Market's Media Melt-Down - Exhibit A

Media stocks drop again.  Shock and awe?  Really?  Some will brush it off as being a market over-reaction.  But, Viacom's shareholders apparently don't think so.  Its stock has plummeted more than any other major media company (about 45% in the past six months).  And, the company is amongst those that have moved most slowly to address the new transformative market forces of voracious OTT and mobile consumption.  After all, just look at any young person around you.  What do they have in their hands and where are they looking?  Down, that's where -- at that thing in the picture to the right.  So, big media, that's where you need to be.  And not timidly either.

But, are you?  Are you boldly going ... or going, boldly?  Make no mistake -- it's "go" time.  In fact, it has been "go" time -- as in, all-in "go time" -- for a long time.  That's why Disney's Maker move 18 months ago was both bold and smart (very smart) (as I discussed in my recent Variety article "It's OK to be Bullish on MCNs").  Disney recognized that it needed a jolt of new DNA and immediate mobile reach to thrive in media's new world order.   But many are still just waking up to that fact.  Many more continue to reject it.

Mobile is Exhibit A in this fundamental media transformation.  It's absolutely the first screen for millennials (and increasingly for non-millennials).  It's not the only ingredient -- after all, let's not forget that this is a MULTI-platform world that is hungry for the most powerful stories told by the most compelling story-tellers who know how to play in it -- but it is absolutely vital.

So, media companies, which ones of you are going shopping for the multi-platform ingredients you need?  

I'd grab a cart now while the shelves are still relatively well stocked and some gourmet brands exist ....

Why I'm Still Bullish On MCNs - My Guest Article in Variety

[My article below was first published in Variety yesterday -- this is an excerpt from that article -- click here to read it in its entirety.]

MCNs (or, more accurately MPNs these days) have been getting a bad rap this past week as a result of reports surfacing that Maker Studios' "earn-out" from its M&A mega-deal with Disney will be less than the maximum $450 million (and apparently closer to 1/2 that) -- which still gives Maker execs and investors a nice little $700+ million "win."  Not bad.

The "haters," however, are using this news as Exhibit A in their case slamming the value of MCNs/MPNs -- and slamming what they say are inappropriately lofty valuations to date for relevant acquisitions (which include Otter Media/Ellation's acquisition of Fullscreen for up to $300 million, RTL Entertainment's acquisition of StyleHaul which valued the company at up to $200 million, and ProSieben's recent acquisition of Collective Digital Studio which valued the overall package at about $240 million).

But, as a person closely immersed in the overall video ecosystem who has access to numerous "insiders," I strongly disagree.  Believe they are completely missing the fundamental point (and justification for those deals).  And remain bullish.  Very.

[Click here to read my entire article/analysis in Variety ....]

"Straight Outta" N.W.A. - Launched My Career, Led to My Wife (and It's All True ...)

Straight Outta Compton is killing it at the box office.  And that is gratifying on many levels, including the personal.

You see, I started my career in media and entertainment 25+ years ago -- and N.W.A. was my most significant client as a young entertainment lawyer (and before I entered the studio life and business world).  Among other things, I defended the group in a major 1st Amendment battle -- which we won.  Obviously, N.W.A. pushed all boundaries -- especially with its lyrics.  But, that didn't mean those lyrics should be banned -- and that was the end proper conclusion by the courts.  After all, rock and roll has a long history of artists accused of inciting violence (a topic I wrote about in a 1992 article titled, "Takin' the Rap - Should Artists Be Held Accountable for Their Violent Recorded Speech?"  -- that I was able to dig up in a bit of online archeology; kind of my own personal blast from the past).

In a strange twist of fate (aren't they all, looking back?), N.W.A. also led me to my wife of nearly 20 years, Luisa.  N.W.A.'s manager, Jerry Heller (a prominent and highly controversial figure in the new movie) just happened to ask me to have dinner and drinks with him on a Tuesday night I'll never forget (February 23, 1993) at the Mezzaluna Cafe in Beverly Hills to discuss the case -- and I just happened to accept (a rare thing on a work night) -- and Luisa just happened to be working at Mezzaluna that night while going to USC -- and I just happened to build up the right amount of courage to introduce myself and invite her to a lunch with me later that week -- and she just happened to accept (somewhat grudgingly, I might add) -- and we just happened to go to dinner instead of lunch that weekend -- and, as they say, the rest is history and we have been together ever since.

Obviously, this post is personal.  And, our kids still don't "get" why N.W.A. is near and dear to us at a personal level.

But, at least Hollywood got it right by featuring a compelling story of key creative forces in the music world (Dre, Cube whose influence lasts today) and the overall crazy "times" in LA that birthed N.W.A. in the first place.  Hard to see now, but those crazy times -- in the LA world of consecutive cataclysmic events such as Rodney King, the major Earthquake, the massive Malibu fires, O.J. -- led many to question the long-term viability of the City of Angels.  Wasn't a particularly angelic time back then.

But, the times were extremely special to me in many personal ways ....

SLUSH's New York State of Mind - Major Nordic Start-up Showcase Next Week

SLUSH -- a tech and increasingly digital media mega-conference that takes place each November in Helsinki, Finland -- has fast become one of the premiere events in Europe ... and increasingly important for investors and entrepreneurs in the U.S.  I attended my first SLUSH last November (here is my overview and review of the event) -- have come to know some of its top execs -- moderated a VR panel in June at a SLUSH LA event -- and will, of course, attend Helsinki again this coming November (at which time I will moderate a top panel about the state of the digital video/OTT/MCN business that features some of the top players in the MCN/OTT world, including Allen DeBevoise, Urs Cete of BDMI, Tom Sauer of AT&T (joint venture partner in Ellation with The Chernin Group), and Christian Meinberger of Studio71(which just recently merged with Collective Digital Studio)).

The SLUSH team is both ambitious and smart.  Very smart.  I mentioned their June LA-based VR event above.  Now, SLUSH hits the other coast and focuses on NYC -- hosting an exclusive event next Tuesday in NYC at which it will showcase 10 top Nordic startups (and the entrepreneurs behind them) (here is the list of those companies to watch).

Manatt Digital Media will proudly, once again, underscore its commitment to the vibrant tech/digital media startup community in Northern Europe -- and to SLUSH itself -- by sponsoring a related lunch next Monday with those top companies and investors who may (and should) be interested in investing in them.

Full list of the "Top 10" selected by the SLUSH team for their spotlight moment is below:

FaceForce -- Finland
CosmEthics -- Finland
Toborrow -- Sweden
Soundtrap -- Sweden
SOBAZAAR -- Norway
AIMS Innovation -- Norway
Breakroom -- Iceland
Tagplay -- Iceland
Vaavud -- Denmark
EasySize -- Denmark

Outside Lands - Day 2 Highlights (& Day 3 "Must See" Band)

Third and final day at Outside Lands in SF.  Day 2's highlights -- as expected, Black Keys (they always kill it) -- but, also Billy Idol.  Yes, I said Billy Idol!  Never gets old (despite getting ... well ... older -- nearly 60 and still taking his shirt off ... THAT's bold!).  The kids loved him -- even my near 16-year and 13-year old kids (pictured to the right with Luisa and me after Day 1) anticipated his set just about more than any other.  And, it was just plain fun -- and just plain good.  His songs still rock.  I mean, "White Wedding" ... c'mon!  Lots of fist pumps and sneers in the air on Saturday afternoon in Golden Gate Park.

So, how about Day 3?  Here is my line-up for this final day (with my "must see" artist in bold -- today I really only have one):

2:45 pm -- GIVERS (one of our most anticipated sets of the weekend; saw them at Jazz Fest 3 years ago -- great live)

4:20 pm -- Hot Chip

5:05 pm -- ODESZA

5:55 pm -- The Devil Makes Three

6:40 pm -- Caribou

7:15 pm -- Slightly Stoopid

7:35 pm -- Elton John (gotta do it -- after all, he was my first concert ever "back in the day")

8:25 pm -- Axwell & Ingrosso

Outside Lands Day 2 "Must See" Artists (& Day 1 Highlights)

Yesterday's Outside Lands day 1 is in the books (another magical sunshine-filled day) -- my highlights were First Aid Kit (killed it on the main stage) -- and later Mumford & Sons (delivered a passionate performance that, for some strange reason, didn't
directly connect with the crowd).

Here is my Day 2 line-up (with my "must see's" in bold):

3:40 -- Cold War Kids
4:20 -- Angus & Julia Stone 
5:00 -- Billy Idol
6:30 -- Tame Impala
7:00 -- Ben Harper
8:25 -- Black Keys

Outside Lands Day 1 - My Picks

So many music festivals, so little time!  Today kicks off one of my favorites -- Outside Lands in San Francisco.  This is my 4th -- and this year, like last, I share the revelry with my passionate and experienced festival family (wife, Luisa; daughter Hunter, 15; son Luca, 12; brother George and his partner An).  We get there early -- and stay late -- each day.

Here is our festival line-up for Day 1 (I have highlighted my "must sees" of the day in bold).  Come walk with us ...

12:45 pm -- Broods
2:10 pm -- Robert DeLong
3:10 pm -- First Aid Kit
4:30 pm -- St. Vincent
5:05 pm -- Glass Animals
5:15 pm -- RL Grime (I know, I know -- we can't do both ... but we plan to try)
6:00 pm -- Wilco
6:50 pm -- Porter Robinson
7:55 pm -- Mumford & Sons