Cable Networks Will Be Last Old Media to Face Digital Destruction
Even the cable networks that are today’s multi-revenue stream darlings are destined for the same “digital destruction” as advertising-supported broadcast television, newspapers and other traditional media. It’s just a matter of time. That likely scenario from former News Corp. president and COO Peter Chernin, represents the final blow to media conglomerates. which currently rely on their cable networks for at least 60 percent of their profits. Whether niche cable programming can survive and thrive in a streaming on-demand video world “is the single biggest question facing the media industry,” Chernin said Wednesday during a roundtable discussion USC Annenberg School for Communications. “At some point, it (cable) is vulnerable to the same disaggregation as everything else,” he said. Chernin should know….
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