Social media such as Netflix, Inc. (NASDAQ:NFLX) and Facebook Inc (NASDAQ:FB) have gained popularity in the current generation as compared to the regular broadcasting TV. People want entertainment on the go. Companies like Netflix, Inc. (NASDAQ:NFLX) and Facebook Inc (NASDAQ:FB) provide exactly what the consumers need.
There has been a lot of competition for broadcasters from social media such as Facebook Inc (NASDAQ:FB), Netflix, Inc. (NASDAQ:NFLX) and YouTube. The recent hearing by Supreme Court against Aereo comes as a win for the American broadcasters.
Stephen Land, CEO of Jupiter Entertainment was on Bloomberg recently to discuss about the impact of social media on the television industry and how these social media networks capture the audience of tv industry. He said that the win against Aereo is a major one, however there are so many other competitors such as YouTube and Netflix, Inc. (NASDAQ:NFLX) giving the TV industry a run for the money. Here is what he said about the competition in the entertainment industry:
“There are so many competitors in the market place. There is so much clutter in the market place, there are so many networks now and then you got Netflix, you got YouTube and all the digital platforms. Its a crazy time”
However Land also agreed that all these mediums increase the scope of a content creator as there are so many ways to distribute the content, may it be Facebook Inc (NASDAQ:FB), Netflix, Inc. (NASDAQ:NFLX) or YouTube and there is a huge list of such media. He feels that the most important thing is telling a compelling story and finding great characters are the most essential things and that the platform doesn’t matter.
Land said that social media is having real impact on TV. He thinks that social media platforms like Facebook Inc (NASDAQ:FB), Twitter Inc (NYSE:TWTR) and YouTube present a good opportunity to promote shows and to reach a lot of people. The feedback the content creators get from the viewers through social media sites like Twitter Inc (NYSE:TWTR) or Facebook Inc (NASDAQ:FB) help them moderate the content a little to cater to the demand of viewers.
He felt that there are a number of ways to get the content to the viewers and TV is not necessarily the only medium.