Mike Shields (Business Insider)

Mike Shields (Business Insider) by The Financial Exchange

00:08:04

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ESPN has a great brand as a sports. Broadcaster. I'm not sure anybody's fortune and more. Yeah other start to run in some problems in here to talk about them is Mike Shields from business insider and Mike thank you become an all of us. Mike let's talk a little bit about ESPN and in particular. They're struggles on social media can you set the landscape as far as who the major players are today in the world of sports. I guess journalism and broadcasting in general. Yeah I mean I'm broadcasting. From there from from afar you can look like they're in incredible shape Connecticut they've got rights to all the big sport ever bury it turn out years where all the money is for the rest of the decade. But buried and getting hit on people kept cutting cable or or young people not player for cable that and that that's great about on the disk. This social media thing its orbit what do but the blind spot and you got outs he got richer or are about ten years but it really admitted made. A lot of a lot of leeway otter from. Levers there it is like you do immediate paean numbers overall they're doing fine or they're at where followers on. Our FaceBook. But plant like Brent like creature bar stool urges seemingly better getting people like to regain share stuffed comment like things. Then. Gods aren't. What in particular just ESPN struggle with on social media or are they not approaching it the same way how did they differ. I think it depends who you ask bill. Some some also some it is a big media company that just doesn't get how people use social media. Or did care there strategies just different they want peep they want you social media sending people back to their sites computer games. To perhaps that would make a lot of money and that's not great if not illogical but. You know appear from the if you talk to the folks at bleacher bar stool they don't they don't know how to its peak like young people like need native diesel companies are hugely populated by. Heard it early steps are run by millennial younger folks and they speak a language ESPN com crosses. Corporate or cautious. If that's fair or I don't know but that's that's sort of what your for. So what are the questions that I have been so if they're not connecting with the younger audience on social media. How much money is there actually on social media to be made as it would seem to me that ESPN is still making an awful lot. Through its traditional platforms even though they are losing market share. Yes I mean you're right right now it's if he can infrastructure business decision to make sense that you get billion and eighty person you know seven figures and social. So yeah that's right that the immediate revenue opportunities not nearly as big television I think are sure time is due to start. Chipping away at that you're strengthened by it by letting others get does those smaller midsize deals for advertisers. And then. He sort of admit immeasurable things what does that do your bank connection. Your brand here and you're and and the different sports that you. You rely out when your friends are talking about sports. On other property not borrow. Is this another sign that ESPN may have gotten a little bit too fat and happy in terms of not adapting to some of the newer technologies out there we know they're a little bit behind the game as far as streaming goes I know they have a product they're working on. For next year and in between nineteen but it seems to me that. They they haven't really tried to adapt as much and haven't poured as much money as other companies into some of these new areas. I think I mean that it tastes way it. It's it is something you creep you could apply this same kind of criticism to almost everybody traditional media that they're gonna. They're less comfortable with usual overall if there is they've made their money for years in print or television. And then something like social becomes an after our side art projects. Rather than it according to focus on because the money is not fair middle initial shaking dude. And you know there's there's not for an initial site that needed to and us are comfortable but. Yeah I think. Overtime they I think they're still they're still betting on this idea what you care about or get washed or we get our organ double games several. Yes people might come out at different angle that we are. We're still fight it if you real real candidate to go to watch canady had to get. There are some question whether younger fans want a lot of different throughout our dog game and to watching him last night I'm management while watching it again but. Yeah I think Eddie that's that's on its early hard answer whether standard and went where that is duration fans eventually changes or media have a sword. Never never emulates that are there their dad's generation. Is ESPN doing anything in terms of new initiatives to try to get more involved in social media and one way or another. Yeah oh yeah I mean I mean they've they've got a big team nodded and her if there if you look at it did not read about how to use social reform there. There's your truck Catholic there's talk about which are not clearance wears a sport general time. I think that it started keep them. Tried to emulate the parcels of which of the world in terms of their own try to be more conversational own jeans and like. That's tricky that's very tough. It's a tough place for big media companies to go in because it's gonna come off it yet you you risk coming up in you know in authentic or not. Good you know I wonder if they're gonna go to war. An acquisition or that I could see that they are and I'm totally guessing but it might be might be the way for them to accelerate. The record. Very interesting Mike thank you for the time we'll catch up with the soon. Mike Shields from business insider is a lot of competition. In is there's so much competition there's only so many hours gonna watch TV. Right he had a job yet kids you got a life. You know and and everything's on demand and you've. Securing a watch TV watcher fold one of the things that I find interesting and there's number of books on ESP and they go into this topic but ESPN. Within about ten years after they had been found and if you look at kind of what they did from the late in the eighties look what they did in the late eighties through the ninety's and they made a bad. That people were more interested in watching sports than watching their talent and so ESPN continue to spend. On programming. But they continued to push away some of their their talents. That it come up through their ranks reach out about the likely got the sportscasters and talking relic. Rich Eisen okay Keith Olbermann a lot of these guys only came out of he has fear that they all came out of ESPN and ESPN refused to pay up for them when they could of and I think what's interesting. Is that I think it's penny wise and pound force is is paean right now is stuck with all of these contracts. For billions of dollars for sports books now. If you look at what's going on with all of in the interaction on social media. To about interacting with personalities. And it's about the individuals. And so my case should be instead of spending eight billion dollars on the NFL or six billion dollars on college football. Looking it's been ten million dollars and get yourself a couple of great anchors on the guys that are talking to guys that are talking and you think guys who engage on social media. It's a much cheaper investment and could pay huge dividends for I don't know if I'd wash it any better I I'd. You're not the target audience and I know I'm tools they'd they want the dead 25 they want a forty year viewers they're not looking for someone who is. On the back nine but you know you miss you like green bananas and her at the turn you know pick it's it's it's a little awkward there. They out when we come backwards we talking about a new helmet. For the NFL that could prevent concussions from the financial exchange with Gannett. You've got Barry Armstrong. Financial exchange shall look I mean she'll exchange radio network and.
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