What challenges are the TV industry currently facing ?

Streaming and the internet.

That's an ungrammatical question. The subject is "TV industry"so the verb should be "is".

Anyway, the biggest challenge right now is the proliferation of channels and streaming content online. When there were 3 networks, they divided the viewing audience up among them. Now there are hundreds of channels, so each one gets a very small fragment of the audience. Many people spend a lot of their time streaming videos from YouTube or other sources instead of watching TV. More and more tv networks are setting up subscription services, where viewers have to pay per month to watch the content because advertising revenues are not enough to support them. 

Google it. There is a mountain of information regarding this out there.

super/ultra HD broadcasting (i.e. the establishment of a new broadcasting standard  that offers significantly improved specs over current HD broadcasting)

TV that is sexually oriented