Abu Dhabi: A new broadcast channel in the region was fortunate enough to get free advice from Microsoft founder Bill Gates for its investment strategy on broadcast versus new media at a public forum.
Gates advised the new channel to invest 70 per cent in broadcasting and 30 per cent in new media but cautioned that this ratio would be the other way round in the next decade.
He was answering a question from the audience after delivering the keynote speech on ‘Global Development’ at the first day of Abu Dhabi Media Summit on Tuesday in the capital.
One man introduced himself as an executive of a new broadcast channel in the region and asked Gates for ‘free advice’ as he knows better about transformation in the media scene.
Gates said despite the growth of the internet, accessing television was still cheaper than the web. He pointed out that monthly fees for high-speed internet connection was still costlier than television channels.
And people have to spend further on devices to access internet, he said. So, he said, it will be wise to invest 70 per cent in broadcast media and 30 per cent in new media. But Gates cautioned that this ratio may be other way round in the next decade because of the potential growth of internet. Ari Emanuel, Co-CEO of WME Entertainment also highlighted the dominant role of broadcast media in the current media scene.
“Broadcasting is the only way to get a huge audience,” Emanuel said at a session titled ‘Fireside: Hollywood vs Silicon Valley’ at the summit. He said billions of dollars are spent on broadcasting across the globe. “It is still a fantastic business”.
He was answering a question from the audience about the role of broadcast media, after being interviewed by Conor Dignam, group editor of Screen/Screen International.