TV companies suffer because of social networks

The Guardian shared an interesting study of the OC & C Strategy Consultants, the result of which it turned out that the popular British television companies would lose 1 billion euros of revenue each year because of their competitors in the IT industry.

The main threat to British TV is represented by YouTube, Facebook and Amazon. The problem is that platforms are a huge collection of different kinds of content that provide a variety of sources of information that the user receives. So now Facebook and YouTube are already working, channels with a variety of content are widely represented on these platforms.

But the OC & C Strategy Consultants study also examined examples from other areas. Thus, after the emergence of services like Uber, revenue of taxis has decreased by an average of 20%, traditional insurance companies have lost 5-10% of revenue, in the music and news industries, revenues have fallen by 20-30%.