And the Emmy goes to: Netflix
Issue No. 15: Eat your own lunch to survive.
The steaming wars have left the legacy broadcast businesses in the dust. This is no longer up for debate. And while Netflix accounts for just 7% of all television viewing, they are producing content people want to watch in a way they want to watch it.
In a new survey from Roku and Harris Poll, viewers are spending 78 more minutes per week streaming content versus traditional television programming. The gap in 2020? 12 minutes.
That represents an increase in the gap of 550%. The war is over.
Did You Hear?
On Sunday night, Netflix made history:
Netflix won more Emmy Awards than any other network / streaming service for the first time ever! They did it while doubling their haul from last year, bringing home 44 total awards. It was more than double the nearest competitor, HBO/HBO Max who nabbed 19 total awards.
My old boss Gary Vaynerchuk said years ago businesses should be trying to put themselves out of business.
Of course he wasn’t serious in literal terms, but he was deadly serious that businesses should always be focused on re-inventing themselves. None of the legacy players were willing to lead, so Netflix did. Where are ABC, NBC, and CBS? Stuck in their old broadcast ways.
You must find ways to challenge your own status quo to remain relevant in our constantly changing consumption behaviors.
Something to Consider
I spent three days at FinovateFall 2021 last week in my beloved New York City learning from and meeting some of the most innovative minds in the world of finance technology and customer experience.
They posted a Twitter poll that I wanted to share.
I was surprised how much higher user experience came in this unscientific poll. But then again, if you don’t get customer experience right, what else matters?
What a busy fall it is shaping up to be … what are you looking forward to?