Residents in Shanghai on Thursday said they would rely increasingly on self-protection, after China made its most sweeping changes to loosen Covid-19 restrictions since the pandemic began three years ago.
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Historically, broadcast news has been profitable. The broadcast networks have built a library of content that audiences can access on-demand. They’ve invested hundreds of millions of dollars in streaming operations. But now, streaming has arrived on the scene, reshaping the news landscape.
Streaming has made video news ubiquitous. It’s possible to watch news on the go, on TV or on a phone, at any time of the day. And it allows networks to archive and rerun content. It also cuts the scarcity in the media equation, enabling viewers to customize their news experiences.
Historically, broadcast news was linear. Streaming networks have repurposed programming from cable. This enables them to reach a niche audience of viewers who may not want to pay for TV news.
The emergence of new choices for the television audience can also feed polarization. For example, a multiplicity of choices could mean that consumers who don’t like the same program would be willing to switch channels. In addition, a low barrier to entry encourages more players into the market.
There’s no reason that streaming won’t reshape political news coverage. In fact, it’s likely that online video streaming will attract new, overtly political news operations.
In the meantime, major news networks have high hopes for streaming. For instance, NBC News Now has generated 31 million hours of content per month, and it plans to beam 45,000 hours of local news in 2022. It’s also looking into expanding its geographic coverage.
