CANNES– Armed with a wealth of data, Maker Studios CEO Ynon Kreiz spoke about the recent Disney acquisition of his online network and shifting viewing habits during his keynote address on Monday at Mipcom.
“Shortform is now becoming mainstream and if you look at consumption habits they’re changing rapidly — there’s a massive shift from TV to online video in general and shortform in particular. This is really the case when you talk about the ‘millennial generation’ (the 12 to 24 demos),” said Kreiz, former chairman and CEO of Endemol.
Added Kreiz, “Kids and young adults, they watch a third less television than 20-to-40-year-olds and half of what adults over 50 years old watch. It’s not that they watch more as they grow older, it’s just that they watch less as they grow younger.”
Commenting on the recent $950-million acquisition of Maker Studios by Disney, Kreiz said the U.S. major “had to do something do stay relevant in that space, in the shortform medium, and especially with millennials.”
Maker Studios today reaches over 9 billion monthly views and boasts over 550 million subscribers globally, per Kreiz.
“For Maker the opportunity was to expand our business into traditional media and leverage the global ressources of the Disney company which has great assets and a great sales force on the ground coming to this market,” explained Kreiz, who also pointed out the combined reach between Maker and Disney in America ranks third behind Google and Facebook.
Kreiz argued Maker Studios was on top of its game. “Everyone is running after millennials and millennials are running after us because we have something they really want, which is great content.”