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YouTube Is TV, Disney Missed a Trick, and Club Penguin Could Have Been Roblox · Kids Media Club Podcast

• 0:06
  Hello
• 0:06
  and
• 0:06
  welcome
• 0:07
  to
• 0:07
  another
• 0:07
  episode
• 0:08
  of
• 0:08
  the
• 0:08
  Kids
• 0:08
  Media
• 0:09
  Club
• 0:09
  podcast.
• 0:09
  I'm
• 0:10
  back
• 0:10
  this
• 0:10
  week.
• 0:11
  I
• 0:11
  missed
• 0:12
  the
• 0:12
  last
• 0:13
  week's
• 0:13
  episode.
• 0:14
  You're
• 0:14
  not
• 0:14
  in
• 0:15
  a
• 0:15
  plaster
• 0:15
  cast
• 0:17
  skiing
• 0:17
  completed.
• 0:18
  I
• 0:19
  managed
• 0:19
  to
• 0:19
  survive.
• 0:21
  Yeah.
• 0:21
  Just
• 0:21
  about
• 0:21
  kept
• 0:22
  up
• 0:22
  with
• 0:22
  my
• 0:22
  kids,
• 0:23
  although
• 0:23
  they
• 0:23
  may.
• 0:24
  They
• 0:24
  may
• 0:25
  disagree
• 0:25
  with
• 0:25
  that.
• 0:26
  But,
• 0:26
  yeah,
• 0:27
  back
• 0:27
  from
• 0:27
  the
• 0:27
  skiing
• 0:27
  holiday.
• 0:28
  Had
• 0:28
  a
• 0:28
  great
• 0:29
  time.
• 0:29
  Well,
• 0:29
  we,
• 0:30
  we
• 0:30
  did
• 0:30
  miss
• 0:31
  you,
• 0:31
  Emily
• 0:32
  and
• 0:32
  I
• 0:32
  do
• 0:32
  go
• 0:32
  into
• 0:33
  a
• 0:33
  slight
• 0:33
  panic
• 0:34
  when
• 0:34
  we
• 0:34
  have
• 0:34
  to
• 0:34
  try
• 0:34
  and
• 0:35
  drive
• 0:35
  the
• 0:36
  podcast
• 0:36
  studio
• 0:37
  ourselves.
• 0:37
  Then
• 0:38
  we
• 0:38
  fumbled
• 0:38
  our
• 0:38
  way
• 0:39
  through
• 0:39
  and
• 0:39
  we
• 0:39
  had
• 0:39
  a
• 0:39
  great.
• 0:40
  Yeah,
• 0:40
  it
• 0:40
  looked
• 0:40
  great.
• 0:41
  Yeah,
• 0:41
  we
• 0:41
  had
• 0:42
  a
• 0:42
  great
• 0:42
  chat
• 0:42
  with
• 0:43
  Sarah
• 0:44
  DeWitt
• 0:44
  of
• 0:44
  PBS
• 0:45
  Kids.
• 0:45
  I
• 0:45
  mean,
• 0:45
  she's
• 0:46
  such
• 0:46
  an
• 0:46
  engaging
• 0:47
  lady
• 0:47
  and
• 0:47
  it
• 0:48
  really
• 0:48
  threw
• 0:48
  into
• 0:48
  relief
• 0:48
  the
• 0:49
  challenges
• 0:49
  that
• 0:49
  they've
• 0:50
  got
• 0:50
  facing
• 0:50
  them.
• 0:50
  But
• 0:51
  my
• 0:51
  goodness,
• 0:51
  they're.
• 0:52
  They're
• 0:52
  facing
• 0:53
  them
• 0:53
  with
• 0:53
  positivity
• 0:54
  and
• 0:55
  seem
• 0:55
  undeterred.
• 0:56
  And
• 0:56
  you'd
• 0:56
  be
• 0:56
  forgiven
• 0:57
  for
• 0:58
  detecting
• 0:59
  a
• 0:59
  little
• 0:59
  bit
• 0:59
  of,
• 0:59
  you
• 0:59
  know,
• 1:00
  kind
• 1:00
  of
• 1:00
  a
• 1:00
  jaded
• 1:01
  response
• 1:01
  from
• 1:01
  her,
• 1:01
  but
• 1:01
  I
• 1:01
  was,
• 1:02
  I
• 1:02
  really
• 1:02
  thought
• 1:02
  she
• 1:03
  was
• 1:03
  outstanding.
• 1:03
  Didn't
• 1:03
  you,
• 1:04
  Emily?
• 1:04
  Yeah,
• 1:04
  yeah.
• 1:04
  That
• 1:05
  was
• 1:05
  super,
• 1:05
  super
• 1:06
  fun
• 1:06
  and.
• 1:06
  Yeah,
• 1:07
  very.
• 1:07
  Yeah.
• 1:07
  Positive,
• 1:08
  productive
• 1:08
  and
• 1:09
  everything
• 1:09
  like
• 1:09
  that.
• 1:09
  Because
• 1:10
  it's
• 1:10
  a
• 1:10
  tough
• 1:10
  landscape
• 1:11
  out
• 1:11
  there.
• 1:12
  So
• 1:13
  today
• 1:13
  we
• 1:13
  have
• 1:13
  a
• 1:14
  house
• 1:14
  chat.
• 1:15
  Got
• 1:15
  a
• 1:16
  couple
• 1:16
  of
• 1:16
  things
• 1:16
  to
• 1:16
  get
• 1:16
  through,
• 1:18
  a
• 1:18
  couple
• 1:18
  of.
• 1:18
  A
• 1:19
  couple
• 1:19
  of
• 1:19
  topics,
• 1:19
  I
• 1:20
  mean,
• 1:21
  to
• 1:21
  kick
• 1:21
  off,
• 1:21
  which
• 1:21
  is
• 1:22
  one
• 1:22
  of
• 1:22
  the.
• 1:22
  One
• 1:22
  of
• 1:22
  the
• 1:22
  challenges
• 1:23
  with
• 1:23
  public
• 1:23
  service
• 1:24
  as
• 1:24
  well
• 1:24
  is
• 1:24
  that
• 1:24
  YouTube
• 1:24
  is
• 1:25
  taking
• 1:25
  over
• 1:25
  the
• 1:25
  world.
• 1:25
  YouTube
• 1:26
  is
• 1:26
  TV.
• 1:26
  People
• 1:26
  find
• 1:27
  it
• 1:27
  triggering.
• 1:28
  Some
• 1:28
  people
• 1:28
  find
• 1:29
  it
• 1:29
  triggering
• 1:29
  when
• 1:29
  you
• 1:29
  say
• 1:29
  that.
• 1:30
  But,
• 1:30
  I
• 1:30
  mean,
• 1:31
  I've
• 1:31
  been.
• 1:31
  Don't
• 1:31
  say
• 1:31
  those
• 1:32
  words,
• 1:32
  Emily.
• 1:32
  I
• 1:33
  think
• 1:33
  I've
• 1:33
  been
• 1:33
  saying
• 1:33
  it
• 1:33
  for
• 1:33
  about
• 1:34
  two
• 1:34
  years
• 1:34
  because
• 1:35
  with
• 1:35
  kids
• 1:35
  it's
• 1:36
  always
• 1:36
  been
• 1:36
  so
• 1:36
  obvious.
• 1:37
  But
• 1:38
  there's
• 1:38
  loads
• 1:38
  of
• 1:38
  stuff
• 1:38
  happening
• 1:39
  with
• 1:39
  YouTube
• 1:40
  right
• 1:40
  now.
• 1:41
  There's
• 1:41
  a
• 1:42
  BBC
• 1:42
  YouTube
• 1:43
  announcement
• 1:43
  speaking
• 1:44
  of
• 1:44
  public
• 1:44
  service
• 1:44
  and,
• 1:45
  you
• 1:45
  know,
• 1:45
  finding
• 1:46
  that
• 1:46
  integration
• 1:46
  piece,
• 1:47
  which
• 1:47
  is
• 1:47
  great.
• 1:47
  7
• 1:49
  kids
• 1:49
  channels
• 1:49
  coming
• 1:50
  through
• 1:50
  there.
• 1:51
  Yeah.
• 1:53
  So
• 1:53
  that's.
• 1:54
  That's
• 1:54
  interesting.
• 1:55
  And
• 1:55
  then
• 1:55
  there
• 1:55
  was
• 1:56
  all
• 1:56
  this
• 1:57
  noise
• 1:57
  around
• 1:58
  YouTube
• 1:58
  TV.
• 1:59
  So
• 2:01
  Google's
• 2:01
  latest
• 2:02
  earnings.
• 2:03
  YouTube
• 2:04
  has
• 2:04
  had
• 2:04
  its
• 2:05
  biggest
• 2:05
  year
• 2:05
  for
• 2:06
  ad
• 2:06
  revenue
• 2:06
  ever,
• 2:07
  which
• 2:08
  was,
• 2:08
  I
• 2:08
  think
• 2:09
  around
• 2:09
  40
• 2:09
  million
• 2:10
  in
• 2:10
  revenue,
• 2:10
  or
• 2:11
  got
• 2:11
  to
• 2:11
  40
• 2:11
  million.
• 2:12
  Sorry,
• 2:12
  40
• 2:12
  billion.
• 2:14
  I
• 2:14
  beg
• 2:14
  your
• 2:15
  pardon.
• 2:15
  I
• 2:15
  beg
• 2:16
  your
• 2:16
  pardon.
• 2:17
  But
• 2:17
  for
• 2:17
  the
• 2:17
  first
• 2:17
  time,
• 2:18
  they
• 2:18
  announced
• 2:18
  the
• 2:18
  subs,
• 2:19
  the
• 2:19
  premium
• 2:20
  subscriber
• 2:20
  tier
• 2:21
  on
• 2:21
  YouTube
• 2:21
  TV,
• 2:22
  which
• 2:22
  brought
• 2:22
  the
• 2:23
  revenue
• 2:23
  for
• 2:24
  YouTube
• 2:24
  up
• 2:24
  to
• 2:24
  80
• 2:25
  or,
• 2:25
  sorry,
• 2:25
  up
• 2:25
  to
• 2:26
  60
• 2:26
  billion.
• 2:27
  And
• 2:27
  that's
• 2:28
  quite
• 2:28
  significant.
• 2:29
  Yeah.
• 2:30
  Crazy.
• 2:31
  They're
• 2:32
  the
• 2:32
  second
• 2:33
  biggest
• 2:33
  TV
• 2:34
  subscription
• 2:35
  service
• 2:35
  in
• 2:36
  the
• 2:36
  US
• 2:36
  now.
• 2:37
  Yeah.
• 2:37
  And
• 2:37
  they,
• 2:38
  they,
• 2:38
  they
• 2:38
  kind
• 2:38
  of
• 2:39
  got
• 2:39
  there
• 2:39
  very
• 2:39
  quietly.
• 2:41
  I
• 2:41
  think
• 2:41
  it
• 2:41
  caught
• 2:41
  everyone
• 2:42
  by
• 2:42
  surprise
• 2:42
  how
• 2:43
  big
• 2:43
  the
• 2:43
  subscription
• 2:44
  element
• 2:45
  of
• 2:45
  their
• 2:45
  offer
• 2:45
  was.
• 2:47
  And
• 2:47
  of
• 2:48
  course
• 2:48
  they've
• 2:48
  been
• 2:48
  tweaking
• 2:49
  their
• 2:49
  packages.
• 2:50
  Now,
• 2:50
  given
• 2:50
  that
• 2:52
  subscription
• 2:52
  fatigue
• 2:53
  is
• 2:53
  real
• 2:53
  and
• 2:55
  they've
• 2:55
  come
• 2:55
  out
• 2:56
  with,
• 2:56
  I
• 2:56
  know,
• 2:57
  some
• 2:57
  specific
• 2:57
  sports
• 2:58
  packages
• 2:58
  which
• 2:59
  I
• 2:59
  was
• 2:59
  looking
• 3:00
  at
• 3:00
  earlier
• 3:01
  last
• 3:02
  week.
• 3:02
  But
• 3:02
  Emily,
• 3:03
  you
• 3:03
  were
• 3:03
  just
• 3:03
  saying
• 3:03
  that
• 3:04
  they've
• 3:04
  got
• 3:04
  some
• 3:04
  very
• 3:04
  kid
• 3:05
  focused
• 3:05
  packages
• 3:06
  which
• 3:06
  had
• 3:07
  slipped
• 3:07
  kind
• 3:07
  of
• 3:07
  under
• 3:08
  my
• 3:08
  radar.
• 3:08
  So
• 3:09
  now
• 3:09
  they're
• 3:09
  beginning
• 3:10
  to
• 3:10
  tailor
• 3:10
  said
• 3:10
  packages
• 3:11
  so
• 3:11
  that
• 3:12
  it
• 3:12
  becomes
• 3:13
  much
• 3:13
  more
• 3:14
  kind
• 3:15
  of
• 3:15
  subscriber
• 3:16
  friendly
• 3:16
  for
• 3:16
  those
• 3:16
  people
• 3:17
  who
• 3:17
  have
• 3:17
  got
• 3:17
  multiple
• 3:18
  subscriptions
• 3:18
  on
• 3:18
  the
• 3:19
  go.
• 3:19
  Yeah.
• 3:19
  Sports
• 3:19
  season
• 3:20
  entertainment,
• 3:20
  I
• 3:20
  think
• 3:20
  is
• 3:21
  out
• 3:21
  of
• 3:21
  the
• 3:21
  offering.
• 3:23
  It
• 3:23
  sounds
• 3:23
  practically
• 3:24
  linear.
• 3:25
  And
• 3:25
  they
• 3:25
  had
• 3:25
  Nickelodeon,
• 3:27
  Nickelodeon,
• 3:28
  Disney
• 3:28
  Channel
• 3:28
  and
• 3:29
  PBS
• 3:29
  actually
• 3:29
  as
• 3:30
  part
• 3:30
  of
• 3:30
  that
• 3:30
  kids
• 3:31
  subscription
• 3:31
  package,
• 3:32
  which
• 3:32
  is,
• 3:32
  like
• 3:32
  I
• 3:33
  said,
• 3:33
  YouTube.
• 3:34
  YouTube
• 3:34
  is
• 3:35
  TV,
• 3:35
  but
• 3:35
  YouTube
• 3:36
  actually
• 3:36
  really
• 3:36
  wants
• 3:36
  to
• 3:37
  be
• 3:37
  TV,
• 3:38
  I
• 3:38
  think
• 3:39
  becoming.
• 3:39
  Increasingly
• 3:40
  clear,
• 3:40
  isn't
• 3:40
  it?
• 3:41
  I
• 3:41
  mean,
• 3:41
  the,
• 3:42
  the
• 3:42
  vernacular,
• 3:43
  the
• 3:43
  way
• 3:43
  they're
• 3:43
  reporting
• 3:43
  their
• 3:44
  earnings,
• 3:44
  the
• 3:44
  way
• 3:44
  that
• 3:45
  they're
• 3:45
  presenting
• 3:46
  themselves.
• 3:46
  Isn't
• 3:46
  it
• 3:47
  funny,
• 3:47
  I
• 3:47
  was
• 3:47
  having
• 3:47
  this
• 3:47
  conversation
• 3:48
  with
• 3:48
  somebody
• 3:48
  yesterday
• 3:49
  how
• 3:50
  once
• 3:51
  Netflix
• 3:51
  was
• 3:51
  the,
• 3:52
  the
• 3:52
  upstart,
• 3:53
  the
• 3:53
  pretender.
• 3:54
  And
• 3:54
  we've
• 3:54
  spoken
• 3:54
  about
• 3:54
  how
• 3:55
  Netflix
• 3:55
  is
• 3:55
  very
• 3:56
  much
• 3:56
  established
• 3:57
  media
• 3:57
  now
• 3:58
  and
• 3:59
  one
• 3:59
  wonders
• 3:59
  if
• 4:00
  YouTube
• 4:00
  is
• 4:00
  on
• 4:00
  that
• 4:00
  similar
• 4:01
  trajectory.
• 4:03
  You
• 4:03
  know,
• 4:03
  it's
• 4:03
  not.
• 4:04
  We
• 4:05
  know
• 4:05
  it's
• 4:05
  20
• 4:05
  years
• 4:05
  old
• 4:05
  now.
• 4:06
  The
• 4:06
  platform
• 4:06
  is
• 4:06
  maturing
• 4:07
  and
• 4:07
  as
• 4:07
  is
• 4:07
  the
• 4:08
  media
• 4:08
  landscape,
• 4:08
  but
• 4:09
  it's
• 4:09
  edging
• 4:10
  further
• 4:10
  and
• 4:10
  further
• 4:11
  towards
• 4:11
  that
• 4:12
  more
• 4:12
  traditional,
• 4:14
  traditional
• 4:14
  media
• 4:15
  model,
• 4:15
  isn't
• 4:15
  it?
• 4:15
  Yeah,
• 4:16
  maybe
• 4:16
  it
• 4:16
  needs
• 4:17
  the.
• 4:18
  But
• 4:19
  maybe
• 4:19
  in
• 4:19
  terms
• 4:19
  of
• 4:20
  that
• 4:20
  evolution
• 4:21
  into
• 4:21
  being
• 4:22
  tv,
• 4:22
  it
• 4:23
  needs
• 4:23
  the
• 4:23
  established
• 4:24
  TV
• 4:25
  partners
• 4:25
  in
• 4:25
  a
• 4:25
  way
• 4:26
  that
• 4:26
  it
• 4:26
  didn't
• 4:26
  previously.
• 4:28
  Yeah,
• 4:29
  I
• 4:29
  think
• 4:29
  that's.
• 4:30
  I
• 4:30
  mean,
• 4:31
  they
• 4:31
  need
• 4:32
  each
• 4:32
  other.
• 4:32
  Right?
• 4:32
  I
• 4:33
  mean,
• 4:33
  we've
• 4:33
  discussed
• 4:34
  this
• 4:34
  plenty
• 4:34
  of
• 4:34
  times
• 4:34
  how
• 4:35
  the
• 4:35
  BBC
• 4:36
  has
• 4:36
  struggled
• 4:37
  to
• 4:37
  reach
• 4:37
  and
• 4:37
  engage
• 4:38
  those
• 4:38
  younger
• 4:38
  digital
• 4:39
  native
• 4:39
  audiences,
• 4:40
  hence
• 4:40
  the
• 4:40
  partnership.
• 4:41
  And
• 4:41
  I'll
• 4:41
  be
• 4:41
  digging
• 4:42
  into
• 4:42
  that
• 4:42
  partnership
• 4:42
  when
• 4:42
  I'm
• 4:43
  talking
• 4:43
  to
• 4:43
  Both
• 4:43
  BBC
• 4:43
  and
• 4:44
  YouTube
• 4:44
  at
• 4:44
  the
• 4:44
  kids
• 4:44
  and
• 4:45
  Teens
• 4:45
  Summit
• 4:45
  at
• 4:46
  MIP
• 4:46
  London
• 4:46
  coming
• 4:47
  up.
• 4:47
  So
• 4:48
  it
• 4:48
  certainly
• 4:48
  is
• 4:49
  mutually
• 4:49
  beneficial.
• 4:49
  I
• 4:50
  think
• 4:51
  a
• 4:51
  lot
• 4:51
  of
• 4:51
  the
• 4:51
  rhetoric
• 4:52
  kind
• 4:52
  of
• 4:52
  in
• 4:52
  the,
• 4:53
  the
• 4:53
  industry,
• 4:54
  it
• 4:54
  kind
• 4:54
  of
• 4:55
  favors
• 4:55
  one
• 4:55
  over
• 4:55
  the
• 4:56
  other,
• 4:56
  who's
• 4:56
  getting
• 4:57
  the
• 4:57
  best
• 4:57
  deal
• 4:57
  here.
• 4:57
  But
• 4:57
  I
• 4:58
  do
• 4:58
  think
• 4:58
  actually
• 5:00
  it's
• 5:00
  useful
• 5:01
  for
• 5:01
  both
• 5:01
  sides
• 5:02
  because
• 5:02
  there's
• 5:03
  an
• 5:03
  air
• 5:03
  of
• 5:03
  validation.
• 5:04
  It
• 5:04
  lends
• 5:04
  validation
• 5:05
  to
• 5:05
  YouTube
• 5:05
  when
• 5:06
  they
• 5:06
  can
• 5:06
  say
• 5:06
  that
• 5:06
  they've
• 5:06
  got
• 5:07
  the
• 5:08
  BBC,
• 5:09
  arguably
• 5:09
  the
• 5:09
  foremost
• 5:10
  public
• 5:10
  service
• 5:11
  broadcaster
• 5:11
  on
• 5:11
  the
• 5:12
  planet,
• 5:13
  as
• 5:13
  now
• 5:14
  as
• 5:14
  an
• 5:15
  official
• 5:15
  partner.
• 5:16
  So,
• 5:16
  I
• 5:16
  mean,
• 5:17
  that's
• 5:18
  a
• 5:18
  big
• 5:18
  scoop,
• 5:19
  I
• 5:19
  would
• 5:19
  say,
• 5:19
  for
• 5:19
  YouTube,
• 5:20
  actually.
• 5:21
  Yeah.
• 5:21
  I
• 5:21
  mean,
• 5:21
  I
• 5:21
  think
• 5:21
  from
• 5:22
  a
• 5:22
  perception
• 5:22
  point
• 5:22
  of
• 5:23
  view,
• 5:23
  particularly
• 5:24
  in
• 5:24
  this
• 5:24
  era
• 5:25
  where
• 5:25
  it
• 5:25
  feels
• 5:25
  like
• 5:25
  social
• 5:26
  media
• 5:26
  is
• 5:26
  in
• 5:26
  the
• 5:26
  regulatory
• 5:27
  crosshairs
• 5:28
  a
• 5:28
  bit.
• 5:29
  Indeed.
• 5:29
  I
• 5:29
  think
• 5:29
  having
• 5:30
  a
• 5:30
  partner
• 5:30
  like
• 5:31
  the
• 5:31
  BBC
• 5:32
  endorses
• 5:32
  you
• 5:33
  and
• 5:33
  gives
• 5:33
  you
• 5:34
  a
• 5:34
  prestige
• 5:34
  which
• 5:34
  maybe
• 5:35
  provides
• 5:35
  a
• 5:36
  slight
• 5:37
  force
• 5:38
  field
• 5:38
  against
• 5:40
  some
• 5:40
  of
• 5:40
  those
• 5:40
  kind
• 5:41
  of
• 5:41
  regulatory
• 5:42
  shots.
• 5:43
  Yeah.
• 5:44
  Then
• 5:44
  what
• 5:44
  does
• 5:44
  the
• 5:44
  BBC
• 5:45
  get
• 5:45
  out
• 5:45
  of
• 5:45
  it?
• 5:45
  Because
• 5:45
  I
• 5:45
  guess
• 5:46
  it
• 5:46
  kind
• 5:46
  of
• 5:46
  goes
• 5:46
  both
• 5:47
  ways.
• 5:47
  It's
• 5:47
  like,
• 5:48
  you
• 5:49
  know,
• 5:50
  Barb
• 5:50
  has,
• 5:50
  you
• 5:50
  know,
• 5:51
  the
• 5:51
  results
• 5:51
  from
• 5:51
  Barb
• 5:51
  for
• 5:52
  the
• 5:52
  past
• 5:52
  few
• 5:52
  years
• 5:52
  have
• 5:52
  shown
• 5:53
  how
• 5:53
  relevant
• 5:54
  YouTube
• 5:54
  is,
• 5:54
  particularly
• 5:55
  for
• 5:55
  younger
• 5:55
  audiences.
• 5:56
  Again,
• 5:56
  no
• 5:56
  news
• 5:57
  to
• 5:57
  us,
• 5:58
  but,
• 5:59
  you
• 5:59
  know,
• 6:00
  the
• 6:00
  BBC,
• 6:00
  I
• 6:00
  guess,
• 6:00
  is
• 6:00
  being
• 6:01
  seen
• 6:01
  to
• 6:01
  really
• 6:03
  move
• 6:03
  into
• 6:04
  that
• 6:04
  space
• 6:04
  and
• 6:04
  be
• 6:05
  taking
• 6:05
  that
• 6:05
  seriously
• 6:05
  as
• 6:05
  opposed
• 6:06
  to
• 6:06
  trying
• 6:06
  to
• 6:07
  finger
• 6:07
  in
• 6:07
  the
• 6:07
  ears,
• 6:08
  la
• 6:08
  la
• 6:08
  la,
• 6:08
  until
• 6:09
  it
• 6:10
  doesn't
• 6:10
  happen,
• 6:11
  you
• 6:12
  know,
• 6:12
  so
• 6:12
  it's
• 6:13
  that
• 6:13
  kind
• 6:13
  of
• 6:13
  mutual,
• 6:14
  Mutual
• 6:14
  credibility
• 6:15
  lending,
• 6:15
  perhaps.
• 6:16
  Yep.
• 6:17
  Maybe
• 6:17
  it
• 6:17
  gives
• 6:18
  the
• 6:18
  BBC
• 6:18
  reach,
• 6:19
  more
• 6:20
  of
• 6:20
  a
• 6:20
  global
• 6:20
  reach
• 6:20
  if
• 6:21
  they're
• 6:21
  looking
• 6:21
  to,
• 6:22
  to
• 6:23
  really
• 6:23
  kind
• 6:24
  of
• 6:24
  leverage
• 6:24
  the
• 6:24
  BBC
• 6:25
  as
• 6:25
  a
• 6:25
  global
• 6:25
  brand.
• 6:27
  Yeah,
• 6:27
  definitely,
• 6:28
  yeah.
• 6:28
  I
• 6:28
  mean,
• 6:29
  yeah,
• 6:29
  absolutely.
• 6:30
  I
• 6:30
  mean,
• 6:30
  with
• 6:30
  each
• 6:30
  passing
• 6:31
  year,
• 6:31
  those,
• 6:32
  those
• 6:32
  three
• 6:32
  letters
• 6:33
  that
• 6:33
  have
• 6:34
  meant
• 6:34
  something
• 6:34
  for
• 6:35
  a
• 6:35
  hundred
• 6:35
  years
• 6:36
  or
• 6:36
  more
• 6:36
  in
• 6:36
  the
• 6:36
  global
• 6:36
  media
• 6:37
  landscape,
• 6:37
  they,
• 6:38
  they
• 6:38
  mean
• 6:38
  less
• 6:39
  and
• 6:39
  less,
• 6:39
  particularly
• 6:39
  to
• 6:39
  those
• 6:40
  younger
• 6:40
  generations.
• 6:41
  And
• 6:41
  if
• 6:41
  they're
• 6:42
  going
• 6:42
  to
• 6:42
  try
• 6:42
  and
• 6:42
  maintain
• 6:43
  that
• 6:44
  as
• 6:44
  they
• 6:44
  come
• 6:44
  through
• 6:44
  charter
• 6:45
  renewal
• 6:45
  and
• 6:46
  dare
• 6:46
  I
• 6:46
  say,
• 6:47
  either
• 6:47
  next
• 6:47
  100
• 6:48
  years,
• 6:48
  then
• 6:49
  they've
• 6:49
  got
• 6:49
  to
• 6:50
  do
• 6:50
  something
• 6:50
  about
• 6:50
  how
• 6:50
  they
• 6:51
  reach
• 6:51
  and
• 6:51
  engage
• 6:51
  or
• 6:52
  not.
• 6:52
  And
• 6:52
  resonate.
• 6:53
  I
• 6:53
  always
• 6:53
  come
• 6:53
  back
• 6:54
  to
• 6:54
  the
• 6:54
  word
• 6:54
  resonate
• 6:55
  because,
• 6:55
  you
• 6:55
  know,
• 6:55
  we
• 6:56
  talk
• 6:56
  about
• 6:56
  reach
• 6:56
  and
• 6:56
  relevance,
• 6:57
  but
• 6:57
  actually
• 6:57
  resonate
• 6:58
  really
• 6:58
  does
• 6:59
  imply
• 6:59
  it's
• 7:00
  meaning
• 7:00
  something.
• 7:00
  You're
• 7:01
  hearing
• 7:01
  it
• 7:01
  multiple
• 7:02
  times.
• 7:02
  And
• 7:02
  I
• 7:02
  think
• 7:03
  that's,
• 7:03
  that's
• 7:04
  the
• 7:04
  thing.
• 7:04
  The
• 7:04
  BBC
• 7:04
  doesn't
• 7:05
  necessarily
• 7:05
  resonate
• 7:06
  so
• 7:06
  much
• 7:07
  with
• 7:07
  that
• 7:07
  young
• 7:07
  generation.
• 7:08
  So
• 7:09
  that's,
• 7:09
  I
• 7:09
  mean,
• 7:09
  that's,
• 7:10
  that's
• 7:10
  interesting.
• 7:10
  And
• 7:11
  one
• 7:11
  other
• 7:11
  thing
• 7:11
  that
• 7:12
  I'm
• 7:12
  certainly
• 7:13
  going
• 7:13
  to
• 7:13
  dive
• 7:13
  into
• 7:13
  and
• 7:14
  I'm
• 7:14
  chatting
• 7:15
  to
• 7:15
  both
• 7:15
  the
• 7:15
  BBC
• 7:15
  and
• 7:16
  YouTube
• 7:16
  is,
• 7:16
  I
• 7:17
  think
• 7:17
  there's
• 7:17
  also
• 7:17
  a
• 7:18
  stated
• 7:18
  acknowledgment
• 7:19
  by
• 7:19
  the
• 7:19
  BBC
• 7:20
  that
• 7:20
  their
• 7:20
  internal
• 7:21
  competencies
• 7:21
  are
• 7:22
  not
• 7:22
  compatible
• 7:22
  with
• 7:22
  YouTube.
• 7:23
  And
• 7:23
  we've
• 7:24
  spoken.
• 7:24
  They've.
• 7:24
  They
• 7:25
  launched
• 7:25
  this
• 7:26
  creator
• 7:26
  lab.
• 7:26
  They
• 7:27
  did
• 7:27
  a,
• 7:27
  a
• 7:27
  sports
• 7:28
  creator
• 7:29
  initiative
• 7:30
  last
• 7:30
  year
• 7:30
  called
• 7:30
  Last
• 7:31
  Pundit
• 7:31
  Standing.
• 7:32
  They're
• 7:33
  doing
• 7:33
  it
• 7:33
  again
• 7:33
  this
• 7:34
  year.
• 7:34
  It's
• 7:34
  more.
• 7:34
  Got
• 7:35
  more
• 7:35
  of
• 7:35
  a,
• 7:35
  a
• 7:36
  nature
• 7:36
  kind
• 7:36
  of
• 7:37
  hut.
• 7:37
  Cultural
• 7:37
  bent.
• 7:38
  I
• 7:38
  think
• 7:38
  it's.
• 7:40
  But
• 7:41
  that
• 7:42
  in
• 7:42
  a
• 7:42
  way
• 7:42
  is
• 7:43
  a
• 7:43
  nice
• 7:43
  thing
• 7:44
  that
• 7:44
  they
• 7:44
  can
• 7:44
  do
• 7:44
  together
• 7:45
  in
• 7:45
  the
• 7:45
  sense
• 7:45
  that
• 7:46
  YouTube
• 7:47
  can
• 7:47
  help
• 7:47
  the
• 7:47
  BBC
• 7:48
  upskill
• 7:49
  in
• 7:49
  that
• 7:49
  way
• 7:50
  because
• 7:50
  there
• 7:50
  is
• 7:50
  a
• 7:51
  bit
• 7:51
  of
• 7:51
  a
• 7:52
  skills
• 7:52
  gap
• 7:53
  at,
• 7:54
  at
• 7:54
  the
• 7:54
  BBC,
• 7:55
  so.
• 7:55
  And
• 7:55
  they're
• 7:55
  doing
• 7:55
  this
• 7:56
  thing
• 7:56
  with
• 7:56
  the
• 7:56
  National
• 7:56
  Film
• 7:57
  and
• 7:57
  Television
• 7:57
  School
• 7:57
  as
• 7:58
  well,
• 7:58
  so
• 7:58
  there's,
• 8:00
  there's
• 8:00
  kind
• 8:01
  of
• 8:01
  extraneous
• 8:02
  benefits
• 8:03
  to
• 8:03
  the
• 8:03
  relationship
• 8:03
  as
• 8:03
  well.
• 8:04
  That
• 8:04
  we
• 8:04
  should
• 8:04
  perhaps
• 8:04
  acknowledge
• 8:05
  and
• 8:06
  it.
• 8:06
  Feels
• 8:06
  like
• 8:07
  that
• 8:07
  creator
• 8:07
  lab
• 8:08
  also
• 8:10
  future
• 8:10
  proofs
• 8:10
  the
• 8:11
  BBC
• 8:11
  in
• 8:11
  some
• 8:12
  respects
• 8:12
  because.
• 8:13
  Exactly.
• 8:13
  With
• 8:14
  the
• 8:14
  announcement
• 8:14
  of
• 8:14
  the
• 8:14
  BBC
• 8:15
  YouTube
• 8:15
  channels
• 8:16
  I
• 8:16
  know
• 8:16
  there
• 8:16
  was.
• 8:17
  There's
• 8:17
  a
• 8:17
  lot
• 8:17
  of
• 8:18
  discussion
• 8:19
  about
• 8:19
  that
• 8:19
  having
• 8:20
  original
• 8:20
  YouTube
• 8:21
  content
• 8:22
  that's
• 8:23
  going
• 8:23
  to
• 8:23
  be
• 8:23
  specific
• 8:23
  to
• 8:24
  that
• 8:24
  platform.
• 8:24
  So
• 8:25
  it
• 8:26
  helps
• 8:26
  to
• 8:26
  kind
• 8:26
  of
• 8:26
  have
• 8:27
  a.
• 8:27
  A
• 8:27
  team
• 8:28
  of
• 8:28
  creators
• 8:29
  associated
• 8:30
  with
• 8:30
  the
• 8:30
  BBC
• 8:30
  that
• 8:31
  are
• 8:31
  trained
• 8:31
  to
• 8:31
  really
• 8:32
  produce
• 8:32
  content
• 8:33
  that
• 8:33
  fits
• 8:34
  on
• 8:34
  those
• 8:34
  platforms.
• 8:35
  Yeah,
• 8:36
  it
• 8:37
  was
• 8:37
  interesting
• 8:37
  to
• 8:37
  look
• 8:37
  at
• 8:38
  the
• 8:39
  kind
• 8:39
  of
• 8:39
  suite
• 8:40
  of
• 8:40
  channels
• 8:40
  that
• 8:40
  they
• 8:41
  announced.
• 8:42
  So
• 8:43
  there's
• 8:43
  one
• 8:43
  called
• 8:43
  Epic
• 8:44
  Facts.
• 8:44
  I
• 8:44
  mean
• 8:44
  this
• 8:45
  be
• 8:45
  interesting
• 8:46
  to
• 8:46
  understand
• 8:47
  what
• 8:48
  the
• 8:48
  creative
• 8:48
  process
• 8:49
  around
• 8:49
  that
• 8:49
  kind
• 8:49
  of
• 8:50
  aggregation
• 8:50
  was
• 8:50
  because
• 8:51
  they're
• 8:51
  not
• 8:51
  just
• 8:51
  lifting
• 8:51
  and
• 8:51
  shifting
• 8:52
  CBDC
• 8:52
  and
• 8:52
  putting
• 8:53
  on
• 8:53
  there.
• 8:53
  Although
• 8:54
  there
• 8:54
  is
• 8:54
  a
• 8:54
  CBBC
• 8:54
  can
• 8:55
  of
• 8:55
  themed
• 8:55
  one
• 8:55
  but
• 8:56
  non
• 8:56
  stop
• 8:56
  cartoons,
• 8:57
  for
• 8:57
  example
• 8:57
  Newsround.
• 8:58
  I
• 8:58
  mean
• 8:58
  we
• 8:58
  know
• 8:59
  how
• 8:59
  popular
• 9:00
  and
• 9:00
  how
• 9:00
  Newsround
• 9:00
  is
• 9:01
  still
• 9:01
  used
• 9:01
  in
• 9:01
  schools,
• 9:02
  you
• 9:02
  know
• 9:02
  but
• 9:02
  it's
• 9:03
  getting
• 9:03
  its
• 9:04
  own
• 9:04
  channel
• 9:04
  and
• 9:05
  BBC
• 9:05
  bite
• 9:05
  size
• 9:06
  of
• 9:06
  course.
• 9:06
  I
• 9:06
  mean
• 9:06
  that's
• 9:07
  always
• 9:07
  been
• 9:08
  such
• 9:08
  a
• 9:08
  great
• 9:09
  resource
• 9:09
  but
• 9:10
  for
• 9:10
  a
• 9:10
  long
• 9:10
  time
• 9:10
  was
• 9:11
  basically
• 9:11
  hosted
• 9:11
  on
• 9:12
  the
• 9:12
  website.
• 9:12
  And
• 9:12
  actually
• 9:13
  the
• 9:13
  fact
• 9:13
  that
• 9:13
  it's
• 9:13
  now
• 9:14
  leaning
• 9:14
  into
• 9:14
  YouTube
• 9:15
  as
• 9:15
  its
• 9:16
  primary
• 9:17
  distribution
• 9:17
  I
• 9:17
  think
• 9:17
  is.
• 9:18
  Is
• 9:18
  only
• 9:18
  a
• 9:18
  good
• 9:19
  thing.
• 9:19
  And
• 9:20
  potentially
• 9:20
  a
• 9:20
  CBB
• 9:21
  parenting
• 9:21
  channel
• 9:22
  I
• 9:22
  hear
• 9:22
  coming
• 9:23
  later
• 9:23
  in
• 9:23
  the
• 9:23
  year
• 9:23
  which
• 9:24
  CBB's
• 9:25
  parents
• 9:25
  has
• 9:25
  always
• 9:25
  been
• 9:26
  quite
• 9:26
  a
• 9:26
  strong,
• 9:27
  a
• 9:27
  strong
• 9:27
  thing
• 9:28
  that
• 9:28
  they've
• 9:28
  done
• 9:28
  mainly
• 9:29
  through
• 9:29
  socials
• 9:29
  and
• 9:30
  some
• 9:30
  in.
• 9:30
  In
• 9:30
  some
• 9:31
  cases
• 9:31
  absolutely
• 9:32
  brilliantly
• 9:32
  hilarious
• 9:33
  and
• 9:34
  a
• 9:34
  great,
• 9:34
  a
• 9:34
  great
• 9:35
  way
• 9:35
  for.
• 9:35
  For
• 9:36
  parents
• 9:36
  to
• 9:36
  engage
• 9:36
  and
• 9:37
  have
• 9:37
  that.
• 9:37
  What
• 9:38
  we
• 9:38
  talk
• 9:38
  about
• 9:38
  a
• 9:38
  lot
• 9:38
  that
• 9:39
  participatory
• 9:39
  relationship
• 9:40
  with
• 9:40
  the.
• 9:40
  A
• 9:41
  preschool
• 9:41
  channel.
• 9:42
  So
• 9:42
  that
• 9:42
  should
• 9:42
  help
• 9:42
  that
• 9:43
  too.
• 9:43
  Yeah.
• 9:43
  I
• 9:44
  think
• 9:44
  CBB's
• 9:44
  is
• 9:44
  probably
• 9:45
  one
• 9:45
  of
• 9:45
  the
• 9:45
  most
• 9:45
  like
• 9:46
  from
• 9:46
  an
• 9:46
  international
• 9:47
  perspective
• 9:47
  has
• 9:48
  so
• 9:48
  much
• 9:48
  potential,
• 9:49
  potential
• 9:49
  to
• 9:49
  equal
• 9:50
  women
• 9:51
  and,
• 9:52
  and
• 9:52
  a
• 9:52
  beloved
• 9:52
  brand.
• 9:52
  It's,
• 9:53
  it's.
• 9:53
  Yeah
• 9:53
  there's,
• 9:54
  there's
• 9:54
  lots
• 9:55
  it
• 9:55
  could
• 9:55
  go
• 9:55
  there.
• 9:56
  What
• 9:56
  are
• 9:56
  we
• 9:57
  all
• 9:57
  going
• 9:57
  to
• 9:57
  do
• 9:57
  when
• 9:57
  the
• 9:57
  social
• 9:57
  media
• 9:58
  band
• 9:58
  comes
• 9:58
  in
• 9:58
  though
• 9:58
  and
• 9:58
  then
• 9:59
  none
• 9:59
  of
• 9:59
  the
• 9:59
  kids
• 9:59
  are
• 9:59
  allowed
• 9:59
  on
• 10:00
  YouTube.
• 10:02
  Oh
• 10:02
  goodness.
• 10:04
  I'll
• 10:04
  be
• 10:04
  a
• 10:04
  bit
• 10:04
  awkward.
• 10:06
  Well
• 10:07
  it
• 10:07
  will
• 10:07
  be,
• 10:07
  won't
• 10:08
  it?
• 10:08
  Goodness.
• 10:08
  At
• 10:08
  that
• 10:09
  point
• 10:09
  children
• 10:09
  will
• 10:09
  be
• 10:10
  seen
• 10:10
  and
• 10:10
  not
• 10:10
  heard.
• 10:11
  Oh
• 10:11
  God.
• 10:12
  Well
• 10:13
  I,
• 10:13
  I
• 10:14
  should
• 10:14
  counter.
• 10:14
  Sorry.
• 10:15
  It's
• 10:15
  an
• 10:15
  age.
• 10:16
  It's
• 10:16
  an
• 10:16
  age
• 10:16
  restriction.
• 10:17
  It's
• 10:17
  an
• 10:17
  age
• 10:17
  restriction.
• 10:20
  And
• 10:20
  we
• 10:20
  are
• 10:21
  Gary.
• 10:21
  Commenting.
• 10:22
  Yeah
• 10:23
  we
• 10:23
  are
• 10:24
  recording
• 10:24
  this
• 10:24
  on
• 10:25
  February
• 10:25
  10th
• 10:25
  which
• 10:26
  is
• 10:26
  safer
• 10:26
  Internet
• 10:27
  Day.
• 10:27
  So
• 10:27
  it
• 10:27
  is
• 10:29
  relevant
• 10:29
  and
• 10:29
  relevant
• 10:30
  for
• 10:30
  a
• 10:30
  number
• 10:30
  of
• 10:30
  reasons,
• 10:31
  not
• 10:31
  least
• 10:31
  because
• 10:31
  it's
• 10:32
  Safer
• 10:32
  Internet
• 10:32
  Day.
• 10:32
  But
• 10:33
  what
• 10:34
  popped
• 10:34
  up
• 10:34
  on
• 10:34
  my
• 10:34
  newsfeed
• 10:35
  earlier
• 10:36
  that
• 10:36
  obviously
• 10:36
  we
• 10:37
  know
• 10:37
  Australia
• 10:38
  has
• 10:38
  been
• 10:39
  first
• 10:39
  mover
• 10:40
  in
• 10:40
  Age
• 10:41
  restrictions
• 10:42
  on
• 10:42
  social
• 10:43
  media
• 10:43
  for
• 10:44
  under
• 10:44
  16s
• 10:45
  and
• 10:45
  just
• 10:45
  today
• 10:46
  they
• 10:46
  announced
• 10:47
  that
• 10:47
  they
• 10:47
  had
• 10:48
  requested
• 10:48
  an
• 10:48
  urgent
• 10:49
  meeting
• 10:50
  with
• 10:50
  Roblox
• 10:51
  over
• 10:51
  child
• 10:51
  safety.
• 10:52
  Roblox
• 10:52
  not
• 10:52
  originally
• 10:53
  included
• 10:54
  in
• 10:54
  their
• 10:55
  social
• 10:55
  media
• 10:56
  age
• 10:57
  bans,
• 10:58
  but
• 10:58
  now
• 10:59
  they've
• 10:59
  requested
• 10:59
  an
• 10:59
  urgement
• 11:00
  meeting
• 11:00
  with
• 11:00
  Roblox
• 11:01
  which
• 11:01
  I
• 11:01
  think
• 11:01
  will
• 11:02
  then
• 11:02
  push
• 11:03
  Roblox
• 11:03
  into
• 11:04
  that
• 11:04
  cohort
• 11:04
  of
• 11:05
  platforms
• 11:05
  that
• 11:06
  are
• 11:06
  now
• 11:06
  being
• 11:06
  considered
• 11:07
  by
• 11:07
  the
• 11:07
  likes
• 11:07
  of
• 11:07
  the
• 11:07
  French
• 11:08
  government
• 11:08
  and
• 11:09
  even
• 11:09
  our
• 11:09
  own
• 11:10
  government.
• 11:11
  What
• 11:11
  does
• 11:11
  this
• 11:12
  mean?
• 11:12
  Well,
• 11:12
  we
• 11:12
  were
• 11:12
  chatting
• 11:12
  before
• 11:13
  we
• 11:13
  were
• 11:13
  recording
• 11:13
  actually
• 11:14
  about
• 11:14
  how
• 11:16
  Roblox
• 11:16
  in
• 11:17
  particular
• 11:17
  has
• 11:17
  rolled
• 11:17
  out
• 11:18
  a
• 11:18
  lot
• 11:18
  of
• 11:18
  safety
• 11:19
  and
• 11:19
  verification
• 11:20
  features
• 11:20
  of
• 11:21
  late
• 11:21
  and
• 11:21
  they
• 11:22
  do
• 11:22
  come
• 11:22
  in
• 11:22
  for
• 11:22
  an
• 11:23
  inordinate
• 11:23
  amount
• 11:23
  of
• 11:24
  criticism.
• 11:24
  But
• 11:25
  they
• 11:25
  are
• 11:25
  rolling
• 11:26
  this
• 11:26
  stuff
• 11:26
  out
• 11:26
  and
• 11:26
  they're
• 11:27
  actually
• 11:27
  doing
• 11:27
  it
• 11:27
  at
• 11:28
  speed.
• 11:28
  And
• 11:28
  sometimes
• 11:29
  that
• 11:29
  means
• 11:29
  it
• 11:29
  rolls
• 11:30
  out
• 11:30
  and
• 11:30
  it
• 11:30
  breaks.
• 11:31
  Things
• 11:31
  on
• 11:31
  Roblox
• 11:32
  and
• 11:32
  the
• 11:32
  developer
• 11:32
  base
• 11:33
  go
• 11:33
  crazy.
• 11:33
  But
• 11:34
  actually
• 11:35
  age
• 11:35
  verification,
• 11:36
  chat
• 11:37
  restrictions
• 11:37
  that
• 11:37
  they've
• 11:38
  rolled
• 11:38
  out
• 11:38
  recently,
• 11:39
  now
• 11:40
  we
• 11:40
  see
• 11:40
  discord
• 11:41
  today
• 11:41
  that
• 11:42
  they're
• 11:42
  rolling
• 11:43
  out
• 11:43
  or
• 11:43
  they're
• 11:44
  fast
• 11:44
  tracking
• 11:44
  age
• 11:45
  verification.
• 11:46
  So
• 11:46
  all
• 11:46
  of
• 11:46
  these
• 11:46
  platforms
• 11:47
  where
• 11:47
  we
• 11:47
  know
• 11:47
  kids
• 11:48
  hang
• 11:48
  out,
• 11:48
  let's
• 11:48
  face
• 11:49
  it,
• 11:49
  actually
• 11:50
  are
• 11:50
  trying
• 11:50
  to
• 11:50
  get
• 11:50
  out
• 11:51
  in
• 11:51
  front
• 11:51
  of
• 11:51
  this
• 11:51
  thing.
• 11:52
  So
• 11:52
  maybe
• 11:52
  the
• 11:52
  regulatory
• 11:53
  pressure
• 11:54
  will
• 11:54
  result
• 11:55
  in
• 11:55
  some
• 11:55
  really
• 11:55
  good
• 11:56
  kind
• 11:56
  of
• 11:58
  speeded
• 11:58
  up
• 11:58
  tech
• 11:59
  rollouts
• 11:59
  that
• 11:59
  will
• 12:00
  help.
• 12:00
  Will
• 12:01
  it?
• 12:01
  Will
• 12:01
  it
• 12:01
  take
• 12:01
  them
• 12:02
  out
• 12:02
  of
• 12:02
  those
• 12:02
  crosshairs
• 12:03
  that
• 12:03
  you
• 12:03
  mentioned,
• 12:03
  Andy?
• 12:04
  I'm
• 12:04
  not
• 12:04
  so
• 12:04
  sure.
• 12:05
  But
• 12:05
  at
• 12:06
  least
• 12:06
  I
• 12:06
  wonder
• 12:06
  whether
• 12:07
  it
• 12:07
  might
• 12:07
  also
• 12:07
  encourage.
• 12:09
  They're
• 12:09
  owning
• 12:09
  being
• 12:09
  in
• 12:09
  the
• 12:10
  crosshairs,
• 12:10
  right?
• 12:10
  Like
• 12:11
  they're
• 12:11
  not
• 12:11
  going
• 12:12
  la
• 12:12
  la
• 12:13
  la
• 12:13
  here,
• 12:13
  right?
• 12:14
  They're
• 12:14
  going,
• 12:15
  I
• 12:15
  can
• 12:15
  see
• 12:16
  your
• 12:16
  crosshairs.
• 12:16
  This
• 12:16
  is
• 12:17
  really
• 12:17
  corporately
• 12:17
  uncomfortable.
• 12:18
  But
• 12:19
  I'm
• 12:20
  not
• 12:20
  going
• 12:20
  to
• 12:20
  duck,
• 12:21
  I'm
• 12:22
  just
• 12:22
  going
• 12:22
  to
• 12:22
  fix
• 12:23
  it.
• 12:24
  I
• 12:24
  wonder
• 12:25
  whether
• 12:25
  it
• 12:25
  might
• 12:25
  also
• 12:25
  encourage.
• 12:27
  We
• 12:27
  talked
• 12:28
  about
• 12:28
  subscription
• 12:28
  fatigue,
• 12:29
  but
• 12:30
  I
• 12:30
  wonder
• 12:31
  whether
• 12:31
  it
• 12:31
  might
• 12:31
  also
• 12:31
  encourage
• 12:32
  more
• 12:32
  of
• 12:32
  a
• 12:32
  subscription
• 12:33
  model
• 12:33
  as
• 12:33
  well.
• 12:34
  Just
• 12:34
  because
• 12:35
  in
• 12:35
  some
• 12:35
  ways
• 12:36
  that
• 12:37
  verification
• 12:38
  becomes
• 12:39
  sort
• 12:39
  of
• 12:39
  easier
• 12:41
  within
• 12:41
  a
• 12:41
  subscription
• 12:42
  model
• 12:42
  than
• 12:43
  an
• 12:43
  ad
• 12:43
  funded
• 12:43
  one.
• 12:44
  Yeah,
• 12:44
  that
• 12:45
  sign
• 12:45
  of,
• 12:45
  that
• 12:45
  sign
• 12:46
  of
• 12:46
  thing,
• 12:47
  this,
• 12:48
  Joe,
• 12:48
  this
• 12:48
  had
• 12:48
  me
• 12:49
  thinking
• 12:49
  about,
• 12:49
  which
• 12:49
  I
• 12:49
  saw
• 12:50
  a
• 12:50
  wonderfully
• 12:51
  nostalgic
• 12:51
  TikTok
• 12:52
  on
• 12:52
  recently.
• 12:52
  Is
• 12:52
  Club
• 12:53
  Penguin.
• 12:54
  Amazing.
• 12:55
  So
• 12:56
  was
• 12:56
  Club
• 12:56
  Penguin
• 12:56
  the
• 12:56
  safest
• 12:57
  place
• 12:57
  on
• 12:57
  the
• 12:57
  Internet
• 12:58
  for
• 12:58
  kids
• 12:58
  that's
• 12:58
  ever
• 12:58
  existed?
• 12:59
  Potentially.
• 13:00
  It
• 13:00
  was
• 13:00
  a
• 13:00
  very
• 13:01
  beloved,
• 13:01
  chaotic
• 13:02
  little
• 13:02
  world
• 13:04
  that
• 13:04
  was
• 13:04
  really
• 13:04
  thriving
• 13:04
  for
• 13:05
  a
• 13:05
  number
• 13:05
  of
• 13:05
  years.
• 13:06
  Oh
• 13:06
  my
• 13:07
  goodness.
• 13:07
  It
• 13:07
  was
• 13:07
  so
• 13:07
  awesome.
• 13:08
  I
• 13:08
  just
• 13:08
  kind
• 13:08
  of.
• 13:09
  And
• 13:09
  it
• 13:09
  had
• 13:09
  me,
• 13:09
  it
• 13:09
  had
• 13:10
  me
• 13:10
  thinking
• 13:10
  about
• 13:10
  a
• 13:10
  few
• 13:10
  things.
• 13:10
  It
• 13:10
  had
• 13:10
  me
• 13:11
  thinking
• 13:11
  about.
• 13:12
  So
• 13:12
  the
• 13:13
  Disney
• 13:14
  new
• 13:15
  CEO
• 13:15
  Josh
• 13:15
  tomorrow
• 13:17
  and
• 13:17
  he's
• 13:18
  come
• 13:18
  under
• 13:19
  the
• 13:19
  observation
• 13:21
  on
• 13:21
  Josh,
• 13:22
  I'm
• 13:22
  obviously
• 13:23
  on
• 13:23
  a
• 13:23
  first
• 13:23
  name
• 13:24
  basis
• 13:24
  with
• 13:24
  him.
• 13:27
  Is
• 13:27
  this
• 13:27
  question
• 13:28
  of
• 13:28
  whether
• 13:28
  he
• 13:28
  can
• 13:28
  come
• 13:28
  up
• 13:29
  with
• 13:29
  original
• 13:29
  IP
• 13:31
  and
• 13:31
  you
• 13:31
  know,
• 13:33
  part
• 13:33
  of
• 13:33
  a
• 13:33
  bigger
• 13:33
  question
• 13:33
  as
• 13:34
  to
• 13:34
  whether
• 13:34
  Disney
• 13:34
  can
• 13:35
  come
• 13:35
  up
• 13:35
  with
• 13:35
  original
• 13:35
  ip.
• 13:36
  I
• 13:36
  think,
• 13:37
  you
• 13:37
  know,
• 13:38
  definitely
• 13:40
  the
• 13:40
  Iger
• 13:40
  era
• 13:41
  was
• 13:41
  defined
• 13:42
  by
• 13:42
  cherry
• 13:43
  picking
• 13:43
  some
• 13:44
  amazing
• 13:44
  ip.
• 13:45
  Marvel,
• 13:46
  Star
• 13:47
  Wars,
• 13:47
  Pixar
• 13:47
  being
• 13:48
  the
• 13:48
  three
• 13:48
  holy
• 13:49
  trinity
• 13:49
  jewels
• 13:49
  and
• 13:50
  the
• 13:50
  crown
• 13:50
  Fox
• 13:51
  comes
• 13:52
  under
• 13:52
  a
• 13:52
  lot
• 13:52
  more
• 13:54
  criticism
• 13:55
  and
• 13:55
  I
• 13:55
  would
• 13:56
  say
• 13:56
  that's
• 13:56
  fair.
• 13:56
  And
• 13:56
  I
• 13:57
  would
• 13:57
  also
• 13:57
  say
• 13:57
  Fox
• 13:58
  is
• 13:58
  not
• 13:58
  a
• 13:58
  defined
• 13:59
  IP
• 13:59
  the
• 13:59
  way
• 13:59
  Marvel,
• 14:00
  Star
• 14:00
  wars
• 14:00
  or
• 14:00
  Pixar
• 14:01
  was
• 14:02
  saying
• 14:02
  that
• 14:02
  there's
• 14:02
  some
• 14:03
  great
• 14:03
  Fox
• 14:03
  shows
• 14:04
  and
• 14:04
  there's
• 14:04
  some
• 14:04
  good
• 14:04
  Fox
• 14:05
  ip
• 14:05
  but
• 14:05
  it's,
• 14:06
  it's
• 14:06
  not,
• 14:06
  it's,
• 14:07
  it's
• 14:07
  not
• 14:07
  that,
• 14:07
  you
• 14:08
  know,
• 14:08
  it
• 14:09
  didn't
• 14:09
  come
• 14:09
  with
• 14:09
  that
• 14:09
  clear
• 14:10
  value
• 14:10
  proposition.
• 14:11
  And
• 14:11
  then
• 14:12
  the
• 14:13
  additional
• 14:13
  complication
• 14:14
  of
• 14:14
  integrating
• 14:15
  another
• 14:15
  media
• 14:15
  company
• 14:16
  and
• 14:16
  the
• 14:19
  difficulties
• 14:19
  with
• 14:19
  that
• 14:19
  and
• 14:20
  how
• 14:20
  that
• 14:20
  kind
• 14:21
  of
• 14:21
  changed
• 14:21
  the
• 14:21
  culture
• 14:21
  at
• 14:21
  Disney
• 14:22
  is,
• 14:22
  is
• 14:23
  all
• 14:23
  part
• 14:23
  of
• 14:23
  the
• 14:24
  criticism
• 14:24
  around
• 14:24
  that
• 14:25
  deal.
• 14:26
  Disney
• 14:26
  are
• 14:27
  not
• 14:27
  known
• 14:27
  either
• 14:28
  for
• 14:29
  doing
• 14:29
  very
• 14:29
  well
• 14:30
  with
• 14:30
  their
• 14:31
  digital
• 14:31
  acquisitions,
• 14:32
  I
• 14:32
  would
• 14:32
  say.
• 14:32
  And
• 14:32
  that's
• 14:33
  probably
• 14:34
  a
• 14:34
  blind
• 14:34
  spot
• 14:34
  for
• 14:35
  them.
• 14:35
  You
• 14:35
  know,
• 14:35
  they
• 14:35
  acquired
• 14:36
  maker
• 14:36
  that
• 14:36
  was,
• 14:37
  you
• 14:37
  know,
• 14:37
  again
• 14:38
  another.
• 14:39
  That's
• 14:39
  something
• 14:39
  that
• 14:40
  they
• 14:40
  share
• 14:40
  with
• 14:40
  a
• 14:40
  lot
• 14:40
  of
• 14:40
  other
• 14:41
  established
• 14:41
  media
• 14:42
  companies.
• 14:42
  I
• 14:42
  mean
• 14:42
  famously,
• 14:43
  was
• 14:43
  it
• 14:44
  fun
• 14:44
  to
• 14:44
  bought
• 14:45
  MySpace
• 14:45
  and
• 14:45
  didn't
• 14:45
  really
• 14:46
  know
• 14:46
  what
• 14:46
  to
• 14:46
  do
• 14:46
  with
• 14:46
  it?
• 14:47
  Yeah,
• 14:47
  yeah,
• 14:47
  very
• 14:48
  different
• 14:48
  skill.
• 14:49
  But
• 14:49
  that's
• 14:49
  where
• 14:49
  I
• 14:49
  bring
• 14:50
  it
• 14:50
  back
• 14:50
  to
• 14:50
  Club
• 14:50
  Penguin.
• 14:51
  Like
• 14:51
  it
• 14:51
  was
• 14:51
  a
• 14:51
  really
• 14:51
  discreet
• 14:52
  space,
• 14:53
  specific
• 14:53
  IP
• 14:54
  Y.
• 14:55
  The
• 14:55
  one
• 14:55
  thing
• 14:56
  they
• 14:56
  got
• 14:56
  right
• 14:57
  but.
• 14:57
  They
• 14:57
  didn't,
• 14:57
  they
• 14:58
  didn't
• 14:58
  get
• 14:58
  it
• 14:58
  right.
• 14:58
  The
• 14:58
  pro,
• 14:59
  that
• 14:59
  was
• 14:59
  the
• 14:59
  problem.
• 14:59
  They
• 14:59
  didn't
• 15:00
  see
• 15:00
  the
• 15:00
  long
• 15:00
  term,
• 15:01
  they
• 15:01
  didn't
• 15:01
  see
• 15:01
  the
• 15:01
  long
• 15:01
  term
• 15:02
  potential
• 15:02
  of
• 15:02
  it.
• 15:03
  You
• 15:03
  know.
• 15:03
  What
• 15:04
  mistakes
• 15:04
  do
• 15:04
  you
• 15:04
  think
• 15:05
  they
• 15:05
  made
• 15:05
  with
• 15:05
  it?
• 15:06
  Yeah,
• 15:07
  sorry,
• 15:08
  what,
• 15:08
  what
• 15:08
  mistakes
• 15:09
  do
• 15:09
  you
• 15:09
  think
• 15:09
  Disney
• 15:10
  made
• 15:10
  them
• 15:10
  with?
• 15:11
  With
• 15:11
  Club
• 15:11
  Penguin?
• 15:13
  They
• 15:13
  deprioritized
• 15:14
  it.
• 15:14
  They
• 15:14
  didn't
• 15:15
  invest,
• 15:15
  they
• 15:15
  didn't
• 15:16
  continue
• 15:16
  to
• 15:16
  investment,
• 15:17
  they
• 15:17
  didn't
• 15:20
  majorly
• 15:20
  invest
• 15:21
  in
• 15:21
  it
• 15:21
  for
• 15:21
  mobile.
• 15:22
  Right.
• 15:22
  And
• 15:22
  that
• 15:22
  was
• 15:23
  the
• 15:23
  major
• 15:23
  thing
• 15:23
  was
• 15:23
  that
• 15:24
  they
• 15:24
  shut
• 15:24
  off
• 15:24
  the
• 15:24
  desktop
• 15:25
  experience
• 15:26
  before
• 15:27
  the
• 15:27
  MO
• 15:27
  and
• 15:27
  set
• 15:28
  up
• 15:28
  like
• 15:28
  kind
• 15:28
  of
• 15:28
  a
• 15:28
  really
• 15:29
  like
• 15:29
  wishy
• 15:29
  washy
• 15:30
  mobile
• 15:30
  experience
• 15:30
  instead.
• 15:31
  Yeah,
• 15:32
  they
• 15:32
  didn't
• 15:33
  see
• 15:33
  the
• 15:33
  vision.
• 15:33
  Right.
• 15:34
  Like
• 15:34
  they,
• 15:34
  I'm
• 15:34
  like
• 15:35
  what
• 15:35
  a
• 15:35
  time
• 15:35
  in
• 15:36
  their
• 15:36
  life,
• 15:36
  you
• 15:37
  know,
• 15:37
  in
• 15:37
  the
• 15:37
  life
• 15:37
  of
• 15:37
  that
• 15:37
  company.
• 15:38
  You
• 15:38
  know,
• 15:38
  you're
• 15:38
  talking
• 15:39
  kind
• 15:39
  of
• 15:39
  the
• 15:39
  2010s
• 15:40
  when
• 15:40
  everything
• 15:41
  was
• 15:41
  golden
• 15:41
  age.
• 15:41
  We
• 15:42
  were
• 15:42
  all
• 15:42
  making
• 15:42
  money.
• 15:42
  There
• 15:42
  was
• 15:43
  frozen
• 15:43
  dollars
• 15:43
  coming
• 15:43
  in
• 15:43
  the
• 15:44
  door.
• 15:44
  There
• 15:44
  was
• 15:44
  Star
• 15:44
  wars
• 15:44
  dollars
• 15:45
  coming
• 15:45
  in
• 15:45
  the
• 15:45
  door
• 15:46
  in
• 15:46
  a
• 15:46
  long
• 15:47
  term,
• 15:47
  15
• 15:48
  year
• 15:48
  vision.
• 15:51
  Kuklu
• 15:51
  penguin
• 15:52
  have
• 15:52
  been
• 15:52
  Roblox.
• 15:52
  Not
• 15:53
  quite
• 15:53
  the
• 15:53
  same
• 15:53
  thing,
• 15:53
  but
• 15:53
  it
• 15:54
  could
• 15:54
  be.
• 15:56
  Yeah,
• 15:56
  I
• 15:56
  could
• 15:56
  totally
• 15:57
  see
• 15:57
  It.
• 15:57
  Why
• 15:57
  not?
• 15:58
  Yeah,
• 15:58
  it
• 15:58
  could
• 15:58
  have
• 15:58
  been.
• 15:59
  Yeah,
• 15:59
  it
• 16:00
  could
• 16:00
  have
• 16:00
  been.
• 16:00
  And
• 16:01
  that's
• 16:01
  it.
• 16:02
  Given
• 16:02
  that
• 16:04
  they've
• 16:04
  invested
• 16:05
  heavily
• 16:05
  in
• 16:05
  Epic
• 16:06
  and
• 16:06
  Fortnite.
• 16:07
  Yeah.
• 16:08
  That.
• 16:09
  I
• 16:09
  do
• 16:09
  wonder
• 16:09
  if
• 16:09
  that
• 16:10
  there
• 16:10
  are
• 16:11
  some
• 16:11
  quarters
• 16:11
  of
• 16:13
  Disney
• 16:13
  that
• 16:13
  are
• 16:14
  like,
• 16:14
  oh,
• 16:14
  if
• 16:14
  only.
• 16:14
  If
• 16:14
  we'd
• 16:15
  have
• 16:15
  just
• 16:15
  stuck
• 16:16
  with
• 16:16
  it
• 16:16
  another
• 16:16
  couple
• 16:16
  of
• 16:17
  years,
• 16:17
  that
• 16:17
  vision
• 16:18
  would
• 16:18
  have
• 16:18
  become
• 16:18
  clear.
• 16:19
  I
• 16:19
  agree
• 16:19
  with
• 16:19
  you.
• 16:20
  I
• 16:20
  think
• 16:21
  it
• 16:21
  was.
• 16:21
  They
• 16:22
  didn't.
• 16:22
  They
• 16:22
  didn't
• 16:23
  see
• 16:23
  the
• 16:23
  potential.
• 16:24
  And
• 16:24
  perhaps
• 16:24
  because
• 16:25
  it's
• 16:25
  not
• 16:25
  their
• 16:25
  heartland,
• 16:26
  because
• 16:26
  they're
• 16:26
  a
• 16:27
  more
• 16:27
  traditional
• 16:27
  studio,
• 16:29
  but
• 16:29
  that
• 16:29
  vision
• 16:30
  would
• 16:30
  have
• 16:30
  crystallized
• 16:31
  and
• 16:31
  become
• 16:31
  clear
• 16:31
  if
• 16:31
  they'd
• 16:32
  have
• 16:32
  just
• 16:32
  hung
• 16:32
  on.
• 16:33
  A
• 16:33
  little
• 16:33
  bit
• 16:33
  longer.
• 16:33
  Yeah.
• 16:36
  And
• 16:36
  I
• 16:36
  also
• 16:37
  wonder
• 16:37
  whether.
• 16:37
  Cause
• 16:38
  you
• 16:38
  were
• 16:38
  saying
• 16:38
  that
• 16:38
  that's
• 16:39
  a
• 16:39
  period
• 16:39
  of
• 16:40
  real
• 16:40
  success
• 16:41
  for
• 16:41
  Disney
• 16:42
  brands
• 16:42
  at
• 16:42
  that
• 16:42
  point.
• 16:43
  Yes.
• 16:43
  And
• 16:44
  I
• 16:44
  think
• 16:44
  the
• 16:44
  problem
• 16:44
  there
• 16:45
  in
• 16:45
  some
• 16:45
  ways
• 16:45
  is
• 16:46
  that
• 16:47
  those
• 16:48
  kind
• 16:48
  of
• 16:48
  capture
• 16:49
  everyone's
• 16:49
  attention.
• 16:50
  And
• 16:51
  so
• 16:51
  something
• 16:51
  like
• 16:51
  Club
• 16:52
  Penguin,
• 16:52
  relative
• 16:53
  to
• 16:53
  that
• 16:54
  looks
• 16:54
  like
• 16:54
  it's
• 16:54
  not
• 16:55
  really
• 16:56
  that
• 16:56
  crucial
• 16:57
  or
• 16:57
  that
• 16:57
  critical.
• 16:57
  It's
• 16:58
  quite
• 16:58
  hard
• 16:58
  to
• 16:58
  then
• 16:59
  project
• 17:00
  10
• 17:00
  years
• 17:00
  into
• 17:01
  the
• 17:01
  future
• 17:01
  and
• 17:02
  think
• 17:02
  of
• 17:03
  what
• 17:03
  it
• 17:03
  could
• 17:03
  be.
• 17:04
  And
• 17:04
  it
• 17:04
  was
• 17:04
  seen
• 17:04
  as
• 17:04
  a
• 17:05
  platform,
• 17:05
  not
• 17:05
  an
• 17:05
  ip,
• 17:06
  if
• 17:06
  you.
• 17:06
  You
• 17:06
  know
• 17:06
  what
• 17:07
  I
• 17:07
  mean?
• 17:07
  Right.
• 17:07
  Like,
• 17:07
  so
• 17:08
  let's
• 17:08
  use
• 17:08
  Club
• 17:09
  Penguin
• 17:09
  to
• 17:09
  do
• 17:09
  a
• 17:10
  Frozen
• 17:10
  party
• 17:10
  to
• 17:10
  promote,
• 17:11
  you
• 17:11
  know,
• 17:12
  Frozen,
• 17:12
  whatever.
• 17:13
  Like
• 17:13
  Disney.
• 17:14
  Disney
• 17:14
  are.
• 17:15
  Are
• 17:15
  the
• 17:15
  king
• 17:15
  of
• 17:15
  using
• 17:15
  their
• 17:16
  platforms
• 17:16
  to,
• 17:17
  you
• 17:18
  know,
• 17:18
  be
• 17:18
  the
• 17:18
  machine
• 17:19
  that
• 17:19
  promotes
• 17:19
  the.
• 17:20
  Promotes
• 17:20
  the
• 17:20
  brand.
• 17:20
  But,
• 17:20
  like,
• 17:21
  they
• 17:21
  didn't
• 17:21
  see
• 17:21
  it.
• 17:22
  They
• 17:22
  saw
• 17:22
  it
• 17:22
  just
• 17:22
  as.
• 17:23
  As
• 17:23
  a
• 17:23
  platform.
• 17:23
  Not.
• 17:24
  Not
• 17:24
  an
• 17:24
  IP
• 17:24
  or
• 17:24
  not.
• 17:25
  Not
• 17:25
  a.
• 17:25
  You
• 17:25
  know,
• 17:25
  not
• 17:26
  something.
• 17:26
  Not
• 17:26
  a
• 17:26
  community,
• 17:27
  maybe.
• 17:28
  Yeah,
• 17:28
  but.
• 17:28
  But
• 17:29
  like
• 17:29
  you
• 17:29
  say,
• 17:30
  I
• 17:30
  mean,
• 17:30
  one
• 17:31
  community,
• 17:31
  and
• 17:31
  look
• 17:32
  how
• 17:32
  valuable
• 17:32
  they
• 17:32
  are
• 17:32
  now.
• 17:33
  And
• 17:33
  those
• 17:33
  that
• 17:34
  were
• 17:34
  building
• 17:34
  community
• 17:35
  at
• 17:35
  the
• 17:35
  time
• 17:35
  that
• 17:36
  Club
• 17:36
  Penguin
• 17:36
  was
• 17:37
  around,
• 17:37
  the
• 17:37
  Mr.
• 17:38
  Beasts
• 17:38
  of
• 17:38
  this
• 17:38
  world,
• 17:39
  look
• 17:39
  where
• 17:39
  they
• 17:39
  are.
• 17:39
  They've
• 17:40
  got
• 17:40
  the
• 17:40
  big
• 17:40
  communities
• 17:40
  in
• 17:41
  the
• 17:41
  world,
• 17:41
  so
• 17:42
  maybe
• 17:43
  a
• 17:43
  miss
• 17:43
  there,
• 17:43
  but
• 17:44
  it
• 17:44
  was
• 17:44
  safe,
• 17:44
  social.
• 17:45
  And
• 17:45
  again,
• 17:45
  coming.
• 17:46
  Coming
• 17:47
  back
• 17:47
  to
• 17:47
  what
• 17:47
  we're
• 17:47
  talking
• 17:47
  about
• 17:48
  with
• 17:48
  Internet
• 17:48
  Day.
• 17:49
  Safe
• 17:49
  Internet
• 17:50
  Day,
• 17:50
  they
• 17:50
  had
• 17:51
  safe
• 17:51
  social.
• 17:52
  And
• 17:53
  arguably,
• 17:53
  and
• 17:53
  again,
• 17:54
  like
• 17:54
  I
• 17:54
  said,
• 17:54
  hindsight
• 17:55
  is
• 17:55
  a
• 17:55
  wonderful
• 17:55
  thing,
• 17:55
  but
• 17:56
  they
• 17:56
  were
• 17:56
  doing
• 17:56
  pretty
• 17:57
  well.
• 17:58
  Yeah,
• 17:58
  absolutely.
• 17:59
  I
• 17:59
  mean,
• 17:59
  going
• 18:00
  back
• 18:00
  to
• 18:00
  the.
• 18:01
  To
• 18:01
  the.
• 18:02
  The
• 18:02
  story
• 18:03
  about
• 18:03
  this
• 18:03
  new
• 18:04
  CEO,
• 18:04
  I
• 18:04
  wonder
• 18:05
  whether
• 18:07
  there's
• 18:07
  almost.
• 18:08
  Club
• 18:08
  Penguin
• 18:09
  could
• 18:09
  have
• 18:09
  been
• 18:10
  like
• 18:10
  a
• 18:11
  digital
• 18:11
  version
• 18:11
  of
• 18:12
  the
• 18:12
  parks.
• 18:13
  Do
• 18:14
  you
• 18:14
  mean
• 18:14
  it
• 18:14
  could
• 18:14
  have
• 18:14
  very
• 18:15
  much
• 18:15
  been
• 18:15
  like
• 18:15
  a
• 18:15
  digital
• 18:16
  version
• 18:16
  of
• 18:16
  the
• 18:16
  parks?
• 18:17
  And
• 18:17
  I
• 18:17
  think
• 18:17
  our
• 18:18
  friend
• 18:18
  Josh,
• 18:19
  he's
• 18:19
  kind
• 18:19
  of.
• 18:21
  He's.
• 18:21
  He's
• 18:22
  kind
• 18:22
  of.
• 18:23
  His
• 18:24
  background
• 18:25
  is
• 18:26
  from
• 18:26
  the
• 18:26
  parks.
• 18:27
  He's
• 18:27
  come
• 18:27
  from.
• 18:28
  From
• 18:28
  that
• 18:28
  side
• 18:29
  of
• 18:29
  it.
• 18:29
  And
• 18:29
  you
• 18:29
  can
• 18:29
  see
• 18:29
  how
• 18:30
  Club
• 18:30
  Penguin
• 18:31
  or
• 18:31
  something
• 18:31
  like
• 18:31
  that
• 18:32
  could
• 18:32
  have
• 18:32
  been
• 18:32
  integrated
• 18:33
  into
• 18:34
  a
• 18:34
  Complete
• 18:35
  kind
• 18:35
  of
• 18:36
  universe
• 18:36
  where
• 18:36
  you've
• 18:37
  got
• 18:37
  the
• 18:37
  parks,
• 18:38
  you've
• 18:38
  got
• 18:38
  the
• 18:38
  digital
• 18:38
  reflection
• 18:39
  of
• 18:39
  that.
• 18:40
  Well,
• 18:40
  that's
• 18:40
  how
• 18:40
  they're
• 18:41
  now
• 18:41
  considering
• 18:41
  Fortnite.
• 18:42
  There's
• 18:42
  been
• 18:42
  multiple
• 18:43
  commentary
• 18:44
  on
• 18:44
  how
• 18:44
  they
• 18:44
  consider
• 18:45
  Fortnite
• 18:46
  to
• 18:46
  be
• 18:46
  the
• 18:46
  platform
• 18:47
  on
• 18:47
  which
• 18:47
  they
• 18:48
  can
• 18:48
  build
• 18:49
  the
• 18:49
  digital
• 18:49
  version
• 18:50
  of
• 18:50
  their
• 18:50
  parks
• 18:50
  and
• 18:51
  populate
• 18:51
  it
• 18:51
  with
• 18:51
  their
• 18:51
  characters
• 18:52
  and
• 18:52
  premiere
• 18:53
  movies
• 18:53
  in
• 18:53
  there
• 18:54
  and
• 18:54
  things.
• 18:54
  Yeah.
• 18:55
  So.
• 18:55
  Okay,
• 18:56
  yeah,
• 18:56
  hang
• 18:57
  on
• 18:57
  one
• 18:57
  second.
• 18:57
  Okay,
• 18:57
  one
• 18:57
  second.
• 18:58
  Hi,
• 18:58
  Josh.
• 19:00
  Hi,
• 19:01
  Josh
• 19:01
  here
• 19:02
  with
• 19:03
  Andy
• 19:03
  and
• 19:04
  Joe.
• 19:05
  You
• 19:06
  mind
• 19:06
  us
• 19:06
  calling
• 19:06
  you
• 19:06
  Josh?
• 19:07
  Your
• 19:08
  IP
• 19:09
  issue
• 19:09
  is
• 19:10
  going
• 19:10
  to
• 19:10
  be
• 19:10
  solved
• 19:11
  by
• 19:13
  re
• 19:14
  engaging
• 19:15
  with
• 19:15
  the
• 19:15
  Club
• 19:15
  Penguin
• 19:16
  ip.
• 19:16
  And
• 19:17
  you
• 19:17
  know
• 19:18
  what,
• 19:18
  Joking
• 19:18
  aside,
• 19:19
  I
• 19:20
  still.
• 19:20
  So
• 19:21
  I
• 19:21
  have
• 19:21
  a
• 19:22
  2020
• 19:23
  or
• 19:24
  21
• 19:25
  year
• 19:25
  old
• 19:25
  niece
• 19:25
  who
• 19:26
  still
• 19:27
  talks
• 19:27
  so
• 19:28
  fondly
• 19:28
  about
• 19:29
  Club
• 19:29
  Penguin.
• 19:30
  So
• 19:30
  there's.
• 19:31
  And,
• 19:31
  and
• 19:31
  given
• 19:31
  that
• 19:32
  we've
• 19:32
  got
• 19:32
  this
• 19:32
  whole
• 19:33
  nostalgia
• 19:33
  thing
• 19:33
  for
• 19:33
  2016
• 19:34
  all
• 19:35
  over
• 19:35
  my
• 19:35
  tick
• 19:36
  tock
• 19:36
  feed,
• 19:36
  you
• 19:36
  know.
• 19:37
  Nostalgia.
• 19:38
  Yeah.
• 19:39
  Harking
• 19:39
  back
• 19:39
  to
• 19:40
  a
• 19:40
  time
• 19:40
  when
• 19:40
  we
• 19:40
  all
• 19:41
  felt
• 19:41
  a
• 19:41
  little
• 19:41
  bit
• 19:41
  more
• 19:42
  safe
• 19:42
  and
• 19:42
  secure.
• 19:42
  I
• 19:42
  don't
• 19:43
  know
• 19:43
  why
• 19:43
  when
• 19:43
  Rickman
• 19:43
  died.
• 19:44
  I
• 19:44
  don't
• 19:44
  buy
• 19:45
  that
• 19:45
  2016.
• 19:46
  Okay.
• 19:46
  You
• 19:46
  know,
• 19:46
  whatever.
• 19:47
  That
• 19:47
  was
• 19:47
  a
• 19:47
  bad
• 19:47
  year
• 19:47
  for
• 19:48
  that,
• 19:48
  I'll
• 19:48
  give
• 19:48
  you
• 19:48
  that.
• 19:49
  But
• 19:49
  you
• 19:49
  know
• 19:49
  what?
• 19:50
  I
• 19:51
  would
• 19:51
  not.
• 19:51
  If
• 19:52
  they
• 19:52
  could
• 19:52
  do
• 19:52
  something
• 19:52
  with
• 19:53
  Club
• 19:53
  Penguin,
• 19:54
  I
• 19:54
  think
• 19:54
  it
• 19:54
  would
• 19:54
  work
• 19:55
  if
• 19:55
  they
• 19:55
  brought
• 19:55
  it
• 19:56
  back
• 19:56
  inside.
• 19:56
  I
• 19:56
  mean,
• 19:56
  look
• 19:57
  at.
• 19:57
  Nobody
• 19:57
  thought
• 19:58
  that
• 19:58
  the
• 19:58
  Minecraft
• 19:59
  movie
• 19:59
  would
• 19:59
  work.
• 19:59
  Yeah,
• 20:00
  yeah.
• 20:00
  But
• 20:01
  it
• 20:01
  needs
• 20:01
  to
• 20:01
  be
• 20:01
  strategic,
• 20:02
  not
• 20:02
  tactical.
• 20:04
  Strategic,
• 20:05
  not
• 20:05
  tactical
• 20:06
  and
• 20:06
  a
• 20:06
  bloody
• 20:07
  story.
• 20:07
  But
• 20:07
  I
• 20:08
  think.
• 20:11
  I
• 20:11
  think
• 20:11
  there
• 20:11
  are
• 20:12
  multiple,
• 20:13
  potentially
• 20:13
  multiple
• 20:14
  creators,
• 20:14
  directors,
• 20:15
  producers
• 20:15
  out
• 20:16
  there
• 20:16
  that
• 20:16
  would
• 20:17
  also
• 20:17
  feel
• 20:17
  very
• 20:17
  fondly
• 20:18
  about
• 20:18
  Club
• 20:18
  Penguin
• 20:19
  and
• 20:19
  they'd
• 20:19
  love
• 20:19
  to
• 20:19
  get
• 20:19
  their
• 20:20
  hands
• 20:20
  on
• 20:20
  it.
• 20:20
  Yeah,
• 20:21
  yeah.
• 20:22
  Oh
• 20:22
  gosh.
• 20:22
  We're
• 20:23
  consulting
• 20:23
  for
• 20:23
  free
• 20:23
  again.
• 20:26
  For
• 20:27
  you,
• 20:27
  Josh.
• 20:28
  Yes.
• 20:29
  Yeah,
• 20:29
  yeah.
• 20:30
  But
• 20:30
  listen,
• 20:30
  I
• 20:30
  think
• 20:30
  it's
• 20:30
  all
• 20:31
  fair.
• 20:31
  It's
• 20:31
  fair
• 20:31
  criticism
• 20:32
  about
• 20:32
  that.
• 20:32
  I
• 20:32
  mean
• 20:32
  there's
• 20:33
  lots
• 20:33
  of
• 20:33
  good
• 20:33
  things.
• 20:34
  You
• 20:34
  know,
• 20:34
  he's
• 20:34
  very,
• 20:35
  he
• 20:35
  knows
• 20:35
  Disney
• 20:35
  fan.
• 20:36
  He's
• 20:36
  very
• 20:36
  passionate
• 20:36
  about
• 20:37
  the
• 20:37
  Disney
• 20:37
  fan
• 20:39
  parks
• 20:40
  and
• 20:40
  experience.
• 20:40
  That
• 20:41
  real
• 20:42
  type
• 20:42
  of
• 20:43
  engagement
• 20:44
  is
• 20:45
  definitely
• 20:45
  has
• 20:45
  to
• 20:46
  be
• 20:46
  part
• 20:46
  of
• 20:46
  the
• 20:46
  future,
• 20:48
  but
• 20:48
  it
• 20:48
  just,
• 20:49
  it
• 20:49
  doesn't
• 20:49
  solve.
• 20:50
  Doesn't
• 20:50
  solve
• 20:50
  Disney's
• 20:51
  IP
• 20:51
  issue.
• 20:54
  So
• 20:54
  yeah,
• 20:54
  bit
• 20:55
  of
• 20:55
  a
• 20:55
  challenging
• 20:55
  one
• 20:55
  there.
• 20:55
  Do
• 20:56
  you
• 20:56
  think
• 20:56
  Disney
• 20:56
  has
• 20:57
  an
• 20:57
  IP
• 20:57
  issue?
• 20:59
  Yes.
• 21:00
  You
• 21:00
  do
• 21:01
  you
• 21:01
  not
• 21:02
  think
• 21:02
  so?
• 21:03
  Well,
• 21:04
  they've
• 21:04
  had
• 21:05
  some
• 21:05
  of
• 21:05
  the
• 21:05
  biggest
• 21:06
  animated
• 21:06
  movies
• 21:08
  over
• 21:09
  the
• 21:09
  last
• 21:09
  couple
• 21:09
  of
• 21:09
  years.
• 21:11
  A
• 21:11
  new
• 21:11
  IP
• 21:12
  issue?
• 21:14
  Well,
• 21:14
  I
• 21:14
  mean,
• 21:15
  I
• 21:15
  think
• 21:15
  maybe
• 21:15
  more.
• 21:16
  A
• 21:16
  new
• 21:16
  IP
• 21:16
  issue.
• 21:16
  And
• 21:17
  also
• 21:17
  the
• 21:17
  fact
• 21:18
  that
• 21:18
  they're
• 21:19
  having,
• 21:20
  they're
• 21:20
  having
• 21:20
  miss
• 21:21
  misses
• 21:21
  as
• 21:21
  well
• 21:21
  as
• 21:22
  hits.
• 21:22
  Yeah.
• 21:22
  When
• 21:23
  they
• 21:23
  used
• 21:23
  to,
• 21:24
  you
• 21:24
  know,
• 21:24
  their
• 21:24
  run
• 21:25
  rate
• 21:25
  was
• 21:25
  pretty
• 21:25
  good.
• 21:26
  Yeah,
• 21:27
  right,
• 21:27
  sorry.
• 21:27
  Like
• 21:28
  we're
• 21:28
  talking
• 21:28
  like
• 21:28
  back
• 21:28
  in
• 21:29
  2010s
• 21:29
  you
• 21:29
  had
• 21:29
  Zootopia
• 21:30
  Moana.
• 21:34
  And
• 21:34
  it
• 21:34
  was
• 21:35
  one
• 21:35
  after
• 21:35
  another.
• 21:36
  Yeah,
• 21:36
  yeah,
• 21:37
  yeah,
• 21:37
  yeah.
• 21:37
  The
• 21:38
  originals
• 21:38
  is
• 21:38
  an
• 21:38
  issue.
• 21:39
  Yeah.
• 21:39
  Granted.
• 21:40
  And
• 21:40
  it
• 21:40
  surprisingly
• 21:41
  is
• 21:41
  not
• 21:42
  one
• 21:42
  that
• 21:43
  is
• 21:44
  not
• 21:44
  one
• 21:44
  that
• 21:44
  Iger
• 21:45
  ended
• 21:45
  up
• 21:46
  solving
• 21:46
  really.
• 21:47
  Which
• 21:47
  was.
• 21:48
  His
• 21:48
  return
• 21:48
  was
• 21:49
  supposed
• 21:49
  to
• 21:49
  solve
• 21:50
  that
• 21:51
  issue.
• 21:52
  It's
• 21:53
  that
• 21:53
  IP
• 21:54
  truffle
• 21:54
  picking
• 21:55
  type
• 21:55
  of
• 21:56
  competency.
• 21:57
  Right.
• 21:57
  Isn't
• 21:58
  it
• 21:58
  like.
• 21:58
  And
• 21:58
  again,
• 21:59
  the
• 21:59
  Fox
• 22:00
  acquisition
• 22:00
  wasn't
• 22:00
  an
• 22:01
  IP
• 22:01
  truffle
• 22:01
  pigging.
• 22:01
  That
• 22:01
  was,
• 22:02
  that
• 22:02
  was
• 22:02
  like
• 22:02
  a.
• 22:03
  That
• 22:04
  was
• 22:04
  an
• 22:04
  asset
• 22:04
  bank
• 22:05
  maker.
• 22:06
  Arguably
• 22:06
  was
• 22:06
  an
• 22:06
  asset
• 22:07
  bank,
• 22:07
  not
• 22:07
  IP
• 22:08
  led
• 22:08
  Peng
• 22:08
  Penguin
• 22:09
  is
• 22:09
  something
• 22:09
  different
• 22:10
  actually
• 22:10
  on
• 22:10
  that
• 22:11
  Pixar,
• 22:12
  I
• 22:13
  would
• 22:13
  say
• 22:13
  is
• 22:13
  less
• 22:14
  of
• 22:14
  an
• 22:14
  asset
• 22:14
  back,
• 22:14
  more
• 22:15
  of
• 22:15
  an
• 22:15
  I
• 22:15
  like
• 22:16
  an
• 22:16
  IP
• 22:16
  or
• 22:17
  ip.
• 22:18
  You
• 22:18
  know,
• 22:19
  I
• 22:19
  think
• 22:19
  of
• 22:19
  like
• 22:19
  what,
• 22:20
  what,
• 22:20
  what.
• 22:20
  What's
• 22:21
  happening
• 22:21
  with
• 22:21
  Candle
• 22:21
  and
• 22:22
  you
• 22:22
  know,
• 22:22
  and
• 22:22
  listen,
• 22:23
  they
• 22:23
  haven't
• 22:23
  made
• 22:23
  all
• 22:23
  the
• 22:24
  right
• 22:24
  decisions
• 22:24
  but
• 22:24
  like
• 22:24
  going
• 22:25
  hello
• 22:25
  sunshine.
• 22:26
  Reese
• 22:26
  with
• 22:26
  a
• 22:26
  spoon.
• 22:26
  This
• 22:27
  is
• 22:27
  like,
• 22:28
  you
• 22:28
  know,
• 22:28
  this
• 22:28
  has
• 22:28
  got
• 22:29
  that
• 22:29
  kind
• 22:29
  of
• 22:29
  juice.
• 22:30
  Yeah.
• 22:31
  That
• 22:31
  feels
• 22:32
  like
• 22:32
  more
• 22:32
  of
• 22:32
  that
• 22:32
  truffle
• 22:33
  picking.
• 22:34
  Yeah,
• 22:35
  I
• 22:35
  can
• 22:35
  see
• 22:35
  that.
• 22:37
  I
• 22:37
  mean
• 22:37
  I
• 22:37
  always,
• 22:38
  I
• 22:38
  always
• 22:38
  thought
• 22:39
  that
• 22:39
  with
• 22:39
  Bob
• 22:40
  Iger,
• 22:40
  his,
• 22:41
  his
• 22:41
  real
• 22:41
  magic
• 22:42
  was
• 22:42
  sort
• 22:42
  of
• 22:42
  as
• 22:43
  a
• 22:43
  deal
• 22:43
  maker.
• 22:43
  He.
• 22:44
  He
• 22:45
  brought
• 22:46
  incredible
• 22:46
  kind
• 22:47
  of
• 22:47
  brands
• 22:47
  into
• 22:48
  the
• 22:48
  Disney
• 22:48
  universe
• 22:49
  that
• 22:49
  felt
• 22:50
  complementary
• 22:51
  to
• 22:51
  that
• 22:51
  universe.
• 22:52
  I
• 22:52
  think
• 22:52
  that's
• 22:53
  why
• 22:53
  Fox
• 22:53
  ended
• 22:54
  up
• 22:54
  being
• 22:55
  one
• 22:55
  of
• 22:55
  those
• 22:57
  deals
• 22:57
  that
• 22:58
  wasn't
• 22:58
  as
• 22:58
  easy
• 22:58
  to
• 22:58
  integrate.
• 22:59
  But
• 22:59
  certainly
• 22:59
  with
• 22:59
  Pixar
• 23:00
  and
• 23:01
  Marvel
• 23:01
  they
• 23:01
  felt
• 23:02
  like
• 23:02
  that
• 23:02
  was
• 23:02
  kind
• 23:03
  of
• 23:03
  very
• 23:03
  complementary.
• 23:05
  But
• 23:05
  maybe,
• 23:06
  maybe
• 23:06
  now
• 23:07
  you
• 23:07
  need.
• 23:08
  I
• 23:08
  almost
• 23:08
  think
• 23:08
  like
• 23:09
  the
• 23:09
  Eisner
• 23:09
  era
• 23:09
  was
• 23:10
  more
• 23:10
  of
• 23:10
  the
• 23:10
  era
• 23:10
  where
• 23:11
  you
• 23:11
  had
• 23:11
  that
• 23:12
  creative
• 23:13
  kind
• 23:13
  of
• 23:14
  renaissance.
• 23:18
  Yeah,
• 23:20
  yeah,
• 23:20
  yeah,
• 23:20
  yeah,
• 23:21
  yeah,
• 23:21
  yeah.
• 23:21
  I'm
• 23:21
  trying
• 23:21
  to
• 23:22
  think
• 23:22
  where
• 23:22
  are
• 23:22
  we
• 23:22
  talking
• 23:22
  2003.
• 23:25
  Yeah.
• 23:25
  And
• 23:26
  through
• 23:26
  to.
• 23:27
  I
• 23:27
  mean
• 23:27
  I'd
• 23:27
  probably
• 23:28
  still
• 23:28
  include.
• 23:29
  Wasn't.
• 23:30
  Was
• 23:30
  High
• 23:30
  School
• 23:31
  Musical
• 23:31
  still
• 23:31
  at
• 23:32
  the
• 23:32
  end
• 23:32
  of
• 23:32
  the
• 23:32
  Eisner
• 23:33
  era?
• 23:34
  Yeah,
• 23:35
  I
• 23:35
  think
• 23:35
  it
• 23:35
  was.
• 23:37
  That
• 23:37
  was
• 23:37
  kind
• 23:37
  of
• 23:37
  2002.
• 23:38
  2003.
• 23:40
  So
• 23:40
  kind
• 23:40
  of
• 23:41
  during
• 23:41
  that
• 23:41
  2003
• 23:42
  I.
• 23:43
  Was
• 23:43
  going
• 23:43
  to
• 23:43
  be
• 23:43
  2003.
• 23:44
  Yeah.
• 23:46
  You
• 23:46
  googling
• 23:47
  now.
• 23:47
  It's
• 23:47
  earlier
• 23:47
  than
• 23:48
  that.
• 23:48
  I
• 23:48
  thought,
• 23:48
  I
• 23:48
  thought
• 23:49
  it
• 23:49
  was.
• 23:50
  It's
• 23:50
  just
• 23:50
  1020,
• 23:50
  isn't
• 23:51
  it?
• 23:51
  Oh,
• 23:51
  you're
• 23:52
  right.
• 23:52
  2006.
• 23:53
  Then
• 23:55
  split
• 23:55
  the
• 23:55
  change.
• 23:56
  I
• 23:56
  just
• 23:56
  said
• 23:56
  2010.
• 23:58
  Hang
• 23:59
  on.
• 23:59
  2006
• 24:00
  it
• 24:00
  was.
• 24:00
  Yeah,
• 24:01
  yeah,
• 24:01
  yeah,
• 24:03
  yeah,
• 24:04
  yeah.
• 24:04
  Listen,
• 24:07
  it's
• 24:07
  also
• 24:07
  the
• 24:07
  first.
• 24:08
  I
• 24:09
  kind
• 24:09
  of
• 24:09
  feel
• 24:09
  that
• 24:09
  they.
• 24:11
  The
• 24:11
  environment
• 24:12
  in
• 24:12
  which
• 24:12
  the
• 24:12
  new
• 24:13
  IP
• 24:13
  is
• 24:13
  created
• 24:14
  almost
• 24:14
  needs
• 24:14
  to
• 24:15
  be
• 24:15
  one
• 24:15
  in
• 24:15
  which
• 24:16
  there
• 24:16
  aren't.
• 24:18
  It
• 24:18
  isn't
• 24:18
  heaped
• 24:19
  with
• 24:19
  expectations
• 24:20
  in
• 24:20
  terms
• 24:20
  of
• 24:21
  what
• 24:22
  that
• 24:22
  new
• 24:22
  IP
• 24:22
  is
• 24:23
  going
• 24:23
  to
• 24:23
  achieve
• 24:23
  straight
• 24:23
  out
• 24:24
  of
• 24:24
  the
• 24:24
  gate.
• 24:25
  Yeah.
• 24:25
  Because
• 24:25
  you're
• 24:26
  never
• 24:26
  going
• 24:26
  to
• 24:26
  be
• 24:26
  able
• 24:26
  to
• 24:26
  compete
• 24:27
  with
• 24:28
  Zootropia,
• 24:30
  Zootopia
• 24:30
  or
• 24:31
  kind
• 24:31
  of
• 24:32
  or
• 24:33
  Toy
• 24:34
  Story.
• 24:34
  Those,
• 24:35
  those
• 24:36
  kind
• 24:36
  of
• 24:36
  sequels,
• 24:36
  I
• 24:37
  think
• 24:37
  are
• 24:37
  always
• 24:37
  going
• 24:37
  to
• 24:37
  bring
• 24:38
  a
• 24:38
  bigger
• 24:39
  audience
• 24:39
  than
• 24:40
  the
• 24:40
  originals.
• 24:40
  In
• 24:41
  the
• 24:41
  name
• 24:41
  of
• 24:41
  Paper
• 24:41
  Demon
• 24:42
  Hunters.
• 24:42
  I
• 24:42
  would
• 24:42
  disagree,
• 24:43
  but
• 24:43
  you
• 24:44
  know.
• 24:45
  Yeah,
• 24:46
  yeah.
• 24:46
  And
• 24:46
  I
• 24:46
  mean,
• 24:47
  and
• 24:47
  that's,
• 24:47
  I
• 24:47
  think
• 24:48
  a
• 24:49
  key
• 24:49
  part
• 24:49
  of
• 24:49
  that
• 24:50
  is
• 24:50
  the,
• 24:51
  is
• 24:51
  the
• 24:52
  Netflix
• 24:53
  as
• 24:53
  a
• 24:53
  platform.
• 24:53
  When
• 24:53
  we
• 24:54
  actually
• 24:54
  launched
• 24:54
  that,
• 24:54
  I
• 24:55
  don't
• 24:55
  think
• 24:55
  K
• 24:56
  Pop
• 24:57
  would
• 24:57
  have
• 24:57
  been
• 24:57
  as
• 24:57
  big
• 24:57
  a
• 24:58
  hit
• 24:58
  as
• 24:59
  a
• 24:59
  theatrical
• 24:59
  release.
• 25:01
  I
• 25:01
  don't
• 25:01
  think
• 25:01
  it
• 25:01
  would
• 25:02
  be
• 25:02
  as
• 25:02
  big
• 25:02
  a
• 25:02
  hit
• 25:02
  as
• 25:02
  a
• 25:02
  theatrical
• 25:03
  release.
• 25:03
  But
• 25:03
  if
• 25:03
  it
• 25:03
  had
• 25:04
  hit
• 25:04
  Disney
• 25:04
  plus
• 25:04
  as
• 25:04
  a
• 25:04
  streaming
• 25:05
  release.
• 25:06
  Oh
• 25:06
  yeah,
• 25:07
  potentially.
• 25:07
  But
• 25:09
  in
• 25:09
  some
• 25:09
  ways
• 25:09
  it's
• 25:10
  kind
• 25:10
  of
• 25:10
  what
• 25:10
  the
• 25:10
  streaming
• 25:11
  platforms
• 25:12
  can
• 25:12
  do
• 25:13
  is
• 25:13
  that
• 25:13
  they
• 25:13
  can
• 25:14
  breathe,
• 25:14
  they
• 25:14
  can
• 25:14
  kind
• 25:15
  of
• 25:15
  build
• 25:15
  in
• 25:15
  that
• 25:15
  familiarity
• 25:16
  with
• 25:16
  it.
• 25:17
  So
• 25:18
  quite
• 25:18
  a
• 25:18
  kind
• 25:18
  of
• 25:18
  rapid
• 25:19
  speed
• 25:21
  and
• 25:21
  I
• 25:21
  don't
• 25:22
  know.
• 25:22
  So
• 25:22
  maybe
• 25:23
  that,
• 25:23
  maybe
• 25:23
  that's
• 25:23
  the
• 25:24
  answer
• 25:24
  is,
• 25:25
  is
• 25:25
  for
• 25:25
  Disney
• 25:26
  plus
• 25:26
  to
• 25:26
  really
• 25:26
  leverage.
• 25:28
  For
• 25:28
  Disney
• 25:29
  to
• 25:29
  leverage
• 25:29
  Disney
• 25:30
  plus
• 25:30
  for
• 25:30
  their
• 25:30
  new
• 25:31
  franchise
• 25:31
  in,
• 25:31
  in
• 25:32
  a
• 25:32
  way
• 25:32
  that
• 25:32
  they
• 25:32
  haven't
• 25:32
  managed
• 25:33
  to
• 25:33
  up
• 25:34
  up
• 25:34
  to
• 25:34
  this
• 25:35
  point.
• 25:36
  Yeah,
• 25:37
  definitely.
• 25:38
  Yeah.
• 25:39
  Right.
• 25:39
  What
• 25:40
  else
• 25:40
  is
• 25:40
  on
• 25:40
  the
• 25:40
  list?
• 25:40
  We
• 25:40
  were
• 25:40
  talking,
• 25:41
  talking
• 25:41
  about
• 25:41
  franchises
• 25:42
  and
• 25:43
  sequels
• 25:44
  and.
• 25:45
  Yeah.
• 25:45
  Well,
• 25:46
  I
• 25:46
  was,
• 25:46
  I,
• 25:47
  I
• 25:47
  was
• 25:47
  just
• 25:47
  gonna
• 25:47
  mention
• 25:48
  that
• 25:48
  I'd
• 25:49
  noticed
• 25:50
  Pokemon
• 25:51
  advertising
• 25:51
  in
• 25:51
  the
• 25:51
  Super
• 25:51
  Bowl.
• 25:52
  Yeah.
• 25:53
  Pokemon
• 25:53
  turns
• 25:53
  30.
• 25:54
  Happy
• 25:54
  birthday.
• 25:55
  So
• 25:55
  High
• 25:55
  School
• 25:55
  Musical
• 25:56
  20
• 25:56
  and
• 25:56
  Pokemon
• 25:57
  turns
• 25:57
  30.
• 25:57
  We're
• 25:57
  all
• 25:58
  enjoy
• 25:59
  it.
• 26:03
  Year
• 26:03
  and.
• 26:04
  But
• 26:05
  Pokemon
• 26:06
  advertised
• 26:06
  in
• 26:07
  the
• 26:07
  super
• 26:07
  bowl
• 26:09
  still
• 26:09
  proving
• 26:10
  that
• 26:10
  kids
• 26:10
  IP
• 26:11
  owners
• 26:11
  are
• 26:12
  still
• 26:12
  willing
• 26:12
  to
• 26:12
  kind
• 26:12
  of
• 26:13
  invest
• 26:13
  in
• 26:14
  traditional
• 26:14
  media
• 26:14
  and
• 26:15
  you
• 26:15
  know,
• 26:15
  culturally,
• 26:16
  culturally
• 26:17
  relevant
• 26:17
  $8
• 26:17
  million
• 26:18
  per
• 26:18
  30
• 26:18
  second
• 26:19
  spot
• 26:19
  media.
• 26:20
  But
• 26:22
  still
• 26:22
  has
• 26:23
  traction.
• 26:23
  Right.
• 26:23
  You
• 26:24
  know,
• 26:24
  particularly
• 26:24
  those,
• 26:25
  those
• 26:26
  big
• 26:27
  moments
• 26:27
  like
• 26:27
  the
• 26:27
  Super
• 26:28
  Bowl.
• 26:28
  And
• 26:28
  you
• 26:28
  were
• 26:29
  saying
• 26:29
  about.
• 26:29
  Gary
• 26:29
  Vaynerchuk
• 26:30
  had
• 26:30
  said
• 26:30
  that
• 26:30
  that's
• 26:31
  the
• 26:31
  most
• 26:31
  powerful
• 26:32
  piece
• 26:32
  of
• 26:32
  media
• 26:33
  you
• 26:33
  can
• 26:33
  buy.
• 26:34
  Yeah.
• 26:34
  So
• 26:34
  his
• 26:34
  argument
• 26:35
  is
• 26:35
  that.
• 26:37
  Well,
• 26:37
  his
• 26:37
  argument
• 26:38
  is
• 26:38
  that
• 26:38
  the
• 26:39
  super
• 26:39
  bowl.
• 26:40
  Only
• 26:40
  on
• 26:40
  the
• 26:40
  super
• 26:41
  bowl
• 26:41
  can
• 26:41
  you
• 26:41
  buy
• 26:41
  a
• 26:42
  media
• 26:42
  slot
• 26:42
  that
• 26:42
  will
• 26:43
  guarantee
• 26:43
  200
• 26:44
  million
• 26:45
  views.
• 26:45
  Not
• 26:46
  sure
• 26:46
  if
• 26:46
  that's
• 26:46
  accurate
• 26:47
  and
• 26:47
  actually
• 26:48
  arguably
• 26:48
  would
• 26:49
  work
• 26:49
  very
• 26:49
  well
• 26:49
  for
• 26:50
  Pokemon
• 26:50
  at
• 26:50
  30
• 26:50
  years
• 26:50
  old
• 26:51
  because
• 26:51
  you've
• 26:51
  got
• 26:51
  that
• 26:51
  multi
• 26:52
  generational
• 26:52
  appeal.
• 26:53
  Yeah.
• 26:54
  You
• 26:54
  sit
• 26:54
  in
• 26:54
  the
• 26:54
  super
• 26:55
  bowl
• 26:55
  and
• 26:55
  you're
• 26:55
  going
• 26:55
  to
• 26:56
  appeal
• 26:56
  to
• 26:56
  kids
• 26:57
  who
• 26:57
  are
• 26:57
  satisfied
• 26:57
  eating
• 26:58
  chicken
• 26:58
  wings
• 26:58
  with
• 26:58
  the
• 26:59
  family
• 26:59
  because
• 26:59
  they're
• 27:00
  talking
• 27:00
  about
• 27:00
  the
• 27:00
  new
• 27:00
  Lego
• 27:01
  launch.
• 27:01
  Then
• 27:02
  you've
• 27:02
  got
• 27:02
  special
• 27:03
  editions
• 27:03
  of
• 27:03
  the
• 27:04
  trading
• 27:04
  card
• 27:04
  game
• 27:05
  to
• 27:05
  celebrate
• 27:06
  the
• 27:06
  30th
• 27:06
  anniversary.
• 27:07
  That's
• 27:07
  going
• 27:07
  to
• 27:07
  appeal
• 27:07
  to
• 27:07
  the
• 27:08
  dad.
• 27:09
  So
• 27:09
  pretty,
• 27:10
  pretty
• 27:10
  sweet.
• 27:11
  Whether
• 27:11
  it's
• 27:11
  worth
• 27:11
  $8
• 27:12
  million,
• 27:12
  who
• 27:13
  knows?
• 27:13
  I'm
• 27:13
  sure
• 27:14
  Pokemon
• 27:14
  can
• 27:14
  stand
• 27:15
  that.
• 27:15
  Yeah.
• 27:16
  Yeah.
• 27:16
  The
• 27:16
  other
• 27:16
  One
• 27:17
  that
• 27:17
  hit
• 27:18
  the
• 27:18
  super
• 27:18
  roll
• 27:18
  ads
• 27:18
  was
• 27:19
  Minions
• 27:19
  and
• 27:19
  Monsters.
• 27:20
  That
• 27:20
  was
• 27:20
  the
• 27:20
  one.
• 27:21
  Yes.
• 27:21
  Great
• 27:21
  trailer.
• 27:22
  Did
• 27:22
  you
• 27:22
  like
• 27:22
  the
• 27:22
  trailer?
• 27:23
  Ah,
• 27:23
  it's
• 27:24
  Minions.
• 27:24
  Like,
• 27:25
  it's
• 27:25
  at
• 27:26
  their
• 27:26
  best.
• 27:26
  I
• 27:27
  don't
• 27:27
  know.
• 27:27
  They're
• 27:27
  just
• 27:27
  so
• 27:28
  daft.
• 27:28
  I
• 27:28
  mean,
• 27:29
  what,
• 27:29
  like,
• 27:30
  what's
• 27:30
  not.
• 27:30
  What's.
• 27:30
  What's
• 27:31
  never
• 27:31
  not
• 27:31
  to
• 27:31
  like
• 27:32
  about
• 27:32
  the
• 27:32
  Minions?
• 27:32
  You
• 27:33
  know
• 27:33
  what
• 27:33
  I
• 27:33
  mean?
• 27:33
  They
• 27:33
  were
• 27:34
  meeting
• 27:34
  monsters.
• 27:34
  There
• 27:35
  were
• 27:35
  some
• 27:35
  cute
• 27:35
  ones.
• 27:35
  There
• 27:35
  were
• 27:35
  some
• 27:36
  funny
• 27:36
  ones,
• 27:36
  like.
• 27:37
  Yeah.
• 27:37
  Oh,
• 27:38
  it's
• 27:38
  just
• 27:38
  minion
• 27:39
  energy.
• 27:39
  Like
• 27:39
  you.
• 27:40
  It's
• 27:40
  always.
• 27:41
  It's
• 27:41
  always
• 27:41
  welcome
• 27:42
  in
• 27:42
  my
• 27:42
  heart.
• 27:42
  It's
• 27:42
  always
• 27:42
  welcome
• 27:43
  in
• 27:43
  my
• 27:43
  house.
• 27:44
  Yeah,
• 27:45
  no,
• 27:45
  I
• 27:45
  thought
• 27:46
  I.
• 27:46
  I
• 27:46
  would.
• 27:47
  I
• 27:47
  went
• 27:47
  into
• 27:48
  watching
• 27:48
  it
• 27:49
  a
• 27:49
  little
• 27:49
  bit
• 27:49
  jaded,
• 27:50
  given
• 27:50
  that
• 27:50
  we're
• 27:50
  a
• 27:50
  few
• 27:51
  minion
• 27:51
  movies
• 27:52
  in
• 27:52
  now,
• 27:52
  but
• 27:52
  actually,
• 27:53
  really,
• 27:53
  like,
• 27:54
  I
• 27:54
  think
• 27:54
  they've
• 27:55
  taken
• 27:55
  it
• 27:55
  in
• 27:55
  a
• 27:55
  really
• 27:56
  fun
• 27:56
  direction.
• 27:56
  Yeah.
• 27:57
  Which
• 27:57
  is
• 27:57
  good.
• 27:58
  Yeah.
• 27:59
  But
• 27:59
  another
• 27:59
  one
• 27:59
  that
• 28:00
  can,
• 28:00
  yeah,
• 28:00
  afford.
• 28:00
  Afford
• 28:01
  the
• 28:01
  price
• 28:01
  tag
• 28:01
  of
• 28:02
  the.
• 28:02
  Of
• 28:02
  the
• 28:02
  media
• 28:02
  space
• 28:02
  and
• 28:03
  stuff
• 28:03
  like
• 28:03
  that,
• 28:03
  which
• 28:03
  is
• 28:03
  an
• 28:04
  interesting
• 28:04
  one.
• 28:04
  And
• 28:04
  actually,
• 28:05
  Andy,
• 28:05
  yourself,
• 28:06
  myself,
• 28:06
  are
• 28:06
  doing
• 28:06
  a
• 28:06
  panel
• 28:06
  at
• 28:07
  Kids
• 28:07
  Screen
• 28:07
  that
• 28:07
  looks
• 28:08
  at,
• 28:08
  you
• 28:08
  know,
• 28:08
  launching
• 28:09
  a
• 28:09
  franchise.
• 28:09
  The
• 28:09
  early.
• 28:10
  The
• 28:10
  early
• 28:10
  stages,
• 28:11
  we're
• 28:11
  talking
• 28:11
  about
• 28:12
  Betty
• 28:13
  buys.
• 28:13
  It
• 28:13
  comes
• 28:13
  from
• 28:13
  jam
• 28:14
  media.
• 28:14
  And
• 28:14
  this
• 28:15
  question
• 28:15
  of,
• 28:15
  you
• 28:16
  know,
• 28:16
  how
• 28:16
  do
• 28:17
  you
• 28:17
  launch,
• 28:17
  how
• 28:17
  do
• 28:17
  you
• 28:17
  build,
• 28:18
  how
• 28:18
  do
• 28:18
  you
• 28:18
  get
• 28:19
  to,
• 28:20
  you
• 28:20
  know,
• 28:20
  be
• 28:21
  able
• 28:21
  to
• 28:21
  justify
• 28:21
  a
• 28:21
  Super
• 28:21
  bowl
• 28:22
  ad
• 28:22
  or
• 28:22
  a
• 28:22
  Macy's
• 28:23
  Day
• 28:23
  Parade
• 28:23
  kind
• 28:24
  of
• 28:24
  float
• 28:24
  or
• 28:24
  whatever
• 28:25
  is
• 28:25
  part
• 28:25
  of.
• 28:25
  Part
• 28:26
  of
• 28:26
  that.
• 28:26
  Part
• 28:26
  of
• 28:26
  that
• 28:27
  conversation,
• 28:27
  which
• 28:27
  would
• 28:27
  be
• 28:28
  interesting.
• 28:28
  Patient
• 28:29
  capital.
• 28:30
  Very
• 28:30
  patient
• 28:31
  capital.
• 28:34
  Given
• 28:34
  that
• 28:34
  what
• 28:34
  Minions.
• 28:35
  Gosh,
• 28:35
  Minions
• 28:36
  must
• 28:36
  be.
• 28:36
  When
• 28:36
  did
• 28:37
  Despicable
• 28:37
  Me
• 28:37
  come
• 28:38
  out?
• 28:38
  That's.
• 28:38
  That's
• 28:39
  going
• 28:39
  to
• 28:39
  be
• 28:39
  coming
• 28:39
  up
• 28:39
  for
• 28:40
  20
• 28:40
  years,
• 28:40
  surely.
• 28:41
  Oh,
• 28:41
  my
• 28:41
  gosh.
• 28:41
  Really?
• 28:42
  I
• 28:43
  know
• 28:43
  that
• 28:43
  we
• 28:43
  are
• 28:44
  old.
• 28:46
  I'm
• 28:46
  just
• 28:46
  looking
• 28:47
  it
• 28:47
  up.
• 28:47
  Despicable
• 28:48
  Me.
• 28:54
  Do
• 28:55
  you
• 28:55
  have
• 28:55
  the
• 28:55
  drum
• 28:55
  roll,
• 28:55
  Andy?
• 28:58
  2010.
• 28:58
  We're
• 28:59
  okay.
• 28:59
  It's
• 29:00
  still
• 29:00
  only
• 29:00
  a
• 29:00
  2010.
• 29:02
  Wow.
• 29:03
  Oh,
• 29:03
  my
• 29:03
  gosh.
• 29:04
  We
• 29:05
  might
• 29:05
  still
• 29:05
  be
• 29:05
  doing
• 29:05
  this
• 29:05
  podcast
• 29:06
  when
• 29:06
  it
• 29:06
  turns
• 29:06
  20,
• 29:06
  though,
• 29:07
  you
• 29:07
  guys.
• 29:13
  Awesome.
• 29:13
  Good
• 29:13
  stuff,
• 29:14
  right?
• 29:14
  Wow.
• 29:15
  That's
• 29:16
  all
• 29:16
  the
• 29:17
  all
• 29:17
  for
• 29:17
  this
• 29:17
  week.
• 29:18
  And,
• 29:20
  Andy,
• 29:20
  I'm
• 29:20
  going
• 29:20
  to
• 29:20
  leave
• 29:21
  it
• 29:21
  to
• 29:21
  you.
• 29:21
  I
• 29:21
  always
• 29:21
  think
• 29:21
  that
• 29:21
  I
• 29:22
  can
• 29:22
  do
• 29:22
  the
• 29:22
  sign
• 29:22
  off
• 29:22
  and
• 29:22
  then
• 29:22
  I
• 29:23
  go
• 29:23
  blank.
• 29:24
  I'm
• 29:24
  sure
• 29:24
  you
• 29:24
  can.
• 29:26
  Okay,
• 29:27
  I'll
• 29:27
  do
• 29:27
  the
• 29:27
  sign
• 29:27
  off.
• 29:28
  So,
• 29:28
  yeah.
• 29:29
  So
• 29:29
  thanks
• 29:29
  very
• 29:30
  much
• 29:30
  for
• 29:30
  listening
• 29:30
  everyone,
• 29:31
  and
• 29:32
  please
• 29:33
  like
• 29:33
  and
• 29:33
  subscribe.
• 29:35
  You
• 29:35
  can
• 29:35
  find
• 29:35
  us
• 29:35
  on
• 29:36
  all
• 29:36
  of
• 29:36
  the
• 29:36
  usual
• 29:37
  places
• 29:37
  that
• 29:37
  you
• 29:37
  listen
• 29:38
  to
• 29:38
  your
• 29:38
  podcast
• 29:38
  or
• 29:39
  watch
• 29:39
  us
• 29:39
  on
• 29:39
  YouTube
• 29:40
  or
• 29:40
  check
• 29:40
  out
• 29:40
  our
• 29:41
  substack
• 29:41
  newsletter
• 29:42
  and
• 29:43
  we
• 29:43
  will
• 29:43
  see
• 29:44
  you
• 29:44
  guys
• 29:44
  next
• 29:45
  week.