|CYNOPSIS: Leadership Insights
As we deal with the ongoing health crisis, how should the media community position itself for a post-coronavirus world? Cynopsis asked thought leaders to share their insights on the best path forward.
“We’ve already seen people moving away from linear TV for the last five to ten years, and now we have consumers home starving for something to do. People are looking to occupy time – kids are home all day, parents working from home. Streaming services are doing far more than linear TV to deliver that content. From an advertiser’s standpoint, it makes the AVOD services that much more interesting and more important – it’s why Fox bought Tubi, why Comcast is launching Peacock, why Viacom bought Pluto. Not to mention in a world without sports right now it makes those platforms even more valuable in terms of eyeball capture.”
– Rich Greenfield, Partner, TMT Analyst at LightShed Partners
“I think the media must do a better job securing the trust of our end users. With lax policies towards privacy, the morphing of news into for-profit entertainment, and an ever-present ‘both sides have points’ approach to basic black and white facts, we have completely and utterly devolved from the time when Walter Cronkite was the most trusted person in America. The lines we have blurred between information and entertainment have degraded the trust viewers have in us, and all but destroyed the loyalty we once enjoyed. In short, this crisis has put in stark relief the notion that in order for all of us to thrive and survive, we must create much clearer and brighter lines between the fact and fiction divisions of our industry.”
– Evan Shapiro, President, National Lampoon
“We are witnessing the third revolution of digital media today. The first revolution was the move from analog to digital content, the second was the move from linear to on-demand streaming, and the third is the move from manual, paper-based workflows to cloud-based digital operations. Over 75 percent of all internet traffic is audio-visual digital media content, yet there is no fundamental protocol to manage digital intellectual property rights, distribution and financial operations. The Coronavirus epidemic has accelerated this revolution with a surge in media consumption globally amidst the social distancing paradigm. Organizations that embrace this change will remain competitive as this revolution evolves.”
– Arjun Mendhi, CEO, Molten, Inc.
“While we hope the end of this pandemic will be upon us very soon, our mission at Verizon Media has become more important than ever. We are focused on guiding the tens of millions who visit our site daily with trusted content and tools to allow them to stay informed through this uncertain time. We also are preparing for the post-coronavirus world by proactively addressing the changing needs of our consumers and partners. We’ve seen the world shrink in a matter of weeks as people have leveraged digital media to connect to what matters most to them – from physical and mental health to fiscal fitness. Enabling consumers to connect to their passions has and will remain the focus of Verizon Media.”
– Joanna Lambert, Head of Consumer, Verizon Media
“This has been a difficult time for many, but a bright light has been how cable has played what the Department of Homeland Security has deemed a ‘critical’ role in keeping us connected. In today’s socially-distant world, we’re being united every day by virtual offices, virtual classrooms, virtual concerts and even virtual parties that are possible only because of the industry’s technology investments in greater capacity and higher speeds. This crisis will pass, but in the meantime we’re spearheading a 10G platform and telehealth, telemedicine and aging in place applications that will help win the war against – God forbid – similar scenarios in the future.”
– Mark Dzuban, president and CEO, SCTE•ISBE
The New Opportunity: Esports Betting
April 7th | 1:30PM EST
While the COVID-19 pandemic has shut down nearly all major sports events and their respective betting opportunities, esports is providing fans with new, live options for betting and daily fantasy moves. Join us for our latest webinar, produced in partnership with the Nevada Esports Alliance, to learn how esports can affect the betting industry. Hear from Seth Schorr (CEO, Fifth Street Gaming) and Ian Smith (Commissioner of Esports Integrity Commission).
|“A couple of things are crystalizing right now for programmatic media. One is that it’s amazingly resilient. Real-time dynamics can lead to dramatic market shifts, but that flexibility makes programmatic adaptable. The performance can change and the show goes on. That’s an encouraging sign considering all the recent hand-wringing about programmatic’s future. Less encouraging is brand safety. Somewhere along the way everyone got convinced that the only way to be safe in programmatic is with an ultra-conservative mindset and brute force tools. Publishers are starving and advertisers have seen their reach evaporate, so who’s benefiting? Considering all the ink I’ve seen spilled around this issue already, I think the industry is starting to recognize that it needs to re-evaluate how it approaches brand safety.”
– Phil Schraeder, CEO of GumGum
“In times of great uncertainty, it’s important to shift focus on the American psyche today. Many advertisers are either re-thinking their strategies or moving their campaigns to a more ‘optimal’ flight. But, now more than ever is the time to hear from brands, and how they can help their consumers get through these tough times. Everyone has a role to play right now and as collective community we can do a lot of good to help each other, and that includes the involvement of the media industry.”
– Bonnie Kintzer, CEO, Trusted Media Brands
“Media Ranch creates, produces and sells unscripted formats, which, by nature, means that our ideas should resonate in any territory. We realized, even before recent events, that a surge for unscripted formats was coming. Now, with current global health crisis it meant that some of our formats needed to adjust so producers could create in today’s climate. So, we created a new format category called QTF – Quick Turnaround Formats. The QTF will be very helpful to producers as soon as productions ramp up again, enabling them to create high-quality, easy-to-deliver content at a faster pace and lower risk to meet demand. QTF have an original twist and can be produced within a shorter production timeline, with lightweight crews, and at a high volume. It also means creating shows built around remote participation, archives and pre-taped elements.”
– Sophie Ferron, Media Ranch Founder, President & Executive Producer from Montreal
“REELZ is committed to doing its part to reduce the spread during this unprecedented crisis while continuing to serve our viewers and distribution partners. A new PSA now airing on REELZ features some familiar faces and several employees showing how we can all stay safe by staying home. By working together in our collective best interests, our industry, communities and country we’ll get through this and we’ll be stronger on the other side.”
Stan E. Hubbard, CEO of REELZ