|Coming in at #8 on our Summer Review Countdown, this Video was first released 2 months back, on June 17th.|
James Murdoch is taking the helm at 21st Century Fox as the US$32 billion revenue-generating powerhouse, heavily embedded in traditional forms of media consumption, faces a formidable challenge: how to adapt to a world where consumers are embracing new ways to watch and engage with their favorite movies and shows, but monetization models are struggling to keep up.
Murdoch, who formally becomes CEO July 1, is up for the challenge, sharing his vision for 21CF in his recent keynote at APOS 2015.
Success hinges on ensuring that 21CF is agile enough to respond to new opportunities, while remaining big enough to deliver the kind of returns that the most popular creative talent – ultimately the wellspring of 21CF’s prosperity – are looking for, and that shareholders are keen to invest in.
In his APOS keynote conversation with Media Partners Asia director Vivek Couto, Murdoch outlined the path that 21CF should follow as the media industry as a whole navigates a key transitional phase. Our video has the key highlights.
Murdoch also assumes the leadership role with a broad a swathe of geographical experience in Europe and Asia.
In Asia, he ran Star – then part of News Corp – at the turn of the century from 2000 to 2003, and played an instrumental role in restructuring News Corp’s Asian broadcast assets in 2009, spinning out the China and India operations while merging the remaining properties with the fast-growing Fox International Channels (FIC) operations in 2009.
Star India has continued to thrive since, expanding into regional languages, sports and OTT distribution.
While Star China has since been sold, expect more investment in local content and IP as well as streaming bets across Asia to maintain momentum in promising growth markets in South and Southeast Asia.
It’s a pattern also established in Europe, where Murdoch brought together distribution business across Germany, Italy and the UK in another bid for scale.