WEBVTT - Bloomberg Businessweek Weekend: October 11th, 2024

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<v Speaker 1>This is Bloomberg BusinessWeek inside from the reporters and editors

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<v Speaker 1>who bring you America's most trusted business magazine, plus global business,

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<v Speaker 1>finance and tech news as it happens. Bloomberg Business Week

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<v Speaker 1>with Carol Messer and Tim Stenebek on Bloomberg Radio.

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<v Speaker 2>Welcome to the weekend edition of Bloomberg Business Week. I'm

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<v Speaker 2>Matt Miller, filling in for Carol and Tim. They spent

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<v Speaker 2>the week in la at Bloomberg screen Time. The event

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<v Speaker 2>brought together celebrities, entrepreneurs, and media executives in the heart

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<v Speaker 2>of Hollywood to discuss the future of entertainment, and today

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<v Speaker 2>we're going to bring you some of the most influential

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<v Speaker 2>conversations from the gathering. Coming up this hour, how Netflix

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<v Speaker 2>stays ahead of the competition with its slate of new programming.

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<v Speaker 2>We'll hear from the company's chief content officer. Plus how

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<v Speaker 2>artificial intelligence plays into twenty first century entertainment. We'll speak

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<v Speaker 2>to the co creator of South Park about using big

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<v Speaker 2>tech on the small screen. But first, let's talk about

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<v Speaker 2>the future of TV from one of the biggest names

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<v Speaker 2>in the industry. NBC was founded in nineteen twenty six,

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<v Speaker 2>making it one of the oldest entertainment broadcasters in the world.

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<v Speaker 2>As competition increased in the media landscape, Comcast acquired NBC

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<v Speaker 2>Universal more than a decade ago, and now the network

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<v Speaker 2>is fresh off a successful Summer Olympics and a new

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<v Speaker 2>deal with the NBA. So what better time to hear

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<v Speaker 2>from Brian Roberts. He's chairman and CEO of Comcast NBC

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<v Speaker 2>Universal and sat down with Lucas Shaw from the Bloomberg

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<v Speaker 2>screen Time event in Los Angeles.

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<v Speaker 3>You seem to be investing more in media entertainment at

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<v Speaker 3>a time where there's a lot of anxiety and uncertainty

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<v Speaker 3>about it. Why does it make sense for comcasts to

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<v Speaker 3>be in the entertainment business and what do you see

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<v Speaker 3>that's sort of bright about the future that maybe others

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<v Speaker 3>don't agree with.

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<v Speaker 4>Well, I think a broad statement like that. You know,

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<v Speaker 4>Larry Ellison just chose to get in. You're sponsored by AWS.

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<v Speaker 4>There's you know, a complete change of who's enthusiastic and

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<v Speaker 4>what do they bring to the party, And maybe some

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<v Speaker 4>of those folks thought it was time to exit.

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<v Speaker 5>We're pretty excited about the company we've got.

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<v Speaker 4>We have in the media part of the business, you know,

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<v Speaker 4>studios growing great. You know, we have in Peacock a strategy.

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<v Speaker 4>I'm sure we'll get into it a little more. That

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<v Speaker 4>is a growth business for us. And we've also selling

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<v Speaker 4>our Hulu steak, so we actually will have you know,

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<v Speaker 4>very little money net in streaming in terms of losses

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<v Speaker 4>versus profits, so you know.

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<v Speaker 5>Each company is different.

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<v Speaker 4>Then we also have a broadband the majority of the

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<v Speaker 4>company my dad started Comcast Cable now really a broadband connectivity.

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<v Speaker 5>Business Wi Fi. You know, if you were to go

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<v Speaker 5>back ten years and you say, let's design with.

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<v Speaker 4>Your perfect knowledge of what the world looks like today,

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<v Speaker 4>what would be a cool company would say, I'd like

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<v Speaker 4>to connect everybody to what we're doing, whether it's in

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<v Speaker 4>streaming or whether it's in AI, or whether it's going

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<v Speaker 4>to be in you whatever comes next.

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<v Speaker 5>Zoom calls working from.

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<v Speaker 4>Home, and we have the nation's most connected broadband customers.

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<v Speaker 5>We have a converge service with wireless.

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<v Speaker 4>And broadband in more homes than AT and T, Verizon

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<v Speaker 4>T Mobile combined, and a lot of that content. One

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<v Speaker 4>hundred million people every quarter coming to watch today's show.

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<v Speaker 5>Tonight's show SNL.

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<v Speaker 4>Which is fabulous as always this year, And don't know

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<v Speaker 4>how one.

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<v Speaker 5>Michael can do it every time.

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<v Speaker 4>But this being such an important year, what a great

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<v Speaker 4>first two shows, and then film and television and the

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<v Speaker 4>stories we have, and then of course sports, and I'm sure.

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<v Speaker 5>We'll talk a little about that as well.

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<v Speaker 4>So I think we have a pretty great company. And

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<v Speaker 4>I'm more excited. This will be our sixtieth year.

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<v Speaker 5>My dad founded it.

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<v Speaker 4>This will be and last year was the most profitable

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<v Speaker 4>year and the best year in company's history. And you

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<v Speaker 4>know we're about to do earnings. Think we're going to

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<v Speaker 4>have a great year this year by all the analyst

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<v Speaker 4>accounts and maybe even the best year in the company's

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<v Speaker 4>history are right there.

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<v Speaker 5>And so why would you not be excited?

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<v Speaker 6>You brought up Peacock.

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<v Speaker 3>I'm curious how long until Peacock is really a profitable

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<v Speaker 3>and sustainable business on its own.

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<v Speaker 4>Well, first of all, we don't look at as on

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<v Speaker 4>its own, so I'm not doing a duct your question completely,

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<v Speaker 4>But that's not how we're running the business. We're running

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<v Speaker 4>it as part of the media business. So take the Olympics.

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<v Speaker 4>Eighty seven percent of the viewing was on NBC or

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<v Speaker 4>one of our cable channels.

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<v Speaker 5>Thirteen percent was on.

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<v Speaker 4>Peacock but together we presented to the consumer all those choices,

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<v Speaker 4>every event, every athlete, every country, Mike Turico doing two

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<v Speaker 4>prime time shows in a heroic fashion.

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<v Speaker 6>You know, hard to get. We have the stats here.

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<v Speaker 3>Universal had the most viewership of any company KEP viewership

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<v Speaker 3>at any company in August because of the lie.

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<v Speaker 4>Did it for seventeen straight days. It's so hard to

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<v Speaker 4>keep America's viewer's attention for more than two hours, let

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<v Speaker 4>alone seventeen days.

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<v Speaker 5>So that was a whole company effort.

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<v Speaker 4>And so to pick one part of the company and say, well,

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<v Speaker 4>how's that part doing well? If your goal is to

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<v Speaker 4>just be Netflix, that's a really important question. If your

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<v Speaker 4>goal is to have a media company that, particularly in

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<v Speaker 4>the United States, which is where most of our emphasis is,

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<v Speaker 4>is to deliver sports to I think of Bloomberg didn't

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<v Speaker 4>have a print business.

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<v Speaker 5>But I was chatting with some friends from the Wall Street.

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<v Speaker 4>Journal and they had to go from a quote dying

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<v Speaker 4>print business to a growing digital business.

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<v Speaker 5>And New York Times had to do the same.

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<v Speaker 4>There's some people that didn't make it USA today may

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<v Speaker 4>not quite get there. If you inquire regional papers, tough business.

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<v Speaker 5>We think NBC we.

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<v Speaker 4>Are going to get there, and Peacock is going to

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<v Speaker 4>be part of how that happens. As more and more

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<v Speaker 4>people cut the cord, more and more people will take Peacock.

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<v Speaker 3>That's why people ask about the sustainability to Peacock. I

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<v Speaker 3>get that it's part of this broader group, right, But

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<v Speaker 3>your cable networks are the ones that are going in

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<v Speaker 3>the wrong direction, right, so you need something to offset that.

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<v Speaker 5>Peacock. We think this year will be the most.

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<v Speaker 4>Losses we've had, even including the NBA investment that we're making.

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<v Speaker 4>We're already improved, that's what last.

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<v Speaker 6>They won't hurt profitability going for.

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<v Speaker 4>Well, it might have theoretically in the short run, but

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<v Speaker 4>in the long run, we're super excited and think that

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<v Speaker 4>it's factored into what we need to spend and what

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<v Speaker 4>will monetize if you go back.

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<v Speaker 5>We had all our content on Hulu. We bought the company.

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<v Speaker 4>That was what NBC had committed to before we own

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<v Speaker 4>the company. Then Fox happened and Disney got control of Hulu.

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<v Speaker 4>We worked out a amicable way to extricate, which was

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<v Speaker 4>taking five years. We didn't want to sell our Hulu

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<v Speaker 4>steak until the end of those five years.

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<v Speaker 6>More than years at this point a little bit.

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<v Speaker 4>We're gonna We're going to figure out eventually the end

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<v Speaker 4>and we will have taken We've already taken, you know,

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<v Speaker 4>a lot of billions of dollars out off of several

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<v Speaker 4>hundred million dollar investment and maybe more to come, we hope.

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<v Speaker 4>And so when that's all said, none, we got all

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<v Speaker 4>the content onto Peacock, but we had to start at

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<v Speaker 4>a very late date compared to other streaming codes. So

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<v Speaker 4>our strategy was to take all the sports we had

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<v Speaker 4>and now make them available to people who didn't buy

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<v Speaker 4>the bundle. We're the first ones in a way to

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<v Speaker 4>actually do that, and then later on all the episodes

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<v Speaker 4>and all the seasons and all the all the great

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<v Speaker 4>content that Donna's making and film created a new set

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<v Speaker 4>of windows. Team did a super job where some of

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<v Speaker 4>our content is for four months, all of it's on Peacock.

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<v Speaker 4>The next ten months it goes to either Amazon or Netflix, and.

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<v Speaker 5>Then back to Peacock.

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<v Speaker 4>Nobody had ever done that before, So we've been kind

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<v Speaker 4>of innovating, i think, in the changing industry and the

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<v Speaker 4>changing landscape to work for our set assets to give

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<v Speaker 4>us a very sustainable path to be able to say

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<v Speaker 4>to you that our media business will be profitable, is profitable,

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<v Speaker 4>will continue to be profitable, and I believe will grow

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<v Speaker 4>despite the downward pressure because of the growth of Peacock.

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<v Speaker 3>Right, I'm wondering if you are confident in Peacock on

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<v Speaker 3>its own, not on its own, you know, within your company,

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<v Speaker 3>but as a viable streaming service going forward, why it's

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<v Speaker 3>been publicly reported by Bloomberg and others. You've had conversations

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<v Speaker 3>with other companies about merging streaming services, joint ventures, that

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<v Speaker 3>sort of thing.

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<v Speaker 6>You know, Paramount's certainly been out there. Why have those

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<v Speaker 6>talks if you're a big believer in Peacock.

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<v Speaker 4>Well, there's always just because you reported a Bloomberg I

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<v Speaker 4>mucho say it's accurate, But of course if it's Bloomberg,

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<v Speaker 4>it must be accurate.

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<v Speaker 3>So therefore, well you reference the Journal they also reported.

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<v Speaker 3>I feel like, if both Bloomberg and the Journal are

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<v Speaker 3>reporting something odds, are it's accurate?

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<v Speaker 5>Absolutely so, and throw NBC News in there too.

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<v Speaker 4>So in all seriousness, obviously people are going to say,

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<v Speaker 4>here's a changing landscape, what can I do that would

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<v Speaker 4>advance myself? So conversations are always going to happen they

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<v Speaker 4>happen all businesses all the time. I think it's a

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<v Speaker 4>tough thing to actually get executed because I'm a believer

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<v Speaker 4>coming from where I started my career in cable. My

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<v Speaker 4>first job was selling HBO door to door, one of

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<v Speaker 4>the first jobs, and we had a lot of channels.

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<v Speaker 5>When John Malone said we're going to go to five

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<v Speaker 5>hundred channels, it kind of got laughed about.

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<v Speaker 4>And then the Internet, of course went to Infinity Infinity,

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<v Speaker 4>So the notion that we'd have ten streaming service doesn't

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<v Speaker 4>intimidate me whatsoever. The technology for the consumer is the

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<v Speaker 4>question can I bounce from show to show?

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<v Speaker 3>I'm not sure hard to get from Netflix to Peacock

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<v Speaker 3>to Apple there.

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<v Speaker 4>If you believe that's how it's going to be, then

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<v Speaker 4>that's an issue. I'm coming from a world that we

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<v Speaker 4>went from three channels when my dad started to five

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<v Speaker 4>hundred channels and we had no problem doing that and

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<v Speaker 4>the consumer got used to it. So the question will

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<v Speaker 4>be can we solve that? Well, we have a technology

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<v Speaker 4>which we've licensed to Charter, We've launched the Rogers, we

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<v Speaker 4>doew it with Sky, we do it in Australia, we

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<v Speaker 4>do it in South Africa, where you just talk to

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<v Speaker 4>it and say House of Cards, Sunday night football, Dodgers game, congratulations,

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<v Speaker 4>affilies didn't.

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<v Speaker 5>Do so well yesterday. You just go. It's just like

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<v Speaker 5>changing channels.

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<v Speaker 4>Now somebody will come along and say, well, can I

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<v Speaker 4>buy one subscription and get all these services?

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<v Speaker 5>So I'm not out of luck.

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<v Speaker 4>Well that sounds like cable TV was, so I have

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<v Speaker 4>a bias that I could see it all kind of

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<v Speaker 4>being some form of consumer wants to go where the

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<v Speaker 4>great content is. And if AMC makes a show Breaking Bad,

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<v Speaker 4>and nobody had ever watched AMC before that, perhaps and

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<v Speaker 4>all of a sudden they had AMC and they had

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<v Speaker 4>Breaking Bad, that's the great community here.

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<v Speaker 5>Makes the breakthrough.

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<v Speaker 4>Must have programming, whether that one day is an Olympics

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<v Speaker 4>or one day is a show that I.

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<v Speaker 5>Never knew I wanted, and the word of mouth, and.

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<v Speaker 4>I'm confident that Peacock can play an important role in that.

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<v Speaker 5>And whether we do that.

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<v Speaker 4>With others or by ourselves or in some sort of partnership,

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<v Speaker 4>you know, those are things that right today we're pretty

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<v Speaker 4>happy where we're at.

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<v Speaker 5>But we'll see. We didn't bid on paramount.

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<v Speaker 4>You know, all the press wants to have us do

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<v Speaker 4>something I don't know that we are going to do right.

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<v Speaker 2>That was Comcast NBC Universal Chairman and CEO Brian Roberts

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<v Speaker 2>speaking with Bloomberg's Lucas Shaw from our screen Time event

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<v Speaker 2>in Los Angeles this week. The Summer Olympics helped get

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<v Speaker 2>NBC a boost this year, but it's been a challenging

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<v Speaker 2>year for media stocks. Comcast shares are down roughly six

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<v Speaker 2>percent on the year. Coming up next, how artificial intelligence

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<v Speaker 2>plays into twenty first century entertainment. We'll speak with the

0:12:12.600 --> 0:12:15.640
<v Speaker 2>co creator of South Park about using big tech on

0:12:15.720 --> 0:12:18.880
<v Speaker 2>the small screen as straight Ahead in this special weekend

0:12:19.040 --> 0:12:21.920
<v Speaker 2>edition of Bloomberg Business Week, bringing you some of the

0:12:21.960 --> 0:12:25.800
<v Speaker 2>best conversations from this week's screen Time event in Los Angeles.

0:12:26.200 --> 0:12:28.640
<v Speaker 2>I'm Matt Miller filling in for Carol and Tim, and

0:12:28.760 --> 0:12:30.320
<v Speaker 2>this is Bluebook.

0:12:40.160 --> 0:12:43.760
<v Speaker 1>Everything you love about Bloomberg Radio is now inside your car.

0:12:43.960 --> 0:12:46.640
<v Speaker 1>Download the Bloomberg Business app featuring our Little Car play,

0:12:46.679 --> 0:12:49.040
<v Speaker 1>and then right outo free in the MLAP store or

0:12:49.080 --> 0:12:57.480
<v Speaker 1>on Google Play. This is Bloomberg Business Week with Carol

0:12:57.520 --> 0:13:01.719
<v Speaker 1>Messer and Tim Stenebeck on Bloomberg Radio.

0:13:03.160 --> 0:13:05.960
<v Speaker 2>You're listening to the weekend edition of Bloomberg Business Week.

0:13:06.120 --> 0:13:08.640
<v Speaker 2>I'm Matt Miller, filling in for Carolyn tim who spent

0:13:08.679 --> 0:13:12.600
<v Speaker 2>the week in Los Angeles at Bloomberg screen Time. The

0:13:12.640 --> 0:13:15.800
<v Speaker 2>event focused on the future of entertainment and the impact

0:13:15.920 --> 0:13:19.400
<v Speaker 2>of AI on creative industries, and today we're bringing you

0:13:19.480 --> 0:13:23.160
<v Speaker 2>some of our conversations from the gathering. Up next, we

0:13:23.160 --> 0:13:25.079
<v Speaker 2>speak to the co creator of one of the longest

0:13:25.120 --> 0:13:29.240
<v Speaker 2>running shows on television. Matt Stone helped create South Park

0:13:29.360 --> 0:13:32.559
<v Speaker 2>nearly thirty years ago, and today he continues to offer

0:13:32.600 --> 0:13:36.200
<v Speaker 2>his audience the same fresh, unapologetic humor he did in

0:13:36.280 --> 0:13:39.520
<v Speaker 2>nineteen ninety seven. Now he focuses on keeping the show

0:13:39.640 --> 0:13:44.920
<v Speaker 2>relevant while experimenting with artificial intelligence in his program. For

0:13:44.960 --> 0:13:47.880
<v Speaker 2>more on the future of tech in entertainment, Matt Stone

0:13:47.920 --> 0:13:51.200
<v Speaker 2>sat down with Lucas Shaw this week at Bloomberg screen

0:13:51.320 --> 0:13:54.000
<v Speaker 2>Time in La Let's hear some of that conversation.

0:13:54.160 --> 0:13:56.720
<v Speaker 3>Now, is there an end in sight for the show?

0:13:56.840 --> 0:13:58.439
<v Speaker 3>Or have you guys just reached a point where you're like,

0:13:58.480 --> 0:14:00.720
<v Speaker 3>we're just going to keep doing it. At a certain point,

0:14:00.720 --> 0:14:02.960
<v Speaker 3>maybe we'll get tired of it, but for now we're.

0:14:02.960 --> 0:14:05.079
<v Speaker 7>I think we're gonna No, we don't have an end insight.

0:14:05.080 --> 0:14:08.439
<v Speaker 7>And actually, and I'll say honestly, it's because it's still

0:14:08.520 --> 0:14:11.040
<v Speaker 7>such an awesome sandbox. Yeah. You know, we're working on

0:14:11.080 --> 0:14:12.800
<v Speaker 7>a movie right now, a live action movie. When we

0:14:12.840 --> 0:14:14.839
<v Speaker 7>get back to south Park, it's going to be like, oh, right,

0:14:14.840 --> 0:14:17.560
<v Speaker 7>here we go, like I can't wait to see find

0:14:17.600 --> 0:14:19.720
<v Speaker 7>you know, hang out with those characters again. To be

0:14:19.800 --> 0:14:21.680
<v Speaker 7>cheesy about it, like we love, we love, we love

0:14:21.720 --> 0:14:23.480
<v Speaker 7>doing south Park. And then I think we'll just we

0:14:23.560 --> 0:14:25.800
<v Speaker 7>will last long enough to reach the singularity and pass

0:14:25.840 --> 0:14:26.600
<v Speaker 7>it off to our AI.

0:14:27.200 --> 0:14:29.600
<v Speaker 3>Do you ever because I believe you have a relatively

0:14:29.600 --> 0:14:31.960
<v Speaker 3>friendly relationship with the Simpsons people, right.

0:14:32.160 --> 0:14:34.520
<v Speaker 7>I mean we don't know anybody really personally. I mean,

0:14:34.560 --> 0:14:35.320
<v Speaker 7>you know, but I.

0:14:35.240 --> 0:14:37.760
<v Speaker 3>Think they had you beat by about eight nine years

0:14:37.760 --> 0:14:40.720
<v Speaker 3>something like that. Like do you ever yeah, yeah, these

0:14:40.720 --> 0:14:42.800
<v Speaker 3>two shows that have been on forever. Do you ever

0:14:42.840 --> 0:14:44.840
<v Speaker 3>think like, Okay, we gotta go on longer than Nadi.

0:14:45.040 --> 0:14:48.920
<v Speaker 7>Oh that will be in the AI singularity future, whatever

0:14:48.920 --> 0:14:51.200
<v Speaker 7>the hell that is. No, The Simpsons was an incredibly

0:14:51.600 --> 0:14:53.880
<v Speaker 7>formative show for us. You know, we were in college watching,

0:14:54.000 --> 0:14:56.240
<v Speaker 7>going to bars, watching it along with people along with

0:14:56.280 --> 0:14:58.440
<v Speaker 7>them beave some buttead those were like, oh you can

0:14:58.480 --> 0:15:01.040
<v Speaker 7>do this, you know before before that there was no

0:15:01.120 --> 0:15:02.920
<v Speaker 7>idea that you could do an adult animation.

0:15:03.320 --> 0:15:06.120
<v Speaker 6>Is there a new adult animated show that you really love? Like?

0:15:06.120 --> 0:15:07.840
<v Speaker 3>Have you seen anything new in the last five years

0:15:07.840 --> 0:15:12.000
<v Speaker 3>I'm watching. I don't watch any television really, not like none.

0:15:12.240 --> 0:15:12.600
<v Speaker 6>Why not?

0:15:13.440 --> 0:15:15.640
<v Speaker 7>I got kids, and I got work, and I don't know.

0:15:15.760 --> 0:15:17.840
<v Speaker 7>I don't do anything more valid. I don't do anything. Well, Okay,

0:15:18.640 --> 0:15:19.920
<v Speaker 7>you know, hang out with my friends. You're a gonna

0:15:20.120 --> 0:15:20.480
<v Speaker 7>video game.

0:15:20.560 --> 0:15:22.560
<v Speaker 6>Let's say you go home this weekend, right, you have

0:15:23.160 --> 0:15:27.120
<v Speaker 6>what do you do to relax? I don't know.

0:15:27.160 --> 0:15:27.960
<v Speaker 7>I just don't watch TV.

0:15:28.080 --> 0:15:30.080
<v Speaker 6>I know that's fine, but so what do you do? Okay,

0:15:30.240 --> 0:15:30.600
<v Speaker 6>what is this?

0:15:31.640 --> 0:15:33.440
<v Speaker 7>Go on a hike, hang out with my kids. They're

0:15:33.440 --> 0:15:35.080
<v Speaker 7>coming in town this weekend. I haven't seen them in

0:15:35.080 --> 0:15:37.960
<v Speaker 7>a few weeks. I see my friends, right, I might

0:15:38.040 --> 0:15:41.600
<v Speaker 7>have a drink that's allowed. Yes, I have a smoke. Also,

0:15:41.920 --> 0:15:43.280
<v Speaker 7>might hang out with people. I don't know. I just

0:15:43.320 --> 0:15:45.720
<v Speaker 7>am not a TV person. I really never have been personally,

0:15:46.240 --> 0:15:47.960
<v Speaker 7>and now to get to like if there's anything now,

0:15:47.960 --> 0:15:49.640
<v Speaker 7>I just find the whole thing bewildering. When I turn

0:15:49.680 --> 0:15:52.840
<v Speaker 7>on there's no way I'm when I find I feel

0:15:52.880 --> 0:15:55.840
<v Speaker 7>burned the last couple of TV shows I've gotten into,

0:15:56.360 --> 0:15:58.640
<v Speaker 7>and I do feel like this has been a bual

0:15:58.680 --> 0:16:01.440
<v Speaker 7>of casualty or the problem with the streaming revolution is

0:16:01.480 --> 0:16:03.240
<v Speaker 7>like someone to say, you gotta watch this show. You

0:16:03.240 --> 0:16:05.960
<v Speaker 7>gotta watch Mandalorian, it's so awesome. You gotta watch Battle

0:16:06.000 --> 0:16:08.120
<v Speaker 7>starkal Act, you gotta watch this one show, and I'll

0:16:08.600 --> 0:16:10.600
<v Speaker 7>never watch TV. And I will, and I'll go on,

0:16:10.680 --> 0:16:13.040
<v Speaker 7>I'll start watching it and it's great, and I'm like,

0:16:13.080 --> 0:16:15.200
<v Speaker 7>I am missing something, and then you get into that

0:16:15.240 --> 0:16:19.880
<v Speaker 7>second season and there's that episode that's and I feel

0:16:20.800 --> 0:16:24.280
<v Speaker 7>so betrayed. No, it's no, I don't have a rational

0:16:24.320 --> 0:16:26.080
<v Speaker 7>I'm like, oh, well, you know what the economics they

0:16:26.080 --> 0:16:28.920
<v Speaker 7>really tried. I don't do that. You're wasting my time.

0:16:29.320 --> 0:16:32.120
<v Speaker 7>And that's when I feel like they're them. Know the

0:16:32.160 --> 0:16:35.440
<v Speaker 7>business of the business that this is, the streaming revolution

0:16:35.560 --> 0:16:38.200
<v Speaker 7>is created, is destorying the art of what should be

0:16:38.200 --> 0:16:41.120
<v Speaker 7>being made. Even though I'm irrational about it.

0:16:41.160 --> 0:16:43.480
<v Speaker 3>I'm a cures start because you're talking about season two, right,

0:16:43.600 --> 0:16:44.280
<v Speaker 3>and one of them two.

0:16:44.320 --> 0:16:45.960
<v Speaker 7>As soon as I feel like you're wasting my time,

0:16:46.000 --> 0:16:48.440
<v Speaker 7>I feel completely betrayed because I fell in love with

0:16:48.480 --> 0:16:49.840
<v Speaker 7>something and now I know you're and I just I

0:16:49.840 --> 0:16:52.160
<v Speaker 7>have like a short views and that's that, well one

0:16:52.200 --> 0:16:54.080
<v Speaker 7>about the computer, and then I don't watch TV for

0:16:54.080 --> 0:16:58.120
<v Speaker 7>three more years. That's if anybody knows that is seriously true.

0:16:58.160 --> 0:17:00.240
<v Speaker 3>You know, it's funny because I feel like one of

0:17:00.240 --> 0:17:04.320
<v Speaker 3>the criticisms of streaming services is they cancel shows too quickly.

0:17:04.520 --> 0:17:06.840
<v Speaker 6>Shows never like there's no streaming.

0:17:06.440 --> 0:17:08.840
<v Speaker 3>Show that is in I don't think in like season

0:17:08.920 --> 0:17:12.080
<v Speaker 3>ten or twelve or anything like that. But so what

0:17:12.160 --> 0:17:15.440
<v Speaker 3>part of the process do you feel like streaming has distorted?

0:17:15.720 --> 0:17:17.240
<v Speaker 7>I don't know if it's streaming or like I just

0:17:17.359 --> 0:17:19.480
<v Speaker 7>the and listen, I gotta show this on twenty seven years.

0:17:19.520 --> 0:17:21.040
<v Speaker 7>So you know what am I talking about? I don't know,

0:17:21.119 --> 0:17:23.399
<v Speaker 7>you know, but like it's just when I feel like

0:17:23.480 --> 0:17:25.800
<v Speaker 7>someone's wasting my time and I just I feel like

0:17:25.840 --> 0:17:28.719
<v Speaker 7>that that is part of the butter and bread equation

0:17:28.840 --> 0:17:31.920
<v Speaker 7>that's gotten screwed up in the twenty tens from streaming

0:17:31.920 --> 0:17:34.040
<v Speaker 7>of like, well let's make the bread. This my god, this,

0:17:34.160 --> 0:17:36.320
<v Speaker 7>there's this much butter in the world, or that we're

0:17:36.320 --> 0:17:38.040
<v Speaker 7>gonna do this much bread, and so it doesn't work, right.

0:17:38.119 --> 0:17:40.680
<v Speaker 7>There's just not that much good stuff out there, right,

0:17:40.760 --> 0:17:43.320
<v Speaker 7>because the technologies made it so with editing and photography

0:17:43.359 --> 0:17:47.000
<v Speaker 7>and everything, everything looks glossy and it looks good, and

0:17:47.119 --> 0:17:49.639
<v Speaker 7>you go, Okay, this feels good, and then they fool you,

0:17:49.680 --> 0:17:51.840
<v Speaker 7>and then episode seven you realize you're wasting my time,

0:17:51.960 --> 0:17:54.320
<v Speaker 7>and then again bang, and then I get really mad.

0:17:54.480 --> 0:17:57.119
<v Speaker 6>Do you think that I'm curious?

0:17:57.119 --> 0:17:59.959
<v Speaker 3>Do you worry that AI makes that worse because it

0:18:00.160 --> 0:18:01.679
<v Speaker 3>make it even easier to make stuff?

0:18:02.240 --> 0:18:05.560
<v Speaker 7>I don't know. Yeah, I mean maybe because on the

0:18:05.600 --> 0:18:07.080
<v Speaker 7>other hand, there's a lot of people who are the

0:18:07.080 --> 0:18:09.960
<v Speaker 7>technologies made it so that there's a lot there's a

0:18:10.000 --> 0:18:11.520
<v Speaker 7>lot of cool stuff happening. There's I don't need to

0:18:11.560 --> 0:18:13.400
<v Speaker 7>be a complete grouch. I'm a pretty big grouch when

0:18:13.440 --> 0:18:16.040
<v Speaker 7>someone wastes my time. But if you know, there has

0:18:16.119 --> 0:18:18.080
<v Speaker 7>been a lot of like great stuff, like with YouTube

0:18:18.080 --> 0:18:21.600
<v Speaker 7>and people online. What am I saying, I've seen the tools,

0:18:21.880 --> 0:18:24.600
<v Speaker 7>the tools to make films are so much different than

0:18:24.600 --> 0:18:27.680
<v Speaker 7>when Trey and I started. That's cool. It's cool that

0:18:27.720 --> 0:18:29.080
<v Speaker 7>people can make stuff.

0:18:29.960 --> 0:18:32.480
<v Speaker 3>Like how much does the well, this is maybe going

0:18:32.480 --> 0:18:34.240
<v Speaker 3>in the other direction what you're just saying, like how

0:18:34.320 --> 0:18:36.760
<v Speaker 3>much does the average episode of South Park cost now

0:18:36.840 --> 0:18:37.840
<v Speaker 3>versus when you started?

0:18:38.520 --> 0:18:41.320
<v Speaker 7>Oh, the gazillion times more because Trey and I make

0:18:41.440 --> 0:18:41.800
<v Speaker 7>so much.

0:18:41.960 --> 0:18:47.000
<v Speaker 6>Yeah, you know, I mean you know what I mean.

0:18:47.200 --> 0:18:49.040
<v Speaker 7>Like we were living on couches and you know we're

0:18:49.080 --> 0:18:51.439
<v Speaker 7>literally crashing on our friend's couch when we first started

0:18:51.440 --> 0:18:54.040
<v Speaker 7>making the show, right, you know, now it's quite a

0:18:54.080 --> 0:18:55.760
<v Speaker 7>bit more. Yes, good tray out of bed.

0:18:55.760 --> 0:18:57.040
<v Speaker 3>Is you know, it's not going to get out of

0:18:57.080 --> 0:18:58.800
<v Speaker 3>bed for like you know, Well, the savviest deal you

0:18:58.840 --> 0:19:00.439
<v Speaker 3>ever did was you got fifty per cent of your

0:19:00.440 --> 0:19:01.000
<v Speaker 3>digital rights.

0:19:01.000 --> 0:19:03.040
<v Speaker 7>That yeah, yeah, no, that was a good That was

0:19:03.040 --> 0:19:06.000
<v Speaker 7>a good idea and uh so that turned out to

0:19:06.000 --> 0:19:07.480
<v Speaker 7>be a good idea.

0:19:09.160 --> 0:19:11.600
<v Speaker 3>The company where you've been home for the I mean

0:19:11.640 --> 0:19:13.479
<v Speaker 3>since the sound of the part of South Parke's Paramount

0:19:13.520 --> 0:19:18.520
<v Speaker 3>obviously had a rather bumpy year. What were you guys

0:19:18.600 --> 0:19:21.520
<v Speaker 3>thinking during the sale process? Are you like reading the

0:19:21.560 --> 0:19:23.760
<v Speaker 3>stories that my colleagues and up peers and I are

0:19:23.800 --> 0:19:27.440
<v Speaker 3>writing that are you talking to people like what now?

0:19:28.000 --> 0:19:28.359
<v Speaker 6>Of course?

0:19:28.400 --> 0:19:33.320
<v Speaker 7>I mean yeah, I mean we uh you know what

0:19:33.400 --> 0:19:35.879
<v Speaker 7>happened between those digital rights and between when we went

0:19:35.920 --> 0:19:37.840
<v Speaker 7>and did Book a Mormon with our friend Bobby Lopez

0:19:38.280 --> 0:19:41.159
<v Speaker 7>and just the way Broadway works, is we between that

0:19:41.200 --> 0:19:43.720
<v Speaker 7>and then having enough money and you know, having a

0:19:43.720 --> 0:19:46.240
<v Speaker 7>little bit of savvy, we've we've just we've we've moved

0:19:46.240 --> 0:19:48.960
<v Speaker 7>into we're owners now. We're not for higher you know

0:19:48.960 --> 0:19:51.200
<v Speaker 7>what I mean. We went over that. We we we

0:19:51.359 --> 0:19:53.960
<v Speaker 7>got above that, look above those clouds, you know what

0:19:54.000 --> 0:19:58.280
<v Speaker 7>I mean. So we really, in a way were fortified

0:19:58.320 --> 0:19:59.960
<v Speaker 7>to be okay with whoever is going to buy a parent.

0:20:00.400 --> 0:20:03.400
<v Speaker 7>If someone's gonna buy Paramount and slice it up way

0:20:03.600 --> 0:20:05.680
<v Speaker 7>someone's a buy Paramount, we'll buy south Park back from him.

0:20:05.840 --> 0:20:08.399
<v Speaker 7>Like we're ready to do whatever that said, I'm pretty

0:20:08.440 --> 0:20:10.879
<v Speaker 7>I'm pretty excited about the David Elison.

0:20:10.920 --> 0:20:12.000
<v Speaker 6>And why is that?

0:20:12.960 --> 0:20:14.520
<v Speaker 7>You know, I mean just we've we've met a couple

0:20:14.520 --> 0:20:16.080
<v Speaker 7>of times. I mean, this is again, this is just

0:20:16.119 --> 0:20:17.679
<v Speaker 7>comes from like I think.

0:20:18.320 --> 0:20:20.600
<v Speaker 6>Did you meet before this or as a result.

0:20:20.280 --> 0:20:22.800
<v Speaker 7>Of we met once or twice before and then we've

0:20:22.800 --> 0:20:24.679
<v Speaker 7>met once or twice since the whole thing, and uh,

0:20:26.400 --> 0:20:29.199
<v Speaker 7>you know the grouch and like, you know, he seems

0:20:29.200 --> 0:20:30.040
<v Speaker 7>like someone who.

0:20:30.440 --> 0:20:32.800
<v Speaker 3>The kid of a tech billionaire does feel like someone

0:20:32.840 --> 0:20:34.160
<v Speaker 3>you would make fun of on the show.

0:20:34.200 --> 0:20:39.080
<v Speaker 7>I have to say, not not this one, yeah.

0:20:40.080 --> 0:20:40.159
<v Speaker 6>But.

0:20:41.640 --> 0:20:43.600
<v Speaker 7>No, but he seemed listen, he seems like a guy

0:20:43.600 --> 0:20:46.160
<v Speaker 7>who genuinely is. He's not in He's not and we're

0:20:46.200 --> 0:20:47.879
<v Speaker 7>we've lived at a Paramount and I actually like the

0:20:48.119 --> 0:20:49.600
<v Speaker 7>the current people who work at Paramount we work with,

0:20:49.640 --> 0:20:52.159
<v Speaker 7>I really like. But it's been a bumpy ride through

0:20:52.200 --> 0:20:53.800
<v Speaker 7>the pant Well, you've had the Philip them on, a

0:20:54.320 --> 0:20:58.120
<v Speaker 7>Phil Dowlmon. We got the Phil Dowmon era era where

0:20:58.240 --> 0:21:00.560
<v Speaker 7>this quarter to quarter and just milk thing for what

0:21:00.600 --> 0:21:03.720
<v Speaker 7>it is every quarter. I don't think that's what David

0:21:03.840 --> 0:21:05.879
<v Speaker 7>wants to do. He seems like a guy who's the

0:21:05.920 --> 0:21:08.400
<v Speaker 7>person who's dedicated and the team's dedicated to a long

0:21:08.480 --> 0:21:10.920
<v Speaker 7>term vision and that's what you have to do. These

0:21:11.000 --> 0:21:13.480
<v Speaker 7>like these projects just take a long time. And the

0:21:13.600 --> 0:21:17.240
<v Speaker 7>quantity or quality sorry quality over quantity that I think

0:21:17.280 --> 0:21:20.520
<v Speaker 7>he really believes in will is lines up with what

0:21:20.600 --> 0:21:22.439
<v Speaker 7>Trey and Iron to right. Don't do a lot. We

0:21:22.480 --> 0:21:24.040
<v Speaker 7>hope that what we do is not a waste of

0:21:24.080 --> 0:21:26.440
<v Speaker 7>anybody's time and if it is, okay, we tried, do

0:21:26.480 --> 0:21:28.359
<v Speaker 7>you know what I mean? But we didn't deliberately go

0:21:28.440 --> 0:21:31.680
<v Speaker 7>out to go, hey, like we could make a little

0:21:31.720 --> 0:21:33.520
<v Speaker 7>more bread here and spread that butter out. It's really

0:21:33.520 --> 0:21:35.280
<v Speaker 7>butter bread. That's all I wanted that's my that's my

0:21:35.920 --> 0:21:37.399
<v Speaker 7>really clever analogy today.

0:21:37.480 --> 0:21:41.040
<v Speaker 3>Sorry, so you're not gonna You're not gonna make fun

0:21:41.040 --> 0:21:43.840
<v Speaker 3>of David I did have you ever done Larry Ellison

0:21:43.880 --> 0:21:44.320
<v Speaker 3>on the show.

0:21:44.760 --> 0:21:48.760
<v Speaker 7>No, won't be making fun of him either. He's safer now.

0:21:53.280 --> 0:21:56.240
<v Speaker 3>Other than owners of Paramount, you guys are pretty much

0:21:56.480 --> 0:21:58.440
<v Speaker 3>willing to make fun of anyone or anything. Is there

0:21:58.440 --> 0:22:01.400
<v Speaker 3>anyone or anything you're not interested in touching?

0:22:01.720 --> 0:22:02.080
<v Speaker 5>I don't know.

0:22:02.680 --> 0:22:04.639
<v Speaker 7>We didn't asked so many times, we know, and then

0:22:04.640 --> 0:22:08.200
<v Speaker 7>I know we'll come up. We come up with something. Yeah,

0:22:08.600 --> 0:22:10.840
<v Speaker 7>that's not that's really not where we start from.

0:22:10.920 --> 0:22:13.080
<v Speaker 6>You know, you start from what would be just.

0:22:13.359 --> 0:22:15.359
<v Speaker 7>Like I don't know, it's just what's it's the same,

0:22:15.440 --> 0:22:17.280
<v Speaker 7>what are you right about? It's stuff that's interesting. It's

0:22:17.280 --> 0:22:19.200
<v Speaker 7>like the way that we luckily like that's what I'm saying.

0:22:19.240 --> 0:22:22.240
<v Speaker 7>We have a sandbox and it's so fun to whether

0:22:22.240 --> 0:22:24.520
<v Speaker 7>it's the news or something happens in our life, we

0:22:24.560 --> 0:22:26.560
<v Speaker 7>get to go plan our sandbox. That's how it starts,

0:22:26.600 --> 0:22:29.440
<v Speaker 7>you know, right like making like doing a show about ozempic.

0:22:29.480 --> 0:22:31.800
<v Speaker 7>Like we didn't really make fun of ozempic. We didn't

0:22:31.800 --> 0:22:33.080
<v Speaker 7>make fun you know what I mean? We just found

0:22:33.080 --> 0:22:35.480
<v Speaker 7>all these different angles to come at it and talk

0:22:35.480 --> 0:22:37.280
<v Speaker 7>about it. You know, that's a big that's a big thing,

0:22:37.359 --> 0:22:39.000
<v Speaker 7>that the big change to our world.

0:22:38.840 --> 0:22:41.520
<v Speaker 3>Right, bread and butter ozempic. We have all the Hollywood

0:22:41.520 --> 0:22:42.399
<v Speaker 3>bass pretty.

0:22:42.119 --> 0:22:46.800
<v Speaker 7>Good, right, Yeah, maybe maybe let's Hollywood needs a little

0:22:46.800 --> 0:22:47.399
<v Speaker 7>ozempic to go.

0:22:47.600 --> 0:22:50.200
<v Speaker 3>Did you I'm curious, at any point during the sale process,

0:22:50.200 --> 0:22:52.520
<v Speaker 3>did you guys think about trying to buy south Park back.

0:22:52.560 --> 0:22:54.280
<v Speaker 3>I know I feel like there were, because you know,

0:22:54.920 --> 0:22:59.600
<v Speaker 3>Viacom or Paramount they looked into selling Bet looked into

0:23:00.160 --> 0:23:02.920
<v Speaker 3>selling show Time. I assume that we thought about it,

0:23:03.280 --> 0:23:05.040
<v Speaker 3>like you could have just said we'll buy Comedy Central

0:23:05.040 --> 0:23:05.320
<v Speaker 3>from you.

0:23:05.800 --> 0:23:07.520
<v Speaker 7>We thought about it, you know, I'm not saying we

0:23:07.560 --> 0:23:09.000
<v Speaker 7>thought about buying it like I'm gonna write a check.

0:23:09.000 --> 0:23:10.840
<v Speaker 7>We thought about just doing a press release, like you know,

0:23:10.880 --> 0:23:12.600
<v Speaker 7>some sort of like hey, we're going to make an offer,

0:23:13.119 --> 0:23:14.920
<v Speaker 7>just to be kind of dicks about the whole thing.

0:23:15.080 --> 0:23:16.880
<v Speaker 3>But like you and a few of the other people

0:23:16.960 --> 0:23:19.680
<v Speaker 3>who bid on the company but didn't really bid on the.

0:23:19.760 --> 0:23:21.560
<v Speaker 7>Yeah, I know, we would just been on just on

0:23:21.640 --> 0:23:25.920
<v Speaker 7>South Park and we're we were We went through that scenario,

0:23:26.000 --> 0:23:30.120
<v Speaker 7>but ultimately, like that's not I don't know. As I said,

0:23:30.119 --> 0:23:34.600
<v Speaker 7>I'm excited about Paramount Room retaining remaining intact. I have

0:23:34.640 --> 0:23:36.800
<v Speaker 7>a little you know, teeny, I have a little romanticism

0:23:36.800 --> 0:23:39.719
<v Speaker 7>about Hollywood still because I'm from the before time, from

0:23:40.040 --> 0:23:42.000
<v Speaker 7>when we came to Hollywood, it was still Hollywood, you know.

0:23:42.160 --> 0:23:45.840
<v Speaker 7>Now it's like texall come down here and everything's disorienting,

0:23:45.840 --> 0:23:47.520
<v Speaker 7>and I don't know what a studio is anymore, and

0:23:47.840 --> 0:23:51.119
<v Speaker 7>what distribution is anymore. But the idea that there's a

0:23:51.280 --> 0:23:52.960
<v Speaker 7>lot and the people go to work on the lot,

0:23:53.000 --> 0:23:54.600
<v Speaker 7>and you know, it looks like a backlot and there's

0:23:54.600 --> 0:23:56.760
<v Speaker 7>a guy in the corner he you know, smoking a cigar,

0:23:56.800 --> 0:23:57.560
<v Speaker 7>and he's rich, and.

0:23:57.520 --> 0:23:59.760
<v Speaker 6>That's what you want. I like that.

0:24:00.080 --> 0:24:02.120
<v Speaker 7>Yeah, it's good compared to the tech you know, compared

0:24:02.160 --> 0:24:04.439
<v Speaker 7>to Northern California and tech guys. Yeah, that's I like that,

0:24:04.560 --> 0:24:06.880
<v Speaker 7>you know what I mean. Like I've been lucky enough

0:24:06.880 --> 0:24:08.560
<v Speaker 7>in my life to get to know kind of like

0:24:08.640 --> 0:24:10.399
<v Speaker 7>tech people, and I live in New York now and

0:24:10.400 --> 0:24:12.880
<v Speaker 7>a Wall Street people, you know, and Hollywood, and I'm

0:24:12.920 --> 0:24:16.200
<v Speaker 7>just totally proud to be part of the Hollywood community.

0:24:16.480 --> 0:24:19.560
<v Speaker 3>God, I want to replay that to twenty five year

0:24:19.600 --> 0:24:21.080
<v Speaker 3>old Matt see what he Yes.

0:24:21.119 --> 0:24:22.960
<v Speaker 7>I know it's no after That's what I'm saying. After

0:24:23.000 --> 0:24:25.320
<v Speaker 7>living through all this stuff, like you know, like I'm

0:24:25.320 --> 0:24:29.159
<v Speaker 7>not like the pro is like the most stand up

0:24:29.200 --> 0:24:31.080
<v Speaker 7>place of all these industries.

0:24:31.119 --> 0:24:31.320
<v Speaker 6>Man.

0:24:31.359 --> 0:24:33.840
<v Speaker 3>You know what I mean is that because you are

0:24:33.880 --> 0:24:36.639
<v Speaker 3>an artist and so you feel sort of a kinship

0:24:36.680 --> 0:24:39.480
<v Speaker 3>with other people in that community or do you actually.

0:24:39.240 --> 0:24:40.800
<v Speaker 7>Yeah, it's just at this point now it's like, what

0:24:40.800 --> 0:24:42.240
<v Speaker 7>am I going to do? You know, It's like not

0:24:42.280 --> 0:24:44.080
<v Speaker 7>being a Lakers fan after living here for so long,

0:24:44.119 --> 0:24:46.160
<v Speaker 7>like a bit of it's that a bit off. It's

0:24:46.200 --> 0:24:48.119
<v Speaker 7>just like the way that you know, watching I do

0:24:48.160 --> 0:24:49.919
<v Speaker 7>feel like it's it, and I do feel like not

0:24:49.960 --> 0:24:52.119
<v Speaker 7>to be quite as strident. It's a two way street.

0:24:52.160 --> 0:24:54.639
<v Speaker 7>Like with Northern California and Southern California, you have this

0:24:55.000 --> 0:24:57.040
<v Speaker 7>mutual disrespect of what each other does.

0:24:57.240 --> 0:25:00.399
<v Speaker 2>That was south Park co creator Matt Stones speaking with

0:25:00.440 --> 0:25:03.640
<v Speaker 2>Bloomberg's Lucas Shaw from our screen Time event in Los

0:25:03.680 --> 0:25:06.600
<v Speaker 2>Angeles this week. So far, South Park has run for

0:25:06.640 --> 0:25:09.639
<v Speaker 2>twenty six seasons and compiled a list of more than

0:25:09.720 --> 0:25:13.840
<v Speaker 2>three hundred episodes coming up next. How Netflix stays ahead

0:25:13.840 --> 0:25:16.960
<v Speaker 2>of the competition with its slate of new programming. We'll

0:25:17.000 --> 0:25:20.240
<v Speaker 2>hear from the company's chief content officer. That's straight ahead

0:25:20.240 --> 0:25:23.679
<v Speaker 2>on this special edition of Bloomberg Business Week, bringing you

0:25:23.760 --> 0:25:27.480
<v Speaker 2>conversations from this week's screen Time event in Los Angeles.

0:25:27.840 --> 0:25:30.480
<v Speaker 2>I'm Matt Miller filling in for Carolyn Tim and this

0:25:31.080 --> 0:25:31.720
<v Speaker 2>is Bloomberg.

0:25:41.000 --> 0:25:44.880
<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Tim

0:25:44.920 --> 0:25:48.120
<v Speaker 1>Stenebeck on Bloomberg Radio.

0:25:49.680 --> 0:25:52.400
<v Speaker 2>This is the weekend edition of Bloomberg Business Week. I'm

0:25:52.440 --> 0:25:55.080
<v Speaker 2>Matt Miller filling in for Carol and Tim. They spent

0:25:55.160 --> 0:25:58.760
<v Speaker 2>the week in Los Angeles at Bloomberg screen Time. The

0:25:58.800 --> 0:26:02.840
<v Speaker 2>event brought together celebrities, entrepreneurs, and media executives in the

0:26:02.840 --> 0:26:06.439
<v Speaker 2>heart of Hollywood to discuss the future of entertainment, and

0:26:06.480 --> 0:26:09.520
<v Speaker 2>today we're bringing you some of our conversations from the gathering.

0:26:09.840 --> 0:26:11.639
<v Speaker 2>Up next, we speak with the person in charge of

0:26:11.760 --> 0:26:16.400
<v Speaker 2>programming for the biggest streaming platform in the world, Bella Bajaria,

0:26:16.560 --> 0:26:19.679
<v Speaker 2>is Chief Content Officer at Netflix. The platform is the

0:26:19.720 --> 0:26:23.440
<v Speaker 2>most dominant global force in streaming. Other companies have tried

0:26:23.480 --> 0:26:26.760
<v Speaker 2>to claim the mantle and so far failed. So how

0:26:26.800 --> 0:26:30.080
<v Speaker 2>does Netflix stay ahead of the competition. To try and

0:26:30.080 --> 0:26:33.600
<v Speaker 2>answer that question, Lucas Shaw sat down with Bellabajari at

0:26:33.640 --> 0:26:36.679
<v Speaker 2>Bloomberg's screen Time event in LA this week. Let's hear

0:26:36.760 --> 0:26:37.680
<v Speaker 2>what she had to say.

0:26:38.119 --> 0:26:41.240
<v Speaker 3>You hosted a bunch of agents at Netflix. And I'm

0:26:41.240 --> 0:26:42.760
<v Speaker 3>not going to ask what you think I'm going to ask,

0:26:42.800 --> 0:26:44.520
<v Speaker 3>but you hosted a bunch of agents at Netflix a

0:26:44.560 --> 0:26:46.560
<v Speaker 3>couple weeks ago to show them what you had coming

0:26:47.000 --> 0:26:49.080
<v Speaker 3>and give them, I think, as you described, sort of

0:26:49.080 --> 0:26:49.280
<v Speaker 3>like a.

0:26:49.320 --> 0:26:50.960
<v Speaker 6>Lesson in Netflix. Yeah.

0:26:50.960 --> 0:26:53.520
<v Speaker 3>And I was struck by this because Netflix has been

0:26:53.560 --> 0:26:56.520
<v Speaker 3>around for a decade in terms of original programming. More

0:26:56.560 --> 0:26:59.679
<v Speaker 3>than that, as a company, obviously it's the biggest buyer

0:26:59.800 --> 0:27:04.080
<v Speaker 3>in What is it that your partners don't understand about

0:27:04.119 --> 0:27:05.200
<v Speaker 3>Netflix at this point?

0:27:05.400 --> 0:27:07.560
<v Speaker 8>It's a good question, but I was really hoping you

0:27:07.600 --> 0:27:09.879
<v Speaker 8>were gonna ask me the other question. I'd like to

0:27:09.920 --> 0:27:12.840
<v Speaker 8>set the record straight that a little bit. Look part

0:27:12.880 --> 0:27:16.359
<v Speaker 8>of inviting everybody in to say, like, let's you know,

0:27:16.440 --> 0:27:19.359
<v Speaker 8>talk about the product, let's have marrying Lely, our CMO,

0:27:19.680 --> 0:27:22.399
<v Speaker 8>you know, talk about marketing and our social channels, and

0:27:22.440 --> 0:27:25.040
<v Speaker 8>me sort of just doing the here's Netflix, here's what

0:27:25.080 --> 0:27:25.359
<v Speaker 8>we do.

0:27:25.520 --> 0:27:27.520
<v Speaker 9>The reason is really twofold one.

0:27:27.760 --> 0:27:29.760
<v Speaker 8>Those are our partners, right, and we know if they

0:27:29.840 --> 0:27:32.760
<v Speaker 8>understand our business or what we're trying to do. They

0:27:32.800 --> 0:27:36.399
<v Speaker 8>also can help guide their talent and understand what Netflix is.

0:27:36.440 --> 0:27:38.440
<v Speaker 9>And the reason that I wanted.

0:27:38.119 --> 0:27:40.920
<v Speaker 8>To do it was I think there's still a lot

0:27:40.960 --> 0:27:44.080
<v Speaker 8>of people in our business who still can sort of

0:27:44.119 --> 0:27:47.600
<v Speaker 8>understand like linear network or legacy media companies, and then

0:27:47.640 --> 0:27:49.840
<v Speaker 8>they try to squint and go, oh, but you do

0:27:49.920 --> 0:27:51.520
<v Speaker 8>it this way, but why can't and they can only

0:27:51.560 --> 0:27:54.000
<v Speaker 8>relate to sort of this old fashioned way of the business, right,

0:27:54.040 --> 0:27:57.200
<v Speaker 8>that kind of model. And it was really to say,

0:27:57.480 --> 0:28:00.720
<v Speaker 8>we're a pure play streamer. We're a subscription business. We

0:28:00.800 --> 0:28:03.480
<v Speaker 8>only make film, TV and games. This is the business

0:28:03.480 --> 0:28:06.960
<v Speaker 8>we're in. We care about consumer choice and control. We

0:28:07.160 --> 0:28:10.719
<v Speaker 8>launch things all at once. Here's our huge audience. It's

0:28:10.720 --> 0:28:12.400
<v Speaker 8>almost you know, it's like, let's say, you know, it's

0:28:12.640 --> 0:28:16.480
<v Speaker 8>six hundred million people and we're not this or that,

0:28:16.560 --> 0:28:19.040
<v Speaker 8>because I think people really want to sort of just

0:28:19.080 --> 0:28:20.880
<v Speaker 8>go do make this kind of movie or this kind

0:28:20.920 --> 0:28:23.679
<v Speaker 8>of show. That's a very narrow way of looking at it.

0:28:23.920 --> 0:28:27.639
<v Speaker 8>We are programming for six hundred million people around the world,

0:28:27.680 --> 0:28:29.920
<v Speaker 8>with lots of different tastes, lots of different cultures, lots

0:28:29.920 --> 0:28:32.439
<v Speaker 8>of different languages, and it's never been done before, and

0:28:32.520 --> 0:28:34.040
<v Speaker 8>so it was a little bit of a can we

0:28:34.040 --> 0:28:36.280
<v Speaker 8>do Netflix one on one to just understand, this is

0:28:36.359 --> 0:28:38.640
<v Speaker 8>our business. We're just in a different business and our

0:28:38.640 --> 0:28:41.480
<v Speaker 8>model is different. And so it was more that here's

0:28:41.520 --> 0:28:44.440
<v Speaker 8>a peek behind the curtain. We're partners with you, and

0:28:44.480 --> 0:28:47.800
<v Speaker 8>we want to make sure that we share this information

0:28:47.880 --> 0:28:49.560
<v Speaker 8>and kind of set the table of what we're trying

0:28:49.600 --> 0:28:51.880
<v Speaker 8>to do and our aspiration to make amazing filming and

0:28:51.880 --> 0:28:53.640
<v Speaker 8>TV all around the world, and why we do it

0:28:53.680 --> 0:28:54.040
<v Speaker 8>this way.

0:28:54.280 --> 0:28:55.720
<v Speaker 6>Okay, you can talk about the thing you wanted to

0:28:55.720 --> 0:28:57.040
<v Speaker 6>talk about a few I don't want.

0:28:56.920 --> 0:28:58.360
<v Speaker 8>To talk about it, but you all want to talk

0:28:58.400 --> 0:28:59.800
<v Speaker 8>about it, so I'm going to talk about it.

0:29:00.400 --> 0:29:05.040
<v Speaker 3>What Bella's referencing is there's been this belief or you

0:29:05.080 --> 0:29:07.760
<v Speaker 3>have started to adjust the way that you pay talent

0:29:07.840 --> 0:29:11.680
<v Speaker 3>on certain movies, and there is a movement across Hollywood

0:29:11.760 --> 0:29:13.720
<v Speaker 3>right now, I would say, among the streaming services to

0:29:13.760 --> 0:29:17.320
<v Speaker 3>reevaluate how they pay talent, because it used to be

0:29:17.360 --> 0:29:19.800
<v Speaker 3>you'd buy all the rights up front and there wouldn't

0:29:19.800 --> 0:29:20.400
<v Speaker 3>really be back end.

0:29:20.400 --> 0:29:22.040
<v Speaker 6>Maybe you get a bonus if you know, you get.

0:29:21.840 --> 0:29:24.160
<v Speaker 3>Nominated for an award something fancy like that, but not

0:29:24.480 --> 0:29:27.520
<v Speaker 3>traditional ownership back end. A lot of people think that

0:29:27.560 --> 0:29:30.840
<v Speaker 3>you're going there in television and you don't want to

0:29:30.880 --> 0:29:31.280
<v Speaker 3>go there?

0:29:31.480 --> 0:29:32.240
<v Speaker 6>Is that? Am I?

0:29:33.240 --> 0:29:35.560
<v Speaker 8>Yeah, so okay, let's do okay, we're going to back

0:29:35.600 --> 0:29:38.040
<v Speaker 8>up for a second. So I get that the press

0:29:38.400 --> 0:29:40.960
<v Speaker 8>really wants to write about the story, right and everybody

0:29:41.000 --> 0:29:43.160
<v Speaker 8>wants there to be a story there. I understand that

0:29:43.400 --> 0:29:46.719
<v Speaker 8>is clearly evidenced by what's been written, including total fabrications

0:29:46.720 --> 0:29:48.280
<v Speaker 8>about meetings that were about it, which is.

0:29:48.240 --> 0:29:48.960
<v Speaker 9>Just not true.

0:29:49.520 --> 0:29:52.040
<v Speaker 8>And we like our model, and we like our model

0:29:52.040 --> 0:29:56.240
<v Speaker 8>in film and TV and on the film site, even

0:29:56.280 --> 0:29:57.600
<v Speaker 8>which a lot has been written about.

0:29:57.920 --> 0:29:59.040
<v Speaker 9>We are not changing our model.

0:29:59.160 --> 0:30:01.640
<v Speaker 8>Our model works great for talent, or it works great

0:30:01.680 --> 0:30:03.520
<v Speaker 8>for filmmakers, it's work well for us.

0:30:03.560 --> 0:30:04.880
<v Speaker 9>We like the model, it's worked for.

0:30:04.880 --> 0:30:09.400
<v Speaker 8>A long time, so we are not changing our compensation model.

0:30:09.640 --> 0:30:13.200
<v Speaker 8>There have been a few bespoke deals on a couple

0:30:13.240 --> 0:30:16.080
<v Speaker 8>of movies the talent that some talent was interested in

0:30:16.120 --> 0:30:18.080
<v Speaker 8>the opportunity of, like we'll take some risks, we're going

0:30:18.120 --> 0:30:20.360
<v Speaker 8>to share a more upside, and they were interested in that.

0:30:20.720 --> 0:30:23.000
<v Speaker 9>But just inside the record trait, I can count those.

0:30:23.280 --> 0:30:24.760
<v Speaker 8>I can't even say handful because I can count them

0:30:24.760 --> 0:30:25.200
<v Speaker 8>on a hand.

0:30:25.040 --> 0:30:26.560
<v Speaker 9>But I can actually count them on two fingers.

0:30:26.720 --> 0:30:30.040
<v Speaker 8>So it's very tiny thing that has blown up to

0:30:30.200 --> 0:30:31.760
<v Speaker 8>this story of we're changing our business.

0:30:31.840 --> 0:30:34.680
<v Speaker 9>Well, we're not in TV. We have not done one

0:30:34.720 --> 0:30:36.240
<v Speaker 9>of those deals, So that's just not true.

0:30:36.400 --> 0:30:37.880
<v Speaker 3>Don't you think that some of that has to do

0:30:37.920 --> 0:30:40.160
<v Speaker 3>with the fact that Netflix says we're not going to

0:30:40.200 --> 0:30:43.360
<v Speaker 3>do X and then they eventually do it. Right, there's

0:30:43.360 --> 0:30:46.080
<v Speaker 3>like a something you know you aren't going to do advertising,

0:30:46.120 --> 0:30:47.640
<v Speaker 3>then you do all these that you are going to

0:30:47.680 --> 0:30:50.160
<v Speaker 3>do password, you are allowed passior of sharing, then you don't,

0:30:50.200 --> 0:30:52.160
<v Speaker 3>and so people assume that this is a sign and

0:30:52.200 --> 0:30:53.960
<v Speaker 3>that's another one of those where you're saying no.

0:30:54.280 --> 0:30:56.960
<v Speaker 8>But so I think what's interesting about that is, oh,

0:30:57.000 --> 0:30:58.680
<v Speaker 8>you said you went into advertisy, you know you're doing

0:30:58.680 --> 0:31:01.600
<v Speaker 8>what I was benfascinating about that. Isn't that amazing that

0:31:01.680 --> 0:31:04.440
<v Speaker 8>we actually would say something. We learn, the business evolves,

0:31:04.440 --> 0:31:06.479
<v Speaker 8>the business grow, we understand the business, and we change.

0:31:06.560 --> 0:31:08.960
<v Speaker 8>We don't say rigid and the we said this publicly,

0:31:09.160 --> 0:31:11.120
<v Speaker 8>so we're not going to go back on something I

0:31:11.280 --> 0:31:13.520
<v Speaker 8>love by the way that I mean read was here

0:31:13.560 --> 0:31:15.440
<v Speaker 8>doing that time. But as a company, we'd say oh,

0:31:15.480 --> 0:31:16.960
<v Speaker 8>we thought we weren't going to do this, and now

0:31:17.000 --> 0:31:20.960
<v Speaker 8>the businesses evolved, we understand more. Later's all of this change,

0:31:20.960 --> 0:31:23.000
<v Speaker 8>and then we're willing to change. We're willing to pivot

0:31:23.040 --> 0:31:25.880
<v Speaker 8>and grow and evolve and innovate instead of saying this

0:31:25.960 --> 0:31:28.240
<v Speaker 8>has always always been done and we can never change it,

0:31:28.440 --> 0:31:30.520
<v Speaker 8>or we've said it publicly, so won't do it. So

0:31:30.520 --> 0:31:33.080
<v Speaker 8>what I love actually about the company is that we

0:31:33.120 --> 0:31:35.280
<v Speaker 8>will sort of change and we will innovate, and we

0:31:35.320 --> 0:31:37.920
<v Speaker 8>will say those things and we will sort of just go, Okay,

0:31:38.080 --> 0:31:39.680
<v Speaker 8>maybe we're wrong then or the business that was the

0:31:39.720 --> 0:31:41.840
<v Speaker 8>right decision then, and now this is the right decision now.

0:31:41.880 --> 0:31:44.400
<v Speaker 8>I think that's like an amazing thing. That's what makes

0:31:44.440 --> 0:31:48.120
<v Speaker 8>a very dynamic company, you know, to do Let's make

0:31:48.160 --> 0:31:50.640
<v Speaker 8>local language filming TV all around the world has never

0:31:50.680 --> 0:31:51.360
<v Speaker 8>been done before.

0:31:51.440 --> 0:31:52.280
<v Speaker 9>We sort of did it.

0:31:52.360 --> 0:31:55.960
<v Speaker 8>So I actually love that part that we will publicly

0:31:56.040 --> 0:31:57.240
<v Speaker 8>go Okay, we've learned more of.

0:31:57.160 --> 0:31:59.200
<v Speaker 9>The business change, so we're gonna change.

0:31:59.440 --> 0:32:02.320
<v Speaker 8>Maybe that's the reason everybody wants to write press stories

0:32:02.320 --> 0:32:04.760
<v Speaker 8>that are not accurate. Maybe I mean, I mean, you

0:32:04.800 --> 0:32:06.480
<v Speaker 8>tell me, maybe that's why everybody.

0:32:06.160 --> 0:32:07.080
<v Speaker 9>Wants to talk about it.

0:32:07.320 --> 0:32:10.520
<v Speaker 8>But I'm just saying, just so everybody is clear, there's

0:32:10.560 --> 0:32:14.320
<v Speaker 8>been one title. Really maybe to to is not even official.

0:32:14.360 --> 0:32:17.440
<v Speaker 8>Actually we've ever done. And if you look at all

0:32:17.480 --> 0:32:19.760
<v Speaker 8>the movies of Dan, Linda's Greenlit, which is quite a

0:32:19.760 --> 0:32:21.040
<v Speaker 8>bit has been happened.

0:32:21.080 --> 0:32:23.600
<v Speaker 9>So I just think there's there's no story there.

0:32:23.600 --> 0:32:25.680
<v Speaker 8>And I know it's such a bummer for some of

0:32:25.680 --> 0:32:27.760
<v Speaker 8>your friends and colleagues because they want to write about it.

0:32:27.800 --> 0:32:32.440
<v Speaker 6>I'm curious, Okay, I'm sorry what you brought.

0:32:32.280 --> 0:32:34.640
<v Speaker 3>Up, Dan and movies, which I feel like has gotten

0:32:34.680 --> 0:32:37.800
<v Speaker 3>a lot of attention this year. You come from the

0:32:37.840 --> 0:32:40.680
<v Speaker 3>world of TV. For eighty million dollars, you can make

0:32:40.800 --> 0:32:43.000
<v Speaker 3>eight episodes of a TV show, you can make a movie.

0:32:43.320 --> 0:32:45.800
<v Speaker 3>I feel like for Netflix, a TV show is generally

0:32:45.800 --> 0:32:49.320
<v Speaker 3>more economical than the movie. Why are you guys still

0:32:49.440 --> 0:32:51.239
<v Speaker 3>in the movie business? Like what it's the value that

0:32:51.280 --> 0:32:53.120
<v Speaker 3>Netflix gets from original movies.

0:32:53.440 --> 0:32:55.320
<v Speaker 8>Oh, I think that's too narrow a way to look

0:32:55.320 --> 0:32:59.400
<v Speaker 8>at it, because it's not. Also, it's not about like economical.

0:32:59.560 --> 0:33:04.200
<v Speaker 8>It's members all around the world love movies and love

0:33:04.280 --> 0:33:07.640
<v Speaker 8>TV shows, and love nonfiction and love docs right, and

0:33:07.640 --> 0:33:09.240
<v Speaker 8>and love some of you know these lot of events

0:33:09.240 --> 0:33:14.520
<v Speaker 8>we do, so we are pleasing and making all of

0:33:14.560 --> 0:33:15.160
<v Speaker 8>those things with.

0:33:15.160 --> 0:33:16.560
<v Speaker 9>A great variety of what we do.

0:33:16.640 --> 0:33:19.520
<v Speaker 8>And people love movies. We love movies, and people love movies,

0:33:19.840 --> 0:33:21.880
<v Speaker 8>and so I don't think I think looking at like

0:33:22.200 --> 0:33:23.120
<v Speaker 8>cost in that.

0:33:23.040 --> 0:33:24.680
<v Speaker 9>Way is sort of the wrong way to look at

0:33:24.680 --> 0:33:25.120
<v Speaker 9>the business.

0:33:25.480 --> 0:33:27.520
<v Speaker 8>I really look at it as we know people love movies,

0:33:27.720 --> 0:33:31.600
<v Speaker 8>and so we should make lots of movies. And Dan's

0:33:31.920 --> 0:33:34.320
<v Speaker 8>which I am excited about, sort of Dan, you know,

0:33:34.360 --> 0:33:37.520
<v Speaker 8>coming in, he's really thoughtful about the quality.

0:33:37.600 --> 0:33:39.080
<v Speaker 9>He's really been thoughtful about.

0:33:39.280 --> 0:33:42.160
<v Speaker 8>There's lots of different kinds of genres, right, of movies

0:33:42.200 --> 0:33:45.600
<v Speaker 8>that we know audiences love, and really trying to be

0:33:45.640 --> 0:33:47.200
<v Speaker 8>able to like program.

0:33:46.800 --> 0:33:47.480
<v Speaker 9>For all of those.

0:33:47.600 --> 0:33:49.840
<v Speaker 8>And then if you take that, and then we have

0:33:50.080 --> 0:33:52.440
<v Speaker 8>you know, pay one deals and then the acquisitions where

0:33:52.440 --> 0:33:56.520
<v Speaker 8>we just acquired you know, Amelie Perez and Maracalis and

0:33:56.600 --> 0:33:58.400
<v Speaker 8>movies and that we're also excited about if you look

0:33:58.400 --> 0:33:59.160
<v Speaker 8>at the entire slate.

0:33:59.560 --> 0:34:02.840
<v Speaker 9>So I just think it's really important that.

0:34:04.280 --> 0:34:07.400
<v Speaker 8>Giving audiences lots of different kinds of things that we

0:34:07.440 --> 0:34:09.600
<v Speaker 8>know they love, so it wouldn't be it's not I

0:34:09.680 --> 0:34:11.680
<v Speaker 8>think looking at it through cost.

0:34:12.080 --> 0:34:13.920
<v Speaker 3>I only bring up cost because look, you guys have

0:34:14.280 --> 0:34:15.680
<v Speaker 3>your seventeen billion dollars.

0:34:15.680 --> 0:34:17.240
<v Speaker 6>You've talked about like this is a budget.

0:34:17.440 --> 0:34:20.240
<v Speaker 9>He just says seventeen billion, Like it's nothing. Seventeen billions.

0:34:20.280 --> 0:34:23.600
<v Speaker 3>No, but if you put one in that if something

0:34:23.640 --> 0:34:26.680
<v Speaker 3>is relatively static, if you spend money on one thing,

0:34:26.719 --> 0:34:29.640
<v Speaker 3>you can't spend money on another thing, right, Brian. Their

0:34:29.680 --> 0:34:32.239
<v Speaker 3>budget may change, But Brian Roberts just commits two and

0:34:32.280 --> 0:34:33.840
<v Speaker 3>a half billion dollars a year the NBA.

0:34:33.960 --> 0:34:34.279
<v Speaker 6>Guess what.

0:34:34.400 --> 0:34:36.680
<v Speaker 3>Some of that money's coming out of entertainment programming because

0:34:36.680 --> 0:34:38.479
<v Speaker 3>he's not just adding two and a half billion dollars

0:34:38.520 --> 0:34:41.160
<v Speaker 3>to the budget. You guys, you brought up live, you're

0:34:41.200 --> 0:34:43.520
<v Speaker 3>investing in some live rights will get there. That's got

0:34:43.520 --> 0:34:46.080
<v Speaker 3>to come out of somewhere, right, Yeah.

0:34:45.480 --> 0:34:46.920
<v Speaker 9>And that was rid of the train of to make.

0:34:46.960 --> 0:34:49.759
<v Speaker 8>But I'd say we make film and TV, right, I

0:34:49.760 --> 0:34:51.600
<v Speaker 8>mean that is sort of Film is a very important

0:34:51.600 --> 0:34:52.640
<v Speaker 8>part of entertainment.

0:34:52.760 --> 0:34:55.520
<v Speaker 9>And so it's not like that like, oh, let's make

0:34:55.520 --> 0:34:56.000
<v Speaker 9>one less one.

0:34:56.280 --> 0:34:58.360
<v Speaker 8>We just know that we want great films, and we

0:34:58.400 --> 0:35:00.800
<v Speaker 8>want an amazing slate of films of all different kinds,

0:35:00.840 --> 0:35:03.040
<v Speaker 8>and we know there's lots of different genres and so

0:35:03.120 --> 0:35:06.319
<v Speaker 8>it's just an an it's an essential part of like

0:35:06.320 --> 0:35:08.000
<v Speaker 8>great programming is to have amazing films.

0:35:08.600 --> 0:35:10.760
<v Speaker 6>You have a Knives Out sequel next year, right?

0:35:10.840 --> 0:35:14.279
<v Speaker 3>We do you have a what the Greta Gerwig movie?

0:35:14.760 --> 0:35:15.000
<v Speaker 6>Yeah?

0:35:15.200 --> 0:35:16.799
<v Speaker 9>Yeah, I mean we have started shooting at button.

0:35:16.840 --> 0:35:19.880
<v Speaker 8>Knives Out is already shooting, and we have you know,

0:35:19.920 --> 0:35:22.080
<v Speaker 8>we have so I mean we have Franken Seimagueramo del.

0:35:21.960 --> 0:35:22.640
<v Speaker 9>Tour next year.

0:35:22.760 --> 0:35:24.759
<v Speaker 3>I'm was curious on Knives Out because that one became

0:35:24.800 --> 0:35:26.480
<v Speaker 3>sort of full crim of this, Like people love to

0:35:26.480 --> 0:35:28.520
<v Speaker 3>ask about Netflix and movie Peters, and I feel like

0:35:28.880 --> 0:35:31.880
<v Speaker 3>Ted has sort of established this is our policy. But

0:35:31.960 --> 0:35:34.360
<v Speaker 3>you speak of exceptions, you give like Knives Out a

0:35:34.400 --> 0:35:36.600
<v Speaker 3>big theatrical push like you did the last one.

0:35:37.680 --> 0:35:39.520
<v Speaker 9>We are really committed.

0:35:39.520 --> 0:35:41.120
<v Speaker 8>And again I think when we're talking about our model,

0:35:41.120 --> 0:35:42.120
<v Speaker 8>which is we talked about.

0:35:41.920 --> 0:35:43.480
<v Speaker 9>At the beginning of it, is that.

0:35:44.840 --> 0:35:47.719
<v Speaker 8>We're a subscription business and our members love movies, and

0:35:47.800 --> 0:35:50.440
<v Speaker 8>our members want to watch great movies at home in

0:35:50.480 --> 0:35:53.240
<v Speaker 8>their living rooms, and so we're very committed to movies.

0:35:53.800 --> 0:35:58.240
<v Speaker 8>But for us, what really we know people audiences love movies,

0:35:58.320 --> 0:35:59.959
<v Speaker 8>and we know they like to watch them at home,

0:36:00.080 --> 0:36:02.879
<v Speaker 8>and we do care about consumer choice and control. They

0:36:02.920 --> 0:36:05.399
<v Speaker 8>want to watch what they want, when they want, how

0:36:05.440 --> 0:36:08.880
<v Speaker 8>they want, and we want to give great theatrical quality

0:36:08.920 --> 0:36:11.840
<v Speaker 8>movies direct to the living rooms of our members.

0:36:11.920 --> 0:36:14.480
<v Speaker 9>Right, that is sort of what we're doing. That's the model.

0:36:14.480 --> 0:36:17.160
<v Speaker 9>And that was a little bit about the here's here's

0:36:17.160 --> 0:36:17.759
<v Speaker 9>what we do.

0:36:18.280 --> 0:36:20.399
<v Speaker 8>And I know people want to just go but these

0:36:20.400 --> 0:36:21.520
<v Speaker 8>other people do it this way.

0:36:21.560 --> 0:36:22.920
<v Speaker 9>Why can't you do it this way? We're just in

0:36:22.920 --> 0:36:23.800
<v Speaker 9>a different business.

0:36:23.920 --> 0:36:24.280
<v Speaker 6>Okay.

0:36:25.200 --> 0:36:27.640
<v Speaker 3>Something that you are now doing that a lot of

0:36:27.640 --> 0:36:29.799
<v Speaker 3>other people do is live. You're going to start showing

0:36:29.840 --> 0:36:31.640
<v Speaker 3>wrestling every week next year. This is a big deal

0:36:31.680 --> 0:36:35.920
<v Speaker 3>for you. Why is a company that's so synonymous with

0:36:36.040 --> 0:36:38.560
<v Speaker 3>on demand doing more live programming? And why did you

0:36:38.600 --> 0:36:39.760
<v Speaker 3>want wrestling in particular?

0:36:40.640 --> 0:36:43.600
<v Speaker 8>So, look what I love about just live? It was

0:36:43.719 --> 0:36:47.520
<v Speaker 8>just kind of it's just kind of an expansion of programming. Right,

0:36:47.560 --> 0:36:50.879
<v Speaker 8>There's certain types of things that just feel like they

0:36:50.920 --> 0:36:53.920
<v Speaker 8>can be they're kind of more exciting live or you know,

0:36:53.960 --> 0:36:55.440
<v Speaker 8>I'd say, look, they're Tom Brady roast.

0:36:55.560 --> 0:36:57.319
<v Speaker 9>We would have done a Rigorlo's live or not live.

0:36:57.360 --> 0:37:02.200
<v Speaker 8>I think making it live had a fun, unpredictable energy

0:37:02.400 --> 0:37:04.200
<v Speaker 8>conversation around what that was.

0:37:04.480 --> 0:37:06.560
<v Speaker 9>I'd say sort of early days of even unscripted.

0:37:06.640 --> 0:37:09.520
<v Speaker 8>There's some unscripted shows that really have like this great

0:37:09.680 --> 0:37:12.640
<v Speaker 8>kind of live component to it, or there's more sort

0:37:12.640 --> 0:37:15.160
<v Speaker 8>of fan engagement with certain kinds of things, And so

0:37:15.600 --> 0:37:18.600
<v Speaker 8>to me, live was just a different you know, it's

0:37:18.640 --> 0:37:21.640
<v Speaker 8>just kind of another tool that we have of like,

0:37:21.880 --> 0:37:24.440
<v Speaker 8>is this thing creatively about our live Is this a

0:37:24.440 --> 0:37:27.319
<v Speaker 8>different kind of programming right we can do, which then

0:37:27.400 --> 0:37:30.920
<v Speaker 8>obviously did lead to WWE.

0:37:30.960 --> 0:37:34.400
<v Speaker 2>That was Netflix Chief Content Officer Bella Bajaria speaking with

0:37:34.400 --> 0:37:37.480
<v Speaker 2>Bloomberg's Lucas Shaw from our screen Time event in Los

0:37:37.520 --> 0:37:40.680
<v Speaker 2>Angeles this week. You're listening to a special edition of

0:37:40.680 --> 0:37:44.040
<v Speaker 2>Bloomberg Business Week bringing you some of the best conversations

0:37:44.040 --> 0:37:46.879
<v Speaker 2>from this week's screen Time event in Los Angeles, where

0:37:46.880 --> 0:37:50.160
<v Speaker 2>we gathered celebrities and media executives to discuss the future

0:37:50.400 --> 0:37:54.080
<v Speaker 2>of entertainment. Coming up next on the show, how Amazon

0:37:54.200 --> 0:37:57.799
<v Speaker 2>Prime Video is targeting a growing share of the streaming pie,

0:37:58.600 --> 0:38:03.000
<v Speaker 2>Plus the changing landscape of sports media and what it

0:38:03.040 --> 0:38:06.120
<v Speaker 2>takes to make it in today's music industry. That's all

0:38:06.160 --> 0:38:09.680
<v Speaker 2>straight ahead on this special weekend edition of Bloomberg Business Week,

0:38:10.000 --> 0:38:13.600
<v Speaker 2>bringing you conversations from Bloomberg's screen Time event in Los Angeles.

0:38:13.800 --> 0:38:15.359
<v Speaker 2>I'm Matt Miller filling in.

0:38:15.320 --> 0:38:16.280
<v Speaker 10>For Carol and Tim.

0:38:16.719 --> 0:38:19.920
<v Speaker 2>Stay with us. Today's top stories and global business headlines

0:38:19.920 --> 0:38:21.600
<v Speaker 2>are coming up right now.

0:38:27.480 --> 0:38:31.880
<v Speaker 1>This is Bloomberg Business Week inside from the reporters and

0:38:32.040 --> 0:38:35.640
<v Speaker 1>editors who bring you America's most trusted business magazine, plus

0:38:35.719 --> 0:38:39.000
<v Speaker 1>global business, finance and tech news. As it happened this

0:38:39.080 --> 0:38:43.440
<v Speaker 1>Bloomberg Business Week with Carol Messer and Tim Stenebeck on

0:38:43.800 --> 0:38:44.800
<v Speaker 1>Bloomberg Radio.

0:38:46.480 --> 0:38:49.799
<v Speaker 2>This is the weekend edition of Bloomberg Business Week. I'm

0:38:49.800 --> 0:38:52.680
<v Speaker 2>Matt Miller filling in for Carol and Tim. They spent

0:38:52.680 --> 0:38:55.920
<v Speaker 2>the week in La at Bloomberg screen Time. The event

0:38:56.000 --> 0:38:59.839
<v Speaker 2>brought together celebrities, entrepreneurs, and media executives in the heart

0:38:59.840 --> 0:39:03.520
<v Speaker 2>of Hollywood to discuss the future of entertainment. And today

0:39:03.520 --> 0:39:05.359
<v Speaker 2>we're going to bring you some of the most influential

0:39:05.440 --> 0:39:08.799
<v Speaker 2>conversations from the gathering. Coming up this hour, we'll tell

0:39:08.800 --> 0:39:12.040
<v Speaker 2>you about the changing landscape of sports media, plus what

0:39:12.080 --> 0:39:14.799
<v Speaker 2>it takes to make it in today's music industry. But

0:39:14.920 --> 0:39:18.200
<v Speaker 2>first a look at how Amazon Prime Video is targeting

0:39:18.280 --> 0:39:21.319
<v Speaker 2>a growing share of the streaming pie. Mike Hopkins heads

0:39:21.360 --> 0:39:25.440
<v Speaker 2>up Amazon Prime Video and Amazon MGM Studios. After a

0:39:25.440 --> 0:39:28.640
<v Speaker 2>hefty dose of investment. Amazon now holds a top spot

0:39:28.719 --> 0:39:32.920
<v Speaker 2>among global market streamers. Now its focuses on grabbing more

0:39:33.040 --> 0:39:37.200
<v Speaker 2>hit shows, live sports content, and expanding in emerging markets.

0:39:37.360 --> 0:39:40.560
<v Speaker 2>Hopkins joined Bloomberg's Carolyn Hyde at the Bloomberg screen Time

0:39:40.600 --> 0:39:43.600
<v Speaker 2>event in LA to share his vision for Amazon's future

0:39:43.600 --> 0:39:46.000
<v Speaker 2>streaming plans. Let's listen to that conversation.

0:39:46.200 --> 0:39:50.400
<v Speaker 11>Now, you have been so busy, Mike, and I just

0:39:50.440 --> 0:39:52.480
<v Speaker 11>want to go over like what twenty twenty four is

0:39:52.480 --> 0:39:52.920
<v Speaker 11>meant to you.

0:39:53.320 --> 0:39:56.080
<v Speaker 12>There's not much on the internet about.

0:39:55.840 --> 0:39:58.719
<v Speaker 11>Someone who has the one of the biggest jobs in entertainment.

0:39:58.800 --> 0:40:01.200
<v Speaker 12>You we call it humble, we called it smart.

0:40:01.239 --> 0:40:04.000
<v Speaker 11>But I've been rifling through your back history and I

0:40:04.040 --> 0:40:08.000
<v Speaker 11>know that you first started selling door to door ads basically,

0:40:08.080 --> 0:40:10.040
<v Speaker 11>and now we're back doing ads. But before we get

0:40:10.080 --> 0:40:12.560
<v Speaker 11>into ads, I want to hear about what a mega

0:40:12.640 --> 0:40:13.160
<v Speaker 11>year it's been.

0:40:13.480 --> 0:40:15.919
<v Speaker 13>Yeah, thank you, well, thanks for having me. It's nice

0:40:15.920 --> 0:40:16.839
<v Speaker 13>to meet you in person too.

0:40:16.880 --> 0:40:17.080
<v Speaker 6>Yeah.

0:40:17.160 --> 0:40:20.080
<v Speaker 13>Same, Yeah, it's been a big year for us. We

0:40:20.160 --> 0:40:22.560
<v Speaker 13>you know, a lot of it obviously was the groundwork

0:40:22.680 --> 0:40:24.799
<v Speaker 13>was laid over the last three or four years. But

0:40:25.280 --> 0:40:27.400
<v Speaker 13>you know, we started the year on the programming front

0:40:27.880 --> 0:40:30.600
<v Speaker 13>with a little movie called Saltburn anyway, and that just

0:40:30.680 --> 0:40:32.520
<v Speaker 13>kind of blew up the Internet and became a big

0:40:32.600 --> 0:40:35.080
<v Speaker 13>hit force in January, wits we do that?

0:40:35.360 --> 0:40:36.200
<v Speaker 6>Yeah, it was big.

0:40:36.960 --> 0:40:38.680
<v Speaker 13>But then right after that we had a couple of

0:40:38.800 --> 0:40:42.120
<v Speaker 13>additional movies at launch at Roadhouse was a big hit

0:40:42.200 --> 0:40:44.120
<v Speaker 13>for us at the beginning of the year, and same

0:40:44.200 --> 0:40:47.480
<v Speaker 13>with Idea of You, and then we had Fallout became

0:40:47.520 --> 0:40:49.279
<v Speaker 13>a big global franchise for US.

0:40:49.640 --> 0:40:49.960
<v Speaker 5>Boys.

0:40:49.960 --> 0:40:53.480
<v Speaker 13>Season four was was amazing, And obviously we just had

0:40:53.520 --> 0:40:56.080
<v Speaker 13>Lord of the Rings, Rings of Power finale last week.

0:40:56.120 --> 0:40:58.400
<v Speaker 12>So it's been watching all of this yourself, oh.

0:40:59.000 --> 0:41:02.359
<v Speaker 13>Every minute times. But so on the programming front, Jen

0:41:02.440 --> 0:41:05.080
<v Speaker 13>Salki and her team have really started to hit a

0:41:05.120 --> 0:41:08.279
<v Speaker 13>cadence of hits that we're really proud of and excited about.

0:41:08.320 --> 0:41:10.840
<v Speaker 13>And what's coming in the future. I'm even more excited about.

0:41:11.000 --> 0:41:14.200
<v Speaker 11>Let's dig in a little bit on the advertising side

0:41:14.200 --> 0:41:18.400
<v Speaker 11>of things, and indeed sort of obviously people are coming

0:41:18.400 --> 0:41:20.360
<v Speaker 11>to you for the content.

0:41:20.960 --> 0:41:21.920
<v Speaker 12>What have you learned in.

0:41:21.880 --> 0:41:24.160
<v Speaker 11>Those nine months it's January the twenty ninth when you

0:41:24.200 --> 0:41:26.640
<v Speaker 11>first turned it on. How many of us are paying

0:41:26.680 --> 0:41:27.520
<v Speaker 11>to not get at.

0:41:27.400 --> 0:41:31.640
<v Speaker 13>Yeah, well we all disclose those numbers publicly. But mostly

0:41:31.680 --> 0:41:34.239
<v Speaker 13>not as many as you would think. The advertising load

0:41:34.280 --> 0:41:36.200
<v Speaker 13>is very light because of the way we offer this

0:41:36.400 --> 0:41:39.759
<v Speaker 13>offered advertising on Prime, and so far it's been We've

0:41:39.760 --> 0:41:41.799
<v Speaker 13>been happy both on the customer side because we've not

0:41:42.000 --> 0:41:44.960
<v Speaker 13>seen the levels of churn or cancelations that some might

0:41:45.000 --> 0:41:47.879
<v Speaker 13>have thought. On the advertiser side. You know, it's been

0:41:48.160 --> 0:41:51.279
<v Speaker 13>really exciting to see the response from advertisers. We just

0:41:51.320 --> 0:41:54.319
<v Speaker 13>finished our first upfront a couple months ago and we

0:41:54.400 --> 0:41:57.399
<v Speaker 13>exceeded our expectations there and we're just excited to see

0:41:57.400 --> 0:41:58.440
<v Speaker 13>what happens in the future here.

0:41:58.480 --> 0:42:00.480
<v Speaker 12>Can you increase prices the ads?

0:42:00.920 --> 0:42:03.239
<v Speaker 13>Well, we like the CPMs we got. I think we

0:42:03.280 --> 0:42:05.400
<v Speaker 13>held price pretty well. I think when you put this

0:42:05.480 --> 0:42:08.520
<v Speaker 13>amount of inventory into the ad market, it's going to

0:42:08.520 --> 0:42:11.880
<v Speaker 13>put it. It's going to put some pressure on pricing.

0:42:11.960 --> 0:42:14.040
<v Speaker 13>But we're happy with where we ended up.

0:42:14.400 --> 0:42:14.800
<v Speaker 12>Okay.

0:42:15.080 --> 0:42:17.600
<v Speaker 11>And what therefore about third party platforms as well.

0:42:17.680 --> 0:42:18.719
<v Speaker 12>I mean we're starting to see that.

0:42:18.719 --> 0:42:21.400
<v Speaker 11>When Netflix offering it to Google some of the inventory,

0:42:21.400 --> 0:42:22.160
<v Speaker 11>would you go there?

0:42:22.560 --> 0:42:26.160
<v Speaker 13>Well, we have our own DSP, the Amazon DSP, and

0:42:26.680 --> 0:42:29.200
<v Speaker 13>our ads team is building that network out pretty aggressively.

0:42:29.280 --> 0:42:32.680
<v Speaker 13>Right now, we have third party supply that Paulkotis, who

0:42:32.719 --> 0:42:36.840
<v Speaker 13>runs ad sales for US. He's got obviously our stores

0:42:36.920 --> 0:42:40.080
<v Speaker 13>inventory as we call it on Amazon dot Com, and

0:42:40.760 --> 0:42:43.319
<v Speaker 13>a variety of media and entertainment properties as well.

0:42:43.719 --> 0:42:46.319
<v Speaker 11>I know you don't disclose numbers, but Bluebug Intelligence, just

0:42:46.360 --> 0:42:49.120
<v Speaker 11>to give them a little nod, they thought that two

0:42:49.160 --> 0:42:51.120
<v Speaker 11>billion dollars could be your run rate for ads to

0:42:51.160 --> 0:42:53.680
<v Speaker 11>twenty twenty four, could run up to five billion for

0:42:53.719 --> 0:42:54.480
<v Speaker 11>twenty twenty five.

0:42:54.480 --> 0:42:55.760
<v Speaker 9>Are they sort of ballpop?

0:42:55.880 --> 0:43:00.600
<v Speaker 11>We'll see, Okay, okay, But then let's talk a little

0:43:00.600 --> 0:43:03.959
<v Speaker 11>bit about what you offer, because I'm trying to get

0:43:04.080 --> 0:43:06.719
<v Speaker 11>our head round. You offer advertising because the content is

0:43:06.719 --> 0:43:09.120
<v Speaker 11>so great. But the content isn't just your own originals.

0:43:09.360 --> 0:43:11.920
<v Speaker 11>It's not just movies that we've talked about, but it's

0:43:11.960 --> 0:43:17.360
<v Speaker 11>also well the sports will dig into and partnerships partner channels. Yeah,

0:43:17.840 --> 0:43:20.439
<v Speaker 11>why bring in other partner channels? What's in it for them?

0:43:20.719 --> 0:43:21.000
<v Speaker 5>Yeah?

0:43:21.040 --> 0:43:23.200
<v Speaker 13>Well, So what we've tried to become over the last

0:43:23.239 --> 0:43:25.320
<v Speaker 13>four or five years is, you know, a first stop

0:43:25.440 --> 0:43:28.400
<v Speaker 13>entertainment hub for consumers around the world. What I mean

0:43:28.440 --> 0:43:30.640
<v Speaker 13>by that is, not only do we have the prime

0:43:30.840 --> 0:43:33.800
<v Speaker 13>content that we talked about at the top, including Thursday

0:43:33.880 --> 0:43:37.280
<v Speaker 13>night football, the NBA coming next year, NASCAR, but around

0:43:37.280 --> 0:43:40.080
<v Speaker 13>the world we also have Champions League throughout Europe and

0:43:40.360 --> 0:43:43.000
<v Speaker 13>a variety of sports as well. So we've got our

0:43:43.040 --> 0:43:46.960
<v Speaker 13>prime programming, but we also offer the world's largest t

0:43:47.120 --> 0:43:50.240
<v Speaker 13>vod store written by movies and TV shows in the world.

0:43:50.840 --> 0:43:52.480
<v Speaker 13>And then on top of that, we have over one

0:43:52.520 --> 0:43:55.719
<v Speaker 13>hundred partner streaming services that you can subscribe to right

0:43:55.760 --> 0:43:59.040
<v Speaker 13>inside of our application. And what we found is consumers.

0:43:59.440 --> 0:44:01.040
<v Speaker 13>You know, if you think about the number of apps

0:44:01.040 --> 0:44:03.239
<v Speaker 13>and subscriptions you have, it's kind of hard to keep

0:44:03.239 --> 0:44:05.160
<v Speaker 13>track of it all. You're not sure exactly where that

0:44:05.320 --> 0:44:07.799
<v Speaker 13>show or a movie might be. And so what we've

0:44:07.800 --> 0:44:10.640
<v Speaker 13>noticed is people realize they can subscribe to Max or

0:44:10.640 --> 0:44:15.440
<v Speaker 13>Paramount Plus or Lead Pass or Crunchy Role, et cetera

0:44:15.600 --> 0:44:18.680
<v Speaker 13>inside of Prime Video. We see a lot more engagement.

0:44:18.719 --> 0:44:22.200
<v Speaker 13>We are able to get subscribers for those those businesses

0:44:22.280 --> 0:44:25.439
<v Speaker 13>at a real attractive rate, and it's an exciting part

0:44:25.440 --> 0:44:28.160
<v Speaker 13>of our business. In fact, we were we're gonn announce

0:44:28.160 --> 0:44:30.439
<v Speaker 13>that we are adding Apple TV Plus to our Prime

0:44:30.520 --> 0:44:34.240
<v Speaker 13>video channels propositions and then make sure.

0:44:34.080 --> 0:44:37.200
<v Speaker 12>And why why Apple TV Plus?

0:44:37.239 --> 0:44:39.600
<v Speaker 13>Well, they have great programming and you know we've had

0:44:39.640 --> 0:44:41.760
<v Speaker 13>a good partnership with Apple on a number of fronts,

0:44:41.800 --> 0:44:43.960
<v Speaker 13>but you know, our companies do a lot of business together.

0:44:44.040 --> 0:44:46.040
<v Speaker 13>And I want to thank Adiq, who I know isn't

0:44:46.040 --> 0:44:47.600
<v Speaker 13>here tonight, but he and his team have done a

0:44:47.600 --> 0:44:49.799
<v Speaker 13>great job with this deal and we're excited to get

0:44:49.800 --> 0:44:50.040
<v Speaker 13>it going.

0:44:50.239 --> 0:44:51.040
<v Speaker 12>What'sn't it for Apple?

0:44:51.160 --> 0:44:53.920
<v Speaker 13>What we offer channel partners is hundreds of millions of

0:44:53.960 --> 0:44:56.399
<v Speaker 13>subscribers around the world that have access to their.

0:44:56.560 --> 0:44:58.200
<v Speaker 12>Hundreds of millions, two hundred million.

0:44:58.600 --> 0:45:00.640
<v Speaker 13>Well there's another number we don't talk a lot about.

0:45:00.640 --> 0:45:03.480
<v Speaker 13>But if I easily find information about me than our

0:45:03.520 --> 0:45:03.799
<v Speaker 13>number of.

0:45:03.760 --> 0:45:05.919
<v Speaker 5>Subscribers on you want enough.

0:45:06.640 --> 0:45:10.000
<v Speaker 13>Having this engagement around the world with Prime members accessing

0:45:10.000 --> 0:45:13.240
<v Speaker 13>Prime Video is a real great platform for other partners

0:45:13.239 --> 0:45:16.279
<v Speaker 13>to be able to reach them. Easy access to the

0:45:16.360 --> 0:45:20.920
<v Speaker 13>subscriber base, one stop shop, easy navigation, one click subscription

0:45:21.000 --> 0:45:22.839
<v Speaker 13>right in one app. And I think that's what that's

0:45:22.880 --> 0:45:24.080
<v Speaker 13>what's attracting partners.

0:45:25.160 --> 0:45:28.640
<v Speaker 12>How does that negotiation start? Who picked up the phone

0:45:28.680 --> 0:45:29.800
<v Speaker 12>to who first?

0:45:30.200 --> 0:45:33.200
<v Speaker 13>Oh gosh, we've been talking for a while. It took

0:45:33.239 --> 0:45:34.839
<v Speaker 13>a while, but we're happy we're here.

0:45:34.840 --> 0:45:36.760
<v Speaker 12>We wooed them? Were they easy to coax?

0:45:36.920 --> 0:45:39.000
<v Speaker 13>Well? What We've really spent a lot of time doing

0:45:39.640 --> 0:45:41.799
<v Speaker 13>is figuring out how do we make it easy to

0:45:41.840 --> 0:45:44.760
<v Speaker 13>be a partner. You know, we we we have leadership

0:45:44.760 --> 0:45:46.840
<v Speaker 13>principles at Amazon. One of them is customer obsessed.

0:45:46.840 --> 0:45:48.360
<v Speaker 12>How many of them are now, Oh there's.

0:45:48.200 --> 0:45:52.040
<v Speaker 13>Slob or fourteen? Yeah, and so as we look at

0:45:52.040 --> 0:45:54.200
<v Speaker 13>our partners as customers, so what we're spending a lot

0:45:54.239 --> 0:45:55.800
<v Speaker 13>of time on is how do we make it easy

0:45:56.120 --> 0:45:58.080
<v Speaker 13>for them to onboard? How do we make it easy

0:45:58.080 --> 0:46:00.319
<v Speaker 13>for them to look at our service just as it

0:46:00.360 --> 0:46:03.520
<v Speaker 13>were a device? Yeah, and so we want to give

0:46:03.560 --> 0:46:05.719
<v Speaker 13>them the same benefits as you would get if you

0:46:05.719 --> 0:46:08.400
<v Speaker 13>were on Apple TV or a fire TV or Roku

0:46:08.560 --> 0:46:10.919
<v Speaker 13>being part of our ecosystem. And I think that it's

0:46:10.920 --> 0:46:11.799
<v Speaker 13>worked out pretty well.

0:46:11.920 --> 0:46:13.440
<v Speaker 12>Does that help from your own background?

0:46:13.480 --> 0:46:17.359
<v Speaker 11>You're someone who's done all parts of media, like old

0:46:17.440 --> 0:46:21.120
<v Speaker 11>school TV. I'm still fighting the good fight, but they

0:46:21.320 --> 0:46:24.480
<v Speaker 11>then go into movies and content. You've been a customer

0:46:24.480 --> 0:46:26.480
<v Speaker 11>of Amazon before you've come to lead it.

0:46:26.680 --> 0:46:28.120
<v Speaker 12>Does that help from your perspective?

0:46:28.239 --> 0:46:28.479
<v Speaker 6>Yeah?

0:46:28.600 --> 0:46:30.800
<v Speaker 13>You know, I've in my career, I've been able to

0:46:30.840 --> 0:46:35.640
<v Speaker 13>be a customer, a competitor, a supplier. It's sony and

0:46:35.719 --> 0:46:38.000
<v Speaker 13>so I think you know, I've gotten another company pretty

0:46:38.000 --> 0:46:39.720
<v Speaker 13>well all those crossing of paths.

0:46:40.160 --> 0:46:42.640
<v Speaker 11>So let's talk a little bit more about the content

0:46:42.680 --> 0:46:45.080
<v Speaker 11>you're offering and sports. I want to dwell in there

0:46:45.120 --> 0:46:45.560
<v Speaker 11>a little bit.

0:46:45.600 --> 0:46:46.320
<v Speaker 12>You were at Fox.

0:46:46.520 --> 0:46:50.960
<v Speaker 11>You know what it takes to build must watch sports channels.

0:46:51.360 --> 0:46:53.880
<v Speaker 11>So how do you feel about the price point for

0:46:53.920 --> 0:46:55.960
<v Speaker 11>example like NBA WNBA.

0:46:56.200 --> 0:46:58.279
<v Speaker 13>Yeah, well, I mean we're happy with the deal we got.

0:46:58.360 --> 0:47:02.359
<v Speaker 13>We you know, we obviously have analytics that there tell

0:47:02.400 --> 0:47:04.359
<v Speaker 13>us is going to be a creative and very good

0:47:04.360 --> 0:47:07.280
<v Speaker 13>for our customers. But what we really like about sports

0:47:07.480 --> 0:47:11.239
<v Speaker 13>is that, you know, this television viewership is migrating from

0:47:11.400 --> 0:47:15.120
<v Speaker 13>you know, linear television via cable, satellite, et cetera, into

0:47:15.160 --> 0:47:19.160
<v Speaker 13>a streaming environment. People's tastes didn't change. They still want

0:47:19.200 --> 0:47:21.799
<v Speaker 13>to watch football games and basketball games, and they want

0:47:21.800 --> 0:47:24.040
<v Speaker 13>to watch movies and TV shows, and so what we're

0:47:24.040 --> 0:47:25.959
<v Speaker 13>trying to build is, you know, sort of the next

0:47:26.000 --> 0:47:29.880
<v Speaker 13>generation of an entertainment service and not just be solely

0:47:29.920 --> 0:47:33.840
<v Speaker 13>focused on movies, television, VOD and so in addition to

0:47:33.880 --> 0:47:37.040
<v Speaker 13>live sports we've got we were talking backstage about fast

0:47:37.120 --> 0:47:39.439
<v Speaker 13>channels have become a big part of our service as well.

0:47:39.920 --> 0:47:43.040
<v Speaker 13>We have Bloomberg on there as well. I've been watching

0:47:43.040 --> 0:47:45.600
<v Speaker 13>it this week, and so you know, we're trying to

0:47:45.600 --> 0:47:48.920
<v Speaker 13>be a hub of all things content for customers in

0:47:48.960 --> 0:47:49.399
<v Speaker 13>one app.

0:47:49.600 --> 0:47:54.840
<v Speaker 11>What about talent for things like NBA You're going to get.

0:47:54.080 --> 0:47:56.759
<v Speaker 13>But we have a little time. You know, I want

0:47:56.760 --> 0:48:00.640
<v Speaker 13>to be Shack's great. I love Shack. I'm a longtime

0:48:00.719 --> 0:48:01.200
<v Speaker 13>Laker fan.

0:48:02.719 --> 0:48:07.520
<v Speaker 11>But well, you're also not just perhaps a ball guy

0:48:07.560 --> 0:48:08.319
<v Speaker 11>when it comes to NBA.

0:48:08.440 --> 0:48:09.960
<v Speaker 12>I know you like MLB as well.

0:48:09.960 --> 0:48:12.160
<v Speaker 11>I think you actually wanted to be a baseball.

0:48:12.400 --> 0:48:15.680
<v Speaker 13>Oh yeah, a long long time ago. Sure, who didn't.

0:48:15.840 --> 0:48:17.520
<v Speaker 12>Well, let's talk a little bit about that.

0:48:17.640 --> 0:48:20.480
<v Speaker 11>For local sports, is that something that you and I

0:48:20.719 --> 0:48:22.320
<v Speaker 11>wanting to be getting more into.

0:48:22.520 --> 0:48:24.960
<v Speaker 13>We've looked at local sports. You know, we have an

0:48:25.040 --> 0:48:27.400
<v Speaker 13>equity position in the S network in New York. We

0:48:27.440 --> 0:48:31.240
<v Speaker 13>actually offer twenty Yankees games a season on prime video

0:48:31.280 --> 0:48:34.319
<v Speaker 13>to prime customers. And what's been interesting that's basically the

0:48:34.320 --> 0:48:37.440
<v Speaker 13>old broadcast package that used to exist in market. What

0:48:37.520 --> 0:48:41.040
<v Speaker 13>we've seen every single year ratings and viewership of our

0:48:41.120 --> 0:48:44.439
<v Speaker 13>Yankee games is up fifteen or twenty percent every single year.

0:48:44.880 --> 0:48:47.600
<v Speaker 13>And so I think what's happening is people's muscle memory

0:48:47.640 --> 0:48:50.400
<v Speaker 13>is changing. The awareness that there is life sport on

0:48:50.480 --> 0:48:53.719
<v Speaker 13>streaming is changing over time and people are finding it.

0:48:53.719 --> 0:48:56.280
<v Speaker 13>Thursday Night Football, for example, was up twenty five percent

0:48:56.360 --> 0:48:59.640
<v Speaker 13>in its second season through three games. It's up twenty

0:48:59.640 --> 0:49:01.719
<v Speaker 13>percent this season, and I think that's just going to

0:49:01.760 --> 0:49:05.080
<v Speaker 13>continue and when and over time, I think live sport

0:49:05.200 --> 0:49:06.920
<v Speaker 13>is going to be viewed just as often and as

0:49:07.000 --> 0:49:09.359
<v Speaker 13>frequently on streaming as it is on linear TV.

0:49:09.560 --> 0:49:13.799
<v Speaker 11>Looking of football NFL, will they exercise and ani opt out?

0:49:13.840 --> 0:49:16.400
<v Speaker 12>Do you think how expensive is that kind of get early?

0:49:16.440 --> 0:49:18.560
<v Speaker 13>Oh? In terms of the deals, we'll see, you know,

0:49:18.680 --> 0:49:20.720
<v Speaker 13>we still have a few years to see what happens.

0:49:20.760 --> 0:49:24.000
<v Speaker 13>I think the marketplace, the media and landscape is changing

0:49:24.040 --> 0:49:26.759
<v Speaker 13>so dramatically. It's a lot's going to happen between now.

0:49:26.760 --> 0:49:28.239
<v Speaker 12>And how is it changing dramatically?

0:49:28.520 --> 0:49:30.320
<v Speaker 13>Well, I think, you know, I've seen a lot of

0:49:30.320 --> 0:49:32.040
<v Speaker 13>people in the room. I've written a lot about this.

0:49:32.239 --> 0:49:37.399
<v Speaker 13>But obviously, the cable and satellite industry has a cable

0:49:37.480 --> 0:49:40.759
<v Speaker 13>channel business has eroded over the last actually almost since

0:49:40.840 --> 0:49:43.600
<v Speaker 13>the second I left. I had great timing to leave

0:49:43.920 --> 0:49:46.239
<v Speaker 13>that part of the business. But what you've seen is

0:49:46.280 --> 0:49:49.839
<v Speaker 13>this multi channel big bundle, you know, decline every year

0:49:49.840 --> 0:49:51.480
<v Speaker 13>for the last decade or so, and I think that's

0:49:51.480 --> 0:49:53.920
<v Speaker 13>put a lot of pressure on the on the legacy

0:49:53.960 --> 0:49:57.680
<v Speaker 13>media companies, and so that's the catalyst. I think of

0:49:57.719 --> 0:49:59.920
<v Speaker 13>all of this change that we're seeing as.

0:49:59.840 --> 0:50:04.960
<v Speaker 12>You there's Disney, there's Netflix. What happens to the rest?

0:50:05.160 --> 0:50:07.719
<v Speaker 11>Do they all end up partner channels on you?

0:50:08.120 --> 0:50:10.640
<v Speaker 13>I think everyone's got different strategies there. I mean, they're

0:50:10.680 --> 0:50:13.480
<v Speaker 13>you know, most of the companies have incredible IP. You know,

0:50:13.520 --> 0:50:17.359
<v Speaker 13>you look around the media landscape and there's tremendous IP.

0:50:17.520 --> 0:50:20.719
<v Speaker 13>Everyone's got movie studios and television studios. I think folks

0:50:20.719 --> 0:50:22.560
<v Speaker 13>who are just gonna have to pick their strategy and

0:50:22.840 --> 0:50:27.520
<v Speaker 13>go aggressively after it understanding that the legacy cable business

0:50:27.600 --> 0:50:30.319
<v Speaker 13>is on a decline and it's probably not going back

0:50:30.320 --> 0:50:32.160
<v Speaker 13>the other way. So how do you deal with that?

0:50:32.280 --> 0:50:34.120
<v Speaker 13>I think is a question for each of those companies.

0:50:34.200 --> 0:50:37.120
<v Speaker 2>That was Mike Hopkins, head of Amazon Prime Video and

0:50:37.320 --> 0:50:41.680
<v Speaker 2>Amazon MGM Studios. When it comes to Amazon, stock shares

0:50:41.719 --> 0:50:44.480
<v Speaker 2>have seen solid gains, with a year to date increase

0:50:44.480 --> 0:50:48.239
<v Speaker 2>of roughly twenty three percent, slightly outpacing the twenty one

0:50:48.280 --> 0:50:50.839
<v Speaker 2>percent gain for the S and P five hundred Coming

0:50:50.880 --> 0:50:52.839
<v Speaker 2>up Next, we hear about what it takes to make

0:50:52.920 --> 0:50:55.920
<v Speaker 2>it in today's music industry from the man with ties

0:50:55.960 --> 0:50:59.640
<v Speaker 2>to the success of Taylor Swift and Justin Bieber. That's

0:50:59.600 --> 0:51:01.840
<v Speaker 2>straight out I had on this special weekend edition of

0:51:01.840 --> 0:51:05.160
<v Speaker 2>Bloomberg Business Week, bringing you some of the best conversations

0:51:05.160 --> 0:51:08.120
<v Speaker 2>from this week's screen Time event in Los Angeles. I'm

0:51:08.160 --> 0:51:11.640
<v Speaker 2>Matt Miller filling in for Carolyn Tim and this is Bloomberg.

0:51:21.320 --> 0:51:25.239
<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Tim

0:51:25.239 --> 0:51:27.560
<v Speaker 1>Stenebeck on Bloomberg Radio.

0:51:29.239 --> 0:51:32.360
<v Speaker 2>You're listening to the weekend edition of Bloomberg Business Week.

0:51:32.600 --> 0:51:34.839
<v Speaker 2>I'm Matt Miller, filling in for Carol and Tim, who

0:51:34.840 --> 0:51:38.480
<v Speaker 2>spent the week in Los Angeles at Bloomberg screen Time.

0:51:38.920 --> 0:51:41.560
<v Speaker 2>The event focused on the future of entertainment and the

0:51:41.600 --> 0:51:45.560
<v Speaker 2>impact of AI on creative industries, and today we're bringing

0:51:45.560 --> 0:51:48.520
<v Speaker 2>you some of our conversations from the gathering up. Next,

0:51:48.560 --> 0:51:51.040
<v Speaker 2>we hear about the future of the music industry from

0:51:51.040 --> 0:51:54.760
<v Speaker 2>a person with close ties to Taylor Swift and Justin Bieber.

0:51:55.040 --> 0:51:58.600
<v Speaker 2>Scooter Braun is known for managing high profile artists and

0:51:58.680 --> 0:52:02.359
<v Speaker 2>launching successful music. Now he's thinking about the next wave

0:52:02.400 --> 0:52:05.440
<v Speaker 2>of music in his role as CEO of the American

0:52:05.480 --> 0:52:09.440
<v Speaker 2>division of Hibe Corporation. Scooter Braun sat down with Lucas

0:52:09.480 --> 0:52:12.279
<v Speaker 2>Shaw this week at Bloomberg screen Time in La. Let's

0:52:12.280 --> 0:52:13.560
<v Speaker 2>hear some of that conversation.

0:52:13.719 --> 0:52:15.799
<v Speaker 3>Now, A lot have happened with you in the last

0:52:15.800 --> 0:52:17.080
<v Speaker 3>couple of years, and that's sort of where I want

0:52:17.080 --> 0:52:17.359
<v Speaker 3>to start.

0:52:17.400 --> 0:52:18.920
<v Speaker 6>Really, Yeah, just a little bit.

0:52:20.400 --> 0:52:23.279
<v Speaker 3>Because there's been a lot of coverage of Okay, all

0:52:23.320 --> 0:52:26.719
<v Speaker 3>your clients are firing you. Yeah, we won't touch your

0:52:26.719 --> 0:52:28.560
<v Speaker 3>personal life, but I know a bunch just happened there.

0:52:28.719 --> 0:52:32.439
<v Speaker 3>You sold your company. Yeah, you haven't said a ton

0:52:32.560 --> 0:52:36.279
<v Speaker 3>about it, and I'm curious, what is your take? Did

0:52:36.360 --> 0:52:38.759
<v Speaker 3>a bunch of your clients fire you in the span

0:52:38.800 --> 0:52:40.279
<v Speaker 3>of a couple of months, or what happened with.

0:52:40.400 --> 0:52:43.319
<v Speaker 10>Mariorty three fired me in the exact same day? Yeah?

0:52:43.400 --> 0:52:47.560
<v Speaker 14>No, what happened with Arianna with Justin with Listen? I

0:52:47.920 --> 0:52:52.720
<v Speaker 14>actually a year after it happened. I for contractual reasons,

0:52:52.719 --> 0:52:56.359
<v Speaker 14>I wasn't allowed to say certain things, but I wrote

0:52:56.400 --> 0:52:58.840
<v Speaker 14>something called twenty three Years I posted on social media.

0:52:58.960 --> 0:53:01.799
<v Speaker 14>It was my own words, and I kind of explained

0:53:02.320 --> 0:53:04.960
<v Speaker 14>why I made a decision to not manage musicians after

0:53:05.000 --> 0:53:09.480
<v Speaker 14>twenty three years, and that had actually happened about.

0:53:09.200 --> 0:53:10.000
<v Speaker 10>A year earlier.

0:53:10.760 --> 0:53:13.000
<v Speaker 14>But you know, we're running a big company and there's

0:53:13.040 --> 0:53:15.439
<v Speaker 14>things that we needed to handle, so I didn't feel

0:53:15.480 --> 0:53:16.400
<v Speaker 14>like it was the right time.

0:53:17.960 --> 0:53:19.400
<v Speaker 6>And simply.

0:53:21.160 --> 0:53:23.279
<v Speaker 14>Twenty three years of my life, from nineteen years old

0:53:23.719 --> 0:53:26.480
<v Speaker 14>to into my forties, I only knew being a music manager.

0:53:26.920 --> 0:53:29.840
<v Speaker 14>Twenty four to seven, seven days a week, every vacation,

0:53:30.520 --> 0:53:32.560
<v Speaker 14>every holiday, I was on call, and I wasn't on

0:53:32.640 --> 0:53:35.160
<v Speaker 14>call to one big artist. I was on call to

0:53:35.200 --> 0:53:38.040
<v Speaker 14>a lot of big artists. And for a large part

0:53:38.040 --> 0:53:41.200
<v Speaker 14>of my life, I really loved it. But then I

0:53:41.239 --> 0:53:45.719
<v Speaker 14>had three kids and I went through a divorce, and

0:53:45.760 --> 0:53:48.600
<v Speaker 14>anyone who's been through a divorce with children knows.

0:53:48.400 --> 0:53:49.880
<v Speaker 10>That is not an easy situation.

0:53:51.400 --> 0:53:54.640
<v Speaker 14>And I really looked back at my life and realized that,

0:53:55.480 --> 0:53:57.440
<v Speaker 14>you know, you can point fingers in a divorce and say, oh,

0:53:57.480 --> 0:53:59.560
<v Speaker 14>this happened, this happened, but you play a role in it.

0:54:00.000 --> 0:54:02.120
<v Speaker 14>That's why me and my ex wife are partners with

0:54:02.160 --> 0:54:04.440
<v Speaker 14>these three children, and we put them first. And my

0:54:04.600 --> 0:54:07.400
<v Speaker 14>role was I wasn't present. I was a manager twenty

0:54:07.440 --> 0:54:09.480
<v Speaker 14>four to seven, and even though I was home, I

0:54:09.640 --> 0:54:11.879
<v Speaker 14>wasn't being there The way I should, and it led

0:54:11.880 --> 0:54:13.480
<v Speaker 14>to a divorce, and I realized I might have lost

0:54:13.520 --> 0:54:15.799
<v Speaker 14>the marriage. I wasn't going to lose my kids, and

0:54:15.840 --> 0:54:17.960
<v Speaker 14>I decided that I wanted to step away from it

0:54:18.000 --> 0:54:21.879
<v Speaker 14>and focus on other things. And now I have three

0:54:21.920 --> 0:54:24.080
<v Speaker 14>of the best clients in the world and that's my focus.

0:54:26.360 --> 0:54:28.239
<v Speaker 14>But then, yeah, there was a lot of noise because

0:54:28.280 --> 0:54:31.320
<v Speaker 14>no one actually thought you would want to step away

0:54:31.320 --> 0:54:31.640
<v Speaker 14>from that.

0:54:31.920 --> 0:54:35.680
<v Speaker 3>But how did you communicate that to the clients that

0:54:35.680 --> 0:54:36.480
<v Speaker 3>you were working with.

0:54:36.840 --> 0:54:38.279
<v Speaker 10>Well, one of them I wrote about this.

0:54:38.320 --> 0:54:40.279
<v Speaker 14>One of them approached me and said, hey, I think

0:54:40.280 --> 0:54:41.759
<v Speaker 14>I want to try something new, And at first I

0:54:41.840 --> 0:54:44.080
<v Speaker 14>was kind of hurt because we've been through so much together.

0:54:44.400 --> 0:54:46.880
<v Speaker 14>But then I realized I was already heading in this

0:54:46.960 --> 0:54:49.640
<v Speaker 14>direction for the last couple of years anyway, and I

0:54:49.680 --> 0:54:52.080
<v Speaker 14>think you make plans and then the universe kind of

0:54:52.120 --> 0:54:55.840
<v Speaker 14>shows you what you need. And I realized it was

0:54:55.880 --> 0:54:58.360
<v Speaker 14>actually a gift and it wasn't about one client, it

0:54:58.360 --> 0:55:00.520
<v Speaker 14>was about all. So I started picking of the phone

0:55:00.520 --> 0:55:03.399
<v Speaker 14>and having the conversations and some went well, some took

0:55:03.560 --> 0:55:07.800
<v Speaker 14>a couple more conversations. But I'm grateful for all those years.

0:55:08.480 --> 0:55:11.200
<v Speaker 14>I lived a very unique life doing that. I was

0:55:11.239 --> 0:55:13.759
<v Speaker 14>a part of the journeys of the most successful and

0:55:13.800 --> 0:55:16.399
<v Speaker 14>incredibly talented people in the world, and now I get

0:55:16.400 --> 0:55:17.960
<v Speaker 14>to root from them in a different capacity.

0:55:18.200 --> 0:55:21.080
<v Speaker 3>How does how does the relationship like, take someone like Beeber,

0:55:21.160 --> 0:55:23.400
<v Speaker 3>you take him from nothing.

0:55:23.480 --> 0:55:25.680
<v Speaker 6>You guys are do the whole ride up together? Like,

0:55:25.719 --> 0:55:27.000
<v Speaker 6>how does that relationship work?

0:55:27.040 --> 0:55:28.279
<v Speaker 10>Now root for each other?

0:55:28.640 --> 0:55:30.120
<v Speaker 14>I mean it's you get to a point where you

0:55:30.160 --> 0:55:34.799
<v Speaker 14>just say, we built this legacy alongside each other. And

0:55:34.840 --> 0:55:37.320
<v Speaker 14>now he's a father, he has an opportunity to continue

0:55:37.360 --> 0:55:39.520
<v Speaker 14>doing you know, the things he loves to do, and

0:55:39.520 --> 0:55:40.759
<v Speaker 14>I'm going to be rooting for him for the rest

0:55:40.800 --> 0:55:41.280
<v Speaker 14>of his career.

0:55:43.440 --> 0:55:46.200
<v Speaker 6>So, Hi bought your company about three years ago.

0:55:46.280 --> 0:55:48.680
<v Speaker 3>We had the we we had Bang here last year.

0:55:49.120 --> 0:55:50.279
<v Speaker 3>A lot of people, I think thought you.

0:55:50.239 --> 0:55:53.200
<v Speaker 6>Would have left by now, So did our chairman?

0:55:55.239 --> 0:55:57.120
<v Speaker 3>Why have you stuck around? And I guess what are

0:55:57.160 --> 0:56:00.400
<v Speaker 3>you doing now if you are not managing artists?

0:56:01.920 --> 0:56:02.680
<v Speaker 10>Well, a couple of things.

0:56:02.920 --> 0:56:06.880
<v Speaker 14>One when chairman Bang and I met, he's the chairman

0:56:06.920 --> 0:56:09.799
<v Speaker 14>of Hive and he's a very unique individual. This is

0:56:09.840 --> 0:56:12.960
<v Speaker 14>someone who was one of the biggest music producers in

0:56:13.000 --> 0:56:15.239
<v Speaker 14>all of Asia and at the height of his career

0:56:15.239 --> 0:56:17.120
<v Speaker 14>in Asia. He came to the United States to have

0:56:17.239 --> 0:56:19.840
<v Speaker 14>meetings with A and RS and presidents of labels here

0:56:20.160 --> 0:56:23.440
<v Speaker 14>to discuss his ideas, and one of these meetings they

0:56:23.480 --> 0:56:25.600
<v Speaker 14>had him wait in the lobby for three hours and

0:56:25.640 --> 0:56:27.680
<v Speaker 14>then told him, I'm sorry, we have another meeting and

0:56:27.719 --> 0:56:30.600
<v Speaker 14>canceled on him. And instead of having an ego or

0:56:30.640 --> 0:56:32.160
<v Speaker 14>getting upset, he goes, you know what, I'm going to

0:56:32.200 --> 0:56:34.840
<v Speaker 14>go back home and I'm going to build this industry

0:56:35.360 --> 0:56:37.719
<v Speaker 14>myself so that when I come back here, I don't

0:56:37.760 --> 0:56:40.080
<v Speaker 14>need to ask for these meetings. And if you look

0:56:40.080 --> 0:56:42.440
<v Speaker 14>at the groups, including BTS that he was able to

0:56:42.600 --> 0:56:47.120
<v Speaker 14>create and produce and develop and continually do so, he's

0:56:47.160 --> 0:56:48.279
<v Speaker 14>actually brilliant.

0:56:48.520 --> 0:56:51.000
<v Speaker 10>And I had admired his work for some time.

0:56:51.520 --> 0:56:54.440
<v Speaker 14>He knew about the stuff I had done, and he

0:56:55.000 --> 0:56:57.040
<v Speaker 14>reached out to me and said, can we have conversations,

0:56:57.080 --> 0:57:00.440
<v Speaker 14>And the first four conversations that's when the last one

0:57:00.640 --> 0:57:03.880
<v Speaker 14>happened about the purchase. He said that in the East,

0:57:04.400 --> 0:57:07.359
<v Speaker 14>we have conversations about what we're going to do. He goes,

0:57:07.560 --> 0:57:09.120
<v Speaker 14>too many times when I talk to people in the West,

0:57:09.160 --> 0:57:11.440
<v Speaker 14>they talk about just the transaction, just the deal, not

0:57:11.520 --> 0:57:14.000
<v Speaker 14>what we're going to do. He goes, all four conversations

0:57:14.000 --> 0:57:16.360
<v Speaker 14>we've had. We've talked about culture, We've talked about philosophy,

0:57:16.400 --> 0:57:18.800
<v Speaker 14>we've talked about meditation, we've talked about music, we've talked

0:57:18.800 --> 0:57:22.000
<v Speaker 14>about family. He goes, I want to do this with you,

0:57:22.040 --> 0:57:24.000
<v Speaker 14>and no matter what we find, we'll go through it together.

0:57:25.200 --> 0:57:28.120
<v Speaker 14>We signed up and we did a five year deal.

0:57:28.880 --> 0:57:30.840
<v Speaker 14>And the reason I'm still here because you're right, and

0:57:30.920 --> 0:57:33.160
<v Speaker 14>those deals usually vest out at a certain point, and

0:57:33.480 --> 0:57:38.040
<v Speaker 14>my deal was pretty much upfront. I gave my word,

0:57:38.320 --> 0:57:40.880
<v Speaker 14>and I really enjoy him. I think he's a visionary

0:57:40.880 --> 0:57:42.640
<v Speaker 14>and I think your words should mean more than just

0:57:42.760 --> 0:57:44.800
<v Speaker 14>the deal that you do on paper. And I told

0:57:44.880 --> 0:57:46.400
<v Speaker 14>him I'd be there for five years. I'm going to

0:57:46.480 --> 0:57:49.320
<v Speaker 14>do that. And the exciting part is we've developed such

0:57:49.360 --> 0:57:52.040
<v Speaker 14>a relationship that now we're talking about extending that and

0:57:52.080 --> 0:57:53.520
<v Speaker 14>being there longer, and I'm looking.

0:57:53.280 --> 0:57:53.760
<v Speaker 10>Forward to it.

0:57:54.800 --> 0:57:56.480
<v Speaker 6>And is that being focused?

0:57:56.520 --> 0:57:59.320
<v Speaker 3>Like are you because you're the CEO of Hype America right,

0:57:59.320 --> 0:58:01.880
<v Speaker 3>how much of your time are you spending on taking

0:58:02.000 --> 0:58:04.800
<v Speaker 3>big Korean acts and bringing them here or bringing them

0:58:04.800 --> 0:58:06.200
<v Speaker 3>around the world, And how much of it are you

0:58:06.240 --> 0:58:08.840
<v Speaker 3>spending on developing acts here that have nothing to do

0:58:08.960 --> 0:58:10.920
<v Speaker 3>with Korea, it's.

0:58:10.760 --> 0:58:11.680
<v Speaker 10>About fifty to fifty.

0:58:11.760 --> 0:58:14.120
<v Speaker 14>And also, you know, if you look at our strategy,

0:58:14.840 --> 0:58:18.920
<v Speaker 14>we purchased QC, which is, you know, the biggest independent

0:58:18.960 --> 0:58:20.120
<v Speaker 14>hip hop label in the country.

0:58:20.480 --> 0:58:23.160
<v Speaker 10>We had big machine from Ithaca when we brought it over.

0:58:24.240 --> 0:58:25.760
<v Speaker 10>So we're gonna, you know.

0:58:25.680 --> 0:58:27.640
<v Speaker 14>Go out and find other companies that make sense for

0:58:27.720 --> 0:58:30.560
<v Speaker 14>us and other assets that make sense. We also launched

0:58:30.600 --> 0:58:32.640
<v Speaker 14>High two point zero, which allows us to create a

0:58:32.680 --> 0:58:36.800
<v Speaker 14>distribution system for independent labels because of our distribution deal

0:58:36.840 --> 0:58:39.240
<v Speaker 14>with Universal, a ten year deal that puts us a

0:58:39.360 --> 0:58:42.520
<v Speaker 14>unique position. And then you know, you look at Weavers,

0:58:42.560 --> 0:58:47.000
<v Speaker 14>which is our large platform for fan engagement for super fans,

0:58:47.080 --> 0:58:48.760
<v Speaker 14>which is the biggest in the world and the biggest

0:58:48.800 --> 0:58:50.800
<v Speaker 14>in Asia. A lot of people don't realize this, but

0:58:50.840 --> 0:58:53.360
<v Speaker 14>thirty percent of our revenue is actually from North America.

0:58:53.960 --> 0:58:57.160
<v Speaker 14>So you know, now we've introduced Ariana Grande to that platform.

0:58:57.200 --> 0:58:58.600
<v Speaker 10>We introduced kid Le Roy this week.

0:58:59.120 --> 0:59:01.360
<v Speaker 14>You know, you're starting to see a lot of you know,

0:59:01.480 --> 0:59:04.760
<v Speaker 14>acts from the West joining and it makes sense because

0:59:05.240 --> 0:59:07.480
<v Speaker 14>you see acts from the East coming here and they're

0:59:07.480 --> 0:59:10.600
<v Speaker 14>selling out arenas day one and if everyone's asking why,

0:59:10.600 --> 0:59:13.120
<v Speaker 14>and it's because of that opportunity to talk directly to

0:59:13.160 --> 0:59:14.880
<v Speaker 14>the fans on weavers, right.

0:59:15.000 --> 0:59:18.120
<v Speaker 3>If you were starting a new company today management whatever,

0:59:18.120 --> 0:59:21.120
<v Speaker 3>I know you don't want to manage anymore. Is there

0:59:21.200 --> 0:59:22.880
<v Speaker 3>who is an artist out there? Like if you could

0:59:22.920 --> 0:59:24.680
<v Speaker 3>just pick one and I'm going to build around you,

0:59:25.000 --> 0:59:25.800
<v Speaker 3>who would you pick?

0:59:27.920 --> 0:59:29.240
<v Speaker 5>Ah?

0:59:29.760 --> 0:59:31.080
<v Speaker 14>I don't know because I haven't really been in that

0:59:31.160 --> 0:59:34.960
<v Speaker 14>space of like, you know, finding the next one.

0:59:36.680 --> 0:59:38.080
<v Speaker 3>Well, it doesn't have to be the next one. It

0:59:39.120 --> 0:59:41.880
<v Speaker 3>can be a huge star now, Like who is someone now?

0:59:42.000 --> 0:59:43.520
<v Speaker 3>Or you look at them and they're already a star

0:59:43.920 --> 0:59:45.720
<v Speaker 3>and you feel like their earnings are over the next

0:59:45.760 --> 0:59:48.280
<v Speaker 3>twenty thirty years or their potential of where they could

0:59:48.280 --> 0:59:49.960
<v Speaker 3>go at their career is something that you want to

0:59:49.960 --> 0:59:50.600
<v Speaker 3>be involved with.

0:59:55.000 --> 0:59:56.640
<v Speaker 14>I'm gonna give you the sound by you're looking for

0:59:56.680 --> 0:59:58.000
<v Speaker 14>because I just can't help myself.

0:59:58.360 --> 0:59:59.800
<v Speaker 10>And the PR team is going to be like what

1:00:02.320 --> 1:00:02.680
<v Speaker 10>I think.

1:00:02.720 --> 1:00:05.440
<v Speaker 14>The artist that's you know, one that you should always

1:00:05.440 --> 1:00:09.040
<v Speaker 14>bet on and is already a huge star and you

1:00:09.080 --> 1:00:10.920
<v Speaker 14>can always bet on because they want it all the

1:00:10.960 --> 1:00:13.960
<v Speaker 14>time and they do what it takes to be you know,

1:00:14.160 --> 1:00:16.280
<v Speaker 14>present and relative all the time is Taylor Swift.

1:00:17.480 --> 1:00:19.600
<v Speaker 3>I was actually not thinking you were going to say that,

1:00:19.760 --> 1:00:21.880
<v Speaker 3>but it's it's an obvious answer.

1:00:23.920 --> 1:00:26.200
<v Speaker 14>But you know, I also love that what we're doing

1:00:26.200 --> 1:00:30.960
<v Speaker 14>with our group Cats Eye, I love Teddy Swims, I

1:00:31.000 --> 1:00:37.280
<v Speaker 14>love great voices like that. I love like Benson Moon.

1:00:37.320 --> 1:00:38.960
<v Speaker 14>I saw him perform the other day and that was

1:00:38.960 --> 1:00:43.040
<v Speaker 14>really impressive. Zach Brian is doing incredible stuff. So there's

1:00:43.240 --> 1:00:45.440
<v Speaker 14>you know, the fun part about it is everyone you know,

1:00:45.480 --> 1:00:47.919
<v Speaker 14>there's a huge opportunity coming with AI, and it's going

1:00:47.960 --> 1:00:50.280
<v Speaker 14>to change the music industry the same way pro tools.

1:00:50.320 --> 1:00:52.400
<v Speaker 10>Did you know pro tools came along, people said.

1:00:53.920 --> 1:00:56.360
<v Speaker 14>What is this, we need live instruments, and you realize

1:00:56.400 --> 1:00:58.080
<v Speaker 14>it's a tool to create more music.

1:00:58.560 --> 1:00:59.960
<v Speaker 10>And I think AI is going to do the same

1:01:00.000 --> 1:01:00.400
<v Speaker 10>same thing.

1:01:00.880 --> 1:01:02.160
<v Speaker 6>But there's always.

1:01:01.800 --> 1:01:05.720
<v Speaker 14>Going to be a need for both human emotion and

1:01:05.840 --> 1:01:08.320
<v Speaker 14>human error. You know, if we want to watch the

1:01:08.320 --> 1:01:10.840
<v Speaker 14>greatest chess you know players in the world. We'd watched

1:01:10.840 --> 1:01:13.280
<v Speaker 14>two supercomputers play chess, but we want to watch humans

1:01:13.280 --> 1:01:15.320
<v Speaker 14>play chess because we want to find that one mistake

1:01:15.440 --> 1:01:17.600
<v Speaker 14>or that one thing that goes wrong. Same thing that

1:01:17.640 --> 1:01:20.440
<v Speaker 14>we have with sports. You know, we remember the great moments,

1:01:20.440 --> 1:01:21.760
<v Speaker 14>but we also remember the fumbles.

1:01:21.800 --> 1:01:22.480
<v Speaker 10>I'm a Jets fan.

1:01:22.560 --> 1:01:25.360
<v Speaker 14>I remember lots of them, but.

1:01:26.200 --> 1:01:28.080
<v Speaker 6>You're probably happy that the coach is fired.

1:01:28.520 --> 1:01:32.400
<v Speaker 14>No, I'm not happy until we win, and I'm gonna

1:01:32.400 --> 1:01:33.600
<v Speaker 14>I've been waiting a long time.

1:01:34.360 --> 1:01:36.560
<v Speaker 3>I can't let you get off the tailor hook that easy.

1:01:36.600 --> 1:01:41.120
<v Speaker 3>I have to ask one question about it. There was

1:01:41.400 --> 1:01:45.720
<v Speaker 3>a documentary that came out about you and her this summer.

1:01:45.800 --> 1:01:50.760
<v Speaker 3>I was unfortunately interviewed for it. Did you watch it?

1:01:51.320 --> 1:01:53.800
<v Speaker 14>I watched it recently, actually like put up that I

1:01:53.840 --> 1:01:57.960
<v Speaker 14>watched it, and I wasn't going to watch it because

1:01:58.000 --> 1:01:59.480
<v Speaker 14>I just thought it was going to be like another

1:01:59.520 --> 1:02:02.120
<v Speaker 14>hit piece, and I pretty much stay quiet about this

1:02:02.200 --> 1:02:02.720
<v Speaker 14>kind of stuff.

1:02:04.960 --> 1:02:06.160
<v Speaker 10>And my dad.

1:02:06.000 --> 1:02:07.560
<v Speaker 14>Called me and my mom and they were like, we

1:02:07.680 --> 1:02:09.160
<v Speaker 14>just watched it. We think you should watch it. So

1:02:09.200 --> 1:02:09.480
<v Speaker 14>I did.

1:02:10.000 --> 1:02:10.840
<v Speaker 6>What did you think of it?

1:02:10.920 --> 1:02:12.400
<v Speaker 10>I thought you were incredibly handsome?

1:02:15.760 --> 1:02:16.640
<v Speaker 6>Is there?

1:02:17.240 --> 1:02:19.440
<v Speaker 14>I think it's Look, it's five years later. I think

1:02:19.480 --> 1:02:24.000
<v Speaker 14>everyone it's time to move on. And there was a

1:02:24.040 --> 1:02:26.360
<v Speaker 14>lot of things that were misrepresented. I think that it's

1:02:26.400 --> 1:02:29.760
<v Speaker 14>important in any kind of conflict that people actually communicate

1:02:29.800 --> 1:02:31.560
<v Speaker 14>directly with each other. I think doing it out on

1:02:31.600 --> 1:02:34.000
<v Speaker 14>social media and in front of the whole world is

1:02:34.360 --> 1:02:36.360
<v Speaker 14>not the place. And I think when people actually take

1:02:36.360 --> 1:02:37.800
<v Speaker 14>the time to stand in front of each other, have

1:02:37.800 --> 1:02:41.000
<v Speaker 14>a conversation, usually find out the monster is not real

1:02:41.200 --> 1:02:43.440
<v Speaker 14>and that hasn't happened, and that has not happened. But

1:02:43.480 --> 1:02:46.080
<v Speaker 14>I also think that that's very relative.

1:02:45.720 --> 1:02:47.160
<v Speaker 10>To the entire world right now.

1:02:47.200 --> 1:02:48.680
<v Speaker 14>And I think if people take the time to have

1:02:48.720 --> 1:02:51.360
<v Speaker 14>conversations with each other and speak to each other and

1:02:51.400 --> 1:02:54.160
<v Speaker 14>ask each other where they really stand and understand each other's.

1:02:53.880 --> 1:02:56.800
<v Speaker 10>Cultures, we'd be in a lot better place.

1:02:57.000 --> 1:02:59.400
<v Speaker 14>And I just need to say this personally, because I'm

1:02:59.440 --> 1:03:03.720
<v Speaker 14>wearing this right now. I think with everything we're seeing

1:03:03.760 --> 1:03:06.040
<v Speaker 14>all around the world, we have a responsibility here in

1:03:06.080 --> 1:03:08.959
<v Speaker 14>America to have conversations with each other. If we want

1:03:09.080 --> 1:03:11.479
<v Speaker 14>peace in other places, it starts with us here because

1:03:11.520 --> 1:03:13.280
<v Speaker 14>we have the actually ability to do so.

1:03:13.560 --> 1:03:16.680
<v Speaker 2>That was Scooter Braun, CEO of the American division of

1:03:16.840 --> 1:03:20.080
<v Speaker 2>Hibe Corporation, best known for his work with Taylor Swift

1:03:20.080 --> 1:03:23.200
<v Speaker 2>and Justin Bieber. Braun spoke with Bloomberg's Lucas Shaw from

1:03:23.240 --> 1:03:27.080
<v Speaker 2>our screen Time event in Los Angeles this week. Coming

1:03:27.160 --> 1:03:30.440
<v Speaker 2>up next, what's ahead for the changing landscape of sports media,

1:03:30.840 --> 1:03:33.360
<v Speaker 2>We'll speak with one of the biggest names in sports talk,

1:03:33.560 --> 1:03:37.040
<v Speaker 2>analysis and opinions and straight ahead on this special edition

1:03:37.080 --> 1:03:40.880
<v Speaker 2>of Bloomberg BusinessWeek, bringing you conversations from this week's screen

1:03:40.920 --> 1:03:44.040
<v Speaker 2>Time event in Los Angeles. I'm Matt Miller killing in

1:03:44.080 --> 1:03:47.520
<v Speaker 2>for Carol and Tim, and this is Bloomberg.

1:03:52.000 --> 1:03:52.320
<v Speaker 1>Market.

1:03:52.600 --> 1:03:53.600
<v Speaker 7>You can't predict them.

1:03:53.680 --> 1:03:55.920
<v Speaker 1>Let's look at yesterday's sell off on Wall Street.

1:03:55.800 --> 1:03:58.480
<v Speaker 12>Pigs drivations in terms of bond markets, so when you're.

1:03:58.320 --> 1:04:00.240
<v Speaker 1>Listening to us, you'll come pretty.

1:04:00.440 --> 1:04:02.560
<v Speaker 6>Let's take a look at small capstocks.

1:04:02.560 --> 1:04:11.360
<v Speaker 1>Bloomberg Radio the Bloomberg Business app in Bloomberg Radio dot Com.

1:04:11.520 --> 1:04:16.000
<v Speaker 1>This is Bloomberg BusinessWeek with Carol Messer and Tim Stenebeck

1:04:16.440 --> 1:04:18.560
<v Speaker 1>on Bloomberg Radio.

1:04:19.520 --> 1:04:22.760
<v Speaker 2>This is the weekend edition of Bloomberg BusinessWeek. I'm Matt

1:04:22.840 --> 1:04:25.520
<v Speaker 2>Miller filling in for Carol and Tim. They spent the

1:04:25.560 --> 1:04:29.040
<v Speaker 2>week in Los Angeles at Bloomberg screen Time. The event

1:04:29.080 --> 1:04:32.880
<v Speaker 2>brought together celebrities, entrepreneurs, and media executives in the heart

1:04:32.960 --> 1:04:36.480
<v Speaker 2>of Hollywood to discuss the future of entertainment, and today

1:04:36.480 --> 1:04:40.000
<v Speaker 2>we're bringing you conversations from the gathering. Up Next, we

1:04:40.040 --> 1:04:42.760
<v Speaker 2>speak with Stephen A. Smith, one of the most influential

1:04:42.760 --> 1:04:46.240
<v Speaker 2>figures in sports media, with sharp opinions and a big

1:04:46.280 --> 1:04:49.280
<v Speaker 2>personality both on screen and behind the mic.

1:04:49.600 --> 1:04:50.040
<v Speaker 6>Stephen A.

1:04:50.120 --> 1:04:52.200
<v Speaker 2>Smith is best known as the host of The Steven A.

1:04:52.280 --> 1:04:55.560
<v Speaker 2>Smith Show and First Take. He got together with Lucas

1:04:55.560 --> 1:04:58.120
<v Speaker 2>Shaw at Bloomberg screen Time event at LA this week

1:04:58.360 --> 1:05:01.280
<v Speaker 2>to discuss the sports media l landscape. Let's hear what

1:05:01.360 --> 1:05:02.040
<v Speaker 2>he had to say.

1:05:02.240 --> 1:05:06.000
<v Speaker 3>When you started your career being a columnist at a

1:05:06.040 --> 1:05:09.400
<v Speaker 3>national newspaper was probably the most influential job you could

1:05:09.440 --> 1:05:13.280
<v Speaker 3>have in sports media. You've had talk radio, YESPN, blew up.

1:05:13.640 --> 1:05:16.440
<v Speaker 3>You're now the most recognizable sports media personality.

1:05:16.440 --> 1:05:18.800
<v Speaker 6>I alreay say, how do you see your.

1:05:18.720 --> 1:05:22.800
<v Speaker 3>Business changing with streaming and social media and what you

1:05:23.200 --> 1:05:25.080
<v Speaker 3>have to do to sort of stay on top.

1:05:25.360 --> 1:05:26.600
<v Speaker 15>Well, you've got to diversify.

1:05:26.680 --> 1:05:28.600
<v Speaker 16>You've got to make sure that you're paying attention to

1:05:28.640 --> 1:05:31.120
<v Speaker 16>what the audience wants. You have to understand that who

1:05:31.160 --> 1:05:32.560
<v Speaker 16>your audience is and.

1:05:32.560 --> 1:05:33.200
<v Speaker 15>Where they are.

1:05:33.640 --> 1:05:35.800
<v Speaker 16>The audience that listens to you on radio might be

1:05:35.800 --> 1:05:37.840
<v Speaker 16>different than the audience is watching you and listen to

1:05:37.920 --> 1:05:40.480
<v Speaker 16>you on your podcast and your YouTube show might be

1:05:40.560 --> 1:05:42.920
<v Speaker 16>different than the audience is watching you at ten o'clock

1:05:42.960 --> 1:05:43.760
<v Speaker 16>in the morning.

1:05:43.440 --> 1:05:44.040
<v Speaker 15>On First Take.

1:05:44.440 --> 1:05:47.960
<v Speaker 16>For me, personally, it's not that challenging from the standpoint

1:05:47.960 --> 1:05:51.360
<v Speaker 16>that working at ESPN, there's always been.

1:05:51.240 --> 1:05:54.520
<v Speaker 15>A polporia shows show. What you saw from me.

1:05:54.760 --> 1:05:56.600
<v Speaker 16>On first tape might be a little bit different than

1:05:56.680 --> 1:05:58.240
<v Speaker 16>what you saw for me on NBA Countdown.

1:05:58.280 --> 1:05:59.680
<v Speaker 15>It might be a little bit different than when you

1:05:59.680 --> 1:06:00.560
<v Speaker 15>saw for mean, when.

1:06:00.400 --> 1:06:02.800
<v Speaker 16>We had Outside the Lines, might be a little bit

1:06:02.800 --> 1:06:04.640
<v Speaker 16>different than when you see me on a sports center.

1:06:04.880 --> 1:06:08.000
<v Speaker 16>A lot of times, also, the personality that you're working

1:06:08.000 --> 1:06:11.120
<v Speaker 16>with comes into play. Somebody that's hosting the six o'clock

1:06:11.160 --> 1:06:13.280
<v Speaker 16>Sports Center might be different than somebody that's hosting the

1:06:13.280 --> 1:06:15.480
<v Speaker 16>eleven o'clock might be different than somebody that's hosting the

1:06:15.520 --> 1:06:20.320
<v Speaker 16>overnight coming on before games, so you have a certain attitude,

1:06:20.440 --> 1:06:23.120
<v Speaker 16>and then another another's show.

1:06:23.280 --> 1:06:25.000
<v Speaker 15>You're coming on postgame.

1:06:24.760 --> 1:06:26.920
<v Speaker 16>So it's a different attitude because you saw a different

1:06:26.960 --> 1:06:28.680
<v Speaker 16>you know, you have some highlights, you saw a different

1:06:28.760 --> 1:06:32.160
<v Speaker 16>level of excitement that you want to ingratiate yourself with

1:06:32.240 --> 1:06:35.400
<v Speaker 16>and gravitate to. And so I've always been about the

1:06:35.440 --> 1:06:37.920
<v Speaker 16>business of making sure that I was multi faster than

1:06:37.920 --> 1:06:40.800
<v Speaker 16>in my presentation and my delivery, and just to make

1:06:40.840 --> 1:06:42.880
<v Speaker 16>sure that I'm appealing to the audience and be a

1:06:42.920 --> 1:06:44.400
<v Speaker 16>mindful and cognizant of who.

1:06:44.280 --> 1:06:46.200
<v Speaker 15>Actually is out there watching at.

1:06:46.080 --> 1:06:48.160
<v Speaker 16>A particular moment and time in the day or whatever.

1:06:48.200 --> 1:06:49.840
<v Speaker 16>You and what you need to do and what you

1:06:49.880 --> 1:06:52.280
<v Speaker 16>need to deliver because everybody's looking for something different.

1:06:52.440 --> 1:06:55.760
<v Speaker 6>Yeah, where do you think that most people watch you? Now?

1:06:55.880 --> 1:06:58.920
<v Speaker 6>Is it on ESPN? Is it YouTube? Is it some

1:06:58.960 --> 1:06:59.800
<v Speaker 6>other social network?

1:06:59.880 --> 1:07:01.880
<v Speaker 16>I would tell you I would once upon a time,

1:07:01.920 --> 1:07:04.080
<v Speaker 16>I would have easily said to TESPN, And you can

1:07:04.080 --> 1:07:06.520
<v Speaker 16>easily say that now because of the success of First Take.

1:07:06.600 --> 1:07:08.800
<v Speaker 16>I mean, when you think about the audience, you know,

1:07:08.840 --> 1:07:10.880
<v Speaker 16>at ten o'clock in the morning, when people are at

1:07:10.880 --> 1:07:12.960
<v Speaker 16>work or in school or whatever, we averaging nearly a

1:07:12.960 --> 1:07:18.040
<v Speaker 16>half a million viewers live over video. I personally average

1:07:18.080 --> 1:07:21.040
<v Speaker 16>over two billion views a year. So I know that,

1:07:21.920 --> 1:07:25.080
<v Speaker 16>And then that's just what First take. That doesn't take

1:07:25.120 --> 1:07:28.480
<v Speaker 16>into account Sports Center and NBA Countdown. And then now

1:07:28.520 --> 1:07:30.440
<v Speaker 16>that I've got my YouTube show, I've had it for

1:07:30.480 --> 1:07:33.400
<v Speaker 16>about eighteen months now. I've got about eight hundred and

1:07:33.440 --> 1:07:37.120
<v Speaker 16>seventy seven thousand subscribers this month. This month alone, I

1:07:37.120 --> 1:07:40.120
<v Speaker 16>did over eighteen million views. I've had over two point

1:07:40.120 --> 1:07:42.520
<v Speaker 16>two million watched hours and stuff like that. And so

1:07:42.920 --> 1:07:44.960
<v Speaker 16>you're looking at those numbers and you're saying, well, that's

1:07:45.000 --> 1:07:47.560
<v Speaker 16>just three days a week, and that's me talking about

1:07:47.560 --> 1:07:50.680
<v Speaker 16>pop culture and entertainment with the B Diddy scandal or whatever.

1:07:50.760 --> 1:07:53.240
<v Speaker 16>And you know, it's not me getting in the sports

1:07:53.640 --> 1:07:56.480
<v Speaker 16>its heavily. It's not even getting in the politics as

1:07:56.480 --> 1:07:59.520
<v Speaker 16>the election draws there, especially because there were times that

1:07:59.560 --> 1:08:01.960
<v Speaker 16>I was talking about Trump. I was talking abou Kamala Harris.

1:08:02.400 --> 1:08:05.000
<v Speaker 16>I was on the air eight nine months ago saying

1:08:05.080 --> 1:08:07.760
<v Speaker 16>Joe Biden needed to step down. It just ain't there anymore,

1:08:07.800 --> 1:08:09.600
<v Speaker 16>you know, I was saying that. I didn't say it

1:08:09.720 --> 1:08:11.920
<v Speaker 16>enjoying lee. I said, you certainly don't want to be

1:08:12.000 --> 1:08:14.360
<v Speaker 16>denigrating to president of the United States or anything like that.

1:08:14.400 --> 1:08:15.439
<v Speaker 7>But I saw what I saw.

1:08:15.880 --> 1:08:19.160
<v Speaker 16>And so for me talking to that audience knowing that

1:08:20.760 --> 1:08:24.680
<v Speaker 16>they're not familiar. At one time they weren't familiar with that,

1:08:24.720 --> 1:08:27.120
<v Speaker 16>but then those algorithms kicking you talk about it enough,

1:08:27.160 --> 1:08:29.960
<v Speaker 16>all of a sudden your name comes up, you make headlines,

1:08:29.960 --> 1:08:32.559
<v Speaker 16>and then they attach you to those subject matters, and

1:08:32.600 --> 1:08:34.439
<v Speaker 16>then before you know it, you have an even bigger

1:08:34.439 --> 1:08:36.840
<v Speaker 16>audience that you never anticipated. And so I think the

1:08:36.880 --> 1:08:39.040
<v Speaker 16>exciting part for me is the answer to that question

1:08:39.160 --> 1:08:39.919
<v Speaker 16>is ESPN.

1:08:40.439 --> 1:08:43.200
<v Speaker 15>But it was definitively and very quickly.

1:08:43.160 --> 1:08:46.719
<v Speaker 16>ESPN, you know, a year ago, and now I'm saying

1:08:47.520 --> 1:08:51.559
<v Speaker 16>it's changing, right, it's changing. They still watching me on ESPN,

1:08:51.640 --> 1:08:53.439
<v Speaker 16>but the audiences growing on YouTube.

1:08:53.520 --> 1:08:56.520
<v Speaker 6>Does ESPN get upset if you talked about politics?

1:08:56.680 --> 1:08:56.880
<v Speaker 15>No?

1:08:57.560 --> 1:09:02.040
<v Speaker 16>No, I mean they did want upon a time, and

1:09:02.080 --> 1:09:05.479
<v Speaker 16>I think that Jimmy Pittaro, the president of ESPN, he

1:09:05.520 --> 1:09:08.640
<v Speaker 16>came on in twenty and eighteen and what he took

1:09:08.680 --> 1:09:11.559
<v Speaker 16>over for John Skipper who had exited. He was on

1:09:11.600 --> 1:09:13.919
<v Speaker 16>the record saying that we need to veer away from politics.

1:09:13.920 --> 1:09:15.559
<v Speaker 16>And there was a whole bunch of my colleagues that

1:09:15.560 --> 1:09:17.479
<v Speaker 16>were very upset with me for co.

1:09:17.600 --> 1:09:18.759
<v Speaker 15>Signing that mandate.

1:09:19.080 --> 1:09:21.200
<v Speaker 16>But I co signed it, and even all these years later,

1:09:21.240 --> 1:09:23.920
<v Speaker 16>I'm here to defend the president of ESPN at that time,

1:09:24.360 --> 1:09:27.280
<v Speaker 16>because we had gotten so political that we went away

1:09:27.320 --> 1:09:29.599
<v Speaker 16>from giving the audience what it came to expect.

1:09:30.080 --> 1:09:30.840
<v Speaker 15>You're coming to.

1:09:30.760 --> 1:09:34.000
<v Speaker 16>Expect sports, and then we felt it was perfectly okay

1:09:34.040 --> 1:09:36.880
<v Speaker 16>to just get in the stuff that expanded beyond sports.

1:09:36.920 --> 1:09:40.599
<v Speaker 16>You had the the Colin Kaepernick protesting and kneeling. We

1:09:40.640 --> 1:09:43.559
<v Speaker 16>saw the President Trump at the time hijacked the narrative

1:09:43.600 --> 1:09:46.160
<v Speaker 16>and turned it into some issue involving patriotism and all

1:09:46.160 --> 1:09:47.360
<v Speaker 16>of this other stuff, when it.

1:09:47.320 --> 1:09:48.160
<v Speaker 15>Really wasn't about that.

1:09:48.200 --> 1:09:50.080
<v Speaker 16>It was about him getting back at owners wouldn't let

1:09:50.120 --> 1:09:52.280
<v Speaker 16>him be coming owner in twenty fourteen for the Buffalo Bills,

1:09:52.479 --> 1:09:54.080
<v Speaker 16>and you saw all of this other stuff going on,

1:09:54.600 --> 1:09:58.759
<v Speaker 16>and you know, we got away from giving the audience

1:09:58.920 --> 1:10:02.080
<v Speaker 16>what the audience came to say. And I'm a businessman,

1:10:02.520 --> 1:10:06.040
<v Speaker 16>and my attitude is what do the patrons want? What

1:10:06.080 --> 1:10:09.320
<v Speaker 16>are their expectations? What did they come to see? And

1:10:09.400 --> 1:10:12.439
<v Speaker 16>if you know what that is, and you sign your

1:10:12.560 --> 1:10:15.640
<v Speaker 16>name on the dotted line committing to giving the audience that,

1:10:16.080 --> 1:10:17.960
<v Speaker 16>and you owe it to them to give them that.

1:10:18.200 --> 1:10:21.400
<v Speaker 16>And when Jimmy Pittaro was making the declaration that we

1:10:21.400 --> 1:10:24.200
<v Speaker 16>weren't doing that to the degree that we once did,

1:10:24.560 --> 1:10:27.680
<v Speaker 16>he was absolutely right. But once we got back to

1:10:27.760 --> 1:10:31.240
<v Speaker 16>doing what we do, sports politics and all of that

1:10:31.280 --> 1:10:34.120
<v Speaker 16>stuff in between social comment, terman and stuff and intertwined

1:10:34.200 --> 1:10:36.439
<v Speaker 16>with the world of sports is inescapable. And now we

1:10:36.520 --> 1:10:39.439
<v Speaker 16>get that, But six years ago or so they didn't

1:10:39.479 --> 1:10:40.840
<v Speaker 16>get it like they do now.

1:10:40.960 --> 1:10:43.479
<v Speaker 3>But I suppose there's a reason you're doing that on

1:10:43.520 --> 1:10:45.920
<v Speaker 3>your own as opposed to on the airwaves.

1:10:46.400 --> 1:10:49.280
<v Speaker 16>Well again, because I'm a businessman and I'm thinking about

1:10:49.280 --> 1:10:50.240
<v Speaker 16>the business of Stephen A.

1:10:50.280 --> 1:10:50.639
<v Speaker 15>Smith.

1:10:51.400 --> 1:10:53.960
<v Speaker 16>I'm not thinking about Steven A. Smith the employee. I'm

1:10:53.960 --> 1:10:57.519
<v Speaker 16>thinking about straight shoot of productions, straight shoot media and

1:10:57.520 --> 1:11:00.679
<v Speaker 16>the kind of aspirations that I have. That doesn't mean

1:11:00.680 --> 1:11:02.360
<v Speaker 16>that I want to go away, that I want to

1:11:02.360 --> 1:11:04.600
<v Speaker 16>stop doing sports, that I want to stop working for

1:11:04.640 --> 1:11:07.120
<v Speaker 16>the people that I work for, but they are keenly

1:11:07.160 --> 1:11:09.519
<v Speaker 16>aware of the fact that I have a strong desire

1:11:09.600 --> 1:11:13.120
<v Speaker 16>to expand I've done. You will see me on News

1:11:13.240 --> 1:11:15.760
<v Speaker 16>Nation a week before the election night doing a town hall.

1:11:15.800 --> 1:11:18.000
<v Speaker 16>You see me on CNN, you see me on Fox News.

1:11:18.600 --> 1:11:22.120
<v Speaker 16>You've seen me being interviewed by political commentators and what

1:11:22.200 --> 1:11:24.439
<v Speaker 16>have you I like doing that. You've seen me talking

1:11:24.479 --> 1:11:27.200
<v Speaker 16>about p Diddy one minute, Will Smith, Chris Rock the next,

1:11:27.280 --> 1:11:29.680
<v Speaker 16>and so on and so forth. I like, I'm one

1:11:29.760 --> 1:11:32.160
<v Speaker 16>of those guys that wherever the pulse of the people

1:11:32.240 --> 1:11:35.240
<v Speaker 16>are at, what is on their mind and what they're

1:11:35.320 --> 1:11:37.640
<v Speaker 16>most interested in, I like to be a part of

1:11:37.680 --> 1:11:40.519
<v Speaker 16>that dialogue and a part of that conversation. And so

1:11:41.040 --> 1:11:45.639
<v Speaker 16>when you come to me being from come and graduating

1:11:45.640 --> 1:11:49.360
<v Speaker 16>from an HBCU with sim State, struggling the way that

1:11:49.400 --> 1:11:52.080
<v Speaker 16>I did to get to where I am, climbing up

1:11:52.080 --> 1:11:53.760
<v Speaker 16>the charts from the New York Daily News as a

1:11:53.800 --> 1:11:56.719
<v Speaker 16>high school reporter, to the Philadelphia Inquirer, working on TVC

1:11:56.840 --> 1:11:59.479
<v Speaker 16>and sside of Fox Sports to ESPN.

1:11:59.800 --> 1:12:02.840
<v Speaker 15>I bust my to get to where I am.

1:12:03.400 --> 1:12:07.360
<v Speaker 16>And I don't want anyone telling me we're pigeonholing you

1:12:07.400 --> 1:12:09.200
<v Speaker 16>in this box and we have you in this corner,

1:12:09.240 --> 1:12:11.280
<v Speaker 16>and that's where you belong and that's where you'll stay.

1:12:11.760 --> 1:12:14.320
<v Speaker 16>I'm not rolling like that. That's not who I am,

1:12:14.400 --> 1:12:15.479
<v Speaker 16>and that's not who I'm going to be.

1:12:16.200 --> 1:12:18.160
<v Speaker 3>Okay, that's a good cue for I want to read

1:12:18.160 --> 1:12:21.040
<v Speaker 3>you a quote your profile by GQ in twenty nineteen.

1:12:21.439 --> 1:12:23.840
<v Speaker 16>Okay in twenty nineteen, I don't remember, but I'll take

1:12:23.880 --> 1:12:25.759
<v Speaker 16>your word for you.

1:12:25.760 --> 1:12:30.040
<v Speaker 3>Your your former colleague Max Caliban had a quote about you. Okay,

1:12:30.120 --> 1:12:32.360
<v Speaker 3>Stephen A is never going to be happy. That's why

1:12:32.360 --> 1:12:34.760
<v Speaker 3>he's successful. When you're on the top. When you're when

1:12:34.800 --> 1:12:36.639
<v Speaker 3>you're on top, the reason you're there is because you're

1:12:36.640 --> 1:12:38.360
<v Speaker 3>a chronically dissatisfied person.

1:12:39.439 --> 1:12:44.519
<v Speaker 15>I think that's a bit excessive. I think that.

1:12:45.200 --> 1:12:48.040
<v Speaker 16>If you know me, if you know my inner circle,

1:12:48.840 --> 1:12:50.960
<v Speaker 16>my family, my friends, my loved ones.

1:12:52.600 --> 1:12:56.120
<v Speaker 15>I am a very happy man. I'm living a pretty

1:12:56.120 --> 1:12:56.599
<v Speaker 15>good life.

1:12:56.680 --> 1:12:58.880
<v Speaker 6>Things like. You know, I'm working real hard.

1:12:59.160 --> 1:13:00.960
<v Speaker 15>I work real hard because I love to work.

1:13:01.000 --> 1:13:03.760
<v Speaker 16>I get that from my mama, God rest her soul.

1:13:03.840 --> 1:13:06.599
<v Speaker 16>And I'm not I'm very proud of that. I'm you know,

1:13:06.680 --> 1:13:09.519
<v Speaker 16>to me. You know I'm off when the job is done.

1:13:09.800 --> 1:13:12.599
<v Speaker 16>You know, I believe in excellence. I believe in doing

1:13:12.640 --> 1:13:14.960
<v Speaker 16>the best that I possibly can do and exhausting every

1:13:15.000 --> 1:13:17.400
<v Speaker 16>means necessary to be the best that I can be.

1:13:17.840 --> 1:13:19.680
<v Speaker 16>But in the same breath, don't get a twist that

1:13:19.720 --> 1:13:22.320
<v Speaker 16>I know how to have a good time, and I

1:13:22.400 --> 1:13:26.640
<v Speaker 16>have a good time quite often. It's just that, you know,

1:13:27.120 --> 1:13:31.120
<v Speaker 16>when people work with you, there's a level of intensity

1:13:31.520 --> 1:13:32.839
<v Speaker 16>that I bring to the table.

1:13:33.280 --> 1:13:33.479
<v Speaker 10>You know.

1:13:33.600 --> 1:13:37.439
<v Speaker 16>Nick Saban has one of my favorite quotes, Mediocre people

1:13:37.439 --> 1:13:41.559
<v Speaker 16>don't like winners, and winners don't like mediocre people. And

1:13:42.200 --> 1:13:45.040
<v Speaker 16>I listen to that, and I nodded my head in affirmation,

1:13:45.240 --> 1:13:49.080
<v Speaker 16>because you can work with people and I'm certainly not

1:13:49.080 --> 1:13:52.080
<v Speaker 16>talking about Max Kellerman here, but you can work with

1:13:52.160 --> 1:13:55.639
<v Speaker 16>people as I have in my career, and you run

1:13:55.680 --> 1:14:00.519
<v Speaker 16>across people that they're fine with getting by. They're fine

1:14:00.520 --> 1:14:03.679
<v Speaker 16>with punching that proverbial clock, turning it in.

1:14:04.040 --> 1:14:08.400
<v Speaker 15>Making sure they did their job, and that's all they

1:14:08.439 --> 1:14:08.960
<v Speaker 15>gotta do.

1:14:09.720 --> 1:14:13.400
<v Speaker 16>No, there's a result at the end. You know, we're

1:14:13.439 --> 1:14:16.640
<v Speaker 16>in the ratings and revenue business. Are we winning? I

1:14:16.680 --> 1:14:18.640
<v Speaker 16>don't care who I'm working for. This is one of

1:14:18.640 --> 1:14:23.000
<v Speaker 16>the reasons that I believe that I'm one of the

1:14:23.040 --> 1:14:26.439
<v Speaker 16>greatest people to work with, because I think about my

1:14:26.600 --> 1:14:29.960
<v Speaker 16>partners just as much as I think about myself. Are

1:14:30.000 --> 1:14:34.799
<v Speaker 16>we winning? If I'm winning but you're losing, We're losing

1:14:35.280 --> 1:14:37.960
<v Speaker 16>because we have not achieved success for the both of us.

1:14:38.360 --> 1:14:40.920
<v Speaker 16>We know what the mandate is. And when you run

1:14:40.960 --> 1:14:45.080
<v Speaker 16>across people that don't care about whether or not somebody

1:14:45.120 --> 1:14:48.519
<v Speaker 16>else is winning, and all they're concerned about is the

1:14:48.520 --> 1:14:52.120
<v Speaker 16>fact that they got theirs, they're very easy to spot,

1:14:52.840 --> 1:14:55.960
<v Speaker 16>they're not difficult to locate. And when you have to

1:14:56.040 --> 1:14:59.720
<v Speaker 16>work with them every day and you're committed to success,

1:15:00.040 --> 1:15:03.439
<v Speaker 16>that's a very difficult proposition to partake.

1:15:03.000 --> 1:15:04.639
<v Speaker 15>Of on each passing day.

1:15:05.040 --> 1:15:06.880
<v Speaker 16>And I'm one of those people that I may not

1:15:07.000 --> 1:15:09.920
<v Speaker 16>say much, but I want you to be uncomfortable with me.

1:15:10.320 --> 1:15:11.840
<v Speaker 15>I want you to be uncomfortable around me.

1:15:11.920 --> 1:15:13.640
<v Speaker 16>I want you to be around me, and you know

1:15:13.680 --> 1:15:15.400
<v Speaker 16>you want to get away from me as fast as

1:15:15.400 --> 1:15:15.680
<v Speaker 16>you can.

1:15:15.720 --> 1:15:18.160
<v Speaker 15>If you mediocre, you satisfied with being mediocre, and you.

1:15:18.160 --> 1:15:20.960
<v Speaker 16>Don't give a damn, and you don't care about the results,

1:15:21.000 --> 1:15:22.200
<v Speaker 16>you don't care about winning.

1:15:22.600 --> 1:15:24.320
<v Speaker 15>I want you uncomfortable.

1:15:24.880 --> 1:15:27.439
<v Speaker 16>I really really do you know people like the late

1:15:27.439 --> 1:15:30.440
<v Speaker 16>great Kobe Bryant, God rest his soul, you knew his mentality.

1:15:30.920 --> 1:15:33.080
<v Speaker 16>Michael Jordan has been a friend of mine for years.

1:15:33.120 --> 1:15:35.680
<v Speaker 16>You knew his mentality. I mean, these are people that

1:15:35.720 --> 1:15:39.960
<v Speaker 16>are winners, and I believe in being a winner.

1:15:40.240 --> 1:15:42.160
<v Speaker 15>I'm exhausting yourself to do it.

1:15:43.000 --> 1:15:43.479
<v Speaker 6>I'm curious.

1:15:43.520 --> 1:15:46.280
<v Speaker 3>You may have the comment about people who are out

1:15:46.280 --> 1:15:48.280
<v Speaker 3>for themselves, and I'm going to prophecy by saying that's

1:15:48.320 --> 1:15:51.240
<v Speaker 3>not what I'm implicating for you here. But you're in

1:15:51.240 --> 1:15:54.080
<v Speaker 3>the middle of negotiating a really big new contract right

1:15:54.600 --> 1:15:57.160
<v Speaker 3>at the same time that ESPN is firing a bunch

1:15:57.200 --> 1:16:01.240
<v Speaker 3>of right you see how that might rub some people

1:16:01.280 --> 1:16:01.800
<v Speaker 3>the wrong way.

1:16:02.000 --> 1:16:08.000
<v Speaker 15>I could see that. I don't give it. Let me

1:16:08.040 --> 1:16:09.679
<v Speaker 15>tell you. Let me answer that question.

1:16:09.760 --> 1:16:10.000
<v Speaker 7>Why.

1:16:10.960 --> 1:16:13.000
<v Speaker 15>That is one question. I'm not offended by the question.

1:16:13.040 --> 1:16:14.439
<v Speaker 15>So I want to make sure you understand that.

1:16:14.960 --> 1:16:16.800
<v Speaker 16>But that is a question and I'm not going to

1:16:16.840 --> 1:16:17.920
<v Speaker 16>take from anybody.

1:16:18.240 --> 1:16:21.439
<v Speaker 2>That was Stephen A. Smith speaking with Bloomberg's Lucas Shaw

1:16:21.479 --> 1:16:23.920
<v Speaker 2>from our screen Time event in Los Angeles this week.

1:16:24.160 --> 1:16:26.679
<v Speaker 2>If you missed any part of that or our other

1:16:26.720 --> 1:16:29.680
<v Speaker 2>conversations from screen Time, you can find them all on

1:16:29.680 --> 1:16:33.280
<v Speaker 2>the Bloomberg Podcast YouTube page, along with our live stream

1:16:33.360 --> 1:16:36.720
<v Speaker 2>every weekday starting at seven am. That does it for

1:16:36.760 --> 1:16:40.080
<v Speaker 2>this special weekend edition of Bloomberg Business Week. I'm Matt

1:16:40.080 --> 1:16:42.599
<v Speaker 2>Miller filling in with Carol and Tim. They'll be back

1:16:42.640 --> 1:16:45.320
<v Speaker 2>with you Monday live at two pm Eastern on Bloomberg

1:16:45.439 --> 1:16:49.040
<v Speaker 2>Radio and Television. Stay with us. Today's top stories and

1:16:49.080 --> 1:16:54.760
<v Speaker 2>global business headlines are coming up right now.