Wednesday, March 12, 2008

Social Media Not a Fad

That according to Disney President and CEO Bob Iger. Broadcasting & Cable Magazine has the story on-line today. Iger was addressing the attendees at the McGraw-Hill Summit in New York.

He criticized media executives for their skittish view of the multiple-platform approach to delivering content.
“Brand managers look at technology with a deep-rooted aversion,”

“People take a protectionist view of it, but we’re projecting the brand versus protecting the brand.”
And check this out:
Iger spoke of using technology to “completely change the perception” of the Disney brand when he took over in 2005. He forecasted $1 billion in digital revenue for Disney this year, up from $750 million in 2007.
Quite impressive for an old-line company to project 25% revenue growth in a very important sector of their business.

But here's where Iger shows his true understanding of where things stand in today's media world:
Iger stressed how social media was far from a Gen X or Gen Y fad, but in fact a part of everyday life for children. He said the computer will soon supplant the television as children’s screen of choice. “In the years ahead, broadband on the computer will be the primary source of entertainment for kids,” he said. “It’s just as important to them as the TV set now.”
And I would go so far to say that the word wireless should be included when talking broadband. One also could project that the traditional "computer" for today's kids will not be the typical box we use today and manifest itself in a much more portable form...maybe hand held and portable? Exactly.

As you read through this it's hard not to draw the many parallels between Iger's vision and plan for Disney and what the radio industry needs to accomplish.