Piper Heitzler

Some exciting news today. Reaching viewers at the right moment and mindset is now driving big outcomes in real life metrics like sales and foot traffic. It is still early days for streaming TV. The market is beginning to adopt new technologies like the IRIS_ID. Driving outcomes, not just matching an IP, is the biggest opportunity to expand the TAM of streaming. We're focused there—growing the whole market and all of our work is around one product, the IRIS_ID. Building trust as a content data clean room for publishers, and acting as the infrastructure and enrichment service to connect publishers with the leading computer vision AI data co's in contextual, emotional, and brand suitability has been hard. But now that we're seeing the IRIS_ID available at scale, it is becoming easy for advertisers to place ads when their ad is relevant. We now know that relevance drives business outcomes. This case study is consistent with performance trends we're seeing for buyers in all of our research across top of funnel (lift, purchase intent) and bottom funnel metrics (sales, foot traffic, app downloads). For publishers and ad platforms—that means higher CPM and yields. We're excited to it on the record! Placing ads next to relevant content makes sense, but you have to prove it works. A big thank you to Jennifer Tate.,CKE Restaurants, Inc., Michael Treon, Doug Paladino and the whole PMG team for being great partners. I hear there is pretty visionary head of partnerships at PMG in Sam Bloom too ; )

49

4 Comments

An update on the open role on my team / trying to be as transparent as possible in the process. I've gotten north of 200 resumes and have finished the initial review and started reaching out to some of the top candidates. Having said that, I wanted to share some insights based on my experience that hopefully will be helpful as people continue to apply for roles in a tough job market. 1) If my only job was to hire someone, the level of interest would be exciting. But it is more overwhelming than exciting - finding the time to even review all of the resumes while still working on growth and strategy is its own challenge that many hiring managers face. And yes, I have read all of them - while I am intrigued by AI and use it in various capacities, I am not sold that it is the best solution (yet) for a people-first role where vibe and personality traits are more relevant than experience. In other words, all of that time that applicants put into their cover letters and resumes probably results in someone actually reading them still at smaller companies - and so your efforts in that regard are not unappreciated. But, be patient when you apply because the reality is, many people are trying to do their jobs while hiring for needed support - noone intentionally ghosts (I hope). 2) There are some amazing candidates out there right now. I wish I had more roles because the combination of some of the talent available right now would make for a dream team. Companies that are in position to hire - congratulations, there are some serious game-changing talents in the market right now. But also - many of these amazing candidates currently ARE employed and just not happy. Whether their company is taking them for granted, things have stagnated, etc, they are looking for a reason - and that's a lesson for all of us. 3) Don’t be afraid to humanize yourself.  Many cover letters are a synopsis of the resume, a recap of what was in the job description, or something that was written by AI (yes, there were a few of these). I know many articles / career coaches etc suggest this approach, but when a human is reading through 200+ of them, they tend to blur. I found myself drawn to more story-driven letters that showcased not just the experience, but the personality and vibe that is so important to this role.  Tell a story about you that ties in your goals and aligns with the company's, why you love this industry, and yes, why you are good at what you do. It makes you stand out and showcases that personality. 4) Connections matter. I had several people I know and trust come to me suggesting someone for the role. In a world where everyone is qualified (see point #2), that connection is even more meaningful. NETWORK! Whether people are in a position to hire you or not, talk to your connections and just stay in touch because you never know who they know and how that will matter. I'll try and open up time on my calendar next month for anyone that just wants to connect!

328

22 Comments

IFYKYK Part 3. This is how we harness chaos for brands and agencies. And it’s why we are the #1 multiscreen video provider in our markets. Spectrum Reach #builtforwhatsnowandwhatsnext

134

6 Comments

We're about to be in the thick of festival season and are seeing a lot of the same patterns from previous years more pronounced than ever before. Here are a few key ways to navigate this season -- 1. The sales cycle is later, so look for alternative metrics than year-over-year sales growth. Look up the funnel, at traffic and engagement, to give you the confidence that people are still interested just waiting to buy. 2. Ticket prices are higher and people are expecting more for it. If you focus on the overall experience, not just the lineup, it will pay dividends. You can't always control the lineup, you can always control the experience. 3. Avoid the victory lap and, in fact, work harder in the final hours of the festival. The last moments of the festival are often the most remembered, so make it count (& make the moment shareable!) 4. Referrals are everything. Artists don't sell tickets, your friends do, so don't stop marketing after the sale. Make it painfully easy for friends to rally their crew to come with them. 5. Invest in a great content team and get granular with your shot list. You only have a few days to capture all of your marketing collateral for the following year so make it count. Often times quantity is more important than quality when it comes to content (but both are important). Try out a variety of mediums -- stills, long-form video, short-form video, etc -- and see what works best. Read more on the Audience Republic blog with my super fun chat with Rod Yates here --

71

10 Comments

This project has been a journey! But as of today, we're now official in the CTV arena. A few years back we opted to pause investing capital on long form streaming content. The high price-tag to produce the content, the overload of choice for channels fighting for viewers, and the complicated system to monetize in place back then was just too much. Let’s wait and see what happens. Well, we waited, and technology delivered. Our primary value in this space, as it turns out, is our 1st Party Latino User data—collected from years and years (and years!) of loyal MundoNow users. By using AI tools to then match our users’ viewing habits to programming in the CTV ecosystem that our Latino users actually watch, we're able to ensure quality KPIs with incredible reach. Boom! Spot-on Latino Targeting. It’s a new dawn for us, one which everyone at our Mundo played a huge part to make happen. To the future!   Thanks to ALL the below outlets for the great coverage today. Broadcasting Cable https://lnkd.in/eHZic6hn   TVNewsCheck https://lnkd.in/eFDW9zeW   Editor & Publisher (E&P) Magazine https://lnkd.in/ewMMjq7v   MarTech https://lnkd.in/eApWK_X7   PRODU https://lnkd.in/egAqkTyR #CTV #Latino #MulticulturalMarketing #Streaming #AI #Hispanic #AdTec

62

13 Comments

Life update, I guess? It's been six weeks that I've been back to Bartending. I ended up needing a second bartending job to supplement my missed income. I work at Coalition Food and Beverage as well as UNCLE JACK'S FAMILY RESTAURANT, INC. Restaurant work is overwhelming at first, but I've fallen right back in the swing of things and really feel at home. My son is growing like a weed and babbling a ton. He still doesn't quite understand how to use his arms but the mom in me is okay with a few more weeks without hair pulling amirite?? I have lost 15 lbs! It's not a ton of weight but I have been working out and walking 10K steps daily since January and it took all the way until now for me to get here. I am so proud of me :) As far as my digital clutter journey, its week 3. Holy shit, the mess I made that I never realized I was making until now. I've broken Google Workspace about 1000 times now trying to mass respond to emails. No worries tho, I'm almost down to 1000 emails in my business email address. In terms of signing, I am looking for new talent, but I am taking my time this time. I laugh because I pitch brands my three influencers and have gotten a ton of no's but I know that it's not the end of the world. I'm building and rebuilding relationships that I previously had, and those things take time. I have a few "coffee" dates set up for next week and if anyone else would like to be added to next weeks coffee catch ups let me know! I'd love to talk business and brain pick what works with management these days and what doesn't! Pic of my fur baby so we don't get lost ;) #influencermanagement #influencermarketing #talentmanagement #entertainmentindustry #musicindustry

16

1 Comment

Today's TheFutureParty article written by David Ernesto Vendrell highlights how Sugar23 is enabling brands like AB InBev to create their own film/tv content. Well-written piece David - you're on to something here! Some personal thoughts... With LVMH recently launching 22 Montaigne, their own entertainment division, and other brands such as Nike wanting a bigger piece of the Hollywood action, we will undoubtedly start to see more blue chip brands making a bigger footprint in show biz. It makes sense. Brands are rethinking their ad/marketing spend once put on getting their products just placed in the movies and shows without any real trackable results. Now they want to be the producers & financiers as well. I get it. Only one tiny problem... these brands will soon fall into the same hit-driven, unsustainable business model trap which is what got the traditional Hollywood studios in the mess they are in now. Why? The cost and risk to develop original IP will continue to be the same problems for these "new players". It's just too expensive for these traditional Hollywood folks to make anything for these brands and even if something gets made, the chances of success and good stories are low, thus the "hit-driven" model the industry is so illustriously known for. It ain't gonna work. The real innovative brands are the ones thinking beyond film and television. They want actual ownership of the IP that can be market tested quickly and told not just as a movie or tv show, but also as video games, comic books, merchandising, live experiences, etc. They care about storytelling first and connecting with the hearts of audiences through time-less characters and worlds. They care about a "Silicon Valley approach" to transmedia IP development because they know it can be tied with propulsion engines for tangible product sales and new regional market share. This is why we formed Iconic Arts. We are the premier next-gen entertainment company addressing the problems of cost and risk through our interdisciplinary team of the best storytellers, film-makers, technologists and game developers. And the brands have caught on to what we're up to... Old business models with new players don't work. You can read the full TheFutureParty article here: https://lnkd.in/eBHzeeBE And don't forget to subscribe!

18

7 Comments

I ran some numbers on the Dude Perfect deal. The findings are important for creator economy investors. Here's some context... I've seen ROI analysis for a $100M investment into a family-based entertainment destination in Frisco, TX. (shout-out to my colleage Michael Booth for that) But I'm also curious to Highmount Capital's angle in being a large minority owner of Dude Perfect over a medium-term hold period. So here's my math to break it down... Dude Perfect estimates 2024 revenue of $50M Assume Highmount applies a valuation multiple of 5x forward revenue (that's a high media multiple, particularly for a forward number) Implies a $250M total valuation At $100M investment, Highmount gets 40% ownership Assume Highmount targets a 25% IRR over a 5 year hold period, which equates to a 3x gross return on invested capital (IRR targets for growth PE is 20-30%+) That means Dude Perfect needs to get to a $750M valuation Assuming multiple expansion, a 5x forward revenue multiple implies a future revenue hurdle of $150M (750 / 5 = 150) That's a 3x revenue increase from 2024E...a big jump! At 40% ownership of $750M, implies $300M total value of ownership stake, or a tripling of Highmount's investment in 5 years. A 25% IRR Of note, a tripling of revenue is aggressive growth across all monetization channels, from ticketed events and advertising to consumer products and licensing. Lots of work to do. Further, that IRR target assumes there's some type of liquidity event at the end of 5 years i.e. there's a buyer of the Dude Perfect biz at $750M. Today in 2024, I can't think of a buyer with strong strategic synergy that has the funds to do that type and size of deal. Maybe possible in the future though.... What do you all think -- is this a good or bad investment? Share your POV in the comments 👇 —- I’m the founder of RockWater Industries. We do m&a and strategy advisory for media, agencies, and creator economy. My dm’s are open. #media #agency #creatoreconomy

36

12 Comments

Dude Perfect raised $100M for global biz expansion. The deal is getting lots of buzz, but our team’s math signals challenges ahead. Let’s break it down… DEAL DETAILS • $100 - 300M growth capital investment • Led by Highmount Capital • Unclear if 100% invested upfront OR draw down of commitment over time • No previous capital raised USE OF FUNDS • Hire mgmt team to expand biz • More live experiences incl int’l tour, consumer products • Grow content formats, frequency, channels, global localization e.g. animation, TV, movies, streaming • Extend brand beyond 5 founders by building talent network • New HQ in Frisco, TX as prod facility and “family-friendly entertainment destination”: – Retail store, podcasts / gaming / fan UGC spaces, trick shot tower, DP museum, mini golf, restaurants – Original plans for 3-story, 30 acre facility est to cost $100M+, 2 yrs to build COMPANY OVERVIEW: Dude Perfect • Digital-native comedy and sports media brand • Faith-based mission: “We’re about giving back, spreading joy and glorifying Jesus Christ”  • Other YouTube franchises: “Stereotypes,” “Overtime”, “Bucket List”  • Media brand also incl books, mobile games, board games and toys, and merch / retail / food and beverage partnerships • 25 current team members PERFORMANCE HIGHLIGHTS • 60M YouTube Followers, 17B views • Est 2024 revenue: $50M per DP • Est 2023 and 2022 revenue: $25M and $20M per WSJ  • Consumer product partnerships incl Nerf toy line, Columbia Sportswear • Partnered with A Parent Media co to launch a streaming service • ESPN “30 for 30” doc premiering at Dallas Int’l film festival • TV series on CMT in 2016, later aired on Nickelodeon • Alternate broadcasts for Amazon’s Thursday Night Football • 4 live nationwide tours as of 2023 ORIGIN STORY • Founded 2009 by 5 friends at Texas A&M • Cofounders = twins Coby Cotton and Cory Cotton, Tyler Toney, Cody Jones, Garrett Hilbert • Started as YT channel featuring trick shot videos INVESTOR OVERVIEW: Highmount Capital • Growth stage and middle mkt PE fund for tech, media, healthcare • Founded in 2023 by jason illian and David Hawkins • 4 team members on website + advisor • 3 team members have faith-based ties per bios • No other investments listed on website other than DP My takeaway... I really like and support the trend of increased investment into YouTubers and digital-native media brands. But as I wrote about in my 2024 State of Creator x Media capital markets reports (will link them below), investment must match market and opportunity size. To ensure good ROI, and to set good precedent for future investment into our space. The DP bet is exciting, but could be overly optimistic based on our prelim math. My colleague Michael Booth's post breaks the math down (link below). More analysis to come in my Friday newsletter. —- I’m the founder of RockWater Industries. We do m&a and strategy advisory for media, agencies, and creator economy. My dm’s are open. #media #agency #creatoreconomy

92

11 Comments

I am excited to announce officially today LOOR Distro! LOOR Distro is best summed up with two strategic goals. 1. License and distribute our artists content to create more revenue for them. 2. Share funding and viewing data with other streaming platforms so they can make safer content acquisition investments. LOOR Distro is our way of taking monetization to our artists and our platform to the next level. By using our technology and the insane amount of individual data, both in watch time and most unique to us, funding data for our pilots and TV shows, and providing it to distribution companies looking for new streaming content. We are now beginning the process of taking this information, and connecting with the distributors we've established relationships with over the years and licensing user funded projects to other streaming networks in partnership with our artists. Basically LOOR is a way for the streaming industry to analyze data from an individual pilot without having to make an entire series order on a guess. It can prove to a streaming platform that there is in fact a market for content outside of the typical niche family-friendly genre. This increases the reach of LOOR content, and creates another significant revenue stream for us and the film makers as well. But most importantly it shows other family-friendly streaming companies content and data that can reach new audiences. And we have the data, not just the gut instinct. The one thing that LOOR has, that other streaming companies do not is individual funding data. The difference between viewing data and funding data has been tremendously eye opening for us and even surprising. For example did you know young adults with children are less likely to spend their money to fund new content for their preschoolers? In most all instances subscribers fund content for themselves and their age group over that of children's content. Yet, because preschool content is usually watched on repeat as background noise throughout the day the viewing metrics have skewed the importance of this content to the paying subscriber. Causing streaming companies to spend hundreds of millions of dollars on basically background noise that's on repeat. Kids content as background noise doesn't create loyalty and increases churn. Our viewing metrics and funding metrics are able to read these conclusions. LOOR Distro is something we've been working on since we started forming relationships and building the technology. Data has always been integral to every bit of code we wrote. But it's also the result of going to film festivals and meeting with others in the creative space. Talking to distributors and learning about their inability to to test content on newer demographics without significant risk. So for now if you are a distributor, international or within the United States looking to expand your content library. Setup a time to connect with us.

32

2 Comments

Monday Media Moment 🎤 Calling all talk show hosts, podcasters, and live streamers! Ever wanted to enhance your on-camera interviews and discussions? Look no further! Elevate your skills to foster deeper connections with your guests and uncover valuable insights hidden just beneath the surface. 💡 Here are some key tips to level up your interview game and unearth the golden gems that many guests are eager to share and delve into. 🌟 #mediaskills #interviewskills #podcasthost #Talkshowhost #Mediatraining

7

2 Comments

I grew up playing snakes & ladders🐍🪜which might explain a lot. Brian Baker, SVP Board Games at Hasbro was on 🎙️ Armchair Expert Flightless Bird last week with David Farrier and they discussed the surprising origin of Chutes and Ladders as well as Candyland and Monopoly. Snakes & Ladders originated in India as a way to teach children counting, number recognition and morality lessons. The squares with ladders represented virtues and the squares with snakes represented evil - and there were more squares with snakes. The ladders represent good feelings that take you higher to nirvana and the snakes represent negative feelings that take you further away. England kept it as is: Snakes & Ladders. So why is it Chutes & Ladders in the US? Because Uncle Milton thought snakes were too scary for children so it was changed to playground equipment. The top of the board shows a child enjoying a reward while the bottom shows children engaging in mischievous behavior. Wait, so why was I playing snakes & ladders if I grew up in Michigan? Because my dad is from England. You know the saying "back to square one?" It's from this game! Honestly, I never thought of any of those things while I was playing and thought the snakes were cute, but I did grow up to be resilient, anti-corporate, a strategic thinker AND I HAVE A PET SNAKE 👀 He's a banana ball python and his name is Gordon. It's an interesting episode and has a lot of insight into branding, cultural differences, and interesting explanations behind the creation of specific games. Listen here: https://lnkd.in/gSWJBXss

18

4 Comments

Last night, I had the privilege of attending the Chicago premiere of Eno, Gary Hustwit's innovative documentary about the life and work of Brian Eno. The film, which made its debut at Sundance, showcases the power of generative and algorithmic art and music creation through the use of cutting-edge hardware and software developed by Hustwit and Brendan Dawes at Animorph. What sets Eno apart from traditional documentaries (and all other films, really) is its unique presentation. Each screening is a one-of-a-kind experience, generated in real-time by Brain One—hardware and software that create a singular edit from the hundreds of hours of footage, including Eno's personal archives. As an audience member, you become part of a shared moment that will never be replicated—fostering a profound connection with your fellow viewers. Throughout the film, I was captivated by Eno's curiosity, playfulness, passion, and commitment to exploring his craft and collaborations. His philosophy and approach to creativity resonated deeply with me as I navigate the challenges of balancing work and life while seeking meaningful creative outlets. What struck me most during my conversations with Hustwit and Eno's producer, Jessica Edwards, was their deliberate choice to avoid the term #artificialIntelligence when discussing Brain One. Instead, they emphasized the generative and algorithmic qualities that have been foundational to electronic music for decades and are central to Eno's body of work. This distinction highlights the potential for emerging technologies to create entirely new experiences without simply rehashing prior successes. Brain One's training on the documentary footage alone, rather than the entire documentary genre, exemplifies the power of focused, purposeful application of generative technologies. The result is a tool that brings people together in a shared experience so unique and specific it becomes a cherished memory for those present. The infinite permutations of Eno challenge the notion of film criticism as well. How can a reviewer or critic talk about narrative arc, audience engagement, story flow and transitions, cinematography, or mode of storytelling when the version they saw will never be seen the same way by other critics or general audiences? Each iteration must be judged on its own and that judgement is almost irrelevant to all versions—prior or future. If this is the direction in which generative technologies and algorithmic #creativity are leading us, I am incredibly optimistic about the future. Eno serves as a testament to the idea that, when leveraged thoughtfully, these advancements need not be feared as the end of human creativity, but rather explored and embraced as a means to create novel, meaningful experiences that connect us in profound ways.

41

7 Comments

What do some of Hollywood’s top grossing films this year all have in common? They’ve turned to Roblox as a key channel for activating our engaged community of fans and potential movie-goers. Variety's Kaare Eriksen spoke with Nicole Wilson Schlegel from Universal Pictures, Roblox’s Todd Lichten and Nic Hill from Sawhorse Interactive to show just how much animation is thriving in 3D immersive environments. Universal’s Kung Fu Panda 4 Obby experience saw 17M visits in a matter of weeks and is a prime example of how studios are re-thinking movie marketing to turn the Roblox community into ticket buyers. Next up? Experience “Despicable Me 4” on a Roblox screen near you before the film hits theaters July 3! Shout out to our partners at Universal Pictures, DreamWorks Animation, and Illumination for bringing some of our favorite characters like Po and Gru to the platform and to our developer partners Sawhorse Interactive and Century Games. https://lnkd.in/gipvsfJh #immersivemarketing #metaverse #metaversemarketing #filmmarketing #boxoffice #kungfupanda #innovation

80

3 Comments

According to the IAB’s annual U.S. #podcast #advertising revenue report released yesterday, #Comedy's revenue share grew by four points in the past two years, gaining nearly 300 new advertisers in Q4 2023. It overtook news and sports as one of the most popular podcast genres.   #Podcasting is projected to return to double-digit growth (12%), with revenues of over $2B this year, and on track to reach nearly $2.6 billion by 2026.

14

Can AI match this level of creative chaos? 🤔 Just stumbled upon Little Caesars' "Burn the Burns" campaign, and it's got me thinking... Could AI ever come up with something this wildly unconventional? Baking your own product over firewood carved with haters words? It's pure, unadulterated, out-of-the-box thinking. Sure, AI can analyze data and optimize campaigns, but can it capture the raw, visceral appeal of setting haters' words ablaze, then cooking pizza over them and having them eat it? This is the kind of reality TV-meets-social media madness that makes me love marketing. If you havne't seen it, you're welcome: https://bit.ly/3XHXy5R Little Caesars, you've earned my attention (and maybe even a pizza craving). And that Webby award? Well-deserved! 🍕🔥 #marketing #creativity #AI #LittleCaesars #WebbyAwards

2

Film and TV studio A24 has secured a new round of funding led by Josh Kushner’s investment firm Thrive Capital. In connection with the investment, Kushner will join the board of directors for A24, best known for such films as “Civil War,” “Everything Everywhere All at Once,” “Moonlight” and “Uncut Gems,” and TV series “Euphoria,” “Beef,” “Ramy” and “The Sympathizer.” Financial details and exact figures were not disclosed by A24 and Thrive Capital, but sources confirm to Variety the investment from Thrive Capital gives it a valuation of about $3.5 billion — a 40% increase since A24’s most recent round of funding in 2022, which was $225 million at a $2.5 billion valuation. Founded in New York in 2012 by Daniel Katz, David Fenkel and John Hodges, A24 boasts a catalog of 150 films and 50 TV series and has garnered 16 Oscars, 14 Golden Globes and 18 Emmys. A24’s business also includes 2AM, Half Magic and the Cherry Lane theater. In 2021, A24 explored a sale with a floated asking price of $2.5 billion to $3 billion. #thrivecapital #a24 #investment #venturecapital #tech https://lnkd.in/gdVi_xCv

3

After coaching 10-six figure agency owners over the last few months. These were their biggest bottlenecks: 1. They didn’t know who to trust and where to start ❌ They were stuck at $5k-$50k/m… Because they were previously listening to unvetted information on money Twitter. Or info product gurus who earn their money selling courses. 2. They struggled to sign their dream clients 😞 They were selling productised services for $1K-$3K/m to clients… Clients they didn’t enjoy working with and had a low probability of long term success. 3. They were too involved in the day-to-day 👎🏻 They were operating as a high paid freelancer instead of actually building an agency. Making it impossible to scale to 8 figures. They had no idea how to attract talent and build a high-performing team. Over the last 6 years, I’ve built a team of 100+ people at Genflow… (There were only 7 of us back when I started). We’ve generated $200M + for our clients. Now I’m teaching ambitious agency owners exactly how we did it. It’s a nice way to pass on the knowledge that I’ve gathered over the last few years to help agencies scale quickly, efficiently, and profitably. If this sounds like something that would add value to your agency, you can learn more here: https://www.agency8x.com/

46

3 Comments