Television isn’t going anywhere. But the traditional definition of “television” is certainly undergoing a profound evolution.
Driven by the TV Everywhere movement, the number of TV-addressable screens grew to 5.1 billion by the end of 2013, according to Strategy Analytics. And that number is projected to balloon to 7 billion by 2017, a notable increase of 37 percent.
“TV’s impending death has been overstated by some commentators. The reality is that, while the television industry is changing and will look different in the future, it is very much alive,” explains David Watkins of Strategy Analytics. “TV screens are multiplying rapidly through widespread adoption of mobile devices like tablets and smartphones, and consumers consider these screens as alternatives or supplements to traditional big TV screens.”
Thanks to technology, the conventional concept of what we know to be television is changing right before our eyes. But with providers like Hulu, Netflix and Amazon delivering over-the-top (OTT) content—and much of which is being streamed on mobile devices—the demand for strong content is arguably higher than ever. These days, connectivity abounds. And people are increasingly expecting to be able to access whatever content they’d like precisely when they want.
What does all this mean? With the number of TV-addressable screens on pace to eventually overtake the amount of people on the planet, the TV Everywhere market is likely to continue to grow, giving OTT providers the opportunity to take a big slice of the pie that’s still in its stages of infancy.
Television is not dying, it’s simply evolving. Viewers want access to strong content. They are just now aware that they don’t have to be settled in on their couch in order to watch their favorite shows.