London Media Summit 2008
Leading figures from film, music, print and TV discuss the future of 'old media'
The future of 'old media' was discussed at the London Media Summit on November 24th at London Business School. Leading figures from the world of film, music, print and television gathered to discuss the impending doom predicted by many in the industry, which at times turned into a fiery debate.
Channel 4's Jon Snow controlled the proceedings, with keynotes provided by Mark Thompson, Director General of the BBC, Bill Roedy, Chairman of MTV, and Alan Rusbridger, editor of The Guardian.
Robin Carswell, Summit Chair, said "This event has demonstrated that traditional media companies, now more than ever, need an injection of fresh leadership talent if they are to survive the challenges of the future".
The need for the music industry to embrace change and new business models was outlined, while film studios appeared in a strong light, but the future of their funding came under intense scrutiny. In the TV panel the consensus was that channel broadcasters needed to change to be content producers, but the way to achieve this profitably was far from clear. A relatively gloomy picture was painted for print, with the death of local press predicted to occur within the next 6-24months.
"The bleak future that some predict for "old" media must be seen as a great opportunity for those with the passion and conviction to take risks. The changes to be made have never been bigger, or more necessary." said Nick Sallon, Co-President of the London Business School Media Club.