Jeff Zucker warned a gathering of television executives in Las Vegas five years ago that the media industry was living through its version of a forest fire.
Advertising and subscription revenues were in danger of burning to the ground amid the proliferation of digital media, he said, cautioning that the industry was trading so-called “analogue dollars for digital pennies”.
“We didn’t ask for it, and it is unfortunate to live through,” said Mr Zucker, then the chief executive of US broadcaster NBCUniversal and now president of cable news broadcaster CNN Worldwide. “But if we are lucky, it may very well leave behind fertile soil, clear ground and the opportunity for robust growth.”
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