1 00:00:06,320 --> 00:00:09,640 Speaker 1: Welcome to another episode of Strictly Business, the podcast in 2 00:00:09,640 --> 00:00:11,879 Speaker 1: which we talked to some of the brightest minds working 3 00:00:11,920 --> 00:00:16,160 Speaker 1: in media today. I'm Variety co editor in chief Andrew Wallenstein. 4 00:00:17,400 --> 00:00:20,159 Speaker 1: For many people, Red Bull is the energy drink that 5 00:00:20,200 --> 00:00:22,680 Speaker 1: gives you wings, but for the past ten years, the 6 00:00:22,720 --> 00:00:25,640 Speaker 1: beverage company has become a lot more than that, the 7 00:00:25,760 --> 00:00:29,960 Speaker 1: pioneering force in the worlds of branded entertainment and action sports. 8 00:00:30,680 --> 00:00:33,879 Speaker 1: That non carbonated component of the business is overseen by 9 00:00:33,920 --> 00:00:37,440 Speaker 1: today's guest, Garrett Meyer, who has served as CEO for 10 00:00:37,520 --> 00:00:42,280 Speaker 1: Red Bull Media House for the past two years. Thanks 11 00:00:42,280 --> 00:00:45,320 Speaker 1: for coming in, Garrett. Let's do a little level setting 12 00:00:45,320 --> 00:00:47,360 Speaker 1: for those who may not be familiar with Red Bull 13 00:00:47,400 --> 00:00:49,599 Speaker 1: in the media business, because as long as you've been 14 00:00:49,640 --> 00:00:52,400 Speaker 1: in the job, you've been pretty quiet and let the 15 00:00:52,440 --> 00:00:55,720 Speaker 1: brands work do the talking. Now it's your turn. Yes. 16 00:00:55,760 --> 00:00:58,680 Speaker 1: The Red Bull Media House over the last ten years 17 00:00:58,800 --> 00:01:01,000 Speaker 1: has been a drive of everything that we've been doing 18 00:01:01,120 --> 00:01:04,240 Speaker 1: on the content on the media side, both in support 19 00:01:04,400 --> 00:01:06,400 Speaker 1: of what we do on the brand side, but also 20 00:01:06,440 --> 00:01:09,320 Speaker 1: with a lot of the unbranded exercises. So during that 21 00:01:09,480 --> 00:01:12,720 Speaker 1: time we've created red Bull TV as a stone alone 22 00:01:12,800 --> 00:01:15,560 Speaker 1: app as well as an integrated experience red Bull dot 23 00:01:15,600 --> 00:01:18,760 Speaker 1: Com together with all the various content features that we've 24 00:01:18,800 --> 00:01:22,480 Speaker 1: had a cross video, whether that's music that is audio 25 00:01:22,560 --> 00:01:25,880 Speaker 1: in general, our podcast, but also our text and our video. 26 00:01:26,160 --> 00:01:30,080 Speaker 1: We're really much focusing on the editorial pieces around our events, 27 00:01:30,440 --> 00:01:33,240 Speaker 1: around our seven d plus athletes that we do, but 28 00:01:33,360 --> 00:01:36,039 Speaker 1: also all the inspiring and inspiring stories that we hear 29 00:01:36,040 --> 00:01:40,160 Speaker 1: in the world, whether that's in sports or culture, dance, music, etcetera. 30 00:01:40,440 --> 00:01:42,440 Speaker 1: So we're super excited that we're now at a point 31 00:01:42,680 --> 00:01:44,360 Speaker 1: we really feel what kind of can take it to 32 00:01:44,400 --> 00:01:47,240 Speaker 1: another level. And So you've been at this now for 33 00:01:47,280 --> 00:01:49,400 Speaker 1: the past few years, but the Red Bull has been 34 00:01:49,440 --> 00:01:53,600 Speaker 1: in entertainment for a lot longer than that. What did 35 00:01:53,640 --> 00:01:56,960 Speaker 1: you inherit two years ago and how has it changed 36 00:01:57,000 --> 00:01:59,840 Speaker 1: in your time in the top job. So when I 37 00:02:00,040 --> 00:02:02,320 Speaker 1: came to the job a couple of years ago, what 38 00:02:02,480 --> 00:02:05,080 Speaker 1: I found was a company, as you said, super strong 39 00:02:05,080 --> 00:02:08,400 Speaker 1: and Brandon Entertainment. We've done some really really good pieces 40 00:02:08,440 --> 00:02:12,400 Speaker 1: of content. Everybody remembers Stratus, Felix Bomb Gardener jumping from Space. 41 00:02:12,919 --> 00:02:15,600 Speaker 1: And I think we had gotten ourselves to a really, 42 00:02:15,600 --> 00:02:18,040 Speaker 1: really strong point where we had platforms that attracted a 43 00:02:18,120 --> 00:02:22,000 Speaker 1: sizeable audience. But now given where we are two thousand, seventeen, 44 00:02:22,080 --> 00:02:24,840 Speaker 1: eighteen and nineteen, media world, as you know and as 45 00:02:24,840 --> 00:02:28,280 Speaker 1: we all know, changing rapidly with an influx of content 46 00:02:28,560 --> 00:02:31,959 Speaker 1: investments that has reached absolute new heights, with an unsurpassed 47 00:02:31,960 --> 00:02:34,440 Speaker 1: amount of content that we're seeing out in the world 48 00:02:34,440 --> 00:02:37,320 Speaker 1: being consumed on multiple platforms. So for us, it was 49 00:02:37,360 --> 00:02:39,760 Speaker 1: really important to take it to the next level. Next 50 00:02:39,840 --> 00:02:42,880 Speaker 1: level for US means really still focusing on platforms that 51 00:02:42,960 --> 00:02:45,560 Speaker 1: we have, but they're really becoming much more audience centric. 52 00:02:45,919 --> 00:02:49,679 Speaker 1: Audience centric for US means finding audiences that kind of 53 00:02:49,720 --> 00:02:53,200 Speaker 1: find communities around the world or locally to kind of 54 00:02:53,200 --> 00:02:55,400 Speaker 1: get together. For us, obviously that has to do with 55 00:02:55,440 --> 00:02:57,360 Speaker 1: a lot of the course boards that were in, whether 56 00:02:57,400 --> 00:03:00,160 Speaker 1: that is surfing, whether is skateboarding, whether that's bike king, 57 00:03:00,440 --> 00:03:02,839 Speaker 1: but a lot has also to do with things were 58 00:03:02,880 --> 00:03:08,920 Speaker 1: not so relevant, so not so known with which is music, dance, arts, etcetera. 59 00:03:09,440 --> 00:03:12,320 Speaker 1: So for us, building an organization that is really focused 60 00:03:12,320 --> 00:03:15,160 Speaker 1: around these audiences and then speaking to these audiences with 61 00:03:15,200 --> 00:03:19,720 Speaker 1: relevant content, finding them where they actually live, whether that's 62 00:03:19,760 --> 00:03:22,640 Speaker 1: digitally or terrestrially, and then talk to them in a 63 00:03:22,720 --> 00:03:24,920 Speaker 1: tone that is native to kind of their community and 64 00:03:24,919 --> 00:03:27,520 Speaker 1: how they talk with each other. That is the relevancy 65 00:03:27,560 --> 00:03:30,560 Speaker 1: that we're trying to create to also then work through 66 00:03:30,600 --> 00:03:33,760 Speaker 1: what we've always believed in authenticity and what as we say, 67 00:03:33,840 --> 00:03:36,680 Speaker 1: giving wings to people and their ideas and so now 68 00:03:36,720 --> 00:03:39,960 Speaker 1: for the last two years, we've really worked on refocusing 69 00:03:40,000 --> 00:03:44,800 Speaker 1: around audience centric programming, audience centric content creation also not 70 00:03:44,960 --> 00:03:46,800 Speaker 1: just alone but also with a lot of the partners 71 00:03:46,800 --> 00:03:50,760 Speaker 1: set out there. And so people understand it when you're 72 00:03:50,760 --> 00:03:55,360 Speaker 1: talking about this sort of audience centricity. How is the 73 00:03:55,400 --> 00:03:59,360 Speaker 1: Red Bull media experience different today than it was a 74 00:03:59,440 --> 00:04:02,720 Speaker 1: few years You mentioned, for instance, partners, and I guess 75 00:04:02,720 --> 00:04:05,480 Speaker 1: you're doing a lot more of that. Yes, absolutely. I 76 00:04:05,520 --> 00:04:08,160 Speaker 1: think what really has changed is that what we consider 77 00:04:08,200 --> 00:04:10,800 Speaker 1: the Red Bull Media network has really expanded beyond our 78 00:04:10,840 --> 00:04:15,160 Speaker 1: own and managed platforms into other shared and distributed platforms. 79 00:04:15,400 --> 00:04:17,880 Speaker 1: If you look at our relationship with that's with YouTube, 80 00:04:17,960 --> 00:04:20,240 Speaker 1: or you look at our relationships with Twitch or other 81 00:04:20,800 --> 00:04:23,920 Speaker 1: publishers that are out there, we've gotten a lot deeper 82 00:04:23,960 --> 00:04:27,680 Speaker 1: in our relationship with traditional broadcasters. But even on our 83 00:04:27,720 --> 00:04:30,000 Speaker 1: feature film site, if you look at some of the 84 00:04:30,040 --> 00:04:32,839 Speaker 1: documentary releases that we've done over the last few years, 85 00:04:33,120 --> 00:04:36,479 Speaker 1: we've shouldn't seen much much deeper relationships and distribution and 86 00:04:36,560 --> 00:04:40,200 Speaker 1: theatrical releases. So overall we've just gotten much much broader 87 00:04:40,200 --> 00:04:42,280 Speaker 1: in the way we kind of consider our own world 88 00:04:42,279 --> 00:04:44,480 Speaker 1: of Red Bull and where our content lives, of our 89 00:04:44,560 --> 00:04:49,080 Speaker 1: audiences lives. You mentioned hundreds and hundreds of athletes give 90 00:04:49,160 --> 00:04:50,680 Speaker 1: us a sense of, you know, some of the big 91 00:04:50,760 --> 00:04:52,960 Speaker 1: names that we've heard of that are sort of in 92 00:04:53,000 --> 00:04:57,080 Speaker 1: the Red Bull camp. Well, I think that really depends 93 00:04:57,120 --> 00:04:59,279 Speaker 1: on we go. You know, we talk about so many 94 00:04:59,320 --> 00:05:02,400 Speaker 1: different disciplin lens, but you know, we have you know, 95 00:05:02,680 --> 00:05:06,080 Speaker 1: as we talked about relevancy last week, Lindsey Vonn who's 96 00:05:06,120 --> 00:05:08,920 Speaker 1: been with Red Both for such a long time unfortunately 97 00:05:09,240 --> 00:05:13,960 Speaker 1: announcer retirement. But we have max Va staff and in 98 00:05:14,080 --> 00:05:17,559 Speaker 1: Formula one obviously, we're working very closely with Anthony Davis 99 00:05:17,600 --> 00:05:21,560 Speaker 1: on their basketball side, and we have Marcel here show 100 00:05:21,640 --> 00:05:24,120 Speaker 1: For anyone who is now doing the winter season, especially 101 00:05:24,120 --> 00:05:27,000 Speaker 1: me coming from Austria as one of the premier ski 102 00:05:27,080 --> 00:05:30,159 Speaker 1: athletes out there, I think we can talk about a 103 00:05:30,279 --> 00:05:33,640 Speaker 1: number of athletes that we can point toof over the 104 00:05:33,720 --> 00:05:36,360 Speaker 1: years have provided so much success and so much joy 105 00:05:36,400 --> 00:05:38,479 Speaker 1: to the people out there, and really our role in 106 00:05:38,520 --> 00:05:40,960 Speaker 1: all of this is to just document all the successes 107 00:05:41,000 --> 00:05:43,719 Speaker 1: and everything that they've been doing, telling their stories out 108 00:05:43,800 --> 00:05:47,039 Speaker 1: to the world. And also your definition of sports probably 109 00:05:47,120 --> 00:05:50,320 Speaker 1: keeps expanding. The sports is now part of the mix. 110 00:05:50,800 --> 00:05:54,080 Speaker 1: Absolutely e sports. But as I also mentioned dancing, if 111 00:05:54,120 --> 00:05:56,520 Speaker 1: you look at the Global Dance Competition, you know, we're 112 00:05:56,600 --> 00:05:59,880 Speaker 1: very strong in any kind of urban sports. We host 113 00:06:00,000 --> 00:06:04,240 Speaker 1: every year the World Championship and break dancing, which has 114 00:06:04,279 --> 00:06:07,120 Speaker 1: been growing in popularity. That's the sport now, it's not 115 00:06:07,200 --> 00:06:08,839 Speaker 1: it's always been a sport, but it's been a sport 116 00:06:08,839 --> 00:06:12,040 Speaker 1: that actually has been growing in popularity significantly. And you know, 117 00:06:12,080 --> 00:06:15,240 Speaker 1: the athleticism that you see what the athletes are participating 118 00:06:15,279 --> 00:06:18,240 Speaker 1: in those has been huge. But yes, you're absolutely right. 119 00:06:18,440 --> 00:06:21,599 Speaker 1: If we're looking at the sports and professional gaming, we've 120 00:06:21,600 --> 00:06:25,200 Speaker 1: gotten ourselves into a number of different competitions with our 121 00:06:25,200 --> 00:06:28,080 Speaker 1: own teams, with some of our own events, and what 122 00:06:28,120 --> 00:06:31,040 Speaker 1: we're seeing is that, obviously, with that popularity that the 123 00:06:31,120 --> 00:06:34,760 Speaker 1: sports is experiencing right now, again we found another kind 124 00:06:34,760 --> 00:06:37,280 Speaker 1: of sports. But that being said, there's also a lot 125 00:06:37,320 --> 00:06:39,760 Speaker 1: of sports that have had relevancy over the last few 126 00:06:39,839 --> 00:06:42,440 Speaker 1: years that have now gotten mainstream attraction. I mean, just 127 00:06:42,440 --> 00:06:46,680 Speaker 1: look at Tokyo for next year their WebEx Olympics. We 128 00:06:46,800 --> 00:06:50,560 Speaker 1: have skateboarding being at it, you have surfing being at it, 129 00:06:50,600 --> 00:06:52,800 Speaker 1: you have bouldering being at it. I mean those are 130 00:06:52,839 --> 00:06:55,120 Speaker 1: all sports that we at Red Boats have been considered 131 00:06:55,160 --> 00:06:57,680 Speaker 1: court to what we do for many, many years. So 132 00:06:57,720 --> 00:07:00,839 Speaker 1: it's great to see that those athletes now their accomplishments 133 00:07:00,839 --> 00:07:03,960 Speaker 1: are actually being recognized on an international level, you know, 134 00:07:04,000 --> 00:07:06,680 Speaker 1: and obviously the Olympics are at the highest level that 135 00:07:06,720 --> 00:07:09,400 Speaker 1: you can compete at. So we're extremely proud to kind 136 00:07:09,440 --> 00:07:11,680 Speaker 1: of see, you know, that our athletes are not having 137 00:07:11,680 --> 00:07:13,800 Speaker 1: a chance to kind of prove themselves. I'm ashamed to 138 00:07:13,800 --> 00:07:18,560 Speaker 1: admit that boulder ring, is that rock climbing that last week, 139 00:07:19,240 --> 00:07:22,600 Speaker 1: that's exactly that's what everybody kind of does. It's amazing 140 00:07:22,600 --> 00:07:24,320 Speaker 1: when you actually kind of see it in personal what 141 00:07:24,320 --> 00:07:26,760 Speaker 1: what do what those people do? It's Uh, those athletes 142 00:07:26,760 --> 00:07:29,760 Speaker 1: are phenomenal in their accomplishments. Let's talk a bit about 143 00:07:29,760 --> 00:07:33,400 Speaker 1: branded entertainment because I think Red Bull really is unique 144 00:07:33,680 --> 00:07:36,760 Speaker 1: in when going back, you know, farther than you were 145 00:07:36,800 --> 00:07:40,800 Speaker 1: even at the company they have, Red Bull has gone 146 00:07:40,920 --> 00:07:44,680 Speaker 1: deeper into this than probably any other company out there. 147 00:07:45,040 --> 00:07:47,760 Speaker 1: I mentioned at the beginning it was kind of a pioneer. 148 00:07:48,520 --> 00:07:52,400 Speaker 1: Has the strategic approach changed, you know, it felt like 149 00:07:52,480 --> 00:07:54,680 Speaker 1: for a time and you mentioned the stratus jump some 150 00:07:54,800 --> 00:07:59,240 Speaker 1: years ago that you couldn't turn on a television and 151 00:07:59,320 --> 00:08:03,880 Speaker 1: watch any sort of actions were and not see that logo. Yeah. Uh, 152 00:08:03,920 --> 00:08:07,600 Speaker 1: the strategic approach actually hasn't changed that much. In the 153 00:08:07,640 --> 00:08:10,840 Speaker 1: beginning or thirty years ago, when the company was created, 154 00:08:11,120 --> 00:08:13,200 Speaker 1: it was a means to the end. It was something 155 00:08:13,240 --> 00:08:16,280 Speaker 1: about a product that nobody really understood. The energy during 156 00:08:16,320 --> 00:08:19,000 Speaker 1: this category was not really well defined, so it's hard 157 00:08:19,040 --> 00:08:22,480 Speaker 1: to communicate actually what the brand was about. But what 158 00:08:22,480 --> 00:08:25,000 Speaker 1: what our founder kind of believed right from the beginning 159 00:08:25,440 --> 00:08:28,400 Speaker 1: was that if you brought people together in communities and 160 00:08:28,480 --> 00:08:31,200 Speaker 1: in this case it was around events, bring people together 161 00:08:31,320 --> 00:08:33,760 Speaker 1: and get to see, you know, the accomplishments of people 162 00:08:33,800 --> 00:08:37,960 Speaker 1: what they can do, driven through maybe Red Bull, then 163 00:08:38,040 --> 00:08:40,680 Speaker 1: you can achieve on a utility basis. So kind of 164 00:08:40,679 --> 00:08:42,960 Speaker 1: you get the boots when you need it within an occasion, 165 00:08:42,960 --> 00:08:46,280 Speaker 1: whether you're studying, your working or you maybe partying um 166 00:08:46,360 --> 00:08:49,000 Speaker 1: and specifically in sports, that you have an opportunity to 167 00:08:49,160 --> 00:08:52,360 Speaker 1: kind of like can perform more and higher. So what 168 00:08:52,440 --> 00:08:54,640 Speaker 1: we did right from the beginning is captured these events, 169 00:08:54,679 --> 00:08:57,840 Speaker 1: capture these athletes, and nothing really has changed. What has 170 00:08:57,920 --> 00:08:59,800 Speaker 1: changed is that now there are a lot more brands 171 00:08:59,840 --> 00:09:02,680 Speaker 1: out there who are following, you know, the same path. 172 00:09:03,320 --> 00:09:06,880 Speaker 1: Traditional media as we know, it's all challenged, regardless of 173 00:09:06,920 --> 00:09:09,800 Speaker 1: the media that you're on, whether that's television, whether that's radio, 174 00:09:09,920 --> 00:09:13,679 Speaker 1: or that's magazines, newspapers. So there's a lot more companies 175 00:09:13,720 --> 00:09:15,920 Speaker 1: over the last eight years. And I don't know whether 176 00:09:15,920 --> 00:09:17,320 Speaker 1: I have the numbers all right, but I think over 177 00:09:17,360 --> 00:09:19,880 Speaker 1: the last eight years, the investment in brand entertainment has 178 00:09:19,920 --> 00:09:23,400 Speaker 1: more than doubled. Obviously very very much focused on video. 179 00:09:23,760 --> 00:09:26,080 Speaker 1: So now what we're seeing is we're not alone anymore, 180 00:09:26,160 --> 00:09:28,280 Speaker 1: kind of in the space that probably twenty thirty years 181 00:09:28,280 --> 00:09:30,839 Speaker 1: ago we still had a much more stronger voice in. 182 00:09:31,200 --> 00:09:33,160 Speaker 1: So for us, what is really important that we kind 183 00:09:33,160 --> 00:09:36,439 Speaker 1: of maintain the relevancy that we built, whether that is 184 00:09:36,480 --> 00:09:39,880 Speaker 1: through sports events or culture events. And what's good for 185 00:09:39,960 --> 00:09:42,440 Speaker 1: us to see is that our audiences, through the strength 186 00:09:42,520 --> 00:09:45,360 Speaker 1: of our stories and through the strength of our events 187 00:09:45,360 --> 00:09:48,120 Speaker 1: and athletes, has been kept growing. So the strategy, to 188 00:09:48,200 --> 00:09:51,079 Speaker 1: your question, hasn't really changed, but it has evolved and 189 00:09:51,120 --> 00:09:53,520 Speaker 1: it's gotten more complex also in the world. Whether it's 190 00:09:53,520 --> 00:09:57,040 Speaker 1: just a lot more content out there, what about your 191 00:09:57,120 --> 00:10:00,760 Speaker 1: relationship to the parent company. I'm wondering how that, if 192 00:10:00,840 --> 00:10:04,640 Speaker 1: at all, has changed. I'm wondering whether it's even necessary 193 00:10:04,720 --> 00:10:09,040 Speaker 1: for your division to be profitable. What are the expectations. 194 00:10:09,080 --> 00:10:11,800 Speaker 1: So the expectations are that we have a dual mandate. 195 00:10:11,840 --> 00:10:15,120 Speaker 1: You absolutely right. The media house sits separately from the beverage. 196 00:10:15,520 --> 00:10:18,679 Speaker 1: But what the one strong mandate is obviously to create 197 00:10:19,160 --> 00:10:22,280 Speaker 1: content around the stories of our athletes and our events. 198 00:10:22,320 --> 00:10:25,240 Speaker 1: That will never change. We now do over twelve hundred 199 00:10:25,320 --> 00:10:27,679 Speaker 1: events a year. We have, as I mentioned, seven d 200 00:10:27,840 --> 00:10:31,160 Speaker 1: fifty plus athletes, and that sounds expensive. Well, it's less 201 00:10:31,160 --> 00:10:33,080 Speaker 1: that it's about expensive. It's much about that they have 202 00:10:33,200 --> 00:10:35,840 Speaker 1: so many great stories to tell. I mean, our athletes 203 00:10:35,840 --> 00:10:39,080 Speaker 1: are just phenomenal individuals who are performing at the highest 204 00:10:39,120 --> 00:10:42,240 Speaker 1: level every day. And what we see now in this 205 00:10:42,280 --> 00:10:45,319 Speaker 1: world is that audiences around the world are much much 206 00:10:45,360 --> 00:10:48,760 Speaker 1: more interested about what the stories are behind. Of course 207 00:10:48,800 --> 00:10:51,319 Speaker 1: there's still interested in the results and in the competitions, 208 00:10:51,360 --> 00:10:54,719 Speaker 1: but really the narrative around this and so everybody these 209 00:10:54,800 --> 00:10:58,680 Speaker 1: days is talking about storytelling and narratives. But what we've 210 00:10:58,720 --> 00:11:00,920 Speaker 1: been seeing is that the access that we have to 211 00:11:01,080 --> 00:11:05,520 Speaker 1: those events athletes made fascinating stories. So yes, we are 212 00:11:05,559 --> 00:11:08,520 Speaker 1: creating more content than we've ever done before and that 213 00:11:08,679 --> 00:11:13,319 Speaker 1: and again in return, supports the brand. That being said, 214 00:11:13,360 --> 00:11:17,000 Speaker 1: we're also standalone media house that has the expectation to 215 00:11:17,120 --> 00:11:20,840 Speaker 1: perform and create content at the highest level and for 216 00:11:20,960 --> 00:11:27,160 Speaker 1: that will require the best writers, producers, uh and directors, 217 00:11:27,920 --> 00:11:31,400 Speaker 1: production partners, other students that we work with. And so 218 00:11:31,440 --> 00:11:33,439 Speaker 1: for us, it is really really important that we kind 219 00:11:33,440 --> 00:11:36,240 Speaker 1: of keep that quality up and in some cases that 220 00:11:36,400 --> 00:11:39,640 Speaker 1: not necessarily relates back to the brand. So there we go. 221 00:11:39,800 --> 00:11:41,920 Speaker 1: We create feature films. That's where we kind of go 222 00:11:42,000 --> 00:11:45,600 Speaker 1: out create serialized content. We're still in print media. We 223 00:11:45,720 --> 00:11:48,560 Speaker 1: have local print media that we're pursuing. Again for us, 224 00:11:48,640 --> 00:11:53,120 Speaker 1: localization it's really really important, and so building media capability 225 00:11:53,320 --> 00:11:56,320 Speaker 1: in the times of two thousand, two thousand and twenty, 226 00:11:56,360 --> 00:11:58,959 Speaker 1: where the world is changing rapidly and how people consume 227 00:11:59,400 --> 00:12:01,800 Speaker 1: is really important. So we do have those tool mandates 228 00:12:01,800 --> 00:12:04,680 Speaker 1: and we kind of working with them. On the profitability side, 229 00:12:05,320 --> 00:12:08,400 Speaker 1: we have a vast portfolio. We have everything from RepU 230 00:12:08,480 --> 00:12:11,520 Speaker 1: records and record music publishing, to red both films all 231 00:12:11,559 --> 00:12:14,440 Speaker 1: the way to our magazine and book publishing business. So 232 00:12:14,480 --> 00:12:18,160 Speaker 1: we look at all of them individually on a profitability basis. 233 00:12:18,440 --> 00:12:20,640 Speaker 1: But the big advantage that we have is we are 234 00:12:20,640 --> 00:12:23,920 Speaker 1: a private company, so we have the opportunity to invest, 235 00:12:23,960 --> 00:12:26,040 Speaker 1: we can try new things, we can be out there, 236 00:12:26,400 --> 00:12:28,880 Speaker 1: and we take a longer term view on the investment 237 00:12:28,880 --> 00:12:31,600 Speaker 1: as it comes back, including innovation because as we all 238 00:12:31,640 --> 00:12:34,640 Speaker 1: know of technology is exploding, so we're trying to see 239 00:12:34,679 --> 00:12:37,240 Speaker 1: how it can harness that both our production but also 240 00:12:37,720 --> 00:12:40,600 Speaker 1: in making our athletes being better athletes. Give me an 241 00:12:40,600 --> 00:12:43,440 Speaker 1: example that what's the way that you might be innovating 242 00:12:43,440 --> 00:12:46,240 Speaker 1: with athletes using technology. So one of the things we're 243 00:12:46,240 --> 00:12:49,200 Speaker 1: looking at right now is how can we use uh 244 00:12:49,559 --> 00:12:53,640 Speaker 1: mind controlled activity around gaming, not just to actually think 245 00:12:53,679 --> 00:12:55,880 Speaker 1: about how we make E sports athletes better, but how 246 00:12:55,920 --> 00:12:59,280 Speaker 1: can we also kind of improve mental responsiveness for physical 247 00:12:59,280 --> 00:13:02,720 Speaker 1: athletes Because us the games, everything that people do, everything 248 00:13:02,760 --> 00:13:05,400 Speaker 1: goes faster, the demands from the athletes are getting harder, 249 00:13:05,520 --> 00:13:07,920 Speaker 1: so physical on that, we have made a lot of 250 00:13:08,000 --> 00:13:12,680 Speaker 1: progress over the last decades on really improving physical fitness. Um, 251 00:13:12,800 --> 00:13:15,560 Speaker 1: so the idea about improving mental fitness is now also 252 00:13:15,640 --> 00:13:17,920 Speaker 1: being seen as a key ingredient, not just for the 253 00:13:18,000 --> 00:13:21,600 Speaker 1: sports athletes obviously who have to be extremely alert, but 254 00:13:21,760 --> 00:13:24,559 Speaker 1: also for other sports where if you can improve reaction 255 00:13:24,600 --> 00:13:28,120 Speaker 1: time exactly, then you are a much better position to 256 00:13:28,120 --> 00:13:30,679 Speaker 1: improve performance. So this is kind of where we're working 257 00:13:30,679 --> 00:13:33,880 Speaker 1: with our athletes, and that is something of great interest 258 00:13:33,920 --> 00:13:37,120 Speaker 1: to us. That's so interesting. So for instance, you mentioned, 259 00:13:37,360 --> 00:13:40,480 Speaker 1: you know, random example here Anthony Davis. You can sit 260 00:13:40,600 --> 00:13:43,040 Speaker 1: him down with a game that you will create and 261 00:13:43,120 --> 00:13:46,080 Speaker 1: a helmet or some sort of head apparatus in which 262 00:13:46,240 --> 00:13:49,680 Speaker 1: he will control the game without using his hands, and 263 00:13:49,720 --> 00:13:53,800 Speaker 1: this will help develop his agility. I mean, that's mind blowing, 264 00:13:54,000 --> 00:13:57,360 Speaker 1: so to speaking, to speak literally, well hopefully not literally, 265 00:13:57,400 --> 00:14:00,880 Speaker 1: not blowing mind but no, but you're right. I mean again, 266 00:14:00,920 --> 00:14:03,240 Speaker 1: everything is just a tool. Everything is just an experiment. 267 00:14:03,280 --> 00:14:05,480 Speaker 1: So and you know, and this is not where like finally, 268 00:14:05,480 --> 00:14:07,960 Speaker 1: I mean, somebody who's performing a level like like an 269 00:14:08,000 --> 00:14:11,800 Speaker 1: Anthony Davis obviously is already at the pinnacle of things. 270 00:14:11,840 --> 00:14:14,880 Speaker 1: But what we can see is whether their improvements. And again, 271 00:14:14,920 --> 00:14:17,120 Speaker 1: in some cases, when you see ski races which we 272 00:14:17,200 --> 00:14:20,680 Speaker 1: get decided among the top five within five hundreds of 273 00:14:20,760 --> 00:14:23,960 Speaker 1: a second, you know that every little bit counts. So 274 00:14:24,000 --> 00:14:26,240 Speaker 1: what we're just doing is trying to find other ways, 275 00:14:26,360 --> 00:14:29,320 Speaker 1: as we've done over the years, trying to improve the 276 00:14:29,440 --> 00:14:32,120 Speaker 1: environments in which athletes can perform for them to just 277 00:14:32,160 --> 00:14:34,360 Speaker 1: get better. So it's just one experiment. It might it 278 00:14:34,440 --> 00:14:38,200 Speaker 1: might not work, But to your point about profitability. As 279 00:14:38,240 --> 00:14:41,280 Speaker 1: the company that we are, we have committed ourselves to 280 00:14:41,400 --> 00:14:44,320 Speaker 1: give wings two people to get better in what they're 281 00:14:44,360 --> 00:14:47,160 Speaker 1: doing and their ideas. And this is just one example 282 00:14:47,200 --> 00:14:49,760 Speaker 1: where we think that, hey, maybe that's another piece and 283 00:14:49,760 --> 00:14:52,000 Speaker 1: if it's not, I'm going to try something else. And 284 00:14:52,080 --> 00:14:54,960 Speaker 1: that is our commitment back to the athlete community, but 285 00:14:55,000 --> 00:14:57,280 Speaker 1: also to the artist community out there, just to kind 286 00:14:57,280 --> 00:15:00,400 Speaker 1: of become better than where they are today, because that's 287 00:15:00,440 --> 00:15:04,720 Speaker 1: what they're striving for. Okay, Well, I mean you talked 288 00:15:04,720 --> 00:15:08,080 Speaker 1: about the many and I mean many different places Red 289 00:15:08,120 --> 00:15:11,960 Speaker 1: Bull is active today in terms of media and platforms. 290 00:15:12,000 --> 00:15:15,000 Speaker 1: Let's talk about a few. I mean, what strikes me 291 00:15:15,040 --> 00:15:17,640 Speaker 1: about on the film side is I've seen some of 292 00:15:17,640 --> 00:15:19,440 Speaker 1: the things you guys have done in recent years and 293 00:15:20,000 --> 00:15:22,280 Speaker 1: that doesn't even seem to have the Red Bull as 294 00:15:22,520 --> 00:15:25,760 Speaker 1: prominently branded as you might be, say on television. So 295 00:15:26,320 --> 00:15:29,400 Speaker 1: what's the point. Well, the point is two folds. First 296 00:15:29,440 --> 00:15:32,040 Speaker 1: of all, we're really starting with the story in mind. 297 00:15:32,320 --> 00:15:36,040 Speaker 1: And and with this story comes, especially these days, a 298 00:15:36,160 --> 00:15:40,880 Speaker 1: huge expectation what authenticity is concerned. Um. The audience is 299 00:15:40,920 --> 00:15:44,080 Speaker 1: out there, extreme, discriminating and they understand what they see. 300 00:15:44,160 --> 00:15:46,560 Speaker 1: So for us, it's important to tell the story first. 301 00:15:46,880 --> 00:15:49,840 Speaker 1: There are stories that are environments, that events where branded 302 00:15:49,920 --> 00:15:54,000 Speaker 1: environment absolutely makes sense. But if we tell an emotional story, 303 00:15:54,200 --> 00:15:57,120 Speaker 1: if we tell, for example, Rebecca Russia's story in The 304 00:15:57,120 --> 00:16:01,000 Speaker 1: Black Road last year, uh, a great great film won 305 00:16:01,040 --> 00:16:05,320 Speaker 1: an Emmy. Uh, it's an amazing story about commitment, it's 306 00:16:05,360 --> 00:16:08,120 Speaker 1: about endurance, it's about closure. I mean, there's so many 307 00:16:08,120 --> 00:16:10,600 Speaker 1: emotions in there. You have to allow stories like that 308 00:16:10,680 --> 00:16:14,359 Speaker 1: to breathe. And if there is a place for a brand, fantastic. 309 00:16:14,600 --> 00:16:17,040 Speaker 1: If not, we would like to put this story first. 310 00:16:17,280 --> 00:16:19,600 Speaker 1: What it doesn't return for us is that we get 311 00:16:19,640 --> 00:16:23,440 Speaker 1: credibility back also in the marketplace for creating credible stories. 312 00:16:23,480 --> 00:16:25,880 Speaker 1: And again by coming back to what it is we do. 313 00:16:26,520 --> 00:16:30,680 Speaker 1: We are not in the business of creating branded commercials. Yes, 314 00:16:30,760 --> 00:16:35,840 Speaker 1: we're branded product environment that we're operating, but we're first 315 00:16:35,880 --> 00:16:38,560 Speaker 1: and foremost like to tell our stories and if those 316 00:16:38,560 --> 00:16:41,840 Speaker 1: stories should be told, well, you need really really good 317 00:16:41,880 --> 00:16:44,520 Speaker 1: people to do that. And so for us, we really 318 00:16:44,600 --> 00:16:47,720 Speaker 1: kind of balance out when there's a place for the 319 00:16:47,720 --> 00:16:50,840 Speaker 1: brand to be involved and then where's a place where 320 00:16:50,840 --> 00:16:53,480 Speaker 1: maybe we just tell a story and let that story breathe. 321 00:16:53,640 --> 00:16:58,000 Speaker 1: And I think we've done a good balanced job and 322 00:16:58,040 --> 00:17:00,440 Speaker 1: trying to kind of move that forward. But we're looking 323 00:17:00,480 --> 00:17:03,880 Speaker 1: again further forward where we think that as a standalone 324 00:17:03,880 --> 00:17:06,560 Speaker 1: media house, we do have the opportunity now with the 325 00:17:06,600 --> 00:17:09,280 Speaker 1: credibility that we built in the marketplace, to actually also 326 00:17:09,320 --> 00:17:11,680 Speaker 1: take the next steps. So what might be the next 327 00:17:11,680 --> 00:17:14,199 Speaker 1: step in the film space for Red Bull? So the 328 00:17:14,280 --> 00:17:16,080 Speaker 1: next step would be, first of all, to do more 329 00:17:16,200 --> 00:17:18,480 Speaker 1: and what we've been doing, we've been extremely selective and 330 00:17:18,560 --> 00:17:20,840 Speaker 1: limited in the releases we've been doing. I think we 331 00:17:20,920 --> 00:17:23,200 Speaker 1: have the opportunity to tell more stories and be out 332 00:17:23,240 --> 00:17:28,879 Speaker 1: there not just on uh documentary features, but also serialized content. 333 00:17:29,160 --> 00:17:31,119 Speaker 1: And the other thing we're now looking at is actually 334 00:17:31,119 --> 00:17:34,440 Speaker 1: to get into a scripted feature development. What would that 335 00:17:34,520 --> 00:17:37,920 Speaker 1: look like? What? What? What? What? What exemplifies a Red 336 00:17:37,960 --> 00:17:41,720 Speaker 1: Bull scripted movie? Um, that's a really good question because 337 00:17:41,760 --> 00:17:44,000 Speaker 1: that's where in the development for right now but um, 338 00:17:44,040 --> 00:17:46,360 Speaker 1: you know, for us, anything that's aspirational. I mean if 339 00:17:46,359 --> 00:17:48,199 Speaker 1: you watch if you watch a film and it just 340 00:17:48,280 --> 00:17:50,760 Speaker 1: kind of makes your you know, it lifts your heart, 341 00:17:50,800 --> 00:17:53,160 Speaker 1: if lives your spirits. If it's just something about where 342 00:17:53,200 --> 00:17:56,880 Speaker 1: somebody overcomes something or achieve something that um, you wouldn't 343 00:17:56,880 --> 00:18:00,119 Speaker 1: really think about them maybe achieving. At the outset. There 344 00:18:00,119 --> 00:18:02,800 Speaker 1: have plenty of positive stories out there, and and we 345 00:18:02,920 --> 00:18:05,960 Speaker 1: live for those positive stories. We live with someone who's 346 00:18:06,040 --> 00:18:08,920 Speaker 1: out there, has an idea, goes for it and then 347 00:18:08,960 --> 00:18:12,000 Speaker 1: achieves that that goal. So I think there are stories 348 00:18:12,080 --> 00:18:15,439 Speaker 1: that we can get ourselves behind that are extremely in 349 00:18:15,440 --> 00:18:18,280 Speaker 1: the spirit of what we believe is red bull um 350 00:18:18,480 --> 00:18:20,360 Speaker 1: and fits to what we do. And if we can 351 00:18:20,359 --> 00:18:23,800 Speaker 1: tell those stories in a scripted environment, I think sometimes 352 00:18:23,800 --> 00:18:26,200 Speaker 1: that's a lot more impactful than our documentary side. So 353 00:18:26,359 --> 00:18:28,359 Speaker 1: so that is something we would like to kind of explore. 354 00:18:28,440 --> 00:18:30,960 Speaker 1: So currently we have a few things in development and 355 00:18:31,000 --> 00:18:32,879 Speaker 1: maybe in a year or so we can talk about 356 00:18:32,960 --> 00:18:35,040 Speaker 1: some of them being in production. And I want to 357 00:18:35,080 --> 00:18:37,520 Speaker 1: pry about specific titles. I'm just curious how you're going 358 00:18:37,600 --> 00:18:42,160 Speaker 1: about this. Are you now at festivals looking to buy acquisition? 359 00:18:42,240 --> 00:18:44,959 Speaker 1: Is is always an opportunity but I think ideally with 360 00:18:45,000 --> 00:18:48,040 Speaker 1: some of the ideas we have, finding co production partners, 361 00:18:48,080 --> 00:18:50,800 Speaker 1: finding studios who might kind of share our passion for 362 00:18:50,920 --> 00:18:53,800 Speaker 1: really really good stories, and then having that opportunity to 363 00:18:53,880 --> 00:18:57,879 Speaker 1: partner up and co produce, I think would be also 364 00:18:58,119 --> 00:19:00,240 Speaker 1: a pass with that would go down. I gotta mine 365 00:19:00,240 --> 00:19:02,840 Speaker 1: when you first said this, the first thought I had 366 00:19:03,040 --> 00:19:06,480 Speaker 1: was comparing read what red Bull might do to say 367 00:19:06,520 --> 00:19:10,120 Speaker 1: what Lego does or what Angry Birds does do like 368 00:19:10,320 --> 00:19:14,160 Speaker 1: an animated character that's a red bull or something with wings? 369 00:19:14,200 --> 00:19:16,639 Speaker 1: I mean, are you thinking anything like that or a 370 00:19:16,720 --> 00:19:20,280 Speaker 1: like off the reservation? I'm not sure that animated animation 371 00:19:20,320 --> 00:19:22,199 Speaker 1: would be the first step of what we're doing. I 372 00:19:22,240 --> 00:19:24,200 Speaker 1: think there are some real people out there who have 373 00:19:24,280 --> 00:19:29,880 Speaker 1: really provided inspiration and to the world and what's left done, 374 00:19:29,920 --> 00:19:31,280 Speaker 1: And I think if we kind of picked some of 375 00:19:31,320 --> 00:19:34,240 Speaker 1: those stories and tell those stories, I think that would 376 00:19:34,240 --> 00:19:36,399 Speaker 1: be the first step, right, But you know, you never know. 377 00:19:36,480 --> 00:19:39,280 Speaker 1: Animation has had a really good run over the last 378 00:19:39,320 --> 00:19:42,520 Speaker 1: few years. But I think we're gonna stay staying the 379 00:19:42,600 --> 00:19:45,800 Speaker 1: staying on the un the scripted side without animation first. 380 00:19:46,119 --> 00:19:48,360 Speaker 1: And does this tell us anything in terms of your 381 00:19:48,359 --> 00:19:52,720 Speaker 1: commitment to unscripted documentaries, I assume that's still very much 382 00:19:52,720 --> 00:19:56,359 Speaker 1: in play. Yes, absolutely, and h I'm always excited about 383 00:19:56,400 --> 00:19:59,240 Speaker 1: the documentary we do. I mean these documentaries have proven 384 00:19:59,800 --> 00:20:02,280 Speaker 1: not just ourselves because you know, obviously we love the 385 00:20:02,320 --> 00:20:04,439 Speaker 1: stories that we tell, that's what we do them. But 386 00:20:04,520 --> 00:20:06,159 Speaker 1: also I think if we're looking out to kind of 387 00:20:06,160 --> 00:20:08,280 Speaker 1: how the audience are responding and how the industry is 388 00:20:08,320 --> 00:20:10,560 Speaker 1: responding to it as well. So if we look at 389 00:20:10,600 --> 00:20:13,560 Speaker 1: the movie that we've had recently at the p g 390 00:20:13,720 --> 00:20:17,520 Speaker 1: A Awards nomination with The Dawn Wall has been a 391 00:20:17,520 --> 00:20:20,000 Speaker 1: tremendous success for us. I think it tells an extremely 392 00:20:20,000 --> 00:20:23,359 Speaker 1: inspiring story. Um. So for us to stay committed to 393 00:20:23,400 --> 00:20:25,960 Speaker 1: those kind of stories, absolutely, and we just want to 394 00:20:26,000 --> 00:20:29,640 Speaker 1: tell more stories. Um Also, as I mentioned, you know, serialized, 395 00:20:29,720 --> 00:20:32,000 Speaker 1: it's just a lot of opportunities tell stories that just 396 00:20:32,040 --> 00:20:33,680 Speaker 1: take a little bit more time that maybe kind of 397 00:20:33,720 --> 00:20:37,200 Speaker 1: explode the frame of of our and a half to 398 00:20:37,280 --> 00:20:40,920 Speaker 1: our feature. So for us, any kind of stories really 399 00:20:40,960 --> 00:20:44,119 Speaker 1: remain at the core of what we do. I guess 400 00:20:44,119 --> 00:20:46,560 Speaker 1: we should all be raising ourselves for a red Bull 401 00:20:46,600 --> 00:20:50,080 Speaker 1: oscar perhaps in the future. Uh, you know, if if 402 00:20:50,280 --> 00:20:52,480 Speaker 1: we were so lucky to get recognized for anything we do. 403 00:20:52,560 --> 00:20:54,359 Speaker 1: We were always appreciative, but I think it is a 404 00:20:54,440 --> 00:20:57,600 Speaker 1: story first that comes out there, and hopefully with either 405 00:20:57,640 --> 00:20:59,359 Speaker 1: alone or with some of the partners, we're gonna get 406 00:20:59,400 --> 00:21:01,840 Speaker 1: to tell some story. Is absolutely so let's also talk 407 00:21:01,880 --> 00:21:03,840 Speaker 1: about music. I know you guys have been in that 408 00:21:03,880 --> 00:21:08,760 Speaker 1: space for a while, but more recently the publishing business. 409 00:21:09,160 --> 00:21:15,040 Speaker 1: Why music publishing, Well, in my opinion, the music industry 410 00:21:15,080 --> 00:21:17,679 Speaker 1: is really based on the I p of those who write, 411 00:21:17,680 --> 00:21:21,199 Speaker 1: who produce, who compose, um. That is really the origin. 412 00:21:21,240 --> 00:21:23,920 Speaker 1: It's the nucleus of everything that creates music. Uh. I 413 00:21:23,960 --> 00:21:26,800 Speaker 1: don't want to diminish anything after talent successes of those 414 00:21:26,840 --> 00:21:29,560 Speaker 1: who actually perform, who sometimes are the same people are not. 415 00:21:29,960 --> 00:21:32,920 Speaker 1: But for us, as successful as we've been in some 416 00:21:33,000 --> 00:21:36,320 Speaker 1: of the performing arts on the recording side, I feel 417 00:21:36,359 --> 00:21:38,280 Speaker 1: like that with all the things that we do, have 418 00:21:38,320 --> 00:21:41,199 Speaker 1: a much greater opportunity to serve the community on the 419 00:21:41,200 --> 00:21:44,280 Speaker 1: writers and the producers side, um, very much as we 420 00:21:44,320 --> 00:21:46,680 Speaker 1: do it on the athletes side, where we have much 421 00:21:46,720 --> 00:21:50,240 Speaker 1: more experience. I think with the Redwood Music Festivals, the 422 00:21:50,280 --> 00:21:53,919 Speaker 1: Redwood Music Academy, the record music studios that we have 423 00:21:54,119 --> 00:21:56,600 Speaker 1: all over the world, we do have a really, really 424 00:21:56,600 --> 00:21:59,720 Speaker 1: great infrastructure where we can invite writers and producers to 425 00:21:59,760 --> 00:22:03,520 Speaker 1: come in to fulfill their dreams, their ideas um and 426 00:22:03,560 --> 00:22:06,840 Speaker 1: again that's all what we're always about, and there has 427 00:22:06,880 --> 00:22:09,040 Speaker 1: not really been a good reason why we haven't done 428 00:22:09,040 --> 00:22:12,439 Speaker 1: that more on the music publishing side. So now ramping 429 00:22:12,440 --> 00:22:15,399 Speaker 1: it up and kind of getting more artists in u 430 00:22:15,560 --> 00:22:18,159 Speaker 1: to Red Bull Um to be part of our family 431 00:22:18,240 --> 00:22:20,680 Speaker 1: part of that infrastructure, I think will provide a really 432 00:22:20,760 --> 00:22:23,159 Speaker 1: great opportunity over the next few years to have some 433 00:22:23,320 --> 00:22:26,720 Speaker 1: really good music kind of coming out of those who 434 00:22:26,800 --> 00:22:31,120 Speaker 1: are signing with us on a local level. And I mean, 435 00:22:31,400 --> 00:22:34,800 Speaker 1: are their ambitions in terms of other parts of the 436 00:22:34,880 --> 00:22:38,399 Speaker 1: music business that you're looking to get into. Well, Actually, 437 00:22:38,480 --> 00:22:41,119 Speaker 1: as as as I started alluding to, we already a 438 00:22:41,119 --> 00:22:43,760 Speaker 1: lot of parts of the We we do our music 439 00:22:43,800 --> 00:22:47,560 Speaker 1: festivals around the world. We have an educational music program 440 00:22:47,560 --> 00:22:50,000 Speaker 1: that we've been pursuing for the last fifteen twenty years. 441 00:22:50,280 --> 00:22:52,000 Speaker 1: We've had to Red Bull Records for a while, we 442 00:22:52,040 --> 00:22:54,560 Speaker 1: have Red Bulk Music Publishing for a while. We have 443 00:22:54,640 --> 00:22:57,720 Speaker 1: a music portfolio company, and we create music content. Also, 444 00:22:57,760 --> 00:23:00,560 Speaker 1: again back to the documentary piece, we've done featured documentaries 445 00:23:00,600 --> 00:23:05,120 Speaker 1: about the artists and musicians. Um so we've already been 446 00:23:05,320 --> 00:23:09,040 Speaker 1: pretty holistically present within the music industry, but I do 447 00:23:09,119 --> 00:23:11,520 Speaker 1: believe that we haven't really putting all the pieces together 448 00:23:11,560 --> 00:23:13,800 Speaker 1: to grow our relevance in there, and I think that 449 00:23:13,960 --> 00:23:16,359 Speaker 1: was what we have to offer. It really provides a 450 00:23:16,359 --> 00:23:20,240 Speaker 1: great opportunity for for young inspiring artists who out there again. 451 00:23:20,440 --> 00:23:22,800 Speaker 1: We will always start with those who are still looking 452 00:23:22,840 --> 00:23:24,879 Speaker 1: to find their wings a little bit like the people 453 00:23:24,960 --> 00:23:28,560 Speaker 1: who who are nornestly talented. And we've seen enough talent 454 00:23:28,600 --> 00:23:30,880 Speaker 1: shows out there on television over the last few years 455 00:23:30,920 --> 00:23:33,639 Speaker 1: to know that there's amazing talent out there, and we 456 00:23:33,720 --> 00:23:35,520 Speaker 1: just want to have our part and kind of bring 457 00:23:35,600 --> 00:23:38,960 Speaker 1: some of that talent um to shine. So, you know, 458 00:23:39,000 --> 00:23:43,960 Speaker 1: we've talked about video and film and music. The thing though, 459 00:23:44,000 --> 00:23:46,920 Speaker 1: that strikes me when I think about my own impression 460 00:23:47,320 --> 00:23:49,880 Speaker 1: of Red bull and where I where I feel it's 461 00:23:49,920 --> 00:23:53,600 Speaker 1: impact most social media, and I would imagine that also 462 00:23:53,720 --> 00:23:56,720 Speaker 1: drives a lot of the other momentum in some of 463 00:23:56,720 --> 00:24:00,040 Speaker 1: these other parts of the business. Red Bulls built a 464 00:24:00,080 --> 00:24:05,480 Speaker 1: pretty significant footprint in social media. How did it get there? 465 00:24:05,520 --> 00:24:09,080 Speaker 1: Because that's not easy to do, especially because essentially you 466 00:24:09,200 --> 00:24:13,760 Speaker 1: are a beverage brand. First and foremost. Yeah, uh, it's 467 00:24:13,840 --> 00:24:16,600 Speaker 1: it's a very good point. I think the reason that 468 00:24:16,640 --> 00:24:19,560 Speaker 1: we had the opportunity to build a social footprint again 469 00:24:19,640 --> 00:24:22,320 Speaker 1: goes back to the enormous talent that we're just surrounded with. 470 00:24:22,880 --> 00:24:24,920 Speaker 1: I think if we would put the brand first, which 471 00:24:24,920 --> 00:24:26,639 Speaker 1: we are not, I think it would have been a 472 00:24:26,720 --> 00:24:29,000 Speaker 1: much very different story. I also don't think it would 473 00:24:29,000 --> 00:24:32,440 Speaker 1: have been as universally accepted. Um. So for us, it's 474 00:24:32,480 --> 00:24:35,280 Speaker 1: not about putting the brand first at all. But if 475 00:24:35,280 --> 00:24:38,000 Speaker 1: you do put the athletes and their accomplishments, if you 476 00:24:38,040 --> 00:24:41,280 Speaker 1: do put the events and and and the uniqueness of 477 00:24:41,280 --> 00:24:43,560 Speaker 1: the events that we do around the world, and then 478 00:24:43,600 --> 00:24:45,840 Speaker 1: if you take the stories that kind of combine all 479 00:24:45,880 --> 00:24:48,200 Speaker 1: of those and you allow those stories to put forward, 480 00:24:48,720 --> 00:24:51,840 Speaker 1: you know, you get a much much just response out 481 00:24:51,840 --> 00:24:54,919 Speaker 1: there in the social world. Um and again even socialist 482 00:24:55,000 --> 00:24:58,760 Speaker 1: highly you know, uh, ambiguous now right, it's not any 483 00:24:58,800 --> 00:25:01,439 Speaker 1: more one channel, it's multip channels. And how you communicate 484 00:25:01,480 --> 00:25:04,000 Speaker 1: through those channels. And if you take the stories and 485 00:25:04,040 --> 00:25:06,840 Speaker 1: you make them appropriate to the audience that are out there, 486 00:25:06,840 --> 00:25:09,399 Speaker 1: and you let the stories tell, and if you have 487 00:25:09,480 --> 00:25:12,879 Speaker 1: the athletes or the artists tell their stories and you 488 00:25:12,920 --> 00:25:15,280 Speaker 1: give them a platform for expression. I mean, for us, 489 00:25:15,560 --> 00:25:18,040 Speaker 1: the greatest thing we can do is use everything that 490 00:25:18,119 --> 00:25:21,600 Speaker 1: we have from an asset and infrastructure perspective and make 491 00:25:21,680 --> 00:25:24,440 Speaker 1: them a platform for expression for those who are part 492 00:25:24,480 --> 00:25:27,520 Speaker 1: of the family. And then you really really see how 493 00:25:27,560 --> 00:25:29,439 Speaker 1: people respond because they don't want to hear the red 494 00:25:29,480 --> 00:25:31,399 Speaker 1: bull stories, but they want to hear is the story 495 00:25:31,600 --> 00:25:33,840 Speaker 1: of the athletes and of the events and the things 496 00:25:33,840 --> 00:25:36,320 Speaker 1: that are happening out there. And so we're providing a 497 00:25:36,359 --> 00:25:39,400 Speaker 1: lot of freedom to everyone to just tell their stories. 498 00:25:39,720 --> 00:25:41,920 Speaker 1: And I think the more authentic you are about that 499 00:25:42,000 --> 00:25:43,840 Speaker 1: where people on the other side and they're like, well, 500 00:25:43,880 --> 00:25:46,520 Speaker 1: this feels not authentic, it doesn't feel real, et cetera. 501 00:25:47,000 --> 00:25:49,280 Speaker 1: The more you do this and then have people tell 502 00:25:49,359 --> 00:25:52,200 Speaker 1: each other the stories, the more successful you are in 503 00:25:52,320 --> 00:25:54,919 Speaker 1: social And so we're extremely lucky that we're in a 504 00:25:54,920 --> 00:25:57,080 Speaker 1: position where we have all these athletes, we have all 505 00:25:57,119 --> 00:26:00,400 Speaker 1: these influences who are telling with passion. There are stories, 506 00:26:00,880 --> 00:26:03,320 Speaker 1: and you know, we're just you know, lucky that we're 507 00:26:03,320 --> 00:26:05,400 Speaker 1: in a position to support them and telling those stories. 508 00:26:06,359 --> 00:26:10,520 Speaker 1: So is there anything here? I mean, it's funny because 509 00:26:10,520 --> 00:26:13,000 Speaker 1: we've covered so much ground here, it's hard for me 510 00:26:13,080 --> 00:26:15,359 Speaker 1: to say, well, what's next? What else is there to do? 511 00:26:15,400 --> 00:26:18,760 Speaker 1: Because it feels like you're going in so many different directions, 512 00:26:18,760 --> 00:26:22,280 Speaker 1: But there are there things that and beyond that we 513 00:26:22,280 --> 00:26:25,720 Speaker 1: should be looking at. Well, I think there's a lot 514 00:26:25,760 --> 00:26:28,800 Speaker 1: more to do. The world is changing so so quickly. Um. 515 00:26:28,840 --> 00:26:31,560 Speaker 1: I mean, if we would have had this conversation a 516 00:26:31,640 --> 00:26:33,640 Speaker 1: year and a half ago and you would say, hey, 517 00:26:33,680 --> 00:26:36,000 Speaker 1: what's what's what's ahead? What do you think is happening? 518 00:26:36,400 --> 00:26:38,080 Speaker 1: You know, we could have talked about a million things, 519 00:26:38,160 --> 00:26:42,040 Speaker 1: but probably you know, um, having formed a new relationship 520 00:26:42,040 --> 00:26:45,159 Speaker 1: with Ninja, who's you know, one of the top not 521 00:26:45,359 --> 00:26:48,399 Speaker 1: the top Fortnite play out there, and even fortnitely two 522 00:26:48,480 --> 00:26:50,400 Speaker 1: years ago, we would have not had a conversation about 523 00:26:50,440 --> 00:26:52,080 Speaker 1: it because it wouldn't have even existed. Now it's the 524 00:26:52,160 --> 00:26:54,600 Speaker 1: largest game in the world. And now if we see 525 00:26:54,600 --> 00:26:58,040 Speaker 1: the influence that someone like Ninja has also as part 526 00:26:58,040 --> 00:27:02,160 Speaker 1: of being part of full Is, it's just something that 527 00:27:03,000 --> 00:27:05,879 Speaker 1: it's not something we could forecast. So for us, we 528 00:27:06,000 --> 00:27:08,240 Speaker 1: do look proactively and how we can do all these 529 00:27:08,240 --> 00:27:10,320 Speaker 1: things that we do, our events, our athletes, how we 530 00:27:10,359 --> 00:27:12,160 Speaker 1: can do all of that better. Do we get into 531 00:27:12,280 --> 00:27:14,520 Speaker 1: other sports or do we go deeper in some sports. 532 00:27:14,520 --> 00:27:17,280 Speaker 1: I mean for us, again, we talked about the Olympics 533 00:27:17,320 --> 00:27:21,000 Speaker 1: for next year. Three versus three basketball, just take that 534 00:27:21,000 --> 00:27:24,160 Speaker 1: that's a very different animal, despite the fact that basketball 535 00:27:24,200 --> 00:27:25,879 Speaker 1: has been in the Olympics stuff for quite a while. 536 00:27:26,359 --> 00:27:28,800 Speaker 1: I think we have great opportunities kind of see and 537 00:27:28,880 --> 00:27:30,840 Speaker 1: the you know, the role we can play. I mean again, 538 00:27:30,960 --> 00:27:33,639 Speaker 1: three verses three is one of the old man urban 539 00:27:33,680 --> 00:27:36,160 Speaker 1: sports that we've had that we've been involved in, very 540 00:27:36,200 --> 00:27:38,960 Speaker 1: much like skateboarding and others. So how can we make 541 00:27:38,960 --> 00:27:42,000 Speaker 1: sure that our athletes will have the right opportunities so 542 00:27:42,119 --> 00:27:44,240 Speaker 1: we will continue to do the things that we're doing. 543 00:27:44,800 --> 00:27:47,280 Speaker 1: I think we're really going to in nineteen and twenty 544 00:27:47,280 --> 00:27:50,560 Speaker 1: focus on the audiences that are out there and what 545 00:27:50,640 --> 00:27:53,040 Speaker 1: they want to hear, what they want to see, how 546 00:27:53,119 --> 00:27:55,439 Speaker 1: they want to engage with us. I mean, relevancy and 547 00:27:55,480 --> 00:27:58,199 Speaker 1: engagement is the new currency, and so for us, it 548 00:27:58,320 --> 00:28:00,720 Speaker 1: is about how we can enhance that in any opportunity 549 00:28:00,840 --> 00:28:03,240 Speaker 1: comes to us, either directly because we might have the 550 00:28:03,280 --> 00:28:06,080 Speaker 1: idea of some people and and uh from the athletes, 551 00:28:06,119 --> 00:28:08,600 Speaker 1: I might have the ideas, but also our partners. You know, 552 00:28:08,600 --> 00:28:10,960 Speaker 1: if partners come to us or people have ideas out 553 00:28:10,960 --> 00:28:13,119 Speaker 1: there and say hey, I have an idea. Can you 554 00:28:13,119 --> 00:28:15,520 Speaker 1: help me kind of maybe give this idea wings? Can 555 00:28:15,560 --> 00:28:18,840 Speaker 1: we do this together? Can we co produce? Can co create? Um? 556 00:28:18,960 --> 00:28:21,480 Speaker 1: That is what excites me. What's happening in n I 557 00:28:21,520 --> 00:28:24,679 Speaker 1: think creativity is at an ultimate high. People see that 558 00:28:24,680 --> 00:28:28,639 Speaker 1: they have enormous opportunity out there to express how they feel, 559 00:28:28,680 --> 00:28:30,760 Speaker 1: what they want to do, the stories that they have, 560 00:28:31,200 --> 00:28:33,159 Speaker 1: and if we can just play a small part in that, 561 00:28:33,240 --> 00:28:34,760 Speaker 1: I think, you know, we're in a really good place. 562 00:28:34,840 --> 00:28:37,040 Speaker 1: We don't have a lot of fun time doing. We're 563 00:28:37,040 --> 00:28:39,640 Speaker 1: all looking forward to seeing what Red Bull does in 564 00:28:40,480 --> 00:28:43,040 Speaker 1: and beyond. Garrett, thanks for coming in and talking to me. Oh, 565 00:28:43,080 --> 00:28:45,200 Speaker 1: thank you so much for having me and much appreciated. 566 00:28:48,040 --> 00:28:51,280 Speaker 1: This has been another episode of Strictly Business. Tune in 567 00:28:51,360 --> 00:28:55,360 Speaker 1: next week for another helping, acintillating conversation with media movers 568 00:28:55,360 --> 00:28:58,000 Speaker 1: and shakers, and please make sure you subscribe to the 569 00:28:58,040 --> 00:29:00,520 Speaker 1: podcast to hear future for songs.