Television is in the midst of a seismic structural realignment. AT&T last year spent the princely sum of $85 billion on acquiring Time Warner. In Europe, Comcast outbid Fox – newly part of the Disney empire – to purchase Sky. Rumours persist in financial markets that Apple is tempted by an eye-watering $190 billion offer for Netflix.
At VidCon London (February 2019), Simon Andrews, Managing Director of agency The Media Kitchen, attempted to make some sense of this revolution in small screen media in a presentation entitled ‘Reinventing television so it works for all parties – advertisers, platforms and the viewers’.
Based on the combined value of TV ad revenues and subscription fees, The Media Kitchen estimates the global television industry to be worth $550bn. This scale ensures TV will continue to be one of the most important channels available to brand advertisers for the foreseeable future. “You hear that lazy headline – ‘TV is dead’ – but we think it’s complete nonsense. TV has never been healthier than it is now,” said Andrews.