Schiller's Showtime: A Media Maverick's Insights Unveiled Part
II
In the first part of our interview, we are introduced to Scott Schiller, a media maverick with a remarkable career spanning various influential roles in the industry. From his time at NBCUniversal and Glam Media to his current positions at NYU Stern School
of Business and Progress Partners, Schiller's expertise and insights have left an indelible mark on the media landscape. The article delves into his keen observations about the impact of technology on the entertainment and media business and how innovation is the catalyst for change in an industry that often struggles to keep up with the pace of technological advancements. Schiller's experience with business model innovation and the challenges it entails is highlighted, along with his pivotal role in co-founding the Interactive Advertising Bureau (IAB) and its impact on the digital ecosystem. Moreover, the article explores Schiller's enthusiasm for Connected TV (CTV) and the transformation of TV advertising through first-party data and identity. His excitement is palpable as he discusses the game-changing potential of Shoppable TV and
its seamless integration of e-commerce into digital video, offering new avenues for marketers to drive meaningful customer actions and create engaging, interactive experiences. Ultimately, Schiller's forward-thinking approach demonstrates how the convergence of technology, data, and media presents boundless possibilities for reaching and engaging audiences, leading to tangible business impact like never before. You can read Part I here
When it comes to the future of the media industry, Scott Schiller's insights are as sharp as ever. He warns against complacency and stresses the importance of reinvention,
stating, "The biggest mistake businesses can make is resting on their laurels or believing they do not have competition. Just look at Twitter, for instance. They have opened the door to companies like Instagram/Meta eating into their 'exclusive' place in the market. As we all move towards Web 3.0+, we see disruptors being disrupted. Reinvention is mandatory today." In a rapidly evolving
landscape, media companies must grapple with significant challenges to achieve profitable growth. Schiller emphasizes the need for adaptability and agility, noting that companies now operate differently, especially in the post-COVID era. He observes, "Taking risks and making mistakes was long the territory of start-ups, but now we see divisions shuttered quickly if they don't perform.
Companies of all sizes and scale are expected to show a path to EBITA from day one. Business models must be realistic and grounded and not whiteboard dreamscapes." To enable organizations to move faster and think holistically, Schiller recommends breaking down silos and fostering a culture of teamwork. He believes in compensation structures that align with shared KPIs to
encourage collaboration and emphasizes that every team member plays a crucial role in driving success. Schiller aptly summarizes this sentiment, stating, "Creating environments where trust and teamwork are evaluated alongside results from the ground up is critical to teams operating quickly and effectively." Schiller's contributions to the rise of media brands and industry leaders
are nothing short of remarkable. In his early days at MTV Networks, he passionately advocated for reaching overlooked youth audiences with premium content and engaging advertising. This visionary approach led to lasting success, attracting brands that followed the audiences. Schiller reflects on this pivotal time, sharing, "My early days at MTV Networks were all about evangelizing the power of (then) cable TV (a new technology for delivering television) to reach often overlooked
demographics, youth audiences. We told the story of the importance of reaching these spending consumers with the right premium content (programming) and advertising creative (from advertisers) to entertain and engage audiences." At Comcast, after acquiring NBCUniversal, Schiller played a pivotal role in establishing a thriving digital advertising business when digital was yet to be
considered mainstream. He united diverse teams and talent, molding them into a cohesive force driving innovation across the entire industry. Schiller reflects on this transformative period, stating, "Over many years, 16 separate digital sales and marketing teams across the corporation became united in talent, culture, mission, and performance. Today, that business is a leader in driving innovation across the entire industry." With an illustrious career spanning multiple senior roles, Schiller's most valuable lessons can serve as a guiding light for aspiring business leaders. He shared the importance of bringing a great attitude and work ethic, consistently seeking opportunities to learn and improve. Schiller reflects on his lifelong journey of learning, stating, "I am a lifelong learner, and every day is a lesson (some harder than others). Realizing
that one learns from all directions is essential and humbling, and why every day, I am thankful for being part of it and helping others where I can." Schiller's passion for mentoring and developing people shines through in every aspect of his life, extending far beyond his professional pursuits. As an Adjunct Professor at NYU Stern
School of Business, he believes in fostering an environment of equal learning, where students and professor alike contribute to the discussion. Schiller's approach to teaching is a testament to his belief in the power of mutual learning. He humorously remarks, "The dirty little secret of teaching is that I learn more than the students do! Each class is everyone's responsibility. We're equals." Scott Schiller's journey from industry maverick to mentor and visionary is a testament to his unyielding dedication to the media and technology world. He leaves no stone unturned, constantly adapting and embracing change as it unfolds. His passion, combined with his sharp wit and unrelenting pursuit of innovation, make him a legend in the online advertising and adtech industry. As we bid adieu to this digital savant, we are left inspired by his words and wisdom, knowing that the future of media rests in the hands of visionaries like Scott Schiller. Whether pioneering new business models, navigating the convergence of digital and linear TV, or mentoring the next generation of talent, Schiller's impact on the
industry is one for the ages. And so, as we look forward to the dawn of new media landscapes, we can't help but wonder what other awe-inspiring feats the maverick of media has in store for us. You can find Scott Schiller at https://scottyschiller.com
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All the news you need today, in a format that isn't TL:DR, summarized for the busy executive.
The FTC is giving OpenAI the stink eye, launching an investigation into the company's privacy and data security practices related to ChatGPT. It's a "he said, she said" situation, with OpenAI feeling betrayed by the leak and promising cooperation. Meanwhile, Laura Petrone from GlobalData thinks regulators
worldwide are going to give these AI behemoths a run for their money, as the risks of unreliable info and harmful content pile up. As the AI landscape heats up, the U.S. Senate is preparing to introduce new AI legislation, and it seems like OpenAI might need to play its cards right to come out of this unscathed. Oh, the drama! 🕵️♂️💼🕵️♀️
Ad organizations are pushing for new privacy rules concerning data brokers to be handled by federal lawmakers
instead of the Consumer Financial Protection Bureau (CFPB). They argue that Congress is the appropriate body to enact comprehensive federal privacy legislation, ensuring ethical data practices while protecting consumers from potential harm. The CFPB recently sought input on data brokers' activities under the Fair Credit Reporting Act, which governs consumer reporting agencies. While some groups argue that the CFPB lacks the authority to broadly regulate data brokers, others, like the
Electronic Privacy Information Center, support the regulation to protect consumers from potential harm caused by data brokers' practices, including targeted ads and discrimination based on demographic data. On the other hand, the Association of National Advertisers highlights the benefits data brokers provide in reaching interested consumers with personalized messaging and facilitating outreach to historically underserved communities. Ultimately, the debate revolves around finding the right
balance between privacy protection and responsible data usage for marketing purposes. 🛡️📈🤝
The Biden administration's request to lift an injunction preventing government officials from urging social media platforms to suppress misinformation has been temporarily granted by a three-judge appellate panel. The 5th Circuit Court of Appeals issued the "temporary administrative stay" on an emergency basis, pending a full hearing on the
injunction. The original injunction, issued by U.S. District court Judge Terry Doughty, banned federal agencies and personnel from pressuring social media companies to remove or suppress content protected by the First Amendment. The lawsuit brought by attorneys general in Louisiana and Missouri claimed that the government's actions violated free speech principles. While the Biden administration argues that it has the right to debunk false stories and provide information to the public,
the injunction raised concerns about the scope of government involvement in content moderation on social media platforms. The ongoing legal battle will likely shape the boundaries between government intervention and free speech rights in the digital age. 🗽📱💬
Twitter's advertising revenue took a major hit, losing about 50% since Elon Musk took the platform private late last year. Musk revealed the significant drop in ad revenue, coupled with a heavy debt load,
has resulted in negative cash flow for Twitter. Before going private, Twitter derived around 90% of its revenue from advertising, making the decline a significant blow to its financials. Since acquiring the platform, Musk has explored new revenue models, including charging monthly subscriptions for verified accounts and diversifying revenue streams. Despite bringing in experienced media executive Linda Yaccarino as CEO to attract advertisers, the expected increase in advertising revenue has not
materialized yet. The future of Twitter's revenue remains uncertain, as Musk works towards transforming the platform into a more diversified "Everything App." 💸🕊️🚀
Semrush analyzed over 5,000 ChatGPT conversations, revealing users' craftiness in extracting info, from short and sassy to long and elaborate prompts. While the average convo keeps it snappy with eight messages, some opt for
essay-length discussions—talk about commitment! Requests span coding to social media, proving ChatGPT's a Jack-of-all-trades. When users get fancy, assigning roles like "lead" or "expert," they unlock AI magic, making interactions smoother than silk. Oh, and word on the street is, ChatGPT Plus gets you top-notch plugins—gotta love those perks! So, from data junkies to code wizards, ChatGPT's the chatbot of choice—writing, creating, and dazzling the crowd, one prompt at a time! 🎩✨
New research from Ampere Analysis indicates that nearly half of internet users worldwide have abandoned linear TV altogether, a figure that has more than doubled in the past two years. As streaming, OTT, CTV, and VOD services continue to gain popularity, the shift from traditional linear TV to digital platforms is becoming more pronounced. While this shift presents new opportunities and convenience for consumers,
it also raises concerns about national security and emergency communication. With many relying solely on internet-based services, concerns arise regarding the reliability of mobile and internet servers during critical situations, such as natural disasters. As more consumers embrace digital media, it is essential for policymakers and emergency services to ensure that alternative communication channels remain reliable and accessible for everyone, regardless of their media preferences. 📺🌐📡
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THE RIGHT WAY TO MEASURE MEDIA “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
The quote, from retail magnate and marketing pioneer John Wanamaker, is over 100 years old. Despite digital media’s promise of accountability, many retailers still struggle with this attribution conundrum. We’ve written this paper because we’ve witnessed first-hand the misleading results of ham-fisted and sometimes lazy models. At Undertone, we offer unique High Impact digital circulars,
recipe ads, and more, all personalized through a slew of AI- driven selected variables that drive sales lifts leading to 15x to 19x ROAS. These state-of-the-art products can stymie old and tired media models. This is because, in some retailer attribution models, high-impact display is treated with the same modeling considerations as boring, small, and entirely missable standard display ads. READ MORE OF THIS WONDERFUL ARTICLE
UNRAVELING THE EFFECTS OF MEDIAMATH’S BANKRUPTCY ON THE ADVERTISING ECOSYSTEM The recent Chapter 11 bankruptcy filing of MediaMath, once celebrated as a leading player in programmatic advertising, has sent shockwaves throughout the advertising ecosystem. With substantial debts owed to a vast array of ad tech businesses and creditors, the collapse of MediaMath is expected to have profound implications for various stakeholders within the industry. This comprehensive article delves into the financial
turmoil faced by MediaMath, the extent of its creditor obligations, and the far-reaching effects of its bankruptcy on the advertising ecosystem. READ THIS IN-DEPTH STORY
INSIDE THE GOOGLE VIDEO AD SCAM It’s bad. It’s actually worse than everyone was saying. Google may owe advertisers
billions of dollars and face huge lawsuits after scamming advertisers. For years, many people, including myself, have questioned the ecosystem of online advertising, particularly Google’s enormous advertising growth that seems to be backed by junk and scam sites. Now, new research reveals that Google has violated its promised standards when placing video ads on other websites, raising serious concerns about the transparency and integrity of the tech giant’s online ad business. READ THE FULL EXCITING STORY
THE FUTURE OF PROGRAMMATIC: MATT BARASH DEFENDS THE SSP. In an exclusive interview with VideoWeek, Matt Barash, Vice President at IndexExchange, provides valuable insights into the ever-evolving programmatic advertising landscape. With over 20 years of experience, IndexExchange has transformed from an ad network into a formidable exchange model, helping publishers monetize their assets. Barash highlights the seismic shifts witnessed in the industry, emphasizing the rise
of quality and video as paramount factors driving change. READ THE INTERVIEW
CRITEO’S COMPLIANCE WOES: REGULATORS SHOW THEY MEAN BUSINESS In a stunning turn of events, adtech firm Criteo has found itself in hot water with regulators, facing a hefty penalty of 40 million euros (U.S. $44 million) for multiple alleged violations of the General Data Protection Regulation (GDPR). The French data protection authority, CNIL, recently announced the fine, which sent shockwaves through the industry and left Criteo employees feeling like their yacht had suddenly transformed into a funeral barge, with no
explanation for this colossal punishment. READ MORE NOW
UNMASKING THE SCAM: MADE-FOR-ADVERTISING SITES EXPOSEDIn a world dominated by programmatic
advertising, the allure of maximizing ad impressions and clicks can lead advertisers down a treacherous path. Enter the realm of Made-for-Advertising (MFA) websites – a breeding ground for spam, click-bait, and low-quality content. These sites have been quietly siphoning billions of dollars from unsuspecting advertisers, while tarnishing their brands in the process. A recent study by the Association of National Advertisers (ANA) reveals the alarming extent of the MFA problem, urging advertisers
to take immediate action. READ MORE NOW
SUPPLY-PATH OPTIMIZATION: UNRAVELING THE COMPLEXITY OF PROGRAMMATIC AD BUYING At its core, SPO is about buyers making deliberate choices to identify the most efficient connections and transact with sellers. The goal is to eliminate inefficient and expensive paths to supply, ensuring that advertisers get the most value for their investment. However, the term “SPO” has been thrown around by nearly every constituent in the supply chain, creating unnecessary complexity and confusion. It’s time to cut through the noise and focus on the core opportunity
at hand. READ MORE NOW! |
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