Sina Technology News Beijing time on the evening of July 1, it is reported that next week, technology and media industry executives will gather in Sun Valley, Idaho, to attend the Allen&Co Media Conference, which will be the first gathering since 2019.
At present, these companies are at the crossroads of their respective industries. Most entertainment media are in the process of transition to streaming media, and companies are scrambling for advantage. While the technology giants confront their competitors, they also struggle with antitrust regulators on multiple fronts.
These developments are sure to be the focus of attention at the party next week. The biggest question is: will Apple Inc CEO Tim Cook (Tim Cook) and FacebookCEO Mark Zuckerberg (Mark Zuckerberg) eat together? It is well known that the two companies are engaged in a fierce battle over Apple Inc's new privacy policy because Apple Inc's changes threaten Facebook Inc's advertising business.
Two other notable figures are Microsoft Corp CEO Satya Nadella (Satya Nadella) and Alphabet Inc-CL C CEO Sandal Pichai (Sundar Pichai), whose companies have recently quarreled over a variety of issues, including Microsoft Corp's concern that one of Alphabet Inc-CL C's advertising technology tools has damaged Microsoft Corp's online advertising business.
In addition, observers are likely to track the upcoming meeting of Shari Redstone, chairman of Viacom CBS (ViacomCBS). In the current wave of media consolidation, Redstone's TV company is one of the few companies that have not yet partnered with larger companies.
In addition, attention is likely to focus on Netflix, which will be attended by co-CEO Reed Hastings (Reed Hastings) and Ted Sarandos (Ted Sarandos).
Netflix has grown into a video streaming giant without acquisitions, but now most Hollywood studios have launched their own streaming services and no longer license too many shows to competitors such as Netflix.
Amazon.Com Inc responded to this strategic shift by buying MGM. Netflix could do something similar: it has approached Viacom CBS in the past about buying Paramount Pictures (Paramount Pictures).
Although Viacom CBS could not sell the studio alone, Redstone was willing to sell Viacom CBS or form a joint venture, according to people familiar with the matter.
Sun Valley event
The Allen & Co Sun Valley Conference has been a regular event in the media industry for decades. Some attendees, such as Rupert Murdoch (Rupert Murdoch), have been attending since the early days. For many people, the meeting is a social gathering point.
This year is different. First of all, family members were not invited because of the epidemic. In previous years, participants would bring their spouses and children to participate in activities such as rafting and tennis.
Still, many familiar faces will return to the Sun Valley, including James Murdoch, former CEO of Fox, Bobby Kotick, CEO of Activision, David Zaslav, CEO of Discovery, Jeffrey Katzenberg, the veteran Hollywood tycoon, Sam Altman, investor and entrepreneur, and Roger Goodell, president of NFL.
Potential cooperation and mergers and acquisitions
For technology executives, the meeting comes as antitrust investigations into large technology companies erupt around the world. This may lead to some interesting discussions, whether at formal meetings or during meals.
For media industry executives, the gathering is also an ideal place to discuss how to cooperate in streaming media. This is a top priority for established entertainment companies that are trying to compete with giants such as Netflix and Walt Disney Company.
One possible partnership is between Comcast Corp's streaming service Peacock and Viacom CBS's Paramount+, according to people familiar with the matter.
Comcast Corp owns British Sky TV (Sky), which has operations throughout Europe. Viacom CBS operates several cable channels in Europe. As a result, the cooperation between the two companies will put them in a better position to compete with larger competitors.
Meanwhile, telecoms executives, such as Verizon Communications Inc CEO Hans Westberg (Hans Vestberg), are also likely to be involved in these negotiations. Verizon Communications Inc has marketing agreements with Walt Disney Company and Discovery to provide free streaming services to mobile phone users for several months.
Other potential buyers of entertainment assets include game companies. These game companies witnessed a surge in users during the epidemic and are looking for new ways to acquire and retain players. Most notably, CEO Kotick of Activision has expressed interest in getting more involved in the video business, according to people familiar with the matter.