Content companies are about to see a rise in the value of content because Internet companies need what they sell, Terry Semel said at the opening of TheGrill conference on Monday.
Semel, the former chairman of Warner Brothers and CEO of Yahoo, said that companies like Google, Apple, Netflix and others are realizing that they need what Hollywood creates to drive advertising revenue.
“Silly little Internet things are cute for a minute, but it’s not what big advertisers were looking for,” Semel said, at the kick-off panel discussion, "Hollywood's Future: Between Wall Street and Silicon Valley."
“They’re looking for more stable content that could be on television, could be on cable.”
Watch Semel and film fund Global Eagle cofounder Harry Sloan's full session at TheGrill in the video.