Yeah, TV Executives Are Terrified of Streaming Video
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The above quote comes from Anne Sweeney, president of the Disney-ABC Television Group, whose daughter insisted her dorm room did not need a TV thanks to Hulu and other streaming sites. It’s the sound of panic setting in.
And she has good reason to be scared that an entire generation doesn’t find a television to be an essential household item. People are flocking to the web to watch streaming shows, but the networks still aren’t making any money off these views. Hulu, the largest streaming site, is getting over 40 million visitors a month who are viewing 5 billion minutes of shows and clips. And that number is only going up, while TV viewership is going down.
These content creators need to figure out a way to monetize this phenomenon, and fast. Because the genie is out of the bottle, and there’s no putting him back in. [NY Times]
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