Monaco Media Forum: The New Media World According to Murdoch, Everson, Hecht, Milner, Barra, Brell, Hippeau, Dinsdale, Kunster, Burns, Vestberg and More. By Jack Myers

quotFacebook is a wave The wave will die down and then I have to paddle out again and find a new wavequot So said Werner Brell Chief Digital Officer of Red Bull Mediahouse GmbH at last week39s Monaco Media Forum While Facebook is more tsunami than wave speakers and attendees at MMF hosted by His Royal Highness Prince Albert agreed that at the intersection of consumers media and marketing social media marketing is sweeping through the industry with a force that promises the radical change pundits have been forecasting for decades and traditional television media leaders have been confident is still far in the future Unfortunately only a small handful of traditional media company executives attended MMF even though digital media and media agencies were well represented The event typically offers a coherent window into the global industry39s future which Russian media magnate and second largest Facebook shareholder Yuri Milner of DST succinctly summed up quoting Mark Zuckerberg quotEvery single business model will be disrupted by social mediaquot he said in an interview with Adweek Publications39 Michael WolffquotIt39s a confusing landscape todayquot acknowledged Carolyn Everson Microsoft39s new corporate vice president for global ad sales She challenged the industry to develop a quotweb 30focus on what brand marketing will look like in the future We need to create a new canvass that excites marketers and engages all the stakeholders in the marketing processquot quotChief marketing officers are thinking about the media canvass in new waysquot agreed Curt Hecht the CEO of VivaKi Nerve Center who recently relocated to Publicis39 corporate headquarters in ParisOn a panel moderated by Activate founder Michael Wolf Sony39s EVP Global Digital Operations ampamp New Technology Scott Dinsdale explained quotit is no longer about distribution and pushing content to the marketplace The key is experimentation and creating content that people want to come toquot Premium media content he suggested will be successfully monetized by following the fanbased model being learned by the music industry quotFanbased experiences require intimate and engaging contentquot he pointed out Other speakers pointed to the convergence of paid earned and owned media and to content extensions into gaming and commerce as best practices for replacing traditional revenuesUnlike past MMF events that focused heavily on the future promise of media technology this year39s conference emphasized the realities being experienced by both new and traditional media and offered specific examples of new monetization models quotDigital is the only area of sustained growthquot commented Thomas Kunster VP of Booz ampamp Company quotInnovation in user experiences and business models is required along with new alliances and new partner strategiesquotquotWe need to understand the consumer experience across platforms make sure all the platforms work together and develop a currency and measurement system that works across all the platformsquot suggested Everson and Kate Burns SVP Sales and Operations for AOL EuropeEric Hippeau CEO of The Huffington Post pointed out quotEveryone in the news category who has tried to charge for news content has failed except possibly The Wall Street Journalquot James Murdoch News Corp CEO for Europe and Asia disagreed quotIf you are going to monetize something you probably should not give it away for freequot Hippeau countered that advertisers are developing pioneering social marketing campaigns that engage users who not only read the news but who share post comments and discuss what they read These are better educated and more affluent consumers Hippeau pointed out and marketers can engage with them in real time quotSocial commerce is contentquotamp160On the mobile front Hans Vestberg CEO of Ericsson pointed out quot85 percent of the earth has mobile coverage today and it will be 90 percent in five years 750 million people have broadband access growing to four billion people in 2015quot These new mobile users he observed use their mobile devices for Internet search first and as a phone second Globally we are shifting to an ondemand world with multiple devices and a different user interface for each platformTo comment visit wwwjackmyersthinktankcom JackMyersThinkTank and MediaBizBloggers are free and underwritten as an industry service by corporate subscribers to Jack Myers Media Business Report For subscription information visit wwwmyersreportcom Visit the archives of JackMyersThinkTank and MediaBizBloggers Jack Myers can be contacted directly at jmjackmyerscom Mobile and online video were central topics throughout the three day event with a focus on the implications of an open video ecosystem that will evolve to a web and applike experience quotWe need to combine TV and online video into one marketplacequot Everson argued but there is quotstill not enough quality online video inventory where brands feel comfortablequot Tablets such as the iPad and the new Samsung tablet are more immersive experiences with longer session times for video viewing Hugo Barra director of Mobile Product Management for Google explained that the new television sets now being manufactured integrate full and open web browser access and that Google TV will be launching TV app stores quotConsumers will find alternatives and the revenues might not come to the traditional networksquot Barra saidamp160

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Monaco Media Forum: The New Media World According to Murdoch, Everson, Hecht, Milner, Barra, Brell, Hippeau, Dinsdale, Kunster, Burns, Vestberg and More. By Jack Myers

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