WarnerMedia CEO Jason Kilar on Moving the World Through Story | Summary and Q&A

TL;DR

Jason Kylar, CEO of Warner Media, discusses the current state of the media industry and the impact of new technologies and customer preferences.

Key Insights

• 🪡 Media companies must prioritize the customer and focus on their needs to stay competitive in a rapidly changing industry.
• 💁 User-generated content platforms like TikTok offer unique storytelling opportunities and have the potential to coexist with traditional media formats.
• ◾ A small number of scaled global players will emerge as leaders in the media industry, driving innovation and investment in ambitious storytelling.
• 😌 The future of media lies in creating a diversified business model that includes advertising and direct-to-consumer offerings.

Transcript

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Questions & Answers

Q: How did Jason Kylar navigate the challenges of working in a joint venture like Hulu?

Kylar explains that the key was focusing on what they could uniquely offer to suppliers, which led to the success of Hulu's marketplace for books and other products.

Q: How does Kylar balance the needs of different customer constituencies?

Kylar believes in putting the customer at the center of all decisions and starting and ending debates with their needs in mind. This ultimately leads to long-term success and innovation.

Q: How does Kylar view the rise of user-generated content platforms like TikTok?

Kylar sees user-generated content as a legitimate and valuable form of storytelling. He acknowledges the power of platforms like TikTok in engaging consumers and highlights the importance of innovation and creativity in the media industry.

Q: How does Kylar think the economics of media will play out in the future?

Kylar predicts that a small number of companies with global scale will dominate the industry and be worth significant value. He believes that the internet opens up new opportunities for revenue streams, including video games, NFTs, and interactive content.

Summary

In this video, Jason Kilar, the CEO of Warner Media, discusses his career in the media industry and the current state and future of the industry. He talks about his experiences at Disney, Amazon, Hulu, and other companies, and how they shaped his outlook and decision-making. He also shares insights on the importance of customer focus and innovation in the media industry.

Questions & Answers

Q: How would you assess the current state of the media industry?

The media industry is currently undergoing significant changes, especially due to the pandemic. The proliferation of screens and easy access to media content have created new opportunities for storytelling. Additionally, companies now have the ability to have a direct relationship with customers, which was not possible before. These factors have changed the landscape of exhibition, streaming, and production in the industry.

Q: How did your experience at Disney contribute to your career?

Working at Disney provided me with a strong foundation in storytelling and entrepreneurship. I was inspired by Walt Disney's entrepreneurial spirit and his ability to set the standard in the industry. Disney's focus on theme parks and storytelling shaped my passion for the industry and drove me to pursue a career in media.

Q: Why did you decide to join Amazon?

I was drawn to Amazon's entrepreneurial spirit and their focus on the customer. Jeff Bezos, the CEO of Amazon, was inspired by Walt Disney as well, which resonated with me. I wanted to be closer to a startup and immerse myself in the world of technology and media innovation. Amazon's focus on the customer, long-term thinking, and passion for inventing aligned with my values and aspirations.

Q: How did Amazon's culture and leadership style influence you?

Amazon's culture emphasized a clear focus on the customer, long-term thinking, and a passion for inventing. This customer-centric approach was instilled in every decision-making process. The culture also promoted rigorous thinking and discipline, as evident in the use of narratives instead of PowerPoint presentations. This approach forced individuals to think deeply and communicate their ideas effectively. These lessons have stayed with me throughout my career and influenced my leadership style.

Q: Why did you take on the challenge of launching Hulu?

Despite criticisms and doubts from others, I believed in the potential of aggregating premium television and movies and delivering them directly to consumers over the internet. This was a non-consensus view at the time but was driven by my own frustrations of not being able to watch my favorite shows when I wanted to. I saw an opportunity to solve this problem, and with a talented team, we built Hulu into a successful streaming service despite initial skepticism.

Q: How did you approach the challenge of creating Hulu amidst competition and skepticism?

The key to success with Hulu was not trying to be a copy of existing platforms like eBay. Instead, we focused on leveraging our unique strengths, such as our connection with book buyers. By welcoming individuals to sell used books on Amazon, we created a valuable marketplace that resonated with consumers. This approach allowed us to expand into other categories and build a thriving platform, contrary to initial doubts.

Q: After working on various boards, why did you decide to join Warner Media?

I was driven by the potential to make a positive impact on the world with the gifts and experiences I had. Warner Media's mission to move the world through storytelling deeply resonated with me. The rich history and beloved franchises of Warner Media, such as HBO, CNN, Warner Bros., and DC, presented a unique opportunity to bring positive change to the industry. The immense potential for growth and innovation in direct-to-consumer platforms, global expansion, and interactive experiences further motivated me to join the company.

Q: What challenges did you face when you joined Warner Media during the pandemic?

Warner Media faced the challenge of adapting to the rapidly changing media landscape due to the pandemic. My focus was on accelerating the shift to direct-to-consumer platforms like HBO Max and expanding globally. I also recognized the need to enhance engagement with consumers through interactive experiences and gaming. Additionally, I had to navigate the complexities of a large organization with a long history and ensure that our initiatives aligned with the customer's needs and expectations.

Q: How do you approach trade-offs between different customer constituencies?

I believe that the customer should be at the center of decision-making in the media industry. When there are conflicts or trade-offs between different customer constituencies, it's crucial to prioritize the customer's experience. By relentlessly focusing on ensuring a positive customer experience, companies can build long-term, viable businesses. It is essential to understand and solve the customer's needs, even if it means making difficult decisions or challenging the status quo.

Q: How do you navigate the complexities of the media industry with its various stakeholders?

Navigating the complexities of the media industry requires a deep understanding of the various stakeholders and their interests. However, the ultimate goal should be to serve the customer's needs and create value for all stakeholders. Open communication, collaboration, and constant innovation are key to addressing conflicts and finding solutions that benefit everyone in the ecosystem. It requires a balance between understanding the nuances of different stakeholders while maintaining a customer-centric approach.

Q: How do you manage change within a large organization like Warner Media?

Managing change in a large organization is like turning a big ocean liner. It requires thoughtfulness, self-awareness, and a clear focus on the long-term direction. At Warner Media, I strive to maintain the company's rich heritage while also introducing new initiatives that align with our mission and drive growth. Change and innovation must always start and end with the customer, ensuring that we are offering valuable experiences and staying ahead of the competition.

Summary & Key Takeaways

• Jason Kylar has had a successful career in media, working for major companies like Disney, Amazon, and Hulu.

• He believes that the industry is undergoing significant change, particularly due to the impact of the pandemic.

• Kylar emphasizes the importance of going direct-to-consumer and expanding globally to stay relevant in the evolving media landscape.