This week, we learned that the percentage of US homes will actually fall for the first time this year. Research company Nielsen said that the number of homes with a TV will fall 2.2 percent this year.
Further, the Digital Entertainment Group found that DVD and Blu-ray disc sales fell more than 20 percent over the last year, while subscription streaming service revenues skyrocketed 33 percent.
How quickly things change.
Just a few years ago, flat panel televisions made up the fastest growing consumer electronics category on the planet.
Around that time, too, Hollywood disc sales were hugely healthy, with no end in sight.
What happened?
In critical mass now, people are starting to watch television and movies on their computer, tablet and smart phones. Which is, basically, a death blow for discs, and an invading army in the land of TV sales.
Change comes with lightening speed in consumer electronics.
It’s why I’ve always said that even if you’ve attained a measure of success of in this industry, you cannot pause for one minute to enjoy your accomplishment.
You must continue to innovate within your market.
You must continue to fine-tune your existing products and continue to develop your next breakthrough device.
You must also constantly improve your marketing: communicate better messages more clearly.
And, for goodness sake, never stop talking with your customers. That’s the worst thing you can do.
In an incredibly fast moving market, innovation of product and marketing will help you keep pace.