00:00Welcome back to Bloomberg Screen Time. We have a jam-packed day today. We have the ability to
00:14both win in content and also become the most technologically capable media company to effectively
00:20navigate this transition. Our North Star is do the work. Keep your head down and do the work.
00:26There's always going to be speculation in our business. We're in a massive time of disruption.
00:31What some of these generative AI models look like they're going to do is they're going to reduce the cost of producing content to basically zero.
00:38So that will be a multiplier effect on the things that we're already seeing.
00:46Much like gaming, which gives a streamer stimulus to respond to and entertain, I think AI gives a streamer stimulus and tools that they can express and entertain their own.
00:56Okay.
00:57For me, I really, really prefer not to use AI for any creative endeavors. However, we'll see how tools are developed over time and whether or not it makes sense for me to tap into. But for now, I really try to use my own two hands.
01:11These are the artists, musicians, executives, and others who are reshaping the business of entertainment and putting their stamp on culture.
01:19I think that AI is going to be our co-pilot and really make media creation easier for everyone. As AI video gets better, I expect, especially in the creator economy, for creators to start licensing out their likeness, for example, so they have more time to be able to create content authentically.
01:35Entertainers in general are very insular. They're creative people. They don't stand up for themselves. They don't band together and use any sort of collective.
01:44They use you.
01:45Yeah, but, you know, what are there, thousands of managers? We're like spitting in the ocean to YouTube.
01:51The town's Hollywood stock market.
01:53My first sell high is basically the AI freakout.
01:58Josh DeMauro is a buy.
01:59This is Bloomberg Businessweek Deli. We're live at Bloomberg Screen Time.
02:04Our leadership, citywide, statewide, have an arrogance to them that they seem to think that since the entertainment industry was born here and built here, that they don't need to attend to it and it will just stay here.
02:18But that's not the reality.
02:20When you look at the deal and you acquired it for about $250 million, are you looking at this as a double bottom line, like what can you do also for the community, or you just think that this could be a 3 or 4x in the next 5 or 10 years?
02:34So community impact was embedded in the business model.
02:38They pick AWS because we have the most purpose-built services to meet the evolving needs of the industry.
02:43We pitched it everywhere and everyone said no.
02:46And I was ready to move on.
02:47Well, and the feedback was, it feels small.
02:51Yeah, like it feels niche.
02:52But 10 million views in four days is not niche.
02:56Would you rather have a movie growth a billion dollars or win Best Picture?
02:59I feel like I won an award every day I step on set and we get to call action, you know, and we get to rap and then come back the next day.
03:06So I'm the wrong person to ask if one incredible movie making a billion dollars, which in a capitalistic way is nice, but in a cultural way, that means a lot of people went to go see the movie in the theater.
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