Redstone: Ads Will Pay The Way
November 08, 2007
- Digital and Mobile
By Susan Butler, N.Y.
Viacom executive chairman and founder Sumner Redstone kicked off day two of the Media and Money conference in New York City today by providing three "insights" into the digital future for media companies.
First, media companies must keep moving the content mountain to Mohammed, i.e., the consumer, Sumner said. Currently, there is a fragmented search economy. To be able to provide content to consumers and to keep pace with their demand, media companies must expand beyond their own sites. Viacom and CBS are doing this by focusing on a "distributed content model," he noted, so that consumers can take content with them - from the TV to online to mobile handsets.
Second, ads will pay the way into the digital future, Sumner predicted. Today, advertisers are not necessarily shifting their dollars, but they are taking advantage of integrated ad opportunities over multi-platform placements.
Media companies like Viacom are also eyeing ad opportunities globally, he explained. More than 50% of the online audience as well as gamers are outside the United States, he pointed out. To help companies like Viacom to expand globally, the $70 billion international market in TV ad sales will help pay the way.
Third, "copyright is even more right in the digital age," he said. Copyrights must be protected to encourage innovation. "If content is king, then copyright is the castle."
The event is presented by Dowjones and Nielsen.
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