Podcast Summary
Television Technology Evolution: From dangerous, bulky sets to sleek, remote-controlled TVs, this podcast discusses the history and evolution of television technology and the businesses that shaped it, including rental services and the introduction of the TV remote control.
Learning from this podcast episode is the fascinating evolution of television technology and the business behind it. From the bulky, dangerous sets of the 1930s to the sleek, remote-controlled TVs of today, this discussion offers valuable insights into the past, present, and future of television. Tom Cheese, a technology expert and futurist, explains how early televisions worked, which might surprise those who grew up with more modern sets. He also shares why renting TVs was common in the past due to their high cost and frequent repairs. The episode also touches on the introduction of the TV remote control and the businesses that supported the industry. Overall, this podcast offers a captivating look into the history and development of television technology and the businesses that have shaped it.
Television Industry Changes: Since the 1980s, the television industry has seen significant changes with the introduction of breakfast TV and innovative products like Wake Up TV. However, sales have declined due to competition from other devices and the longevity of flat-screen TVs.
The television industry has undergone significant changes since the introduction of breakfast TV in the 1980s. Back then, companies like Hinari saw tremendous growth due to the demand for TVs in the kitchen. Innovations like the Wake Up TV, which combined a digital clock and a TV, were popular and even sparked complaints from customers. However, with the advent of various technological devices and changing housing patterns, the sales of TVs have declined. Today, only about 40% to half of viewing is conventional TV, and fewer children have TVs in their bedrooms. The industry peaked around 2010-2011, and the UK now sells fewer than 6 million TV sets a year. The main drivers for this shift are competition from other devices and the reliability of flat-screen TVs, which people keep for longer periods. The market is primarily driven by new technology, and when there's not much changing, sales remain steady.
Niche markets in TV manufacturing: Focusing on specific markets and competing on price can help small companies succeed in the competitive and low-margin TV manufacturing industry
Brian Palmer, the founder and CEO of Chello Electronics, has managed to keep his UK-based TV manufacturing company profitable despite fierce competition from global brands. Chello's success comes from focusing on niche markets, such as DVD players and televisions for mobile homes, and competing on price. The wider TV industry is tough, with most big players making only a 2-3% margin. Innovations like the shift from analog to digital TV and the rise of smart TVs have been game-changers in the industry. Chello was even the first company to stream BBC iPlayer, but they did not seek to make significant profits from being first to market. Overall, the TV manufacturing industry is competitive, and profit margins are slim, but there is potential for small, nimble companies to succeed by catering to specific markets.
TV Technology Transitions: The shift from CRT to flat panel technology revolutionized TV with larger, better quality screens and more channels, while 3D TV failed to take off and streaming is now leading the industry, with live TV continuing to be accessible through both traditional and streaming methods, and future advancements including larger LCD panels and smart technology.
The shift from heavy, bulky CRT TVs to flat panel technology was a game changer in the television industry. This transition allowed for larger TVs with better picture quality and more channels, leading to a surge in consumer interest. Conversely, the adoption of 3D TV failed to take off due to its incompatibility with the home viewing experience. More recently, the rise of streaming has revolutionized TV by making content more accessible and allowing anyone to produce and share it. Looking to the future, it's likely that live TV will continue to be accessible through both traditional methods and streaming services, but the exact timeline depends on regulatory decisions and technological advancements. TV manufacturers are investing in larger LCD panels and smart technology, which could lead to more advanced and versatile TVs in the future.
TV Future: TV industry is transforming with a focus on connectivity, customization, and monetizing data, including ads and user data, with profits from these sources surpassing hardware sales
The future of TVs is headed towards bigger screens and more connectivity, with a focus on monetizing ads and data. TV manufacturers are already making significant profits from these sources, surpassing the profits made from selling TV hardware. This trend is expected to continue, with retailers like Walmart making strategic acquisitions to capitalize on this new revenue stream. As for the size of TVs, while there is a growing market for massive screens in commercial settings, it's uncertain if the UK market will have mass appeal for TVs larger than 65 or 70 inches. Looking further ahead, TVs may become almost invisible, integrated into walls, and offer incredibly high resolutions. However, the future also holds the potential for more personal viewing experiences through wearables, headsets, and even smart contact lenses. Overall, the TV industry is undergoing a major transformation, and the future is all about connectivity, customization, and monetizing data.
Impact of Technology on Social Lives: Technology's advancement brings new innovations, but it's crucial to consider the impact on human connection and shared experiences, as our inherent desire for community remains important.
Technology is constantly evolving, and while devices like smartphones may reach their limits, new innovations like augmented reality glasses or contact lenses are on the horizon. These technologies could offer more immersive experiences, but they also raise concerns about human connection and shared experiences. Despite the decline of traditional TV markets, there's still a future for television due to our inherent desire for human interaction and shared experiences. So, while technology continues to advance, it's essential to consider the impact on our social lives and cherish the moments where we come together to enjoy media as a community.