TheGrill 2015: Finance Experts Tout PewDiePie and Power of Social Media Influencers (Video)
”We have to rethink the way we look at talent,“ Rick Hess, founder and manager of Evolution Media Partners, says at TheWrap’s sixth annual media leadership conference
Digital content providers are revolutionizing the way investors look at entertainment and engaging audiences.
“We have to rethink the way we look at talent,” Rick Hess, founder and manager of Evolution Media Partners, said Tuesday at TheWrap’s sixth annual TheGrill media leadership conference.
“It’s more about influencing,” Hess said. “I’m fascinated by PewDiePie. It’s an extraordinary following that he has and presence on the largest video platforms today. He can move the needle, so he becomes an influencer and a marketer and an entertainer all in one.”
Hess was one of three players in the world who discussed the digital revolution on a panel moderated by Brian Weinstein, head of corporate finance for CAA.
“Most of these new voices and platforms that are popping up — it comes from a deep level authenticity, younger audiences looking for trust in something that they understand,” Mark Terbeek, a partner at Greycroft Partners, said. “That’s why I think PewDiePie is this crazy phenomenon. People relate to him ad he’s kind of awkward and he’s not this perfect looking kid in the kind of Hollywood-molded image.”
And even as these YouTube stars achieve higher levels of fame and major sponsorships, their followings are more than willing to come along for the ride.
“We found with YouTube influencers trough our ownership of Fullscreen, there was always this concern that is there audience going ot think they’re selling out once they start to take in advertistements from a big brand,” Jacobs said. “And it was sort of the opposite… The community really embraces that endorsement.”
Jesse Jacobs, president of The Chernin Group, spoke about his company’s desire to get into the digital space by investing in companies like Crunchyroll, which allows subscribers to stream the latest anime content.
“At the time they were doing about 200,000 paid subscribers,” Jacobs said. “Today they are well north of 600,000.”
There’s often a commercial value to providing premium content to niche audiences like anime fans. “They’re incredibly active on the message boards, they’re going to live events, they’re taking pictures of themselves in cosplay — a lightbulb went off that we can be active in these content companies and services that are very targeted that’s reaching a passionate community,” he said. “That’s an area we want to be in.”
TheGrill's Speakers Exclusive Portraits (Photos)
Time Warner Inc. Chairman and CEO Jeffrey Bewkes
Jonathan Alcorn
Vice Chairman, NBCUniversal Ron Meyer
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PepsiCo, Inc. CMO of Global Consumer Engagement Frank Cooper III
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Red Bull Media House Managing Director Werner Brell
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Saban Films President Bill Bromiley
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TheWrap Executive Editor Joseph Kapsch
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'Rectify' actress Abigail Spencer
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TheWrap contributor Jon Erlichman
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Box Head of Media & Entertainment Josh C. Kline
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CEO of FlinkFame.com Dan Steneker
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Executive Vice President Corbis Entertainment Mark Owens
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Defy Media President Keith Richman
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Co-Founder and CEO, Crowdfunder Chance Barnett
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Founder and Co-Managing Partner, Evolution Media Capital Rick Hess
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Partner at Liberman Zerman Management & Crescendo Productions Lenore Zerman
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Head of Digital Media, United Talent Agency Brent Weinstein
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Co-Founder and Chief Development Officer, Indiegogo Danae Ringelmann
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Partner at Greycroft LLC Dana Settle
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Indie Film Producer Sev Ohanian
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President, BuzzFeed Motion Pictures Ze Frank
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Founder, Blumhouse Productions Jason Blum
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President & Founder, MiTu Network Beatriz Acevedo
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Chief of Staff Epix Nora Ryan
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Co-Founder, TAPP Jeff Gaspin
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President, Sony Pictures Entertainment Motion Picture Group; President, Columbia Pictures Doug Belgrad
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President & CEO, AMC Networks Josh Sapan
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Founder & CEO NELAT Shlomo Zirdok
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President of Domestic Theatrical Marketing, 20th Century Fox Marc Weinstock
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President of Walt Disney Studios Motion Picture Production Sean Bailey
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President, Creative Development & Worldwide Production , Warner Bros. Pictures Greg Silverman
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President of Worldwide marketing, Universal Pictures Josh Goldstine
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President, Worldwide Marketing & International Distribution, Warner Bros. Pictures Sue Kroll
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Co-founder & CEO, SG & Co-founder of MySpace Chris DeWolfe
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Co-founder, YouTube & Co-creator, MixBit Chad Hurley
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CEO, C4 Exclusive Research Partner Vincent Bruzzese
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Head of the Corporate Finance Group, Creative Artists Agency Brian Weinstein
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Partner, Shamrock Capital Advisors Andy Howard
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Photographer Jonathan Alcorn shoots this year’s lineup at TheWrap’s fifth annual Media Leadership Conference at the Montage Hotel in Beverly Hills.