Ex-Disney CEO, top media execs think the explosion of online video sites presents an opportunity, but also a threat, to big media firms.
YouTube and mainstream media companies will be able to peacefully co-exist, according to many top media executives.
Speaking at a panel discussion about entertainment in the digital age at the FORTUNE Brainstorm conference Thursday morning, high-profile media veterans expressed optimism that user-generated content will present more of an opportunity than a threat to large media firms.
Michael Eisner, the former CEO and chairman of Walt Disney (Charts), said that sites such as YouTube, which features thousands of videos created by consumers without media experience, are great, but that ultimately viewers still want to see content created by professionals.
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“YouTube which features thousands of videos created by consumers without media experience are great but that ultimately viewers still want to see content created by professionals.”
Definition of Professionals: Anyone hired by mass media industry owned government approved.
NBC recently made a deal with youtube after hounding them about users posting NBC content. Now NBC will post clips of their own shows themselves. What dinks! Now they are paying money to youtube to basically do what users were doing for free.
Bonus for youtube NBC will advertise their website by displaying links to content on certain shows.