BEMT DRAFT SYLLABUS

COURSE IS UNDER REVISION TO GO DEEPER ON FEWER SUBJECT AREAS

MKTG–UB.0023.04 (2 credits) TECHNOLOGY’S IMPACT ON ENTERTAINMENT AND MEDIA Spring 2018 |Wednesdays 6:30p -7:45pm Classroom: UC24

Professor: Scott Schiller Office Hours : By Appointment Phone: 917-513-7469 Email: [email protected] TF: Charlie Walters Email [email protected]

COURSE BACKGROUND

From the eyes of most consumers, media is very simple today: You want your content, your searches, your clicks, your social media comments. Whatever. Whenever. Wherever. Everyone’s a media publisher; everyone’s a media company.

Technology has changed consumer behavior and expectations forever and is forcing dramatic evolutions of all forms of media and entertainment.

How did this happen? Why did this happen? What will happen next?

This course is designed to provide you with a r eal-world perspective for understanding the entertainment and media industry through the eyes of the technology -driven disruption that it is currently experiencing.

By the end of this class, we hope that you will be conversant in the major issues, challenges, and opportunities that currently consume the management teams and investors/boards of media entities – both large and small. Through group work, class discussions and the investigation of real -life examples, you will further develop the skills/currency needed to succeed in any fast -moving business today.

Having been fortunate to work at some of the most esteemed companies in media, I have experienced the dramatic changes that have consumed the media ecosystem. Today, with more content than ever, the proliferation of social media to distribute it, on- demand content like Netflix and Amazon, technology such as gaming computers and consoles, smartphones, and hardware like Roku and Amazon Fire, media players are all fighting for market share and revenues like never before.

But way more is happening and will happen. Evolution of government policy on issues such as privacy and net neutrality, for instance, have important industry implications. And Artificial Intelligence, Augmented Reality, voice-enabled technology, and 5G networks are just the newest disrupters.

How will these technologies impact entertainment and media in the years ahead? That’s what we’ll tackle.

COURSE OBJECTIVES:

Specifically, you'll:

1. Identify the strategies followed by leading media players to create and monetize content. 2. Examine the evolution of core business models in media/entertainment to understand how media has and is changing . 3. Evaluate and analyze the critical industry and consumer trend s and the resulting opportunities. 4. Explore whether the media/entertainment industry could be for you?

REQUIREMENTS:

Grades are determined on the following basis:

Class Participation 30% Midterm Essay 30% 2 Group Presentations 40%

OVERALL CLASS SUCCESS:

➢ This class is designed to help you understand how technology has changed the media landscape what the future could be. ➢ We will draw primarily from real-life headlines and case studies. This class is intended to be very practical (rather than theoretical). Keep current on the relevant headlines we’ll discuss in class ➢ Case studies, industry guests and in -class discussions of articles/issues will underscore the concepts we discuss. ➢ Show up on-time. – like a meeting at work – you don’t sh ow up late. ➢ Be inquisitive and ask questions. ➢ Respect the contributions of your classmates. ➢ Have fun – it’s not worth it if you don’t.

REQUIREMENTS/EXPECTATIONS:

CLASS PARTICIPATION (30%):

➢ Each week (with some exceptions), I will ask some of you (or all of you) in advance to bring in and join in a discussion of something you’ve read related to the topic of the week from one of these sources: o NE WS : NY P ost / WS J C MO / Axios / R ecode / B usiness Insider o ENTER TAINMENT: Deadline Hollywood / The Wrap / Variety o ME DIA: Advertising Age / AdWeek / Mediapost / C ynopsis / MediaVillage o TECHNOLOGY: Ad Exchanger / Beet TV / Digiday o INDUS TR Y OR GANIZATION: IAB S martbrief ➢ P articipation could mean speaking in class but also might encompass small group conversations, too. We’ll mix it up. ➢ C ome prepared with questions and answers having read and analyzed the topics, ready to participate. You are welcome to talk to your classmates and form opinions. Entertainment and Media is a team sport. ➢ Your willingness to “dive in” and offer perspectives and opinions on the case examples each week will help you grow. ➢ How you approach a question is most important: discovery is a process. ➢ Out-of-the-box thinking, taking risks, and curiosity is encouraged. ➢ Be brave. Be bold. ➢ Remember, passion and enthusiasm for the subject are required to be successful in any career, especially entertainment and media. ➢ Any surveys (including the pre-class survey, outlined in the weekly description) will count towards class participation.

ESSAY MIDTERM (30%):

➢ You will have one written assignment. ➢ For the essay, we will ask you to answer a question regarding technology’s impact on entertainment/media. ➢ We will provide the prompt in class, the week before Spring break. ➢ P aper to be submitted via Turnitin, by noon, on April 10 th. ➢ Writing for business requires concise verbal and written communication. ➢ Typed double-spaced; 1000 words. ➢ Please take the time to organize your work ➢ You may want to construct charts or exhibits only if necessary, and not included in the 1000 words to communicate your thoughts. The analysis is key. What does the data mean?

TWO GROUP PROJECTS (40%):

S uccess in the media and entertainment industry often involves group effort. Consequently, learning how to work effectively as a team is a critical part of your business education.

We will support your efforts as necessary, so everyone succeeds.

➢ There will be two projects/presentations. ➢ Most groups will have four people, and two might have five people. ➢ You will be asked to present for 5 minutes, mirroring a quick but effective business-style presentation. ➢ We expect that over the two presentations, each student will present at least once, but all group members do not have to present each time. ➢ Groups for each project will be assigned during class in Weeks’ 3 and 10 ➢ Presentations will be on: th o Week 7 – March 1 3 o Week 14 – May 1st ➢ You will be graded as a group, in teams of four or five. ➢ Every teammate is expected to carry an equal share of the group’s workload. As such, it is in your interest to be aware of all of the aspects of the project. Ideating, writing, presenting, etc. ➢ Even if you divide the work rather than work on each piece together, you are still responsible for each part. ➢ The group project will be evaluated as a whole. You all will receive the same grade. ➢ Each group shall establish ground rules early in the process to facilitate joint work, including a problem-solving process for handling conflicts. We will assign groups for each of the two projects. ➢ In the infrequent case where you believe that a group member is not carrying out his or her fair share of work, you should resolve conflicts internally with your best efforts. Professor or TF is the last resort. Doing this is like going to the boss if you and your co-workers can't get along. Everyone loses.

UNIVERSITY POLICIES:

Notebook Computer and Phone Policy Please do not open your notebook computer. Please turn off and put away all phones.

Note Taking: Studies have shown that old fashioned, handwritten note taking is the best way to retain concepts – let’s abide by this. If you must use a laptop for notetaking, please see me.

Attendance/Tardiness The class will start and end promptly. Show up ready to start promptly and be respectful of the group. Punctuality is i mportant here, in business, for your future. You are allowed no more than two absences from class (excused or unexcused). Media is a participation sport! Showing up late or missing a meeting is disruptive at work.

Academic Policies For information on Stern’s Academic Policies including Student Code of Conduct and In-Class Behavior & Expectations, please see the link: http://www.stern.nyu.edu/portal -partners/current -students/undergraduate/resources - policies/academic -policies

Cheating/Plagiarism All students are expected to abide by the NYU Stern Student Code of Conduct.

Students with Disabilities Students whose class performance may be affected due to a disability should notify the professor early in the semester so that arrangements can be made, in consultation with the Henry and Lucy Moses Center for Students with Disabilities, to accommodate the ir needs. Please see http://www.nyu.edu/csd for more information.

Re-Grading In line with Grading Guidelines for the NYU Stern Undergraduate College, the process of assigning of grades is intended to be one of un biased evaluation. Students are encouraged to respect the integrity and authority of the professor's grading system and discouraged from pursuing arbitrary challenges to it. If you feel that an inadvertent error has been made in the grading of an individua l assignment or in assessing an overall course grade, a request to re -evaluate your grade may be submitted in writing to your TF within seven days of receiving the grade. Yop¨might be asked to include a brief written statement as to why you believe that an error in grading was made.

In line with Grading Guidelines for the NYU Stern Undergraduate College, the process of assigning of grades is intended to be one of un biased evaluation. Students are encouraged to respect the integrity and authority of the professor's grading system and discouraged from pursuing arbitrary challenges to it. If you feel that an inadvertent error has been made in the grading of an individua l assignment or in assessing an overall course grade, a request to re-evaluate your grade may be submitted in writing to your TF within seven days of receiving the grade. Yop¨might be asked to include a brief written statement as to why you believe that an error in grading was made.

Technology’s Impact on Media/Entertainment Course Outline, Session Dates and Material to be Covered

*Note: Additional articles will be assigned throughout the semester as current events unfold. These additional articles will be e -mailed to all students in advance of any relevant class sessions.

INTRODUCTION -WHAT IS A MEDIA 1. January 30 COMPANY?

DISCUSSION:

➢ Welcome to the class – who’s in the class – review survey. ➢ What’s the course about? Expectations. ➢ S yllabus review - Key questions of the course

➢ What is an entertainment/media company? ➢ What exactly is content today (really needs to be a broad definition)? ➢ What exactly is media (really needs to be a broad definition)? ➢ Who are the principal constituents for success?

ASSIGNMENT: ➢ Please answer the pre/class survey (you'll receive it in an email from me) by 11.59pm on Monday, 1/27/19 , (Counts towards class participation)

2. February 6 EVOLUTION OF THE ECOSYSTEM

DISCUSSION: The history of the media ecosystem here in the United States. How did technology drive modern entertainment and media from its beginning? What are the foundational elements? What does it look like today? What are the implications for the media and entertainment business today?

➢ B irth and evolution of advertiser-supported media 1950’s to present ➢ Technology drivers ➢ How does it look today, from consumption point-of-view? ➢ The big picture of consumer media consumption when comparing above in minutes and dollars ➢ The share of entertainment: media, entertainment, electronic gaming, and sports, including esports

READINGS FOR THIS CLASS (READ BEFORE CLASS):

o Recode: Chart of Current Media Landscape (NYU Classes) o P ivotal 2019 P redictions (NYU Classes) o eMarketer: TV Ad Spending To Fall in 2018 (NYU Classes)

3. February 13 EMBRACING TECH: MUSIC INDUSTRY'S FAIL

DIS CUS S ION: The history of the music business and how it was disrupted by NAPS TER and the birth of "file sharing."

➢ What are the main lessons to be learned here? ➢ Napster? Walkman? Who’s in control? ➢ How has the business model changed today? The rise of Companies like S potify, iTunes, YouTube Music, etc. ➢ The power of Taylor S wift and others vs. the labels? ➢ Winners/Losers ➢ Implications for other entertainment industries? ➢ Feedback on course so far (to be turned in at the end of class – counts for class participation)

READINGS FOR THIS CLASS (READ BEFORE CLASS):

➢ Music Industry and the Internet (HBS Case) ➢ Streaming Accounts for 75% of Music Industry Revenue (NYU Classes) ➢ Is Spotify Wiping Out Music’s Middle Class? (NYU Classes) ➢ Why Spotify Stock Is Only Up 3% in 2018 (NYU Classes) ➢ Taylor Swift – WSJ Op-Ed (NYU Classes)

4. February 20 ADAPTING TO CHANGE: PRINT AND RADIO DIS CUS S ION: Print and R adio are legacy businesses that have historically been slow to adapt to technology. The major publishers like Conde Nast, Time Inc., Meredith, and Hearst have all undergone a dramatic change in the last two years. The New York Times' most valuable asset is its building, but it is making a go at reinventing its business online.

PRINT: ➢ Did Print learn from the Music Industry? ➢ How has technology (e.g., the tablet, iPhone, etc.) – helped or hurt? ➢ Apple launches Apple News and buys Texture in 2018 – to what end? ➢ B ig Trends to understand: o Declining circulation, the vast increase in competitors o S hort-form journalism o S ponsored content o Adv vs. subscription ➢ Winners/Losers

RADIO: ➢ Radio was the first mass medium; grew into the driver of local economies ➢ Today “radio” is “audio” ➢ Impact and proliferation of podcasts, streaming, etc. ➢ Winners/Losers: READINGS FOR THIS CLASS (READ BEFORE CLASS):

➢ Newspapers Fact Sheet (NYU Classes) ➢ NYT Is C lawing Its Way Into The Future (NYU Classes) ➢ S irius Acquires P andora (NYU Classes) ➢ Apple Launches “Texture” (NYU Classes)

5. February 27 CONTENT CREATION AND TALENT

DIS CUS S ION: Technology has had/is having a dramatic effect on not only the distribution of content but its creation as well. The longtime business models are turned on its head. Social media has made anyone a talent/influencer. What are the latest trends? How will this affect the current ecosystems of production? Of creation? Of distribution?

➢ Media content creation-- every company (brands and agencies) and every person (influencers and crowdsourced creative) is creating media/entertainment. ➢ New players and platforms have emerged such as SnapChat; Twitch. ➢ Talent has evolved from Motion Picture and Television stars to You Tubers, like PewDiePie, and Instagram influencers such as the Huda Kattan and Kylie J enner. ➢ Where does it begin and end?

READINGS FOR THIS CLASS (READ BEFORE CLASS):

➢ S napchat Has Lost $20bn In Value S ince IPO (NYU Classes) ➢ What Is Twitch? (NYU Classes) ➢ Logan Paul Makes $14.5mm Amidst Scandal (NYU Classes) ➢ 3 Must See Developments In The Content Wars (NYU Classes)

ASSIGNMENT DUE FOR THIS CLASS: ● Pick a platform and influencer – write up a paragraph on what makes this platform/influencer engaging? To a demographic (define); marketer/advertiser? Do they have a business model and how has it evolved?

6. March 6 BRANDS, ADVERTISING, AND NEW FORMATS DIS C US S ION: With so many ways to reach consumers today, and the intense proliferation of media properties and platforms, advertising must change. The best advertising must be relevant and “make sense:” to the target audience. How has brand advertising changed over the years? ➢ Creativity and immersive formats are changing the way marketers get their messages out. ➢ Custom solutions abound today to be relevant to dynamic target audiences. ➢ How is advertising measured today? And, what is the role data plays? ➢ Any examples of how Artificial Intelligence and Augmented Reality are beginning to impact advertising and media landscape. ➢ How has advertising changed over time? ➢ Companies like Nike and Gillette are using politics/causes to their advantage – is it working?

READINGS FOR THIS CLASS (READ BEFORE CLASS): ➢ Buzzfeed – what future for native advertising and branded content (HBS Case) ➢ UB S Advertising R eport (NYU Classes) ➢ How Advertising Is Incorporating AI (NYU Classes) ➢ Nike: Colin Kaepernick Campaign Performance (NYU Classes)

7. March 13 PRESENTATIONS

The winners and losers, part 1: ➢ PIck a media company of any sort. ▪ What’s its competitive frame? ▪ Who is winning? Why? ▪ Can the loser/s be saved? ▪ What does 2019 look like for their business? NO READINGS DUE FOR THIS CLASS

SPRING BREAK

8. March 20 ● Think about how you or your families are targeted or marketed to while

you are on the break and be prepared to share or discuss examples.

● Are the ways companies communicate with you changing?

9. March 27 TELEVISION AS WE KNEW IT

DIS CUS S ION: Network Television today is still the best (and most money spent) way to reach mass audiences. That mantle has been challenged but not replaced by the larger digital players from Amazon to Facebook to Google. In the last five years, in particular, sectors of the TV economy have been hard hit. And with linear TV ratings on the decline and digital video on the rise, what does the future look like, and why?

➢ Broadcast and cable television ➢ The development of on-demand services and OTT (over-the-top) ➢ Measurement and data – what are the big issues/challenges of the day? ➢ Winners/Losers

READINGS FOR THIS CLASS (READ BEFORE CLASS): ➢ NBC Mediascapes (NYU Classes) ➢ History Of Cable (NYU Classes) ➢ The State Of Traditional TV (NYU Classes) ➢ A chapter from Three Blind Mice, TBD (NYU Classes)

10. April 3 THE RISE OF NEW PLATFORMS: ESPORTS, GAMING, DIGITAL VIDEO

DIS CUS S ION: This is the golden age of video. More content is being produced and consumed than ever. Network and cable models are challenged by on-demand streaming services delivered by over-the-top technologies. How will this change the business and consumer landscapes?

➢ The golden age of video: cable plus Netflix, Hulu ➢ Video’s ascent: R ise of digital video ➢ Measurement o C hallenges, including - the measurement coin of the realm - how it's changing from exposure to attribution driven by digital (see Hulu and turner's attribution announcements) o You only get paid on what you "measure." o Multiplatform measurement challenges

READINGS FOR THIS CLASS (READ BEFORE CLASS): ➢ Hulu: Redefining The Way People Experience TV (HBS Case) ➢ Netflix Flexes (NYU Classes) ➢ Netflix Makes Up 15% Of Internet Traffic (NYU Classes) ➢ eS ports As A Billion Dollar Industry (NYU Classes)

11. April 10 MOBILE IMPACT ON VIDEO AND ENTERTAINMENT AND MEDIA

DIS C US S ION: S martphones and mobile technology have changed everything we do as consumers. Today’s smartphones, for instance, are more powerful than the mainframe computers that took the man to the moon in the '60s.

Mobile has influenced media from a cont ent, monetization, and business standpoint. C ontent is now in the hands of consumers and has changed every form of media and entertainment, including gaming, which has eclipsed almost all other forms.

With attention spans growing shorter and shorter, the entertainment and media industries must adapt to "always connected" consumers. ➢ Mobile and its influence on media from a content, monetization, and business standpoint? ➢ How do the business models change with mobile? ➢ C onsumer privacy is especially vulnerable in a mobile world – how do this change media and entertainment offerings and consumer engagement? ➢ How will 5G affect this?

READINGS FOR THIS CLASS (READ BEFORE CLASS): ➢ Quibi Techcrunch Article (NYU Classes) ➢ 5G: The Next Tech Disruption In Media And Entertainment Is Coming (NYU Classes) ➢ AT&T Plans To Expand HBO, But Could Destroy It In The Process (NYU Classes)

12. April 17th FAANG

DISCUSSION: FAANG is an acronym for the market's five most popular and best- performing tech stocks, namely Facebook, Apple, Amazon, Netflix and Alphabet's Google. FAANG was born out of the original acronym, FANG, which did not have Apple included when C NB C 's J im C ramer coined the term (Investopedia).

➢ FAANG are the new media and societal global powerhouses, and they are on the verge of dominating entertainment and media. ➢ Additional competitors like WeC hat, S potify, also will disrupt the worldwide ecosystem, how? ➢ What’s the role of data, privacy, and “safe content” as these leaders proliferate? ➢ How will that affect commerce, advertising, and media in the years ahead?

READINGS FOR THIS CLASS (READ BEFORE CLASS): ➢ Facebook And Cambridge Analytica: What You Need To Know (NYU Classes) ➢ How WeChat Came To Rule China (NYU Classes) ➢ FAANG S tocks Not A S ure Thing In 2019 (NYU Classes)

13. April 24 THE FUTURE AND THE NEW LANDSCAPE DIS CUS S ION: A look at how mergers and acquisitions are shaping media. How are business models changing and what is being done to adapt and grow? What keeps the biggest and best C EOs up all night?

➢ R ecent deals in the media space: ➢ AT&T-Time Warner – content and advertising play ➢ Comcast-Sky – content and distribution play ➢ Disney-Fox – content play ➢ Verizon-AOL-Yahoo – new media, distribution play ➢ Apple, Amazon, Facebook? ➢ Tencent, Nintendo, R ockstar, Activision ➢ S treaming: entirely new paradigm vs. programming of yore, can all of these wannabe streaming companies be as successful as their dreams?

READINGS FOR THIS CLASS (READ BEFORE CLASS): ➢ Verizon 2018 (HBS Case) ➢ Blockchain is changing how media and entertainment companies compete (HBS Case)

14. May 1 FINAL PRESENTATIONS

➢ CR EATIVE THINKING: Pitch one of the companies that we've covered in this class an idea which takes advantage of a new technology/trend. It could be anything from a new show, to a new podcast series, to a new streaming service, to a new product or offering or anything else that encompasses changing technology in entertainment and media. NO READINGS FOR THIS CLASS

15. May 8 CAREERS IN ENTERTAINMENT AND MEDIA

DIS CUS S ION: S o, you like all this? How does one figure out how to get in the business? What are career paths and how do you gain the "right" experience? S hould you go with an established company or a start-up? Or, start your own?

We will host several experts at all levels to share their paths and insights on what to do and not to do.

Lots of Q&A, too. ➢ Careers in Media – panel/discussion

PREPARATION FOR THIS CLASS IS TBD