Digital Streaming – Is it the future of Broadcasting?
Digital Streaming is a new way to transfer information and media from one place to another, in which the data is compressed and sent via the internet to the recipient. (US Patent No. US6445797 B1, 1998) The primary distinction between this and traditional broadcasting is that there is no requirement for the data to be saved or stored on a hard drive before viewing. Since its inception, this technology has quickly evolved to become one of the biggest threats to the medium of traditional broadcasting, along with institutions such as the British Broadcasting Corporation (BBC) and International television (ITV). The Digital Streaming in question can be experienced in many ways but for the purpose …show more content…
The first of which would argue that the primary reason for traditional broadcasting remaining prominent in the industry is that everyone in the world, be it to a minor or major extent, is affected by the status quo bias. This is the concept that whenever someone is faced with a decision or choice, they are more likely to lean in favour of the choice or decision that will create the least change from how they currently live their lives. (Samuelson, 1988) This theory would apply itself to the future of broadcasting in the form of people who have lived the majority of their lives watching broadcasts in the traditional formats, that being, on a TV. So when these people are faced with the decision to stick to watching TV or to switch to a digital streaming format, the status quo bias dictates that there is a much higher likelihood that these people would lean more towards keeping the traditional …show more content…
A slightly more theoretical argument that would support digital streaming’s future in a positive light could also be made from this revelation. It is understood that in any market, a monopoly is ineffective for the overall future of said market: “Competition is central to the operation of markets, and fosters innovation, productivity and growth, all of which create wealth and reduce poverty.” (Godfrey, 2008) This is because within a competitive market (a market which is not a monopoly) the different companies are forced to always try and top each other, creating advancements in their market and growing the market as a result. So while the digital streaming market truly boomed and reached widespread recognition after the release of Netflix, the creation of these other competitors in the digital streaming market the competition increased and thus the innovation and growth of the market increased. So long as the digital streaming market continues to grow and innovate, the argument can easily be seen for it to become the norm of the broadcasting
Digital Streaming is a new way to transfer information and media from one place to another, in which the data is compressed and sent via the internet to the recipient. (US Patent No. US6445797 B1, 1998) The primary distinction between this and traditional broadcasting is that there is no requirement for the data to be saved or stored on a hard drive before viewing. Since its inception, this technology has quickly evolved to become one of the biggest threats to the medium of traditional broadcasting, along with institutions such as the British Broadcasting Corporation (BBC) and International television (ITV). The Digital Streaming in question can be experienced in many ways but for the purpose …show more content…
The first of which would argue that the primary reason for traditional broadcasting remaining prominent in the industry is that everyone in the world, be it to a minor or major extent, is affected by the status quo bias. This is the concept that whenever someone is faced with a decision or choice, they are more likely to lean in favour of the choice or decision that will create the least change from how they currently live their lives. (Samuelson, 1988) This theory would apply itself to the future of broadcasting in the form of people who have lived the majority of their lives watching broadcasts in the traditional formats, that being, on a TV. So when these people are faced with the decision to stick to watching TV or to switch to a digital streaming format, the status quo bias dictates that there is a much higher likelihood that these people would lean more towards keeping the traditional …show more content…
A slightly more theoretical argument that would support digital streaming’s future in a positive light could also be made from this revelation. It is understood that in any market, a monopoly is ineffective for the overall future of said market: “Competition is central to the operation of markets, and fosters innovation, productivity and growth, all of which create wealth and reduce poverty.” (Godfrey, 2008) This is because within a competitive market (a market which is not a monopoly) the different companies are forced to always try and top each other, creating advancements in their market and growing the market as a result. So while the digital streaming market truly boomed and reached widespread recognition after the release of Netflix, the creation of these other competitors in the digital streaming market the competition increased and thus the innovation and growth of the market increased. So long as the digital streaming market continues to grow and innovate, the argument can easily be seen for it to become the norm of the broadcasting