The Right-Brain 'Art' of Sales vs. the Left-Brain 'Analytic' – Musings on Media from the 'Sell' Side, with Occasional Forays into Music…and Wine
The Nexus of Online Video: Hollywood, Silicon Valley & the ‘Death’ of MySpace…
Actually, while a mouthful of a title, it is one that might have been even longer, so to include both MySpace AND Yahoo! Why? Each had moments of prime opportunity where they could have “bridged the gap” between the content of Hollywood and the technology of Silicon Valley. And both failed to do so.
One of the key items that I discuss at length at WebTVWorkshop in Hollywood is why…and how…Hollywood does not have [and has not had] “control” of Digital/Online Video, as it now does essentially in the Cable, Broadcast, Film and Syndication worlds.
This is key, because if they don’t continue to get more involved and get some “control” in some sense, they will continue to then lose ground in several areas that are already affecting them.
They are starting to realize this, true. But as I see it, they are reacting to outside forces, not leading them…or controlling them. Yet. Will they get a handle? Most likely, but more pain is inevitable on that path. [Not everyone will see this as a bad thing, as Hollywood of course has many detractors. But we’ll leave for a separate discussion.]
We are already seeing both a fragmenting of audience, and of ‘distribution’: people “cutting the cord”, more time being spent watching video on-line than off, and movie revenues under pressure due to less DVD usage.
Yahoo! [as those of us over 30 may recall] held great promise as the first attemptor at this synergizing process in the late ’90s, with the making of Terry Semel as CEO. Former Chairman of Paramount, etc., Mr Semel was a Hollywood heavyweight, defined. Maybe it was too early, maybe it was a lot of things, but Mr Semel did not come close on this. As from my comments on SAI [image below], then comes MySpace.
An even greater “miss” on video, was MySpace. It IS a greater miss…because it is also a much greater irony.
MySpace became huge in the Music world, the place that bands HAD to be. But it was bought by NewsCorp, a property that owns not a single Music library. It does however, own TONS of video content.
In fact, as NewsCorp also owns Fox, it had a world of Movies, TV, Sports and Broadcast vehicles to choose from, essentially. And yet, they ceded more or less, to Youtube. Owned as it were, not out of Hollywood, but out of Silicon Valley.
The irony abounds, and the nexus is not [yet] in Hollywood for WebContent. This is one of those ‘Would Have Been/Could Have Been/Should Have Been’ scenarios that people like myself will watch & ponder on, for some time to come.