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A key turning point in the Internet TV and TV industry?
Television has long been one of the most significant innovations of the 20th century, symbolizing the globalization and spread of modern culture. The United Nations officially designated November 21 as "World Television Day" to celebrate its impact on society. Today, television is far more than just a simple device for watching videos—it has evolved into a multifaceted entertainment hub. With the integration of the internet, TV has undergone a major transformation, reshaping market structures and introducing new challenges and opportunities for the industry.
This shift aligns with the current trends in media consumption. Recent reports indicate that many second- and third-tier TV stations are facing declining viewership, with some even reporting zero audience ratings. While the accuracy of these claims is still under scrutiny, it’s clear that traditional TV stations have struggled in recent years. For example, in the first half of 2017, TV advertising revenue dropped by approximately 4%, and over 80% of TV programs saw a decline of more than 10% in ratings. More than two-thirds of these had ratings below 0.5, signaling a serious challenge for the sector.
The difficulties faced by traditional TV are reflective of broader issues in the industry as it transitions into the digital age. The rise of smart TVs and internet-based television has significantly reduced the market share of conventional models. In 2011, traditional TVs made up around 90% of total sales, but by January to May 2017, this number had plummeted to just 13%. This dramatic shift shows how quickly consumer preferences are changing.
In the U.S., the number of Internet TV users has already surpassed those using traditional cable services. Internet TV, which runs on smart devices, has become one of the most transformative developments in the industry. Smart TVs with open platforms and operating systems are now the standard, driven by the growing popularity of smart devices. This trend has laid a strong foundation for the expansion of Internet TV.
Traditional TVs, with their limited interactivity, have lost appeal as more people turn to online content. However, with the advancement of smart TV technology, users can now choose what they want to watch more freely, bringing back habits associated with the internet to the television experience. According to recent data, there are now 20 Internet TV brands in the market, matching the number of traditional ones. Internet TV leverages broadband networks and combines internet, multimedia, and communication technologies to offer interactive services that are highly valued by consumers.
Understanding user behavior is key to success in this space. Surveys show that young people and the elderly are the primary users at home, with young adults making most of the purchasing decisions—67.2% of all buyers. As a result, young people are now the main target for Internet TV marketing efforts. Users don’t demand high-quality content as much as they value brand reputation and overall experience.
Internet TV users tend to watch similar types of content, mainly domestic or international movies and TV series. Despite this, the majority of users are open to trying Internet TV. Nearly 80% of regular TV users plan to switch, and over 90% of those using traditional TVs and set-top boxes are considering a move to Internet TV. In the future, Internet TV is likely to replace set-top boxes and become the preferred choice for accessing online content.
However, the Internet TV industry has also faced its challenges. After a period of rapid growth from 2013 to 2015, the sector entered a turning point. Issues such as price competition, brand crises, and a lack of differentiation have raised concerns about its long-term sustainability. Additionally, rising panel costs and lower-than-expected user growth are putting pressure on companies involved in the industry.
Meanwhile, the traditional TV sector, with its established supply chain, is not standing still. The convergence of Internet TV and traditional broadcasting, along with the combination of content, service, and hardware development, is becoming the next big trend. As both sides evolve, the future of television looks increasingly integrated and dynamic.