Media executives gathering at Allen and Co's conference last night in Sun Valley, Idaho, will look for opportunities to capitalise on an entertainment environment shaped by the shift toward mobile and online viewing. Apple's success with the iPad, iPhone and iTunes store has spawned competition from tech companies trying to catch up, from Microsoft and Google to Amazon.com.
The trick for News Corp’s Rupert Murdoch and Hollywood studios like Walt Disney is to capture new sales without destroying the traditional markets that still dominate their businesses.
“Content companies are the arms dealers in this race,” said Shahid Khan, chairman of MediaMorph, a New York- based media advisory and venture firm. “They don’t care which ecosystem wins the war as long as the Amazons and Googles are buying weapons.”
The annual gathering, held at the Sun Valley Resort in the Sawtooth National Forest since 1983, provides a relaxed setting for moguls such as Mr Murdoch, the chief executive officer of News Corp, to discuss deals and interact with tech figures, such as Facebook founder Mark Zuckerberg, whose products are shaping viewer habits.
Tim Cook, Apple’s chief executive, is scheduled to attend. – (Bloomberg)
