KlickableTV presented a panel discussion last Thursday (11/13) in New York City on how technology has influenced the changing landscape of traditional media.  The audience, which ranged from content creators to technologists to marketers to talent, came together to address the issue of how traditional media as we know it will soon be gone and what the panelists thought producers should do to embrace the transition, and what is in store for the future.  The panel was comprised of leading experts in their respective fields: 

Genna Terranova, Senior Programmer, Tribeca Film Festival

John Vanco, Vice President & General Manager, IFC Film Center

Christopher Horton, Head of Acquisitions, Cinetic Rights Management

Paul Kontonis, Chief Executive and Co-Founder, For Your Imagination

I, Roger Wu, President and Co-Founder of KlickableTV moderated the panel and here are my notes (a paraphrase of what the panelists said):

Roger Wu: How has the Internet changed your business?

Chris Horton: Cinetic started looking at digital distribution about a year ago.  We license properties across multiple platforms including itunes, amazon, YouTube, Hulu.  Our business wouldn't have existed without the Internet. 
John Vanco: The Internet has helped him with the marketing of films that don't open in New York or Los Angeles.  Audience in smaller cities across the country can easily punch up reviews and commentary online that will drive them to watch the film through VOD, or other means. 
Genna Terranova: More short films are coming online.  However people were still hesitant with features, since they weren't sure how they could exploit those rights later.  Marketing and dissemination of information especially via social networking make things more accessible and more viral.
Paul Kontonis: With the internet the barriers to distribution are gone and content is no longer constrained by retail shelf space or curators at a film festival.  Every content finds its audience, and the content gets to the people instead of letting the people come to it.  Exposure online is good, but making money has yet to follow, so sometimes you'll actually make more money from not producing something than actually producing it. 

RW: While a few crossover stars like LisaNova has made it, even more shows like Quarterlife have bombed.  is there any potential for an online property to make it offline in a traditional sense?  

GT:  It's a great place to find new talent, but its still a different format, at least for the feature length film.  Great commercial director's talent might not translate into directing a feature. 
PK:  Early days still.  Two years ago people got 10,000-30,000 views immediately on YouTube, and if  featured, they would get 2m views.  Today the average number of views on YouTube is TWO.  There's become a lot more competition online and the cream rises to top.  FYI is producing a film called "i want my three minutes back" about how the early YouTube people that got lots of views bombed when they made the crossover.
CH:  Wayne Wang, a Cinetic client, premiered his feature, the Princess of Nebraska in the YouTube screening room and received 300,000 views on YouTube to a lot of great reviews and tons of press.  it would be #10 in box office if dollar figures could translate
JV: Features and shorts are two different worlds.  Don't draw too many parallels.  Going to the movies is part of our culture.

RW: How do we monetize?
(Action) Mic was passed from JV to CH to GT and ended at PK who had no one to pass it to.

PK:  There are five ways to monetize content: advertising,  sponsorship, licensing,  merchandising, and  custom production.
Advertising includes the pre rolls and overlays ranging from $3-$10 CPM and usually can sell 40-50% of inventory.  It's not great way of making money.
Sponsorship is when a brand aligns itself with your content whether thru product placement or branded integration.  It works well in the infotainment space with shows like DadLabs, with a more robust $40-$80 CPM although that's not the way that its sold. Content creators can usually sell this before they create the content. 
Merchandising is self explanatory; selling T-shirts / DVDs / books / posters.
Licensing is having someone pay for your content.  About 250 sites globally.
Custom production is when someone sees your work and hires you to make something for them as a work for hire.  For Your Imagination is trying to define that marketplace.

CH: It's still early days and people are still embracing the concept.  Cinetic is trying to  expand the number of non exclusive platforms that they can license to.
GT: There's no answer to this question.  The unions all protested since they wanted to know how these rights will be exploited.  As a content creator you should educate yourself on distribution and learn about your rights.  Also look at marketing.  How do you get noticed?  How do you get your film to rise to the top?  There's advertising, a NY Times review, and now social networking, which is the new way to get buzz.  How do you get to those people in niche markets?   Getting on Indiewire or Ted Hope's blog will get you noticed. 
JV: People aren't watching more movies.  There's a finite amount of time and short form video is another form of competition for the time.   Essentially we are recutting the same pie which may even be getting smaller, since with DVD's and VHS people would  buy things that they wouldn't watch.  People are not stockpiling files of 1's and 0's to show off to their friends.  Four Eyed Monsters, the first indie film on itunes, had a huge community and was very successful.  With it there was a sense of the new, and conventional media picked it up.  Wayne Wang was also a first.  When we get past these firsts, then what people are devoting their time to becomes a different thing.   

RW: What are interesting things that you've seen that melds technology with content and are these things a fad?
CH: Social networking factors in.  Years ago a Beekeeping movie called Ulee's Gold had tons of beekeepers writing in about how they could see the film.  It was one niche and now with the Internet there is a limitless supply and democratization of content; content that speaks to the passions that people have.  It's smart to promote through the social networks. 
GT:  Ton of companies doing the same thing and it all depends on where advertisers go.  A cool site though is The Auteurs, which has art house and old classic cinema.  You can watch on there and then recommend films through Facebook. 
PK: An article that you should Google is "monetize your audience and not your content."  Technology wise: cool things like Klickable video and this head replacement technology.  
JV: Uee's Gold is interesting because of its niche demographic, which is why documentaries do really well.  IFC is releasing the Business of Being Born, which won't make $20 million but will find its core passionate audience.  The more specific it is the more likely it will be successful than just another sketch comedy troupe.  IFC is also releasing a yoga movie which should do well.  With this niche content, you can skip national media and advertising. 

Question from the audience: With this new distribution, does everything become blair witch project?  Does this affect what is getting produced?  Will the huge movies stop being made?

JV: I think they will still keep getting made.  There are ancillary forms of revenue from DVD, merchandise, foreign rights, books, sequels, etc.
CH: Studios are putting more resources into tent poles. 

That was it.  An hour later audience members were thirsty for the open bar.  Rightfully so, since part of the purpose of our panels is not only to educate but to also bring together these two disparate industries.  We hope to see you at the next event!

 Special Thanks to

• WellcomeMat.com for video
• Leora Israel for photos
  
• Sean Gallagher for external relations
  
• Retreat NYC for venue
• Social Diva's own Peg Samuel for showing up
• Nikhil Ramchandani for door services