Just this week, a series of announcements and new initiatives has underscored the pace of change, including the launch of “Snap Originals”, an offering of original scripted shows designed specifically for the Snapchat platform, as well as news that AT&T’s WarnerMedia plans to launch a direct-to-consumer video streaming platform next year.
In addition, CNBC reported this week that tech giant Apple has devised a new digital TV strategy that will involve mixing free original content with subscription services from legacy media companies.
Citing sources said to be familiar with the matter, CNBC also revealed that Apple is looking for "tent pole" franchises that could serve as linchpins to a paid subscription service similar to Netflix.
Meanwhile, Instagram, the Facebook-owned image-sharing platform, announced new partnerships with Meredith and Vice to make original series for its IGTV standalone vertical video app.
And also this week, Hewlett Packard Enterprise CEO Meg Whitman and film producer Jeffrey Katzenberg unveiled a new mobile video streaming service called Quibi, which will offer short-form, 10-minute entertainment curated for each viewer.
According to CNBC, the two founders have raised $1bn from media and technology investors, including Disney, Fox, NBC Universal and Alibaba, the Chinese e-commerce giant.
Axios, the news website, covered these and other developments in the rapidly changing TV market in an article entitled The battle for the future of TV.
“None of these companies that are looking to own the future of television are TV networks, and only a few are telecom companies,” concluded Axios reporter Sara Fischer.
“Technology companies are mostly the ones looking to upend the traditional TV landscape through innovative distribution of video content via the internet,” she added.
Sourced from Axios, CNN, CNBC, Variety; additional content by WARC staff