Today's media empires were built through constant reinvention, reinvestment and risk taking. If Big Media wants to thrive in the digital era, it needs to remember its past and move beyond its present. This means reframing priorities, actively pushing audiences online and fully embracing category experimentation. It's not too late, but time is running out.
CBS Corp (CBS.N) CEO Leslie Moonves, who was given the additional title of executive chairman this week, is planning more original content and looking at taking some of his network's shows off the air and putting them exclusively on its subscription-based CBS All Access service, to compete with the growing popularity of Netflix Inc (NFLX.O) and Hulu.
The traditional television network business was straightforward: get carriage, grow eyeballs, and sell ads. Online will work very differently. Here, we explain the four models of video providers in the digital era, including what they are, how they work, how to establish one and the risks involved.
Today’s original series aren’t being cancelled because there’s “too much TV” or because they’re not “good enough”. The problem is the industry’s business models and metrics, neither of which have been updated to the on-demand, digital era. Until that changes, it will only get worse.
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