On April 5th over thirty media forum members came together in Calder Lounge, Uris Hall for the Annual Media Forum Meeting.
Columbia Business School Dean and former Chairman of the Council of Economic Advisors R. Glenn Hubbard kicked off the program with positive thoughts on the economic environment. “We are pleased to find ourselves back to a time where we have multiple [job] offerings for our MBA students across industries including media”, Hubbard said. “The economy and job market is growing and will continue to get stronger.”
Media Forum members were joined by Reed Hastings (via teleconference), founder and CEO of Netflix, the world's leading Internet video subscription service and Michael White, Chairman, President and CEO of DIRECTV, the world's leading provider of digital television entertainment services. Reed and Mike lead a roundtable discussion on Video 2020 to help the group explore the likely direction of the dramatic changes in the market for video entertainment which will involve the merging revolution of the TV-internet experience. Trends in this area will include having a 3-D experience without glasses, more standard configurations of DVR time shifted video, access to more varied and interesting content in high quality definition and working in wireless home networks.
With accessibility and content on the rise, Robert M. Bakish, the president and CEO of Viacom International Media Networks and Duco Sickinghe, the CEO and Managing Director of Telenet Group Holding NV offered their global perspective. “There is great opportunity in emerging countries like Mexico” said Sickinghe. “Considering advertising lower costs in consumer package deals is vital to keep the pricing fees affordable for international consumers. Passion is key to making the management work. If you see a danger in the industry and embrace it, then you are first to know how big the danger is.”
The discussion then addressed the question of how regulation is shaping the development of the market for video with a panel representing industry and academics from the law and business schools including News Corp. Senior Executive Vice President and General Counsel Lawrence A. Jacobs, expert on innovation and competition in media Law Professor C. Scott Hemphill and Director of the Columbia Institute for Tele-Information Professor of Finance and Economics Eli M. Noam.
The event wrapped up with a cocktail reception where officers of the Media Management Association (MMA) joined to mingle and network with the media forum members.