Media and Money

Posts Tagged ‘Eric Schmidt

By Richard Waters in San Francisco and Matthew Garrahan in Los Angeles for Financial Times

YouTube is finally on track to turn its first profit for parent Google, thanks mostly to two forms of online advertising that the popular online video site once largely scorned, according to executives at the internet search group.

The turnround in YouTube’s fortunes has become apparent in recent weeks, in spite of continued weakness in the broader online advertising market that depressed Google’s latest quarterly earnings, they added.

“We’ve been doing the business reviews and something fundamental has changed,” said Eric Schmidt, Google chief executive, in an interview with the Financial Times. “That is new, even compared to three months ago.”

Putting YouTube in the black would be an important turning point for Google. The $1.65bn it paid for the company two years ago was seen as a risky bet, particularly given accusations from media companies that YouTube turned a blind eye when their content appeared on the site.
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increase in earningsEconomic experts say the recession is over. I sure hope so, but I rather be patient before I start popping bottles. Regardless, here is a bit of good news to send you into the weekend. Take a look at which companies posted an increase in earnings for quarter two:
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Rupert Murdoch, News Corp CEO walks outside the during the Sun Valley media conference in Idaho July 9, 2009.

Rupert Murdoch, News Corp CEO walks outside the during the Sun Valley media conference in Idaho July 9, 2009.

I am starting to wonder what will come from this year’s Allen and Co.’s annual media summit. What progress-if any- has been made that will create opportunities for media professionals across this country? The following statements from the top media CEOs strengthens my call to action that if the top media executives can’t figure how their companies will emerge from this recession, it is time for the next generation of media professionals and companies to step up to the challenge.

Here are some of the responses from the top industry execs on the Sun Valley media summit:
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