Business is getting better! Finally!!! Give yourself a pat on the back for making it through the hardest times in recent history but don’t let yourself be fooled. The economy is only part of the equation.
Consumers have changed. They no longer have to wait for your local news to get caught up. They no longer have to watch your best Prime during prime hours. In fact, they really don’t need you at all except for super special events like the Super Bowl and who knows when that will be streamed online or snapped up by the NFL Network.
You know all of this but are you investing in reinventing yourself before it’s too late? The uptick in business could falsely make it seem like things are all better now. But Forrester’s Mr. Cooperstein said, “Every incremental dollar that goes somewhere else is going to impact the TV business.”
How are you capturing incremental dollars? Are you looking at new revenue streams such as partnerships or new verticals? Are you looking to monetize your assets such as developing video or programs for sale? How about creating programs that include product/advertiser placement revenues?
Yes, this means an investment in your future. Where better to invest?
I like this post. I’d like to see my local news become more responsible and send more content to me directly instead of always showing me links to get to their website on a visual newscast. I might “subscribe” to the features of the local newscasts I like best to come to me. I’d like the full newscast available and indexed by topic online so when I hear the next day about something broadcast I could go back and just watch that. I’d also like my news sent to a service like hulu or something that I could subscribe to and watch periodically. I’d like to hear less about the kid that fell out of the window or whose idiot father ran over them with a bulldozer and more about good things being done in the community like the opening of Ryan House. I want all of the news I get to be something that concerns me directly and that I can take action on (positive or negative). Not just titallates them and gives me nightmares.