In Television Is the New Television: The Unexpected Triumph of Old Media In the Digital Age
, author Michael Wolff argues that TV is still king and all the new digital upstarts are just jealous and really want to be like the "old media."Now after the way media stocks have been lately, you might say, "what are you talking about?" Aside from stock prices, pundits have hailed this as the golden age of television.
In fact, some may argue television has replaced movies as the new cultural currency.
Penguin Random House sent me an advance copy of the book which came out in June and it was a hard book for someone like me to put down!
Wolff argues that TV is the new TV because despite the onslaught of new media, the old guard keeps finding ways to make new money and survive while some of the new folks fade away.
In fact, the new digital platforms, he argues, have only increased TV ratings. Thanks to the likes of Netflix, TV has found new revenue streams thanks to licensing deals.
Meanwhile, digital media, from web to social to apps, have experienced continuously dropping ad rates.
Wolff points out that digital kings like Mark Zuckerberg have stated video is the future of Facebook. Website Vice got to TV as fast as it could and is trying to buy a cable network. In fact, is Netflix a technology company or just a new TV network that produces its own programming and also "airs" other's work?
"The revolution that began in the 1950s continues on, leaping over the digital distraction," Wolff said.
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