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Jonathan Miller Documented@Davos Transcript

Jonathan Miller Documented@Davos Transcript

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Published by DocumentedatDavos
Randi Zuckerberg interviews Jonathan Miller, Chief Digital Officer, and Chairman and CEO, Digital Media Group, NewsCorp at the World Economic Forum in Davos, Switzerland 2012.
Randi Zuckerberg interviews Jonathan Miller, Chief Digital Officer, and Chairman and CEO, Digital Media Group, NewsCorp at the World Economic Forum in Davos, Switzerland 2012.

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Published by: DocumentedatDavos on Feb 03, 2012
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10/15/2012

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JonathanMillerofNewsCorpisDocumented@DavosTranscriptDocumented@Davos2012
RANDIZUCKERBERG:ThanksfortuningintoourDocumented@DavoscoveragefromtheWorldEconomicForum.MynameisRandiZuckerbergandI'mexcitedtobesittingherewithJonathanMillerofNewsCorp.Jonathan,thanksforbeinghere.JONATHANMILLER:Mypleasure.Hi,Randi.RANDIZUCKERBERG:WeareWestchester,NewYork,buddies,buthadtocomeallthewaytoSwitzerlandtohangout.Now,isthisyourfirstWorldEconomicForum?JONATHANMILLER:No,it'smythird.Thisisthethirdtimehere.Threeinarow.RANDIZUCKERBERG:DoyouhaveafunDavosmomentorfunnystory?JONATHANMILLER:No.No,allI'mthinkingaboutisslippinginthesnowonceagain.RANDIZUCKERBERG:Someoneyesterdayshowedusanicepickonthebottomoftheirshoe.Ithoughtthatwasprettyclutch.JONATHANMILLER:Yeah,theywerehandingthoseout.Andyoucanliterallystrapthemonyourshoes,andIguessyoudon'tslip.RANDIZUCKERBERG:Butnobigwipesouts?JONATHANMILLER:No,notthisyear.Notyet.LastyearIwipedout.RANDIZUCKERBERG:Stillthreedaysleftthisweek.JONATHANMILLER:Exactly.It'searly.RANDIZUCKERBERG:Sowhatdoessuccesslooklikeforyouthisweek?Whatareyouhopingtoaccomplish?JONATHANMILLER:Ithinkoneofthebiggestthingsis,asIthinkeverybodyknows,liketheworldcomestoDavosforafewdayseachyear.Andyoucankindofgaugethingsatagloballevel.SooneofthethingsItrytodointalkingtoanumberofthemarketingservicescompanieshereatthehighestlevels,isthekindsofprojectionstheyhavefortheiradvertisingbudgetsandwherethey'regoingtospendmoneybysector,by
 
geography.We'reanimportantcompanyintheadvertisingworld.Atleastwethinkweare.Asellerofadvertising.Andsowewanttoreallymakesurewe'reabreastofthosekindsoftrends.It'sveryimportant.Also,someofthegeneraleconomicconditionsthatmatterpertainto,willpeoplebeabletobuyourproducts?RANDIZUCKERBERG:Andyoumentionedthatyouwenttoasortofdepressingsessionyesterday.JONATHANMILLER:IdidgotoadepressingsessionyesterdaywhereaHarvardeconomistspokeaboutthecomingsecondrecession.AndIfoundthatdepressing.RANDIZUCKERBERG:Doyouthinkthere'skindofadoomandgloomfeelhere?JONATHANMILLER:Ididn'tthinksountilIwentthere.BecauseIthoughtactually,itwasmoreupbeatthanthelastcoupleofyears,whichwerereallydiggingoutofthegreatrecession,so-called.Butthatsortofputapallonitalittlebit.Though,ifyouknowLarrySummers,hecameupattheendandhetookacontrary,moreoptimisticview.Sohopefully--RANDIZUCKERBERG:We'llkeepourfingerscrossedforthat.ButIthinkonethingthatisahugetrendontherisethatyoumentionedistheageofvideo.That'ssomethingthatisreallyinyourwheelhouseandsomethingthatwe'reexcitedabout,beingthatwe'redoingavideoserieshere.Reallycurioustohearyourthoughts.JONATHANMILLER:Well,Ithinkthisactuallyisverymuchanexample.Ithinkthattheabilitynowtocreatehigh-qualityvideoisnowwidespread.Theequipmentischeaper.Theinfrastructureexists.Andtogetthattopeople,thebandwidthexists.Thedevicesnowtocarryaroundwithyouandconsumevideoportablyarethere.Andit'sagreatexperience.SoIthinkit'severythingfromtheuser-generatedendtohigh-qualitypremiumvideoisexploding.Manypeoplethinklikevideoalreadyhappened.Ithinkwe'reactuallyjustseeingtheexplosionnow.Andit'simportantbecause,inourbusiness,themediabusinessgenerally,it'sthemost--I'llusedollarsinsteadofeuros.It'swheremostofthedollarsare.Andit'salsoanareawherewithsomuchhappening,youhavetore-figureyourplaceinit.Andforthebigmediacompanies,it'saverycentralissue.RANDIZUCKERBERG:AndHuluis,obviously,averysuccessfulcompanyinyourportfolio.Whatdoyouthinkaboutoriginalcontentandkindofwhatthenetworkofthefuturelookslike?JONATHANMILLER:Twobigandverygoodquestions.Soletmetrytodoboth.Sofirst,Ithinkthatforthelargemediacompanies,boththeopportunityandwhatyouhavetodoisnotjustsitonyourassetbaseandsay,OK,Ihavetheseassets.Ihave

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