The CEO of ProSiebenSat.1 Media SE has warned of the growing threat from 'FANGA' to traditional media.
Speaking at the 4th Annual Zurich Summit, Thomas Ebeling discussed the innovations being brought to the media industry by Facebook, Amazon, Netflix, Google and Apple. “This is something that is putting all of us under pressure,” he said.
Ebeling predicted that 'FANGA' will continue to make “life difficult” for traditional players in the market.
However, he pointed out that there is still a role for traditional media, particularly with older viewers. “People who have to work eight hours a day like to lean back in the evening” and to be guided through the schedule, he said. Ebeling told the Summit that TV continues to have a "reach" with viewers over 40 that should provide “a very good foundation” for its survival over the next 20 years.
Ebeling said the challenge for traditional TV is to differentiate itself from Netflix and the other 'FANGA' companies by offering “live” shows and more local content.
“What’s next for us? We probably have to invest more in local content. That’s unavoidable. We have to invest even more in technology and we have to diversify even faster,” Ebeling said.