While TV is considered a traditional media platform, digital video isn’t necessarily here to replace it. More and more online video streaming/media companies are finding the need to collaborative with networks now more than ever.
Traditional media is recognizing that their audiences are quick to move on – especially when they don’t. When you think about it, networks aren’t given a chance to plateau if they want to keep viewership. What better way to stay current than working with evolving digital platforms?
We are in the age where our digital presence has taken over. Our generations flock to clickbait articles, listicles, quizzes, and sizable GIFs. We aren’t even visiting gossip sites as much anymore. We spend most of our time gathering information from Twitter, Facebook, and Tumblr. A few of us are even there to watch stories unfold live on social media.
Based on all of this, it makes sense that networks who are behind on current trends would want to stay relevant. But instead of attempting to compete by following the ways of the digital world, they’ve come up with an even better solution: acquiring the fire.
According to Adweek, big media moguls are purchasing digital companies to help expand their audiences. Last year, Disney invested a whopping $400 million into VICE Media. NBCU spent $200 million on BuzzFeed and another $200 million into Vox Media, and Turner put $15 million in the tech site Mashable.
What does this acquisition mean?
Well, for one, digital mediums have turned their attention to TV advertising. Content that goes viral has the potential for being seen by millions on their screens. There is a general belief that pulling out from TV programming budgets and investing into digital streaming services can increase the overall visibility of the content.
When you think about it, it’s a brilliant way to ensure the survival of the medium. It’s also a simultaneous win for bringing millennials – or at least their interests – over to the dark side.
Another benefit is visibility for original, progressive content. While it’s still unclear about the stipulations for broadcast regulations, it’s a step forward for progressive television.
Consider the relationship between digital global media outlet VICE in collaboration with HBO. VICE, a media outlet known for its ode to a non-traditional approach to world events, recently teamed up with HBO. Now, VICE is free to expand its content on a linear medium.
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