Gen Z, the internet’s favorite punching bag, is reportedly killing yet another industry: television. In addition to print newspapers, photo copiers, alcoholism, and side-part hairstyles (all of which have been genuinely reported as dead or dying thanks to the younger generation), Gen Z is bringing down what was once the most dominant media format, as streaming‘s popularity continues to rise.
While the stars are out in force at the Venice Film Festival, basking in the sun and promoting their new movies, industry insiders attended a panel (via Variety) about “how platforms and broadcasters can aid the international circulation of domestic titles in a saturated market” (sounds riveting). The panel, which was attended by prominent heads of European broadcast networks, came to the consensus that Gen Z is a difficult audience to market TV programs to, as social media and streaming have taken over as the new “sexy” formats.
“We are actively finding audiences who don’t watch TV anymore,” said Diana Tabakov, a representative of Czech streaming platform Ivysilani. “We are very good at approaching millennials and older, but it’s difficult with Gen Z, which is a problem with all public service broadcasters.” The streamer is a relatively new, internet-focused off-shoot of a major Czech broadcasting channel, tasked with appealing to the Gen Z demographic. Tabakov summed up Gen Z’s attitude towards network television by saying:
“Young people think television is for their old grannies. I am okay in saying that, as a public service media, we will never be cool and sexy but we can try being an elegant lady and not the granny.”
Is Streaming Reverting to the Network TV Model?
The Blockbuster-killing streaming model was originally intended as an ad-free, subscription service offering thousands of movies and TV shows at the touch of a button. Its two key selling points were ease of use, and “unlimited” access to content. However, the last few years have seen some major changes which have radically transformed streaming as a service.
The most notable and frustrating change for most users is the sheer number of streaming platforms. Remember when Netflix was the only streaming platform available? Well, to quote Malcom in the Middle, “the future is now, old man.” Those days are long gone. For decades, studios were unable to own and operate movie theaters due to the “Paramount decree,” a piece of legislation from the 1930s meant to curb monopolies (that legislation was struck down by the Supreme Court in 2020). Nowadays, almost every studio has its own streaming service, filled with original and exclusive titles. As a result, the cost of subscribing to every single one far exceeds what it once cost to subscribe to a TV package through a cable provider.
Coming in a close second, streaming services have had to develop new ways of profiting from their users. Producing original content to entice new subscribers only goes so far in earning revenue for platforms like Netflix and Prime Video. A lot of streamers have resorted to including ads in programming to maximize profits and appease those all-important shareholders (all hail capitalism). Finally, and most strangely, one of the major limitations of network television was that audiences had to wait until their favorite program or movie was scheduled to air. Streaming services removed that problem. However, Disney+ recently announced that it’s developing live channels on the platform which will show new movies and shows back to back. You know, like television would.