1 00:00:06,400 --> 00:00:09,920 Speaker 1: Welcome to another episode of Strictly Business, the podcast in 2 00:00:09,960 --> 00:00:12,120 Speaker 1: which we talked with some of the brightest minds working 3 00:00:12,160 --> 00:00:17,279 Speaker 1: in media today. I'm Andrew Wallenstein with Variety Intelligence Platform. 4 00:00:17,280 --> 00:00:19,960 Speaker 1: This week I bring you excerpts of a panel discussion 5 00:00:19,960 --> 00:00:23,960 Speaker 1: I just had with executives from NBC, Universal, Orner Media, Spotify, 6 00:00:24,120 --> 00:00:27,800 Speaker 1: and PwC. What right now is topic A for the 7 00:00:27,920 --> 00:00:31,600 Speaker 1: entertainment industry How the business is absorbing the impact of 8 00:00:31,720 --> 00:00:35,720 Speaker 1: COVID nineteen. The discussion was featured in the Variety Screening 9 00:00:35,800 --> 00:00:41,000 Speaker 1: Room webinar. Take a listen. Welcome everyone to a Variety's 10 00:00:41,159 --> 00:00:45,560 Speaker 1: first ever streaming room. I'm Andrew Wallenstein, President of Variety 11 00:00:45,600 --> 00:00:48,920 Speaker 1: Intelligence Platform. It's a new venture focused on digging deep 12 00:00:48,960 --> 00:00:51,240 Speaker 1: into the issues that matter most to the media business. 13 00:00:51,320 --> 00:00:53,479 Speaker 1: You can check it out at Variety dot com, slash 14 00:00:53,560 --> 00:00:56,320 Speaker 1: v i p. Thanks to all of you for streaming 15 00:00:56,320 --> 00:00:58,600 Speaker 1: in from your homes today. We may not be able 16 00:00:58,600 --> 00:01:01,000 Speaker 1: to gather together. This is the next best thing. I 17 00:01:01,040 --> 00:01:03,400 Speaker 1: think of it as a virtual version of a Variety 18 00:01:03,480 --> 00:01:06,080 Speaker 1: Summit panel. Before we get started, I want to say 19 00:01:06,080 --> 00:01:08,960 Speaker 1: that we'd Avariety understand there are much more important issues 20 00:01:08,959 --> 00:01:10,440 Speaker 1: in the world right now. When it comes to the 21 00:01:10,480 --> 00:01:14,679 Speaker 1: coronavirus and it's impact on the entertainment business. But I 22 00:01:14,680 --> 00:01:17,080 Speaker 1: think we also know that the impact this crisis will 23 00:01:17,080 --> 00:01:21,560 Speaker 1: have on our industry is profound worth some conversation. I've 24 00:01:21,600 --> 00:01:24,280 Speaker 1: got a group of great panelists virtually gathered to talk 25 00:01:24,319 --> 00:01:27,200 Speaker 1: about the impact it's already having on their own businesses 26 00:01:27,240 --> 00:01:30,959 Speaker 1: and how they're adapting. So let's meet our panelists. Greg 27 00:01:31,000 --> 00:01:36,440 Speaker 1: Boyer is the Partner for Technology, Media and Tell Telecommunications 28 00:01:36,440 --> 00:01:40,520 Speaker 1: at p w C. Josh Feldman is Executive vice President 29 00:01:40,560 --> 00:01:43,920 Speaker 1: of Head of Marketing and Advertising Creative at NBC Universal. 30 00:01:44,680 --> 00:01:47,360 Speaker 1: Julie Clark is the global head of ad Revenue in 31 00:01:47,840 --> 00:01:51,960 Speaker 1: Innovation at Spotify. And Seaun Kisker is the e v 32 00:01:52,120 --> 00:01:56,000 Speaker 1: P and Chief Strategy Officer for Warner Media is Direct 33 00:01:56,040 --> 00:01:59,120 Speaker 1: to Consumer division. Thanks to you all for being with 34 00:01:59,160 --> 00:02:03,000 Speaker 1: me today. Um, Sean, let's start with you, and this 35 00:02:03,040 --> 00:02:04,280 Speaker 1: is a question I want to hear from each of 36 00:02:04,360 --> 00:02:06,919 Speaker 1: our panelists on what are the sum of the ways 37 00:02:07,000 --> 00:02:10,320 Speaker 1: you're seeing your your business change in the midst of 38 00:02:10,320 --> 00:02:13,840 Speaker 1: this crisis. Yeah, I mean, I would say obviously engagement 39 00:02:13,960 --> 00:02:18,600 Speaker 1: is way up and it's hard to sort of start out. 40 00:02:18,600 --> 00:02:20,480 Speaker 1: You hit it, you hit the right note there, which 41 00:02:20,520 --> 00:02:22,919 Speaker 1: is it's hard to sort of look at look at 42 00:02:23,120 --> 00:02:24,639 Speaker 1: something like that, which is a bit of a tail 43 00:02:24,680 --> 00:02:28,280 Speaker 1: wind for us in the broader context, and get particularly 44 00:02:28,320 --> 00:02:30,320 Speaker 1: excited about it. But the when when we look at 45 00:02:30,320 --> 00:02:34,160 Speaker 1: the constraints people have, consumption is way up. People are 46 00:02:34,639 --> 00:02:37,480 Speaker 1: consuming more media according to report, I just saw if 47 00:02:37,480 --> 00:02:40,320 Speaker 1: you want per center watching more shows and films on 48 00:02:40,400 --> 00:02:43,240 Speaker 1: streaming service, so and we've seen that in HBO now 49 00:02:43,280 --> 00:02:45,919 Speaker 1: as well so net Net. From a contextual point of view, 50 00:02:46,840 --> 00:02:49,160 Speaker 1: it's a it's a good time to be thinking about 51 00:02:49,240 --> 00:02:53,000 Speaker 1: providing solutions to people who are stuck at home and 52 00:02:53,240 --> 00:02:55,720 Speaker 1: at at this point don't have very many options. So 53 00:02:56,080 --> 00:03:00,320 Speaker 1: it's from a from a product point of view, it's 54 00:03:00,360 --> 00:03:02,320 Speaker 1: been it's probably created a bit of a tail in, 55 00:03:02,440 --> 00:03:05,040 Speaker 1: but obviously they're a whole hosts of challenges that go 56 00:03:05,080 --> 00:03:08,680 Speaker 1: along with that. Julie, what about yourself, Uh, I imagine 57 00:03:08,720 --> 00:03:12,280 Speaker 1: there's some challenges your way too. Yeah. Absolutely, I mean 58 00:03:12,320 --> 00:03:16,000 Speaker 1: I think that from the perspective of like Spotify, culture 59 00:03:16,080 --> 00:03:18,960 Speaker 1: has always been a huge part of the business and 60 00:03:19,160 --> 00:03:23,360 Speaker 1: context in which our marketing partners are reaching our listeners 61 00:03:23,680 --> 00:03:27,560 Speaker 1: is always a paramount importance, and now with cultural moments 62 00:03:27,639 --> 00:03:31,600 Speaker 1: that are happening in the ecosystem. It's just really important 63 00:03:31,639 --> 00:03:34,679 Speaker 1: that we are making sure that we're being extremely thoughtful 64 00:03:34,760 --> 00:03:39,320 Speaker 1: about how we are approaching that listener experience because how 65 00:03:39,360 --> 00:03:42,080 Speaker 1: people are listening, when they're listening, and what they're listening 66 00:03:42,080 --> 00:03:44,800 Speaker 1: to is changing. So it's made us really have to 67 00:03:44,880 --> 00:03:47,839 Speaker 1: adapt to um that environment and make sure that we're 68 00:03:47,880 --> 00:03:51,120 Speaker 1: extremely authentic to the overall experience. Well, I definitely want 69 00:03:51,120 --> 00:03:52,720 Speaker 1: to hear more from you later on what kind of 70 00:03:52,720 --> 00:03:55,880 Speaker 1: trends you're seeing its Spotify in terms of audience patterns. 71 00:03:55,920 --> 00:03:57,920 Speaker 1: But I want to go over to Josh at ends 72 00:03:58,040 --> 00:04:02,960 Speaker 1: Universal and the advertising side. Uh, how has this crisis 73 00:04:03,000 --> 00:04:06,040 Speaker 1: impacted you in your business? Yeah, you know, so we're 74 00:04:06,040 --> 00:04:08,960 Speaker 1: on our fourth week of remote work at this point, so, 75 00:04:09,080 --> 00:04:11,680 Speaker 1: you know, they changes that have really come that have 76 00:04:11,720 --> 00:04:14,320 Speaker 1: been most interesting to me is how we as a 77 00:04:14,480 --> 00:04:17,240 Speaker 1: division and a group are really adapting to this. You know, 78 00:04:17,279 --> 00:04:21,320 Speaker 1: we've always been a you know, people first, human first company, 79 00:04:21,360 --> 00:04:24,440 Speaker 1: like all of the other panelist companies are here, and 80 00:04:24,480 --> 00:04:27,480 Speaker 1: how do you keep that momentum alive as we're working 81 00:04:27,520 --> 00:04:32,080 Speaker 1: in a work from home scenario. So, um, what we're 82 00:04:32,120 --> 00:04:35,520 Speaker 1: doing right now is we've been having daily phone calls 83 00:04:36,080 --> 00:04:40,239 Speaker 1: um for our entire division, which is like twelve hundred people, 84 00:04:40,640 --> 00:04:44,640 Speaker 1: where we're able to keep ourselves up and going uh 85 00:04:44,680 --> 00:04:48,000 Speaker 1: and having daily phone calls all day long to keep 86 00:04:48,080 --> 00:04:50,599 Speaker 1: in touch with each other. And that's been really really amazing, 87 00:04:50,640 --> 00:04:53,200 Speaker 1: because when you work for a company my size and 88 00:04:53,440 --> 00:04:57,200 Speaker 1: you can't really share information in a timely manner normally. 89 00:04:57,480 --> 00:04:59,760 Speaker 1: What we've found is actually in our work from home scenario, 90 00:05:00,000 --> 00:05:03,200 Speaker 1: we're sharing information in real time so much better than 91 00:05:03,200 --> 00:05:06,120 Speaker 1: we ever have before. And we've tried to really humanize 92 00:05:06,160 --> 00:05:08,960 Speaker 1: those events as well. We start every single meeting by 93 00:05:09,000 --> 00:05:12,520 Speaker 1: recognizing heroes, whether it's from the medical profession or first 94 00:05:12,520 --> 00:05:16,840 Speaker 1: responders that are close to employees of our company, and 95 00:05:16,920 --> 00:05:19,320 Speaker 1: really taking the time to recognize those books. So it's 96 00:05:19,320 --> 00:05:22,080 Speaker 1: been become a really human element of what we do, 97 00:05:22,240 --> 00:05:24,680 Speaker 1: but it's also been able to share information in real time. 98 00:05:25,839 --> 00:05:30,080 Speaker 1: So moving on, wanting to get to you know, as 99 00:05:30,160 --> 00:05:34,640 Speaker 1: stark as this situation is, as you were operating, you know, Julie, 100 00:05:34,640 --> 00:05:36,640 Speaker 1: going back to you, was it the kind of thing 101 00:05:36,640 --> 00:05:39,479 Speaker 1: where you were operating out of a playbook and now 102 00:05:39,520 --> 00:05:41,520 Speaker 1: you have to sort of throw that out and operate 103 00:05:41,560 --> 00:05:44,200 Speaker 1: in the whole different way, you know, it's not that 104 00:05:44,320 --> 00:05:47,280 Speaker 1: everything is thrown out. I think that, you know, what 105 00:05:47,279 --> 00:05:49,880 Speaker 1: we're really doing is making sure that we're consulting our 106 00:05:49,920 --> 00:05:53,240 Speaker 1: partners UM and that it's really opening up an opportunity 107 00:05:53,320 --> 00:05:56,320 Speaker 1: for creatively and we co operate, you know, creatively working 108 00:05:56,360 --> 00:06:00,279 Speaker 1: together as a team and cooperating in different ways. UM. 109 00:06:00,320 --> 00:06:02,719 Speaker 1: I think that you know what Josh was talking about, 110 00:06:02,760 --> 00:06:05,520 Speaker 1: you know, having that collective and making sure that we're 111 00:06:05,520 --> 00:06:11,280 Speaker 1: communicating appropriately from a playbook internally and then externally. It's really, um, 112 00:06:11,320 --> 00:06:13,360 Speaker 1: you know a lot of the things that were priorities 113 00:06:13,360 --> 00:06:16,880 Speaker 1: before our priorities now, you know, making sure that we're 114 00:06:16,920 --> 00:06:20,279 Speaker 1: you know, at the forefront of podcast content creation, making 115 00:06:20,279 --> 00:06:23,840 Speaker 1: sure the creators are a primary UM focus for us, 116 00:06:24,000 --> 00:06:27,680 Speaker 1: and then making sure, um that we're having thoughtful engagement 117 00:06:27,720 --> 00:06:31,120 Speaker 1: with our UM listeners in the right way. So have 118 00:06:31,279 --> 00:06:35,360 Speaker 1: we seen the trends change and how we're having those conversations. Absolutely. 119 00:06:35,800 --> 00:06:39,159 Speaker 1: I think that, you know, previously we've always encouraged our 120 00:06:39,200 --> 00:06:42,320 Speaker 1: partners to lean into cultural moments. This is a place 121 00:06:42,320 --> 00:06:44,640 Speaker 1: where we're really starting to think about, you know, how 122 00:06:44,640 --> 00:06:47,440 Speaker 1: do you lean into that cultural moment? But more from 123 00:06:47,440 --> 00:06:51,640 Speaker 1: an emotive perspective in understanding that you really want comfort 124 00:06:51,720 --> 00:06:55,320 Speaker 1: and entertainment and education. Um, you know, with what the 125 00:06:55,360 --> 00:06:59,400 Speaker 1: content that they're you know, streaming at this point, got it? Uh, 126 00:06:59,480 --> 00:07:02,480 Speaker 1: and Sean work back to you. Is it the kind 127 00:07:02,520 --> 00:07:04,479 Speaker 1: of thing where it's like you have one playbook at 128 00:07:04,520 --> 00:07:07,160 Speaker 1: the beginning of the year and now everything's changed, or 129 00:07:07,240 --> 00:07:10,760 Speaker 1: is it maybe a little more moderate than that. I mean, uh, well, 130 00:07:10,760 --> 00:07:12,920 Speaker 1: it's hard enough to launch a streaming service, never mind 131 00:07:13,000 --> 00:07:16,560 Speaker 1: in the middle of a pandemic. So I think there 132 00:07:16,640 --> 00:07:18,760 Speaker 1: was a starting you know, really two years ago when 133 00:07:18,760 --> 00:07:21,880 Speaker 1: this thing kicked off. There's been a pretty constant stream 134 00:07:22,000 --> 00:07:25,360 Speaker 1: of effort and and the team has run basically at 135 00:07:25,360 --> 00:07:27,480 Speaker 1: one speed and what's been actually really cool. I'm not 136 00:07:27,520 --> 00:07:29,400 Speaker 1: sure if the other panalysts you guys have seen this, 137 00:07:29,480 --> 00:07:32,160 Speaker 1: but um, we really haven't missed a beat. From a 138 00:07:32,240 --> 00:07:35,000 Speaker 1: remote working point of view. Um, it's really a testament 139 00:07:35,040 --> 00:07:38,800 Speaker 1: to the teams and the leadership of those teams to 140 00:07:38,800 --> 00:07:40,640 Speaker 1: be able to keep everybody together. But we haven't. You know, 141 00:07:40,640 --> 00:07:43,560 Speaker 1: we're still very much on for a May launch and 142 00:07:43,560 --> 00:07:46,280 Speaker 1: and haven't really missed a beat. Which I have to 143 00:07:46,320 --> 00:07:48,720 Speaker 1: say is you know, obviously there there are things you 144 00:07:48,760 --> 00:07:51,800 Speaker 1: think about in terms of the marketplace you're entering into 145 00:07:51,880 --> 00:07:56,200 Speaker 1: and um, some consideration you give to those two to that, 146 00:07:56,320 --> 00:07:58,920 Speaker 1: but the team has really has really sort of cloud 147 00:07:58,960 --> 00:08:02,000 Speaker 1: own admirable here. Nice. I mean, you're the launch you're 148 00:08:02,000 --> 00:08:06,080 Speaker 1: referring to as HBO Max that's still on schedule. I mean, 149 00:08:06,240 --> 00:08:08,840 Speaker 1: there's been naturally people in the market saying the streaming 150 00:08:08,840 --> 00:08:12,280 Speaker 1: services should get out there early. Is that even possible? 151 00:08:14,560 --> 00:08:17,440 Speaker 1: I think I think if if, if we if we 152 00:08:17,480 --> 00:08:19,000 Speaker 1: could have gone a little bit earlier, we would have. 153 00:08:19,080 --> 00:08:22,520 Speaker 1: But but I think we're absolutely on schedule for for 154 00:08:22,560 --> 00:08:25,960 Speaker 1: the May launch, and I think just based on what 155 00:08:26,000 --> 00:08:30,720 Speaker 1: I'm seeing and reading, uh, I think there's the opportunity, 156 00:08:30,960 --> 00:08:32,559 Speaker 1: which is to say, people being at home for a 157 00:08:32,559 --> 00:08:34,040 Speaker 1: little while, it's going to be there for a little while. 158 00:08:34,040 --> 00:08:35,679 Speaker 1: So I think when we come out in May, it's 159 00:08:35,720 --> 00:08:37,440 Speaker 1: gonna be a very good time for people to get 160 00:08:37,520 --> 00:08:40,440 Speaker 1: not just the d HBO content, but all of the 161 00:08:40,520 --> 00:08:43,679 Speaker 1: library content that we have coming from from the warnerside. 162 00:08:44,160 --> 00:08:46,520 Speaker 1: It's ten thousand hours of content at launch and then 163 00:08:46,520 --> 00:08:48,640 Speaker 1: plus all the originals. So I think there's there's gonna 164 00:08:48,640 --> 00:08:51,280 Speaker 1: be something for everybody there. Greg, you're in your capacity 165 00:08:51,320 --> 00:08:53,800 Speaker 1: at p w C, you're hearing from a lot of 166 00:08:53,840 --> 00:08:56,960 Speaker 1: different businesses. I'm just curious, is it is the tone 167 00:08:57,040 --> 00:09:02,120 Speaker 1: sort of crisis level at media company ease or you know. Look, 168 00:09:02,160 --> 00:09:05,920 Speaker 1: there has been a share of these kind of situations 169 00:09:05,920 --> 00:09:07,839 Speaker 1: in the past, when you go back to things like 170 00:09:08,440 --> 00:09:11,760 Speaker 1: the recession of two thousand eight, when you go back 171 00:09:11,880 --> 00:09:16,000 Speaker 1: to the wider strike mine eleven. How does this stack 172 00:09:16,080 --> 00:09:18,760 Speaker 1: up in terms of crises that you have consulted on. 173 00:09:19,360 --> 00:09:22,480 Speaker 1: I think it's um, it's it's very similar to those 174 00:09:22,520 --> 00:09:25,480 Speaker 1: in some respects, but it's very different as well. Um. 175 00:09:25,520 --> 00:09:28,680 Speaker 1: We we don't certainly haven't faced a situation where the 176 00:09:28,800 --> 00:09:31,280 Speaker 1: entire country, you know, is staying at home. That's something 177 00:09:31,320 --> 00:09:34,120 Speaker 1: that's very new and very different and I shouldn't stay 178 00:09:34,240 --> 00:09:37,000 Speaker 1: entire country. But but the most of the businesses that 179 00:09:37,040 --> 00:09:39,400 Speaker 1: we work with, and it's very different across the M 180 00:09:39,400 --> 00:09:42,640 Speaker 1: and E stegments in terms of how how it's affecting 181 00:09:42,640 --> 00:09:46,119 Speaker 1: their business. Um, we're seeing sub businesses that are they're 182 00:09:46,160 --> 00:09:50,600 Speaker 1: handling it very calm and dealing with good stabilization. Uh, 183 00:09:50,640 --> 00:09:52,839 Speaker 1: and they're looking towards you know, that light at the 184 00:09:52,880 --> 00:09:54,440 Speaker 1: end of the tunnel where things come and they can 185 00:09:54,440 --> 00:09:57,280 Speaker 1: return to a new normal. We also have some businesses 186 00:09:57,320 --> 00:10:00,280 Speaker 1: that are very severely impacted, and in some cases that's 187 00:10:00,280 --> 00:10:02,839 Speaker 1: working with those clients to to help look at the 188 00:10:02,880 --> 00:10:04,439 Speaker 1: care Act and how that might be able to help 189 00:10:04,480 --> 00:10:07,319 Speaker 1: them in time of time of need UM, but also 190 00:10:07,360 --> 00:10:10,240 Speaker 1: looking to the future in terms of what does this 191 00:10:10,320 --> 00:10:13,760 Speaker 1: mean for their business, their business model, and how are 192 00:10:13,800 --> 00:10:16,320 Speaker 1: things going to change moving forward and what what's the 193 00:10:16,800 --> 00:10:19,640 Speaker 1: that new normal again, how's that going to be significant 194 00:10:19,640 --> 00:10:23,120 Speaker 1: for their business and uh and how they approached the market. Okay, 195 00:10:23,679 --> 00:10:27,360 Speaker 1: now over to you, Josh. You know, on the advertising side, 196 00:10:27,400 --> 00:10:33,199 Speaker 1: it's interesting NBCUniversal participated in a pretty broad ranging p 197 00:10:33,440 --> 00:10:36,360 Speaker 1: s A with a lot of partners the White House 198 00:10:36,559 --> 00:10:39,000 Speaker 1: about getting the message out to people about how they 199 00:10:39,000 --> 00:10:42,400 Speaker 1: should be conducting themselves in a crisis like this. I 200 00:10:42,440 --> 00:10:45,160 Speaker 1: can tell me a little bit about that, sure. So 201 00:10:45,280 --> 00:10:48,400 Speaker 1: it was actually a really phenomenal project to be involved with. 202 00:10:49,120 --> 00:10:53,560 Speaker 1: We were originally UM contacted the CDC reached out to 203 00:10:53,600 --> 00:10:56,320 Speaker 1: the Ad Council and said they wanted to create a 204 00:10:56,360 --> 00:10:58,680 Speaker 1: series of p s as that could run across all 205 00:10:58,720 --> 00:11:02,040 Speaker 1: of media UM and they asked who can create those 206 00:11:02,120 --> 00:11:05,440 Speaker 1: for them. So the Ad Council reached out to our 207 00:11:05,559 --> 00:11:08,200 Speaker 1: team and we were able to create a number of 208 00:11:08,240 --> 00:11:12,400 Speaker 1: graphic based um P S A S that gave the 209 00:11:12,400 --> 00:11:15,439 Speaker 1: information that obviously was changing literally by the hour as 210 00:11:15,440 --> 00:11:19,440 Speaker 1: the CDC was getting more information. Uh. We felt really 211 00:11:19,480 --> 00:11:21,679 Speaker 1: really proud we were able to do that quickly over 212 00:11:21,720 --> 00:11:25,120 Speaker 1: the weekend. This was now three weeks ago, probably when 213 00:11:25,480 --> 00:11:29,000 Speaker 1: COVID nineteam was really starting to take effect on our 214 00:11:29,040 --> 00:11:31,600 Speaker 1: country and people were really needed to to get that 215 00:11:31,640 --> 00:11:35,120 Speaker 1: information in real time. Following up on that, there were 216 00:11:35,120 --> 00:11:38,920 Speaker 1: calls directly with the White House on how each media 217 00:11:39,000 --> 00:11:42,800 Speaker 1: company could then further get the word out in ways 218 00:11:42,840 --> 00:11:47,280 Speaker 1: to their audiences. So we decided to utilize our iconic 219 00:11:47,320 --> 00:11:49,400 Speaker 1: the More You Know campaign, which has been around for 220 00:11:49,440 --> 00:11:52,960 Speaker 1: thirty years at NBC Universal. We utilize our talent from 221 00:11:52,960 --> 00:11:57,119 Speaker 1: across the portfolio. UH, and we thought, since everybody obviously 222 00:11:57,320 --> 00:12:00,640 Speaker 1: is working remotely from home, what was gonna obviously going 223 00:12:00,720 --> 00:12:03,000 Speaker 1: to have to happen Because all of our talent was 224 00:12:03,080 --> 00:12:07,000 Speaker 1: also social distancing and working from home. We were able 225 00:12:07,040 --> 00:12:10,760 Speaker 1: to then write thirty to forty scripts on various different 226 00:12:10,800 --> 00:12:14,720 Speaker 1: things that were important, so whether it was messaging directly 227 00:12:14,760 --> 00:12:17,240 Speaker 1: to those most at risk, whether it was messaging to 228 00:12:17,400 --> 00:12:20,000 Speaker 1: parents on how they should be speaking to their children 229 00:12:20,320 --> 00:12:23,560 Speaker 1: to get them through COVID nineteen UM whether it was 230 00:12:23,840 --> 00:12:26,960 Speaker 1: UM trying to reach millennials who were not social distancing 231 00:12:26,960 --> 00:12:30,160 Speaker 1: and taking it seriously enough. So we created a variety 232 00:12:30,200 --> 00:12:34,040 Speaker 1: of different scripts and we had UM about sixty different 233 00:12:34,040 --> 00:12:38,320 Speaker 1: talent from across the portfolio UM shoot themselves at home 234 00:12:38,400 --> 00:12:41,959 Speaker 1: with their cameras UM on their phones, and we then 235 00:12:42,040 --> 00:12:44,480 Speaker 1: had them send it into us and we edited it 236 00:12:44,559 --> 00:12:47,240 Speaker 1: together into a full series of p s a s 237 00:12:47,720 --> 00:12:50,680 Speaker 1: under the More You Know campaign that featured talent from 238 00:12:50,720 --> 00:12:54,079 Speaker 1: all across our portfolios, from news to entertainment to Hispanic. 239 00:12:54,520 --> 00:12:56,600 Speaker 1: We did a bunch of English language and a bunch 240 00:12:56,600 --> 00:12:59,640 Speaker 1: of Spanish language that are now running everywhere. And it's 241 00:12:59,679 --> 00:13:02,719 Speaker 1: something we're really really proud of because the CDC is 242 00:13:02,760 --> 00:13:05,200 Speaker 1: the one giving us that direct information and we feel 243 00:13:05,280 --> 00:13:07,960 Speaker 1: like we're getting that real information to the people in 244 00:13:08,080 --> 00:13:10,960 Speaker 1: real time. But also the process of not being able 245 00:13:11,000 --> 00:13:14,240 Speaker 1: to go and shoot this high you know, high tech 246 00:13:14,320 --> 00:13:17,680 Speaker 1: high resolution like we normally would, but having everybody shoot 247 00:13:17,679 --> 00:13:20,000 Speaker 1: them on their phones and editing from our own homes 248 00:13:20,320 --> 00:13:22,960 Speaker 1: was really an interesting process and something we're really really 249 00:13:22,960 --> 00:13:26,679 Speaker 1: proud of. I think that's great, Julie. You know, on 250 00:13:26,720 --> 00:13:29,600 Speaker 1: the subject of giving back you've been engaged in some 251 00:13:29,720 --> 00:13:34,240 Speaker 1: relief efforts over at Spotify. Tell us a bit about that. Sure, absolutely, 252 00:13:34,280 --> 00:13:37,240 Speaker 1: And and similarly, I think Spotify is really a part 253 00:13:37,280 --> 00:13:40,800 Speaker 1: of people's essential listening UM habits on a daily basis. 254 00:13:41,240 --> 00:13:43,680 Speaker 1: So you know, part of what we have been UM 255 00:13:43,679 --> 00:13:45,840 Speaker 1: working on and something that we're really proud of is 256 00:13:45,880 --> 00:13:50,240 Speaker 1: the Spotify COVID nineteen Music Relief Project, where Spotify is 257 00:13:50,280 --> 00:13:54,439 Speaker 1: matching up to ten million dollars in donations UM specifically 258 00:13:54,440 --> 00:13:58,640 Speaker 1: for the music community, UM, the creator community. So UM, 259 00:13:58,679 --> 00:14:02,200 Speaker 1: you know, that is something UM that has been a 260 00:14:02,240 --> 00:14:05,560 Speaker 1: passion point and been moving forward on. And then also 261 00:14:05,800 --> 00:14:09,880 Speaker 1: just from like general information perspective, UM Spotify on our 262 00:14:09,920 --> 00:14:13,760 Speaker 1: home screen it allows users to you know, visit the 263 00:14:13,760 --> 00:14:16,520 Speaker 1: app and then also learn information from the CDC and 264 00:14:16,559 --> 00:14:20,360 Speaker 1: the World Health Organization across thirty nine different languages, So 265 00:14:20,400 --> 00:14:22,920 Speaker 1: independent of where you are, that's where you're going to 266 00:14:22,960 --> 00:14:24,720 Speaker 1: be directed to to be able to get the right 267 00:14:24,760 --> 00:14:28,560 Speaker 1: information about your health and wellness as well. That's great, 268 00:14:28,840 --> 00:14:31,720 Speaker 1: that's great to hear. UM. I want to talk a 269 00:14:31,760 --> 00:14:34,160 Speaker 1: bit more about what we're all dealing with these days, 270 00:14:34,200 --> 00:14:37,200 Speaker 1: which is you know, remote work and what that's been 271 00:14:37,240 --> 00:14:39,800 Speaker 1: like for you guys, is the nature of being in 272 00:14:39,840 --> 00:14:43,280 Speaker 1: your business like many business nowadays, that everything can be 273 00:14:43,320 --> 00:14:45,920 Speaker 1: done remotely? Or is there something distinct your business is 274 00:14:45,960 --> 00:14:49,280 Speaker 1: where you know, maybe it's okay to be doing it 275 00:14:49,320 --> 00:14:53,160 Speaker 1: from home. Maybe there's even hidden benefits. Uh, Sean, what's 276 00:14:53,160 --> 00:14:56,120 Speaker 1: your take? Yeah, I mean I guess what must be 277 00:14:56,120 --> 00:14:58,200 Speaker 1: for everybody else, But for for us it has been 278 00:14:58,240 --> 00:15:01,400 Speaker 1: as I said, it's been. I think productivity is there 279 00:15:01,440 --> 00:15:04,480 Speaker 1: are aspects of it, so for example, like QA and 280 00:15:04,560 --> 00:15:06,600 Speaker 1: things that some some things that need to be done 281 00:15:06,600 --> 00:15:11,880 Speaker 1: in a in a more shared setting, uh, are more challenging. Um. 282 00:15:11,920 --> 00:15:14,440 Speaker 1: But from a from a global point of view, I 283 00:15:14,480 --> 00:15:17,320 Speaker 1: think it's been really really. I don't think we've missed 284 00:15:17,320 --> 00:15:18,800 Speaker 1: a beat, and I think that I think the the 285 00:15:19,000 --> 00:15:23,520 Speaker 1: the challenge actually becomes more Uh. The tools are there, 286 00:15:23,560 --> 00:15:26,160 Speaker 1: the challenge becomes more of an emotional challenge than a 287 00:15:27,200 --> 00:15:29,240 Speaker 1: physical work product one, which is how do you keep 288 00:15:29,280 --> 00:15:34,040 Speaker 1: the team together oriented, understanding what's happening? And as the 289 00:15:34,040 --> 00:15:36,800 Speaker 1: panelists were saying it, it's in an environment where the 290 00:15:36,880 --> 00:15:40,040 Speaker 1: information is changing very quickly. It's uh, it's how do 291 00:15:40,040 --> 00:15:41,800 Speaker 1: you how do you sort of keep everybody connected to 292 00:15:41,800 --> 00:15:46,400 Speaker 1: the mothership. The biggest challenging. Got it Josh and your 293 00:15:46,440 --> 00:15:50,720 Speaker 1: capacity of NBC Universal. What's it been like for you, Well, 294 00:15:50,800 --> 00:15:54,280 Speaker 1: it's obviously very difficult. You know, the crux of everything 295 00:15:54,320 --> 00:15:57,480 Speaker 1: we do is usually you know, in studios with a 296 00:15:57,600 --> 00:16:00,960 Speaker 1: number of different people on a shoot at all times, 297 00:16:01,040 --> 00:16:04,000 Speaker 1: you know, hundreds of people there for a shoot. So 298 00:16:04,760 --> 00:16:07,720 Speaker 1: having to take that away and do everything you know 299 00:16:08,280 --> 00:16:11,400 Speaker 1: from home, from that point of view is less than ideal. 300 00:16:11,880 --> 00:16:13,680 Speaker 1: But I think that if you see the work that's 301 00:16:13,680 --> 00:16:16,960 Speaker 1: coming out, not just from NBC Universal, but from marketers 302 00:16:17,120 --> 00:16:21,040 Speaker 1: all across the country, and how they're responding and creating 303 00:16:21,120 --> 00:16:24,720 Speaker 1: messaging that is not tone death, that is done remotely, 304 00:16:24,760 --> 00:16:28,600 Speaker 1: that's using imagery that's already shot. Um, it's really been 305 00:16:28,640 --> 00:16:31,320 Speaker 1: an amazing thing for me to watch as a viewer, 306 00:16:31,880 --> 00:16:35,280 Speaker 1: UM and really see how these companies have responded to 307 00:16:35,480 --> 00:16:38,520 Speaker 1: it as far as working remotely though, you know, for 308 00:16:38,640 --> 00:16:42,080 Speaker 1: the most part, Um, I agree very much with what 309 00:16:42,200 --> 00:16:45,880 Speaker 1: John was just saying that, you know, we've really responded well. 310 00:16:46,160 --> 00:16:48,520 Speaker 1: And I think that we're actually sharing information, as I 311 00:16:48,560 --> 00:16:52,560 Speaker 1: mentioned earlier, more in real time than ever before, and 312 00:16:52,600 --> 00:16:56,960 Speaker 1: we're certainly learning about other divisions in our company quicker right, 313 00:16:57,000 --> 00:17:00,320 Speaker 1: there's meetings that unfortunately we're all guilty of we just 314 00:17:00,360 --> 00:17:03,280 Speaker 1: didn't go to because I've got something else going on. Well, 315 00:17:03,320 --> 00:17:06,200 Speaker 1: now that we're having these big, massive work from home meetings, 316 00:17:06,440 --> 00:17:09,000 Speaker 1: I'm hearing from folks and other divisions and learning so 317 00:17:09,080 --> 00:17:11,879 Speaker 1: much more. I'm getting so much from my insights and 318 00:17:11,920 --> 00:17:15,080 Speaker 1: Measurements teams on what this truly means, that it's really 319 00:17:15,119 --> 00:17:17,000 Speaker 1: helping me in my day to day work as well. 320 00:17:17,359 --> 00:17:20,240 Speaker 1: So there's definitely, you know, some positives and some negatives 321 00:17:20,240 --> 00:17:24,800 Speaker 1: about this. GREG you consult with a lot of different 322 00:17:24,800 --> 00:17:29,840 Speaker 1: companies on remote working other kinds of issues. What has 323 00:17:29,880 --> 00:17:34,040 Speaker 1: been some of your counsel during these challenging times. Well, 324 00:17:34,040 --> 00:17:36,239 Speaker 1: some are more prepared than others obviously, you know, if 325 00:17:36,280 --> 00:17:38,000 Speaker 1: you think of Workforce of the Future and all the 326 00:17:38,040 --> 00:17:42,000 Speaker 1: tools and technologies UM that we use for UH for 327 00:17:42,160 --> 00:17:45,959 Speaker 1: not only video conferencing, but for collaboration, every every client's 328 00:17:45,960 --> 00:17:47,679 Speaker 1: a little different in terms of how they're handling it. 329 00:17:47,760 --> 00:17:51,119 Speaker 1: There's some some areas that really require UM in person 330 00:17:51,200 --> 00:17:54,959 Speaker 1: human interaction. If you think of moving to towards a 331 00:17:55,040 --> 00:17:58,840 Speaker 1: virtual salesforce in some regard you think of like projects 332 00:17:58,840 --> 00:18:02,119 Speaker 1: that require design in UH, they're much more suited for 333 00:18:02,240 --> 00:18:04,879 Speaker 1: you know in person, and I agree with both Josh 334 00:18:04,880 --> 00:18:07,520 Speaker 1: and Shawn's comments that it's really hard to UM to 335 00:18:07,640 --> 00:18:11,960 Speaker 1: remotely cover the human factor associated the camaraderie, the ability 336 00:18:12,000 --> 00:18:14,200 Speaker 1: for people to feel part of a community, and sometimes 337 00:18:14,240 --> 00:18:17,560 Speaker 1: that's the biggest challenge UM. At PDC, we work very 338 00:18:17,600 --> 00:18:21,560 Speaker 1: remotely on a constant basis. The biggest change for our 339 00:18:21,600 --> 00:18:23,760 Speaker 1: folcus is they're they're not traveling to be at their 340 00:18:23,800 --> 00:18:26,639 Speaker 1: client site and interacting in a in a in a 341 00:18:26,760 --> 00:18:30,640 Speaker 1: very human way. They're doing that, you know, using technology. UM. 342 00:18:30,720 --> 00:18:33,280 Speaker 1: But we're seeing that across the landscape or seeing you know, 343 00:18:33,359 --> 00:18:36,320 Speaker 1: lots of rooic efforts to to stay connected. And I 344 00:18:36,359 --> 00:18:38,919 Speaker 1: do think that a good portion of this will remain 345 00:18:39,040 --> 00:18:41,159 Speaker 1: when we UM. When we come out of this, I 346 00:18:41,200 --> 00:18:44,600 Speaker 1: think there will be new and innovative ways to work collaboratively, 347 00:18:44,960 --> 00:18:48,600 Speaker 1: to work virtually. Some of this will remain UM as 348 00:18:48,640 --> 00:18:51,159 Speaker 1: part of you know, where we go UM, but we're 349 00:18:51,200 --> 00:18:54,440 Speaker 1: seeing very innovative approaches across that form UM in all 350 00:18:54,480 --> 00:18:57,000 Speaker 1: different client spaces. Greig, why don't you show us some 351 00:18:57,040 --> 00:19:00,240 Speaker 1: of the slides you've got on this subject. I know 352 00:19:00,359 --> 00:19:04,080 Speaker 1: you've got some interesting thoughts to share. Sure, we've developed 353 00:19:04,160 --> 00:19:07,840 Speaker 1: UH the way we approach, and all of these are 354 00:19:07,840 --> 00:19:10,520 Speaker 1: available via p TWOBC dot com at our US COVID 355 00:19:10,560 --> 00:19:12,040 Speaker 1: site that's up on the screen as well as on 356 00:19:12,080 --> 00:19:15,520 Speaker 1: the resource center. But we've developed a crisis methodology that 357 00:19:15,560 --> 00:19:17,760 Speaker 1: we work with a lot of our clients on. First mobilized, 358 00:19:17,800 --> 00:19:20,320 Speaker 1: which is taking care of your people UM, dealing with 359 00:19:20,359 --> 00:19:23,040 Speaker 1: some of the issues that that are cropping up in 360 00:19:23,359 --> 00:19:26,360 Speaker 1: the first number of weeks related to the crisis. Then 361 00:19:26,359 --> 00:19:28,720 Speaker 1: moving from that into stabilization, which is making a little 362 00:19:28,720 --> 00:19:30,959 Speaker 1: bit more informed decisions for your people in your business. 363 00:19:31,560 --> 00:19:34,480 Speaker 1: And lastly, it's you know, looking at the big picture 364 00:19:34,520 --> 00:19:36,159 Speaker 1: as we get on top of the you know, the 365 00:19:36,240 --> 00:19:39,120 Speaker 1: backside of that belker, and how we look at UM 366 00:19:39,320 --> 00:19:42,159 Speaker 1: strategic decisions that are going to affect your business moving forward, 367 00:19:42,520 --> 00:19:45,440 Speaker 1: both today and tomorrow. We have six key areas of 368 00:19:45,520 --> 00:19:47,920 Speaker 1: focus that we that we have seen our clients looking 369 00:19:47,960 --> 00:19:53,040 Speaker 1: at UM. Obviously crisis response, workforce, supply chain, UM, a 370 00:19:53,080 --> 00:19:56,080 Speaker 1: lot of finance, liquidity, copple market issues, how do you 371 00:19:56,080 --> 00:19:58,159 Speaker 1: deal with trade as an as an example, there's a 372 00:19:58,160 --> 00:20:00,399 Speaker 1: lot in it operating loss advantages for lated to the 373 00:20:00,400 --> 00:20:03,160 Speaker 1: care Act, and then ultimately that strategy and that brand 374 00:20:03,200 --> 00:20:06,639 Speaker 1: component in terms of how we're working with communities and businesses. 375 00:20:07,040 --> 00:20:08,640 Speaker 1: We've got a number of tools out on the site. 376 00:20:08,680 --> 00:20:13,560 Speaker 1: One is our COVID navigator that allows people to UM 377 00:20:13,600 --> 00:20:17,400 Speaker 1: fill out a quick survey, get real time UM sentiment 378 00:20:17,800 --> 00:20:19,720 Speaker 1: on where things are going and how people are dealing 379 00:20:19,800 --> 00:20:22,200 Speaker 1: with the critical areas of focus are And then we 380 00:20:22,240 --> 00:20:25,520 Speaker 1: have a set of tools outside on our site related 381 00:20:25,560 --> 00:20:28,240 Speaker 1: to check in, which is some new tools associated with 382 00:20:28,280 --> 00:20:31,560 Speaker 1: how you manage UH and and and benchmark productivity for 383 00:20:31,600 --> 00:20:33,919 Speaker 1: your workforce. Now that we're all working from home and 384 00:20:33,960 --> 00:20:38,719 Speaker 1: working virtually, and there's many other UM resources out there, 385 00:20:38,720 --> 00:20:41,040 Speaker 1: I would say at the site, most of them are 386 00:20:41,359 --> 00:20:45,240 Speaker 1: you know, available to all, so please uh check it 387 00:20:45,240 --> 00:20:47,679 Speaker 1: out and you'll find something probably useful that you can 388 00:20:47,920 --> 00:20:51,160 Speaker 1: your organization can use moving forward. So I want to 389 00:20:51,240 --> 00:20:54,560 Speaker 1: go to the subject of you know, we're seeing companies 390 00:20:54,600 --> 00:20:57,560 Speaker 1: like some of yours with drawing financial guidance for the 391 00:20:57,560 --> 00:21:00,359 Speaker 1: coming quarter, and I'm curious what kind of messages hearing 392 00:21:00,400 --> 00:21:03,359 Speaker 1: from leadership at your companies right now. Is it is 393 00:21:03,359 --> 00:21:06,800 Speaker 1: it about rallying the troops in the face of adversity 394 00:21:07,080 --> 00:21:11,639 Speaker 1: or is it really tough talk about tough times ahead. Sean, 395 00:21:11,680 --> 00:21:13,760 Speaker 1: do you want to take that one first. Yeah, I 396 00:21:13,760 --> 00:21:16,639 Speaker 1: think there's a healthy dose of realism in it. And 397 00:21:16,960 --> 00:21:19,959 Speaker 1: I think just to take one step back within our company, 398 00:21:20,080 --> 00:21:22,120 Speaker 1: you know, you we've talked about sort of how people 399 00:21:22,160 --> 00:21:25,920 Speaker 1: have engaged in the crisis from multidimensional point of view. 400 00:21:25,960 --> 00:21:27,720 Speaker 1: I mean, when when we take a step back, A 401 00:21:27,840 --> 00:21:30,440 Speaker 1: T and T is responsible for a major piece of 402 00:21:30,480 --> 00:21:34,399 Speaker 1: the country's infrastructure and communications CNN is responsible for a 403 00:21:34,480 --> 00:21:36,840 Speaker 1: major piece of how people get their information about this. 404 00:21:37,280 --> 00:21:40,280 Speaker 1: So there are aspects of this that that uh, well 405 00:21:40,320 --> 00:21:42,400 Speaker 1: beyond the launch of a streaming service and well beyond 406 00:21:42,640 --> 00:21:45,480 Speaker 1: you know HBO Max that that are are being sort 407 00:21:45,480 --> 00:21:47,760 Speaker 1: of dealt with every day. So when you think about 408 00:21:47,760 --> 00:21:50,280 Speaker 1: the scope of what leadership is telling us, it's through 409 00:21:50,280 --> 00:21:54,560 Speaker 1: the lens of a major responsibility to to the country. Um, 410 00:21:54,680 --> 00:21:56,960 Speaker 1: well before it is any anything about sort of a 411 00:21:57,200 --> 00:22:01,000 Speaker 1: you know, uh sort of future prognant this. But at 412 00:22:01,040 --> 00:22:03,240 Speaker 1: the same time, you know the other messages, there is 413 00:22:03,240 --> 00:22:05,920 Speaker 1: another side to this, like this is not it's hard 414 00:22:05,920 --> 00:22:08,160 Speaker 1: to see now it is changing, but there is going 415 00:22:08,200 --> 00:22:09,800 Speaker 1: to be another side to this and we're going to 416 00:22:09,840 --> 00:22:12,560 Speaker 1: get there. And the question becomes, you know, what, what 417 00:22:12,640 --> 00:22:14,280 Speaker 1: are the new habits that are going to be formed, 418 00:22:14,560 --> 00:22:16,200 Speaker 1: what are the new systems they're going to be created, 419 00:22:16,200 --> 00:22:18,880 Speaker 1: and how do we be part of that solution as 420 00:22:18,880 --> 00:22:22,640 Speaker 1: we come through this. Julie, what about what about yourself? Uh? 421 00:22:22,760 --> 00:22:27,600 Speaker 1: You know, is uh is your CEO sending the right 422 00:22:27,680 --> 00:22:31,840 Speaker 1: messages at this time? Is he talking about tough times 423 00:22:31,880 --> 00:22:35,440 Speaker 1: ahead or being more optimistic? I'm curious about the leadership 424 00:22:35,480 --> 00:22:39,360 Speaker 1: town So I would say the leadership tone has remained 425 00:22:39,440 --> 00:22:42,280 Speaker 1: very similar to what it's always been. It's very authentic, 426 00:22:42,440 --> 00:22:44,359 Speaker 1: and it is you know. I think that the thing 427 00:22:44,480 --> 00:22:48,199 Speaker 1: that I personally appreciate about Spotify is that it's a 428 00:22:48,240 --> 00:22:51,080 Speaker 1: company that will address head you know, head first, what 429 00:22:51,160 --> 00:22:54,480 Speaker 1: are opportunities and what are our challenges? So that that 430 00:22:54,560 --> 00:22:57,920 Speaker 1: tone has remained. Um. I will say that there has 431 00:22:57,920 --> 00:23:00,719 Speaker 1: been a special attention to the work place and you know, 432 00:23:00,760 --> 00:23:05,120 Speaker 1: the employees overall, just understanding that people have might have 433 00:23:05,280 --> 00:23:08,440 Speaker 1: infants or children and trying to balance working and their 434 00:23:08,480 --> 00:23:11,400 Speaker 1: partners working at the same time too, and just being 435 00:23:11,440 --> 00:23:15,400 Speaker 1: really thoughtful about, um, you know, how we can balance 436 00:23:15,400 --> 00:23:17,399 Speaker 1: all of this and manage that. I think I've got 437 00:23:17,440 --> 00:23:20,480 Speaker 1: two ten year old boys in the basement right now, Um, well, 438 00:23:20,600 --> 00:23:24,120 Speaker 1: when they're playing video games. But uh, so they're they're 439 00:23:24,119 --> 00:23:26,520 Speaker 1: loving a little break from school. But you know, it 440 00:23:26,640 --> 00:23:28,920 Speaker 1: has been really authentic, and it's been authentic to the 441 00:23:29,000 --> 00:23:33,119 Speaker 1: user experience and just understanding that it's really about being informed, 442 00:23:33,160 --> 00:23:36,919 Speaker 1: connected and grounded and everything that we do. So I 443 00:23:36,920 --> 00:23:39,600 Speaker 1: wouldn't say that like there has been no Guman gloom, 444 00:23:39,840 --> 00:23:42,879 Speaker 1: but it's also been very realistic about you know, how 445 00:23:42,880 --> 00:23:47,000 Speaker 1: do we you know, understand our business now even better 446 00:23:47,240 --> 00:23:49,959 Speaker 1: moving into this next phase in what this new normal 447 00:23:50,119 --> 00:23:53,879 Speaker 1: is got it UM? You know, Josh and your case, 448 00:23:53,920 --> 00:23:57,160 Speaker 1: what's interesting is, you know, you have a senior executive 449 00:23:57,160 --> 00:24:01,280 Speaker 1: image Universal actually came down with COVID nineteen. Has talked 450 00:24:01,280 --> 00:24:03,520 Speaker 1: about what that has been like for him. I would 451 00:24:03,520 --> 00:24:07,120 Speaker 1: imagine that that does something to a company's culture. Uh 452 00:24:07,320 --> 00:24:10,360 Speaker 1: not that they're you know what tell me about that? Absolutely, 453 00:24:10,440 --> 00:24:13,800 Speaker 1: you know that was something that was you know, obviously 454 00:24:14,040 --> 00:24:16,000 Speaker 1: a shock to all of us. We found out in 455 00:24:16,080 --> 00:24:19,280 Speaker 1: real time. He kept that UM within a small circle 456 00:24:19,359 --> 00:24:22,720 Speaker 1: in the beginning and then came public with it. Luckily, 457 00:24:23,359 --> 00:24:26,760 Speaker 1: from my understanding, he's feeling good and he's doing well now. 458 00:24:27,280 --> 00:24:31,000 Speaker 1: But our leadership team UM, in my opinion, has led 459 00:24:31,000 --> 00:24:33,800 Speaker 1: by example, and I think they've done a phenomenal job. 460 00:24:33,920 --> 00:24:36,119 Speaker 1: You know, Jeff Shell, who we were just referring to. 461 00:24:36,160 --> 00:24:40,080 Speaker 1: Brian Roberts and other very very senior and executives have 462 00:24:40,240 --> 00:24:43,240 Speaker 1: publicly come out and said they're donating a hundred percent 463 00:24:43,640 --> 00:24:48,399 Speaker 1: of their salaries to COVID nineteen based um, you know, 464 00:24:48,680 --> 00:24:51,080 Speaker 1: research or whatever, it may be, something to help people 465 00:24:51,119 --> 00:24:53,600 Speaker 1: along the way. A percent of their salaries is going 466 00:24:53,600 --> 00:24:56,120 Speaker 1: towards that. But they've also really cared about the people, 467 00:24:56,200 --> 00:24:59,399 Speaker 1: knowing this is really tough time, so they've created what 468 00:24:59,440 --> 00:25:03,600 Speaker 1: I believe a five hundred million dollar fund uh specifically 469 00:25:03,640 --> 00:25:07,120 Speaker 1: to keep people salaries paid during this really really difficult time. 470 00:25:07,440 --> 00:25:10,679 Speaker 1: But they've also set up things for our employees that 471 00:25:10,920 --> 00:25:15,680 Speaker 1: aren't helping us. So, whether it's meditation, whether it's doctors, 472 00:25:16,080 --> 00:25:18,680 Speaker 1: whether it's access to all these other types of things 473 00:25:18,680 --> 00:25:22,360 Speaker 1: that anybody can choose to go into. Literally on my 474 00:25:22,480 --> 00:25:25,320 Speaker 1: calendar every single day is something that our company is 475 00:25:25,359 --> 00:25:28,040 Speaker 1: offering to our employees, which has been a really really 476 00:25:28,160 --> 00:25:31,680 Speaker 1: nice thing to feel throughout this process that that the 477 00:25:31,880 --> 00:25:34,360 Speaker 1: senior management of our team truly does care about us, 478 00:25:34,760 --> 00:25:37,600 Speaker 1: and they care about the general public as well. Right, 479 00:25:37,680 --> 00:25:41,159 Speaker 1: I think to the point of what we're trying to accomplish. 480 00:25:41,320 --> 00:25:43,720 Speaker 1: Every single one of our networks needs to have a 481 00:25:43,720 --> 00:25:46,040 Speaker 1: different sort of messaging because people are coming at this 482 00:25:46,160 --> 00:25:48,400 Speaker 1: from a different point of view. People are tuning into 483 00:25:48,520 --> 00:25:52,000 Speaker 1: MSNBC to get real time information. People are tuning into 484 00:25:52,040 --> 00:25:55,040 Speaker 1: c NBC because they're worried about what's happening to their 485 00:25:55,040 --> 00:25:56,920 Speaker 1: four oh one case and what's going to happen there. 486 00:25:57,400 --> 00:26:00,440 Speaker 1: People are turning into Today to get a mixture of everything. 487 00:26:00,480 --> 00:26:02,840 Speaker 1: They need something, they need some good news, they need 488 00:26:02,920 --> 00:26:05,560 Speaker 1: some real news, and Today is It's been a real 489 00:26:05,680 --> 00:26:08,240 Speaker 1: crutch for a lot of people that way, and then 490 00:26:08,280 --> 00:26:10,399 Speaker 1: this place is like Bravo where you just need to 491 00:26:10,600 --> 00:26:14,000 Speaker 1: escape and not hear about COVID nineteen. So everybody's trying 492 00:26:14,040 --> 00:26:16,560 Speaker 1: to play their part. So I think our management has 493 00:26:16,600 --> 00:26:19,280 Speaker 1: done a phenomenal job of really, you know, being there 494 00:26:19,280 --> 00:26:21,800 Speaker 1: for our people and showing that they truly care. But 495 00:26:21,880 --> 00:26:23,840 Speaker 1: I also think the way that we're talking to the 496 00:26:23,840 --> 00:26:26,120 Speaker 1: general public is trying to show that we truly care 497 00:26:26,160 --> 00:26:29,359 Speaker 1: about them as well. Thank you. Um. One last question 498 00:26:29,359 --> 00:26:33,119 Speaker 1: for me, just wanted to ask Greg a question media 499 00:26:33,200 --> 00:26:37,080 Speaker 1: companies in particular. Is there something about the d n 500 00:26:37,160 --> 00:26:40,080 Speaker 1: A of this industry that you think holds up well 501 00:26:40,119 --> 00:26:44,720 Speaker 1: in a crisis situation relative to other industries. Just curious 502 00:26:44,720 --> 00:26:47,000 Speaker 1: to get your read there and thanks again for your time. 503 00:26:47,240 --> 00:26:51,200 Speaker 1: Thanks Anny, No, I definitely think so. I think, uh, 504 00:26:51,400 --> 00:26:53,639 Speaker 1: the media industry has been under so much change if 505 00:26:53,640 --> 00:26:55,920 Speaker 1: you look back over the last decade and you think 506 00:26:55,920 --> 00:26:58,160 Speaker 1: about the adversity that has been put through in terms 507 00:26:58,200 --> 00:27:02,520 Speaker 1: of adaptability, flexible reality, being able to develop new products 508 00:27:02,520 --> 00:27:06,560 Speaker 1: and services to drive innovation. And while this is a 509 00:27:06,640 --> 00:27:08,640 Speaker 1: horrible event for all of us, I think the media 510 00:27:08,680 --> 00:27:12,000 Speaker 1: industry is a little more suited, um, partially in terms 511 00:27:12,000 --> 00:27:15,040 Speaker 1: of being able to work uh in this environment. There 512 00:27:15,080 --> 00:27:17,600 Speaker 1: are many other industries that were not prepared for you know, 513 00:27:17,640 --> 00:27:22,040 Speaker 1: working virtually. Um. They haven't handled that type of adversity 514 00:27:22,160 --> 00:27:24,760 Speaker 1: and they're not as adaptable. And I think overall, the 515 00:27:24,760 --> 00:27:27,240 Speaker 1: industry should come out of this, I think with a 516 00:27:27,280 --> 00:27:30,359 Speaker 1: tremendous amount of opportunity when that does come, um, and 517 00:27:30,359 --> 00:27:32,480 Speaker 1: it will be about taking advantage of that opportunity like 518 00:27:32,520 --> 00:27:34,439 Speaker 1: it always has been, and I think the media industry 519 00:27:34,480 --> 00:27:39,159 Speaker 1: is well suited for that. This has been another episode 520 00:27:39,160 --> 00:27:42,159 Speaker 1: of Strictly Business. Tune in next week for another helping 521 00:27:42,200 --> 00:27:46,080 Speaker 1: of scintillating conversation with media movers and shakers, and please 522 00:27:46,119 --> 00:27:49,960 Speaker 1: make sure you subscribe to the podcast to hear future episodes. 523 00:27:50,280 --> 00:27:53,080 Speaker 1: Also leave a review in Apple Podcast let us know 524 00:27:53,119 --> 00:27:53,720 Speaker 1: how we're doing