OLD Media Moves

Bloomberg’s Smith lays out his vision

August 19, 2013

Posted by Chris Roush

Justin Smith, the new CEO of Bloomberg Media Group, sent an email on Friday to the staff about his vision for the future, and Brian Morrissey of Digiday obtained a copy.

Smith wrote:

Embrace change.
“The media industry is bifurcated into two distinct worlds: the struggling traditional segment that longs for a simpler, more profitable past that will never return; and the vibrant, entrepreneurial segment that is reinventing the industry before our eyes. The simple act of choosing to live on the new, wide-open frontier is a powerful step toward success.”

Celebrate talent.
“Because we’re in the business of making and selling ideas, talent is the ultimate driver of media success. In a digital and social world, a talented individual journalist can rival the influence and impact of the world’s greatest media brands. A brilliant marketer can dream up a creative idea that generates millions of dollars of brand value. An innovative salesperson can beat the competition by selling ideas-based programs rather than commodity advertising. World class, A+ talent is the super-ingredient for media success, and the organizations that recruit and maintain their top talent — and manage it well — will win.”

Accept uncertainty.
“Anyone who tells you they can predict the future state of media and its consumption patterns or business models isn’t being honest. No one knows where things are going and how they’ll play out. To succeed, we must accept this state of confusion and embrace the chaos. When there’s no obvious right answer, we’re forced to experiment, and examine new, sometimes uncomfortable, ideas. In media in 2013, invention, creativity and ingenuity are the currencies of success.”

Read more here.

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