To kick off Vidcon, USC NEXT: The Digital Advertising Alumni Association and Trojan Entertainment Network held a panel with industry executives discussing the future of digital media at Feldspar Ventures in Downtown Los Angeles. Here are a few of the key highlights from the panelists:
"In traditional media, decisions are made by a few and broadcast to many. Live streaming is an opportunity for the audience to participate and shape the story."
-- James Creech: Co-Founder & CEO, Paladin Software; Creator, All Things Video Podcast
"In the music industry right now, there is more fragmentation, but also more opportunity. Touring, merchandise, and other revenue streams are more important now because of music streaming. We didn't have data in the past, you didn't know who bought your album at Sam Goody. Now Linking Park is on 16 different platforms, so you know who your fans are, but we are figuring out how to track them across all the different areas they would touch like album purchases, tours, and social media."
-- Kiel Berry: Executive Vice President, Machine Shop Ventures
"History has shown us, that first comes technology then comes content. People with the networks were far more valuable than producers, but over time that switches and content producers make technology more valuable and tech becomes commoditized. The end is now for CBS, NBC, and Disney. Where there is chaos, there is an enormous amount of money to be made, and I would bet on Google all day long."
--Toper Taylor: President, Network of One; Co-Founder & former President / COO, Cookie Jar Group
"Big data will create challenges for next generation that we can't get our arms around. That's what technology does to society, and that is something we need to think about. For first time in history, stories will not be linear. It will take genius filmmakers to find a way to tell the story. We need twenty year old geniuses to try to unlock the creative potential of VR or whatever it may be."
-- Marc Gareton: Executive Vice President, Local Productions, Warner Bros. Entertainment
Vidcon 2016 in Anaheim, CA