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3 HOW YOUTUBE CAN AND CANNOT REPLACE TRADITIONAL CABLE AND SATELLITE TELEVISION Being number one in the world of online video, naturally YouTube wants more – to become the absolute provider of video entertainment and replace traditional TV or possibly, simply absorb it. And YouTube TV, the new project of the company, clearly confirms this intention. In the next chapter I would like to analyze and compare YouTube and traditional TV, I will try to describe the reasons why people prefer online streaming to cable TV and understand if YouTube can be considered as a substitute to traditional TV. Despite loud talks about the inevitable collapse of TV, I do not think that it will happen. TV will not die absolutely, because people are still looking for entertainment, but will pass the process of total transformation and will take absolutely different shape. The reason why people decide to abandon cable TV is not because they do not want to watch shows or movies, but due to the archaic and inconvenient form of TV broadcasting, when someone dictates them what to watch and when, does not suit them anymore. This process of transformation has already begun, and we are eyewitnesses of it. YouTube, Netflix, Hulu and other popular online services offering streaming videos online are the result of this transformation. TV is not anymore, the monopolist in the world of entertainment and has two choices – accept this fact and transform their business models, making them match the demand, or just give up. Talking about business model, now I will compare YouTube’s model and traditional TV’s model. 3.1 Comparison of TV’s business model and YouTube’s business model While YouTube is a self-regulated platform, consisted of millions of independent creators without any “center of power” which would control or regulate production of content. TV represents a hierarchical structure with thousands of employees, that are working on the creation of TV content – producers, actors, stylists, PR managers, directors, scenarists etc. So, creation of a single show requires really big production costs, which TV has to cover. The important indicator for TV is the number of views, the same as for YouTube. If a TV show is popular and ratings are high, advertisers are willing to pay a high price for it. But income from ads is not any more the primary source of revenue for TV channels. They share with 35PDF Image | Youtube a new era of TV
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