Section B Revision
Published on Jan 29, 2016
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Section B Revision
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New technology can also provide opportunities for media firms. The value of archives is growing in the internet age: owners can profit from older programmes that are rarely broadcast. Netflix and other online-video firms are snapping up old films and drama series. When a musician releases a new album or goes on tour, old songs are streamed more too, says Daniel Glass, who runs a music label.
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Netflix and Amazon are paying around $3 billion to license content, a figure that is sure to rise. Television and film companies are selling rights to broadcast content after it debuts but before it is repeated on TV. It’s working. Sanford C. Bernstein, a research firm, reckons online licensing was responsible for about a third of the growth in revenues at CBS, an American media firm, in 2012.
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Consumers are now 'Stabilising' because of downloads, rentals and streaming services, to the relief of Hollywood studios, Netflix were once scorned for undermining DVD sales. Now those sites—and others, including Amazon, are boosting profits at media firms by buying the rights to stream content online.
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The surge in smartphones, tablet computers and broadband speeds has encouraged more people to pay for content they can carry around with them. According to eMarketer, a research firm, this year Americans will spend more time online or using computerised media than watching television. “All-access” services, such as Netflix (for film and TV) or Spotify (for music), which give unlimited content on mobile devices for a monthly fee, are prompting people to spend more on digital products.
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