ben & barry's

  Last week, while waiting for a meeting a to start, I was reading the NY Times online. They posted the headline that Ben Silverman, Co-Chairman of NBC Entertainment, had resigned to partner with media legend Barry Diller to form a new venture. A content company yet to be named or outlined in detail.

The NYT article was pretty vague. It primarily addressed Silverman's two year controversial and unsuccessful reign at NBC. I wanted details of the venture especially since Silverman was quoted as describing it as "Warner Bros meets BBDO". I switched over to the LA Times. They gave more details albeit not much more. Fortunately enough to satisfy my curiosity. It said:

"The details of the Diller-Silverman venture are vague, but at its core the plan is to get advertisers and producers together for the creation of what the industry calls "integrated" or "branded" entertainment, in which a product (brand) becomes part of the show in a seamless fashion that does not leave viewers thinking they are watching a commercial."

I thought, "holy shit", their forming Dandelion only with more money and better contacts. Okay, so they aren't exactly competitors but it is a very strong indication of where the industry is heading. I know Silverman was on his way out but who would think that a Chairman of NBC Entertainment would step down to produce web content. I'll be anxiously watching when, and if, this new venture comes to fruition.

When two industry leaders, who have built their reputations and fortunes via broadcast TV, are going to advertisers saying the traditional media model is no longer effective then it elevates the entire branded content space. Not that the space needs to be legitimized but it does still needs to be demystified. Or at the very least be accepted.

Agencies and Networks are trying to unlock the code while trying to maintain profitability and relevance. Advertisers are still scared and baffled by branded entertainment. They are more likely to sign  a 20 million media buy than a 2 million dollar brand content piece even if proven it will reach a large and interactive audience. There are many misconceptions and fear of the unknown from all sides.

Hopefully a venture of this magnitude will create the momentum and investment this space needs.