Episode 49: Roy Price - ex-Head of Amazon Studios and Streaming Pioneer on the Future of the Media Business
Feb 14, 2023
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Ex-Head of Amazon Studios, Roy Price, discusses decision-making at Amazon, challenges faced by entertainment executives, and the cultural gap in the media industry with insights into the future of streaming, potential industry consolidation, and the evolution of crypto assets and digital content.
Roy Price foresaw the rise of streaming platforms before others, leveraging Amazon's existing customer base for success.
The Great Recession catalyzed the move towards online content and high-budget original productions on streaming services.
Roy Price envisions decentralized funding models powered by Web3 technology for content creation, enhancing talent empowerment and innovation.
Deep dives
Shift to Digital and Streaming
The podcast episode discusses Roy Price's foresight in transitioning from traditional studios to digital streaming platforms. Price recognized early on the impact of the internet on media consumption and the significance of platforms like Tevo in shifting control to viewers. Price's move to Amazon reflected his belief in the potential of digital video and the existing customer base that could support original streaming content.
Amazon Studios' Inception
The episode covers the inception of Amazon Studios, led by Roy Price. Amazon video was initially an idea that Price developed, emphasizing the significance of having millions of existing customers and capital for success. Price's background in consulting and early speculation on Amazon's future in digital video positioned him strategically in the creation of Amazon Studios.
Impact of the Great Recession
The podcast touches upon the impact of the Great Recession on the entertainment industry, highlighting shifts toward online content and streaming services. The discussion emphasizes how the recession influenced the emergence of social media companies and the shift towards higher-budget original content by streaming platforms.
Content Creation Challenges
The episode delves into challenges faced by entertainment executives in content creation, particularly in measuring success in the streaming world. The complexity of measuring audience reception and the shift towards subscription-based models are highlighted, reflecting a need for more effective metrics and customer-oriented content.
Future of Media and Web3
The podcast provides insights into the future of media through the lens of Web3 technology and blockchain. Roy Price proposes decentralized funding models for content creation, empowering artists and streamlining decision-making processes. His vision suggests a transformative shift towards faster innovation, increased talent empowerment, and improved content selection.
Roy Price has always been 2 steps ahead in the media world. He was the 1st employee of Amazon Video and the Head of Amazon Studios as TV and Film consumption shifted to streaming platforms. Roy built Amazon's streaming and production resources seemingly from nothing - presiding over 12 productions that won Best Series at the Emmy's and Golden Globes.
Roy is sharing his insights and predictions for the media business on his Substack, Price Point, and joined me this week to discuss.