News and Updates on Quantum Partners and Projects

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• Debra Lee, CEO of BET Networks, Speaks of Optimism at Media Guru Breakfast

October 29, 2010: 

Debra Lee, the Chairman and CEO of BET Networks, which is a division of Black Entertainment Television LLC., was the speaker for the September Media Guru breakfast, hosted by the Harvard Business School club and organized by Quantum Media. Lee spoke about how she has changed the type of programming BET had previously operated, by introducing more new shows and content, and by stressing the right kind of content. To this end, Lee plans to launch two new sit-coms in January, and hopes to branch out into drama soon. Lee said two vital questions are considered regarding any new programming: Is it entertaining? Does it fit with our positive message? We want to “respect, reflect and elevate our audience,” Lee said.

One of BET’s emphasis programming goals is on providing positive role models for young women. Lee maintained that this focus is so vital because BET’s female audience is “starved to see positive role models.” She said that one of BET’s goals is to show not just the rock stars, but the brain surgeons as well. The message she wants to stress to BET’s young audience is that “it’s cool to be smart and graduate and go on to college.”

Lee hypothesized that the young are “great adapters of new technology,” and said that this is one of the reasons why BET’s digital strategy is so vitally important. She said staying on top of new developments is vital, since “it’s important to be where our audience is.” Lee doesn’t think that traditional publications will go away, but that the two will have to find a way to co-exist.

“The death of the TV industry is not going to happen,” but we will have to change to keep up with it, said Lee. She thinks that social media will provide “a big benefit” to programmers - if done right. She emphasized that the content still needs to be meaningful, it can’t just be leftovers and afterthoughts.

Lee said that, despite the recession, BET experienced its strongest year yet in 2009 - and she expects 2010 to be even better. According to Lee, BET’s double revenue stream, of advertising and cable affiliate fees, made a substantial impact in helping the company to come through the recession where so many others haven’t. She said it also helped that people tend to stay in more during times of economic stress, and therefore tend to watch a bit more television.

• Quantum Principal Stefanie Lemcke to Speak at International Media Summit

September 20, 2010: Quantum Principal Stefanie Lemcke will give a keynote presentation at the Hamburg Media Summit, an international media conference, on September 30. She will focus on trends and strategies in the converging media market that is paid entertainment in the United States.

This will mark the Summit’s third year. This year, it will investigate the potential of digital media, and look at the newest trends and studies, in an effort to help media professionals understand the changing market. More information about the summit can be found here, though it is only available in German.

• AOL CEO Says Give the People What They Want

July 26, 2010:  Tim Armstrong, CEO of AOL, has a shockingly simple philosophy regarding content distribution. “Get people the content as quickly as you can, and don’t force people to do things they don’t want to do,” he said at a recent event at the Harvard Business Club. He maintains that instead, a website should be adding value every second.

The June 15 event, organized by Quantum principals, boasted a packed room, all in attendance to hear Armstrong speak about AOL, Patch.com, and what he thinks will be important to the Internet of the future.

Armstrong started Patch.com to fill the gap in local news coverage. Armstrong said he told newspapers, “I think there’s a better way to cover hyperlocal,” and when they didn’t respond he created Patch to fill that gap. Armstrong said that Patch “allows you to cover much more information than a newspaper can do, for a fraction of the cost.” The way Patch does this is by having a small group of reporters and editors writing local news, but also having community members contribute information about local events, issues, even classifieds and the like.

Armstrong acknowledged that Patch will further dent already struggling newspapers, but said that several papers and blogs are choosing to work with Patch, rather than fighting it. Armstrong hopes to keep getting towns up on Patch, with the goal of having more than 500 local Patches by the end of this year.

While understanding that media companies need revenue, Armstrong also realizes that companies “can’t just stand up and say ‘I want to be paid for my content’” - they need to have content that people value enough to pay for. In other words, if you want to be paid for your content, you “have to have really good content.” It seems simple, but sometime the common sense answer is the right one.

Armstrong thinks that virtual commerce could be a big help in providing media companies with revenue streams other than advertising alone. He said he thinks a paid services system “could be applied to virtual commerce.” He added that virtual commerce models have worked very well culturally, and that he hopes this sort of currencies take off in the United States.

One thing Armstrong has done to increase content value at AOL is to change the way they think about development. He’s adopted a mobile first approach, in which new products are created first for mobile devices, and then adopted for other platforms. He believes this is vital because it focuses on where the customers want to be, rather than trying to change their behavior. Armstrong said he thinks a company’s first duty is “to help other people” - and that means giving them what they want, not what you want them to want.

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