Wireless technology, smartphones, tablets, and new generation of televisions are making it possible to watch video programming, play games, or interact with social media by acquiring content from virtually anywhere around the world. As televisions become more connected, manufacturers are integrating many components that were previously only available on computers. LG, Panasonic (News - Alert), and Philips are offering Magine AB cloud services in their European smart televisions. This will give consumers the ability to watch content using cloud technology directly on their sets.

The service will be available in the early part of 2014, allowing users to use their smartphones, tablets, or personal computers to surf channels, rewind shows, access archived content as far back as 30 days, and use Internet links to scan television schedules.

The cloud-based entertainment platform is a disrupting technology that will put a lot of pressure on companies that rely on TV set-top boxes, cable, or satellite dishes. Because the cloud platform allows businesses to be set up easily, companies can start offering content using this model from virtually anywhere around the world.

In the end this solution is going to benefit the consumer, because they'll be able to access the entertainment of their choice anytime and anywhere with multiple devices without having to be tied down to a DVR or a cable box.

Magine is looking to expand throughout Europe, but currently it only operates in Sweden, Spain, and Germany. The service in Sweden is available for only $15.50 a month with 38 channels that includes Discovery, BBC, Eurosport, National Geographic, and Cartoon Network.

While small companies can enter the market, this sector is going to be dominated by large multinational companies that are investing heavily to capitalize on this opportunity. AirPlay (News - Alert) with iCloud capability from Apple and Google (News - Alert) Chromecast use cloud technology to stream content to any device without having to download it. Even though some of these companies still require some type of hardware, the next evolution of this technology will get rid of them, which will be just like Magine.