We’ve discussed the general trends in disruption and innovation in the industry as a whole. These posts all point to a disruptive future, where media and television as we know it will continue to change and alter at an unforeseeable rate. There are multiple strategies and points to remember in this industry. So what can we do to make sure we don’t back the wrong horse in this media race?
The first point is Awareness. Disruption is an active trend and will continue to be, because competition drives innovation. As we’ve stated in blog posts passed, blockbuster’s policies created Netflix, Netflix’s successful content drove amazon to do the same, and online streaming encouraged the cord-cutting and cord-free lifestyles. For every action there is an equal and opposite reaction. The ripple effect is coming, the size and the scale of the ripples is the tricky part to nail down. Hope for the best and prepare for the worst.
The second point is Independence. Today we have the convenience of choice in the media world. It is impossible to watch everything and consume all of the created content. So we have to choose between Netflix, Hulu, Amazon Prime, Vudu, and so on. Do not get too attached to one service. Be willing to change to better providers whenever possible. As the media and Tv world That doesn’t mean avoid using just one service, but don’t get dependent on any service or service provider. Always remember that suppliers need consumers and not the other way around. Sometimes there aren’t many options, but, legally, there cannot be a monopoly, so value your choices.
The third point is flexibility, be willing to adapt. This goes hand-in-hand with independence. Always compare your current services to new services. Playing favorites could get you left behind as the current phases give way to disruptive new trends.
The fourth and final point, never settle. Nothing in the media world will ever be the end-all be-all for content, service, and/or features. Disruption creates something new and exciting, so explore every and all possibilities. It used to be said that “as consumers compete, customers win,” so let’s make that true old adage true again.