Jeffrey Katzenberg says a big difference between television as we now know it and what it will be in the future is that shows will be shorter — a lot shorter.
“The Hollywood mogul, who has raised $600 million in venture capital to bankroll a slew of digital assets, said he’ll be focusing his cash on what he calls ‘new TV’ — mobile-friendly, bite-size videos that typically last between five and seven minutes,” The New York Post reports.
Speaking Thursday at the Cannes Lions marketing festival, Katzenberg said: “’Game of Thrones,’ game shows, reality shows, the news, talk shows — there ought to be a version rearchitected to be consumed in a different way. … That’s the next big opportunity.”
Katzenberg has reportedly been meeting with everyone from JJ Abrams to “La La Land” director Damien Chazelle to make that happen.
“Katzenberg said the economics of ‘new TV’ will be very different,” The Post reports. “People haven’t been making fortunes creating short shows for YouTube, but they could make a great living from what he termed ‘Pro-UGC,’ or professionally made user generated content, that could cost anywhere from $500 per minute to $5,000 per minute.”
By comparison, Katzenberg noted, “Game of Thrones” costs about $300,000 a minute to produce.