By Nate Berger
Media consumption is constantly at our fingertips. We have multiple devices and platforms to select from, resulting in a shift from the traditional ways we used to consume content. With all of these different options, we find ourselves using multiple devices in order to gain access to all of the content we desire. In an effort to consolidate devices, some products have come to the market, which allow us to access most of our desired content through one platform. This has resulted in competition between different platforms across the content consumption landscape. Currently the largest change in media consumption is occurring in both the television and music industry. These industries have recently undergone a shift from traditional consumption to streaming services.
According to Nielson’s data streaming in both audio and video drastically increased from 2014 to 2015. If the use of streaming services continues to rise, these numbers will skyrocket through 2016. So the main question is how come streaming services have become so popular? The main reason for this is convenience and cost. Consumers are finding that using streaming services for both television and music make more sense than getting this content the traditional way.
Since streaming services have recently exploded in the market, some television cable services have been worried about their future in the industry. This is because streaming services tend to be cheaper than cable, and offer a majority of the content you could receive with your cable contract. As a result, a new cord-cutting trend has begun to develop mostly among the Millennials, where they no longer pay for cable and just use their streaming services. This has been great for companies like Netflix, HBO Go, and Amazon Prime who are leaders in providing television streaming. However it has left the whole television industry wondering where the future of cable and watching live TV are headed.
The music industry has been facing the same changes, where the increase of streaming services has impacted traditional ways of listening to music. Services like Pandora, Spotify, Apple Music, and Tidal have grown in users and provide a variety of music for listeners to stream. This is more appealing for customers because they get more music options for just one fee a month, instead of spending $13.99 on each album they want to listen to. Since these streaming services have been so successful, artists and the industry have been struggling in figuring out where and what is the best way to release their music.
As both of the television and music industry and undergoing these changes, we have seen the development of new devices that cater to the convergence of streaming services. For consumers who are switching from traditional ways to streaming services, devices like Roku or Apple TV are essential. These devices provide streaming services, media players, apps, Internet, and much more. Since the media industry is quickly changing to streaming services, we can see how Roku and Apple TV have provided all of the essential platforms for consumers in just one device.
The way in which your audience consumes content is changing, rapidly. To reach those audiences, brands are realizing the importance of moving outside the traditional media comfort zone. Adopting new technologies and new platforms like Apple TV is a must.
KnockMedia is part of a small group of exclusive app builders that are creating the next generation of online experiences that will redefine how content is consumed. To learn more about our approach with Apple TV click here.