For many college students, Netflix is pretty significant part of life. Some own cable, while others don’t. Some of us are able to watch television shows the night that they are released on tv, many of us are busy on these nights and unable to do so. Netflix has revolutionized the television delivery system because people now have more options in how they want to receive their entertainment. Before options like Netflix or Hulu, people either had to permanently purchase the shows they missed or access them through piracy. Netflix has given the public a product that adapts to their schedules within the bounds of the law.
Wall Street Journal writer Amol Sharma wrote that “…Netflix is shaking up Hollywood, spurring media companies to experiment with new ways of doing business and changing the economics of producing some types of programming. TV and film studios once saw Netflix simply as a way to make some extra money licensing older shows and movies. Now, they view the streaming site as a potential financier, a launch pad for original shows and an aggressive buyer of some programming that is less valuable in the TV world.”
Netflix poses a serious and relevant threat to the traditional medium of broadcast television. CBC News author Pete Evans recounted an interview with Netflix CEO Reed Hastings, in which Hastings implied that broadcast television will be extinct by 2030. However, in the article, Evans did not discuss the role of advertising in broadcast television. Broadcast television still has more advertising ability than Netflix, and it will continue to reap the benefit of those advantages. But in the event that Netflix finds a way to cirumvent this, we truly could see the end of broadcast television.