Okay, the other topic that I want to talk about today is this trend which is increasing in TV and it’s called over the top TV and no, I'm not talking about in your face kind of TV. No, over the top here means direct to consumer Internet delivery of content without the need for cable or satellite subscription. So we're talking about IT protocol, it's going to be Internet protocol TV, and so some good examples would be Netflix, Hulu, and even cable companies are now getting into the act. So it's a revolution, which was started, again, by the likes of Netflix, that you can bypass set-top boxes, such as those required beforehand by cable TV. And the entertainment implications are very far reaching, that it has led to this fragmentation of the audience. And even though, starting off, the viewership may be very small but through this word of mouth and so called sleeper effect, shows why Breaking Bad can develop a relatively wide, not even the cult, but actually a very wide audience. Not only in the domestic market but also in the global market as well. My son for example is a huge fan of Breaking Bad. It also allows binge watching where late comers such as to shows like House of Cards, they can start it late, but catch up, because its all available on demand. So they can even starting at season three, watch season one, season two, and season three. So it doesnt take them a lot of time, they dont have to wait for these shows to come on air again for them to catch up. Also in the case of Netflix this has provided an incentive for them to get involved in different parts of the value chain especially at the production end. So, in a way, I think a rough comparison is a specialty private apparel companies, like who too, also, have integrated their whole channel not just distributing, but also designing and producing. So the same is happening here via OTT. And what's great about OTT is that given the value that can be had by companies like Netflix, in some cases, such as with the House of Cards, I think the content, the narrative, is as good if not better than that of movies. I mean think about it with movies, even with sequels, you have at most maybe four hours of content. Whereas with the House of Cards, in one season, you will have many times that and accumulated over seasons, of course much more. So well there's much more compelling, kind of, narrative that can be developed via OTT. Okay, so what are some of the marketing implications of OTT TV? Well I guess first and foremost cable companies have lost power and that's why they too are getting in to the act and providing OTT TV service. Segmentation targeting and positioning is becoming very very important because we have new generations, the so called Millennials that have been born in the Internet age, and therefore they've never watched broadcast TV, they've never watched cable TV. So again, people like my son, they only watch TV through their Internet devices, whether it's a desktop, or whether it's their smartphone. So if you're trying to target, if you're trying to reach the Milennial, the medium chose of course will be OTT. Again this also about power, so if cable companies have lost power, guess who has gained power, and that would be the consumers. So called on demand content that is the reality that TV companies are facing so a consumer is king now and their king 24-7. So they want demand, excuse me, they want content. They demand content again whenever they want to see content which makes the delivery of content that much more difficult and it has to be in a multi-platform way. So especially with wearables now, not just smart phones. This is where you might have to provide different kinds of platforms to make sure that people can access content whenever they want. And so they dilemma for companies is if they're delivering content through all these different kinds of platforms, is it good for them? Meaning is there synergy or how much of that creates an over lap which is what cannibalization here refers to. So I think as companies we have to sort that equation out. Okay, so wrapping up virtual reality is growing, and I've experienced firsthand how engaging it is and how experiential it is and it's not just limited to entertainment. We've also learned about OTT TV and how its fragmenting the delivery of TV content, and as companies I think we really have to sort it out how to deal with the OTT trend and even though multi platform is how they are dealing with it. Again I think there needs to be more balance in terms of thinking through what the synergy and the cannibalization ramifications are.
