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News Corp. Digital Media Group Chairman Jon Miller weighs in on the future of digital media such as MySpace and Hulu.
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After -- by our top names in tech.
-- this -- to be all things digital conference which kicked up last night rented house thirties California.
Hi Karen Lahr yes they used to the technology industry is here are wearing -- -- Talking about star -- -- -- hottest names in the social media space names like Twitter FaceBook groupon.
And of course -- technology heavyweights the -- the big entertainment companies Disney.
And of course and News Corp.
the parent company in a Fox Business Network you can see behind me the crichton's crowds coming out of the latest general session that just came out.
We've got one of the speakers who is just on stage talking Jonathan Miller -- chief digital officer of News Corp.
need just got off the stage addressing the crowd talking about a lot of different topics let's bring your perspective.
To our audience last time we met woods and the launch big daily.
It was certainly a big splashy affair I -- changer as far as content goes on the -- pat how is that doing and what's the game plan for that well.
I think that the daily is a game changer because it really showed how rich environment you can create for news product and in -- in a new tablet form and it's been very exciting.
I mention this on stage the thing that has surprised me the most.
Is that over becoming over half the subscribers are actually yearly subscribers -- choice you can strive for a week or for a year.
And over half the people are self selecting their choice to subscribe for a year.
And -- -- shows like the product but but being with there's been -- discussion about paid content models.
And it shows I think that when you make a great product that -- that has value people actually.
And only pay for but but will subscribe bid for gears what do that the subscriber base and what is your metric for success in in year one.
We do have numbers we haven't released it in fact there -- there's -- discussion about when we will do that so the answer is -- shortly but -- we -- -- numbers yet.
-- let's talk about another big have property that News Corp.
has and that's MySpace that it continues to evolve -- year we're doing a lot.
To change its Tyrone and its audience said it's trying to reach what sort of next on the horizon for my -- we have.
We have said that we're involved in -- and what they call strategic process for MySpace where we're looking for investors or possibly transaction.
And I think we are getting far down that path and I would expect something to happen during the month of June so truthfully we'll have a resolution.
On the directional MySpace is taking within -- I please come back on fox business and give us an update on that -- -- big initiative for the company is cool though the I had seen Reed Hastings who runs Netflix on stage not too long ago saying that he believes that he doesn't compete against Hulu.
And you -- he's trying to compete against a cable company.
What do you make of that who's the -- competition and what's this.
Face evolving and slippers look great question because that that has a lot to do what -- Everything that every media companies trying to figure right now is in your question yes and in some form and so we try to break it down a little bit well I'll start with Netflix -- and and Reed Hastings.
I think he probably he probably thinks he's complementary.
To the big offering some cable satellite providers.
Many people would question that as to whether it's compliment your competitive and I did -- he thinks -- more complementary.
He said he thinks he's competing with the Amazon.
And Swiss -- I was trying to -- it in practice.
Okay it's another Wall Street Journal reported this is thought this left since the -- pretty easy air -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So actually I think he is competitive with -- who has both a free model where you can you can watch advertising supported television and also paid model.
And certainly in the paid model it is it is competition -- Has been made of Internet so bad that the dip popularity Internet contents eating away at the cable business and we will all work for -- cable company and certainly.
A cable company battles as a big digital presence and how does this all sort of lay out.
That's -- again one of the big but that's one of the big questions and the question is are people going to continue to pay for the big cable and satellite bundles.
Which includes things like Fox Business -- -- Or are they going to do what they call court cut -- and get their video some other way.
The right now there's no good alternatives he would even if you wanted to you'd have to patch together a bunch of stuff.
And put them answer the question is will people do that -- -- nobody knows this that's would tell you right now.
Probably it's not happening.
But there's other things you -- look and say could be starting -- particularly young people coming out of college for example who may not buy into these the more expensive packages write -- of that.
But this is the big question as to what programs go where what movies go where yes there -- trying to both have a -- the good existing business today and plan for the future.
All right well certainly think there's still evolving and even the smartest guys in the -- are strong was still trying to figure things out and that's some of the stuff that we're talking about this year lowering Chris at all things digital.
Stay tuned we're gonna have the CEO Steve the CEO square in many many others joining us.
A little bit later on today.
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