Playmakers: Going Digital

" Visit our flight -- Zagreb where we'd be the biggest names in business entertainment sports politics we all mix it up a little bit my partner course woody Johnson the owner of the New York Jets businessman. And political consultants soon to be you maybe prison the United States -- and joining us today. Bob Pittman he is a businessman broadcasting executives named one of the fifty who made any real difference by broadcasting magazine ad. --"

" I'd look I think you you realize about the problems with the body TV's America's hobby. People spent four and half hours a day watching TV I don't care what hobby they say they have the hobbies TV and viewership goes up every year. So I think you know the Internet here to stay the internet's big Internet support -- time and TV. But the kids watch TV -- they watch -- on -- daily life on the screen they watched the TV news network TV anyway we've all watched -- you know what they watch TV more and more if we want a certain distance past our parents which is. Surfing and watching multiple health. There that times -- But they also pick up a little bit of -- known computer might I get two little kids and they'll watch everything on TV that there's no more of that. The go find on the computer and add to it if further TV set. They'll watch it anywhere they can get it and against their hobbies and and the viewership is up with and sometimes a computer becomes that the I mean I they're they're very often I -- I don't allow my daughter to watch TV while she's doing her homework that I realized women if you look at it as spray and it wasn't doing artwork beckoning beaches here if they can be carried out. What. You just -- daily candy. We did last time you've got a new tell us what daily candy what is daily candy and what he he got you've got a new thing on the horizon -- at that we'll -- daily candy was Danny -- brilliant idea right they've been filter for women. And she sent women a daily email just one thing. That they were interest it and sort of what's hot it's discovery for women. Went from a couple 100000 subscribers when we bought in 22 over two million votes on the sold Comcast and they're brilliant job made. Money almost from day one -- brought up by buying and selling well we're lucky so now what's what's happening with this -- was actually saw the success that we can't go wait a minute this is a fantastic model. Because you're getting direct marketing -- CPMs. A direct marketers pay 250 dollars against not. Five dollars -- And it works forum they come back again and again love the results and those who started one -- for -- to McCain goes with the idea. Been layer and Adam rich the -- list this. Growing I don't know mean another couple years -- to the -- reports daily candy will be even bigger. We've got a new and out called tasting table. Which is -- fastest growing ever so as what -- want to say whether whether she chases -- do they'll kill me for saying this but it's for foods they should never ever mentions for duties but -- for booties people who thought about it yeah and it's it's a great product and it's a lot of fun. Why would you sell it if it's money so fast because we're fund or private equity -- we have to sell I think I guess -- turned and I actually did one. -- managers have a piece of the company mother partners say you got to sell something sooner or later. So so we felt that was the day I mean that. And TV change the way everybody consumes entertainment really. And has become how big is that business now it's it's Titanic. It is that -- what are you and what's and then what what do you do after MTV is anything like batters in this country has come across like you know -- who have. All ideas I've -- a lot of things today in my life but mostly it's meteor city and had barrage yours for life that I got this idea of audio. -- it's also it's it's a matter of listening well and being open to anything I've never found anything out planned to happen. Happened. And I found all -- America Online we bought -- for 21 real estate with with Henry Silverman nature's best. And I went down to talk Steve case that we should -- line about his online yet agree with state. And I thought -- execution in my board. And a year later they think you should come down and then help me with with -- I wound up being the CO law intended to -- twelve months worked on the three days a week. And I stayed bought a house live there and state. Seven years so when do you know. When it's time to move on though because a lot of people do. They -- they love their job they love where they are but they get stuck there in the security of being there is kind of hard to resist when you know it's time to kick yourself in the -- move on you know I think events -- what you're doing what job you have I mean if you're sort of running the finance department are adding stuff wouldn't stay your whole life. If it's about fresh ideas you know. How long can he do without getting tired and I think most of us get tired after through four years -- more than three or four years places. But I think you do actually your freshest best work early on. If you're smart and you're gonna stay longer than that you better develop another group of fresh people and empower them because you do always need a fresh blood that was -- of fresh ideas and they want -- things you've talked about his advertising promotion is not part of the stimulus package. And the advertising and has been given a bad name we've talked about it before what's insane I'm not -- I sort of what we had a president I think 800 million. To stay 800 billion to stimulate the consumer right the only thing that's ever been proven to truly stimulate consumer demand this advertising. It works it would be this big of business it is also this is the biggest consuming economy in the world and the biggest advertising. Market in the world. And advertising down spending is down. Yes a bunch of people can't spend money. But there are some people who can't spend money we're sitting on the sidelines. And all they need to be is motivated and what motivates them. Advertising I'm not saying you spend that bailout money on bad are you coming any plan like that but there certainly some tax things they can do to if that's."

" And the problem is is that monies fungible and and what ever these companies you know companies that are that are somewhat on the government dole. You're going to have government regulation is an order you can't spend that money for advertising that's superficial -- we can't afford to spend money well by the way they want the business to -- that better -- money on advertising -- they better go back to business school and go through like marketing want to -- to they went to politics one on -- right I go to business want to -- that's part of the problem that politicians running if you want to -- you -- you -- hepatitis -- advertising is -- Advertising is investment. You get a return on investment I'll give you as much money you want an advertising. If you can give us -- return on price reflecting parts mattered the most and another million on advertising five. They give me another city IPO in in Mets stadium Citi field it's. If it works it works. I don't I don't look we'll all debate what's the most effective form of advertising certainly some of what you do. Turned up via bad investment. Something good but overall I think in a whole advertise on the way it is the Internet advertising is still still not everybody says has great potential Barry -- is always talking about potential. It's still what about 8% of total advertising and it -- everything is really small it is the fastest women how does it grow -- it's growing every year will catch up we of the good and bad news about advertising is when you have a."

" Hit product like in TV. It took five years before typical ball once spot on and he really -- seven hour before -- Blogspot. Everybody slow to come -- and he knew now the good news is if you're one of those places is buying. All our friends in the newspaper business than that are not so lucky. They're advertising's a lot higher than it should be for probably the usage they have. That's not to say they're going out of business but it is going to wind down some and fund probably Internet some of these other you new vehicles we'll speak speaking investments I hear that you're looking at tequila. Well let you know that -- not -- Saturday elections absolutely always have a I have -- you wear the hat and your ride the horse the lowdown on overnight we're we're doing they were doing a cost -- product for people like money preachers. Appreciate the fine line. Is a fine tequila. There is a town you've been there and and Mexico we go in their state what's the name of the San Miguel -- and they are beautiful -- gorgeous place in that town there is a local private -- law. That is shipping if you throughout the camp with a worm in the bottle it has no win you know every you have the -- went this has not have a so I need a lady -- sort of put it away as well that's a great business idea I mean this lady is that what you're doing she goes on where -- got a job for. And she's running this company were making a very. Limited production high and comments or. Tequila and if you like let's move tequila. Elect -- sounds good that's a good they have done. Very good -- their base continue what he's thank you my friend."