TV Industry Must Focus on Monetizing, Enhancing Content: Panel
Lombardo, Madden, Sures Weigh In At 2011 TV Summit
Andrea Domanick (Broadcasting & Cable) -- Multichannel News, 2/15/2011 4:23:00 PM
In a multiplatform world, where the consumer is king, keeping viewers satisfied while finding a way to monetize content is the biggest challenge facing programmers today.
That was the takeaway from the "State of the TV Industry" panel at the 2011 TV Summit hosted by the Academy of Television Arts and Sciences Foundation and Variety Feb. 15 in Los Angeles.
"How do we embrace the digital world, where people want to watch content sitting in front of a scheduled night on TV, while at the same time getting value for it? Networks value programming on ratings and ad dollars. The fact that they don't have a way to do that online is problematic," said Michael Lombardo, president of programming at HBO.
Lombardo was joined by Jay Sures, managing partner at UTA, and David Madden, president of Fox TV Studios, on the panel moderated by Stuart Levine, assistant managing editor at Variety.
Sures emphasized that ad-supported online platforms like Hulu continued to be obstacles to finding a successful model for monetizing programming.
But with the demand from consumers, the need for strong content across the board has become as crucial as the need to monetize it.
The panelists also agreed that the proliferation of content from basic-cable networks like AMC and TNT has also raised the bar for content. Madden says that the key to strong content is avoiding trying to find the next big hit and focusing instead on developing shows that viewers can emotionally invest in.
Read more at B&C here.
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