1 00:00:07,200 --> 00:00:12,280 Speaker 1: Welcome to Strictly Business, Variety's weekly podcast featuring conversations with 2 00:00:12,360 --> 00:00:16,319 Speaker 1: industry leaders about the business of media and entertainment. I'm 3 00:00:16,360 --> 00:00:20,520 Speaker 1: Cynthia Lyttleton, co editor in chief of Variety Today. My 4 00:00:20,600 --> 00:00:25,400 Speaker 1: guest is Detavio Samuels, CEO of Revolt. Samuels and I 5 00:00:25,560 --> 00:00:30,560 Speaker 1: unpacked the process of recapitalization and revitalization of the cable 6 00:00:30,640 --> 00:00:34,960 Speaker 1: channel launched in twenty thirteen by Sean Combs. Colmes, of course, 7 00:00:35,120 --> 00:00:38,480 Speaker 1: is the one time music mogul and lifestyle entrepreneur who 8 00:00:38,560 --> 00:00:41,760 Speaker 1: is now in federal custody awaiting trial in New York 9 00:00:41,920 --> 00:00:46,040 Speaker 1: on three counts of racketeering and sex trafficking. He's been 10 00:00:46,080 --> 00:00:50,560 Speaker 1: accused of heinous crimes. Colmes was key to Revolt's origin story. 11 00:00:51,120 --> 00:00:54,080 Speaker 1: The channel was created in a very different time for media, 12 00:00:54,360 --> 00:00:57,480 Speaker 1: as Samuels and I discuss, But Colmbs has had very 13 00:00:57,480 --> 00:01:01,480 Speaker 1: little involvement in the operation of Revolts for years. He 14 00:01:01,520 --> 00:01:04,640 Speaker 1: became fully divested of his stake last year as his 15 00:01:04,760 --> 00:01:08,800 Speaker 1: legal problems mounted. Now Revolt is owned by its employees. 16 00:01:09,319 --> 00:01:12,200 Speaker 1: That's a rarity for a media company of any size. 17 00:01:12,520 --> 00:01:16,560 Speaker 1: Samuels led the complicated process with the focus of helping 18 00:01:16,959 --> 00:01:21,200 Speaker 1: Revolt thrive in the company's second decade. Samuels came to 19 00:01:21,280 --> 00:01:24,840 Speaker 1: Revolt as chief operating Officer in twenty twenty. He was 20 00:01:24,880 --> 00:01:28,760 Speaker 1: promoted to CEO in twenty twenty one. I connected with 21 00:01:28,880 --> 00:01:32,039 Speaker 1: Samuels to check in on Revolt after the crisis involving 22 00:01:32,120 --> 00:01:35,240 Speaker 1: colms as part of my reporting for the Variety cover 23 00:01:35,319 --> 00:01:39,480 Speaker 1: story that published this week on Charlemagne the God. Charlemagne 24 00:01:39,560 --> 00:01:42,520 Speaker 1: is a prime example of a new model media mogul 25 00:01:42,640 --> 00:01:47,040 Speaker 1: adept at tapping into digital distribution to build audiences across 26 00:01:47,080 --> 00:01:53,280 Speaker 1: platforms radio, TV, podcasts, live media merch. I've always been 27 00:01:53,280 --> 00:01:57,120 Speaker 1: interested in independence and mavericks who blaze their own trails. 28 00:01:57,800 --> 00:02:01,400 Speaker 1: The social media revolution allows for creators to do just that, 29 00:02:02,000 --> 00:02:04,720 Speaker 1: but some are able to build more than just engaging 30 00:02:04,800 --> 00:02:09,400 Speaker 1: social media feeds. There's been an undeniable surge of creativity 31 00:02:09,440 --> 00:02:13,320 Speaker 1: and innovation in next generation media outlets that are squarely 32 00:02:13,400 --> 00:02:19,160 Speaker 1: targeting Black audiences. Charlemagne and his podcast networks veteran journalist 33 00:02:19,280 --> 00:02:23,079 Speaker 1: Roland Martin and his Blackstar Network, which serves up daily 34 00:02:23,160 --> 00:02:27,440 Speaker 1: news and commentary shows via YouTube and other platforms. Martin 35 00:02:27,560 --> 00:02:31,520 Speaker 1: shows look like any other cable news roundtable shows, except 36 00:02:31,520 --> 00:02:35,040 Speaker 1: for maybe the salty language. There are many more examples. 37 00:02:35,560 --> 00:02:39,360 Speaker 1: It's an exciting upsurge of independent media at a time 38 00:02:39,400 --> 00:02:42,960 Speaker 1: when a half dozen corporate giants hold more sway than 39 00:02:43,000 --> 00:02:47,400 Speaker 1: ever over traditional media. As part of my reporting, I 40 00:02:47,440 --> 00:02:50,519 Speaker 1: also reached out to Robert Johnson, the founder and former 41 00:02:50,560 --> 00:02:53,760 Speaker 1: owner of Beet Network, for his perspective on how the 42 00:02:53,840 --> 00:02:57,520 Speaker 1: landscape has evolved for black targeted media. Johnson had a 43 00:02:57,520 --> 00:03:00,880 Speaker 1: lot to say, as you'll hear following this Samuel's interview. 44 00:03:01,200 --> 00:03:12,359 Speaker 1: And that's all coming up after this break, and we're 45 00:03:12,400 --> 00:03:16,440 Speaker 1: back with the conversation with Revolt CEO de Tavio Samuels. 46 00:03:17,040 --> 00:03:20,800 Speaker 1: Datavio Samuels, CEO of Revolt, thank you so much for 47 00:03:20,880 --> 00:03:21,680 Speaker 1: joining me today. 48 00:03:22,120 --> 00:03:24,120 Speaker 2: Of course, it's a pleasure and an honor to be here. 49 00:03:24,160 --> 00:03:25,040 Speaker 2: Thank you for having me. 50 00:03:25,720 --> 00:03:27,600 Speaker 3: Let's talk. You know, there's been a lot going on 51 00:03:27,880 --> 00:03:31,079 Speaker 3: at Revolt in the last couple of years, as there 52 00:03:31,160 --> 00:03:34,320 Speaker 3: has been in all of PayTV. It's not exactly been 53 00:03:34,360 --> 00:03:38,080 Speaker 3: a chill time for the business. And you know, you 54 00:03:38,200 --> 00:03:40,880 Speaker 3: run it. It's never been easy to run an independent 55 00:03:41,000 --> 00:03:45,040 Speaker 3: or smaller media company, and Revolt has really the we'll 56 00:03:45,040 --> 00:03:47,440 Speaker 3: talk about the origin story of Revolt, but it has 57 00:03:47,960 --> 00:03:50,720 Speaker 3: was really born out of a specific time and place 58 00:03:50,760 --> 00:03:53,640 Speaker 3: in television, and that time and place in that dynamic 59 00:03:53,680 --> 00:03:57,240 Speaker 3: has changed one hundred and eighty degrees from the time 60 00:03:57,280 --> 00:03:59,720 Speaker 3: that it was from the time that was Revolt was born. 61 00:04:00,080 --> 00:04:02,280 Speaker 3: So let's let me just start by here we are. 62 00:04:02,320 --> 00:04:05,720 Speaker 3: We are in March twenty twenty five, the thirty thousand 63 00:04:05,720 --> 00:04:07,760 Speaker 3: foot view. I know we're going to talk about some 64 00:04:07,880 --> 00:04:11,120 Speaker 3: changes and some reorganization that you are bringing to Revolt. 65 00:04:11,400 --> 00:04:15,120 Speaker 3: Give me your vision for what you know, what Revolt 66 00:04:15,440 --> 00:04:19,120 Speaker 3: is in today's media landscape. What does it offer to 67 00:04:19,200 --> 00:04:21,960 Speaker 3: an audience that is unique and that is going to 68 00:04:21,960 --> 00:04:24,719 Speaker 3: be your you know, your selling proposition to viewers. 69 00:04:25,279 --> 00:04:27,760 Speaker 2: Yeah, sure, I think that you know what we would 70 00:04:27,800 --> 00:04:30,039 Speaker 2: say is right now, Revolt is the number one youth 71 00:04:30,080 --> 00:04:33,279 Speaker 2: culture brand. I think this is a space that historically, 72 00:04:33,839 --> 00:04:36,040 Speaker 2: you know, may have been owned by people like Red 73 00:04:36,080 --> 00:04:39,080 Speaker 2: Bull who did it through kind of adventures, X Games, 74 00:04:39,080 --> 00:04:42,800 Speaker 2: who did it through extreme sports. You have people like 75 00:04:42,880 --> 00:04:46,000 Speaker 2: Busfeed who kind of did it through buzzy quizzes. Revolt 76 00:04:46,040 --> 00:04:50,599 Speaker 2: has been doing that exact same thing reaching today's youth culture, 77 00:04:50,720 --> 00:04:53,760 Speaker 2: but through a very much a multiculture and specifically a 78 00:04:53,800 --> 00:04:56,919 Speaker 2: black lens, right, and so that's who we are today. 79 00:04:58,120 --> 00:05:01,719 Speaker 2: We have on our platform of the biggest creators out 80 00:05:01,880 --> 00:05:06,640 Speaker 2: known today, right from Kresha to Drink Champs with Noriega 81 00:05:07,000 --> 00:05:10,400 Speaker 2: and Djefn. Right now we got Brandon Marshall x NFL 82 00:05:10,440 --> 00:05:13,320 Speaker 2: football player who's helping us build kind of what we 83 00:05:13,360 --> 00:05:15,599 Speaker 2: see as a black sports center. And so we partner 84 00:05:15,640 --> 00:05:18,039 Speaker 2: with the biggest creators in the game to have the 85 00:05:18,040 --> 00:05:21,320 Speaker 2: biggest conversations. That's really what Revolt is right now. The 86 00:05:21,440 --> 00:05:24,280 Speaker 2: dream is really to build this kind of multi platform 87 00:05:24,400 --> 00:05:26,760 Speaker 2: media implop pire and the way that's never been built 88 00:05:26,800 --> 00:05:29,320 Speaker 2: before with the multicultural lens. 89 00:05:29,360 --> 00:05:29,960 Speaker 4: You've seen it. 90 00:05:30,320 --> 00:05:32,800 Speaker 2: You know, you've got your paramounts, You've got your disneys, 91 00:05:32,839 --> 00:05:35,000 Speaker 2: you have all of these things that are great brands. 92 00:05:35,040 --> 00:05:39,680 Speaker 2: But historically media has always centered whiteness, the stories of whiteness, 93 00:05:39,720 --> 00:05:42,160 Speaker 2: and so what Revolter is trying to do is elevate 94 00:05:43,040 --> 00:05:45,400 Speaker 2: black and brown stories. You know, the truth is that 95 00:05:46,200 --> 00:05:49,000 Speaker 2: around the world, our white brothers and sisters make up 96 00:05:49,000 --> 00:05:51,800 Speaker 2: about ten to fifteen percent of the population, and so. 97 00:05:51,839 --> 00:05:54,599 Speaker 4: The global majority is people of color. 98 00:05:54,680 --> 00:05:54,840 Speaker 5: Right. 99 00:05:54,839 --> 00:05:57,359 Speaker 2: The truth in the US is, ever since the twenty 100 00:05:57,400 --> 00:05:59,520 Speaker 2: ten census, what they've been saying is that non Hispanic 101 00:05:59,560 --> 00:06:02,560 Speaker 2: white power relation is shrinking, Black and brown are growing, 102 00:06:02,560 --> 00:06:07,080 Speaker 2: and so we see a tremendous opportunity to elevate the 103 00:06:07,120 --> 00:06:12,839 Speaker 2: stories of these historically underrepresented groups, knowing that today everybody 104 00:06:12,920 --> 00:06:15,200 Speaker 2: is going to come watch and consume. And so what 105 00:06:15,240 --> 00:06:17,640 Speaker 2: we would say is that, you know, for Revolts specifically, 106 00:06:17,680 --> 00:06:20,400 Speaker 2: the DJ might be black, the music might be black, 107 00:06:20,440 --> 00:06:22,640 Speaker 2: but everybody's invited to the party. 108 00:06:25,400 --> 00:06:28,440 Speaker 3: Tell me about in terms of in terms of programming, 109 00:06:28,520 --> 00:06:32,239 Speaker 3: it's largely unscripted. You have a lot of conversation shows. 110 00:06:32,640 --> 00:06:36,120 Speaker 3: How do you how do you o? You talked about 111 00:06:36,400 --> 00:06:39,880 Speaker 3: partnering with creators that certainly bring you an audience. How 112 00:06:39,920 --> 00:06:41,960 Speaker 3: do you break through with that? 113 00:06:42,080 --> 00:06:42,120 Speaker 5: What? 114 00:06:42,279 --> 00:06:44,440 Speaker 3: What have you found has been the way to get 115 00:06:44,480 --> 00:06:47,120 Speaker 3: to just in the sea of content that people have 116 00:06:47,240 --> 00:06:50,960 Speaker 3: on their phones, let alone their let alone their media feeds. 117 00:06:51,360 --> 00:06:52,760 Speaker 3: How do you break through? 118 00:06:53,560 --> 00:06:55,680 Speaker 2: Yeah? I think you just nailed it for us. It 119 00:06:55,800 --> 00:06:59,200 Speaker 2: is a massive bet on the creators that we partner with, right. 120 00:06:59,520 --> 00:07:01,960 Speaker 2: I think when you look at most media companies, as 121 00:07:01,960 --> 00:07:04,400 Speaker 2: a chief content officer who's leading a bunch of teams 122 00:07:04,440 --> 00:07:07,640 Speaker 2: to develop programming from whatever that lens is, right, our 123 00:07:07,720 --> 00:07:11,520 Speaker 2: lens is not necessarily content first, it's creator first. Who 124 00:07:11,600 --> 00:07:14,840 Speaker 2: is that creator? What is their lens and what is 125 00:07:14,880 --> 00:07:18,160 Speaker 2: their audience? I get here because you know, probably back 126 00:07:18,200 --> 00:07:21,240 Speaker 2: in early twenty let's call it twenty fourteen, twenty fifteen, 127 00:07:21,720 --> 00:07:24,800 Speaker 2: I was working at TV one underneath Alfred Liggins and 128 00:07:24,880 --> 00:07:27,720 Speaker 2: Kathy Hughes, and I can remember every day waking up 129 00:07:27,760 --> 00:07:31,440 Speaker 2: looking at the Nielsen reports, right, Beet two hundred thousand 130 00:07:31,520 --> 00:07:35,120 Speaker 2: viewers in prime time, WeTV, Bravo three hundred thousand viewers 131 00:07:35,120 --> 00:07:37,920 Speaker 2: at prime time. And then I remember opening my phone, 132 00:07:37,960 --> 00:07:39,760 Speaker 2: and this was when Will Smith was kind of just 133 00:07:39,800 --> 00:07:42,560 Speaker 2: starting to do his run in social media, and I'm 134 00:07:42,600 --> 00:07:45,280 Speaker 2: looking at Will Smith, a million views on him jumping 135 00:07:45,280 --> 00:07:48,000 Speaker 2: out of a helicopter in less than twenty four hours, right, 136 00:07:48,360 --> 00:07:51,360 Speaker 2: and I'm going, oh my god, this game is shifting. 137 00:07:51,880 --> 00:07:55,880 Speaker 2: Creators influencers are actually the new media, and if they 138 00:07:55,960 --> 00:07:58,520 Speaker 2: ever learn or realize how to play the game and 139 00:07:58,520 --> 00:08:00,320 Speaker 2: the way the networks are playing the game going to 140 00:08:00,360 --> 00:08:03,360 Speaker 2: be pretty dangerous for us all. And so since that day, 141 00:08:03,400 --> 00:08:06,560 Speaker 2: I've been always working to combine the two. Find the 142 00:08:06,840 --> 00:08:11,720 Speaker 2: creators with the biggest audiences with clear point of views 143 00:08:11,760 --> 00:08:14,800 Speaker 2: on the world, Let's bring them into our ecosystem. And 144 00:08:14,840 --> 00:08:16,640 Speaker 2: then we do what they can't do on their own. 145 00:08:16,920 --> 00:08:20,320 Speaker 2: We help amplify their content. We bring our production values 146 00:08:20,360 --> 00:08:23,080 Speaker 2: and production quality to the content that they're already exciting 147 00:08:23,120 --> 00:08:27,040 Speaker 2: about making, and in some examples, are already making it right. 148 00:08:27,080 --> 00:08:30,080 Speaker 2: So if you take examples like Karrisha Please Koresha was 149 00:08:30,120 --> 00:08:34,480 Speaker 2: on Instagram with Saucy Santana doing Instagram Lives right, we 150 00:08:34,520 --> 00:08:37,560 Speaker 2: took that same show, elevated the production quality of it 151 00:08:37,600 --> 00:08:40,520 Speaker 2: and made it a hit. Another example is Fat Joe. 152 00:08:40,559 --> 00:08:43,640 Speaker 2: Fat Joe was on Instagram doing his Instagram Live during COVID. 153 00:08:44,000 --> 00:08:46,520 Speaker 2: We took that show elevated and now he's launching with 154 00:08:46,559 --> 00:08:48,439 Speaker 2: a premium show on Stars. 155 00:08:48,320 --> 00:08:50,840 Speaker 3: That he made quite a name for himself during COVID. 156 00:08:50,880 --> 00:08:52,440 Speaker 4: Yeah, that's exactly right. 157 00:08:52,520 --> 00:08:55,080 Speaker 2: So I one hundred percent believe that there's a lot 158 00:08:55,120 --> 00:08:57,440 Speaker 2: of great, amazing content out there that will die on 159 00:08:57,480 --> 00:09:00,880 Speaker 2: the vine because it never gets discovered. To ensuring that 160 00:09:00,920 --> 00:09:03,679 Speaker 2: we get discovered is dealing with the creators who are 161 00:09:03,760 --> 00:09:07,280 Speaker 2: already big voices in the culture, already have big audiences 162 00:09:07,280 --> 00:09:09,680 Speaker 2: in the culture, and working with them to create the 163 00:09:09,760 --> 00:09:12,440 Speaker 2: content and the stories that we believe can penetrate and 164 00:09:12,480 --> 00:09:13,439 Speaker 2: break through the culture. 165 00:09:14,200 --> 00:09:17,520 Speaker 3: You because as you say, everything is that everything is 166 00:09:17,600 --> 00:09:20,120 Speaker 3: changing about the game and it used to be. Of course, 167 00:09:20,160 --> 00:09:23,000 Speaker 3: it used to be all about exclusivity. The only place 168 00:09:23,080 --> 00:09:26,560 Speaker 3: you could see friends was NBC. The only place that 169 00:09:26,640 --> 00:09:28,920 Speaker 3: you could see Saturday Night Live was NBC. The only 170 00:09:28,960 --> 00:09:31,960 Speaker 3: place you could see in living color was Fox back 171 00:09:31,960 --> 00:09:35,320 Speaker 3: in the day. Now you know Revolt content is widely 172 00:09:35,360 --> 00:09:40,240 Speaker 3: distributed on YouTube on different platforms. How does that world 173 00:09:40,360 --> 00:09:43,040 Speaker 3: change the game? It would seem like that would benefit 174 00:09:43,240 --> 00:09:46,360 Speaker 3: you having the big creator names, if there's many ways 175 00:09:46,400 --> 00:09:48,760 Speaker 3: to come in and find people to find them. 176 00:09:49,280 --> 00:09:52,720 Speaker 2: Yeah, a Revolt we say we're pioneering the new era 177 00:09:52,880 --> 00:09:56,960 Speaker 2: of entertainment, and for us, that's about three things. One 178 00:09:57,440 --> 00:09:59,560 Speaker 2: this first piece, we talked about working with the creators 179 00:09:59,559 --> 00:10:03,840 Speaker 2: who shape and move culture to dominating social. You see 180 00:10:03,880 --> 00:10:07,400 Speaker 2: a lot of linear networks, a lot of radio platforms 181 00:10:07,400 --> 00:10:09,640 Speaker 2: that are really still not focused on playing the game. 182 00:10:09,640 --> 00:10:12,520 Speaker 2: And social, we talked about being discovered. If you are 183 00:10:12,520 --> 00:10:15,079 Speaker 2: not winning the game at social, you're never going to 184 00:10:15,120 --> 00:10:18,280 Speaker 2: be discovered, right, So making sure that you're you know, 185 00:10:18,520 --> 00:10:22,200 Speaker 2: resources and focuses on winning and dominating in social. And 186 00:10:22,240 --> 00:10:24,040 Speaker 2: then number three is the piece that you're talking about, 187 00:10:24,040 --> 00:10:27,720 Speaker 2: which really is a multi platform distributed model. I think 188 00:10:27,760 --> 00:10:30,480 Speaker 2: the old model based on exclusivity, and we still have 189 00:10:30,520 --> 00:10:32,920 Speaker 2: to do exclusivity because we've got, you know, a linear 190 00:10:32,960 --> 00:10:35,319 Speaker 2: business and some great partners who have continued to stand 191 00:10:35,320 --> 00:10:38,120 Speaker 2: by us in the cable industry. But barring what we 192 00:10:38,160 --> 00:10:40,520 Speaker 2: give them, our kind of viewpoint on the world and 193 00:10:40,559 --> 00:10:44,040 Speaker 2: on the landscape as relates to the distribution of content 194 00:10:44,080 --> 00:10:47,880 Speaker 2: is the old model was very much a media first, 195 00:10:48,040 --> 00:10:51,360 Speaker 2: media centric, Right. We tell you when your magazine show up, 196 00:10:51,400 --> 00:10:54,760 Speaker 2: we tell you when this show is going to be air, 197 00:10:54,800 --> 00:10:57,199 Speaker 2: and you're going to go up for disappointment in this time. 198 00:10:57,640 --> 00:10:59,720 Speaker 2: The new model is based on more of a user 199 00:10:59,760 --> 00:11:00,640 Speaker 2: sent trick model. 200 00:11:00,720 --> 00:11:00,880 Speaker 5: Right. 201 00:11:01,160 --> 00:11:04,280 Speaker 2: We first all discover the content at social and then 202 00:11:04,360 --> 00:11:07,320 Speaker 2: wherever we discover it, we go to whatever our favorite 203 00:11:07,360 --> 00:11:08,280 Speaker 2: platforms are. 204 00:11:08,080 --> 00:11:08,680 Speaker 4: To consume it. 205 00:11:09,080 --> 00:11:13,000 Speaker 2: If it's podcasts, you go to Spotify, Apple, if it's TV, 206 00:11:13,160 --> 00:11:15,640 Speaker 2: you might be going to Netflix, Disney wherever. Right, And 207 00:11:15,679 --> 00:11:19,640 Speaker 2: so for us, the big win is to be distributed everywhere. 208 00:11:19,880 --> 00:11:21,559 Speaker 2: One of the reasons why you see us do these 209 00:11:21,559 --> 00:11:24,080 Speaker 2: talk shows is because it allows us to do it right. 210 00:11:24,120 --> 00:11:24,880 Speaker 4: So I'll use. 211 00:11:24,760 --> 00:11:27,960 Speaker 2: Kresha again as an example. When we used to air 212 00:11:28,080 --> 00:11:30,920 Speaker 2: when we air an episode of Karsha, you will see 213 00:11:30,960 --> 00:11:34,760 Speaker 2: her be top ten trending topic in Twitter, right, dominating social, 214 00:11:35,160 --> 00:11:38,120 Speaker 2: You'll see her be top five maybe top yeah, top 215 00:11:38,160 --> 00:11:41,480 Speaker 2: five trending and Apple Music podcasts right. And then you'll 216 00:11:41,480 --> 00:11:44,319 Speaker 2: see her be top five, top ten trending on YouTube. 217 00:11:44,440 --> 00:11:44,640 Speaker 4: Right. 218 00:11:45,040 --> 00:11:47,600 Speaker 2: That is the idea for us that wherever people want 219 00:11:47,640 --> 00:11:50,280 Speaker 2: to consume, however they want to consume based on their 220 00:11:50,320 --> 00:11:54,120 Speaker 2: own personal behaviors, that's where our content needs to live. 221 00:11:54,160 --> 00:11:56,599 Speaker 2: And so that for us is the future outside and 222 00:11:56,679 --> 00:11:58,440 Speaker 2: making sure that we take care of our partners on 223 00:11:58,480 --> 00:12:00,720 Speaker 2: the linear side and that they get the exclusive content 224 00:12:00,760 --> 00:12:03,480 Speaker 2: that they deserve. As a brand in general, we very 225 00:12:03,559 --> 00:12:08,200 Speaker 2: much are a distributed, multi platform viewpoint on the world. 226 00:12:08,800 --> 00:12:11,080 Speaker 3: What I think, I know the answer, But what are 227 00:12:11,120 --> 00:12:14,200 Speaker 3: the social platforms that really move the needle for you? 228 00:12:14,720 --> 00:12:15,280 Speaker 4: Yeah? 229 00:12:15,320 --> 00:12:17,880 Speaker 2: For sure, our two biggest ones that we focus on 230 00:12:17,880 --> 00:12:20,880 Speaker 2: our Instagram and TikTok. Those are the ones that we 231 00:12:20,920 --> 00:12:23,840 Speaker 2: see have been incredible in terms of helping the brand. 232 00:12:23,559 --> 00:12:26,640 Speaker 4: Go viral quote unquote viral and people show up. 233 00:12:26,679 --> 00:12:29,360 Speaker 2: I would say, you know, maybe as a close you know, 234 00:12:29,400 --> 00:12:31,600 Speaker 2: three and four for us are probably Facebook and X 235 00:12:31,880 --> 00:12:33,960 Speaker 2: But I think also because our audience tends to be 236 00:12:34,000 --> 00:12:37,120 Speaker 2: a little bit younger or skew younger. TikTok and Instagram 237 00:12:37,120 --> 00:12:40,040 Speaker 2: are the go tos for us. That algorithm on TikTok 238 00:12:40,160 --> 00:12:44,559 Speaker 2: is something special. You know, I've never seen a social 239 00:12:44,600 --> 00:12:48,520 Speaker 2: media platform that shows your content to so many viewers 240 00:12:48,520 --> 00:12:51,120 Speaker 2: and gives you the opportunity to go viral. I'm watching 241 00:12:51,480 --> 00:12:54,880 Speaker 2: kids go from zero followers to a million followers overnight, 242 00:12:55,280 --> 00:12:58,679 Speaker 2: and so yeah, definitely a very specific or very special 243 00:12:58,760 --> 00:13:01,640 Speaker 2: platform and very much alive today. 244 00:13:02,200 --> 00:13:05,360 Speaker 3: And they help in. The algorithm is strong enough to like, 245 00:13:05,440 --> 00:13:09,040 Speaker 3: if somebody likes one piece of content that comes through Revolt, 246 00:13:09,440 --> 00:13:13,040 Speaker 3: they'll likely get served up more Revolt content. That's why 247 00:13:13,040 --> 00:13:14,000 Speaker 3: you're smiling like that. 248 00:13:15,440 --> 00:13:17,480 Speaker 4: Yeah, I mean we've built a TikTok audience. 249 00:13:17,520 --> 00:13:20,080 Speaker 2: You know, we've been on Instagram for you know, a 250 00:13:20,120 --> 00:13:22,880 Speaker 2: problem with a guess and say almost a decade, right, 251 00:13:23,000 --> 00:13:25,640 Speaker 2: two million, you know, a couple of million followers. We 252 00:13:25,720 --> 00:13:28,400 Speaker 2: basically have almost the same amount of followers on TikTok 253 00:13:28,440 --> 00:13:30,160 Speaker 2: and we launched maybe two years ago. 254 00:13:30,480 --> 00:13:30,760 Speaker 5: Wow. 255 00:13:32,120 --> 00:13:35,520 Speaker 3: What about YouTube? Is that a significant distributor for you? 256 00:13:36,120 --> 00:13:36,760 Speaker 4: Absolutely? 257 00:13:36,800 --> 00:13:39,760 Speaker 2: I would argue that, you know, our two largest video 258 00:13:39,800 --> 00:13:45,120 Speaker 2: consumption platforms are going to be YouTube and our linear network. Again, 259 00:13:45,200 --> 00:13:48,599 Speaker 2: given the demographic of our audience, YouTube right now is 260 00:13:48,640 --> 00:13:51,000 Speaker 2: the number one streaming platform, so many people are not 261 00:13:51,080 --> 00:13:53,280 Speaker 2: just watching it on phones, but they're now watching it 262 00:13:53,320 --> 00:13:54,440 Speaker 2: on CT. 263 00:13:54,600 --> 00:13:57,560 Speaker 3: Those lines crossed just the other day. I'm sure you 264 00:13:57,600 --> 00:14:02,320 Speaker 3: saw more people are watching YouTube on television than on 265 00:14:02,360 --> 00:14:04,360 Speaker 3: their phones or anything, which is pretty incredible. 266 00:14:04,640 --> 00:14:06,840 Speaker 2: Absolutely, which is why we can put the content that 267 00:14:06,880 --> 00:14:08,840 Speaker 2: we can put there. And it worked because people are 268 00:14:08,920 --> 00:14:11,840 Speaker 2: very much in a lean back, sit back experience. And 269 00:14:11,880 --> 00:14:15,480 Speaker 2: so yes, without question, YouTube is a massive, massive focus 270 00:14:15,480 --> 00:14:15,920 Speaker 2: for us. 271 00:14:16,480 --> 00:14:20,360 Speaker 3: Interesting and in terms of just in terms of pure monetization, 272 00:14:20,840 --> 00:14:23,920 Speaker 3: is it you still have a linear business, so you 273 00:14:24,000 --> 00:14:27,160 Speaker 3: have some affiliate revenue coming in, But would you say 274 00:14:27,200 --> 00:14:29,960 Speaker 3: that just in the world where we know that traditional 275 00:14:29,960 --> 00:14:33,840 Speaker 3: linear cable is certainly not growing, I would imagine that 276 00:14:33,840 --> 00:14:35,920 Speaker 3: that's putting more pressure on you on the ad side 277 00:14:35,960 --> 00:14:36,880 Speaker 3: and brand side. 278 00:14:37,080 --> 00:14:37,280 Speaker 5: Yeah. 279 00:14:37,320 --> 00:14:39,040 Speaker 2: No, you're one hundred percent right. So I got to 280 00:14:39,080 --> 00:14:42,440 Speaker 2: the business in twenty twenty. Back then, the business was 281 00:14:42,520 --> 00:14:48,720 Speaker 2: probably you know, two fifths advertising, three fifths linear side 282 00:14:48,720 --> 00:14:51,240 Speaker 2: of the business. And seeing what was happening to the 283 00:14:51,280 --> 00:14:53,760 Speaker 2: industry with core cutting and the like, we put a 284 00:14:53,800 --> 00:14:57,960 Speaker 2: massive focus on growing and expanding our digital footprint and 285 00:14:58,000 --> 00:15:01,520 Speaker 2: then doing that being able to grow and our advertising business, 286 00:15:01,520 --> 00:15:04,160 Speaker 2: and so yes, over the last four years, our digital 287 00:15:04,160 --> 00:15:07,600 Speaker 2: footprint has drown in quantum leaps, as has our ad business. 288 00:15:07,880 --> 00:15:10,800 Speaker 2: Our ad business today, when compared to when I took 289 00:15:10,840 --> 00:15:13,960 Speaker 2: over in twenty twenty, is about six times bigger than 290 00:15:13,960 --> 00:15:17,080 Speaker 2: it was. And so when you look at our numbers now, 291 00:15:17,600 --> 00:15:19,640 Speaker 2: I would say the linear side of the business is 292 00:15:19,680 --> 00:15:22,680 Speaker 2: about one fifth of the business and advertising is four 293 00:15:22,720 --> 00:15:25,120 Speaker 2: fifths of the business, and a tremendous shift over the 294 00:15:25,120 --> 00:15:26,360 Speaker 2: course of the last few years. 295 00:15:26,640 --> 00:15:29,080 Speaker 3: Yeah, that's I mean, that's a big that's a big 296 00:15:29,160 --> 00:15:32,560 Speaker 3: fundamental business model. I know it will not be a 297 00:15:32,600 --> 00:15:35,920 Speaker 3: surprise to you to know that in talking to a 298 00:15:35,920 --> 00:15:38,840 Speaker 3: lot of people in advertising and people that are that 299 00:15:38,880 --> 00:15:42,920 Speaker 3: are really building impressive black owned media businesses, which I've 300 00:15:42,920 --> 00:15:45,880 Speaker 3: covered media long enough to know that we are seeing 301 00:15:46,240 --> 00:15:49,840 Speaker 3: against all odds, against the consolidation, against the biggest of 302 00:15:49,880 --> 00:15:53,880 Speaker 3: the big, it is undeniable that you are seeing real 303 00:15:53,960 --> 00:15:58,040 Speaker 3: pockets of sizable businesses starting to grow, which is incredible, 304 00:15:58,400 --> 00:16:02,720 Speaker 3: and it's also utterly can't even believe the stories that 305 00:16:03,400 --> 00:16:07,360 Speaker 3: I'm hearing, anecdotal stories of people knocking on the doors 306 00:16:07,360 --> 00:16:09,960 Speaker 3: of the big holding companies. Would you say, do you 307 00:16:10,000 --> 00:16:13,320 Speaker 3: feel like is Revolt able to play in the general 308 00:16:13,360 --> 00:16:17,880 Speaker 3: market waters or is it largely that the advertising that 309 00:16:17,920 --> 00:16:22,800 Speaker 3: flows through Revolts is still flowing through smaller, frankly more 310 00:16:22,880 --> 00:16:26,080 Speaker 3: narrowly targeted urban budgets. 311 00:16:26,280 --> 00:16:28,840 Speaker 2: I would say Revolt has been fortunate and I think 312 00:16:28,920 --> 00:16:30,720 Speaker 2: we're unique in this and that we are able to 313 00:16:30,720 --> 00:16:33,040 Speaker 2: pull from both. Again, you go back to the way 314 00:16:33,040 --> 00:16:35,680 Speaker 2: we position ourselves as the number one youth culture brand. 315 00:16:35,680 --> 00:16:38,320 Speaker 2: When you look at our audience, it's very much cross cultural. 316 00:16:38,360 --> 00:16:39,280 Speaker 4: We touch people of. 317 00:16:39,280 --> 00:16:44,080 Speaker 2: Every single ethnicity. Today the audience is about sixty six 318 00:16:44,120 --> 00:16:48,160 Speaker 2: percent people of color, one third white, So we touch everyone, right. 319 00:16:48,200 --> 00:16:50,640 Speaker 2: And then again, you know, our pitch to brands is 320 00:16:50,640 --> 00:16:53,040 Speaker 2: we are cross cultural. We touch everybody, but we over 321 00:16:53,120 --> 00:16:56,120 Speaker 2: index with those fast growing black and brown populations, right, 322 00:16:56,200 --> 00:16:58,560 Speaker 2: So we think we've got an audience that's magic. 323 00:16:58,640 --> 00:16:59,440 Speaker 4: It's hard to reach. 324 00:16:59,480 --> 00:17:02,040 Speaker 2: Everybody wants it, and so that allows us to go 325 00:17:02,080 --> 00:17:05,440 Speaker 2: after those general market budgets, which is even more critical 326 00:17:05,480 --> 00:17:08,439 Speaker 2: now because I think you know, the tremendous growth that 327 00:17:08,480 --> 00:17:11,200 Speaker 2: we've seen from black media over the course of the 328 00:17:11,280 --> 00:17:15,080 Speaker 2: last few years was largely driven by brands committing the 329 00:17:15,160 --> 00:17:20,159 Speaker 2: DEI being focused on and intentional about injecting money and 330 00:17:20,240 --> 00:17:22,000 Speaker 2: resources into black owned media. 331 00:17:22,440 --> 00:17:23,879 Speaker 4: I think gone are those days? 332 00:17:23,960 --> 00:17:24,120 Speaker 6: Right? 333 00:17:24,160 --> 00:17:27,360 Speaker 2: So I'm actually quite nervous and quite worried about what's 334 00:17:27,400 --> 00:17:30,640 Speaker 2: going to happen to black media going forward. Feeling much 335 00:17:30,640 --> 00:17:33,840 Speaker 2: better about Revolt because again we can pull from both budgets. 336 00:17:35,000 --> 00:17:38,120 Speaker 1: Don't go anywhere. We'll be right back with more from 337 00:17:38,160 --> 00:17:46,400 Speaker 1: Revolt CEO to Tavio Samuels. And we're back with more 338 00:17:46,560 --> 00:17:50,800 Speaker 1: from Revolt CEO Totavio Samuels, and stay tuned after that 339 00:17:50,960 --> 00:17:53,520 Speaker 1: for comments from Beet founder Robert Johnson. 340 00:17:53,960 --> 00:17:57,200 Speaker 3: I mean, let's just go there. We are talking the 341 00:17:57,280 --> 00:18:00,520 Speaker 3: day after the State of the Union, which was very 342 00:18:00,560 --> 00:18:05,000 Speaker 3: hard for this good chunk of America that was very, 343 00:18:05,080 --> 00:18:08,840 Speaker 3: very disheartened by what they heard. I realized, we're still, 344 00:18:09,040 --> 00:18:10,720 Speaker 3: you know, not even two months in. But what do 345 00:18:10,800 --> 00:18:13,240 Speaker 3: you what has what have you felt has been the 346 00:18:13,400 --> 00:18:17,679 Speaker 3: impact on the business climate, the overall business climate for Revolt? 347 00:18:17,800 --> 00:18:21,240 Speaker 2: It is making the job more difficult. I'll answer at 348 00:18:21,240 --> 00:18:24,639 Speaker 2: first from a black media perspective and then a Revote perspective, 349 00:18:24,640 --> 00:18:26,840 Speaker 2: because again, I think Revolt is a little bit different 350 00:18:26,880 --> 00:18:28,320 Speaker 2: from the rest of the category. 351 00:18:28,840 --> 00:18:30,160 Speaker 4: From a black media. 352 00:18:29,960 --> 00:18:35,480 Speaker 2: Perspective, I'm incredibly nervous about what's going to happen. My belief, 353 00:18:35,920 --> 00:18:40,200 Speaker 2: my forecast today is that we will lose some black 354 00:18:40,240 --> 00:18:42,960 Speaker 2: media outlets over the course of the next few years 355 00:18:43,400 --> 00:18:47,040 Speaker 2: as the White House is being very focused on dismantling DEI, 356 00:18:47,680 --> 00:18:55,200 Speaker 2: as corporations are cow towing or accepting it and using 357 00:18:55,200 --> 00:18:59,240 Speaker 2: it as an excuse to offload black media. I'm very 358 00:18:59,280 --> 00:19:03,200 Speaker 2: nervous for the category and what happens to the group. 359 00:19:03,520 --> 00:19:07,239 Speaker 2: So that's one from a revolt standpoint, It's actually been 360 00:19:07,280 --> 00:19:10,600 Speaker 2: really interesting. So you know, for me, I'm sitting across 361 00:19:10,600 --> 00:19:14,880 Speaker 2: from CEO CMOS chief media officers trying to understand whether 362 00:19:14,920 --> 00:19:18,000 Speaker 2: they put statements out or not where they sit, and 363 00:19:18,080 --> 00:19:21,879 Speaker 2: what has consistently come back to me is, don't necessarily 364 00:19:21,880 --> 00:19:24,439 Speaker 2: pay attention to the words, pay attention to the deeds 365 00:19:24,480 --> 00:19:25,440 Speaker 2: and the behaviors. 366 00:19:25,600 --> 00:19:25,800 Speaker 5: Right. 367 00:19:26,240 --> 00:19:28,040 Speaker 2: I know that there are a lot of brands, a 368 00:19:28,080 --> 00:19:32,960 Speaker 2: lot of advertisers who are making these statements to roll 369 00:19:33,080 --> 00:19:37,240 Speaker 2: THEI back, not because they don't believe, because literally they're 370 00:19:37,280 --> 00:19:40,280 Speaker 2: just trying to get out of the crosshairs of Donald Trump. 371 00:19:40,400 --> 00:19:41,600 Speaker 4: Robbie Starbucks, etc. 372 00:19:41,960 --> 00:19:44,480 Speaker 2: Right, And so for many of them, I believe it 373 00:19:44,560 --> 00:19:47,359 Speaker 2: is a tactic to take the bullseye off of their chests. 374 00:19:48,040 --> 00:19:52,240 Speaker 2: That said, they still many of them still feel very stuck. 375 00:19:52,320 --> 00:19:54,920 Speaker 4: To me, when you. 376 00:19:54,960 --> 00:19:58,960 Speaker 2: Have platforms that were rooted in supporting black entrepreneurs or 377 00:19:59,040 --> 00:20:02,080 Speaker 2: rooted in supporting black creators and you still want to 378 00:20:02,119 --> 00:20:04,120 Speaker 2: move forward with it, but now you got to take 379 00:20:04,200 --> 00:20:06,119 Speaker 2: black out the name, and now you want to make 380 00:20:06,160 --> 00:20:08,000 Speaker 2: sure that if it's out there in the marketplace, that 381 00:20:08,080 --> 00:20:11,480 Speaker 2: again Donald Trump or Robbie Starbucker not coming at you 382 00:20:11,560 --> 00:20:16,040 Speaker 2: for it. For me, well, I believe that the money 383 00:20:16,080 --> 00:20:18,160 Speaker 2: will still be there for Revolt because we can pull 384 00:20:18,240 --> 00:20:20,640 Speaker 2: from from the black side of the budget as well 385 00:20:20,640 --> 00:20:22,880 Speaker 2: as the general market side of the budget. I am 386 00:20:23,000 --> 00:20:26,800 Speaker 2: feeling right now, brands feeling stuck. They don't have the 387 00:20:26,880 --> 00:20:30,680 Speaker 2: platforms to move on. They don't know what stories they're 388 00:20:30,680 --> 00:20:34,760 Speaker 2: trying to tell, and it is all rooted in just 389 00:20:34,920 --> 00:20:39,520 Speaker 2: fear of persecution from the right and from the White House. 390 00:20:39,560 --> 00:20:41,919 Speaker 2: And so for me, the future of Revolt, you know 391 00:20:41,960 --> 00:20:43,919 Speaker 2: we're gonna make it. But what I'm trying to do 392 00:20:44,000 --> 00:20:46,640 Speaker 2: is make sure that we don't just survive, that we thrive. 393 00:20:47,200 --> 00:20:49,480 Speaker 2: And part of thriving is going to be figuring out 394 00:20:49,520 --> 00:20:53,280 Speaker 2: how to unstick these brands so that they can have 395 00:20:53,359 --> 00:20:56,280 Speaker 2: platforms and initiatives that do the work that they really 396 00:20:56,359 --> 00:20:59,159 Speaker 2: want to do, but again without being in the crosshairs 397 00:20:59,240 --> 00:21:01,200 Speaker 2: of people from the other side. 398 00:21:01,680 --> 00:21:05,320 Speaker 3: Revolt we know was started by Shawn Combs. I think 399 00:21:05,480 --> 00:21:07,240 Speaker 3: the world knows that he had stepped away from the 400 00:21:07,280 --> 00:21:11,560 Speaker 3: business a long time ago and now formally is completely out. 401 00:21:11,720 --> 00:21:14,360 Speaker 3: So I just want to state that. So let's take 402 00:21:14,400 --> 00:21:16,960 Speaker 3: it from there in terms of you obviously had a 403 00:21:16,960 --> 00:21:20,240 Speaker 3: big transition for the company and then what led to 404 00:21:20,280 --> 00:21:24,760 Speaker 3: the decision to make it an employee owned largely employee 405 00:21:24,760 --> 00:21:25,840 Speaker 3: owned operation. 406 00:21:26,520 --> 00:21:28,160 Speaker 4: Yeah, there are a couple of things. 407 00:21:28,680 --> 00:21:31,480 Speaker 2: One, from the day I took the job to come 408 00:21:31,520 --> 00:21:33,760 Speaker 2: to Revolt, I had a goal or a dream of 409 00:21:33,760 --> 00:21:36,360 Speaker 2: trying to make sure that at the minimum, the management 410 00:21:36,400 --> 00:21:38,919 Speaker 2: team all had equity. My dream was really for all 411 00:21:38,960 --> 00:21:40,919 Speaker 2: employees to have equity. So that's been a dream for 412 00:21:40,960 --> 00:21:45,400 Speaker 2: me since twenty twenty two, as you know, to your point, 413 00:21:45,400 --> 00:21:48,040 Speaker 2: and thank you for saying it. As Shawn Colms got 414 00:21:48,080 --> 00:21:51,480 Speaker 2: the allegations, he immediately stepped down as chairman. The next 415 00:21:51,520 --> 00:21:53,959 Speaker 2: piece was him selling his shares in the business. But 416 00:21:54,080 --> 00:21:57,080 Speaker 2: that is a process and that takes time. I Cynthia, 417 00:21:57,280 --> 00:22:00,840 Speaker 2: the hardest thing I've ever done from a business perspective. 418 00:22:01,800 --> 00:22:03,200 Speaker 4: While the Revolt brand. 419 00:22:03,040 --> 00:22:07,600 Speaker 2: Has been is beloved, is appreciated, proof that we're still 420 00:22:07,640 --> 00:22:12,320 Speaker 2: alive today, you know, post all of that crisis. The 421 00:22:12,400 --> 00:22:15,080 Speaker 2: fact that we're loved is proven by the fact that 422 00:22:15,119 --> 00:22:19,359 Speaker 2: we're still alive after going through that crisis. The goal 423 00:22:19,480 --> 00:22:22,359 Speaker 2: was to figure out how to stay black owned, right, 424 00:22:22,880 --> 00:22:25,280 Speaker 2: and that is a very difficult job because what we 425 00:22:25,359 --> 00:22:28,280 Speaker 2: know is that black black businesses in general get like 426 00:22:28,359 --> 00:22:31,080 Speaker 2: one percent of private equity money, one percent of venture 427 00:22:31,080 --> 00:22:33,080 Speaker 2: capital money, right, so there's not a lot of money 428 00:22:33,080 --> 00:22:36,919 Speaker 2: out there for us to pour into our business. You 429 00:22:37,040 --> 00:22:39,440 Speaker 2: also just can't take money from anyone because the money 430 00:22:39,520 --> 00:22:41,760 Speaker 2: has to come from someone who is a person of color. 431 00:22:42,400 --> 00:22:45,879 Speaker 2: And the interesting thing about the wonderful United States of 432 00:22:45,920 --> 00:22:48,439 Speaker 2: America is that when you want to count, when you 433 00:22:48,480 --> 00:22:51,880 Speaker 2: want to know who the white, richest, richest white people 434 00:22:51,960 --> 00:22:54,320 Speaker 2: in America are, you don't know most of them. 435 00:22:54,359 --> 00:22:55,840 Speaker 4: We know many more now. 436 00:22:55,880 --> 00:23:00,400 Speaker 2: The Bezos, the Zuckerberg's, right, so people could probably named 437 00:23:00,400 --> 00:23:04,280 Speaker 2: the first seven after past the first seven, nobody knows 438 00:23:04,280 --> 00:23:08,480 Speaker 2: who they are, right, But in the black world is 439 00:23:08,560 --> 00:23:11,520 Speaker 2: very different because in this country, really the only way 440 00:23:11,560 --> 00:23:13,680 Speaker 2: black people have been able to build wealth is through 441 00:23:14,720 --> 00:23:18,040 Speaker 2: sports or entertainment. So you can name them all. And 442 00:23:18,080 --> 00:23:20,400 Speaker 2: so as you're starting to think about, how do you 443 00:23:20,520 --> 00:23:23,399 Speaker 2: know who's going to buy these shares while keeping us 444 00:23:23,440 --> 00:23:27,720 Speaker 2: black on, you can Oprah, Kevin hart Lebron Like again, 445 00:23:27,760 --> 00:23:29,879 Speaker 2: the list of people is you can name it in 446 00:23:29,920 --> 00:23:33,840 Speaker 2: two minutes, right, And so you know, having conversations with 447 00:23:33,880 --> 00:23:35,680 Speaker 2: all of those people trying to figure out the right 448 00:23:35,720 --> 00:23:37,840 Speaker 2: way to do it, at some point in time it 449 00:23:37,880 --> 00:23:43,080 Speaker 2: became abundantly clear that nobody really needed to save us, 450 00:23:43,160 --> 00:23:45,719 Speaker 2: that we needed to save ourselves, that we needed to 451 00:23:46,080 --> 00:23:47,960 Speaker 2: rely on no one else. I saw this quote the 452 00:23:48,000 --> 00:23:50,479 Speaker 2: other day on TV. It said, never rely on your 453 00:23:50,520 --> 00:23:53,639 Speaker 2: opposition to keep you safe. Always rely on yourself. And 454 00:23:53,680 --> 00:23:56,280 Speaker 2: so I think we seize the moment to rely on 455 00:23:56,320 --> 00:23:59,800 Speaker 2: ourselves and to put the power and the equity and 456 00:23:59,840 --> 00:24:02,879 Speaker 2: the hands of the employee group. And so you know, 457 00:24:02,960 --> 00:24:06,159 Speaker 2: we raised a bit of debt, did essentially what is 458 00:24:06,200 --> 00:24:09,280 Speaker 2: some version of a leverage buyout, and how to say 459 00:24:09,320 --> 00:24:12,000 Speaker 2: that today our employees are the largest shareholder group on 460 00:24:12,040 --> 00:24:15,639 Speaker 2: the cap table. If and when we take this company 461 00:24:15,680 --> 00:24:18,320 Speaker 2: and we exit. We will be creating a lot of 462 00:24:18,359 --> 00:24:21,000 Speaker 2: wealth for people who historically have been left out of 463 00:24:21,040 --> 00:24:23,560 Speaker 2: the wealth creation machine. Right, You're talking about a company 464 00:24:23,560 --> 00:24:27,400 Speaker 2: that is fifty percent women, that is seventy percent multicultural, 465 00:24:27,880 --> 00:24:32,920 Speaker 2: and so a tremendous opportunity to do something really positive 466 00:24:32,960 --> 00:24:36,600 Speaker 2: and shift the algorithm for a lot of families going forward. 467 00:24:36,640 --> 00:24:39,840 Speaker 2: So excited about that opportunity, you know, making it happen 468 00:24:39,880 --> 00:24:41,479 Speaker 2: for the team a Revolt. Part of it is they 469 00:24:41,520 --> 00:24:43,719 Speaker 2: deserved it. This is a team who is given their 470 00:24:43,760 --> 00:24:46,119 Speaker 2: blood swat in tears. This is a team who already 471 00:24:46,480 --> 00:24:49,160 Speaker 2: has it's an identity brand. These are already people who 472 00:24:49,200 --> 00:24:51,359 Speaker 2: love to wear a Revolt on their chest. And so 473 00:24:51,400 --> 00:24:54,000 Speaker 2: what we did was match their behaviors up with the 474 00:24:54,119 --> 00:24:57,439 Speaker 2: economic opportunity that they now have for Revolts. And so 475 00:24:57,640 --> 00:24:58,760 Speaker 2: excited to see where. 476 00:24:58,560 --> 00:24:59,240 Speaker 4: That leads us. 477 00:24:59,600 --> 00:25:01,400 Speaker 3: What's of an operation are you now? 478 00:25:02,359 --> 00:25:03,880 Speaker 2: And you're talking about in terms of number of people, 479 00:25:03,960 --> 00:25:06,560 Speaker 2: number of employees? Yeah, yeah, So the Vault today has 480 00:25:06,600 --> 00:25:08,200 Speaker 2: a little bit over you know, she should think of 481 00:25:08,280 --> 00:25:10,679 Speaker 2: us as a business that's typically around one hundred to 482 00:25:10,720 --> 00:25:14,760 Speaker 2: one hundred and fifty employee base and then probably around 483 00:25:14,800 --> 00:25:17,560 Speaker 2: one hundred. You know what we were maybe maybe people 484 00:25:17,600 --> 00:25:19,320 Speaker 2: you consider more like Parma lancers. 485 00:25:19,520 --> 00:25:22,800 Speaker 3: Yeah, exactly. For production, you go up and down exactly 486 00:25:22,920 --> 00:25:25,399 Speaker 3: exactly that. Do you do most of your production in 487 00:25:25,440 --> 00:25:27,159 Speaker 3: New York or are you all over the place. 488 00:25:27,520 --> 00:25:29,320 Speaker 2: We're a bit all over the place. But where we 489 00:25:29,480 --> 00:25:33,560 Speaker 2: have tried to consolidate production and just anything is in Atlanta. 490 00:25:34,760 --> 00:25:35,760 Speaker 2: You know, we saw early a. 491 00:25:35,800 --> 00:25:37,520 Speaker 3: Lot of talent, obviously hotbed. 492 00:25:37,920 --> 00:25:40,520 Speaker 2: It's a hotbed for talent, it's a hot bed for 493 00:25:40,680 --> 00:25:43,879 Speaker 2: hip hop culture. It is definitely becoming like a black 494 00:25:43,920 --> 00:25:47,400 Speaker 2: Hollywood in terms of film and television and all of that. 495 00:25:47,680 --> 00:25:49,400 Speaker 2: And then when we looked at the data, it's where 496 00:25:49,440 --> 00:25:52,399 Speaker 2: a large portion of our audience was. And so today 497 00:25:52,440 --> 00:25:55,440 Speaker 2: the business is kind of anchored in New York, LA 498 00:25:55,600 --> 00:25:59,120 Speaker 2: and Atlanta. New York's skews atle bit more sales, LA 499 00:25:59,200 --> 00:26:01,720 Speaker 2: skews a bit more or corporate, and then Atlanta is 500 00:26:01,720 --> 00:26:06,280 Speaker 2: what I would say is anytime you want to touch people, production, marketing, events, 501 00:26:06,320 --> 00:26:08,440 Speaker 2: all of those things tend to be kind of concentrated 502 00:26:08,440 --> 00:26:09,200 Speaker 2: in Atlanta. 503 00:26:09,320 --> 00:26:13,040 Speaker 3: For those of us who remember covering the Comcast NBC takeover, 504 00:26:13,200 --> 00:26:15,480 Speaker 3: that was a long that was almost eighteen months of 505 00:26:15,560 --> 00:26:21,320 Speaker 3: regulatory review. The FCC put in a requirement as part 506 00:26:21,320 --> 00:26:24,360 Speaker 3: of them taking over NBC Universal, Comcast had to do 507 00:26:24,400 --> 00:26:27,080 Speaker 3: some things for the public good. And one of those 508 00:26:27,080 --> 00:26:29,400 Speaker 3: things that Comcast had to do in order to buy 509 00:26:29,480 --> 00:26:32,760 Speaker 3: NBC Universal way back in twenty eleven, which seems like 510 00:26:32,800 --> 00:26:35,280 Speaker 3: horse and buggy days compared to the media landscape that 511 00:26:35,280 --> 00:26:37,200 Speaker 3: we're in now, one of the things that they had 512 00:26:37,280 --> 00:26:40,480 Speaker 3: to make on Comcast cable system they had to make 513 00:26:40,600 --> 00:26:44,480 Speaker 3: ten new channels available and eight of them had to 514 00:26:44,520 --> 00:26:49,320 Speaker 3: be owned by had to come from owners of underrepresented backgrounds, 515 00:26:49,320 --> 00:26:53,200 Speaker 3: and that really did create a little mini bonanza. And 516 00:26:53,640 --> 00:26:55,480 Speaker 3: Shawn Combs at the time was one of those that 517 00:26:56,000 --> 00:26:58,920 Speaker 3: put in a proposal and his and it got it 518 00:26:58,840 --> 00:27:02,639 Speaker 3: had got greenlit, and you know, even in twenty eleven, 519 00:27:02,640 --> 00:27:05,880 Speaker 3: twenty twelve, it's it's it's a shame, it's it's sort 520 00:27:05,920 --> 00:27:07,480 Speaker 3: of a shame for the business that it took that 521 00:27:07,720 --> 00:27:11,080 Speaker 3: to get another black owned channel on the air. But 522 00:27:12,920 --> 00:27:15,120 Speaker 3: so let me so with that preamble, let me ask 523 00:27:15,160 --> 00:27:18,400 Speaker 3: you how is your relationship today with Comcasts because they 524 00:27:18,400 --> 00:27:20,040 Speaker 3: were sort of the you know, they were the seed 525 00:27:20,160 --> 00:27:20,439 Speaker 3: for you. 526 00:27:21,240 --> 00:27:23,800 Speaker 2: I'm actually so glad that you asked that question our 527 00:27:23,840 --> 00:27:26,840 Speaker 2: relationship with Comcasts has they Since I have been in 528 00:27:26,880 --> 00:27:28,879 Speaker 2: the seat, probably since the beginning of Revolt, they have 529 00:27:28,920 --> 00:27:31,360 Speaker 2: been phenomenal partners what I can speak to, since I've 530 00:27:31,359 --> 00:27:35,720 Speaker 2: been in the seat, they have been incredible partners. When 531 00:27:35,720 --> 00:27:38,360 Speaker 2: you look at our linear contracts, they are the longest 532 00:27:38,359 --> 00:27:41,240 Speaker 2: linear contracts that we have. You know, we always talk 533 00:27:41,280 --> 00:27:44,280 Speaker 2: about when white America catches the cold, Black America catches 534 00:27:44,320 --> 00:27:46,600 Speaker 2: the flu, and so when those things happen, you see 535 00:27:46,600 --> 00:27:48,400 Speaker 2: our black businesses suffering more. 536 00:27:48,480 --> 00:27:50,080 Speaker 4: You see people giving us. 537 00:27:50,000 --> 00:27:53,399 Speaker 2: Shorter leashes and shorter term times on the opportunities that 538 00:27:53,400 --> 00:27:55,720 Speaker 2: they give us. Comcasts has never done any of that. 539 00:27:56,000 --> 00:27:57,840 Speaker 2: They actually live at the opposite end of that. And 540 00:27:57,880 --> 00:28:01,040 Speaker 2: then not only have they been incredible supporters of our 541 00:28:01,080 --> 00:28:05,600 Speaker 2: linear business, they have been the customer, one of the 542 00:28:05,640 --> 00:28:10,600 Speaker 2: customers that has utilized the Revote ecosystem the most. They 543 00:28:10,680 --> 00:28:12,879 Speaker 2: show up on the advertising side, they show up on 544 00:28:12,920 --> 00:28:15,719 Speaker 2: the insights and research side that you know, we've got 545 00:28:15,760 --> 00:28:18,520 Speaker 2: an incredible agency that does work to drive our media business, 546 00:28:18,720 --> 00:28:21,160 Speaker 2: but also can function as a creative agency just helping 547 00:28:21,200 --> 00:28:24,000 Speaker 2: brands create you know, creative content on their own that's 548 00:28:24,000 --> 00:28:27,840 Speaker 2: not necessarily revolprin they've utilized the whole ecosystem, and so 549 00:28:28,240 --> 00:28:29,800 Speaker 2: I have a lot of love and a lot of 550 00:28:29,800 --> 00:28:33,320 Speaker 2: affinity for the good folks at comcasts. 551 00:28:33,840 --> 00:28:36,480 Speaker 3: What areas of expansion you mentioned sports? I know you 552 00:28:36,600 --> 00:28:39,600 Speaker 3: just brought in a former NFL player, Bill Marshall, has 553 00:28:39,720 --> 00:28:42,000 Speaker 3: been on is on your air and seeing him do 554 00:28:42,080 --> 00:28:44,120 Speaker 3: some shows. What is your vision for. 555 00:28:44,080 --> 00:28:44,840 Speaker 4: What that could be? 556 00:28:45,160 --> 00:28:48,240 Speaker 2: Yeah, this year is the year where we're expanding Revote 557 00:28:48,240 --> 00:28:50,840 Speaker 2: in terms of a couple of key verticals and capabilities. 558 00:28:51,120 --> 00:28:53,320 Speaker 2: From a vertical standpoint, this is going to be the 559 00:28:53,400 --> 00:28:55,400 Speaker 2: year where you see us prop up sports and do 560 00:28:55,480 --> 00:28:57,760 Speaker 2: it in a really big way. I'm expecting that our 561 00:28:57,760 --> 00:29:00,440 Speaker 2: sports vertical will have no less than one hundred hours 562 00:29:00,440 --> 00:29:03,680 Speaker 2: of programming hours associated with it. To your point, Brandon 563 00:29:03,760 --> 00:29:06,000 Speaker 2: Marshall bringing us at least fifty to sixty of them, 564 00:29:06,000 --> 00:29:08,800 Speaker 2: and then we'll probably have another fifty to sixty through 565 00:29:08,840 --> 00:29:11,880 Speaker 2: other programs. We've got some really exciting announcements actually coming 566 00:29:11,920 --> 00:29:15,160 Speaker 2: out with some overall deals that we just signed that'll 567 00:29:15,160 --> 00:29:17,960 Speaker 2: probably come out this month in March. So that's vertical one. 568 00:29:18,040 --> 00:29:21,480 Speaker 2: Vertical number two is gaming for us. It's just important 569 00:29:21,520 --> 00:29:24,560 Speaker 2: to ensure that brands can reach our audience through their 570 00:29:24,640 --> 00:29:27,160 Speaker 2: key passion points. And also you see a lot of 571 00:29:27,200 --> 00:29:29,320 Speaker 2: brands betting on sports and gaming, so it's like a 572 00:29:29,320 --> 00:29:30,120 Speaker 2: perfect marriage. 573 00:29:30,120 --> 00:29:32,240 Speaker 3: So those if I may, when you say gaming, do 574 00:29:32,280 --> 00:29:35,080 Speaker 3: you mean like sports betting or do you mean like 575 00:29:35,200 --> 00:29:35,920 Speaker 3: video games? 576 00:29:36,280 --> 00:29:37,080 Speaker 4: Video games? 577 00:29:37,320 --> 00:29:40,240 Speaker 2: But sports betting for us goes on that sports vertical, 578 00:29:40,400 --> 00:29:42,720 Speaker 2: so don't be surprised if you see. 579 00:29:42,480 --> 00:29:44,760 Speaker 4: That one day as well. 580 00:29:45,480 --> 00:29:48,840 Speaker 2: And then from a capability standpoint, the two places we're 581 00:29:48,840 --> 00:29:52,880 Speaker 2: really focused on expanding this year is programmatic. Historically, or 582 00:29:52,880 --> 00:29:54,720 Speaker 2: since I've been here, no brand has been able to 583 00:29:54,720 --> 00:29:57,160 Speaker 2: buy us programmatically. It was really important that they buy us. 584 00:29:57,240 --> 00:30:00,320 Speaker 3: Oh wow, that's amazing because that is the life blood 585 00:30:00,360 --> 00:30:03,320 Speaker 3: of so much. That says so much. I'm glad you 586 00:30:03,360 --> 00:30:05,440 Speaker 3: mentioned that because that says so much about your revenue 587 00:30:05,440 --> 00:30:09,200 Speaker 3: stream that that you're only now going into programmatic. Wow, 588 00:30:09,440 --> 00:30:10,800 Speaker 3: that's exactly that's exciting. 589 00:30:11,160 --> 00:30:12,280 Speaker 4: It's super exciting. 590 00:30:12,600 --> 00:30:15,400 Speaker 2: And we had to do that because I think a 591 00:30:15,400 --> 00:30:18,760 Speaker 2: lot of people under estimate black owned brands, and it 592 00:30:18,840 --> 00:30:21,160 Speaker 2: was important that people come through the front door so 593 00:30:21,200 --> 00:30:23,520 Speaker 2: they could hear all that we can do to help 594 00:30:23,600 --> 00:30:25,760 Speaker 2: grow their business and drive their business. And if you 595 00:30:25,800 --> 00:30:28,640 Speaker 2: give it to them programmatically, they never get that education, 596 00:30:28,720 --> 00:30:30,960 Speaker 2: they never get informed. And then they could also claim 597 00:30:31,000 --> 00:30:32,840 Speaker 2: that they were buying a black owned media company and 598 00:30:32,880 --> 00:30:34,960 Speaker 2: spending one thousand dollars a year, right, And so we 599 00:30:35,000 --> 00:30:38,200 Speaker 2: wanted to eliminate that. So yes, rolling out programmatic for 600 00:30:38,240 --> 00:30:40,720 Speaker 2: the first time this year. And then the next one 601 00:30:40,800 --> 00:30:42,880 Speaker 2: is you know, you're always trying to figure out you've 602 00:30:42,920 --> 00:30:45,280 Speaker 2: got this audience, how do you connect with them and 603 00:30:45,320 --> 00:30:49,200 Speaker 2: monetize them in very different ways short form, YouTube, audio, 604 00:30:49,520 --> 00:30:52,160 Speaker 2: live events. One of the pieces that we've been missing 605 00:30:53,360 --> 00:30:56,840 Speaker 2: since I've been here is premium content, and so looking 606 00:30:56,880 --> 00:30:59,080 Speaker 2: forward to some announcements over the course of the next 607 00:30:59,160 --> 00:31:01,720 Speaker 2: month to show the world HOWE Revolt is getting ready 608 00:31:01,720 --> 00:31:04,160 Speaker 2: to do premium content in a really big way. 609 00:31:04,680 --> 00:31:06,240 Speaker 3: Can I ask you to be a little more specific. 610 00:31:06,280 --> 00:31:09,800 Speaker 3: Are you talking about like scripted series kind of things. 611 00:31:09,600 --> 00:31:13,479 Speaker 2: Or just a little more high end all of the above, 612 00:31:13,560 --> 00:31:18,160 Speaker 2: but definitely definitely building a capability to do scripted in 613 00:31:18,200 --> 00:31:20,600 Speaker 2: a big way for the first time. But yes, it'll 614 00:31:20,640 --> 00:31:24,400 Speaker 2: also just be higher you know, I wanted you know, 615 00:31:24,520 --> 00:31:27,800 Speaker 2: more elevated expensive work deta. 616 00:31:27,720 --> 00:31:30,880 Speaker 3: YO, tell me about your background what led you into business. 617 00:31:30,880 --> 00:31:34,120 Speaker 3: I know you worked in the in advertising before you 618 00:31:34,560 --> 00:31:36,520 Speaker 3: joined before you joined Revolt. 619 00:31:37,040 --> 00:31:37,360 Speaker 4: Yeah. 620 00:31:37,720 --> 00:31:40,800 Speaker 2: So my background is I went to Duke University for 621 00:31:40,920 --> 00:31:45,800 Speaker 2: undergrad my second semester senior year, took a marketing course 622 00:31:46,320 --> 00:31:48,920 Speaker 2: and fell in love with marketing, and at that point 623 00:31:48,960 --> 00:31:51,400 Speaker 2: in time decided that I wanted to go to business school, 624 00:31:51,880 --> 00:31:55,680 Speaker 2: and so this was two thousand and two two thousand 625 00:31:55,680 --> 00:31:57,880 Speaker 2: and four. I end up going to Stanford Graduate School 626 00:31:57,880 --> 00:32:00,320 Speaker 2: of Business. I did my master's in business as well 627 00:32:00,320 --> 00:32:03,800 Speaker 2: as my massive education. My dream at that time going 628 00:32:03,840 --> 00:32:08,040 Speaker 2: into Stanford was to be a CMO, and so the 629 00:32:08,080 --> 00:32:10,040 Speaker 2: first job that I had at the business school was 630 00:32:10,080 --> 00:32:13,800 Speaker 2: working at Johnson and Johnson doing global marketing, and I 631 00:32:13,920 --> 00:32:16,840 Speaker 2: quickly realized and decided that I maybe didn't want to 632 00:32:16,880 --> 00:32:21,280 Speaker 2: be a CMO, largely driven by the fact that at 633 00:32:21,360 --> 00:32:24,600 Speaker 2: least my experience inside was that the way it felt 634 00:32:24,640 --> 00:32:27,880 Speaker 2: was the advertising agencies were doing all of the fun work, 635 00:32:27,960 --> 00:32:31,400 Speaker 2: ida and etc. And that my job on the inside 636 00:32:31,520 --> 00:32:33,440 Speaker 2: was to be a good filter to get them from 637 00:32:33,480 --> 00:32:35,720 Speaker 2: ten ideas to three ideas. They could then go up 638 00:32:35,760 --> 00:32:38,000 Speaker 2: the chain for one to be chosen. And I wanted 639 00:32:38,040 --> 00:32:39,640 Speaker 2: to be a part of the people who were developing 640 00:32:39,640 --> 00:32:42,800 Speaker 2: the ideation and a strategy whatnot. And so from there 641 00:32:42,840 --> 00:32:45,440 Speaker 2: I go work for my first black owned company, Don Coleman, 642 00:32:45,640 --> 00:32:48,280 Speaker 2: had an incredible company called Global Hue. 643 00:32:48,680 --> 00:32:50,480 Speaker 3: An Advertising Agents. 644 00:32:50,160 --> 00:32:53,760 Speaker 2: Advertising agency exactly. We're the number one multicultural agency in 645 00:32:53,800 --> 00:32:58,040 Speaker 2: the nation. Weren't just doing black, we were doing Black, Latin, 646 00:32:58,240 --> 00:33:01,840 Speaker 2: X and Asian. We flipped that into doing general market. 647 00:33:01,880 --> 00:33:05,480 Speaker 2: I was running the Jeep brand across all ethnicities and 648 00:33:05,520 --> 00:33:08,880 Speaker 2: culture general market included in the US. So had a 649 00:33:08,920 --> 00:33:12,440 Speaker 2: really phenomenal run there, and then started to get tired 650 00:33:12,480 --> 00:33:16,560 Speaker 2: of making advertising commercials because we had just entered into 651 00:33:16,600 --> 00:33:18,680 Speaker 2: a world where no one wanted to watch them. Everybody 652 00:33:18,760 --> 00:33:21,480 Speaker 2: was ignoring them. People were skipping them, fast forwarding through them, 653 00:33:21,760 --> 00:33:24,240 Speaker 2: except when we made them for the Super Bowl. And 654 00:33:24,320 --> 00:33:26,840 Speaker 2: so that led me into the world of media. I 655 00:33:26,880 --> 00:33:31,200 Speaker 2: wanted to create content that people chose to consume versus 656 00:33:31,240 --> 00:33:33,840 Speaker 2: were interrupted with. And so from there I go work 657 00:33:33,880 --> 00:33:37,880 Speaker 2: from for Alt the bred Liggins and Kathy Hughes. There 658 00:33:37,920 --> 00:33:40,880 Speaker 2: I ran their digital division, I Won Digital, built their 659 00:33:40,920 --> 00:33:44,200 Speaker 2: branded content studio that was at TV one as a 660 00:33:44,280 --> 00:33:48,280 Speaker 2: TV one exactly, and built their cross platform, ran their 661 00:33:48,320 --> 00:33:53,760 Speaker 2: cross platform sales team, and then from there transitioned to 662 00:33:53,880 --> 00:33:55,560 Speaker 2: this incredible company. 663 00:33:55,160 --> 00:33:56,360 Speaker 4: Called revolts Well. 664 00:33:56,360 --> 00:33:58,600 Speaker 2: I took everything that I learned, everything I learned from 665 00:33:58,640 --> 00:34:01,080 Speaker 2: Johnson and Johnson and marketing, everything that I learned from 666 00:34:01,080 --> 00:34:04,080 Speaker 2: the creative agency side, everything that I learned from being 667 00:34:04,120 --> 00:34:07,280 Speaker 2: at Urban one, TV one, I one Digital, and am 668 00:34:07,320 --> 00:34:10,040 Speaker 2: now trying to deploy that into this incredible brand that 669 00:34:10,080 --> 00:34:10,319 Speaker 2: we have. 670 00:34:11,000 --> 00:34:14,640 Speaker 1: Here's the first of two bytes from Robert Johnson. Johnson 671 00:34:14,719 --> 00:34:18,040 Speaker 1: is one of the most successful black media entrepreneurs in history. 672 00:34:18,640 --> 00:34:22,319 Speaker 1: He launched Black Entertainment Television as the first black owned 673 00:34:22,400 --> 00:34:25,600 Speaker 1: cable channel in nineteen eighty. He sold it twenty one 674 00:34:25,680 --> 00:34:30,120 Speaker 1: years later to what was then Viacom for three billion. Today, 675 00:34:30,239 --> 00:34:34,160 Speaker 1: he runs the RLJ Company's portfolio, which has a range 676 00:34:34,160 --> 00:34:38,160 Speaker 1: of interests including stakes and hotels, car dealerships, and these 677 00:34:38,200 --> 00:34:42,759 Speaker 1: streaming channels. Here he details the origin story of BET. 678 00:34:43,080 --> 00:34:48,240 Speaker 5: You Gotta Understand that I would at EP, the only 679 00:34:48,560 --> 00:34:53,360 Speaker 5: black cable network, black owned cable network simly owned YEP 680 00:34:53,600 --> 00:34:58,960 Speaker 5: for twenty years, twenty years before TV one came on 681 00:34:59,040 --> 00:35:05,240 Speaker 5: the scene, and the technology platform was cable programming, basic 682 00:35:05,360 --> 00:35:10,480 Speaker 5: cable channels what we call linear channels now basic cable channels, 683 00:35:10,719 --> 00:35:14,960 Speaker 5: but that's was the way it got hurt. If you 684 00:35:15,000 --> 00:35:18,879 Speaker 5: want to be on cable. It was e ep years 685 00:35:18,960 --> 00:35:26,080 Speaker 5: and it was the music video world. Gave access to 686 00:35:26,480 --> 00:35:31,480 Speaker 5: talented artists who eventually became superstars Michael Dex and Dannis 687 00:35:31,600 --> 00:35:39,600 Speaker 5: Decks and Beyonce, all of the recording artists who used 688 00:35:39,600 --> 00:35:45,120 Speaker 5: the video to get their fans focused on buying records 689 00:35:45,120 --> 00:35:51,600 Speaker 5: and takes and CDs there and at all during that time, 690 00:35:52,200 --> 00:35:57,680 Speaker 5: there never emerged a black news network. There were a 691 00:35:57,880 --> 00:36:01,719 Speaker 5: TIMPs at it, yeah, but it never gain traction. So 692 00:36:01,920 --> 00:36:07,600 Speaker 5: you go back and you start asking yourself why, and 693 00:36:08,680 --> 00:36:13,439 Speaker 5: you come down to two three reasons. Two prominent ones 694 00:36:13,640 --> 00:36:19,160 Speaker 5: them number one being access to capital, Yes, access to 695 00:36:20,120 --> 00:36:28,480 Speaker 5: enough money to get to take advantage of the distribution platforms. 696 00:36:28,760 --> 00:36:34,440 Speaker 5: Keep in mind, in black Print, the distribution platform was 697 00:36:34,680 --> 00:36:42,200 Speaker 5: subscription and newsstands, and newsstands were aliens, white on venues, 698 00:36:42,520 --> 00:36:46,520 Speaker 5: you know, some stores, grocery stores and places where you 699 00:36:46,560 --> 00:36:50,080 Speaker 5: can go in and buy. And then of course describers 700 00:36:50,160 --> 00:36:55,040 Speaker 5: to people at home. Radio was airways. You can't get 701 00:36:55,120 --> 00:37:00,959 Speaker 5: to the airways because the SDC had environments of being 702 00:37:01,080 --> 00:37:03,640 Speaker 5: licensed and you didn't have the capital to get line. 703 00:37:03,920 --> 00:37:08,280 Speaker 5: You couldn't get on the radio to provide your content 704 00:37:08,480 --> 00:37:14,719 Speaker 5: and information. Uh. And then came cable and the distribution 705 00:37:15,640 --> 00:37:19,719 Speaker 5: much the same way, you had to have access to 706 00:37:19,719 --> 00:37:24,520 Speaker 5: the capital to get to the technology. PET was delivered 707 00:37:24,560 --> 00:37:27,240 Speaker 5: be a satellite had to go up in this guide 708 00:37:27,320 --> 00:37:32,160 Speaker 5: to a satellite circle in the goat uh in the 709 00:37:32,239 --> 00:37:35,520 Speaker 5: geo state. They orbited around the goat and be fed 710 00:37:35,520 --> 00:37:41,320 Speaker 5: down to cable systems. Again, you have the other issue 711 00:37:41,320 --> 00:37:46,120 Speaker 5: picide capital. It becomes the gatekeepers. With the gatekeepers, they 712 00:37:46,120 --> 00:37:49,440 Speaker 5: were cable box. It's fortunately for me one of the 713 00:37:49,480 --> 00:37:53,400 Speaker 5: gatekeepers with John Malone who decided to put money and 714 00:37:54,320 --> 00:37:59,799 Speaker 5: allow me help me to create PET. So you put 715 00:37:59,840 --> 00:38:04,600 Speaker 5: the whole question of where media is going as you 716 00:38:04,640 --> 00:38:06,600 Speaker 5: got to look at that where it's been yeah, and 717 00:38:06,640 --> 00:38:11,680 Speaker 5: it's been capital flow is access to capital is still critical. 718 00:38:12,200 --> 00:38:16,520 Speaker 5: The distribution systems are still pretty much controlled by the 719 00:38:16,640 --> 00:38:23,840 Speaker 5: dominant majority of distribution owners white business companies, and the 720 00:38:24,160 --> 00:38:31,399 Speaker 5: competitions to generate revenue is the folk that comes had 721 00:38:31,440 --> 00:38:36,920 Speaker 5: to go back to capital because people black or white, brown, 722 00:38:37,200 --> 00:38:43,480 Speaker 5: they watch content and they want compelling content and for 723 00:38:43,520 --> 00:38:48,080 Speaker 5: the most part, compelling content costs money, and in order 724 00:38:48,120 --> 00:38:50,680 Speaker 5: to do that, you've got to have the capital. So 725 00:38:50,840 --> 00:38:56,080 Speaker 5: in the digital world, it's the digital platform of trying 726 00:38:56,120 --> 00:39:02,640 Speaker 5: to build a content attractive out apps for content attract 727 00:39:02,680 --> 00:39:08,360 Speaker 5: the streaming platform to appeal to audiences of all rape 728 00:39:08,520 --> 00:39:13,279 Speaker 5: trees and colors, and African Americans being one of the 729 00:39:13,440 --> 00:39:18,680 Speaker 5: heaviest uses a viewers and uses of content are very 730 00:39:18,800 --> 00:39:23,920 Speaker 5: much attracted to the people who want to generate money 731 00:39:23,960 --> 00:39:27,400 Speaker 5: off of subscription the streaming service of and or the 732 00:39:27,520 --> 00:39:31,200 Speaker 5: advertisers who want to sell products to that audience. So 733 00:39:31,920 --> 00:39:34,640 Speaker 5: the answer to the question is how do you define 734 00:39:34,680 --> 00:39:38,880 Speaker 5: black media? Is it based on its impact, based on 735 00:39:38,960 --> 00:39:44,040 Speaker 5: its ratings? Is it based on its influence in impacting 736 00:39:44,200 --> 00:39:48,279 Speaker 5: black lives or impacting white lives? Because a lot of 737 00:39:48,320 --> 00:39:55,160 Speaker 5: the civil rights movement gained its audience when National Television 738 00:39:55,320 --> 00:39:59,279 Speaker 5: owned you know, white over the CDs and NBC are 739 00:39:59,400 --> 00:40:03,279 Speaker 5: covering you know, the beatings, the hangings, and all of 740 00:40:03,280 --> 00:40:07,440 Speaker 5: that went on doing the rise of the rights movement. 741 00:40:08,320 --> 00:40:13,040 Speaker 5: So to get to where you are today digital one 742 00:40:13,080 --> 00:40:17,440 Speaker 5: thing digital has done for the first part is it 743 00:40:17,480 --> 00:40:22,840 Speaker 5: has eliminated the gatekeepers to a certain extent, but it 744 00:40:23,000 --> 00:40:29,200 Speaker 5: hasn't eliminated to access to capital problem. To become a 745 00:40:29,400 --> 00:40:36,160 Speaker 5: streaming platform, to become a digital platform, a YouTube, TV 746 00:40:37,360 --> 00:40:43,759 Speaker 5: or all of the other platforms that aggregate content and 747 00:40:43,880 --> 00:40:47,399 Speaker 5: put it out there, either on a subscription format or 748 00:40:47,400 --> 00:40:54,480 Speaker 5: on a advertiser combination subscription format. Capital still has to 749 00:40:54,520 --> 00:40:59,640 Speaker 5: be brought to bear right, And then when you start 750 00:40:59,719 --> 00:41:06,640 Speaker 5: looking at the expansion of digital content and distribution, you 751 00:41:06,800 --> 00:41:13,000 Speaker 5: do see a rise in content that may appeal directly 752 00:41:13,239 --> 00:41:18,720 Speaker 5: to the black consumer market. But that happened with beep. 753 00:41:19,640 --> 00:41:24,759 Speaker 5: BD was heavily predominant in showcasing music videos as I 754 00:41:24,800 --> 00:41:34,320 Speaker 5: said earlier, and now with expansion of platforms, the large 755 00:41:35,120 --> 00:41:39,000 Speaker 5: holders of these subscription platforms, the big dominant people who 756 00:41:39,040 --> 00:41:43,160 Speaker 5: now form who are now the gatekeepers, have to make 757 00:41:43,160 --> 00:41:46,480 Speaker 5: a decision or happening because they've made a decision that 758 00:41:47,160 --> 00:41:49,560 Speaker 5: we need to subscribe a dollar much the way it 759 00:41:49,640 --> 00:41:55,600 Speaker 5: cable operating it, and they started putting on programming, compelling programs, 760 00:41:55,600 --> 00:41:58,920 Speaker 5: some of it that appealed to the black audience, which 761 00:41:59,800 --> 00:42:05,480 Speaker 5: as the benefit of creating more black creator or bringing 762 00:42:05,520 --> 00:42:10,360 Speaker 5: about more black creative people. So maybe more black stories 763 00:42:10,400 --> 00:42:14,600 Speaker 5: are being told, but the gatekeepers are still the same 764 00:42:14,719 --> 00:42:18,640 Speaker 5: who decide which if those black stories get told, and 765 00:42:19,400 --> 00:42:23,480 Speaker 5: how much impact are they having of the forty eight 766 00:42:23,560 --> 00:42:26,360 Speaker 5: million Black Americans who live in this country. 767 00:42:27,239 --> 00:42:29,680 Speaker 1: Here I get a chance to ask Johnson the question 768 00:42:29,880 --> 00:42:31,879 Speaker 1: I've wanted to put to him for some time. 769 00:42:32,480 --> 00:42:36,160 Speaker 3: Do you, looking back now, do you have any regrets 770 00:42:36,440 --> 00:42:38,520 Speaker 3: about selling BET when you did. 771 00:42:42,120 --> 00:42:48,239 Speaker 5: Not at all? Because, as I said earlier, BT commanded 772 00:42:48,320 --> 00:42:53,640 Speaker 5: a huge value at the time that some of may 773 00:42:53,800 --> 00:42:57,040 Speaker 5: the offer. But the most important reason why I have 774 00:42:57,120 --> 00:43:00,760 Speaker 5: no regrets is that when I we are at BT, 775 00:43:01,239 --> 00:43:04,600 Speaker 5: I had a partner and a friend who's still a 776 00:43:04,680 --> 00:43:09,640 Speaker 5: partner and a friend, and that John Malone, and I 777 00:43:09,680 --> 00:43:13,839 Speaker 5: owed it to John when he worked with me for 778 00:43:13,960 --> 00:43:17,480 Speaker 5: twenty years. He never sold the share is something people 779 00:43:17,480 --> 00:43:21,279 Speaker 5: should have John along never showed the share, stayed on 780 00:43:21,320 --> 00:43:26,680 Speaker 5: the board as chairman for about eighteen of the twenty years. 781 00:43:26,760 --> 00:43:32,320 Speaker 5: I owed him the highest return on his risk capital 782 00:43:32,400 --> 00:43:35,680 Speaker 5: they put into me as in a staff guy for 783 00:43:35,760 --> 00:43:41,880 Speaker 5: the cable television industry. I owed him the highest return 784 00:43:42,000 --> 00:43:45,719 Speaker 5: he could get for his faith, confidence and capital in me. 785 00:43:46,719 --> 00:43:51,120 Speaker 5: So it didn't bother me at all, because that's the 786 00:43:51,160 --> 00:43:55,200 Speaker 5: way I looked at BT as a business. I did 787 00:43:55,480 --> 00:44:00,680 Speaker 5: look at it as a black hair zoom that should 788 00:44:00,760 --> 00:44:06,360 Speaker 5: remain forever black in terms of its ownership. It couldn't, 789 00:44:07,520 --> 00:44:12,280 Speaker 5: but not with somebody like me who had this feeling 790 00:44:12,320 --> 00:44:18,840 Speaker 5: and belief that a man like said to me, Bob, 791 00:44:20,440 --> 00:44:22,920 Speaker 5: whenever you have a great idea, come out see me 792 00:44:23,000 --> 00:44:25,360 Speaker 5: and I'll be glad to talk to you. And I 793 00:44:25,440 --> 00:44:27,640 Speaker 5: THT did and I went out there and he wrote 794 00:44:27,640 --> 00:44:32,520 Speaker 5: the first check for five hundred thousand dollars in and 795 00:44:33,440 --> 00:44:37,279 Speaker 5: that's the way I looked at it. But it makes 796 00:44:37,280 --> 00:44:43,239 Speaker 5: the same argument without that capital. Without that capital, he 797 00:44:44,080 --> 00:44:48,880 Speaker 5: never would have become almost a four billion dollar exit 798 00:44:49,560 --> 00:44:52,239 Speaker 5: opportunity for me and John Malone. 799 00:44:54,239 --> 00:44:55,280 Speaker 3: Thanks for listening. 800 00:44:55,800 --> 00:44:58,320 Speaker 6: Be sure to leave us a review at Apple Podcasts 801 00:44:58,400 --> 00:45:02,359 Speaker 6: or Amazon Music. We love to hear from listeners. Please 802 00:45:02,400 --> 00:45:04,640 Speaker 6: go to Variety dot com and sign up for the 803 00:45:04,680 --> 00:45:09,479 Speaker 6: free weekly Strictly Business newsletter, and don't forget to tune 804 00:45:09,520 --> 00:45:12,759 Speaker 6: in next week for another episode of Strictly Business