1 00:00:06,559 --> 00:00:09,600 Speaker 1: Welcome to another episode of Strictly Business, the podcast in 2 00:00:09,680 --> 00:00:12,080 Speaker 1: which we talk with some of the brightest minds working 3 00:00:12,080 --> 00:00:16,280 Speaker 1: in media today. I'm Andrew Wallenstein with Variety Intelligence Platform. 4 00:00:16,440 --> 00:00:19,000 Speaker 1: It's a new tier on Variety dot com offering deep 5 00:00:19,079 --> 00:00:22,840 Speaker 1: insights and analytics on media. Please check it out. If 6 00:00:22,880 --> 00:00:26,599 Speaker 1: you're a super fan of imported British TV shows here 7 00:00:26,600 --> 00:00:29,760 Speaker 1: in the US, you've probably heard of brick Box. It's 8 00:00:29,760 --> 00:00:32,960 Speaker 1: a streaming service that super serves UK hits like Vera 9 00:00:33,120 --> 00:00:36,400 Speaker 1: and Hold the Sunset. My guest today is brick Box 10 00:00:36,440 --> 00:00:39,640 Speaker 1: CEO Sonja sree Raman. She is here, or I should 11 00:00:39,640 --> 00:00:42,920 Speaker 1: say virtually here to talk not just about this fascinating 12 00:00:43,000 --> 00:00:46,400 Speaker 1: venture she leads, but the broader streaming and media space, 13 00:00:46,479 --> 00:00:49,280 Speaker 1: a subject I know she has a few thoughts on. 14 00:00:49,960 --> 00:00:52,159 Speaker 1: I should note this is the first episode I've recorded 15 00:00:52,159 --> 00:00:55,160 Speaker 1: from home via zoom, so there's a video recording of 16 00:00:55,240 --> 00:00:58,080 Speaker 1: this conversation available for the first time ever in Strictly 17 00:00:58,160 --> 00:01:01,440 Speaker 1: Business history. Hope to keep the kickups to a minimum, 18 00:01:01,480 --> 00:01:05,000 Speaker 1: so assume, yeah, obviously I'm recording from home. Because we're 19 00:01:05,040 --> 00:01:08,560 Speaker 1: still in the middle of this pandemic. Every business has 20 00:01:08,600 --> 00:01:11,560 Speaker 1: to recalibrate to this new reality in its own way, 21 00:01:11,600 --> 00:01:13,600 Speaker 1: and so I'd love to hear from you how brit 22 00:01:13,600 --> 00:01:17,959 Speaker 1: Box in particular has had to adjust. Um. Of course, Andrew, 23 00:01:18,120 --> 00:01:21,720 Speaker 1: thank you for having me. And I have to say, 24 00:01:22,000 --> 00:01:24,600 Speaker 1: like all the zoom calls that I do every single day, 25 00:01:24,640 --> 00:01:27,800 Speaker 1: whether it's two people in London or Australia or l A, 26 00:01:28,840 --> 00:01:30,960 Speaker 1: this is this is one of my favorites because it's 27 00:01:31,000 --> 00:01:33,160 Speaker 1: one of my favorite things to talk about brit Box 28 00:01:34,200 --> 00:01:37,520 Speaker 1: and and the business. And of course it's that time 29 00:01:38,480 --> 00:01:42,640 Speaker 1: of the afternoon that I have my tea handy and amos, 30 00:01:42,959 --> 00:01:49,640 Speaker 1: has God saved the Queen? On brand? Always on brand? Actually, 31 00:01:49,680 --> 00:01:51,720 Speaker 1: I should say, as someone sat to me before, where's 32 00:01:51,760 --> 00:01:54,080 Speaker 1: your brit Box stuff? There's my bret Box water cup 33 00:01:54,080 --> 00:01:57,000 Speaker 1: as well. You do that one more time, I'll have 34 00:01:57,040 --> 00:01:59,200 Speaker 1: to charge you for it, but for now let's go. 35 00:02:01,320 --> 00:02:04,480 Speaker 1: It is Look, we um, I think we're living in 36 00:02:04,480 --> 00:02:08,600 Speaker 1: in interesting times. Here. I am in midtown Manhattan, locked 37 00:02:08,639 --> 00:02:12,080 Speaker 1: away in my apartment and it's weeks I think, man 38 00:02:12,160 --> 00:02:15,280 Speaker 1: me a week seven. But you know what, fabulously it's 39 00:02:15,320 --> 00:02:19,919 Speaker 1: also been week seven of fantastic growth from bread Box. 40 00:02:20,320 --> 00:02:22,560 Speaker 1: Is that because more people are at home than ever. 41 00:02:23,160 --> 00:02:25,880 Speaker 1: I mean, it's so I would see the market conditions 42 00:02:25,880 --> 00:02:30,519 Speaker 1: are conducive to lots of different streaming services. Absolutely. I mean, look, 43 00:02:30,520 --> 00:02:32,839 Speaker 1: there's there's not a not a day or a week 44 00:02:32,880 --> 00:02:36,080 Speaker 1: that goes by that someone isn't telling you. Pluto streaming 45 00:02:36,200 --> 00:02:40,600 Speaker 1: is up x. Netflix subscribers are up y right, and 46 00:02:40,639 --> 00:02:44,080 Speaker 1: we are we are equally fortunate to be on the 47 00:02:44,120 --> 00:02:48,760 Speaker 1: receiving end of of those lessons. Look, it's not this 48 00:02:48,840 --> 00:02:51,880 Speaker 1: is not to say that you know, these times are 49 00:02:51,880 --> 00:02:54,200 Speaker 1: not tough for a lot of people, and we're not 50 00:02:54,520 --> 00:02:58,680 Speaker 1: cognizant of that um. But of course the side is 51 00:02:59,040 --> 00:03:02,040 Speaker 1: people do have more time them in their hands. I 52 00:03:02,080 --> 00:03:04,639 Speaker 1: have more times to be to be complaining about the 53 00:03:04,680 --> 00:03:08,200 Speaker 1: fact that the episode image on britt Box for Linley 54 00:03:08,480 --> 00:03:11,840 Speaker 1: Season four, episode two doesn't match what I thought it 55 00:03:11,840 --> 00:03:18,960 Speaker 1: should be attention to detail. So, last I've heard you 56 00:03:18,960 --> 00:03:22,200 Speaker 1: guys had reached one million subscribers. You've been in the 57 00:03:22,280 --> 00:03:25,480 Speaker 1: US market for several years, you're now expanding back to 58 00:03:25,520 --> 00:03:28,800 Speaker 1: the UK and we should say brit Box is a 59 00:03:28,880 --> 00:03:32,600 Speaker 1: joint venture between the leading British broadcasters. So what does 60 00:03:32,639 --> 00:03:38,120 Speaker 1: that bring I assume not just great programming. I should 61 00:03:38,160 --> 00:03:40,720 Speaker 1: probably very quickly. I think you set up britt Box 62 00:03:40,760 --> 00:03:43,360 Speaker 1: really nicely, but I think it's probably useful to just 63 00:03:43,400 --> 00:03:45,240 Speaker 1: give you a little bit of history for Bret Box. 64 00:03:45,240 --> 00:03:48,000 Speaker 1: What do you think you think? Sure, just I'll do. 65 00:03:48,160 --> 00:03:51,440 Speaker 1: I'll do a very very quick um. Bret Boxes streaming 66 00:03:51,520 --> 00:03:55,520 Speaker 1: video on demand services you laid out available today in US, 67 00:03:55,640 --> 00:04:02,560 Speaker 1: Canada and UK. We just announced austral Elia and the 68 00:04:02,560 --> 00:04:05,840 Speaker 1: response has been fantastic. Where joint venture between BBC and 69 00:04:05,840 --> 00:04:12,200 Speaker 1: i TV, both incredible legacy broadcasting brands in the UK. 70 00:04:13,080 --> 00:04:16,120 Speaker 1: BBCs I think nearly a hundred year old company and 71 00:04:16,240 --> 00:04:20,120 Speaker 1: practically a household name. I think everyone is familiar and 72 00:04:20,200 --> 00:04:26,120 Speaker 1: most people will probably do to do things fairly readily. 73 00:04:27,000 --> 00:04:30,280 Speaker 1: You say BBC and they'll say News and equally they'll 74 00:04:30,279 --> 00:04:34,919 Speaker 1: stay down to Nabbey. So you will find that if 75 00:04:34,960 --> 00:04:37,839 Speaker 1: if it is a British show and it's got costumes, 76 00:04:37,839 --> 00:04:43,080 Speaker 1: it must be the BBC, and so you get great programming. 77 00:04:44,000 --> 00:04:46,520 Speaker 1: What else do you need to stand out? Though? In 78 00:04:46,600 --> 00:04:50,240 Speaker 1: such a crowded marketplace, because there's these massive services like 79 00:04:50,320 --> 00:04:53,279 Speaker 1: Netflix and Amazon, and then there's dozens and dozens of 80 00:04:53,279 --> 00:04:58,039 Speaker 1: other niche players, that's probably not the easiest competitive field 81 00:04:58,040 --> 00:05:04,040 Speaker 1: to deal with. Um No, sure not. However, I love 82 00:05:04,120 --> 00:05:08,040 Speaker 1: your your presentation from a few months ago when I 83 00:05:08,080 --> 00:05:12,200 Speaker 1: first became acquainted with you, and I like looking at 84 00:05:12,200 --> 00:05:19,880 Speaker 1: that and I went fascinating Stars, which is uh, I mean, well, 85 00:05:20,000 --> 00:05:23,839 Speaker 1: practically a mega household name in the US, you know 86 00:05:23,880 --> 00:05:26,480 Speaker 1: what level stubs they're at, or CBS for that matter, 87 00:05:26,680 --> 00:05:30,000 Speaker 1: combined with the showtime. So we are very fortunate to 88 00:05:30,160 --> 00:05:32,960 Speaker 1: be at the at the receiving end of what I 89 00:05:33,000 --> 00:05:38,120 Speaker 1: think is a very loyal customer base. We um. I'm 90 00:05:38,120 --> 00:05:43,560 Speaker 1: a big believer that streaming services um survive and thrive 91 00:05:44,480 --> 00:05:46,400 Speaker 1: on on a few different things. And I have my 92 00:05:46,520 --> 00:05:50,240 Speaker 1: rule of threes because it turns out that my scatterbrain 93 00:05:50,279 --> 00:05:53,479 Speaker 1: can only process three things at one time. So I 94 00:05:53,560 --> 00:05:56,440 Speaker 1: call everything down to the rule of threes. And my 95 00:05:56,520 --> 00:06:01,920 Speaker 1: rule of threes for this is the perfect amalgamation of technology, 96 00:06:02,279 --> 00:06:06,760 Speaker 1: data and content. Okay, these three things have to come 97 00:06:06,760 --> 00:06:11,279 Speaker 1: together in the right mish mash to make streaming work. 98 00:06:11,800 --> 00:06:14,360 Speaker 1: And I think that we were at about the time 99 00:06:14,400 --> 00:06:21,640 Speaker 1: that we were considering launching bret Box, technology became more commoditized. Okay, 100 00:06:21,960 --> 00:06:23,720 Speaker 1: it wasn't. It wasn't a thing that you had to 101 00:06:23,760 --> 00:06:25,279 Speaker 1: build your own o VP and you to build your 102 00:06:25,279 --> 00:06:27,320 Speaker 1: own CMS, and you have to make sure that you're 103 00:06:27,360 --> 00:06:31,120 Speaker 1: setting up your own drms. There are so many tools 104 00:06:31,160 --> 00:06:37,080 Speaker 1: available now. Equally, BBC has built one of the best 105 00:06:37,640 --> 00:06:42,320 Speaker 1: streaming platforms in the I Player that we were fortunate 106 00:06:42,360 --> 00:06:44,920 Speaker 1: to be able to sort of plug into. So you've 107 00:06:44,920 --> 00:06:47,600 Speaker 1: got great infrastructure. But I want to key in on 108 00:06:47,640 --> 00:06:51,400 Speaker 1: this competition question. There's only so many consumer dollars to 109 00:06:51,440 --> 00:06:54,000 Speaker 1: go around, and we should point out you guys in 110 00:06:54,040 --> 00:06:59,160 Speaker 1: the US are not the only provider of imported British programming. 111 00:06:59,200 --> 00:07:03,280 Speaker 1: There's the eight corn in service. So again the competitive field, 112 00:07:03,360 --> 00:07:07,600 Speaker 1: how do you deal with so much UM? I think 113 00:07:07,680 --> 00:07:10,800 Speaker 1: very simply by staying focused on what we do. UM. 114 00:07:10,840 --> 00:07:13,720 Speaker 1: You bring up Acorn and I would say, gosh, the 115 00:07:13,760 --> 00:07:16,640 Speaker 1: math is very simple, and my programming team studies this 116 00:07:16,800 --> 00:07:19,960 Speaker 1: every day. We have more than double the shows they do. 117 00:07:20,200 --> 00:07:25,680 Speaker 1: We're exclusively British. They're not, UM. We are. We have 118 00:07:25,880 --> 00:07:29,080 Speaker 1: access to a pipeline from the UK that allows us 119 00:07:29,120 --> 00:07:32,000 Speaker 1: to stand out. We have my My second rule of 120 00:07:32,000 --> 00:07:36,119 Speaker 1: of threes is the right combination of known, now and new, 121 00:07:36,640 --> 00:07:38,520 Speaker 1: and that is you need to have the right combination 122 00:07:38,560 --> 00:07:42,760 Speaker 1: of known shows combined with the now. Right. This, I 123 00:07:42,800 --> 00:07:46,240 Speaker 1: think is is a magic potion that we are able 124 00:07:46,240 --> 00:07:48,040 Speaker 1: to bring because we're able to plug right back into 125 00:07:48,080 --> 00:07:51,280 Speaker 1: the UK and say, watch your soaps in a day 126 00:07:51,320 --> 00:07:55,240 Speaker 1: and date manner and near life sometimes live, depending on 127 00:07:55,320 --> 00:07:58,520 Speaker 1: what the rights allow us to do. Whether it's your 128 00:07:58,640 --> 00:08:01,880 Speaker 1: morning morning tele vision from the UK that's aired to 129 00:08:01,920 --> 00:08:07,840 Speaker 1: you in UM in you in US morning time, someone 130 00:08:07,880 --> 00:08:09,720 Speaker 1: has to edit out the things because of course you 131 00:08:09,720 --> 00:08:11,600 Speaker 1: don't want to have to see just like you would 132 00:08:11,640 --> 00:08:13,960 Speaker 1: have we here Good Morning America. Are some of the 133 00:08:13,960 --> 00:08:15,760 Speaker 1: same segments in the eight o'clock hour that they do 134 00:08:15,800 --> 00:08:18,520 Speaker 1: in the seven oclock hour they do the same. And 135 00:08:18,600 --> 00:08:20,880 Speaker 1: our thing was we're not going to be airing it live, 136 00:08:21,000 --> 00:08:24,560 Speaker 1: so edit out those segments and then remove the things 137 00:08:24,600 --> 00:08:27,160 Speaker 1: that might not be cleared, so we get delivered something 138 00:08:27,320 --> 00:08:31,080 Speaker 1: almost as if, almost as it finishes airing. And we 139 00:08:31,200 --> 00:08:33,520 Speaker 1: do that on a on a day and day basis, 140 00:08:33,559 --> 00:08:36,280 Speaker 1: and several other shows, and then, of course, I think 141 00:08:36,320 --> 00:08:39,120 Speaker 1: the other thing that's important is the new shows. So 142 00:08:39,280 --> 00:08:44,160 Speaker 1: that's our alliterative known now and new formula that we use, 143 00:08:44,360 --> 00:08:46,760 Speaker 1: which I think allows us to stand out that I 144 00:08:46,800 --> 00:08:50,760 Speaker 1: don't know that UM everyone does some combination of known 145 00:08:50,760 --> 00:08:53,280 Speaker 1: and new. I don't know how many people are doing now, 146 00:08:55,040 --> 00:08:58,120 Speaker 1: you guys are also going to be moving into original content, 147 00:08:58,240 --> 00:09:01,199 Speaker 1: which is interesting. It's a real sign a match ration. 148 00:09:01,559 --> 00:09:06,960 Speaker 1: It's expensive, it can be risky. Uh what decided? What? 149 00:09:06,960 --> 00:09:11,080 Speaker 1: What prompted you to go that route? We we've actually 150 00:09:12,480 --> 00:09:16,800 Speaker 1: dabbled in originals. Um, we did. I think our first 151 00:09:16,920 --> 00:09:23,640 Speaker 1: original was Blatchley Circle in July. Especially Supper is a 152 00:09:23,720 --> 00:09:27,400 Speaker 1: show that I am. I'm a personal fan of and 153 00:09:27,440 --> 00:09:30,280 Speaker 1: when the show was canceled, I had seen a script 154 00:09:30,360 --> 00:09:34,160 Speaker 1: floating around actually pre my bread Box days, and it 155 00:09:34,240 --> 00:09:36,840 Speaker 1: was one that I just kept coming back to. And 156 00:09:36,880 --> 00:09:39,240 Speaker 1: this was the perfect opportunity for us to commission that. 157 00:09:39,880 --> 00:09:42,000 Speaker 1: And we were able to partner with I TV and 158 00:09:42,040 --> 00:09:43,640 Speaker 1: go back to them and say, hey, look, I know 159 00:09:43,760 --> 00:09:46,400 Speaker 1: you guys decided that it was time to move on 160 00:09:46,520 --> 00:09:49,839 Speaker 1: from that series. We want to do this one more thing, 161 00:09:50,000 --> 00:09:53,640 Speaker 1: help us bring this show back on. And we did. 162 00:09:53,720 --> 00:09:56,360 Speaker 1: We worked together and we were very practively done that. 163 00:09:57,120 --> 00:09:59,600 Speaker 1: Um that year, we did a few other things. We did. 164 00:09:59,720 --> 00:10:03,040 Speaker 1: We did a series of shorts called Wet Talks. Um. 165 00:10:03,120 --> 00:10:05,320 Speaker 1: We have a slow TV format that I think we're 166 00:10:05,320 --> 00:10:10,040 Speaker 1: calling luminous luminous London or luminous lights. So the idea 167 00:10:10,120 --> 00:10:15,680 Speaker 1: is it's it's different facets of the UK in the 168 00:10:15,720 --> 00:10:20,439 Speaker 1: holiday times? Well, is it worth the money though, because 169 00:10:20,520 --> 00:10:25,400 Speaker 1: some streaming services subsist on library programming alone, is it 170 00:10:25,400 --> 00:10:29,560 Speaker 1: worth the cost? Are you finding? You know? I I 171 00:10:29,600 --> 00:10:33,280 Speaker 1: tell my programming team that we're fortunate in that we've 172 00:10:33,520 --> 00:10:37,079 Speaker 1: we have access to such great new shows that we 173 00:10:37,120 --> 00:10:40,439 Speaker 1: can license. You have to really think about what additional 174 00:10:40,520 --> 00:10:43,120 Speaker 1: value are you're bringing when you commission something or you're 175 00:10:43,120 --> 00:10:47,440 Speaker 1: bringing in your original It's so and we do it 176 00:10:47,600 --> 00:10:52,000 Speaker 1: almost as if by by discipline of saying, this is 177 00:10:52,040 --> 00:10:54,559 Speaker 1: something that we think either adds to what it is 178 00:10:54,600 --> 00:10:59,040 Speaker 1: that we already have or brings a new facet that 179 00:10:59,160 --> 00:11:02,280 Speaker 1: we think is important to bring right now to our audiences. 180 00:11:03,080 --> 00:11:06,000 Speaker 1: Right because we were constantly studying the different kinds of 181 00:11:06,040 --> 00:11:09,199 Speaker 1: British shows that we know is coming in the pipeline 182 00:11:09,520 --> 00:11:12,839 Speaker 1: as well as it's out in the marketplace, and in 183 00:11:12,920 --> 00:11:15,520 Speaker 1: my programming team, we'll look at that and say we 184 00:11:15,600 --> 00:11:17,199 Speaker 1: really think that this is a show we should be 185 00:11:17,200 --> 00:11:21,800 Speaker 1: looking a commissioning or at least developing. And so I'm 186 00:11:21,840 --> 00:11:27,200 Speaker 1: also curious, you know, given where you are right now, 187 00:11:27,400 --> 00:11:31,800 Speaker 1: how price sensitive do you feel the marketplaces? How much 188 00:11:31,840 --> 00:11:35,240 Speaker 1: is brick Box out there for and are their fears 189 00:11:35,280 --> 00:11:39,440 Speaker 1: that if we certainly go towards a recession here in 190 00:11:39,440 --> 00:11:42,440 Speaker 1: the US perhaps and some of your other markets, you know, 191 00:11:42,559 --> 00:11:45,959 Speaker 1: are you someone who's going to be a core product 192 00:11:46,240 --> 00:11:51,480 Speaker 1: for a more cost conscious consumer. I'm um, you know, 193 00:11:51,679 --> 00:11:56,720 Speaker 1: I actually think that we will probably bear this, and 194 00:11:56,800 --> 00:12:01,960 Speaker 1: probably better than others. I have a theory that in 195 00:12:01,960 --> 00:12:04,000 Speaker 1: in a time that we're about to get into. Where 196 00:12:04,280 --> 00:12:08,400 Speaker 1: As you you rightfully said, the markets very crowded, Um, 197 00:12:08,640 --> 00:12:11,880 Speaker 1: I think that we are staying focused on what we 198 00:12:11,960 --> 00:12:14,839 Speaker 1: are and I'm not saying that we're going to have 199 00:12:15,200 --> 00:12:19,839 Speaker 1: um an audience the size of Netflix anytime soon, right 200 00:12:20,440 --> 00:12:22,880 Speaker 1: and nor is that our ambition. However, we think that 201 00:12:22,920 --> 00:12:26,800 Speaker 1: the audience that will come to us will stay loyal. 202 00:12:26,960 --> 00:12:30,320 Speaker 1: All our metrics today point to that. Our metrics today 203 00:12:30,320 --> 00:12:33,520 Speaker 1: when we look at conversion from free trial, when we 204 00:12:33,559 --> 00:12:36,280 Speaker 1: look at churn, when we look at engagement, when we 205 00:12:36,320 --> 00:12:39,320 Speaker 1: look at the number of hours and how regularly people 206 00:12:39,360 --> 00:12:41,160 Speaker 1: come back to us in the percent of people that 207 00:12:41,240 --> 00:12:44,959 Speaker 1: watch brick Box on a regular basis, you know, and 208 00:12:45,520 --> 00:12:47,800 Speaker 1: I absolutely expected to change in it because I assume 209 00:12:47,880 --> 00:12:51,640 Speaker 1: that the COVID viewer was a different viewer. So, yeah, 210 00:12:51,679 --> 00:12:54,199 Speaker 1: you're getting this new influx of people who you might 211 00:12:54,240 --> 00:12:56,680 Speaker 1: not have otherwise gotten to check things out because they're 212 00:12:56,679 --> 00:13:00,319 Speaker 1: watching so much streaming, so much TV. But here's the 213 00:13:00,320 --> 00:13:02,800 Speaker 1: thing I want to ask, because I like my share 214 00:13:02,800 --> 00:13:05,240 Speaker 1: of British shows, but I wouldn't call myself a fan 215 00:13:05,360 --> 00:13:10,439 Speaker 1: of British TV, Like, so, how many people out there 216 00:13:10,480 --> 00:13:14,520 Speaker 1: are these sort of target super fans for you? I mean, 217 00:13:14,520 --> 00:13:16,560 Speaker 1: you've already got a million subs, and I have to 218 00:13:16,600 --> 00:13:20,600 Speaker 1: wonder how many more out there are there. Our research, 219 00:13:20,720 --> 00:13:24,960 Speaker 1: fascinatingly from five years ago, said you're gonna cap in 220 00:13:26,160 --> 00:13:32,120 Speaker 1: in the low single digit millions. H and um, fascinatingly, 221 00:13:32,120 --> 00:13:34,520 Speaker 1: what I think has happened since then? I like to say, 222 00:13:34,679 --> 00:13:39,600 Speaker 1: Crown happened, Fleabag happened, and suddenly there's a lot more 223 00:13:39,640 --> 00:13:43,600 Speaker 1: people that are interested in seeking out more of these 224 00:13:43,640 --> 00:13:47,080 Speaker 1: kinds of shows. They don't necessarily just the Crown, but 225 00:13:47,120 --> 00:13:50,439 Speaker 1: they were like, okay, there must be more and c 226 00:13:51,000 --> 00:13:54,760 Speaker 1: VC them coming. And is there? Um? Is there a 227 00:13:54,800 --> 00:13:57,640 Speaker 1: spectrum of British viewers? Of course there is, right, like 228 00:13:57,720 --> 00:14:01,760 Speaker 1: no differently than I'll bet there's a Tromoved Tiger King viewers. 229 00:14:03,400 --> 00:14:07,000 Speaker 1: And I think that UM I think that people will 230 00:14:07,120 --> 00:14:09,800 Speaker 1: I have UM. We also we also talk a lot 231 00:14:09,840 --> 00:14:14,679 Speaker 1: internally about the different mood states or needs state that 232 00:14:14,760 --> 00:14:17,160 Speaker 1: people have. Right, there's the person that wants to be 233 00:14:17,200 --> 00:14:20,680 Speaker 1: in the know, and then there's the person that is 234 00:14:20,720 --> 00:14:26,880 Speaker 1: coming to something for escape us viewing and or comfort viewing. Okay, 235 00:14:27,000 --> 00:14:29,760 Speaker 1: we can fill every one of those needs depending on 236 00:14:29,880 --> 00:14:33,160 Speaker 1: what it is that you're willing to to live with 237 00:14:35,840 --> 00:14:40,440 Speaker 1: m HM and and so I'm curious when you look globally. 238 00:14:40,480 --> 00:14:42,480 Speaker 1: You mentioned, you know, you've just got into the UK, 239 00:14:42,680 --> 00:14:46,280 Speaker 1: you just got into Australia. How big a global market 240 00:14:46,400 --> 00:14:48,840 Speaker 1: is there? Are we talking about a brick box that 241 00:14:48,960 --> 00:14:52,000 Speaker 1: one day could be you know, north of ten million 242 00:14:52,040 --> 00:14:58,240 Speaker 1: subscribers UM fingers crossed, I sure hope. So it's the 243 00:14:58,320 --> 00:15:06,120 Speaker 1: reality is our UM our shareholder parents have have vested 244 00:15:06,520 --> 00:15:10,800 Speaker 1: interests and businesses all around the world. Right, there's BBC 245 00:15:11,000 --> 00:15:14,480 Speaker 1: channels everywhere, there's a TV channels. There's sales businesses as 246 00:15:14,520 --> 00:15:19,720 Speaker 1: co production partners, British British drama is hot. You know this. 247 00:15:20,600 --> 00:15:24,920 Speaker 1: There's broadcasters from all around the globe that are that 248 00:15:25,000 --> 00:15:30,040 Speaker 1: are seeking out co productions and or licenses. And we 249 00:15:30,120 --> 00:15:33,640 Speaker 1: have to look thoughtfully at who are we going to displace? When, 250 00:15:33,840 --> 00:15:39,000 Speaker 1: why and how? Okay, Well, you know the thing is, 251 00:15:39,080 --> 00:15:41,240 Speaker 1: we've we've talked a bit about Netflix, and I think 252 00:15:41,240 --> 00:15:44,400 Speaker 1: to some degree, Netflix has helped you because I think 253 00:15:44,440 --> 00:15:47,280 Speaker 1: they've sort of globalized the market for a bunch of 254 00:15:47,280 --> 00:15:51,000 Speaker 1: British shows. But on the other hand, I gotta wonder 255 00:15:51,040 --> 00:15:53,360 Speaker 1: whether the Netflix is of the world could hurt you 256 00:15:53,600 --> 00:15:57,240 Speaker 1: because even though you're sort of this niche player that 257 00:15:57,480 --> 00:16:00,120 Speaker 1: doesn't quite go toe to toe with, you know, the 258 00:16:00,160 --> 00:16:04,800 Speaker 1: big boys like Netflix. You know what happens if Netflix, Amazon, Hulu, 259 00:16:04,880 --> 00:16:07,840 Speaker 1: these big players start to buy up all of the 260 00:16:07,960 --> 00:16:11,240 Speaker 1: kind of content that's in the niches. Because I've seen 261 00:16:11,320 --> 00:16:14,640 Speaker 1: that play out in other dynamics and anime for instance, 262 00:16:14,880 --> 00:16:18,440 Speaker 1: it feels like what was one's niche suddenly became something 263 00:16:18,560 --> 00:16:22,160 Speaker 1: that the broad the broadcasters of the streaming world got 264 00:16:22,200 --> 00:16:26,240 Speaker 1: involved in. You know they did, you know they did, 265 00:16:26,280 --> 00:16:29,560 Speaker 1: and they will and they will continue too. And every 266 00:16:29,560 --> 00:16:34,280 Speaker 1: single day we're making strategic decisions about what what is 267 00:16:34,320 --> 00:16:37,280 Speaker 1: our position in that? And I have a I have 268 00:16:37,440 --> 00:16:40,480 Speaker 1: a mantra, which is it's fine for it to be 269 00:16:40,520 --> 00:16:43,560 Speaker 1: famous elsewhere as long as we know that it's all 270 00:16:43,600 --> 00:16:46,640 Speaker 1: going to come back home. And do you have like 271 00:16:46,640 --> 00:16:50,280 Speaker 1: any sort of guarantees from your owners that you know, 272 00:16:50,560 --> 00:16:55,040 Speaker 1: exclusive holds on their content or does their content go 273 00:16:55,120 --> 00:16:58,760 Speaker 1: to the highest bidder. Now, they their obligation absolutely is 274 00:16:58,800 --> 00:17:04,080 Speaker 1: to find the best partner for that show, right, and 275 00:17:04,119 --> 00:17:06,679 Speaker 1: they have an obligation back to the producers. So we 276 00:17:06,760 --> 00:17:11,560 Speaker 1: are absolutely dealing at arms length with the distributors and 277 00:17:11,680 --> 00:17:18,520 Speaker 1: the sales groups within the parents, right. But equally they 278 00:17:18,560 --> 00:17:21,480 Speaker 1: have an obligation to do right by us. And we 279 00:17:21,600 --> 00:17:26,800 Speaker 1: have um conversations about what is that strategic interest? Do 280 00:17:26,840 --> 00:17:30,600 Speaker 1: we need to come in very early right? What um, 281 00:17:30,640 --> 00:17:33,800 Speaker 1: what privileges should be be entitled to or not? But 282 00:17:33,840 --> 00:17:35,679 Speaker 1: as I said today, the way we operate as it's 283 00:17:35,960 --> 00:17:39,439 Speaker 1: at arms length. We are very fortunate that we have 284 00:17:39,680 --> 00:17:43,680 Speaker 1: access to at least the pipeline in terms of commissioning 285 00:17:44,240 --> 00:17:48,880 Speaker 1: and the broadcast schedules, right that we we have some 286 00:17:49,000 --> 00:17:53,240 Speaker 1: awareness in too. So you've been with britt Box since 287 00:17:53,320 --> 00:17:58,960 Speaker 1: the beginning. Uh, how has the experience of leading this 288 00:17:59,080 --> 00:18:04,160 Speaker 1: company uh met or defied your expectations? Certainly there must 289 00:18:04,200 --> 00:18:08,720 Speaker 1: have been some surprises along the way. Uh yeah for her. Look, 290 00:18:08,800 --> 00:18:11,720 Speaker 1: this is another fascinating story because I will tell you that. 291 00:18:11,800 --> 00:18:13,520 Speaker 1: Every single time I would look at the numbers and 292 00:18:13,560 --> 00:18:15,720 Speaker 1: I'd be like, okay, so this is it. Right, we 293 00:18:15,760 --> 00:18:18,680 Speaker 1: had our we had a royal wedding bump, We're done. 294 00:18:19,520 --> 00:18:22,200 Speaker 1: Oh you know that promotion we ran, that's it. Okay, 295 00:18:22,240 --> 00:18:24,360 Speaker 1: Now there's lots more people that are going to churn out, 296 00:18:25,160 --> 00:18:27,240 Speaker 1: so we need to be much more careful in how 297 00:18:27,320 --> 00:18:31,200 Speaker 1: we're operating in the next six months. It has defied me, 298 00:18:31,480 --> 00:18:35,159 Speaker 1: and I've been I've been very fortunate that me and 299 00:18:35,200 --> 00:18:38,000 Speaker 1: my team have been able to leverage all of this right. 300 00:18:38,040 --> 00:18:40,680 Speaker 1: Like I was telling someone on my team recently that 301 00:18:41,040 --> 00:18:44,840 Speaker 1: the fabulous thing about our business has been ten people 302 00:18:44,880 --> 00:18:48,000 Speaker 1: come in, they tell ten more, those ten tell ten more, 303 00:18:48,320 --> 00:18:50,200 Speaker 1: and maybe the next ten will only tell eight more, 304 00:18:50,280 --> 00:18:53,000 Speaker 1: and maybe those next eight only tell But it's the 305 00:18:53,280 --> 00:18:59,199 Speaker 1: it's the effect of exponential multiplication, which is, you know, 306 00:18:59,200 --> 00:19:03,120 Speaker 1: when we were younger, was was a difficult math exercise 307 00:19:04,600 --> 00:19:08,520 Speaker 1: has now turned into hand to something something really nice 308 00:19:08,560 --> 00:19:11,600 Speaker 1: for us. We um We struggle every single day, as 309 00:19:11,600 --> 00:19:14,639 Speaker 1: I said, with whether it's data right, whether it's the 310 00:19:14,680 --> 00:19:17,720 Speaker 1: fact that you have attribution data that doesn't necessarily connect 311 00:19:17,760 --> 00:19:20,920 Speaker 1: the way it should in a minute, that IP address 312 00:19:21,160 --> 00:19:24,159 Speaker 1: showed up five times. You know that's a mistake. Now, 313 00:19:24,280 --> 00:19:26,160 Speaker 1: granted him not We're not looking at that level. But 314 00:19:26,240 --> 00:19:30,160 Speaker 1: you know there's some system that that pumps it out right, Well, 315 00:19:30,200 --> 00:19:33,679 Speaker 1: it's the fact that, gosh, today's content didn't deliver because 316 00:19:33,800 --> 00:19:38,560 Speaker 1: guess what, even though the BBC transcoded it, somehow our 317 00:19:38,600 --> 00:19:42,960 Speaker 1: system kicked out in an error. There is every every 318 00:19:42,960 --> 00:19:45,480 Speaker 1: problem that you can think of would happened, would happen, 319 00:19:45,680 --> 00:19:48,320 Speaker 1: And you sit there going, oh my gosh, somehow I'm 320 00:19:48,359 --> 00:19:51,800 Speaker 1: responsible for all of this and I'm going to mess 321 00:19:51,880 --> 00:19:57,399 Speaker 1: up something dramatically because I didn't take the right decision. No, 322 00:19:58,240 --> 00:20:02,440 Speaker 1: that's leadership for you, that's the responsibility. Um. I'm also 323 00:20:02,480 --> 00:20:05,640 Speaker 1: curious to get your vantage point of We're We're having 324 00:20:05,680 --> 00:20:09,439 Speaker 1: this conversation at such an interesting juncture in the so 325 00:20:09,560 --> 00:20:12,359 Speaker 1: called streaming wars, because you know, we've talked a bit 326 00:20:12,359 --> 00:20:16,919 Speaker 1: about Netflix and Amazon, but here comes Disney Plus, now HBO, 327 00:20:17,000 --> 00:20:22,120 Speaker 1: Max and Peacock, and it's just how does this flood 328 00:20:22,160 --> 00:20:27,720 Speaker 1: of new, highly capitalized players impact even you at brick Box. 329 00:20:27,760 --> 00:20:30,119 Speaker 1: And I'm just curious to get your your viewpoint on 330 00:20:30,200 --> 00:20:35,600 Speaker 1: just the competitive picture for uh, those companies in general. Yeah, 331 00:20:35,760 --> 00:20:41,240 Speaker 1: I'm gonna um, these are these are publicly available facts 332 00:20:41,240 --> 00:20:43,720 Speaker 1: that you've probably published on at some point in time. 333 00:20:44,440 --> 00:20:48,080 Speaker 1: You asked earlier about Netflix and sort of how do 334 00:20:48,119 --> 00:20:50,280 Speaker 1: we feel about the fact that they're you know, they 335 00:20:50,520 --> 00:20:52,919 Speaker 1: they're a competitors, like in their a viable competitor. How 336 00:20:52,960 --> 00:20:57,600 Speaker 1: do I feel about that? I do think that we 337 00:20:59,160 --> 00:21:00,399 Speaker 1: I think we're going into a new a world. By 338 00:21:00,400 --> 00:21:01,879 Speaker 1: the way, I should probably stay that first. And the 339 00:21:01,880 --> 00:21:03,960 Speaker 1: new world that we're going into is the one that 340 00:21:04,040 --> 00:21:06,000 Speaker 1: you just laid out, which is there's all of these 341 00:21:06,000 --> 00:21:10,480 Speaker 1: players who are merely capitalizing on the fact that they 342 00:21:10,480 --> 00:21:17,280 Speaker 1: think everyone's going to access shows content differently and I'm 343 00:21:17,280 --> 00:21:21,359 Speaker 1: going to repatriate content, which again your your presentation fabulously 344 00:21:21,400 --> 00:21:25,960 Speaker 1: alluded to, right the wars for who's going to bid 345 00:21:26,040 --> 00:21:28,600 Speaker 1: up the shows that everyone thinks it's going to be 346 00:21:28,760 --> 00:21:30,919 Speaker 1: the thing that people are gonna come into watch and 347 00:21:31,000 --> 00:21:33,960 Speaker 1: keep watching. Right these are these are things that are 348 00:21:33,960 --> 00:21:37,480 Speaker 1: not unknown. However, my question is what person is going 349 00:21:37,560 --> 00:21:39,920 Speaker 1: to say, Okay, fine, I'm gonna go to Seinfeld. I'm 350 00:21:39,920 --> 00:21:42,320 Speaker 1: gonna go here for Seinfeld, I'm gonna go there for office, 351 00:21:42,480 --> 00:21:45,760 Speaker 1: I'm gonna go there for Parks and Wreck. I personally 352 00:21:45,760 --> 00:21:48,159 Speaker 1: think they're all just gonna I'll sign up to that, 353 00:21:48,320 --> 00:21:52,280 Speaker 1: watch that for four months or whatever, two months, four weeks, whatever, 354 00:21:52,359 --> 00:21:56,480 Speaker 1: be my appetite of choice, Cancel, go to the next one, 355 00:21:57,400 --> 00:22:00,600 Speaker 1: do what I need to. It's something that but I'm 356 00:22:00,600 --> 00:22:03,360 Speaker 1: sure the hbos of the world talk about quite openly, 357 00:22:03,720 --> 00:22:07,600 Speaker 1: and you reported on right this whole idea of you 358 00:22:07,720 --> 00:22:10,080 Speaker 1: come in for the show and you leave Churn is 359 00:22:10,119 --> 00:22:12,680 Speaker 1: going to be a nightmare for all these players. There's 360 00:22:12,680 --> 00:22:17,280 Speaker 1: no question I would agree. And I think that from 361 00:22:17,359 --> 00:22:21,760 Speaker 1: day one the strategy that we chose to do it 362 00:22:21,840 --> 00:22:26,920 Speaker 1: was slow and steady wins the race. We're no hurried 363 00:22:27,000 --> 00:22:31,840 Speaker 1: to overnight make a mega statement. We are. We want 364 00:22:31,920 --> 00:22:36,800 Speaker 1: to cultivate a high quality subscriber, one that we we 365 00:22:36,920 --> 00:22:40,560 Speaker 1: think comes to us because they understand what it is 366 00:22:40,600 --> 00:22:43,679 Speaker 1: that we're building. Um. I also think, and I think 367 00:22:43,680 --> 00:22:45,600 Speaker 1: I said to you before that I think the world 368 00:22:45,600 --> 00:22:48,240 Speaker 1: that you're describing is one where it's changed. And the 369 00:22:48,280 --> 00:22:50,479 Speaker 1: reason I think it's fundamentally changes. Everyone else is going 370 00:22:50,480 --> 00:22:53,560 Speaker 1: to be dooking out on Churn, whereas I think I'm 371 00:22:53,560 --> 00:22:56,359 Speaker 1: open some of us and you named the anime, so 372 00:22:56,400 --> 00:22:58,239 Speaker 1: I'm going to go there to say some of us, 373 00:22:58,840 --> 00:23:01,520 Speaker 1: including crunching role. I'm gonna I'm gonna cup them with me. 374 00:23:01,520 --> 00:23:03,640 Speaker 1: I don't know if they'll agree or not. Well, they're 375 00:23:03,640 --> 00:23:06,600 Speaker 1: a big niche player for those who don't understand in 376 00:23:06,600 --> 00:23:09,880 Speaker 1: the streaming world. And I feel like people like them, 377 00:23:10,040 --> 00:23:14,280 Speaker 1: people like us, are gonna are gonna probably just chuckle 378 00:23:14,359 --> 00:23:17,560 Speaker 1: on on the side because we're going to become your 379 00:23:18,000 --> 00:23:22,200 Speaker 1: main course, so to speak. Okay, and then everyone all 380 00:23:22,200 --> 00:23:24,199 Speaker 1: decides to choose from, even though the side is going 381 00:23:24,240 --> 00:23:27,240 Speaker 1: to cost you more. But I gotta I gotta ask. 382 00:23:27,280 --> 00:23:29,280 Speaker 1: And this is sort of a tough question. It's it's 383 00:23:29,320 --> 00:23:33,120 Speaker 1: kind of a worst case scenario. Is it possible we're 384 00:23:33,160 --> 00:23:36,760 Speaker 1: heading to a place where there is no niche in 385 00:23:36,800 --> 00:23:40,199 Speaker 1: the streaming world, that it is entirely in this world 386 00:23:40,720 --> 00:23:43,959 Speaker 1: of infinite shelf space, You're just going to have the 387 00:23:44,040 --> 00:23:47,120 Speaker 1: giant you know, two, three, four companies that will have 388 00:23:47,240 --> 00:23:51,280 Speaker 1: literally everything, and niche players need not apply. Am I 389 00:23:51,320 --> 00:23:56,040 Speaker 1: being alarmist here? I think you are. And the reason 390 00:23:56,080 --> 00:23:59,560 Speaker 1: I think you are is because I think that, as 391 00:23:59,560 --> 00:24:01,920 Speaker 1: I said to for there was there was probably a time, 392 00:24:02,320 --> 00:24:04,159 Speaker 1: maybe five years ago, I have agreed with you. And 393 00:24:04,200 --> 00:24:06,640 Speaker 1: the reason that I agreed is because you in order 394 00:24:06,680 --> 00:24:11,000 Speaker 1: to survive as a niche player, and the idea is 395 00:24:11,040 --> 00:24:13,840 Speaker 1: that you need to have enough people coming in and 396 00:24:13,880 --> 00:24:16,439 Speaker 1: your cost of doing business needs to be able to 397 00:24:16,520 --> 00:24:19,480 Speaker 1: sustain that. Right, your cost of doing business in your 398 00:24:19,520 --> 00:24:24,119 Speaker 1: combination of your marketing, content costs and technology costs, I 399 00:24:24,240 --> 00:24:26,960 Speaker 1: need to said, I'll be less than what it is 400 00:24:27,000 --> 00:24:28,960 Speaker 1: that people are willing to pay for it and how 401 00:24:28,960 --> 00:24:32,240 Speaker 1: long they're willing to pay for it, right, Right, And 402 00:24:32,280 --> 00:24:34,600 Speaker 1: I'm saying that here's what has happened if you look 403 00:24:34,640 --> 00:24:37,359 Speaker 1: on this side of the equation. Right, if you assume 404 00:24:37,440 --> 00:24:39,280 Speaker 1: that this side of the equation, which is your people 405 00:24:39,320 --> 00:24:41,080 Speaker 1: coming in and what they will pay and how long 406 00:24:41,119 --> 00:24:47,040 Speaker 1: they'll pay for is um is under arrest stress right 407 00:24:47,119 --> 00:24:50,159 Speaker 1: because there's so many more choices. The other side of 408 00:24:50,200 --> 00:24:54,359 Speaker 1: the equation has been um. Look, the other side of 409 00:24:54,359 --> 00:24:59,040 Speaker 1: the equation, content is no less under stress. However, given 410 00:24:59,119 --> 00:25:02,040 Speaker 1: that the all of content that I'm picking from its finite, 411 00:25:02,560 --> 00:25:04,760 Speaker 1: I think it's it's a different it's a different war 412 00:25:04,880 --> 00:25:06,920 Speaker 1: that we're fighting in the content space. We're not fighting 413 00:25:06,960 --> 00:25:10,840 Speaker 1: the same war that everyone else is. Okay, So that's 414 00:25:11,080 --> 00:25:13,480 Speaker 1: that's that's one part of the equation. The second part 415 00:25:13,480 --> 00:25:18,320 Speaker 1: of the equation is the marketing. Again, I think we 416 00:25:18,440 --> 00:25:22,280 Speaker 1: are fighting for uh, you called it niche, so I 417 00:25:22,320 --> 00:25:24,800 Speaker 1: will stick to that, although we didn't mean that in 418 00:25:24,840 --> 00:25:27,159 Speaker 1: a demeaning way. No, no, no, no, that's not a 419 00:25:27,240 --> 00:25:29,120 Speaker 1: it's not a bad thing. But we we've talked about 420 00:25:29,160 --> 00:25:32,160 Speaker 1: that term internally a lot. What are we niche targeted 421 00:25:32,280 --> 00:25:35,399 Speaker 1: mass niche. We've we've gone, we've gone with every one 422 00:25:35,440 --> 00:25:39,000 Speaker 1: of those versions, right, But we know that we are 423 00:25:39,240 --> 00:25:41,800 Speaker 1: for a group of people who choose this. And I 424 00:25:41,840 --> 00:25:46,119 Speaker 1: say that because that that actually makes it much easier 425 00:25:46,760 --> 00:25:51,080 Speaker 1: to find in this world of algorithmic digital marketing, in 426 00:25:51,119 --> 00:25:55,320 Speaker 1: the world of facebooks and Googles, they will actually treat 427 00:25:55,359 --> 00:25:57,639 Speaker 1: you much better for what it is that we are doing. 428 00:25:58,160 --> 00:26:01,440 Speaker 1: And hence your CPMs, your each your engagement to conversions, 429 00:26:01,480 --> 00:26:05,879 Speaker 1: your ctrs, and your CVRs are are better than you 430 00:26:05,920 --> 00:26:09,560 Speaker 1: would expect if you were in a in a mass world. Right. So, 431 00:26:09,960 --> 00:26:12,680 Speaker 1: off the of the three equations, I spoke to you 432 00:26:12,760 --> 00:26:16,280 Speaker 1: about technology before, which has become commoditized. So I feel 433 00:26:16,320 --> 00:26:22,080 Speaker 1: like we are we're probably on the on the slightly 434 00:26:22,160 --> 00:26:26,679 Speaker 1: better side of that equation. Okay, not a bad place 435 00:26:26,720 --> 00:26:29,680 Speaker 1: to be, you know, we should think even broader though 436 00:26:29,680 --> 00:26:32,399 Speaker 1: than the streaming wars. I think to the sort of 437 00:26:32,520 --> 00:26:37,760 Speaker 1: total video pie out there, a pay television certainly struggling, 438 00:26:37,800 --> 00:26:42,840 Speaker 1: but still a gigantic business. Um, how does that figure 439 00:26:43,040 --> 00:26:47,760 Speaker 1: into how you see this competitive picture playing out? We 440 00:26:47,880 --> 00:26:53,000 Speaker 1: are not We're not aiming for, nor have we ever 441 00:26:53,320 --> 00:26:57,160 Speaker 1: aimed for, that cord shaver, cord cutter. We think that 442 00:26:57,240 --> 00:27:01,639 Speaker 1: we sit alongside the person that's probably watching and we 443 00:27:01,680 --> 00:27:04,879 Speaker 1: know this anything. We've publicly stated that our audience is 444 00:27:05,320 --> 00:27:11,479 Speaker 1: predominantly women forty five plus, which is also a big 445 00:27:11,720 --> 00:27:16,240 Speaker 1: a TV watcher as you know, broadcast and a TV 446 00:27:17,040 --> 00:27:20,840 Speaker 1: um and I think what we believe again is that 447 00:27:20,960 --> 00:27:26,040 Speaker 1: we're not here too to disrupt current viewing. We're here 448 00:27:26,080 --> 00:27:31,480 Speaker 1: to supplement it. I had my business plan from back 449 00:27:31,520 --> 00:27:33,720 Speaker 1: in the day at BBC when I did the business 450 00:27:33,720 --> 00:27:39,640 Speaker 1: plan for this, I said, we cannot be a substitutional 451 00:27:39,680 --> 00:27:41,680 Speaker 1: route to market. We have to be a supplemental route 452 00:27:41,680 --> 00:27:44,440 Speaker 1: to market. And I said that has to be how 453 00:27:44,480 --> 00:27:48,040 Speaker 1: we go to market. But eventually we have to become 454 00:27:48,320 --> 00:27:51,720 Speaker 1: a key route to market before potentially becoming a principal 455 00:27:51,800 --> 00:27:55,879 Speaker 1: route to market. Mm hmm. And it's a it's a 456 00:27:55,960 --> 00:28:04,560 Speaker 1: journey that we we think about quite um, quite a lot. Well. 457 00:28:04,640 --> 00:28:06,600 Speaker 1: I mean, I think whether you're in the streaming world 458 00:28:06,680 --> 00:28:10,240 Speaker 1: or the pay TV world, I think, my opinion curious 459 00:28:10,240 --> 00:28:14,760 Speaker 1: to get your impression that there's too many brands out 460 00:28:14,800 --> 00:28:21,560 Speaker 1: there vying for the consumer eyeballs or memory. Um, and 461 00:28:21,600 --> 00:28:24,200 Speaker 1: I think there's gonna be a winnowing on both sides. 462 00:28:25,400 --> 00:28:28,560 Speaker 1: But I think that presents some challenges for you as well. 463 00:28:28,720 --> 00:28:31,159 Speaker 1: You're in that mix trying to get that shelf space 464 00:28:31,200 --> 00:28:37,760 Speaker 1: and consumers minds. Yeah, it does a It is a 465 00:28:37,800 --> 00:28:40,959 Speaker 1: scary time for sure. Do I know what new tools 466 00:28:40,960 --> 00:28:43,680 Speaker 1: are available available for us and not to be wowed? Doubt? 467 00:28:44,640 --> 00:28:48,920 Speaker 1: I don't know. I'm I'm banking on the fact that 468 00:28:49,080 --> 00:28:56,320 Speaker 1: we have a very clear proposition, right um. I look again, 469 00:28:56,600 --> 00:28:59,160 Speaker 1: since we're talking about everyone else might as well. I 470 00:28:59,200 --> 00:29:02,800 Speaker 1: feel like Disney is the one that everyone understands what 471 00:29:02,880 --> 00:29:07,600 Speaker 1: it is. M hm. Can you, um, can anyone really 472 00:29:07,640 --> 00:29:14,400 Speaker 1: tell you what? Amazon Prime Video stands for everything? Exactly exactly? So? 473 00:29:14,520 --> 00:29:17,360 Speaker 1: Then then so is Netflix so school So if you 474 00:29:17,400 --> 00:29:23,080 Speaker 1: stand for everything, it's like you stand for nothing. Yes, okay, 475 00:29:23,120 --> 00:29:25,600 Speaker 1: but let me Devil's advocate this nothing turns out to 476 00:29:25,600 --> 00:29:28,800 Speaker 1: be a pretty good business We're having this conversation just 477 00:29:28,840 --> 00:29:34,240 Speaker 1: about a week after Netflix reported absolutely eye popping increase 478 00:29:34,440 --> 00:29:39,000 Speaker 1: to the amount of subscribers they landed worldwide. So to 479 00:29:39,080 --> 00:29:43,240 Speaker 1: some degree is nothing such a bad thing? Um? I 480 00:29:43,280 --> 00:29:45,760 Speaker 1: would also say, we do not yet know what's going 481 00:29:45,800 --> 00:29:48,320 Speaker 1: to happen after this, because we do know what happened 482 00:29:48,560 --> 00:29:51,640 Speaker 1: to them the Quarterback Disney launched in the U S. 483 00:29:51,760 --> 00:29:55,320 Speaker 1: We do know what happened. They took a hit. Yes, 484 00:29:55,640 --> 00:30:00,160 Speaker 1: my point is I think the proofs the puddings sort 485 00:30:00,200 --> 00:30:02,680 Speaker 1: of and look, I do not know how all of 486 00:30:02,720 --> 00:30:05,840 Speaker 1: this is going to end up, do I? Okay? So 487 00:30:06,440 --> 00:30:11,479 Speaker 1: is being everything to everybody so bad? No, but British 488 00:30:11,520 --> 00:30:14,680 Speaker 1: television was never intended to be everything for everybody. However, 489 00:30:14,760 --> 00:30:20,600 Speaker 1: what I would say is we're profitable? Are they? Is it? Also? Though, 490 00:30:21,280 --> 00:30:24,200 Speaker 1: you know, in this climate, how do you market the 491 00:30:24,240 --> 00:30:27,719 Speaker 1: brit Box brand? Um? I assume you don't. You know, 492 00:30:27,840 --> 00:30:30,440 Speaker 1: you're profitable but not necessarily spending to be in the 493 00:30:30,480 --> 00:30:33,680 Speaker 1: Super Bowl, So how do you find your you know, 494 00:30:33,760 --> 00:30:37,640 Speaker 1: women over forty five audience. I alluded to this likely 495 00:30:37,680 --> 00:30:41,280 Speaker 1: earlier and I said the factulorts think about digital performance 496 00:30:41,320 --> 00:30:46,320 Speaker 1: marketing is the ability to scale and iterate because they 497 00:30:46,320 --> 00:30:50,720 Speaker 1: allow you to find lookalike audiences using tools, so your data. 498 00:30:51,080 --> 00:30:53,440 Speaker 1: If you remember upfront, I said there are three things 499 00:30:53,440 --> 00:30:55,760 Speaker 1: that make this work, which is your technology, your data, 500 00:30:55,800 --> 00:31:00,960 Speaker 1: and your content. And this is this is the perfect 501 00:31:01,000 --> 00:31:03,040 Speaker 1: place for you to bring all three of them together, 502 00:31:03,960 --> 00:31:08,800 Speaker 1: using data to identify who my high touch point or 503 00:31:08,880 --> 00:31:12,160 Speaker 1: and or high engagement users are, and then using the 504 00:31:12,200 --> 00:31:15,000 Speaker 1: Facebook algorithm to find more like them fish in the 505 00:31:15,040 --> 00:31:18,800 Speaker 1: pond and we find we find how effective that is. 506 00:31:18,960 --> 00:31:23,280 Speaker 1: And then and then surely, surely but not quickly iterating 507 00:31:23,320 --> 00:31:26,360 Speaker 1: on that right like knowing at what point do I say, yep, 508 00:31:26,480 --> 00:31:29,800 Speaker 1: I need to change that pool again? And then rather 509 00:31:29,800 --> 00:31:32,440 Speaker 1: than use look alike, do I use a prospecting audience 510 00:31:33,400 --> 00:31:41,480 Speaker 1: that catches or throws the net slightly wider? Mm hmm okay, 511 00:31:41,800 --> 00:31:46,640 Speaker 1: So as you you know, as you put it, we 512 00:31:46,680 --> 00:31:49,320 Speaker 1: don't know what's going to happen in this space. But 513 00:31:49,360 --> 00:31:51,440 Speaker 1: I'm curious if you have a sense of the time 514 00:31:51,480 --> 00:31:57,320 Speaker 1: table of how how how quickly things will sort of 515 00:31:57,480 --> 00:32:03,000 Speaker 1: come together, well we know, do you think by how 516 00:32:03,000 --> 00:32:05,920 Speaker 1: many players are meant to be in this broader streaming market, 517 00:32:05,960 --> 00:32:08,560 Speaker 1: how many niche will be around all that? Or do 518 00:32:08,600 --> 00:32:13,000 Speaker 1: you see this as a longer term game. Yeah, I 519 00:32:13,840 --> 00:32:17,280 Speaker 1: um gosh, if you'd ask me this question pre COVID, 520 00:32:17,280 --> 00:32:20,000 Speaker 1: I'd have said, for sure, by twenty one, we're gonna 521 00:32:20,000 --> 00:32:23,760 Speaker 1: know who's in, who's out. M COVID happens, and I'm 522 00:32:23,800 --> 00:32:27,960 Speaker 1: gonna go. I don't know what new metrics are going 523 00:32:28,040 --> 00:32:31,840 Speaker 1: to be thrown at us that will um, that will 524 00:32:31,840 --> 00:32:39,040 Speaker 1: determine what happens. However, I also think that at this 525 00:32:39,160 --> 00:32:43,960 Speaker 1: time people are also going to choose their um, their 526 00:32:44,040 --> 00:32:46,880 Speaker 1: poison of choice in terms of people are at home, 527 00:32:47,080 --> 00:32:50,960 Speaker 1: so to speak, and these are these are poisons? Like 528 00:32:51,000 --> 00:32:56,440 Speaker 1: how much can anyone watch? I'm I'm amazed, Like how 529 00:32:56,480 --> 00:32:58,800 Speaker 1: do we all have any more? Hours? Like what are 530 00:32:58,800 --> 00:33:02,760 Speaker 1: you watching? Andrew? I'm all over the place. I'm doing 531 00:33:02,760 --> 00:33:06,480 Speaker 1: a little Netflix, a little pay TV sports. Not having 532 00:33:06,520 --> 00:33:10,120 Speaker 1: that has really opened me up to watching more than 533 00:33:10,160 --> 00:33:12,400 Speaker 1: I usually would, which is why it's such a great 534 00:33:12,440 --> 00:33:16,760 Speaker 1: time if your bread box. Yeah, because people are willing 535 00:33:16,760 --> 00:33:19,120 Speaker 1: to try a new thing. Yeah, I I think so. 536 00:33:19,320 --> 00:33:22,040 Speaker 1: I think so, and I think that we look. I 537 00:33:22,040 --> 00:33:25,600 Speaker 1: I literally went, how is it possible that day one 538 00:33:25,720 --> 00:33:30,400 Speaker 1: of COVID? I literally see I have this PA, have 539 00:33:30,440 --> 00:33:31,760 Speaker 1: a BA have a pattern? Right? And we know what 540 00:33:31,760 --> 00:33:34,560 Speaker 1: our seasonality is. We know what happens when we launch 541 00:33:34,640 --> 00:33:39,040 Speaker 1: shows and suddenly goes just like that and then stays 542 00:33:39,080 --> 00:33:42,440 Speaker 1: at that level, stays at the level, stays at that level. 543 00:33:42,880 --> 00:33:44,600 Speaker 1: And I'm going, what is it going on? Like? What 544 00:33:44,720 --> 00:33:47,280 Speaker 1: how is it that people know about it? And what 545 00:33:47,440 --> 00:33:51,680 Speaker 1: is it that makes them want to continue to watch? Right? 546 00:33:51,960 --> 00:33:53,520 Speaker 1: And look, by the way, the research doesn't come back, 547 00:33:53,560 --> 00:33:56,440 Speaker 1: so I can't speak to it just yet, but we're 548 00:33:56,480 --> 00:33:58,800 Speaker 1: studying this right to your point? Is it that they 549 00:33:58,840 --> 00:34:01,360 Speaker 1: have nothing else to watch? Or is it that they've 550 00:34:01,400 --> 00:34:04,720 Speaker 1: known about it and they suddenly have time. Well, it 551 00:34:04,800 --> 00:34:07,960 Speaker 1: just seems like this marketplace is it becomes, as I 552 00:34:08,000 --> 00:34:10,520 Speaker 1: think a Nielsen executive recently said, it becomes like a 553 00:34:10,560 --> 00:34:15,799 Speaker 1: media lab um, just because behaviors are being adjusted so 554 00:34:15,880 --> 00:34:20,160 Speaker 1: many different things. But I guess here's one last question 555 00:34:20,239 --> 00:34:23,280 Speaker 1: for you. Do you look at what's going on now 556 00:34:23,440 --> 00:34:28,439 Speaker 1: in this very unique circumstance and say, when it ends, 557 00:34:28,480 --> 00:34:31,120 Speaker 1: when people are let out of their house again, so 558 00:34:31,239 --> 00:34:35,440 Speaker 1: to speak, all the old behaviors will just return. Or 559 00:34:35,520 --> 00:34:38,080 Speaker 1: is it you know what, there's been new habits built 560 00:34:38,120 --> 00:34:41,239 Speaker 1: now and those will keep going. Um, do you have 561 00:34:41,320 --> 00:34:44,759 Speaker 1: sort of a general philosophy on that. My theory is 562 00:34:44,800 --> 00:34:51,600 Speaker 1: it's the latter. I sincerely believe that we we as people, 563 00:34:51,680 --> 00:34:56,240 Speaker 1: we as media executives, we as media consumers, have all 564 00:34:57,640 --> 00:35:02,360 Speaker 1: learned a new muscle m hmm, gained a new muscle, 565 00:35:02,520 --> 00:35:05,759 Speaker 1: and I think that I think that it's here with 566 00:35:05,920 --> 00:35:09,000 Speaker 1: us for a bit. Got it? Well, Sonya, thank you 567 00:35:09,120 --> 00:35:11,280 Speaker 1: for taking the time out to talk to me today. 568 00:35:11,680 --> 00:35:17,560 Speaker 1: Oh Andrew, you're fabulous. This has been another episode of 569 00:35:17,600 --> 00:35:20,560 Speaker 1: Strictly Business. Tune in next week for another helping of 570 00:35:20,640 --> 00:35:24,560 Speaker 1: scintillating conversation with media movers and shakers, and please make 571 00:35:24,560 --> 00:35:28,279 Speaker 1: sure you subscribe to the podcast to hear future episodes. 572 00:35:28,560 --> 00:35:31,400 Speaker 1: Also leave a review in Apple Podcast let us know 573 00:35:31,440 --> 00:35:32,120 Speaker 1: how we're doing it.