Last week’s PricewaterhouseCoopers Outlook 2012 event in New York had some heavy hitters discussing the implications of all this “social stuff“.
Media Metrics CEO and founder Laura Martin at a panel moderated by Jack Myers at last week’s media event. Sharing the stage with Martin were Nick Brien, Worldwide CEO of Universal McCann; John Eck, President of NBC TV Network and Media Works; Julie Richardson, Managing Director of Providence Equity Partners, and Robert S. Victor, SVP of Strategic and Financial Planning for Comcast Corporation.
Victor, who joined Comcast six months ago from Boston Consulting Group, acknowledged Comcast is not moving quickly enough to adopt new business models and address changing marketplace realities. “More people are going online for entertainment and watching more video online,” Victor said in a separate interview with JackMyers Media Business Report. “We need to make the online experience integral and additive to the experience on TV as opposed to a substitute. The multi-channel video industry needs to think through with programmers the best models for enhancing the consumer experience and sharing in the revenues.”
“One of the things the new landscape demands is you must have a customer relationship,” insists Martin. “It is no longer enough to have a passive relationship with audiences. Digital media know who their customers and audiences are. But,” she warned, “one of the most disruptive implications of the digital space is the pricing toward free model.” Using Craig’s List as an example, Martin explained “digital media are giving away for free services that used to generate billions. This is destroying economics in the old media world. It’s no longer enough to just offer audiences. You have to know who they are and have a relationship with them.”
Will The Actions Match the Words?
As mentioned in earlier post Comcast has a serious problem with relations throughout the social web and primarily with their customers. While they are active in Twitter this is the first time we’ve seen an executive acknowledge that Comcast isn’t moving fast enough. Mr. Victor hits the nail on the head with his comments. Notice his emphasis “It is no longer enough to have a passive relationship with audiences”
Time will tell whether Mr. Victor’s vision of needs for Comcast actually get implemented throughout Comcast. Mr. Victor just started with Comcast in January and previously he was a senior consultant at The Boston Consulting Group. Hopefully he brings a fresh perspective with deep knowledge of change management to Comcast. We checked his experience using the social web. He has roughly 100 contacts on Linkedin and the same on Facebook. Couldn’t find a blog authored by him but then again consultants primary value is looking from the outside in.
What say you?