1 00:00:06,720 --> 00:00:11,000 Speaker 1: Welcome to Strictly Business, Varieties weekly podcast featuring conversations with 2 00:00:11,080 --> 00:00:14,800 Speaker 1: industry leaders about the business of media and entertainment. I'm 3 00:00:14,800 --> 00:00:17,160 Speaker 1: Andrew Wallenstein, and I'm here to say this will be 4 00:00:17,200 --> 00:00:21,480 Speaker 1: no ordinary episode. It's our one hundred installment of this podcast, 5 00:00:21,520 --> 00:00:26,120 Speaker 1: which began way back on April three. To mark this milestone, 6 00:00:26,480 --> 00:00:30,360 Speaker 1: I and my esteemed podcast partner, Cynthia Littleton, business editor 7 00:00:30,400 --> 00:00:33,040 Speaker 1: at Variety, have decided to take a look back at 8 00:00:33,080 --> 00:00:36,360 Speaker 1: some of the most memorable moments on Strictly Business. If 9 00:00:36,400 --> 00:00:38,320 Speaker 1: you're new to this podcast, we think you'll find it 10 00:00:38,360 --> 00:00:40,440 Speaker 1: a great way to get to know us, and if 11 00:00:40,479 --> 00:00:43,000 Speaker 1: you're a returning listener, you hope you'll enjoy this stroll 12 00:00:43,040 --> 00:00:46,199 Speaker 1: down memory lane. Now here's Cynthia with her first highlight. 13 00:00:47,080 --> 00:00:50,000 Speaker 1: Hello from Cynthia and thanks for listening to this special 14 00:00:50,040 --> 00:00:53,320 Speaker 1: episode of Strictly Business. One of the interviews I chased 15 00:00:53,360 --> 00:00:55,880 Speaker 1: hard last year was the first sit down with Dana 16 00:00:55,960 --> 00:01:00,400 Speaker 1: Walden after Disney completed its acquisition of Century Balks in 17 00:01:00,440 --> 00:01:04,040 Speaker 1: March nineteen. I've known Dana a long time and I 18 00:01:04,080 --> 00:01:07,000 Speaker 1: definitely leaned on that to persuade her to do her 19 00:01:07,040 --> 00:01:10,360 Speaker 1: first major interview in front of a crowd at Variety's 20 00:01:10,360 --> 00:01:15,320 Speaker 1: annual TV Summit in Los Angeles in June nineteen. Dana 21 00:01:15,400 --> 00:01:18,520 Speaker 1: has long been one of the most powerful executives in television. 22 00:01:19,000 --> 00:01:22,000 Speaker 1: She had no shortage of opportunities when the surprise sale 23 00:01:22,000 --> 00:01:24,640 Speaker 1: of Fox came down. I wanted to know why she 24 00:01:24,760 --> 00:01:28,600 Speaker 1: chose such an extremely high profile and high pressure job 25 00:01:28,680 --> 00:01:32,840 Speaker 1: of leading Disney's TV Studios and ABC. You know, when 26 00:01:32,840 --> 00:01:37,480 Speaker 1: I looked around and thought about companies which are fundamentally 27 00:01:37,600 --> 00:01:43,080 Speaker 1: the phone company, a cable company, a retail company, um, 28 00:01:43,280 --> 00:01:48,160 Speaker 1: companies where the tech started the businesses and then the 29 00:01:48,320 --> 00:01:53,400 Speaker 1: creativity was acquired. Culturally, I think those companies are always 30 00:01:53,400 --> 00:01:55,600 Speaker 1: going to be very different from a company that's been 31 00:01:56,120 --> 00:02:00,960 Speaker 1: about storytelling for almost a hundred years and all started 32 00:02:00,960 --> 00:02:04,800 Speaker 1: by a mouse. As often said, yeah, absolutely, let me 33 00:02:04,840 --> 00:02:06,840 Speaker 1: ask you in the in the process of you know, 34 00:02:06,920 --> 00:02:10,880 Speaker 1: making that decision, and and once you were you know, 35 00:02:10,919 --> 00:02:13,800 Speaker 1: once once the industry was you know, was surprised to 36 00:02:13,919 --> 00:02:17,440 Speaker 1: learn that the Murdocks were, uh, you know, considering open 37 00:02:17,480 --> 00:02:21,160 Speaker 1: to considering a sale. Did during that period, did did 38 00:02:21,800 --> 00:02:23,880 Speaker 1: the changes in the industry Did they crystallize in your 39 00:02:23,880 --> 00:02:27,480 Speaker 1: mind in a different way when you knew that you know, Fox, 40 00:02:27,520 --> 00:02:29,320 Speaker 1: which was you know, I mean it was such a 41 00:02:29,360 --> 00:02:31,720 Speaker 1: shock because it was such a robust business rouper. It 42 00:02:31,760 --> 00:02:35,080 Speaker 1: was a buyer, not a seller. Was that did you? 43 00:02:35,200 --> 00:02:38,120 Speaker 1: Did you? Was that process a learning process for what 44 00:02:38,160 --> 00:02:40,400 Speaker 1: you just described, like where you see the company going, 45 00:02:40,760 --> 00:02:43,800 Speaker 1: I'm sorry, the industry going, yeah, no question. And you know, 46 00:02:44,639 --> 00:02:49,200 Speaker 1: I think Rupert disrupted again. I mean, I think the 47 00:02:49,480 --> 00:02:52,800 Speaker 1: narrative around is he a buyer or a seller? You know, 48 00:02:52,919 --> 00:02:55,680 Speaker 1: he was a buyer at the time that people weren't 49 00:02:55,680 --> 00:03:01,320 Speaker 1: acquiring you know, enormous station groups, or eyeing a studio, 50 00:03:01,480 --> 00:03:06,840 Speaker 1: or launching a competitor to the broadcast networks, or acquiring 51 00:03:06,840 --> 00:03:11,600 Speaker 1: the NFL on a pretty spectacular scale. That was disruptive 52 00:03:11,840 --> 00:03:15,640 Speaker 1: at that time. I think what was disruptive, you know, 53 00:03:15,680 --> 00:03:20,040 Speaker 1: in two thousand eighteen was him making an extraordinary deal 54 00:03:20,120 --> 00:03:25,519 Speaker 1: to sell his company. And I do I do feel 55 00:03:25,600 --> 00:03:31,000 Speaker 1: like our company got the benefit of seeing what the 56 00:03:31,040 --> 00:03:35,920 Speaker 1: shortcomings are of the various streaming competitors, you know, what 57 00:03:35,960 --> 00:03:39,480 Speaker 1: we can do that might be better, and again doing 58 00:03:39,520 --> 00:03:42,640 Speaker 1: it at a scale that's kind of undeniable. This is 59 00:03:42,680 --> 00:03:48,880 Speaker 1: going or is now arguably the biggest content company in 60 00:03:48,880 --> 00:03:54,560 Speaker 1: the business, with you know, the second largest streaming platform 61 00:03:54,720 --> 00:03:59,520 Speaker 1: in the business, with an incredibly robust plan to launch 62 00:03:59,600 --> 00:04:03,280 Speaker 1: Disney Plus, which is you know you. I'm sure you're 63 00:04:03,320 --> 00:04:07,400 Speaker 1: at investor Day and you just saw this incredible collection 64 00:04:07,680 --> 00:04:14,520 Speaker 1: of beloved brands and content and original programming again situated 65 00:04:14,600 --> 00:04:18,119 Speaker 1: really to win and having the ability to look at, 66 00:04:18,640 --> 00:04:21,240 Speaker 1: you know, some of the missteps of our competitors. All 67 00:04:21,240 --> 00:04:24,120 Speaker 1: of those things came together relatively quickly, but they all 68 00:04:24,160 --> 00:04:31,800 Speaker 1: made great sense. If I had to pick one executive 69 00:04:31,839 --> 00:04:35,200 Speaker 1: I find the most fascinating to talk to, it's got 70 00:04:35,200 --> 00:04:39,440 Speaker 1: to be former HBO CEO Richard Plepler. He's responsible for 71 00:04:39,560 --> 00:04:42,800 Speaker 1: some of the greatest series in TV history, but that's 72 00:04:42,800 --> 00:04:45,800 Speaker 1: not why I regard him as the consummate showman. This 73 00:04:45,839 --> 00:04:48,440 Speaker 1: guy puts on a show every time he opens his mouth. 74 00:04:49,200 --> 00:04:52,200 Speaker 1: When I sat down with him in the Streaming Wars 75 00:04:52,240 --> 00:04:55,080 Speaker 1: had barely begun, so it was a treatback then to 76 00:04:55,160 --> 00:04:58,479 Speaker 1: hear him survey competitive field just beginning to take shape. 77 00:04:59,080 --> 00:05:00,800 Speaker 1: And it's even more interest thing to look back on 78 00:05:00,880 --> 00:05:04,400 Speaker 1: that conversation because now he's fighting for a different side 79 00:05:04,400 --> 00:05:07,560 Speaker 1: in the streaming Wars, having launched a new production company 80 00:05:07,640 --> 00:05:10,160 Speaker 1: with a first look deal at one of HBO's rivals 81 00:05:10,320 --> 00:05:14,160 Speaker 1: Apple TV plus. I understand your bullishness, but let's take 82 00:05:14,160 --> 00:05:17,920 Speaker 1: a step back and say the reality is the undeniable. 83 00:05:18,000 --> 00:05:22,240 Speaker 1: The undeniable reality is is the competitive landscape you're facing 84 00:05:22,320 --> 00:05:25,240 Speaker 1: right now is like nothing you've ever seen. Netflix alone 85 00:05:26,160 --> 00:05:29,760 Speaker 1: spending at probably you know, possibly double what you guys 86 00:05:29,760 --> 00:05:33,000 Speaker 1: are doing on just original content, not talking about licensing. 87 00:05:33,279 --> 00:05:38,120 Speaker 1: Amazon right behind them, Apple coming. Your incumbent competitors like 88 00:05:38,160 --> 00:05:44,320 Speaker 1: Showtime and Stars aren't fading fast anytime soon. So how 89 00:05:44,360 --> 00:05:46,360 Speaker 1: are you going to be able to compete, especially when 90 00:05:46,400 --> 00:05:49,680 Speaker 1: you're being outspent by a lot of these new players, 91 00:05:49,680 --> 00:05:55,280 Speaker 1: not a lot, you know, our brand um is a 92 00:05:55,320 --> 00:05:59,680 Speaker 1: magnet for talented people in the creative community. I feel 93 00:05:59,680 --> 00:06:03,440 Speaker 1: like Ted Surrando says the same thing. Well he he, 94 00:06:03,440 --> 00:06:06,600 Speaker 1: he does, and he's welcome to say it, and there's 95 00:06:06,600 --> 00:06:08,919 Speaker 1: some truth to it. And they do very good work. 96 00:06:09,000 --> 00:06:12,159 Speaker 1: And I've said publicly and I'm I've said it to 97 00:06:12,200 --> 00:06:14,479 Speaker 1: them directly. Anybody who doesn't tip their hat to what 98 00:06:14,960 --> 00:06:18,400 Speaker 1: those guys have accomplished in the last seven ten years, 99 00:06:18,440 --> 00:06:20,720 Speaker 1: it just isn't being fair. They've done a terrific job. 100 00:06:21,160 --> 00:06:24,520 Speaker 1: This is not binary. Doesn't mean there isn't going to 101 00:06:24,600 --> 00:06:27,040 Speaker 1: be a good show on Netflix or a good show 102 00:06:27,040 --> 00:06:30,960 Speaker 1: on Amazon. None of that has interfered with our growth, 103 00:06:31,400 --> 00:06:36,120 Speaker 1: And I think the proof is in the pudding. Um. Again, 104 00:06:36,440 --> 00:06:40,600 Speaker 1: despite the intensity of this competition, we grew more last 105 00:06:40,680 --> 00:06:43,520 Speaker 1: year than in any year in our history, and we're 106 00:06:43,560 --> 00:06:47,200 Speaker 1: growing and on track for terrific double digit sub revenue 107 00:06:47,200 --> 00:06:49,880 Speaker 1: growth this year as well. So wouldn't you say, our 108 00:06:50,240 --> 00:06:53,400 Speaker 1: game well and curate quality, and we will continue to grow. 109 00:06:53,600 --> 00:06:55,960 Speaker 1: It's not a zero sum game. I was exactly That 110 00:06:56,080 --> 00:06:58,320 Speaker 1: was the exact phrase I was gonna use. Don't you 111 00:06:58,360 --> 00:07:01,400 Speaker 1: think even if you manage to do well while competitor 112 00:07:01,480 --> 00:07:05,360 Speaker 1: B does very well, that competitor F, G and H 113 00:07:05,440 --> 00:07:09,120 Speaker 1: may actually fall out. Aren't we in this consolidating world 114 00:07:09,360 --> 00:07:12,360 Speaker 1: coming to a place where well, the lower brands are 115 00:07:12,360 --> 00:07:16,120 Speaker 1: not going to make it? Listen, I do think that. Um, 116 00:07:16,160 --> 00:07:18,760 Speaker 1: if you just look at your own lives and you 117 00:07:18,800 --> 00:07:21,720 Speaker 1: look at you know, you have only a certain amount 118 00:07:21,760 --> 00:07:23,760 Speaker 1: of leisure time, a certain amount of time you can 119 00:07:23,760 --> 00:07:27,480 Speaker 1: watch movies, watch television beyond the computer you make, you make, 120 00:07:28,920 --> 00:07:32,880 Speaker 1: you make judgments, you make picks, and Um, the key 121 00:07:32,960 --> 00:07:35,680 Speaker 1: for us is to keep the halo on our brand 122 00:07:36,200 --> 00:07:40,120 Speaker 1: so that when people do have discretionary time, they are 123 00:07:40,160 --> 00:07:43,000 Speaker 1: comfortable that we are fulfilling our promise to deliver excells 124 00:07:43,000 --> 00:07:45,160 Speaker 1: and they come. They might not love everything, but they 125 00:07:45,240 --> 00:07:48,679 Speaker 1: certainly think that for fifteen dollars a month, three thousand 126 00:07:48,920 --> 00:07:51,840 Speaker 1: hours of library, the wide range of programming which we 127 00:07:51,920 --> 00:07:55,000 Speaker 1: make for Hollywood movie studios, people end up saying, you 128 00:07:55,000 --> 00:08:02,640 Speaker 1: know what, that's a pretty good price value proposition. David 129 00:08:02,720 --> 00:08:06,280 Speaker 1: Zaslov is one of the most accessible media CEOs and 130 00:08:06,400 --> 00:08:08,840 Speaker 1: one of the most articulate about where he thinks the 131 00:08:08,880 --> 00:08:13,280 Speaker 1: content business is heading. David is competitive, but also thoughtful 132 00:08:13,320 --> 00:08:16,840 Speaker 1: about the industry and how he sizes up the competitive landscape. 133 00:08:17,360 --> 00:08:19,800 Speaker 1: He's learned a lot over the years from John Malone, 134 00:08:20,160 --> 00:08:23,360 Speaker 1: the legendary media investor who has a big personal stake 135 00:08:23,400 --> 00:08:27,360 Speaker 1: and discovery. When Zaslov used the M word early on 136 00:08:27,440 --> 00:08:30,280 Speaker 1: in this interview at his New York office in November 137 00:08:30,320 --> 00:08:33,760 Speaker 1: two thousand eighteen, my ears perked up. We were having 138 00:08:33,840 --> 00:08:36,679 Speaker 1: quite a run as a traditional media company. When I say, 139 00:08:36,720 --> 00:08:41,880 Speaker 1: we were more cable and free to air around the world. Um, 140 00:08:42,000 --> 00:08:44,400 Speaker 1: I've been here for twelve years, and for the first 141 00:08:44,480 --> 00:08:46,920 Speaker 1: seven years we had a you know, an extraordinary run 142 00:08:47,120 --> 00:08:50,400 Speaker 1: both in the market and growth growth around the world 143 00:08:50,400 --> 00:08:53,680 Speaker 1: and here in the US. UM. But I remember a 144 00:08:53,720 --> 00:08:57,840 Speaker 1: conversation I had with John Malone five years ago. Our 145 00:08:57,920 --> 00:09:00,680 Speaker 1: channels were growing double digit around the world in terms 146 00:09:00,760 --> 00:09:05,719 Speaker 1: of viewership and uh, and our performance was strong. Our 147 00:09:05,760 --> 00:09:09,800 Speaker 1: company had grown, stock had grown from about twelve dollars 148 00:09:09,840 --> 00:09:14,079 Speaker 1: to eighty or eighty five dollars, so we really felt 149 00:09:14,120 --> 00:09:16,559 Speaker 1: like we were in stride. And John and I talked 150 00:09:16,559 --> 00:09:21,280 Speaker 1: about the future and uh. He turned to me and 151 00:09:21,280 --> 00:09:24,240 Speaker 1: he said, Okay, we've grown all of our share. Um, 152 00:09:24,480 --> 00:09:27,840 Speaker 1: how well would we do if people could watch anything? 153 00:09:29,559 --> 00:09:34,280 Speaker 1: And I thought for a moment, and I said, uh, 154 00:09:36,440 --> 00:09:38,679 Speaker 1: We've made a lot of progress in the last seven years. 155 00:09:38,880 --> 00:09:41,080 Speaker 1: We went from five percent of viewership in the US 156 00:09:41,160 --> 00:09:43,960 Speaker 1: to thirteen And I said, I think we'd probably be 157 00:09:44,040 --> 00:09:48,320 Speaker 1: back to five because a lot of our content, it's 158 00:09:48,360 --> 00:09:53,040 Speaker 1: great quality content, but it's second choice a lot of it, 159 00:09:53,120 --> 00:09:55,720 Speaker 1: and our brands aren't strong enough. And so it was 160 00:09:55,800 --> 00:09:58,400 Speaker 1: that day five years ago that we began the fight 161 00:09:58,480 --> 00:10:03,160 Speaker 1: to change ourselves from a tradition media company to add 162 00:10:03,200 --> 00:10:06,360 Speaker 1: a global I P company, And we started to change 163 00:10:06,640 --> 00:10:09,680 Speaker 1: the kind of content that we bought produced, and we 164 00:10:09,840 --> 00:10:14,000 Speaker 1: changed the way we looked at our brands and UH. 165 00:10:15,000 --> 00:10:17,680 Speaker 1: That journey got us into sports in Europe, where we 166 00:10:17,720 --> 00:10:21,280 Speaker 1: bought Eurosport two to three sports channels. It was one 167 00:10:21,320 --> 00:10:23,880 Speaker 1: of the reasons we bought the Olympics. In each case, 168 00:10:24,000 --> 00:10:26,319 Speaker 1: the question was not how would this do at eight 169 00:10:26,320 --> 00:10:30,640 Speaker 1: o'clock at night, but as this content that people would 170 00:10:30,679 --> 00:10:32,880 Speaker 1: watch if they could watch anything. And in the last 171 00:10:33,000 --> 00:10:39,400 Speaker 1: year or two it's gotten really a more a tougher question, 172 00:10:39,440 --> 00:10:42,840 Speaker 1: which is will people pay for this content before they'll 173 00:10:42,840 --> 00:10:46,440 Speaker 1: pay for dinner. That's why we bought the rights to 174 00:10:46,760 --> 00:10:51,559 Speaker 1: the PGA Tour everywhere in the world outside the US. UH, 175 00:10:51,559 --> 00:10:53,720 Speaker 1: that's why we bought most of the cycling in Europe 176 00:10:53,760 --> 00:10:56,280 Speaker 1: and most and all the majors in tennis, and that's 177 00:10:56,320 --> 00:11:00,800 Speaker 1: why we're doubling down and continuing to invest aggressively with 178 00:11:00,840 --> 00:11:04,839 Speaker 1: Oprah and candidly. That's why we bought Scripts and this 179 00:11:05,000 --> 00:11:06,800 Speaker 1: has been a great growth here. But we were a 180 00:11:06,840 --> 00:11:10,520 Speaker 1: misunderstood company because when we bought Scripts, people thought we 181 00:11:10,600 --> 00:11:13,960 Speaker 1: bought Scripts to get more linear channels and to get synergy. 182 00:11:14,200 --> 00:11:17,520 Speaker 1: We saw Scripts as an I P company that hadn't 183 00:11:17,600 --> 00:11:22,360 Speaker 1: been really UH, that hadn't been taken advantage of globally. 184 00:11:22,679 --> 00:11:27,720 Speaker 1: So we saw it as food, home, cooking, travel and 185 00:11:27,720 --> 00:11:31,360 Speaker 1: and uh and do it yourself. They owned all that 186 00:11:31,440 --> 00:11:35,200 Speaker 1: content and hadn't been used globally. But but not just 187 00:11:35,320 --> 00:11:39,040 Speaker 1: as a linear play. But in the new world, when 188 00:11:39,040 --> 00:11:41,440 Speaker 1: you look at food, when you look at home, aren't 189 00:11:41,440 --> 00:11:46,640 Speaker 1: people gonna want to consume content around those genres everywhere 190 00:11:46,640 --> 00:11:51,720 Speaker 1: in the world on all devices and so um, it's 191 00:11:51,760 --> 00:11:53,560 Speaker 1: been five years and we got a long way to 192 00:11:53,600 --> 00:11:56,719 Speaker 1: go and a lot to learn, but we are in 193 00:11:56,920 --> 00:12:01,080 Speaker 1: We made a real I think, uh, we've had some 194 00:12:01,080 --> 00:12:05,559 Speaker 1: some real acceleration in in changing the way our company 195 00:12:05,640 --> 00:12:08,840 Speaker 1: is seen and saying and the way our content is 196 00:12:08,920 --> 00:12:11,440 Speaker 1: consumed here in the US and around the world. And 197 00:12:11,480 --> 00:12:14,840 Speaker 1: that's why I think our Stakas has has really improved. 198 00:12:19,720 --> 00:12:22,560 Speaker 1: We get a lot of executives and creatives on this podcast, 199 00:12:23,040 --> 00:12:25,160 Speaker 1: but every once in a while we also make time 200 00:12:25,200 --> 00:12:29,839 Speaker 1: for talent. Tyra Banks, Steve Harvey, and Gabrielle Union are 201 00:12:29,880 --> 00:12:33,040 Speaker 1: just a few names you'll recognize. But true to the 202 00:12:33,080 --> 00:12:35,920 Speaker 1: strictly business brand, we didn't talk to these people so 203 00:12:35,960 --> 00:12:38,320 Speaker 1: they could promote their latest projects or tell us who 204 00:12:38,360 --> 00:12:41,120 Speaker 1: they're dating. Let's be honest, there's way too many media 205 00:12:41,160 --> 00:12:44,600 Speaker 1: outlets covering that what we hear less about is the 206 00:12:44,679 --> 00:12:47,800 Speaker 1: business side of celebrity, And what we learned in the 207 00:12:47,800 --> 00:12:51,640 Speaker 1: occasional conversation with performers on this podcast is that many 208 00:12:51,640 --> 00:12:55,120 Speaker 1: of them are every bit the entrepreneur that they are artists, 209 00:12:55,640 --> 00:12:57,679 Speaker 1: and at a time when the paychecks aren't what they 210 00:12:57,760 --> 00:13:00,440 Speaker 1: used to be for Hollywood talent, men of them have 211 00:13:00,559 --> 00:13:04,559 Speaker 1: carved out lucrative side hustles inside and outside of entertainment. 212 00:13:05,240 --> 00:13:07,240 Speaker 1: It was something that began dawning on me in the 213 00:13:07,480 --> 00:13:10,800 Speaker 1: very first episode of Strictly Business when I sat down 214 00:13:10,800 --> 00:13:14,600 Speaker 1: with one of Hollywood's most bankable actors, Kevin Hart, who 215 00:13:14,600 --> 00:13:17,760 Speaker 1: spoke pretty bluntly about his aspirations to not just act, 216 00:13:18,160 --> 00:13:21,720 Speaker 1: but build out an empire. So it sounds like you're 217 00:13:21,880 --> 00:13:25,199 Speaker 1: kind of in the middle of this journey in terms 218 00:13:25,240 --> 00:13:28,559 Speaker 1: of the empire that you're building. I mean, where does 219 00:13:28,600 --> 00:13:31,040 Speaker 1: it go next or there? Or what mountains are you 220 00:13:31,080 --> 00:13:33,520 Speaker 1: looking to conquer? Areas of content you haven't even gone 221 00:13:33,520 --> 00:13:36,680 Speaker 1: to yet. Man, Well, I mean, look, I'm I'm The 222 00:13:36,720 --> 00:13:38,880 Speaker 1: goal of being a mogul was a real one, you know. 223 00:13:39,559 --> 00:13:41,679 Speaker 1: I want to be a mogul. I want to be 224 00:13:41,720 --> 00:13:44,480 Speaker 1: a billionaire. I want to get to a point where 225 00:13:44,720 --> 00:13:47,200 Speaker 1: you look back and you go, damn, this is a 226 00:13:47,240 --> 00:13:51,360 Speaker 1: little dirty kid from Philadelphia that had no idea, uh 227 00:13:51,440 --> 00:13:54,640 Speaker 1: you know, where his life was going to go. And 228 00:13:54,760 --> 00:13:57,240 Speaker 1: once I got an anklet of what I could do, 229 00:13:57,360 --> 00:13:59,360 Speaker 1: I made a decision to give it a hundred percent. 230 00:13:59,720 --> 00:14:03,200 Speaker 1: I got forty people on staff right now. You know 231 00:14:03,280 --> 00:14:06,440 Speaker 1: when I look up and I'm responsible for people's lives 232 00:14:06,440 --> 00:14:09,200 Speaker 1: and livelihoods, and that's a That's a big thing to me, 233 00:14:09,760 --> 00:14:12,200 Speaker 1: the fact that I know that I'm in position to 234 00:14:12,240 --> 00:14:15,559 Speaker 1: do that, and that these people believe in this vision. 235 00:14:15,600 --> 00:14:17,760 Speaker 1: These people are giving me a hundred percent because they 236 00:14:17,800 --> 00:14:20,880 Speaker 1: say we're gonna follow you, keV into the will's fall off, 237 00:14:20,920 --> 00:14:24,160 Speaker 1: because the passion behind your drive and dream is real. 238 00:14:24,680 --> 00:14:27,040 Speaker 1: To me, that's the biggest thing in the world. So 239 00:14:27,360 --> 00:14:29,600 Speaker 1: you know, when I when I have these meetings with 240 00:14:29,640 --> 00:14:32,480 Speaker 1: my team, with my staff, I'm not just selling you 241 00:14:32,520 --> 00:14:34,920 Speaker 1: on today's work. I'm selling you on the future of 242 00:14:34,960 --> 00:14:39,040 Speaker 1: what we can be. Heartbeat Productions will be a big partner. 243 00:14:39,160 --> 00:14:44,440 Speaker 1: Heartbeat Productions will do big studio work. Heartbeat Productions will 244 00:14:44,640 --> 00:14:50,240 Speaker 1: be tomorrow's future company when it comes to development and 245 00:14:50,240 --> 00:14:54,360 Speaker 1: and producing for for any type of film, from comedy 246 00:14:54,480 --> 00:14:56,800 Speaker 1: to to you know your dramas. I want to do 247 00:14:56,840 --> 00:14:59,200 Speaker 1: it all. I can't sit back and watch other people 248 00:14:59,640 --> 00:15:02,320 Speaker 1: be said cessful and give me a blueprint and not 249 00:15:02,560 --> 00:15:05,680 Speaker 1: do it. I just can't. I have too many relationships 250 00:15:05,920 --> 00:15:08,360 Speaker 1: where they let me know how they got there, from 251 00:15:08,400 --> 00:15:11,600 Speaker 1: Oprah to Thailer, to jay Z to Ellen. I have 252 00:15:11,720 --> 00:15:14,200 Speaker 1: too many people in front of me that are doing 253 00:15:14,480 --> 00:15:18,160 Speaker 1: too many amazing things that say this is how I 254 00:15:18,280 --> 00:15:25,600 Speaker 1: did it. For me not to do it. The media 255 00:15:25,680 --> 00:15:29,520 Speaker 1: and entertainment marketplace has transformed into the land of the 256 00:15:29,560 --> 00:15:32,960 Speaker 1: giants over the past twenty years, but every business has 257 00:15:33,000 --> 00:15:36,200 Speaker 1: to start small at some point. I'm always interested to 258 00:15:36,280 --> 00:15:40,320 Speaker 1: hear from entrepreneurs and independent operators about how they're able 259 00:15:40,320 --> 00:15:44,080 Speaker 1: to compete against giant conglomerates in a world whereas we know, 260 00:15:44,440 --> 00:15:50,520 Speaker 1: size matters. Romancanna, CEO of Shaun Combs's Revolt Media company, 261 00:15:51,120 --> 00:15:54,280 Speaker 1: was blunt about the uphill climb of running an independent, 262 00:15:54,400 --> 00:15:58,480 Speaker 1: single cable channel. Revolt TV was born as part of 263 00:15:58,480 --> 00:16:02,000 Speaker 1: a wave of upstart Cape channels in two thousand thirteen, 264 00:16:02,520 --> 00:16:06,280 Speaker 1: when Comcast had to give carriage deals to independent and 265 00:16:06,400 --> 00:16:10,640 Speaker 1: minority owned channels on its cable systems as a condition 266 00:16:10,720 --> 00:16:15,480 Speaker 1: of allowing Comcast to buy NBCUniversal. That sounds like a 267 00:16:15,520 --> 00:16:18,520 Speaker 1: good way to nurture new and diverse owners in the 268 00:16:18,560 --> 00:16:22,920 Speaker 1: TV marketplace, but in reality, it's not that simple. As 269 00:16:23,000 --> 00:16:27,880 Speaker 1: kind of explained in August two thousand nineteen, it all 270 00:16:28,120 --> 00:16:32,520 Speaker 1: started with the right thinking, and you know, we're grateful 271 00:16:32,560 --> 00:16:35,040 Speaker 1: for that. We wouldn't exist but for that. So so 272 00:16:35,200 --> 00:16:38,160 Speaker 1: absolutely is the answer. But you know, I think the 273 00:16:38,280 --> 00:16:41,680 Speaker 1: challenges is that the idea of trying to embrace diversity 274 00:16:41,720 --> 00:16:45,200 Speaker 1: and creating an equal opportunity playing field for voices to 275 00:16:45,760 --> 00:16:50,560 Speaker 1: proliferate really runs into a problem when it's the first 276 00:16:50,600 --> 00:16:54,400 Speaker 1: step of a hundred step race that is unlocked, but 277 00:16:54,520 --> 00:16:57,800 Speaker 1: the next steps still needs support. So we don't have 278 00:16:57,880 --> 00:17:02,280 Speaker 1: full distribution on on most systems comp class Comcast included 279 00:17:02,760 --> 00:17:04,919 Speaker 1: UM and we'd love to have that, but that you know, 280 00:17:05,000 --> 00:17:08,080 Speaker 1: these companies are struggling with their own um you know, 281 00:17:08,160 --> 00:17:11,000 Speaker 1: metrics as they measure their basic packages and their extended 282 00:17:11,040 --> 00:17:15,239 Speaker 1: basic packages. And for us to then compete on an 283 00:17:15,440 --> 00:17:17,960 Speaker 1: on an equal playing field with companies that have got 284 00:17:18,080 --> 00:17:22,560 Speaker 1: better distribution, have been around longer, have have better leverage 285 00:17:22,560 --> 00:17:25,480 Speaker 1: in terms of the portfolios that they're part of. You know, 286 00:17:25,680 --> 00:17:28,760 Speaker 1: that becomes a tough story. It's that, you know, if 287 00:17:28,880 --> 00:17:31,440 Speaker 1: if we want to support diversity of voices in any 288 00:17:31,480 --> 00:17:35,000 Speaker 1: way and in any platform, it can't always just be 289 00:17:35,119 --> 00:17:38,240 Speaker 1: step one and then to be measured by the same 290 00:17:38,240 --> 00:17:42,240 Speaker 1: measuring sticks of companies that have been around for longer, 291 00:17:42,680 --> 00:17:45,240 Speaker 1: in better times and have made it past step one 292 00:17:45,600 --> 00:17:49,760 Speaker 1: into step seventy three. Um, Yet we will get the well, 293 00:17:50,080 --> 00:17:54,000 Speaker 1: you know, your traffic compared to you know MTVS traffic, 294 00:17:54,400 --> 00:17:56,760 Speaker 1: It's not it's not a fair comparison at this moment 295 00:17:56,760 --> 00:17:58,880 Speaker 1: in time, and if you measure us by that stick, 296 00:17:58,960 --> 00:18:01,520 Speaker 1: we will always fail for the next number of years. 297 00:18:01,600 --> 00:18:04,240 Speaker 1: So if we really want diversity, what are the measuring 298 00:18:04,280 --> 00:18:07,800 Speaker 1: tools we're using to allow these voices to grow and 299 00:18:07,840 --> 00:18:11,840 Speaker 1: then truly compete um in a very difficult world of competition. 300 00:18:11,880 --> 00:18:15,040 Speaker 1: I mean, it's it's tough out there, and we understand that. 301 00:18:15,160 --> 00:18:21,200 Speaker 1: We just we want a shot at it. Before we 302 00:18:21,240 --> 00:18:23,440 Speaker 1: continue with this retrospective, I want to tell you about 303 00:18:23,440 --> 00:18:26,560 Speaker 1: an upcoming variety event. Would you and your team like 304 00:18:26,680 --> 00:18:29,080 Speaker 1: to be the first to learn emerging trends shaping the 305 00:18:29,200 --> 00:18:35,240 Speaker 1: entertainment industry's largest marketing campaigns On March, Varieties Entertainment Marketing 306 00:18:35,280 --> 00:18:39,240 Speaker 1: Summit is bringing together top cmos and digital leaders from 307 00:18:39,280 --> 00:18:43,439 Speaker 1: brands like Disney, Hbo, Instagram and more to discuss how 308 00:18:43,480 --> 00:18:47,560 Speaker 1: their revolutionary ideas have changed the landscape of Hollywood. With 309 00:18:47,600 --> 00:18:51,160 Speaker 1: panels that explore the future of omni channel marketing and 310 00:18:51,520 --> 00:18:54,960 Speaker 1: modern formulas to connect with audiences, you will have a 311 00:18:55,080 --> 00:18:57,680 Speaker 1: one of a kind opportunity to listen in on thought 312 00:18:57,720 --> 00:19:02,440 Speaker 1: provoking discussions that are immediately affecting your industry. Visit Variety 313 00:19:02,520 --> 00:19:05,919 Speaker 1: dot com Slash Marketing Summit to register you and your 314 00:19:05,960 --> 00:19:09,760 Speaker 1: team today and see you on March. Now, let's get 315 00:19:09,760 --> 00:19:12,879 Speaker 1: back to the podcast. Strictly, business tries to stay on 316 00:19:12,960 --> 00:19:16,240 Speaker 1: top of the latest developments in the industry, but sometimes 317 00:19:16,240 --> 00:19:19,000 Speaker 1: the industry can move faster than we do. That's what 318 00:19:19,080 --> 00:19:22,960 Speaker 1: happened in June when just twenty four hours before I 319 00:19:23,000 --> 00:19:25,440 Speaker 1: was going to release an episode featuring an interview with 320 00:19:25,560 --> 00:19:29,840 Speaker 1: Condon Nast Entertainment CEO Don Ostrov, she announced she had 321 00:19:29,920 --> 00:19:33,400 Speaker 1: left Conde Nast for a big new job at Spotify. 322 00:19:33,520 --> 00:19:36,520 Speaker 1: We published the interview anyway, of course, and in truth 323 00:19:36,960 --> 00:19:40,320 Speaker 1: the challenges she spoke of adapting to digital media after 324 00:19:40,359 --> 00:19:43,560 Speaker 1: a long career in TV proved just as relevant to 325 00:19:43,600 --> 00:19:46,240 Speaker 1: her now that she's in yet another very different world 326 00:19:46,560 --> 00:19:50,960 Speaker 1: creating audio programming. Your career, you spend most of the 327 00:19:51,040 --> 00:19:55,600 Speaker 1: time shepherding these traditional long form things, and now you're saying, 328 00:19:55,920 --> 00:19:58,280 Speaker 1: you're programming to a platform where the old rules just 329 00:19:58,359 --> 00:20:01,080 Speaker 1: don't apply. So how are you learn in the new rules? 330 00:20:01,080 --> 00:20:03,280 Speaker 1: It has been an m b A for me, I 331 00:20:03,320 --> 00:20:06,760 Speaker 1: mean it, and it's so humbling because honestly, I came 332 00:20:06,800 --> 00:20:11,320 Speaker 1: into this opportunity thinking I can do this because if 333 00:20:11,359 --> 00:20:13,840 Speaker 1: you have success on traditional and you you know, gossip 334 00:20:13,840 --> 00:20:17,159 Speaker 1: Girl at one point was the biggest show in the country, right, 335 00:20:17,280 --> 00:20:21,520 Speaker 1: every young person talked about it, you know, read everything 336 00:20:21,560 --> 00:20:25,120 Speaker 1: that they could get their hands on about about our cast. Um. 337 00:20:25,160 --> 00:20:28,480 Speaker 1: But it really was eye opening to understand that the 338 00:20:28,520 --> 00:20:31,600 Speaker 1: way in which we make the content for the digital 339 00:20:31,600 --> 00:20:34,120 Speaker 1: space has nothing to do with the way we would 340 00:20:34,200 --> 00:20:38,280 Speaker 1: create television ideas. Um. You know, it's it. There's there's 341 00:20:38,400 --> 00:20:41,919 Speaker 1: a understanding of what the viewer expectation is when they're 342 00:20:41,920 --> 00:20:45,199 Speaker 1: watching content on any one of those platforms, and you 343 00:20:45,280 --> 00:20:48,640 Speaker 1: have to really adhere to be either a format that 344 00:20:49,000 --> 00:20:52,840 Speaker 1: is the expectation, or a storytelling style or a way 345 00:20:52,840 --> 00:20:56,040 Speaker 1: in which you shoot something that really does help determ 346 00:20:56,040 --> 00:20:57,679 Speaker 1: and if something is going to be a success or 347 00:20:57,720 --> 00:21:00,240 Speaker 1: not and qualities quality, So it has to be good 348 00:21:00,280 --> 00:21:03,040 Speaker 1: and has to be worthy of people's time. But it 349 00:21:03,119 --> 00:21:07,880 Speaker 1: really is very very specific about how the storyteller and 350 00:21:07,920 --> 00:21:11,359 Speaker 1: how the the director really does bring that story to 351 00:21:11,440 --> 00:21:18,960 Speaker 1: life on those platforms. Christina Wayne is a well regarded 352 00:21:19,000 --> 00:21:21,800 Speaker 1: TV producer who made her name in the creative community 353 00:21:21,840 --> 00:21:24,440 Speaker 1: when she was the top development executive at a MC. 354 00:21:25,200 --> 00:21:28,320 Speaker 1: When you green light the pilots for Madmen and Breaking Bad, 355 00:21:28,600 --> 00:21:31,080 Speaker 1: you get a reputation as having an eye for quality. 356 00:21:31,760 --> 00:21:36,080 Speaker 1: I was pleasantly surprised in this interview from October when 357 00:21:36,160 --> 00:21:38,800 Speaker 1: Christina opened up about how hard it is to sell 358 00:21:38,840 --> 00:21:42,720 Speaker 1: shows despite the enormous increase in the overall demand for content. 359 00:21:43,320 --> 00:21:46,280 Speaker 1: It takes an industry insider to get beyond the surface 360 00:21:46,359 --> 00:21:50,720 Speaker 1: hype around peak TV. In our conversation, Christina touched on 361 00:21:50,760 --> 00:21:54,040 Speaker 1: the real problems of working in a frenzied market with 362 00:21:54,200 --> 00:21:58,600 Speaker 1: unsustainable levels of money and capital chasing talent and producers. 363 00:21:59,800 --> 00:22:01,879 Speaker 1: So all of a sudden, a bunch of new buyers 364 00:22:01,920 --> 00:22:04,600 Speaker 1: came to the market and we would take stuff out 365 00:22:04,680 --> 00:22:07,440 Speaker 1: and over the first two years of having my company, 366 00:22:07,800 --> 00:22:10,720 Speaker 1: we sold pretty much everything we took to the market. 367 00:22:10,840 --> 00:22:14,560 Speaker 1: There were about i'd say thirteen fourteen shows that we 368 00:22:14,640 --> 00:22:17,479 Speaker 1: took out and they all went into development. Not all 369 00:22:17,520 --> 00:22:20,399 Speaker 1: of them got made, but um, one or two of 370 00:22:20,440 --> 00:22:23,399 Speaker 1: them got made, which is kind of the ratio. You 371 00:22:23,440 --> 00:22:26,080 Speaker 1: have one out of ten usually is your ratio of 372 00:22:26,119 --> 00:22:29,560 Speaker 1: what you're hoping for the last two years of being 373 00:22:29,600 --> 00:22:33,000 Speaker 1: a producer. Now, with all the platforms, there is such 374 00:22:33,000 --> 00:22:36,159 Speaker 1: a huge demand for content that one would assume that 375 00:22:36,200 --> 00:22:39,200 Speaker 1: being a producer would make my life much easier. It's 376 00:22:39,240 --> 00:22:42,240 Speaker 1: actually made it more difficult. What has happened is that 377 00:22:42,720 --> 00:22:45,959 Speaker 1: TV is such an incredible medium now. It is so 378 00:22:46,080 --> 00:22:48,920 Speaker 1: high level the programming that's being made. You have every 379 00:22:49,000 --> 00:22:55,560 Speaker 1: A list showrunner, actor, director coming with their passion project. 380 00:22:56,000 --> 00:22:58,840 Speaker 1: So I often find myself waiting to take out a 381 00:22:58,880 --> 00:23:02,480 Speaker 1: show to the buyers and you have Germo del Toro 382 00:23:02,680 --> 00:23:05,239 Speaker 1: sitting in the waiting room, you have George Clooney, you 383 00:23:05,280 --> 00:23:09,560 Speaker 1: have every single top level person who's you know, Garmo 384 00:23:09,640 --> 00:23:13,040 Speaker 1: had just won an Academy Award, and you're sitting there going, oh, yeah, 385 00:23:13,119 --> 00:23:16,400 Speaker 1: my little great show, Um, what do we have. So 386 00:23:16,600 --> 00:23:19,560 Speaker 1: it definitely has become more difficult. And I have noticed 387 00:23:19,600 --> 00:23:23,480 Speaker 1: that unless you package your show to the nth degree, 388 00:23:24,040 --> 00:23:28,640 Speaker 1: it does not sell. You're talking about soup Ton's with writers, showrunner, 389 00:23:28,760 --> 00:23:32,760 Speaker 1: star director, the whole. You don't necessarily need a line 390 00:23:32,760 --> 00:23:35,000 Speaker 1: producer because they can always hire that, because that's not 391 00:23:35,000 --> 00:23:38,040 Speaker 1: going to be You need somebody competent, but they're not 392 00:23:38,080 --> 00:23:39,760 Speaker 1: going to look at that as the sort of bells 393 00:23:39,760 --> 00:23:44,680 Speaker 1: and whistles of must make TV. And so right now 394 00:23:44,760 --> 00:23:47,760 Speaker 1: the game is straight to series orders with a list talent. 395 00:23:48,640 --> 00:23:51,359 Speaker 1: And you know, you see that with Reese Witherspoon's company, 396 00:23:51,440 --> 00:23:53,560 Speaker 1: you see that with all of these packages now that 397 00:23:53,560 --> 00:23:57,159 Speaker 1: are going out. Um, and so I have now moved 398 00:23:57,240 --> 00:24:02,120 Speaker 1: from being focused solely on develop Lipman to also being 399 00:24:02,119 --> 00:24:05,000 Speaker 1: a packager, which really was never that was always an 400 00:24:05,000 --> 00:24:09,720 Speaker 1: agent's job, and so it has really sort of taken 401 00:24:09,720 --> 00:24:13,760 Speaker 1: over what I do, and UM, I do it, and 402 00:24:13,840 --> 00:24:15,840 Speaker 1: thankfully I've been in the business long enough that it's 403 00:24:15,840 --> 00:24:18,840 Speaker 1: not impossible, but it certainly is not what I came 404 00:24:18,880 --> 00:24:21,920 Speaker 1: to the business to do. So it's quite different than 405 00:24:21,960 --> 00:24:28,639 Speaker 1: when I started. The fun thing about looking back at 406 00:24:28,680 --> 00:24:32,399 Speaker 1: the past one episodes is that sometimes there are exchanges 407 00:24:32,440 --> 00:24:35,320 Speaker 1: you have with an interview subject that seemed unremarkable in 408 00:24:35,400 --> 00:24:38,119 Speaker 1: the moment but turned out to be pretty damn significant 409 00:24:38,160 --> 00:24:41,040 Speaker 1: in retrospect. I didn't think much of the time about 410 00:24:41,040 --> 00:24:43,879 Speaker 1: the answers given to the very last questions I asked 411 00:24:44,119 --> 00:24:47,679 Speaker 1: Erica Nardini, CEO of one of the hottest sensations in 412 00:24:47,720 --> 00:24:51,199 Speaker 1: media right now, bar Stool Sports. When I interviewed her 413 00:24:51,280 --> 00:24:55,879 Speaker 1: last October, considering barstool recently sold a minority stake of 414 00:24:55,920 --> 00:24:59,280 Speaker 1: its company to a gambling operation, she was given me 415 00:24:59,400 --> 00:25:03,639 Speaker 1: pretty latent clues about where her company's future lay, And 416 00:25:03,680 --> 00:25:06,320 Speaker 1: at the time, those clues went right over my head. 417 00:25:06,880 --> 00:25:09,040 Speaker 1: Is it possible that to get that big you need 418 00:25:09,119 --> 00:25:12,440 Speaker 1: to be acquired by the Disney's or Viacoms of the world. 419 00:25:12,520 --> 00:25:14,800 Speaker 1: Is that the endgame? I don't know, what you know, 420 00:25:15,000 --> 00:25:17,560 Speaker 1: Dave and I always laugh about this, which is people say, 421 00:25:17,680 --> 00:25:20,440 Speaker 1: you know, what's your five year plan? What's the seven 422 00:25:20,520 --> 00:25:23,480 Speaker 1: year plan? And we always say, we don't know. Um. 423 00:25:23,560 --> 00:25:25,960 Speaker 1: And that's not to say we're not strategic, nor to 424 00:25:26,080 --> 00:25:29,760 Speaker 1: say that we're not thoughtful about where we want to 425 00:25:29,840 --> 00:25:32,919 Speaker 1: go or what we want to do. But what I 426 00:25:32,960 --> 00:25:36,720 Speaker 1: think we are at our core is really passionate and 427 00:25:37,040 --> 00:25:41,720 Speaker 1: opportunistic so you know, yes, would we like guns money 428 00:25:41,720 --> 00:25:44,560 Speaker 1: and steal from a big media company to be in 429 00:25:44,600 --> 00:25:48,240 Speaker 1: and around our business. Definitely. The things we could do 430 00:25:48,520 --> 00:25:52,320 Speaker 1: to drive linear the things we can do to grow personalities, 431 00:25:52,320 --> 00:25:54,400 Speaker 1: the things we can do to create brands, I think 432 00:25:54,520 --> 00:25:59,560 Speaker 1: is unparalleled. Um that said, you know, we're profitable company now, 433 00:25:59,600 --> 00:26:02,199 Speaker 1: We're growing incredibly quickly. We are at the top of 434 00:26:02,240 --> 00:26:05,000 Speaker 1: our game in the fields that we are in. I 435 00:26:05,040 --> 00:26:08,680 Speaker 1: also see a path where we grow independently pretty successfully. 436 00:26:09,119 --> 00:26:10,879 Speaker 1: So you know, I think it's a long way of 437 00:26:10,880 --> 00:26:13,800 Speaker 1: saying we don't know what the future holds. We're incredibly 438 00:26:13,840 --> 00:26:16,119 Speaker 1: open to what that future looks like. Well that's the 439 00:26:16,200 --> 00:26:18,800 Speaker 1: last question. Where else are you guys going to go 440 00:26:18,840 --> 00:26:22,119 Speaker 1: that we need to pay attention to going into You 441 00:26:22,160 --> 00:26:24,360 Speaker 1: need to pay attention to sports betting. So I think 442 00:26:24,400 --> 00:26:27,600 Speaker 1: that we will be a force in sports betting, in 443 00:26:27,680 --> 00:26:30,160 Speaker 1: the type of content we create, in the way we 444 00:26:30,200 --> 00:26:34,600 Speaker 1: create it, in the level of passion and originality, and 445 00:26:34,680 --> 00:26:37,000 Speaker 1: in what we do. So sports betting is a place 446 00:26:37,040 --> 00:26:44,280 Speaker 1: you should definitely look out for us. Globalization is a 447 00:26:44,320 --> 00:26:48,480 Speaker 1: big buzzword in entertainment these days. Every CEO will tell 448 00:26:48,520 --> 00:26:51,600 Speaker 1: you that future growth is largely coming from outside the US. 449 00:26:52,160 --> 00:26:54,560 Speaker 1: But what does that mean on a granular level for 450 00:26:54,640 --> 00:26:58,919 Speaker 1: content focused executives in the US entertainment industry. I had 451 00:26:59,000 --> 00:27:01,360 Speaker 1: heard about an initial David End Them All Shine North 452 00:27:01,440 --> 00:27:06,480 Speaker 1: America to incorporate Spanish language program development from Mexico and 453 00:27:06,640 --> 00:27:09,800 Speaker 1: other non US markets into the same core team in 454 00:27:09,880 --> 00:27:14,000 Speaker 1: Hollywood that handles the company's English language offerings. I made 455 00:27:14,040 --> 00:27:16,639 Speaker 1: a point of getting End Them All Shine North America's CEO, 456 00:27:16,840 --> 00:27:19,840 Speaker 1: Chris Abrego down for the podcast so we could talk 457 00:27:19,880 --> 00:27:23,040 Speaker 1: about his approach in detail. One thing we really did 458 00:27:23,280 --> 00:27:24,840 Speaker 1: was to work much like we did with even our 459 00:27:24,880 --> 00:27:28,040 Speaker 1: subsidiaries here in the US, we really kind of had 460 00:27:28,080 --> 00:27:31,320 Speaker 1: to flow through um in terms of how we operated. 461 00:27:31,400 --> 00:27:34,280 Speaker 1: So with truly original or fifty one minds are authentic, 462 00:27:34,880 --> 00:27:36,439 Speaker 1: you know, we brought them the formats that we had 463 00:27:36,640 --> 00:27:38,479 Speaker 1: from us that if we weren't going to work on them, 464 00:27:38,520 --> 00:27:41,560 Speaker 1: it didn't make sense for North America. We would then 465 00:27:41,600 --> 00:27:44,880 Speaker 1: funnel them to these guys, especially if it made sense 466 00:27:44,960 --> 00:27:48,159 Speaker 1: in their specific relationships and buyers. We thought, if that 467 00:27:48,200 --> 00:27:51,000 Speaker 1: strategy is working so well, and truly Originals have so 468 00:27:51,080 --> 00:27:53,800 Speaker 1: much success, and trifly one minds having much success, why 469 00:27:53,800 --> 00:27:56,000 Speaker 1: wouldn't we apply that just because it's another country doesn't 470 00:27:56,000 --> 00:27:59,920 Speaker 1: mean with the treated different. And and it seems simple enough, 471 00:28:00,080 --> 00:28:01,920 Speaker 1: but everyone you talk to they want to treat this 472 00:28:02,080 --> 00:28:05,480 Speaker 1: minute you say in Mexico. They think different department, different group, 473 00:28:05,680 --> 00:28:08,080 Speaker 1: different part of the company. And it was hard to 474 00:28:08,200 --> 00:28:12,520 Speaker 1: fight that and even internally, but we we worked hard 475 00:28:12,560 --> 00:28:14,840 Speaker 1: to integrate it and make it just part of our business, 476 00:28:15,280 --> 00:28:17,360 Speaker 1: so much that when we closed the deal with boom Dog, 477 00:28:18,240 --> 00:28:21,239 Speaker 1: two things happened. We took the entire senior staff here 478 00:28:21,280 --> 00:28:24,560 Speaker 1: to Mexico City for a week and integrated the companies. 479 00:28:24,640 --> 00:28:26,560 Speaker 1: And so they met there. They're kind of their parents, 480 00:28:26,640 --> 00:28:29,080 Speaker 1: and there are other people who shared similar responsibilities, and 481 00:28:29,359 --> 00:28:33,639 Speaker 1: we shared advance practices. And to the here at Animal 482 00:28:33,680 --> 00:28:37,320 Speaker 1: Shine UH in North Hollywood, they start taking Spanish classes, 483 00:28:38,280 --> 00:28:40,880 Speaker 1: so everyone so you can check. Now there's a lot 484 00:28:40,920 --> 00:28:43,240 Speaker 1: of Spanish speakers in this company. Now, you know, think 485 00:28:43,240 --> 00:28:45,640 Speaker 1: about our in our business affairs. So we've brought in, 486 00:28:45,800 --> 00:28:48,800 Speaker 1: you know, people who obviously are bilingual, and for both 487 00:28:48,880 --> 00:28:52,640 Speaker 1: contracts and working with legal people in Mexico, we don't 488 00:28:53,400 --> 00:28:56,000 Speaker 1: We obviously recognize that it's two different countries and there's 489 00:28:56,000 --> 00:28:58,760 Speaker 1: certain laws and certain practices that we have to adhere 490 00:28:58,760 --> 00:29:01,120 Speaker 1: to UH, in which we want to be aware of. 491 00:29:01,600 --> 00:29:04,480 Speaker 1: But when you get below that in terms of creative process, 492 00:29:04,560 --> 00:29:08,080 Speaker 1: in terms of pitching characters, casting, finding the best producer 493 00:29:08,160 --> 00:29:10,960 Speaker 1: that you know, because for us, the one thing that 494 00:29:11,400 --> 00:29:13,240 Speaker 1: I think that we do really well in em Shine 495 00:29:13,360 --> 00:29:16,320 Speaker 1: is we stay focused on We know that the most 496 00:29:16,360 --> 00:29:19,120 Speaker 1: important things who's making the show. It's one thing that 497 00:29:19,120 --> 00:29:21,600 Speaker 1: who's selling it, it's one thing who created it, but 498 00:29:21,720 --> 00:29:24,600 Speaker 1: it really we focus on who's making it. Undoubtedly that 499 00:29:24,680 --> 00:29:27,240 Speaker 1: comes from your background as a producer in the trenches 500 00:29:27,440 --> 00:29:30,560 Speaker 1: with you know, sleeves rolled up making the show. Yeah, 501 00:29:30,880 --> 00:29:32,560 Speaker 1: it really it's like who's going to be on set 502 00:29:32,920 --> 00:29:35,360 Speaker 1: and delivering this story and these characters and driving this 503 00:29:35,520 --> 00:29:38,880 Speaker 1: narrative or this competition whatever the show might be about. 504 00:29:39,760 --> 00:29:41,800 Speaker 1: And that's what we're focused on. And that's actually becoming 505 00:29:41,800 --> 00:29:45,080 Speaker 1: our biggest challenge in these in these other territories, including Brazil, 506 00:29:45,680 --> 00:29:49,920 Speaker 1: is UH finding more of those people who can do 507 00:29:50,040 --> 00:29:56,440 Speaker 1: that premium content. It's been a real honor to have 508 00:29:56,560 --> 00:29:59,000 Speaker 1: some of the biggest names in the business on our podcast, 509 00:29:59,360 --> 00:30:02,200 Speaker 1: but honestly, that's not what interests me most when I'm 510 00:30:02,240 --> 00:30:05,640 Speaker 1: picking people to interview. Don't get me wrong. CEOs are 511 00:30:05,760 --> 00:30:08,160 Speaker 1: nice to talk to, but we've also had c t 512 00:30:08,360 --> 00:30:12,160 Speaker 1: o s to talk about technology, CFOs to talk finance. 513 00:30:12,560 --> 00:30:15,360 Speaker 1: We've had several interviews with heads of marketing at companies 514 00:30:15,440 --> 00:30:19,800 Speaker 1: like Marvel, Viacom, and HBO. Maybe these role players aren't 515 00:30:19,840 --> 00:30:22,280 Speaker 1: the most glamorous types to read about in the headlines, 516 00:30:22,760 --> 00:30:26,040 Speaker 1: but Strictly Business is just as much about the role players, 517 00:30:26,440 --> 00:30:29,000 Speaker 1: because it's through them we can drill down into all 518 00:30:29,080 --> 00:30:32,160 Speaker 1: the many different pieces that make up the media machine. 519 00:30:32,960 --> 00:30:35,080 Speaker 1: I'm also proud of the way Strictly Business often looks 520 00:30:35,160 --> 00:30:39,240 Speaker 1: past the usual suspects in TV, film and tech to 521 00:30:39,360 --> 00:30:42,520 Speaker 1: find interview subjects from industries you may not be exposed 522 00:30:42,560 --> 00:30:47,120 Speaker 1: to as much like radio, publishing, video games. I can 523 00:30:47,240 --> 00:30:50,240 Speaker 1: honestly say doing this podcast is brought in my horizons, 524 00:30:50,560 --> 00:30:52,480 Speaker 1: and I hope it's done the same for our listeners. 525 00:30:53,160 --> 00:30:55,520 Speaker 1: For example, the last interview I want to highlight in 526 00:30:55,560 --> 00:30:57,800 Speaker 1: this episode may have been the most obscure one I 527 00:30:57,880 --> 00:31:01,120 Speaker 1: did in the entire run of Strictly busines this st 528 00:31:01,400 --> 00:31:05,560 Speaker 1: X Entertainments Virtual Reality division, which was actually shut down 529 00:31:05,680 --> 00:31:08,800 Speaker 1: not long after the interview aired. Listen to this and 530 00:31:08,920 --> 00:31:13,240 Speaker 1: you won't be surprised why the VR division might be 531 00:31:13,320 --> 00:31:15,640 Speaker 1: in the basement or something. It's it's sort of like 532 00:31:15,840 --> 00:31:19,280 Speaker 1: if it's even there, it's you know, it's an experimental 533 00:31:19,720 --> 00:31:23,840 Speaker 1: part of the company where it's it's really about the 534 00:31:24,200 --> 00:31:29,640 Speaker 1: marketing assets that they could create versus the original content opportunity. 535 00:31:29,840 --> 00:31:33,280 Speaker 1: And also how can we actually build a business around 536 00:31:33,400 --> 00:31:36,320 Speaker 1: this new medium and utilize all the best, you know, 537 00:31:36,480 --> 00:31:38,719 Speaker 1: facets of of what we have to offer as a studio. 538 00:31:38,760 --> 00:31:41,400 Speaker 1: And so for us, that was a really strong proposition. Well, 539 00:31:41,520 --> 00:31:43,800 Speaker 1: on the other hand, I can understand why other studios 540 00:31:43,880 --> 00:31:46,520 Speaker 1: may treat this is am more let's call it marginal 541 00:31:46,680 --> 00:31:49,680 Speaker 1: pursuit as I see it, and we could talk about 542 00:31:49,720 --> 00:31:53,600 Speaker 1: it if you disagree. The market for VR entertainment is 543 00:31:53,760 --> 00:31:58,240 Speaker 1: not quite there, even by the most i'd say charitable assessment. 544 00:31:58,840 --> 00:32:03,000 Speaker 1: So any company like STX that put serious investment in this, 545 00:32:03,200 --> 00:32:05,360 Speaker 1: there's risk that there's just not a market there for 546 00:32:05,480 --> 00:32:09,800 Speaker 1: that content. Is that assessment off base? I think it's 547 00:32:09,840 --> 00:32:13,240 Speaker 1: a it's a fair assessment. But you know, the level 548 00:32:13,320 --> 00:32:16,960 Speaker 1: of investment that we're making is actually very responsible. I 549 00:32:17,040 --> 00:32:19,840 Speaker 1: think what we're not doing is going out on day 550 00:32:19,880 --> 00:32:22,960 Speaker 1: one and just spending a ton of money and hoping 551 00:32:23,000 --> 00:32:25,000 Speaker 1: we're going to get our money back. We spent a 552 00:32:25,040 --> 00:32:29,880 Speaker 1: lot of time early on UM developing thoughtful strategies and 553 00:32:29,960 --> 00:32:32,560 Speaker 1: a business plan around this. We knew that we in 554 00:32:32,840 --> 00:32:37,720 Speaker 1: in in pursuing original content, original VR movies. It wasn't 555 00:32:37,760 --> 00:32:40,800 Speaker 1: going to be free content. We knew we had to 556 00:32:40,920 --> 00:32:43,200 Speaker 1: monetize the content right, and so we had to really 557 00:32:43,320 --> 00:32:47,320 Speaker 1: look at how how big is this market? How big 558 00:32:47,440 --> 00:32:49,400 Speaker 1: is this market going to be? In twelve months twenty 559 00:32:49,440 --> 00:32:54,640 Speaker 1: four months, Thanks for joining us to revisit some of 560 00:32:54,680 --> 00:32:57,440 Speaker 1: the great interviews we've enjoyed doing on the Strictly Business 561 00:32:57,520 --> 00:33:00,320 Speaker 1: podcast for the past two years. After all this time, 562 00:33:00,360 --> 00:33:02,440 Speaker 1: I must admit I feel like I'm just getting started. 563 00:33:02,920 --> 00:33:05,120 Speaker 1: But as for this episode, we're coming to a close. 564 00:33:05,600 --> 00:33:08,040 Speaker 1: I want to thank Cynthia for being a great podcast 565 00:33:08,160 --> 00:33:11,200 Speaker 1: partner and thanks to you, our loyal listeners. We love 566 00:33:11,280 --> 00:33:13,560 Speaker 1: to hear from you and hope you'll be sticking around 567 00:33:13,680 --> 00:33:19,040 Speaker 1: for the next one episodes. H