PwC says that television execs have a little time to relax before their lucrative business models implode. The consulting firm reached its conclusion after sponsoring a recent debate between the Marketing Association of the Columbia Business School and the Virginia Commonwealth University Brandcenter on the question: “Should advertisers, agencies and the media worry about cord-cutting?” PwC agrees with the Columbia team that with growing competition from Web video providers, and Internet-connected game consoles, “there’s no question that television viewership trends are dramatically changing.” But the firm sides with Virginia Commonwealth concluding that “the impact to the pay TV industry over at least the next five years will be minimal.” The reasons: “Traditional TV viewing is still popular, ubiquitous TV content-on-the-go-packages are becoming commonplace, TV advertising dollars continue to grow, and there are limitations such as content discovery issues with [Web-based] services that need improvement.” Tablets and smartphones, also known as second screens after TV, are becoming important. PwC says that’s no problem for conventional TV: Networks are “developing dynamic companion apps both at the network and show-specific levels to extend viewers’ experience.”

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