Booth showed up to support the 3rd annual 2017 PULSE Media, Entertainment, and Technology Conference hosted by UCLA Anderson on February 10th. Bringing together some of the media and entertainment business’ heavy hitters including President and CEO of CBS Corporation, Les Moonves, President and CEO of the LA Dodgers, Stan Kasten, and CEO of Def Jam Recordings, Steve Bartels. Diving into the dynamic intersection of content, technology and data, the conference addressed how disruptors like Netflix and Amazon are changing the way traditional media companies operate across the board. The conference showed that all sectors including sports, music, live performances, and television are facing the ripple effects of streaming content and smaller start up innovations that appeal to growing audience of digital savvy consumers.
Many of the key innovations coming out of tech like VR and augmented reality, are important spaces that these traditional media outlets are looking to play in. The Chief Strategy Officer of AEG Live, Ron Chiu, said on a panel called Larger than Live: Monetizing the Experiential Economy, that during Coachella, AEG sent out Google Cardboards to ticket holders before the show, so that they could experience the venue on VR before the actual show. Chui said, “This experience helped create buzz around the highly popular Coachella concert and was a pilot for innovating around live music experiences within the VR space.” Also mobile, streaming video, and VR are infusing its way into sporting events, with ESPN launching content from NCAA March Madness and Super Bowl Sunday exclusively available on their digital platform. Moonves.
With streaming music like Spotify, Pandora and I-Tunes capturing the ears of millions of music fans, traditional labels like Def Jam are getting their artists music out to the listeners with more breadth than ever before. Steve Bartels commented on how when he’s looking to sign artists, social media, data and analytics play a much larger role in the scouting process for new talent. He also said the streaming services are actually helping the brand of his artists and getting their music introduced to new audiences. Jason Miller, Sr. VP of International and Emerging Markets, Live Nation during a panel said that holograms of famous pop stars who have deceased like Michael Jackson, would be a major part of live performance experience as he believes people will pay big bucks to see these icons perform again.
According to a PWC study on the entertainment and media industry, currently there is a rapid transition from the traditional programmer (NBC, FOX, HBO) and operator (COMCAST, AT&T, Time Warner) business model to a direct-to-consumer world (NETFLIX), where most content will remain the same — at first, anyway — but the packaging and distribution will change significantly. Specifically, the expansion of digital technology will foster connectivity, enabling growing numbers of connected devices and new routes to the user. This is altering the industry’s structure, driving new ways to produce, distribute, and monetize content across its landscape.