Media Summit gets bad news (for some)

  • by

While all media moguls big and small were thinking big in Sun Valley, Idaho this week, stock analysts are predicting a weak 2007 for big entertainment companies. Disney’s Stock took a sizable hit as did other media companies.

In Sun Valley, YouTube and its affect on Television viewing habits was a big topic of discussion, as was, I imagine similar companies and options (such as iTunes, the iPod, and ABC’s freeTV).

[YouTube Founder] Hurley proved he is quickly making powerful new friends Thursday
when he hooked up with CBS Corp. CEO Leslie Moonves for a 45-minute
sit-down held in a small room outside the closed-door meetings where
all the other conference participants had gathered.

During a
wide-ranging conversation that could be heard by several reporters
working in the room, Moonves seemed to become increasingly intrigued as
he learned more about YouTube’s rapid evolution.

Moonves marveled
when Hurley informed him that YouTube’s steadily expanding audience is
now watching about 100 million videos per day. He asked how YouTube
might be able to direct more traffic to Web sites owned by CBS. The
meeting ended with Moonves concluding that CBS should start posting
daily snippets of its programming on YouTube.

NBC already has an agreement like this and I"m sure ABC can’t be too far behind.