- Schmidt on Social Media, Ads and Hulu
- Sun Valley on Social Media
- Eric Schmidt + Larry Page on Revolutionizing Computing
- WPP's Sir Martin Sorrell on the Ad Recession
- Twitter in the Sun Valley Spotlight
- Sun Valley Dealmaking Confab Kicks Off
- Making Money on Michael Jackson's Memorial
- Court Ruling Could Mean Trouble for TiVo
- Another Music Lawsuit, but with an Unexpected Target
- Will Newspaper Readers Pay For Digital Content?
More Videos
- Schmidt on Social Media, Ads and Hulu
- Sun Valley on Social Media
- Eric Schmidt + Larry Page on Revolutionizing Computing
- WPP's Sir Martin Sorrell on the Ad Recession
- Twitter in the Sun Valley Spotlight
- Sun Valley Dealmaking Confab Kicks Off
- Making Money on Michael Jackson's Memorial
- Court Ruling Could Mean Trouble for TiVo
- Another Music Lawsuit, but with an Unexpected Target
- Will Newspaper Readers Pay For Digital Content?
|
CNBC'S MOST SHARED
- Investing in Tech Now
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- Software Giants Rush to Cash In on Carbon Counting
- Preparing for Retirement
- What You'll See On My NASCAR Documentary Tonight
- Warren Buffett's Complete Sun Valley CNBC Interview - Transcript and Video
- Microsoft Plays a Game of Bing Pong
- How exactly does Twitter plan on making money?
- Playing by Different Rules
- Nikkei on Track to Break 6-Day Losing Streak
- Schork Oil Outlook: It’s Now or Never for the Bulls
- Social Networking's 'Naked' Truth
- Farrell: Let's Enjoy the Numbers for a Moment
- Call Of Shame - Vote Now
- Schmidt on Social Media, Ads and Hulu
- 15 Stocks to Consider
- Maximum Bob Goes Full Throttle For GM
- Najarian: Options Get Bullish on Cisco
- Sun Valley on Social Media
- GM CEO Vows Leaner and Better Company To Emerge
- GM CFO Young: No Positive Cash Flow Until 2009
- Geithner Seeks Clampdown on Derivatives Dealers
- Consumers' Mood Sours in Early July
- Less Demand for Fed's Emergency Backstops
- Claims Total Over 15,400 in Fraud by Madoff
- JPMorgan Asks Treasury to Auction Warrants
- UBS Can't Comply with US Request: Internal Memo
- Cisco Cutting up to 2,000 Jobs, Analyst Says
RSS FEED
Text Size 
News Corp's [NWS
Loading...
()
]President and COO Peter Chernin took the hot seat, talking about competition and the 'MySpace effect." Fortune's media correspondent Richard Siklos interviewed Chernin in front of attendees of the Fortune Brainstorm:Tech Conference. In an event crammed with Chernin's competition-- other media and tech execs -- Chernin says the competitive set is "much less relevant." There's so much competition, infinite possibilities, Chernin says he thinks of News Corp's biggest competitor as itself and its own limitations.
There's been a ton of buzz about Facebook here at Brainstorm:Tech, so MySpace is a natural topic. News Corp bought MySpace for a steal, a mere $580 million, making News Corp seem quite forward thinking (Facbook's value is some $15 billion based on a Microsoft [MSFT
Loading...
()
]investment). So Siklos asked "Is there are MySpace effect" -- i.e. is the acquisition changing the way the rest of the company does different? Chernin says MySpace helps push the company to focus on the consumer experience even more directly. Say, with Hulu, which News Corp is co-owns with NBC Universal. But what about monetization? MySpace may have the number one marketshare in social networking and millions upon millions of page views and users but it's still ten percent short of billion dollar target.
It seems MySpace's challenge growing advertising is the same one other online sites face: there's infinite inventory, so it's tough to convince advertisers of a certain banner ad's value. Chernin's solution? Creating category scarcity, which is easiest to create with premium video, simply because there's less of it. He said the company's challenge is to convince advertisers that the eyeballs they should reach aren't on portals, but are on social networks, pointing out that the MySpace homepage gets more his than American Idol. It may be a while before advertisers look at a banner buy as a mass media opportunity like a Super Bowl ad but he has a point.
Chernin is also bullish on mobile-- News Corp co-owns mobile video startup Jamba. But it sounds like Chernin thinks the real mobile potential hasn't been tapped yet. Media companies have been talking about mobile for years. At every one o these conferences I go to plus all the CES and National Association of Broadcaster type events it's always a hot topic. Maybe the new iPhones so many of the folks here are toting will push mobile distribution along.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes