Applying Traditional Business Practices to the New World Can Be a Mistake, Says Disney's Bob Iger - JackMyers Think Tank

quotThe ABCTV broadcast network is not a distribution platform anymore Today it39s more a program studioquot said Disney CEO Bob Iger last week at a Syracuse University Newhouse School breakfast event quotWe use the network to develop content and then distribute that content globallyquot Iger added Responding to questions from The New Yorker columnist Ken Auletta Iger acknowledged that quotyou can39t limit consumer access and can39t stand in the way of technologyquot agreeing this places challenges on normal ways of doing business He believes Disney and ABC are quotchallenging the present and past in obvious ways butquot he warned quottaking traditional media values and business practices and trying to apply them to the new world can be a mistakequotAccompanied by chief lieutenants Anne Sweeney George Bodenheimer and David Westin Iger said he expected ABCTV and DisneyABC Cable Networks would program a major hit on television and online simultaneously in the near future while pointing out the revenue models for such decisions are uncertain quotKeeping it simple for the consumer is unbelievably importantquot he commented quotWe need to take confusion out of the marketplacequot Camp Rock a 2008 Disney Channel movie featuring teen pop stars the Jonas Brothers will air Friday June 20 on the Disney Channel then on ABCTV Saturday on ABC Family Sunday and will become available on ABCcom on Monday Iger said the company will generate 2 billion in digital revenues half from online vacation packages and quothalf from everything elsequotCommenting on the growth of virtual worlds and Disney39s acquisition of the popular kids39 world Club Penguin Iger said the company will be developing additional virtual worlds that are inviting for kids and that offer significant social networking applications quotSocial networking online is a form of entertainment especially for young peopleamp8230 We want to embrace technology to tell better and more compelling stories and reach more people Tools available to artists to tell a story are far better todayquotCommenting on the impact of the economy on Disney Iger explained the value of the dollar positively impacts on the company39s travel and tourism business and that there has been no negative impact on the company39s advertising business Only 20 percent of Disney39s total revenues are generated by advertising he pointed out and quotin this environment we lag the economy not lead itquotAt the Traffic Audit Bureau quotEyes Onquot Conference in Boca Raton yesterday Wachovia Capital Markets VP Equity Research Marci Ryvicker commented that national economic conditions could negatively impact on media companies and confirmed six percent revenue growth estimates for national and local broadcast television in 2008 but suggested recessionary economics would result in a downturn in 2009

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Applying Traditional Business Practices to the New World Can Be a Mistake, Says Disney's Bob Iger - JackMyers Think Tank

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