'Social video an emerging medium for TV show promos'

Penske Media Corporation (PMC) has grown into 22 websites reaching 119 million monthly readers in a span of just 10 years. PMC Studios, which runs ENTV – the largest funded entertainment channel on YouTube – is one of the internet’s dominant digital studios. In an interview with DNA, its founder and CEO Jay Penske says his journey thus far has not just showed him the power of the internet, but also the power of content – particularly when it is delivered on the right platforms. Excerpts:

Can you elaborate on your decision to acquire Variety from Reed Elsevier?
Variety is the foremost global brand for the entertainment industry. I plan to rapidly expand Variety’s readership of executives, leaders, moguls, and trailblazers running the world’s most influential film, television, media, and advertising companies. And as digital media continues to flatten the world, Variety needs to engage with new global readers who are having an even greater impact.

What are your plans for the Indian market?
When PMC’s Board discussed options and potential partners, no name or corporation was ranked any higher than Subhash Chandra and Zee TV. Today, our joint venture with Zee TV (India.com Media Ltd) has 11 growing brands that we publish digitally in the India marketplace — they cover everything from breaking news to education, cricket, Bollywood, autos, tech/gadgets, city guides and careers. It has become the second-largest digital media business in India in less than two years and we believe with further investment and Zee TV’s fantastic content we will only accelerate our ascendancy.

Could you share any interesting trends in digital media?
The two most interesting trends are ‘social sharing’ and what can only be described as ‘social television/social video consumption’. Though still early in its growth, social video consumption, or social television, has quickly surpassed talking, tweeting, and texting about the programme during the show. The interactivity of this consumption continues today mostly at the voting level of social consumption and then is passed on to users helping guide storylines and shape the content throughout the programme. Though it’s still uncertain how much that interaction will affect the ratings of the shows, We’ll see more and more socially integrated TV shows over the next 12-18 months.