The Abu Dhabi Media Summit was a three day event focused on bringing together top media players and their counterparts to discuss the future of the Media Industry. This session was focused on how bandwidth and mobile devices are rewriting the rules. In particular what are the next business models? The panel included:
- Tim Armstrong, Chairman & CEO, AOL
- Dr. Kai-Fu Lee, Chairman & CEO, Innovation Works
- Jon Miller, Chairman & CEO, Digital Media Group, News Corporation
Tim Armstrong: The question on the table is how do you take the quality of content, quality of media and mix it together with the speed and distribution? The content model is a huge opportunity. In AOL’s opinion $10 to $20 billion of brand spending (advertising / promotion) needs to shift in the direction of higher quality content vehicles.
Jon Miller: One is starting to see the rise of premium [high quality production] content on the web. The key to sustaining this trend is the economics… the ability of content producers to develop multi-stream revenue models.
Dr. Kai-Fu Lee: Content, not just media, business models must leverage the three core strengths of the Internet. targeting potential for advertising measuring consumer actions that are deemed valuable consolidating the marketing and sales channel
Watch the recorded session.