Latest / Earn Your Leisure / Cliff Notes: Stephen A. Smith Talks Media Evolution

Transcript

Cliff Notes: Stephen A. Smith Talks Media Evolution · Earn Your Leisure

• 0:01
  Speaker 1: This episode is brought to you by P and C Bank.
• 0:04
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:07
  Speaker 1: and sure they definitely can be, but understanding a professionals
• 0:10
  Speaker 1: routine shows us how they achieve their success little by little,
• 0:14
  Speaker 1: day after day. It's like banking with P and C Bank.
• 0:18
  Speaker 1: It might seem boring to safe plan and make calculated
• 0:21
  Speaker 1: decisions with your bank, but keeping your money boring is
• 0:24
  Speaker 1: what helps you live or more happily fulfilled life. P
• 0:28
  Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
• 0:32
  Speaker 1: Boring since eighteen sixty five is a service mark of
• 0:35
  Speaker 1: the PNC Financial Service Group, Inc. P and C Bank
• 0:39
  Speaker 1: National Association Member FDIC.
• 0:44
  Speaker 2: Erness What's Up?
• 0:45
  Speaker 1: You ever walk into a small business and everything just
• 0:47
  Speaker 1: works like the checkout is fast, the receipts are digital,
• 0:51
  Speaker 1: tipping is a breeze, and you're out the door before
• 0:54
  Speaker 1: the line even builds. Odds are they're using Square? We
• 0:58
  Speaker 1: love supporting business that run on Square because it just
• 1:01
  Speaker 1: feels seamless. Whether it's a local coffee shop, a vendor
• 1:04
  Speaker 1: at a pop up market, or even one of our
• 1:07
  Speaker 1: merch partners. Square makes it easy for them to take payments,
• 1:11
  Speaker 1: manage inventory, and run their business with confidence, all from
• 1:14
  Speaker 1: one simple system. If you're a business owner or even
• 1:18
  Speaker 1: just thinking about launching something soon, Square is hands down
• 1:21
  Speaker 1: one of the best tools out there to help you start, run,
• 1:25
  Speaker 1: and grow. It's not just about payments, it's about giving
• 1:28
  Speaker 1: you time back so you can focus on what matters
• 1:31
  Speaker 1: most ready. To see how Square can transform your business,
• 1:34
  Speaker 1: visit Square dot com backslash, go backslash eyl to learn more.
• 1:39
  Speaker 1: That's Square dot com backslash, go backslash eyl. Don't wait,
• 1:44
  Speaker 1: don't hesitate. Let's Square handle the back end so you
• 1:47
  Speaker 1: can keep pushing.
• 1:48
  Speaker 2: Your vision forward. How do you see the media business
• 1:54
  Speaker 2: pivoting on the economics side and what's your plan person, Well,
• 2:00
  Speaker 2: podcast wise, it's already pivoted.
• 2:02
  Speaker 3: You've got thousands upon thousands of podcasts, so there's no
• 2:06
  Speaker 3: way to get around that. I'm proud of my man,
• 2:09
  Speaker 3: Shannon Sharp Club Shay Shay doing his thing, no doubt
• 2:13
  Speaker 3: about it. The Cat Williams interview was off the chain,
• 2:15
  Speaker 3: and I think more than half of his subscribers came
• 2:17
  Speaker 3: because of that interview alone, So major, major props to
• 2:20
  Speaker 3: him for pulling that off and doing what he did,
• 2:24
  Speaker 3: and he deserves a lot of credit, but Nightcap ain't
• 2:26
  Speaker 3: nothing to sleep on either with him and o Cho
• 2:29
  Speaker 3: Senko may and give it arenas you know, so major
• 2:33
  Speaker 3: props to them for that. But I would tell you that,
• 2:38
  Speaker 3: you know, when you see the paradigm shifting in our
• 2:40
  Speaker 3: media business, it's because the public has stated we're not
• 2:45
  Speaker 3: interested in linear television as much as we have. What
• 2:49
  Speaker 3: people are confused about is that doesn't mean they're not
• 2:52
  Speaker 3: interested in the content that linear television provides. They just
• 2:56
  Speaker 3: wanted in a different platform than linear television provides. They
• 3:00
  Speaker 3: don't want it on a TV screen where you got
• 3:02
  Speaker 3: to buy a TV. They want to be able to
• 3:03
  Speaker 3: watch it on their phone. They want to be able
• 3:04
  Speaker 3: to watch it on their iPad or their laptop or whatever.
• 3:07
  Speaker 3: And not only that. If you really really think about it,
• 3:10
  Speaker 3: it's nothing different than what society has done for ages.
• 3:14
  Speaker 3: Youngsters dictate the direction. They may not pay the bills,
• 3:19
  Speaker 3: but they dictate the direction. So it's like a kid
• 3:23
  Speaker 3: that's growing up, right, Well, you know what, I don't
• 3:26
  Speaker 3: feel like doing this.
• 3:27
  Speaker 2: I feel like doing that.
• 3:29
  Speaker 3: I want to go to the movies, but then after that,
• 3:31
  Speaker 3: I want to go to the amusement partner. Then out there,
• 3:33
  Speaker 3: I want to go to Cony of you in New York,
• 3:35
  Speaker 3: you and Brooklyn. I want to go to Coney Island. Well, hell,
• 3:37
  Speaker 3: I want to go to six Flags. Well, damn it,
• 3:39
  Speaker 3: not six Flags. Now, I want to go to six
• 3:40
  Speaker 3: Flags out of Virginia. Okay, Oh by the way, now
• 3:43
  Speaker 3: let me go to Disneyland. Oh that's an Anaheim. Oh
• 3:45
  Speaker 3: damn it, Disney World. I'd rather go there. You see
• 3:48
  Speaker 3: what I'm saying. History has shown us that these transitions,
• 3:52
  Speaker 3: that trans that take place, it's dictated by our youth,
• 3:56
  Speaker 3: not financed by it, but dictated by it. Because because
• 4:00
  Speaker 3: if you're a parent, you're going to give the kid
• 4:03
  Speaker 3: what they want for the most part, if you can
• 4:05
  Speaker 3: afford to do it, and they deserve it.
• 4:08
  Speaker 2: Well, guess what. That's exactly what's happening now.
• 4:12
  Speaker 3: The kids are telling the parents who happen to be
• 4:15
  Speaker 3: executives at the linear networks, this is what we want.
• 4:19
  Speaker 2: Not only that streaming.
• 4:21
  Speaker 3: Has proliferated, and so when you look at Amazon, Apple,
• 4:26
  Speaker 3: you know, Netflix and everybody else with you know, Prime video.
• 4:29
  Speaker 2: All of this stuff.
• 4:30
  Speaker 3: They've created different platforms that has forced the linear world
• 4:35
  Speaker 3: to capitulate to the direction that it's going in sooner
• 4:38
  Speaker 3: than it would have liked, and as a result, you're
• 4:41
  Speaker 3: seeing a dwindling number. But it makes me laugh being
• 4:44
  Speaker 3: at ESPN when people act like ESPN is losing this audience.
• 4:48
  Speaker 2: No, we're not. We're just losing it on digital. I'm
• 4:51
  Speaker 2: sorry on linear me losing.
• 4:54
  Speaker 3: In a digital stratus. Fyre go check out ESPN YouTube's number,
• 4:58
  Speaker 3: esben YouTube numbers. Look at them comp to everybody else,
• 5:00
  Speaker 3: and look at their numbers. You understand they can talk
• 5:03
  Speaker 3: about Disney Plus and stuff all they want to. Well,
• 5:05
  Speaker 3: we're talking billions upon billions of dollars that are being generated.
• 5:09
  Speaker 3: You saw that there was recently a shareholders meeting where
• 5:12
  Speaker 3: it maintained by Viger remaining.
• 5:14
  Speaker 2: As the CEO of Walt Disney.
• 5:16
  Speaker 3: What has he been talking about losing we ruling out
• 5:18
  Speaker 3: Disney Plus. We've seen them drop the ESPN phone in
• 5:21
  Speaker 3: the past. We've seen them drop other stuff in the past.
• 5:24
  Speaker 3: How come you ain't say goodbye to Disney Plus? How
• 5:26
  Speaker 3: come you ain't say good bye to the ESPN Plus
• 5:28
  Speaker 3: because there's money to be generated there.
• 5:30
  Speaker 2: You just got a master.
• 5:32
  Speaker 1: They are trying to figure out what to do with ESPN.
• 5:35
  Speaker 3: Yes, no, no, but that's only because again as a
• 5:38
  Speaker 3: linear platform. As a linear platform, okay, we might pair
• 5:43
  Speaker 3: it with Warner Brothers and Fox and what have you,
• 5:45
  Speaker 3: because we got to compete with the market cap that
• 5:48
  Speaker 3: is Amazon and Apple, all right, and even combined they're
• 5:52
  Speaker 3: worth about a little under four hundred ESPN, Warner Brothers, Discovery, Fox,
• 5:56
  Speaker 3: you worth about under four hundred billion. Well, Apple, Amazon,
• 6:01
  Speaker 3: y'all know this better than me, because y'all experts in
• 6:04
  Speaker 3: this field. They're worth nearly three trillion apiece. So that's
• 6:09
  Speaker 3: what you're competing with. They just don't choose to specialize
• 6:13
  Speaker 3: in the sports landscape the way that ESPN does. So
• 6:16
  Speaker 3: what I'm saying to you is you come to me
• 6:18
  Speaker 3: years ago. I now knew none of this. I paid
• 6:21
  Speaker 3: attention to none of this. But now I'm looking at
• 6:24
  Speaker 3: everything that's transpiring and how they're doing business where our
• 6:28
  Speaker 3: audience lies. You can't tell me, for example, first Take.
• 6:32
  Speaker 3: This is the success story of First Take in an
• 6:35
  Speaker 3: age where the linear audience is dwindling and fading and
• 6:41
  Speaker 3: shows are getting canceled.
• 6:44
  Speaker 2: Our ratings are up.
• 6:46
  Speaker 3: We're at a point now where I'm measured against me
• 6:51
  Speaker 3: the show is measured against it year over year.
• 6:55
  Speaker 2: This is what all right?
• 6:56
  Speaker 3: We up year over year for twenty consecutive months, we've
• 6:59
  Speaker 3: been up year over year. That's bringing in over five
• 7:02
  Speaker 3: hundred thousand viewers. Did you know that annually on ESPN
• 7:07
  Speaker 3: digital like YouTube.
• 7:10
  Speaker 2: Stuff like that.
• 7:13
  Speaker 3: I myself, by myself generates over two billion views a
• 7:17
  Speaker 3: year annually by myself.
• 7:21
  Speaker 2: For ESPN, for ESPN on YouTube, ESPN YouTube stuff like that. Yes.
• 7:25
  Speaker 3: Yeah, so I'm saying their platforms over two billion by myself.
• 7:30
  Speaker 3: And so when when I look at that, I'm like,
• 7:33
  Speaker 3: how could in a less audience?
• 7:36
  Speaker 2: Of course, we still have the audience.
• 7:37
  Speaker 3: They're just watching us in different platforms and you got
• 7:39
  Speaker 3: to know what those platforms are and how to monetize
• 7:42
  Speaker 3: it so you know how to make your money.
• 7:45
  Speaker 2: But the audience hasn't faded.
• 7:47
  Speaker 3: It's just that they've said, we want to watch y'all
• 7:49
  Speaker 3: on different platforms.
• 7:50
  Speaker 2: We don't want to rely on the TV to do it.
• 7:52
  Speaker 1: So this is, I mean's a couple of things to
• 7:54
  Speaker 1: unpack this. Yes, the one thing that ESPN does have
• 7:57
  Speaker 1: that the Apples and vasions don't. An Amazon has the
• 8:02
  Speaker 1: MLB and Apple has them trying to get involved, right,
• 8:07
  Speaker 1: everybody's trying to get into live sports. Yeah, obviously ESPN
• 8:09
  Speaker 1: has it with the NFL pretty much every league. As
• 8:13
  Speaker 1: you know, you're watching that as a businessman. Obviously you're
• 8:16
  Speaker 1: you're working for the company, but as a businessman, you're
• 8:19
  Speaker 1: starting to see the club Schachs right, like, yes, you
• 8:21
  Speaker 1: have your own YouTube channel, right, six hundred thousand subscribers,
• 8:25
  Speaker 1: congratulations on that, thank you.
• 8:26
  Speaker 2: Right.
• 8:28
  Speaker 1: We saw Ryan Clark recently use that as leverage to negotiate.
• 8:33
  Speaker 1: So as you're building the I P are you you're
• 8:37
  Speaker 1: looking at this like this is also my leverage, right,
• 8:39
  Speaker 1: because it's it's it's it comes to a point now
• 8:43
  Speaker 1: where if you're watching ESPN, like we watch McAfee's well
• 8:46
  Speaker 1: documented the amount of money he's making, which is congrats
• 8:49
  Speaker 1: to him because it's a totally different formatfe it's working.
• 8:54
  Speaker 1: But you watch the landscape, right, you see everybody at Fox, CBS, right,
• 9:01
  Speaker 1: you see ak Men, right, Stephen a well popular and
• 9:06
  Speaker 1: all these guys. Are you building the leverage in terms
• 9:12
  Speaker 1: of you know what my atturn is coming, let's talk.
• 9:17
  Speaker 2: I already have.
• 9:29
  Speaker 4: An illegal alien from Guatemala charged with raping a child
• 9:33
  Speaker 4: in Massachusetts, an MS thirteen gang member from Al Salvador
• 9:37
  Speaker 4: accused of murdering a Texas man of Venezuelan charged with
• 9:41
  Speaker 4: filming and selling child pornography in Michigan. These are just
• 9:45
  Speaker 4: some of the heinous migrant criminals caught because of President
• 9:49
  Speaker 4: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 9:53
  Speaker 4: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 9:57
  Speaker 4: crossings are at the lowest levels of ever recorded, and
• 10:01
  Speaker 4: over one hundred thousand illegal aliens have been arrested. If
• 10:04
  Speaker 4: you are here illegally, your next you will be fine
• 10:08
  Speaker 4: nearly one thousand dollars a day, imprisoned and deported. You
• 10:12
  Speaker 4: will never return. But if you register using our CBP
• 10:16
  Speaker 4: home app and leave now, you could be allowed to
• 10:18
  Speaker 4: return legally. Do what's right. Leave now. Under President Trump,
• 10:23
  Speaker 4: America's laws, border and families will be protected.
• 10:27
  Speaker 2: Sponsored by the United States Department of Homeland Security,