Exclusive outtakes from industry leaders
In the run-up to the annual Reuters Media Summit, taking place in New York and London next week, we have been asking experts and executives how they think media companies should reinvent themselves for the 21st Century.
Will the big need to get bigger? See Comcast’s bid for a controlling stake in NBC Universal.
Or will it be a question of being slimmer and more focused? Like Time Warner, which is now essentially a pure content company after spinning off Time Warner Cable in March and AOL next week.
All these businesses are heavily impacted by the Web as a distribution tool and they are doing various things to counter that. But it won’t be easy, say analysts in our Summit preview. While content will continue to be extremely valuable, content owners will need to figure out how to make money from the Web and other new platforms of distribution.
John Woolard, the chief executive of solar thermal energy company BrightSource, sat down at Reuters’ Global Climate and Alternative Energy Summit in San Francisco to talk about energy efficiency, project financing and the future of carbon-free power.
His advice: build fast!
(Editing/video by Courtney Hoffman)
Most top technology executives are used to juggling businesses worth hundred of millions of dollars, yen or euros. But this week at the Reuters Technology Summit, we asked: if we gave you $1 million to invest anywhere -- but not in your own company -- where would you spend it?
INTERNET / STARTUPS
If you want the quick answer, I would invest it in Twitter. I'm sorry that we weren't in it. I don't know where it's going and it would be a fun ride.
In the adrenalin-fueled world of Internet start-ups, where "Biz" is usually followed by "Dev," where did Twitter co-founder Biz Stone get his nickname?
After talking to the Reuters Technology Summit of growth rates and future revenue possibilities, the Twitter co-founder chatted with the Reuters San Francisco bureau about his unusual moniker and why it can pose traveling hiccups.
Twitter co-founder Biz Stone told the Reuters Global Technology Summit on Monday that unless Twitter's growth rate slowed, by the end of the year its user base would exceed the population of Planet Earth.
Break out those calculators, nerds!
Tech managers are not just savvy about new technology but also own the coolest, most cutting edge gadgets, right? Think again, some of them have no use for gadgets at all, finding pleasure instead in century old paintings and (gasp) pen and paper.
How do entertainment retailers come up with the prices they charge? Why is a movie theater ticket $10, a music CD $15, a rental DVD $3-$5 and a top video game $60?
We asked Strauss Zelnick, executive chairman of game publisher Take-Two. He says it's simple math, based upon the value of that experience.
Advertising at the highest end of the luxury market may be the last to get hit in an economic slump, but it's still going to get scathed before the ad market turns around, Nick Brien, who heads up Interpublic Group's Mediabrands, a holding company for media buying and planning agencies, told the Reuters Media Summit in New York.
"There will always be some brands and marketers who are going to want to live beyond the realities that are going on for the masses of people," said Brien, who's responsible for agencies like Universal McCann, Initiative, Magna, and J3 . "That will go on... (but) will it be as pronounced as it was, will be it as mainstream?"
Global strategy aside, Dow Jones Editor-in-Chief Robert Thomson sees a growth opportunity right here on his home turf. With regional U.S. papers laying off staff and scaling back business coverage, Thomson sees a "real opportunity for another paper to come in."
And yes, that would be The Wall Street Journal. "What we're noticing in markets like Chicago, LA and Miami... big city markets with papers that are changing, there are real opportunities to bring new readers to print as well as online," Thomson said at the Reuters Media Summit in New York.