Implementing Product Innovation Through Existentialism

Giri Coneti, Director, Youth & Music Digital Media Products, International Markets

@giriconeti

Large media companies should strive to move at the speed of start ups. The cost of failure is small compared to the prize of creating blockbuster customer engagement

International Digital Media @Viacom • Regional clusters with product, tech, ad sales &

marketing teams representing South & North Europe, UK & AU, Latin America and Asia

• Localized Digital media offerings but built on core platform products

• Over 200 web & mobile properties

The Evolving Landscape• The pivot (that paid off) to reality shows like 16 &

Pregnant, Teen Mom and Geordie Shore• ..But aren’t the young people/ generation Z/

swipe generation kids now hooked to Spotify, Snapchat, Twitter and Instagram?

The Evolving Landscape• Young people do watch TV, just not TV the way

previous generations did• ..and when they do watch TV, they are watching,

listening, chatting and sharing on multiple screens

Three Core Ideas For Leadership in Product Innovation

1. Re-invent and disrupt your domain 2. Partner with start ups3. Leverage Open Innovation

1. Re-invent & Disrupt (Lessons From Non-Digital Space)

• P&G’s 2013 blockbuster sales of Tide Pods – Same detergent, packaged differently but priced higher– Consumers will pay more to prevent overuse

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1. Re-invent & Disrupt (Lessons From Non-Digital Space)

• 3M Post-it notes: An accidental discovery while creating an adhesive– From classic to index/flags to dispensers

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1. Re-invent & Disrupt(Lessons From Digital Space)

• Airbnb – leaders in the p2p accommodation sharing business– Reduce friction in the key

handoff process– Airport pick ups and

house cleaning

1. Re-invent & Disrupt(Lessons From Digital Space)

• Google’s balloon powered internet (Project Loon) & acquisition of 8 robotics companies in the recent months– Consumer data of remote

communities – Mapping inaccessible terrains

1. Re-invent & Disrupt (for us)

• Consumption of music has evolved– Streaming service has replaced downloads– The ‘Mixtape’ culture is alive and kicking - Playlists

are social– Fans seek curation together with Artist discovery – Fans are fiercely loyal to their bands

1. Re-invent & Disrupt(Adapting ‘Minimum Viable Product’ )

• Derive intelligence (A/B Testing, Heatmaps, Google analytics)

• Start Sprinting• Iterate • A beta version of the product• Recruit external testers • Gather data and iterate again• My Nick Junior

2. Partner with Start-ups • Our audiences and fans are constantly

discovering new trends. The journey from Facebook to tumblr to Snapchat.

• Media Tech Startups are always thinking of a better ways to engage with your content

• Reduces the time to market

2. Partner with Start-ups • So the next time you get an unsolicited LinkedIn

message from an upstart, pay attention to what they are offering

• It’s a win-win situation– They borrow your brand/ case study– You pilot a new feature for a negligible cost– If the user engagement data is encouraging, we

monetize

2. Partner with Start-ups• Twitter Amplification of LIVE moments • Bracketed voting • User generated video remixes/ mashups• LIVE video social engagement • Gamification• Smart music experiences

3. Leverage Open Innovation - Proven models

• Cast a wide net for problem solving & creativity

3. Leverage Open Innovation - Proven models

• Take advantage of a community of creators

3. Leverage Open Innovation - Proven models

• An Internal Incubator model– Samsung (NYC and Palo Alto)– Barclays (London), Sprint Mobile (Kansas City)– Google X & Moonshot ideas

3. Leverage Open Innovation (for us)

• Innovation through core competence centers– Southern Europe focuses on mobile, over the air

products– Northern Europe focuses on Engineering, Design and

Integration with linear Television– Latin America – social media and blogging– New York HQ – Platform Product integration and

scalability (for various International markets); innovation around key events like the MTV EMA

3. Leverage Open Innovation - Hackathons

• Set a problem solving theme (example: innovate online video consumption experience)

• Team composition – Resources who have never worked together– Drawn from disparate functional & technical areas (a

designer, a bio-statistician and a database architect)

Core Ideas Re-cap & Product ValueRe-invent and disrupt your domain– First Mover Advantage

Partner with start ups– Cheapest customer engagement data

Leverage Open Innovation– International development ensures scalability– Early alpha & beta testing; quick iterations

Parting Thought on Product Existentialism