Innovation and productivity begins with programming and connecting with audiences
You could not turn on the business news channels in the past month without hearing that wages have finally started to rise. In the next breath, you’ll learn about the growing divergence between employee earnings and business profit in the U.S. and across the world. Everyone has their own theory about this “productivity gap,” which is attributed to many things including retiring baby boomers, lack of capital investment, or maybe just too many people off enjoying their summer vacations.
In the media space the gap between what it costs to make a program and the number of viewers for that program, and thus its monetization potential, has been growing for a very long time. As an example; as far back as 2007, around the days of the writer’s guild strike, we saw NBC, under its GE management, try to reduce the cost of the 8 P.M. primetime lineup by embracing non-scripted. Company management has been feeling this pinch for quite awhile.
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