1 00:00:00,080 --> 00:00:03,760 Speaker 1: I'm off my game today. No, you're not. People are 2 00:00:03,760 --> 00:00:05,600 Speaker 1: going to have to start making better content. I think 3 00:00:05,600 --> 00:00:07,160 Speaker 1: we're gonna be talking about this for a long time. 4 00:00:07,200 --> 00:00:10,200 Speaker 1: When you program for everyone, you program for no one. 5 00:00:10,200 --> 00:00:12,280 Speaker 1: I think it's a word purpose driven platform. Like we're 6 00:00:12,320 --> 00:00:15,640 Speaker 1: trying to get to substance? How was that? Are you 7 00:00:15,680 --> 00:00:19,400 Speaker 1: happy with that? This is marketing therapy right now? It 8 00:00:19,480 --> 00:00:24,520 Speaker 1: really is? What's up? I'm Laura currently and I'm Alexa Kristen. 9 00:00:24,560 --> 00:00:27,920 Speaker 1: Welcome back to Atlantia. Episode twelve, The Dirty Dozen, The 10 00:00:28,120 --> 00:00:32,680 Speaker 1: duty doesn't And we had someone who's squeaky clean who's 11 00:00:32,760 --> 00:00:35,840 Speaker 1: joining us, Keith Grossman, the c r O of Bloomberg Media. 12 00:00:36,000 --> 00:00:39,040 Speaker 1: So excited to have Keith. He is like literally everywhere 13 00:00:39,080 --> 00:00:41,800 Speaker 1: we've known him for actually before he was at Bloomberg, 14 00:00:41,840 --> 00:00:44,560 Speaker 1: when he was at Wired. And we think that Bloomberg 15 00:00:44,880 --> 00:00:47,680 Speaker 1: is really interesting because they're well positioned not just as 16 00:00:47,680 --> 00:00:50,440 Speaker 1: a media company, right, but they have a portfolio of 17 00:00:50,479 --> 00:00:53,400 Speaker 1: products and something that we're going to talk about I 18 00:00:53,440 --> 00:00:57,840 Speaker 1: think pre Keith is they really own business audience in 19 00:00:57,880 --> 00:01:00,680 Speaker 1: a different way and they have opportunity need to break 20 00:01:00,680 --> 00:01:04,600 Speaker 1: out because they don't have the legacy relationships um to 21 00:01:04,760 --> 00:01:07,319 Speaker 1: cable companies to carry your fees to those types of 22 00:01:07,360 --> 00:01:11,200 Speaker 1: things that a lot of business news and media has today. Yeah, 23 00:01:11,240 --> 00:01:13,760 Speaker 1: I think one of the things that we should dive 24 00:01:13,800 --> 00:01:17,400 Speaker 1: into a little bit that appears to be on everybody's 25 00:01:17,440 --> 00:01:21,319 Speaker 1: mind these days is this idea of renting versus owning 26 00:01:21,520 --> 00:01:25,760 Speaker 1: your audience. And I think the Facebook Google duopoly which 27 00:01:25,800 --> 00:01:31,000 Speaker 1: basically owns the world, and this idea that publishers are feeling, 28 00:01:31,560 --> 00:01:35,679 Speaker 1: um squeeze, squeeze. Squeeze is a nice word, um basically 29 00:01:35,680 --> 00:01:39,039 Speaker 1: saying like, look, we have no choice seemingly but to 30 00:01:39,080 --> 00:01:42,679 Speaker 1: put our content on these platforms for discovery because this 31 00:01:42,720 --> 00:01:44,840 Speaker 1: is where audiences are in the feed or in the 32 00:01:44,920 --> 00:01:48,840 Speaker 1: nav bar, whatever the case may be. Um, within those Facebook, 33 00:01:48,920 --> 00:01:53,760 Speaker 1: Google platforms and ecosystems. And so what does this leave 34 00:01:53,880 --> 00:01:57,240 Speaker 1: us with and doesn't leave us with audience right that 35 00:01:57,280 --> 00:01:59,320 Speaker 1: we actually own? And we Yeah, you're gonna say, like 36 00:01:59,360 --> 00:02:01,160 Speaker 1: we talked to Dave Plots on I don't remember what 37 00:02:01,280 --> 00:02:04,160 Speaker 1: episode it was, but about Atlas Obscura, and he had 38 00:02:04,200 --> 00:02:08,760 Speaker 1: a really smart, really clear comment about what happens for 39 00:02:08,840 --> 00:02:13,080 Speaker 1: publishers when they're just promoting on Facebook. Right, Like you 40 00:02:13,120 --> 00:02:15,760 Speaker 1: syndicate your content, you put it out there because you 41 00:02:15,800 --> 00:02:19,200 Speaker 1: can target right down to seemingly the person or very 42 00:02:19,280 --> 00:02:23,040 Speaker 1: very close to and they see your article, they see 43 00:02:23,040 --> 00:02:26,239 Speaker 1: your video, but you don't create a relationship with them. 44 00:02:26,280 --> 00:02:29,720 Speaker 1: They've kind of thanked Facebook for putting something relevant in 45 00:02:29,760 --> 00:02:31,400 Speaker 1: their feed, and they move on. And then it's like, 46 00:02:31,440 --> 00:02:33,880 Speaker 1: was that Atlas Obscuria or was that Expedia or was 47 00:02:33,919 --> 00:02:36,360 Speaker 1: that Airbnb? I don't know, but didn't matter no, because 48 00:02:36,360 --> 00:02:38,200 Speaker 1: I read the content and I moved on. And I 49 00:02:38,240 --> 00:02:41,120 Speaker 1: think his point was you own it, you don't own audience. 50 00:02:41,200 --> 00:02:43,239 Speaker 1: And then what do you do? How do you actually 51 00:02:43,919 --> 00:02:47,359 Speaker 1: create a relationship that can go further and actually can 52 00:02:47,360 --> 00:02:51,000 Speaker 1: be monetized in meaningful ways to the publisher or a 53 00:02:51,040 --> 00:02:56,280 Speaker 1: brand from a financial perspective and from building out product perspective, 54 00:02:56,560 --> 00:02:59,720 Speaker 1: But also you're doing it based on what the audience 55 00:02:59,760 --> 00:03:02,640 Speaker 1: want and likes, and you're super serving them, right, which 56 00:03:02,639 --> 00:03:07,519 Speaker 1: brings an interesting intersection in the industry and the fact 57 00:03:07,560 --> 00:03:11,280 Speaker 1: that you know you would then go to Bloomberg because 58 00:03:11,320 --> 00:03:14,360 Speaker 1: you know that people are engaging with that brand. Where 59 00:03:14,360 --> 00:03:17,040 Speaker 1: I think what David Plattz was getting to was, if 60 00:03:17,080 --> 00:03:19,200 Speaker 1: I'm a brand, why do I need to go to 61 00:03:19,240 --> 00:03:22,600 Speaker 1: Atlas Obscura when I can just cut through and build 62 00:03:22,639 --> 00:03:27,720 Speaker 1: similar content and use Facebook's platform and audience to reach 63 00:03:27,880 --> 00:03:34,040 Speaker 1: that same demographics. Right, And so that puts media companies 64 00:03:34,040 --> 00:03:35,600 Speaker 1: on their back foot to say, what else do we 65 00:03:35,640 --> 00:03:38,520 Speaker 1: have in this house that we can offer to brands 66 00:03:38,560 --> 00:03:41,080 Speaker 1: to engage them from a unique point of view? This 67 00:03:41,120 --> 00:03:45,200 Speaker 1: is classic marketing, right. You don't build a product because 68 00:03:45,440 --> 00:03:48,840 Speaker 1: you need to build a product right to monetize. You 69 00:03:48,920 --> 00:03:53,000 Speaker 1: build a product to serve a market need, right, and 70 00:03:53,200 --> 00:03:55,600 Speaker 1: what's the market need? And then you go in And 71 00:03:55,640 --> 00:03:58,400 Speaker 1: I think one of the most astonishing things in this 72 00:03:58,480 --> 00:04:01,680 Speaker 1: industry is for men, any of the larger media companies, 73 00:04:01,880 --> 00:04:05,200 Speaker 1: I don't even think they've begun to tap into or 74 00:04:05,280 --> 00:04:09,120 Speaker 1: think about exactly, like, what do I have within the 75 00:04:09,160 --> 00:04:14,120 Speaker 1: confines of this company that nobody else can produce? So 76 00:04:14,200 --> 00:04:16,640 Speaker 1: if you come to me Hulu, or you come to 77 00:04:16,680 --> 00:04:19,479 Speaker 1: me ESPN, or you come to me, insert you know 78 00:04:19,920 --> 00:04:23,839 Speaker 1: expert in this industry to the table and say, yeah, 79 00:04:24,120 --> 00:04:26,320 Speaker 1: we can give you eyeballs an audience, but actually I 80 00:04:26,320 --> 00:04:29,240 Speaker 1: want to offer you intelligence. I want to educate you 81 00:04:29,360 --> 00:04:32,640 Speaker 1: on what people are doing in their homes sun up 82 00:04:32,680 --> 00:04:36,920 Speaker 1: to sundown around streaming. I'd rather pay you for that. 83 00:04:37,000 --> 00:04:40,880 Speaker 1: Hulu then some Nielsen data set that's six months old. 84 00:04:43,320 --> 00:04:46,240 Speaker 1: That um is this a thousand person sample and we 85 00:04:46,279 --> 00:04:50,400 Speaker 1: don't know who those thousand people are. So diversify your portfolios. 86 00:04:50,440 --> 00:04:53,360 Speaker 1: People come to us with something other to sell than 87 00:04:53,480 --> 00:04:56,120 Speaker 1: a three by two fifty. And after this break, we're 88 00:04:56,160 --> 00:04:58,640 Speaker 1: gonna wake up on a magic Tuesday with Keith Always 89 00:04:58,680 --> 00:05:03,479 Speaker 1: on Grossman three two fifties, we'll be back with Keith 90 00:05:03,480 --> 00:05:19,760 Speaker 1: Grossman from Bloomberg. So we're back with Keith Grossman, the 91 00:05:19,760 --> 00:05:23,080 Speaker 1: c r O of Bloomberg. Welcome, Keith, thank you, thanks 92 00:05:23,120 --> 00:05:25,680 Speaker 1: for having me a buddy of ours long time. And 93 00:05:25,720 --> 00:05:28,640 Speaker 1: if anyone doesn't know Keith, then something's wrong with you. You 94 00:05:28,400 --> 00:05:30,640 Speaker 1: You need to be on Instagram. You need to be 95 00:05:30,680 --> 00:05:33,960 Speaker 1: in If you're not, Yeah, exactly, but you should follow 96 00:05:34,040 --> 00:05:37,080 Speaker 1: Keith exactly. What's your Insta handle? I try to make 97 00:05:37,080 --> 00:05:41,800 Speaker 1: it very simple, Keith Grossman. I love it so Keith, 98 00:05:41,839 --> 00:05:44,120 Speaker 1: you were actually before we get into all of the 99 00:05:44,160 --> 00:05:48,799 Speaker 1: fun things happening at Bloomberg Media, tell everybody your favorite 100 00:05:49,440 --> 00:05:56,000 Speaker 1: marketoonistist Fishburne. If you don't follow him on Instagram, he's amazing. 101 00:05:56,160 --> 00:05:59,920 Speaker 1: But he's a cartoonist who does cartoons that depict the 102 00:06:00,160 --> 00:06:02,880 Speaker 1: ridiculousness of our industry, which is also the impetus of 103 00:06:02,880 --> 00:06:05,080 Speaker 1: the show. I know. This is why I bring it up, 104 00:06:05,080 --> 00:06:07,600 Speaker 1: and I think it's it's great. But my favorite all 105 00:06:07,720 --> 00:06:11,320 Speaker 1: time cartoon is because I have a three year old daughter, Ellie, 106 00:06:11,360 --> 00:06:15,400 Speaker 1: and it's a father and he is sitting next to 107 00:06:15,480 --> 00:06:18,800 Speaker 1: his daughter at bedtime. She's in her bed and the 108 00:06:18,839 --> 00:06:20,919 Speaker 1: caption is she's holding a book and it says, Daddy, 109 00:06:20,920 --> 00:06:23,360 Speaker 1: we read me this piece of branded content. It's right, 110 00:06:24,640 --> 00:06:26,920 Speaker 1: And that's your litmus test. Yet to find an editor 111 00:06:26,960 --> 00:06:31,120 Speaker 1: that finds it funny. But but no, But in all seriousness, 112 00:06:31,160 --> 00:06:33,359 Speaker 1: I think that it represents a really important aspect of 113 00:06:33,360 --> 00:06:36,400 Speaker 1: our industry, which is there is a point where when 114 00:06:36,480 --> 00:06:39,720 Speaker 1: you digitize content and you put it online, nobody distinguishes 115 00:06:39,800 --> 00:06:42,760 Speaker 1: between whether or not it is sponsored or if it's 116 00:06:42,880 --> 00:06:45,960 Speaker 1: editorially driven. They only see it as sponsored if it 117 00:06:46,160 --> 00:06:49,240 Speaker 1: is bad interesting. And I think that the two of you, 118 00:06:49,360 --> 00:06:53,000 Speaker 1: from just knowing you both for years, would agree we do. 119 00:06:53,400 --> 00:06:54,880 Speaker 1: So tell us a little bit about what you've got 120 00:06:54,920 --> 00:06:57,320 Speaker 1: going on at Bloomberg Media, and you've just come off 121 00:06:57,360 --> 00:06:59,600 Speaker 1: the upfront and a lot of news that came out 122 00:06:59,640 --> 00:07:04,960 Speaker 1: of that Twitter Twitter dreaming news. Sure, So I don't 123 00:07:04,960 --> 00:07:06,680 Speaker 1: know if you how of me you are with what 124 00:07:07,080 --> 00:07:09,200 Speaker 1: Twitter is doing in terms of where they're looking at 125 00:07:09,200 --> 00:07:11,760 Speaker 1: their business. But as they realized that one of the 126 00:07:11,760 --> 00:07:13,920 Speaker 1: areas that they can grow on is in terms of 127 00:07:13,960 --> 00:07:16,800 Speaker 1: moving away from text based messaging and moving more towards 128 00:07:16,960 --> 00:07:21,160 Speaker 1: video streaming, we had the very fortunate ability to take 129 00:07:21,280 --> 00:07:24,840 Speaker 1: the existing partnership that we've had with Twitter and you know, 130 00:07:25,080 --> 00:07:30,720 Speaker 1: parlayed into ultimately what will be seven live breaking news 131 00:07:31,520 --> 00:07:35,960 Speaker 1: social network that will go on there in November fifteenth. 132 00:07:36,120 --> 00:07:39,320 Speaker 1: Is what we're they we're aiming for, and it's, uh, 133 00:07:39,440 --> 00:07:41,520 Speaker 1: we're going to be the exclusive news network of Twitter 134 00:07:41,720 --> 00:07:45,480 Speaker 1: through and uh, you know, the response in the market 135 00:07:45,480 --> 00:07:48,200 Speaker 1: place has been amazing. Was the coverage that you did 136 00:07:48,600 --> 00:07:53,520 Speaker 1: of the twenty sixteen election a proxy for that. During 137 00:07:53,560 --> 00:07:55,720 Speaker 1: the election cycle, one of the things that we realized 138 00:07:55,840 --> 00:07:59,320 Speaker 1: was we have huge advantage by not having the authentication 139 00:07:59,360 --> 00:08:02,880 Speaker 1: requirements that other cable providers have, so we could stream 140 00:08:02,960 --> 00:08:05,760 Speaker 1: over the top two you know, Apple TV and Samsung 141 00:08:05,840 --> 00:08:09,240 Speaker 1: Smart hubs and the Roku devices. But then Twitter approached 142 00:08:09,320 --> 00:08:11,320 Speaker 1: us and we were able to also partner with them 143 00:08:11,320 --> 00:08:15,520 Speaker 1: and stream the presidential debates. The first one comes around, 144 00:08:15,560 --> 00:08:18,240 Speaker 1: we have two point one million people watching us on Twitter. 145 00:08:18,880 --> 00:08:21,119 Speaker 1: Second one comes around, we have two point four million. 146 00:08:21,120 --> 00:08:23,040 Speaker 1: The third one comes around, we have three point two 147 00:08:23,080 --> 00:08:26,080 Speaker 1: million people who are watching this. So really onto something 148 00:08:26,120 --> 00:08:29,960 Speaker 1: this is very interesting. Following that, we went to Twitter 149 00:08:30,040 --> 00:08:32,800 Speaker 1: and we struck an agreement where we took three non 150 00:08:32,960 --> 00:08:38,000 Speaker 1: endemic shows that we broadcast every day on Bloomberg's Linear TV, 151 00:08:38,240 --> 00:08:41,520 Speaker 1: which is Bloomberg day Break America, our morning show Bloomberg 152 00:08:41,559 --> 00:08:44,160 Speaker 1: Would You Miss which is from with Joey Senthal, who 153 00:08:44,200 --> 00:08:45,719 Speaker 1: joined us about a year and a half ago, two 154 00:08:45,760 --> 00:08:50,160 Speaker 1: years ago from a business insider, and Bloomberg Technology, and 155 00:08:50,679 --> 00:08:54,240 Speaker 1: every day since October, we've been broadcasting these three shows. 156 00:08:54,280 --> 00:08:56,800 Speaker 1: You could just watch them live on Twitter, the same 157 00:08:56,840 --> 00:08:59,040 Speaker 1: type of experience, and we have about a million people 158 00:08:59,080 --> 00:09:01,360 Speaker 1: a day who tune in and watch this. How does 159 00:09:01,400 --> 00:09:05,080 Speaker 1: that rival your linear audience? It's significantly. I mean, it's 160 00:09:05,120 --> 00:09:08,440 Speaker 1: just it's a huge an I know, but I want 161 00:09:08,480 --> 00:09:12,000 Speaker 1: you but but picture this right. So, Bloomberg's Linear TV 162 00:09:12,080 --> 00:09:14,760 Speaker 1: has always been very niche, very specific, very focused on 163 00:09:14,800 --> 00:09:18,000 Speaker 1: the financial core industry, which is why we chose three 164 00:09:18,000 --> 00:09:22,120 Speaker 1: shows that were non core. Right. Based on the success 165 00:09:22,160 --> 00:09:25,000 Speaker 1: of those three shows that we had that's what led 166 00:09:25,040 --> 00:09:27,080 Speaker 1: to the Twitter deal. But if you want to stat 167 00:09:27,120 --> 00:09:28,800 Speaker 1: and this is where I was saying, how you know, 168 00:09:28,840 --> 00:09:30,440 Speaker 1: grandular do you want to get? But this is something 169 00:09:30,480 --> 00:09:32,720 Speaker 1: that I think you would really love. Um, if you 170 00:09:32,720 --> 00:09:34,960 Speaker 1: want a stat that will will blow your mind. When 171 00:09:35,000 --> 00:09:38,560 Speaker 1: the Komby testimony took place, we were the only camera 172 00:09:38,600 --> 00:09:42,400 Speaker 1: in the courtroom that could live stream it over Twitter, right, 173 00:09:42,520 --> 00:09:45,040 Speaker 1: and that was a part of your Twitter exclusivity. Well yeah, 174 00:09:45,040 --> 00:09:47,200 Speaker 1: I mean we just Twitter came to us and they said, 175 00:09:47,200 --> 00:09:49,240 Speaker 1: do you want to live stream this as well? And 176 00:09:49,320 --> 00:09:51,000 Speaker 1: at the last minute we just said yes. We thought 177 00:09:51,000 --> 00:09:53,000 Speaker 1: it made sense. It was also a good proof concept. 178 00:09:53,040 --> 00:09:55,280 Speaker 1: We weren't so much about this and you know, a 179 00:09:55,280 --> 00:09:58,400 Speaker 1: lot of what we're learning with the viewing experience over 180 00:09:58,400 --> 00:10:01,840 Speaker 1: Twitter is very similar to when like I launched and 181 00:10:01,880 --> 00:10:04,679 Speaker 1: worked on the launch with my team on the tablet 182 00:10:04,760 --> 00:10:06,480 Speaker 1: edition a wired back in two thousands and where you 183 00:10:06,480 --> 00:10:09,160 Speaker 1: think you know everything until consumer behavior starts speaking place 184 00:10:09,200 --> 00:10:11,520 Speaker 1: and you start realizing a lot. But we do the 185 00:10:11,600 --> 00:10:16,120 Speaker 1: Komy live stream and two point seven million people watched 186 00:10:16,559 --> 00:10:20,920 Speaker 1: the Komy live stream over Twitter feed through the Boomberg 187 00:10:20,960 --> 00:10:24,760 Speaker 1: feed right. Um, to give you a comparison, nineteen point 188 00:10:24,800 --> 00:10:28,280 Speaker 1: five million people in total watched the Komby testimony on 189 00:10:28,360 --> 00:10:31,760 Speaker 1: cable television, so we had the point one three Nielsen 190 00:10:31,840 --> 00:10:35,439 Speaker 1: rating on Twitter. But to give you an even bigger example, 191 00:10:35,559 --> 00:10:38,320 Speaker 1: during the Komy testimony, not only did two point seven 192 00:10:38,360 --> 00:10:40,960 Speaker 1: million people watch it, three point six million tweets took 193 00:10:40,960 --> 00:10:45,120 Speaker 1: place during that ceremony that during the testimony ceremony was 194 00:10:45,160 --> 00:10:50,360 Speaker 1: not a ceremony. Side of the aisle you're on that, 195 00:10:50,480 --> 00:10:54,040 Speaker 1: we're not talking about it. But but of the two 196 00:10:54,040 --> 00:10:57,840 Speaker 1: point seven million, eight percent were under the age of 197 00:10:57,880 --> 00:11:01,080 Speaker 1: thirty five. If you want to talk about cord cutting 198 00:11:01,120 --> 00:11:03,760 Speaker 1: being a real stat you know, chord shaving being a 199 00:11:03,800 --> 00:11:08,240 Speaker 1: real issue. This is the reality of streaming and video content. 200 00:11:08,400 --> 00:11:10,960 Speaker 1: You know, the word TV is not going to go away, 201 00:11:11,000 --> 00:11:14,319 Speaker 1: but it will evolve. You know, my daughter, your your 202 00:11:14,360 --> 00:11:16,640 Speaker 1: daughter will look at the world and they'll say I 203 00:11:16,640 --> 00:11:18,679 Speaker 1: want to watch TV. But they won't mean I want 204 00:11:18,679 --> 00:11:21,000 Speaker 1: to watch winning or TV. They don't have that relationship 205 00:11:21,040 --> 00:11:23,760 Speaker 1: with now their cable provider. They have the relationship with 206 00:11:23,880 --> 00:11:26,920 Speaker 1: a screen and the viewing experience. That's right. I mean, 207 00:11:27,080 --> 00:11:29,000 Speaker 1: we've said a couple of things. I was talking to 208 00:11:29,040 --> 00:11:31,360 Speaker 1: someone about this yesterday. Actually I was like why can 209 00:11:31,360 --> 00:11:36,040 Speaker 1: Bloomberg do this? Why can They're actually ripe right for 210 00:11:36,080 --> 00:11:39,480 Speaker 1: this type of relationship with Twitter because you don't have 211 00:11:39,559 --> 00:11:44,400 Speaker 1: the same relationships with cable. You don't have the fees 212 00:11:44,640 --> 00:11:47,840 Speaker 1: and the contracts and the right you're not held to 213 00:11:47,920 --> 00:11:53,760 Speaker 1: that old model, which is genius. It is totally open 214 00:11:53,800 --> 00:11:56,199 Speaker 1: if lets you guys play in areas that no one 215 00:11:56,240 --> 00:12:00,160 Speaker 1: probably can play in as quickly. So I mean we 216 00:12:01,679 --> 00:12:04,480 Speaker 1: our goal is is to ultimately be as aggressive as possible, 217 00:12:04,520 --> 00:12:06,160 Speaker 1: to be as innovative as possible, but not just to 218 00:12:06,200 --> 00:12:08,240 Speaker 1: do innovation for innovations sake. I mean, you could just 219 00:12:08,440 --> 00:12:11,160 Speaker 1: constantly say I'm doing new never done before. But at 220 00:12:11,200 --> 00:12:14,199 Speaker 1: the end of the day, for Bloomberg, the goal is 221 00:12:14,200 --> 00:12:16,400 Speaker 1: is not to just do that and be the first. 222 00:12:16,520 --> 00:12:18,400 Speaker 1: The goal has to be that there has to be 223 00:12:18,520 --> 00:12:21,320 Speaker 1: utility to the user. Right, So if you look at 224 00:12:21,360 --> 00:12:23,960 Speaker 1: it like that wasn't the same thing with when I 225 00:12:24,000 --> 00:12:25,840 Speaker 1: was at Wired, And that's not a knock on Wired. 226 00:12:25,920 --> 00:12:29,000 Speaker 1: But the expectation of the consumer audiences is if it's new, 227 00:12:29,080 --> 00:12:31,599 Speaker 1: Wired has to be there, right. If the expectation of 228 00:12:31,600 --> 00:12:34,600 Speaker 1: Bloomberg is if it's new and you're there, it better 229 00:12:34,679 --> 00:12:37,480 Speaker 1: add value to my life. And so the case of Twitter, 230 00:12:37,520 --> 00:12:38,960 Speaker 1: it's very it makes a lot of sense. In the 231 00:12:38,960 --> 00:12:42,600 Speaker 1: case of you know, Amazon Alexa, US giving you know, 232 00:12:42,679 --> 00:12:45,640 Speaker 1: the updated news feed you know is very important. US 233 00:12:45,679 --> 00:12:47,680 Speaker 1: being on the Echo show the day at launch is 234 00:12:47,760 --> 00:12:50,320 Speaker 1: very important. US being on you know, even the eye 235 00:12:50,320 --> 00:12:53,640 Speaker 1: watch like for certain things, and on Samsung smart Watch 236 00:12:53,720 --> 00:12:57,400 Speaker 1: upon launch very important. US playing with VR like we 237 00:12:57,480 --> 00:13:00,360 Speaker 1: do it right. But the reality is is, you know, 238 00:13:00,600 --> 00:13:03,040 Speaker 1: it's such a small niche area in the grand scheme 239 00:13:03,080 --> 00:13:06,240 Speaker 1: of the consumers who adopt it and actually play with it, 240 00:13:06,320 --> 00:13:10,880 Speaker 1: that there's no huge payoff to be in that area now, 241 00:13:11,080 --> 00:13:14,720 Speaker 1: not yet, not yet, but we have talked about that. 242 00:13:15,400 --> 00:13:19,600 Speaker 1: But I would say it's about the year that VR 243 00:13:19,640 --> 00:13:21,760 Speaker 1: actually scales, and at that point I would point out 244 00:13:21,800 --> 00:13:24,160 Speaker 1: that maybe a R is more interesting than VR. So 245 00:13:24,200 --> 00:13:26,800 Speaker 1: let's talk to us about studio, Like, talk to us 246 00:13:26,800 --> 00:13:29,600 Speaker 1: about what do you do? What is Bloomberg? You know, 247 00:13:30,000 --> 00:13:32,760 Speaker 1: do you have an ad innovation lab? Are you doing 248 00:13:32,800 --> 00:13:35,120 Speaker 1: anything like not that you need it, right, but like, 249 00:13:35,320 --> 00:13:38,240 Speaker 1: do you have something where you're actually looking at how 250 00:13:38,280 --> 00:13:41,319 Speaker 1: are we going to change the experience, you know, whether 251 00:13:41,360 --> 00:13:47,160 Speaker 1: it's incrementally or not for these new types of screening devices. 252 00:13:47,200 --> 00:13:49,920 Speaker 1: And experiences and as it add content because we've talked 253 00:13:50,040 --> 00:13:52,000 Speaker 1: quite a bit back and forth the election and I 254 00:13:52,200 --> 00:13:55,320 Speaker 1: in meetings with you you know about is content really 255 00:13:55,400 --> 00:13:57,720 Speaker 1: the first thing that Bloomberg should be monetizing, where like 256 00:13:57,800 --> 00:14:00,000 Speaker 1: we've always been interested in the intelligence angle and say 257 00:14:00,200 --> 00:14:02,200 Speaker 1: we've like shook you right, like you can't get this 258 00:14:02,240 --> 00:14:05,360 Speaker 1: ship anywhere? Like this is amazing? Is this like an 259 00:14:05,840 --> 00:14:15,000 Speaker 1: like R rated podcast? Wells you concurse right now? Um? 260 00:14:15,480 --> 00:14:17,840 Speaker 1: So to answer your question, I would say, um, a 261 00:14:17,880 --> 00:14:19,960 Speaker 1: few things, So can I step back for one second 262 00:14:20,120 --> 00:14:22,640 Speaker 1: on it? Which is um? I think that it's very 263 00:14:22,640 --> 00:14:25,400 Speaker 1: easy for people to speak in definitives, right, so people 264 00:14:25,400 --> 00:14:28,760 Speaker 1: will say things like people hate advertising, and I think 265 00:14:28,840 --> 00:14:30,800 Speaker 1: that's bullshit. You just sent me the book End of 266 00:14:30,840 --> 00:14:34,560 Speaker 1: Advertising by Andrew Essex, but the whole premise of the 267 00:14:34,640 --> 00:14:36,760 Speaker 1: End of Advertising by Andrew Essex, which I thought was 268 00:14:36,800 --> 00:14:38,760 Speaker 1: a very fun We're going to have him on the show, hopefully, 269 00:14:38,760 --> 00:14:41,800 Speaker 1: Andrew you're coming on the show. He knows I bought 270 00:14:41,800 --> 00:14:43,680 Speaker 1: three hundred copies of the book. I think I'm his 271 00:14:43,800 --> 00:14:48,160 Speaker 1: number one purchaser probably. I've been seeing Keith Grossman pop 272 00:14:48,280 --> 00:14:52,360 Speaker 1: ups on other people's channels now have notes from kind 273 00:14:52,360 --> 00:14:55,480 Speaker 1: of treating Everybody's hilarious on LinkedIn, and then I was like, 274 00:14:55,520 --> 00:14:58,120 Speaker 1: where's my book? I got kind of like jealous. I 275 00:14:59,080 --> 00:15:00,960 Speaker 1: got a note from your person that I was sending 276 00:15:00,960 --> 00:15:07,000 Speaker 1: it to the wrong address. I didn't, Yeah, anyway, I did. 277 00:15:07,000 --> 00:15:08,880 Speaker 1: I got jealous when I saw this guy's note, and 278 00:15:08,880 --> 00:15:10,800 Speaker 1: I was like, where's my note? The next day I 279 00:15:10,840 --> 00:15:15,000 Speaker 1: got my time make sure. I just want to know 280 00:15:15,040 --> 00:15:17,680 Speaker 1: who's writing those notes? Is that you know? No way 281 00:15:18,080 --> 00:15:23,440 Speaker 1: my hand, um no, but here you know, like I 282 00:15:23,440 --> 00:15:26,000 Speaker 1: think people want to say that that that advertising dad, 283 00:15:26,080 --> 00:15:29,280 Speaker 1: or this is awful, it's bad advertising. Nobody wants bad advertising. 284 00:15:29,320 --> 00:15:33,560 Speaker 1: Nobody wants it to be intrusive or offensive. And like 285 00:15:33,600 --> 00:15:36,400 Speaker 1: the whole point of his book is when all you're 286 00:15:36,440 --> 00:15:39,480 Speaker 1: doing is creating to create, and you're not actually thinking 287 00:15:39,480 --> 00:15:42,320 Speaker 1: about what the experience is, then all of a sudden, 288 00:15:42,360 --> 00:15:44,800 Speaker 1: you're missing the bigger point. And when you're trying to 289 00:15:44,880 --> 00:15:48,680 Speaker 1: force feed like or force fit something into the wrong 290 00:15:48,720 --> 00:15:51,480 Speaker 1: canvas or the wrong experience or the wrong expectation, it's 291 00:15:51,800 --> 00:15:53,360 Speaker 1: a big miss. But if you look at one of 292 00:15:53,400 --> 00:15:56,520 Speaker 1: the most amazing elements of advertising, and the two examples 293 00:15:56,520 --> 00:15:57,800 Speaker 1: that he gives in the book and now you might 294 00:15:57,800 --> 00:16:01,960 Speaker 1: not even need addressings on this shop. You're his wrap. 295 00:16:02,080 --> 00:16:04,200 Speaker 1: I am pretty much you know his pr on this. 296 00:16:04,240 --> 00:16:05,800 Speaker 1: But if you if you look at the premise and 297 00:16:05,840 --> 00:16:08,520 Speaker 1: he gives two really good examples which were, um, you 298 00:16:08,560 --> 00:16:12,560 Speaker 1: know City Bike, which did a tremendous amount for you know, 299 00:16:12,640 --> 00:16:15,800 Speaker 1: the City brand in terms of um lifting it up 300 00:16:15,880 --> 00:16:20,520 Speaker 1: from where it was from two thousand and none today Right, Um, 301 00:16:20,520 --> 00:16:23,720 Speaker 1: it adds a tremendous amount of utility. Uh, there's no 302 00:16:23,760 --> 00:16:26,080 Speaker 1: doubt in my mind that that it is paid off 303 00:16:26,120 --> 00:16:28,280 Speaker 1: on it's r O Y regardless of what the metric 304 00:16:28,360 --> 00:16:30,200 Speaker 1: is worth, and that it's worth every penny of what 305 00:16:30,240 --> 00:16:32,160 Speaker 1: that investment was. And then take something on the flip 306 00:16:32,160 --> 00:16:35,240 Speaker 1: side of it, like the Lego movie, which I think 307 00:16:35,280 --> 00:16:37,640 Speaker 1: costs something like forty million dollars and it paid off 308 00:16:37,640 --> 00:16:40,920 Speaker 1: four hundred million dollars in box office sales. I'm curious 309 00:16:41,000 --> 00:16:44,920 Speaker 1: to know our brands coming to still looking for what 310 00:16:44,960 --> 00:16:48,160 Speaker 1: I'll call the stereotypical business decision maker and asking for 311 00:16:48,280 --> 00:16:53,840 Speaker 1: very monotonous things that can deliver B two B marketing strategy. 312 00:16:54,080 --> 00:16:58,000 Speaker 1: Or are you finding that new brands or presumably you know, 313 00:16:58,120 --> 00:17:01,080 Speaker 1: repeat brands are coming in now starting to diversify that 314 00:17:01,200 --> 00:17:03,640 Speaker 1: ask and expecting you to help them kind of paint 315 00:17:03,680 --> 00:17:06,840 Speaker 1: this picture of what the next gen business consumer looks like. 316 00:17:07,080 --> 00:17:09,720 Speaker 1: It's not neither or, but here's like a really interesting 317 00:17:09,840 --> 00:17:12,080 Speaker 1: stat And you know, obviously as a private company, we 318 00:17:12,119 --> 00:17:14,480 Speaker 1: don't go into, you know, a lot of our financials, 319 00:17:14,480 --> 00:17:16,720 Speaker 1: but I'll give you just sort of a glimpse um 320 00:17:16,760 --> 00:17:21,000 Speaker 1: when you look at the partnerships of ours that partner 321 00:17:21,040 --> 00:17:23,280 Speaker 1: with us on one or two platforms, we have a 322 00:17:23,320 --> 00:17:27,439 Speaker 1: normalized attrition rate, let's say sevent. When you find a 323 00:17:27,480 --> 00:17:29,719 Speaker 1: partner who looks at how can we engage across your 324 00:17:29,760 --> 00:17:32,920 Speaker 1: platform and talk to your consumers across three platforms, that 325 00:17:33,000 --> 00:17:38,520 Speaker 1: attrition rate actually goes down from you know, and four 326 00:17:38,560 --> 00:17:41,320 Speaker 1: platforms it goes down even more. Five platforms it becomes 327 00:17:41,320 --> 00:17:44,400 Speaker 1: non existent. We almost find that we are, you know, 328 00:17:44,680 --> 00:17:50,360 Speaker 1: having conversations with these partners that are completely um more 329 00:17:50,400 --> 00:17:52,840 Speaker 1: about the idea and how to bring the idea to 330 00:17:52,880 --> 00:17:55,800 Speaker 1: life than just as it's going to run and where 331 00:17:55,800 --> 00:17:59,080 Speaker 1: it's going to go. So we are most successful partnerships 332 00:17:59,080 --> 00:18:01,760 Speaker 1: are at that higher end of the spectrum where people 333 00:18:01,800 --> 00:18:03,840 Speaker 1: say idea first, and how can you bring it to life? 334 00:18:03,920 --> 00:18:06,760 Speaker 1: Or what's the strategy or at the programmatic end of 335 00:18:06,800 --> 00:18:10,440 Speaker 1: the spectrum, which is growing, you know, triple digit percentages 336 00:18:10,640 --> 00:18:12,800 Speaker 1: off of glow comps, but it will be a significant 337 00:18:12,800 --> 00:18:16,520 Speaker 1: eight figure revenue stream this year um up from essentially 338 00:18:16,600 --> 00:18:20,840 Speaker 1: zero back in the end of And so the area 339 00:18:20,880 --> 00:18:24,480 Speaker 1: that we're really losing out on or we're seeing disappear 340 00:18:24,680 --> 00:18:28,359 Speaker 1: are these here's an RFP, just respond and you know, 341 00:18:28,400 --> 00:18:31,160 Speaker 1: give us placement where we could just run some ads. Yeah, 342 00:18:31,200 --> 00:18:34,560 Speaker 1: I feel like that's well, I think that's become pretty 343 00:18:34,640 --> 00:18:39,360 Speaker 1: in vogue, not to URFP now right, Like generally it's 344 00:18:39,400 --> 00:18:41,520 Speaker 1: even if it's on rf it's sort of even the 345 00:18:41,640 --> 00:18:44,040 Speaker 1: like I have, like a few hundred thousand dollars, can 346 00:18:44,080 --> 00:18:47,720 Speaker 1: you just run this on XEX, Like it's just not 347 00:18:47,840 --> 00:18:50,400 Speaker 1: happening as much. Yeah, And I just think that it's 348 00:18:50,520 --> 00:18:53,119 Speaker 1: it's an interesting time where, you know, what you just 349 00:18:53,160 --> 00:18:56,000 Speaker 1: talked about our polar opposite sides of the spectrum, and 350 00:18:56,040 --> 00:18:58,560 Speaker 1: so this idea of like what exists in the middle 351 00:18:59,080 --> 00:19:04,640 Speaker 1: represents a really interesting paradigm shift for this industry. It's 352 00:19:04,720 --> 00:19:07,320 Speaker 1: like you've got one end of the continuum that is 353 00:19:07,480 --> 00:19:11,280 Speaker 1: pushing innovation and ideation and really strong strategic it seems 354 00:19:11,320 --> 00:19:14,439 Speaker 1: like for you going deep vertically and really getting the 355 00:19:14,480 --> 00:19:17,360 Speaker 1: best experience. Were spreading yourself than horizontally is the way 356 00:19:17,400 --> 00:19:19,080 Speaker 1: the best use your platform. And then you've got the 357 00:19:19,080 --> 00:19:22,560 Speaker 1: other guys that are after this really lucrative audience of 358 00:19:23,080 --> 00:19:25,720 Speaker 1: business decision makers, investors, and what happened. I mean, the 359 00:19:25,760 --> 00:19:28,160 Speaker 1: one thing to remember with programmatic is it's it's gonna 360 00:19:28,280 --> 00:19:31,199 Speaker 1: want to go in there. My definition of programmatic is 361 00:19:31,560 --> 00:19:34,520 Speaker 1: this belief that anything that can be digitized will ultimately 362 00:19:34,520 --> 00:19:37,280 Speaker 1: be digitized, and if it is digitized, will be bought 363 00:19:37,280 --> 00:19:41,320 Speaker 1: and sold by computer. Okay, that's it, agreed. We agree. 364 00:19:41,800 --> 00:19:45,960 Speaker 1: We made every mistake possible when we first started our 365 00:19:46,000 --> 00:19:49,840 Speaker 1: programmatic approach back in and I fought myself for that. 366 00:19:49,880 --> 00:19:53,320 Speaker 1: You know, I came on board and thought it was 367 00:19:53,760 --> 00:19:56,040 Speaker 1: and I will gladly you know, I learned more through 368 00:19:56,119 --> 00:20:00,800 Speaker 1: my mistakes than than any other area, you know, in 369 00:20:00,840 --> 00:20:03,240 Speaker 1: the past few years, in the programmatic area, where in 370 00:20:03,400 --> 00:20:06,840 Speaker 1: year one, uh, you know, we made the wrong partnerships 371 00:20:06,920 --> 00:20:09,480 Speaker 1: and we we had the wrong perception of programmatic. We 372 00:20:09,600 --> 00:20:11,720 Speaker 1: the wrong perception is to go to market strategy. And 373 00:20:11,760 --> 00:20:14,440 Speaker 1: I need to give Google credit and they don't get 374 00:20:14,480 --> 00:20:17,320 Speaker 1: a lot of credit, a lot where people are complimenting 375 00:20:17,359 --> 00:20:19,600 Speaker 1: them to the level that they deserve, Like their Google 376 00:20:19,600 --> 00:20:21,760 Speaker 1: Adds team and the people that we work with over 377 00:20:21,800 --> 00:20:24,840 Speaker 1: there have been absolutely phenomenal and sort of helping us 378 00:20:24,880 --> 00:20:27,160 Speaker 1: course correct and look at how we should be building 379 00:20:27,160 --> 00:20:29,800 Speaker 1: our stack properly and how we should be thinking about, 380 00:20:29,920 --> 00:20:31,480 Speaker 1: you know, go to market. And one of the things 381 00:20:31,520 --> 00:20:33,200 Speaker 1: that we did with them, and it was an eye 382 00:20:33,240 --> 00:20:37,359 Speaker 1: opening test, was on a random day, we opened up 383 00:20:37,359 --> 00:20:40,080 Speaker 1: our inventory and we sold it at one dollar on 384 00:20:40,119 --> 00:20:42,399 Speaker 1: the open exchange. And then a week later, on the 385 00:20:42,440 --> 00:20:45,479 Speaker 1: exact same day, you know, and with like no major 386 00:20:45,600 --> 00:20:49,639 Speaker 1: sort of variances, we opened up the exact same inventory 387 00:20:49,640 --> 00:20:51,879 Speaker 1: and we sold it a hundred dollar CPM, and the 388 00:20:51,920 --> 00:20:54,600 Speaker 1: exact same advertisers bought it at a hundred dollars. They 389 00:20:54,640 --> 00:20:56,440 Speaker 1: bought it at one dollar. And it was just an 390 00:20:56,440 --> 00:20:58,879 Speaker 1: eye opening moment for us where it showed that like 391 00:20:59,400 --> 00:21:01,919 Speaker 1: a lot of time, people think that that you have 392 00:21:02,000 --> 00:21:04,360 Speaker 1: to just give away the inventory at one dollar, and 393 00:21:04,480 --> 00:21:08,199 Speaker 1: if you have premium inventory, um, you know, there's a 394 00:21:08,280 --> 00:21:10,640 Speaker 1: lot that you should be thinking about more than just 395 00:21:10,840 --> 00:21:13,159 Speaker 1: how do I move it. In our last episode, we 396 00:21:13,280 --> 00:21:15,800 Speaker 1: just talked about the idea that like if that's the 397 00:21:15,840 --> 00:21:18,480 Speaker 1: inventory we have to use right now. And that's as 398 00:21:18,520 --> 00:21:22,360 Speaker 1: far as programmatic has advanced. Why aren't we taking measures 399 00:21:22,359 --> 00:21:24,719 Speaker 1: and steps to at least be innovative within that creative 400 00:21:24,760 --> 00:21:27,560 Speaker 1: space exactly so that we can change that outcome so 401 00:21:27,600 --> 00:21:29,640 Speaker 1: that you can wake up that Tuesday. We can all 402 00:21:29,680 --> 00:21:34,560 Speaker 1: wake up on that glorious Tuesday, and there's no I 403 00:21:34,600 --> 00:21:37,359 Speaker 1: love this Tuesday, think and this last forever, there's a 404 00:21:37,359 --> 00:21:40,280 Speaker 1: giving Tuesday. We should make our own average. So we 405 00:21:40,320 --> 00:21:42,800 Speaker 1: have a little game that we play. We're gonna we're 406 00:21:42,800 --> 00:21:45,680 Speaker 1: going to We're gonna play it with you. We're gonna 407 00:21:45,680 --> 00:21:48,080 Speaker 1: play with you. This is a Keith that I rarely see. 408 00:21:48,160 --> 00:21:51,879 Speaker 1: It's like very well, you're always composed, but it's like 409 00:21:51,920 --> 00:21:56,000 Speaker 1: this very kind of like placid you. When we're in meetings, 410 00:21:56,040 --> 00:22:00,320 Speaker 1: You're like, he's not he's not selling right now. This 411 00:22:00,359 --> 00:22:06,280 Speaker 1: is a conversation. Wink wink um. Alright, so kill by 412 00:22:06,640 --> 00:22:09,880 Speaker 1: d I Y. This is a very special game, Keith Grossman, 413 00:22:09,960 --> 00:22:13,200 Speaker 1: Are you willing to take the plunge? The plunge? Ok So, 414 00:22:13,320 --> 00:22:15,639 Speaker 1: what what would you kill? What would you kill in 415 00:22:15,640 --> 00:22:18,560 Speaker 1: this industry? What would you buy? And what would you 416 00:22:18,640 --> 00:22:25,200 Speaker 1: do it yourself? Okay? Can you give me an example. Yeah, 417 00:22:25,320 --> 00:22:27,880 Speaker 1: so some people say I would kill Netflix, I would 418 00:22:27,920 --> 00:22:34,400 Speaker 1: buy Amazon, and I would d I y do Twitter yourself? Yeah, 419 00:22:34,960 --> 00:22:38,119 Speaker 1: and would that means start a fresh and yeah, you 420 00:22:38,119 --> 00:22:41,359 Speaker 1: can do it better. You can do it better. Okay, So, um, 421 00:22:41,400 --> 00:22:48,560 Speaker 1: if I could kill anything, it would be uh, traditional spots, 422 00:22:49,280 --> 00:22:54,960 Speaker 1: TV spots like TV spots seconds and fifties and traditional 423 00:22:55,680 --> 00:23:00,320 Speaker 1: real estate. Yes, inventory, I hate you know what I hate? 424 00:23:00,760 --> 00:23:05,280 Speaker 1: I hate. No, I would never you know, it was 425 00:23:05,320 --> 00:23:07,360 Speaker 1: just like one thing I hate. And we've we've talked 426 00:23:07,400 --> 00:23:10,240 Speaker 1: about this. Laura had a great rant one day about 427 00:23:10,440 --> 00:23:15,320 Speaker 1: um the pre roll add and like Joe Marks, Fox 428 00:23:15,440 --> 00:23:17,240 Speaker 1: just came out saying that they're going to do six 429 00:23:17,400 --> 00:23:21,040 Speaker 1: six second ads. I think, um with YouTube like shorter formats, 430 00:23:21,040 --> 00:23:23,320 Speaker 1: but I have this huge issue every time I year 431 00:23:23,400 --> 00:23:26,080 Speaker 1: thirty seconds, it's just but it's not the length of 432 00:23:26,200 --> 00:23:29,520 Speaker 1: time either. I had a standard ad format. It's like 433 00:23:29,880 --> 00:23:32,320 Speaker 1: to your point, going back to daddy, will you read 434 00:23:32,320 --> 00:23:36,080 Speaker 1: me branded content? It's like, give me something that's good 435 00:23:36,520 --> 00:23:40,960 Speaker 1: and I'll watch it for thirty three seconds, for eleven 436 00:23:41,080 --> 00:23:44,280 Speaker 1: seconds for and I just so I just want I 437 00:23:44,440 --> 00:23:46,600 Speaker 1: want that look at the guy go at the two 438 00:23:46,680 --> 00:23:49,280 Speaker 1: second dad that like does everything in two seconds and 439 00:23:49,280 --> 00:23:52,880 Speaker 1: then it pauses and then like everything continues on against 440 00:23:52,880 --> 00:23:56,760 Speaker 1: the pause screen except for one variable like dog. And 441 00:23:56,800 --> 00:23:58,919 Speaker 1: he was like, you watch it forever and if you 442 00:23:59,000 --> 00:24:00,760 Speaker 1: you know, like a great ample of like one of 443 00:24:00,800 --> 00:24:05,159 Speaker 1: my favorite ads that that I watched close So sorry, 444 00:24:05,240 --> 00:24:11,399 Speaker 1: I'm like sitting back in the room, but no, but um, 445 00:24:11,440 --> 00:24:14,160 Speaker 1: you know, my one of my favorite recent ads that 446 00:24:14,200 --> 00:24:18,800 Speaker 1: I've that I've seen is um the Nike Race to 447 00:24:19,040 --> 00:24:23,000 Speaker 1: break two hours great marathons. I mean, first off, talked 448 00:24:23,000 --> 00:24:28,600 Speaker 1: about an amazing ad I watched, I rooted, tweeted, I 449 00:24:29,040 --> 00:24:31,040 Speaker 1: you know what was that an ad? Because in my 450 00:24:31,080 --> 00:24:35,359 Speaker 1: opinion that like it delivered on the brand. It was entertainment. 451 00:24:35,480 --> 00:24:37,000 Speaker 1: It was, but it was still in an AD format 452 00:24:37,040 --> 00:24:39,560 Speaker 1: and it was still in like what two minutes. Like 453 00:24:39,600 --> 00:24:41,879 Speaker 1: when it launched, it was like a ninety second spot 454 00:24:41,960 --> 00:24:44,800 Speaker 1: or something. All the supporting content for it, they had 455 00:24:44,920 --> 00:24:46,879 Speaker 1: much longer form stuff. If I wanted to get it, 456 00:24:46,920 --> 00:24:49,320 Speaker 1: I watched and I continued to engage with it. I mean, 457 00:24:50,320 --> 00:24:53,919 Speaker 1: I don't know if like I think that that's just 458 00:24:53,920 --> 00:24:57,720 Speaker 1: just great content. If people are only watching three seconds 459 00:24:57,760 --> 00:25:01,800 Speaker 1: of video on Facebook, could we start selling second increments? 460 00:25:02,680 --> 00:25:05,399 Speaker 1: Like if I wanted to interesting if you wanted to 461 00:25:05,480 --> 00:25:09,520 Speaker 1: do an eleven second add if you wanted to do 462 00:25:09,680 --> 00:25:12,120 Speaker 1: a fourteen second ad I wanted to do. A big 463 00:25:12,160 --> 00:25:15,000 Speaker 1: issue with time is not that that it's a bad metric. 464 00:25:15,040 --> 00:25:17,320 Speaker 1: I actually think it's not a bad metric. The problem 465 00:25:17,400 --> 00:25:20,040 Speaker 1: is is that there's no standardization to understand if time 466 00:25:20,119 --> 00:25:22,639 Speaker 1: is good or not good. Right, So if you take time, 467 00:25:22,680 --> 00:25:26,320 Speaker 1: by the way, is the best equalizer of any sort 468 00:25:26,359 --> 00:25:29,320 Speaker 1: of the whole industry, Like it's the only commodity that 469 00:25:29,520 --> 00:25:32,760 Speaker 1: every single person has the exact same amount of. It's 470 00:25:32,800 --> 00:25:35,719 Speaker 1: the only commodity that you can't hoard, right, so like 471 00:25:35,840 --> 00:25:39,080 Speaker 1: you have to actually give it away every day, and 472 00:25:39,200 --> 00:25:44,280 Speaker 1: it's the only commodity that's being completely challenged, and and 473 00:25:44,400 --> 00:25:48,280 Speaker 1: but then here's the issue, right, without a standardization of time, 474 00:25:48,440 --> 00:25:52,000 Speaker 1: if I said to you, um, the average time on 475 00:25:52,080 --> 00:25:55,040 Speaker 1: my site reading an article was five minutes, you would 476 00:25:55,080 --> 00:25:58,359 Speaker 1: say that's a really good engagement. But what if I 477 00:25:58,400 --> 00:26:01,399 Speaker 1: then told you that the only article that I was 478 00:26:01,440 --> 00:26:05,000 Speaker 1: referencing off was like a picture of a gerbil like 479 00:26:05,000 --> 00:26:08,840 Speaker 1: like fifty words like, then then you actually have someone 480 00:26:08,840 --> 00:26:12,159 Speaker 1: who's a really slow reader. Um, Whereas you know, like 481 00:26:12,280 --> 00:26:14,880 Speaker 1: you have to actually start to understand like how time 482 00:26:15,000 --> 00:26:18,960 Speaker 1: should be measured and standardized against content that inspires you 483 00:26:19,240 --> 00:26:21,840 Speaker 1: or informs you or entertains you, which is all going 484 00:26:21,880 --> 00:26:25,480 Speaker 1: to be completely different. Once they solve that standardization of time, 485 00:26:25,840 --> 00:26:29,080 Speaker 1: then it becomes a really impressive and valuable commodity. But 486 00:26:29,200 --> 00:26:32,680 Speaker 1: until then, like there's no really great way in which 487 00:26:32,920 --> 00:26:35,960 Speaker 1: you could say that all time can be equal or 488 00:26:36,119 --> 00:26:40,359 Speaker 1: like three seconds on one side is guys, I have 489 00:26:40,440 --> 00:26:44,600 Speaker 1: a whole new perspective on that. Can I say something 490 00:26:46,160 --> 00:26:49,160 Speaker 1: when he said, Keith, when you said they haven't solved 491 00:26:49,200 --> 00:26:52,679 Speaker 1: it yet, guess who the they is? I know as 492 00:26:52,680 --> 00:26:55,760 Speaker 1: an industry. So I have a thought. I have my 493 00:26:55,840 --> 00:27:07,440 Speaker 1: heart racing. Okay, that's what happens because my only but 494 00:27:11,200 --> 00:27:14,959 Speaker 1: so I had a meeting recently with Vice, and I 495 00:27:15,000 --> 00:27:17,840 Speaker 1: actually think that Viceland is doing this better than anybody, 496 00:27:17,880 --> 00:27:21,800 Speaker 1: and they present they have And I am not a 497 00:27:22,000 --> 00:27:26,880 Speaker 1: rabid consumer of the platform. Um. I sometimes scan what's 498 00:27:26,880 --> 00:27:29,320 Speaker 1: happening on Viceland. If I catch something interesting, I'll tune in. 499 00:27:29,359 --> 00:27:31,520 Speaker 1: I'm also not a I am a cord cutter. I'm 500 00:27:31,560 --> 00:27:33,280 Speaker 1: not somebody who sets in front of my TV. I'm 501 00:27:33,640 --> 00:27:36,120 Speaker 1: lucky I get five seconds ago the bathroom these days. 502 00:27:36,119 --> 00:27:39,720 Speaker 1: But I think what's interesting about what Viceland UM says 503 00:27:39,840 --> 00:27:42,960 Speaker 1: in their presentations, which I actually think is something they 504 00:27:43,000 --> 00:27:46,040 Speaker 1: need to bring to the forefront and exploit. They use 505 00:27:46,119 --> 00:27:50,119 Speaker 1: this term that they are or they believe that they 506 00:27:50,119 --> 00:27:54,800 Speaker 1: are the stickiest network when it comes to use of 507 00:27:54,840 --> 00:27:57,480 Speaker 1: what they call interstitials, which is what the industry would 508 00:27:57,480 --> 00:28:00,360 Speaker 1: call commercial time. And they don't get of a ship 509 00:28:00,520 --> 00:28:03,800 Speaker 1: if it's programming in five minutes or it's programming in 510 00:28:03,840 --> 00:28:07,359 Speaker 1: five seconds. They seek to make whatever that time is. 511 00:28:07,400 --> 00:28:12,640 Speaker 1: They need to fill in content as educational, aspirational, informational, 512 00:28:13,160 --> 00:28:17,199 Speaker 1: whatever it is. But it's fucking entertaining and it is 513 00:28:17,240 --> 00:28:20,320 Speaker 1: not meant to hawk a brand. It's meant to provide 514 00:28:20,520 --> 00:28:23,439 Speaker 1: some sort of value exchange within whatever that length of 515 00:28:23,480 --> 00:28:25,080 Speaker 1: time is, and they seek to fill it with the 516 00:28:25,119 --> 00:28:29,199 Speaker 1: most important content for whatever that point. And so I think, like, 517 00:28:29,280 --> 00:28:31,120 Speaker 1: you know, you said, what is Joe Mark Casey's coming 518 00:28:31,119 --> 00:28:33,560 Speaker 1: out with six second ads on Fox? And you've got 519 00:28:33,560 --> 00:28:36,359 Speaker 1: Turner pushing two minute pods and less of them. But 520 00:28:36,840 --> 00:28:41,520 Speaker 1: in reality, are we just perpetuating bad behavior and trying 521 00:28:41,520 --> 00:28:44,120 Speaker 1: to use time as a way to you know, solve 522 00:28:44,200 --> 00:28:48,320 Speaker 1: I agree that I don't the content has the content 523 00:28:48,400 --> 00:28:50,600 Speaker 1: has to be I actually don't think times the issue. 524 00:28:50,640 --> 00:28:53,760 Speaker 1: I think it's it's the content. It is the content, 525 00:28:53,840 --> 00:28:56,680 Speaker 1: But the time thing is like part of the equation. Right, 526 00:28:56,720 --> 00:28:59,800 Speaker 1: And as someone said this to me, um her name 527 00:29:00,120 --> 00:29:04,160 Speaker 1: is um Addie and I can't remember her last name 528 00:29:04,240 --> 00:29:06,880 Speaker 1: right now, but from decoded, and she said something the 529 00:29:06,920 --> 00:29:08,480 Speaker 1: other day and she was like, listen, at the end 530 00:29:08,520 --> 00:29:12,640 Speaker 1: of the day, we have a huge time issue, right. 531 00:29:12,760 --> 00:29:15,880 Speaker 1: You have more and more content flooding and less and 532 00:29:15,960 --> 00:29:17,360 Speaker 1: less time to look at it. So you have a 533 00:29:17,400 --> 00:29:19,760 Speaker 1: time and space issue that's occurring. And so I do 534 00:29:19,880 --> 00:29:25,880 Speaker 1: think that that's important. But you're talking about quality. Yeah, 535 00:29:26,520 --> 00:29:29,240 Speaker 1: whatever camp of quality. If you put something compelling, I 536 00:29:29,240 --> 00:29:31,280 Speaker 1: don't care if it's twenty minutes or twenty seconds. If 537 00:29:31,280 --> 00:29:33,280 Speaker 1: it's great content, I'm going to watch it. That's totally right. 538 00:29:33,520 --> 00:29:36,280 Speaker 1: I agree with you. But anyway, this is your game. Yeah, 539 00:29:36,280 --> 00:29:37,960 Speaker 1: this is your game. Sorry, so you get you were 540 00:29:38,080 --> 00:29:45,960 Speaker 1: killing I was sorry. I'm sorry, sorry you're killing killing. Standardization? Um, 541 00:29:46,000 --> 00:29:48,320 Speaker 1: if I get so by is defined as as it 542 00:29:48,400 --> 00:29:53,600 Speaker 1: is today, go out acquire like this needs to be 543 00:29:53,800 --> 00:29:59,440 Speaker 1: a part of what I'm doing. Whatever whatever it might say. 544 00:29:59,440 --> 00:30:02,520 Speaker 1: You want to buy Nathan sot dog. I mean, like 545 00:30:02,680 --> 00:30:09,760 Speaker 1: stand not one not one dog. I would I I would, 546 00:30:09,760 --> 00:30:12,560 Speaker 1: I would buy Amazon, Like I think that the infestion 547 00:30:12,600 --> 00:30:15,000 Speaker 1: ho You've got a lot of money, listen. I think 548 00:30:15,040 --> 00:30:18,040 Speaker 1: I think that what they're doing is so interesting. I 549 00:30:18,040 --> 00:30:22,440 Speaker 1: think that they're laying a ecosystem on top of you know, 550 00:30:22,560 --> 00:30:25,400 Speaker 1: platforms that that can engage with the consumer, and that 551 00:30:25,720 --> 00:30:28,360 Speaker 1: at the end of the day, like the Alexa, you know, 552 00:30:28,360 --> 00:30:30,720 Speaker 1: it's just another touch point, the Echo show just another 553 00:30:30,760 --> 00:30:33,960 Speaker 1: touch point, their homepage, their mobile experience, just another touch point, 554 00:30:34,000 --> 00:30:37,560 Speaker 1: and they can provide services at a level that I 555 00:30:37,560 --> 00:30:41,640 Speaker 1: think is just so endlessly fascinating. Um my, my, do 556 00:30:41,760 --> 00:30:44,360 Speaker 1: it better would be by It would be like a 557 00:30:44,480 --> 00:30:47,680 Speaker 1: third party measurement in Facebook or Google. Yes, I love 558 00:30:47,720 --> 00:30:51,560 Speaker 1: it well and then never disappoints. Well, thank you so 559 00:30:51,640 --> 00:30:53,320 Speaker 1: much for having me on this. And if people want 560 00:30:53,320 --> 00:30:55,560 Speaker 1: to get in touch with you, where can we find you? 561 00:30:56,320 --> 00:30:59,840 Speaker 1: K Grossman ten at Bloomberg dot net to really ten 562 00:31:00,000 --> 00:31:02,960 Speaker 1: of you know, I listened Bloomberg goes by like a 563 00:31:03,080 --> 00:31:05,200 Speaker 1: weird numbers and but I'll tell you this is that 564 00:31:05,320 --> 00:31:09,720 Speaker 1: you know, like, as you know, my best athleticism is emailing. 565 00:31:10,640 --> 00:31:12,640 Speaker 1: And I were number time when I played soccer, so 566 00:31:12,760 --> 00:31:16,680 Speaker 1: I knew I liked you. Dot net not dot com anyway, 567 00:31:16,720 --> 00:31:18,600 Speaker 1: thank you for coming out, coming on. We wish you 568 00:31:18,680 --> 00:31:21,400 Speaker 1: much success. We were excited to see the launch of 569 00:31:21,440 --> 00:31:24,640 Speaker 1: Bloomberg seven. What is the name of the show or 570 00:31:24,720 --> 00:31:26,840 Speaker 1: the network? And network is to be named? Let's not 571 00:31:26,880 --> 00:31:30,160 Speaker 1: make it Bloomberg verified. Well, I think that ship is sailed. 572 00:31:30,680 --> 00:31:33,040 Speaker 1: Just kidding any more? Do you get to end on 573 00:31:33,080 --> 00:31:35,560 Speaker 1: such a meeting? We can come because I like you, 574 00:31:36,760 --> 00:31:38,640 Speaker 1: I don't know, I want you to. I want I 575 00:31:38,680 --> 00:31:41,440 Speaker 1: want the world to see the Alexa I know exactly 576 00:31:44,000 --> 00:31:47,600 Speaker 1: love it. Thanks for coming. We're always rasing you. It's 577 00:31:47,640 --> 00:31:49,640 Speaker 1: totally fun. You know. I'm very sensitive. I'm gonna go 578 00:31:49,600 --> 00:31:52,600 Speaker 1: home and cry. Keith gross and c r O Bloomberg everyone, 579 00:31:52,720 --> 00:32:02,440 Speaker 1: Thank you, thank you. So that's it, Dirty dozen, squeaky clean. 580 00:32:02,520 --> 00:32:07,360 Speaker 1: Keith Grossman, thank you for listening to Atlantia. Keith, thanks 581 00:32:07,400 --> 00:32:10,120 Speaker 1: for being on. We have a few more thanks. Cameron 582 00:32:10,160 --> 00:32:13,239 Speaker 1: Drew's our producer, what of Cameron Drews. Matt Turk our 583 00:32:13,320 --> 00:32:15,520 Speaker 1: other executive brewer who, By the way, Matt, where the 584 00:32:15,560 --> 00:32:17,800 Speaker 1: hell are you? I don't know? I just emailed me. 585 00:32:17,880 --> 00:32:19,360 Speaker 1: When are you coming to New York. I want that 586 00:32:19,880 --> 00:32:22,800 Speaker 1: Sun Valley. Yeah, riding sources. We'll be waiting for you 587 00:32:22,840 --> 00:32:25,560 Speaker 1: here in Brooklyn with Andy Bowers. Andy Bowers, who we love, 588 00:32:25,680 --> 00:32:28,160 Speaker 1: Jacob Weisberg, who's just always a gem we see around 589 00:32:28,200 --> 00:32:30,640 Speaker 1: the office. Thank you for all of your support, all 590 00:32:30,640 --> 00:32:34,120 Speaker 1: of our friends in Atlantia, especially on Twitter blowing it up. 591 00:32:34,160 --> 00:32:37,280 Speaker 1: We are having so much fun engaging with you, answering 592 00:32:37,320 --> 00:32:40,720 Speaker 1: your questions. Keep them coming. We're gonna actually open up lines. 593 00:32:40,800 --> 00:32:43,640 Speaker 1: So keep engaging with us, keep talking to us about things, 594 00:32:43,680 --> 00:32:46,720 Speaker 1: because we will open up lines and have a really 595 00:32:46,760 --> 00:32:49,160 Speaker 1: good conversation with all of the people who are engaging 596 00:32:49,200 --> 00:32:53,160 Speaker 1: with us on Atlantia UM across the different platforms. So 597 00:32:53,200 --> 00:32:55,840 Speaker 1: we'll be back with an all new Atlandia in two 598 00:32:55,920 --> 00:32:59,880 Speaker 1: weeks with one of our favorite Girl Boss executives, Linda 599 00:33:00,480 --> 00:33:06,360 Speaker 1: Cmo of g E have a go on everybody. When 600 00:33:06,400 --> 00:33:08,840 Speaker 1: people think that this is the scariest time in the industry, 601 00:33:08,920 --> 00:33:13,520 Speaker 1: I couldn't disagree more. I think this is the most fascinating. 602 00:33:13,160 --> 00:33:17,480 Speaker 1: Agree you're willing to, you know, disregard necessarily sort of 603 00:33:17,520 --> 00:33:20,400 Speaker 1: like the way things were, and you start almost dreaming 604 00:33:20,440 --> 00:33:27,480 Speaker 1: as to what is possible. It's unbewievably excited. Full disclosure. 605 00:33:27,480 --> 00:33:28,560 Speaker 1: Our opinions are our own.