All companies and industries face difficult or life-threatening challenges at one point or another, and it is their adaptability and ability to make smart strategic moves which allow them to prosper even in the face of adversity. But companies and industries that fail entirely to innovate risk becoming a Lava Casualty.
I once shared a list of 12 items that became obsolete in the past decade. And with a plethora of new and different ways to consume content, a recent article points out that next on that horizon could potentially be the passing of the TV itself.
According to this infographic from AccreditedOnlineColleges.com, one-third of Americans watch videos online every day, accounting for an average of 28.3 hours a month of viewing on the Web. More than 80 percent of 18 to 29 year olds said they watch some, most, or all of their shows online, while 29 percent said they don’t think they need to own a TV at all.
Considering it took traditional television 80 years to reach an average of 290 million American viewers, while online streaming took less than a decade to hit about 125 million, could TV as we know it be kaput?
[Image via Ferdy Christant.]