedule. How many of you have ever watched an episode of anything online? It's convenience is astonishing; no ads, you can pause and rewind at will, and best of all you don't have to wait that extra week to see the next episode.
There are thousands of online providers of television shows, both illegal and legal. Often, websites such as 'megavideo' upload episodes well before they even aires on television.
How will this affect Hollywood you may ask? Think logically here. The success of television programs and movies are primarily based upon ratings and viewings. With higher rating television programs, companies and networks are able to sell advertisement spaces for premium prices. With less and less people watching their favourite shows and movies on the actual 'television', theoretically ratings and profits will drop.
This relates directly to Theodore's myopia theory. Hollywood and large television entertainment producing networks must now readjust, due to the changing nature of the consumer market. Already we are seeing organisations beginning to buy premium online advertisement space. How annoying are those 30 second ad's before youtube videos?
Mr Wagstaff himself has already eluded us to the potential waste of internet advertisement space invested in by some companies. Is this the way forward for the visual entertainment industry? Do they perhaps provide users with online streaming of their own programs, and sell advertisement space? Do they tighten the process whereby episodes are released? Or perhaps strategic advertisement mid program, ie characters wear a particular brand. Whatever the answer, one thing is fore sure. There will be an answer. Hollywood must not be myopic, and must adjust again to the changing consumers, or face a slow and elongated death.
What a load of drivle Scott. Do you have a conscience? You talk of the movie industry as though you are betrodden due to the eventual demise of an old friend. Yet you boast in "astonishment" of the "convenient" content, which is ILLEGAL! By the end i was that sick of hearing the word myopic.
ReplyDeleteJust a few matters of housekeeping: Do you think marketers should make the first move in a bid to advertise more effectively or that Hollywood should make the first move in order to ensure greater profits? Also do you think illegal, and by that i mean free websites should be policed?
Apart from my original concerns, very good blog. Talented. Look forward to more of your rather visionary blogs. Where do you sit in the lectures? We should get together...
Although many of these sites are illegal I defiantly think this is the way forward.. I struggle to think of anyone I know who watches shows during their scheduled time slots (ads and all). Even my grandparents have their lists of shows recorded so they can watch them later, skip pasts the ads and pause shows at their will. I think one of the most obvious ways around this (as you mentioned) is product placement, and we are already seeing this take off. 'Hollywood' needs to adapt to the changing landscape and demands its consumers have and evolve to remain profitable
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