Why would MTV buy iFilm?
Here’s why:
“We are thrilled about the acquisition of IFILM. This move is at the heart of MTV Networks multi-platform strategy and meshes with our tradition of cultivating independent and creative brands. We’re combining the top brands in all digital media with our global reach and programming expertise to speak to consumers everywhere they live their lives,” says Judy McGrath, CEO, MTV Networks.
What radio broadcasters need desperately to understand is that you are in the business of reaching the ears of your customers wherever they are, regardless of the channel. And reaching communities of potential ears.
This has implications for what kinds of relationships your group forms and what companies it buys and in what industries.
I am very disappointed to note that I can’t think of one single significant acquisition by a broadcast company in any new media venture in the past five years.
Consider how different the MTV strategy is from the one broadcasters are settling on: The one which pins all our hopes and dreams to a new digital channel that requires new receivers in a marketplace that will already have access to unlimited choice – without commercials. The one with the fairly laughable trade-in program on eBay.
Which seems smarter to you?