So quoth Jeffrey Katzenberg, whose business – make that whose life – is knowing these things:
by David Bloom
So now we know. After getting roasted by some competing studio heads (if not on Wall Street) earlier this year when he said movies are “not a growth business,” DreamWorks Animation CEO Jeffrey Katzenberg traveled south to Anaheim…to talk about online video, a business he does see growing into the next big entertainment business platform.
Katzenberg sat down onstage with Hank Green, himself a prominent video blogger with brother John Green, author of The Fault in Our Stars. The brothers are co-founders of Vidcon, the massive industry confab and fan festival filling the Anaheim Convention Center the next three days. Katzenberg used the friendly audience of video creators, distributors and others in the business to talk about why online video, particularly on YouTube, is such a promising creation and distribution platform for a new generation of talent outside traditional Hollywood.
“I think the opportunities ahead are so immense,” Katzenberg said. “This platform is in its infancy. Monetizing that is still a struggle. What we will see in a very short period of time, that will all start to migrate up to the top of the pyramid. I believe in five years, 95 percent of the value will come from the top 5 percent” of video creators.
And DWA already has invested substantially in the space, buying multi-channel networkAweseomenessTV a year ago and launching the daily video digest YouTube Nation about four months ago. Last week, the company officially announced the programming slate for DreamworksTV, another YouTube channel under Awesomeness that will feature short animations involving notable DWA characters such as Shrek and Po the Panda, along with planned animated series featuring characters from its Classic Media library acquisition.