I love reading the New Tee Vee blog every day and video is an increasingly important aspect of the music business. Think about it – the majority of music is listened to on a device with a screen! I think I was the only music exec at New Tee Vee Live, but it was worth the trip – although the question “is the tv business going the way of the record business?” and the “we wont make the same mistakes as the music biz” quotes were slightly annoying.
So what are the broader trends and how do they apply to music? Here are a few quotes from some of the speakers, and some of the interesting things I heard during the panels.
EVP of Digital Media,
MTVN Entertainment Group
Hits are Hits. Eric explained that hit tv shows have big video numbers online, and shows with lower ratings have lower views. It’s a one to one relationship, and he said there seems to be no erosion in the ratings of popular shows by having them streaming online.
“Don’t underestimate the mass of passive”
Great point and a classic quote. People don’t want to spend tons of time looking around to watch what they want on you tube, torrents and other on demands sites. It’s more that programming for the mass doesn’t meet their needs anymore. If possible, most consumers would rather lean back and just get great programming that was relevant to them, instead of having to seek it out.
Now think of the long tail, radio, and music. Applying Eric’s comment to the much hyped long tail I agree its probably not the “solution”. It’s really about better music, engaging artists, and better programming.
General Manager of NFL Online,
National Football League
The internet turned the niche activity of fantasy football into a main stream pastime, and as a result, grew the audience for the NFL. Laura explained how fantasy football drives demand – now you need to watch all the games! Very clever. The advantage is football is a closed network – to watch all the games in real time you have to pay!
The Roku video player is an on demand video box with over 50,000 titles. Now they are opening their platform to anyone who wants to make a “channel” on their box. Their install base seems low, but is this a chance for someone to make a new type of music service? Seems like the infrastructure and hardware is in place.
Nothing music related here, but I had no idea pbs launched the coolest video sites of all the networks!
SVP of Marketing and Customer Experience,
Redbox offers kiosks in retails stores that rent dvd’s for a dollar. The talk was that some of the studios were upset about the impact of “substitutionally” of redbox rentals on dvd sales.
Substitution for purchase is something we talk about a lot in the music biz, with you tube, piracy, and streaming services such as myspace. Gary denied those claims, and said redbox did research to show there was less that 1% substitution for purchase (of course they did!)
However I loved his quote – “People who buy, buy, people who rent, rent”
Or as we sometimes say “people who buy buy, people who steal steal”
Great day – see you next year!