Video: How Do You Translate the Lessons of Live TV to Smartphones and Connected Devices?
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Read the complete transcript of this clip:
John Petrocelli: There are a lot of challenges inherent to the online video business as we transition to live, and the world is really architected for on-demand VOD playback. If you want to go watch a music video today, you go to Vevo, a TV show on Hulu, a movie on Netflix, and anything and everything on YouTube and iTunes.
What the market didn't contemplate was this dual explosion of connected devices where we go from 10 billion in 2012 up to potentially 50 to 75 billion in 2020, combined with this propagation and explosion of social media tools, and the quality of video has gotten better on smartphones, so now there's this rabid demand to consume, especially in our minds, premium live video. Now we have to create and navigate through those challenges and those inherent problems.
What we found in terms of quality execution, identifying people that have an understanding of the challenges of live television and how that translates to a smartphone or a connected device, and today executing at Coachella, it's a very daunting task. You're producing content on up to seven stages simultaneously, delivering out to audiences in the millions and on a thousand-plus different device profiles. Now you have to accommodate people that want to post, comment, share, tweet, etc., so there's a lot to address and deal with going forward, but I think a lot of it stems back to how the business has kind of come to life.
It's also been, I think, very unexpected, and in the world I think we're going to go for another one billion people will get internet connectivity in the next three or four years and another 10 billion devices with internet connectivity are going to enter the market, so it's an opportunity that's also got some challenges to it as well.
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