Great newsletter! Mergings are shortcuts to defensive business. The more we see them the more is clear how the legacy media is collapsing. The one benefiting are sure shareholders but the success of global player like YouTube or Netflix says other: adertisers go where audience engage not where legacy media wants. So this is the big shift they should understand. In my experience of big merging there is another underestimated point as we were talking with Evan in Milan on thursday: big company cultures colliding. This is an economic process more than an housekeeping matter. Great point to highlight!
Argh a typo in today’s newsletter 😅
Great newsletter! Mergings are shortcuts to defensive business. The more we see them the more is clear how the legacy media is collapsing. The one benefiting are sure shareholders but the success of global player like YouTube or Netflix says other: adertisers go where audience engage not where legacy media wants. So this is the big shift they should understand. In my experience of big merging there is another underestimated point as we were talking with Evan in Milan on thursday: big company cultures colliding. This is an economic process more than an housekeeping matter. Great point to highlight!
The culture shock is clearly making consolidation harder. That and heavy processes 😅
Exactly. Now the TAM is small I think. Free has a clientele of high tech fans so could work.