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Mayor Michael R. Bloomberg, Deputy Mayor for Economic Development Robert C. Lieber, Economic Development Corporation President Seth W. Pinsky, and Mayor’s Office of Film, Theatre and Broadcasting Commissioner Katherine Oliver launched MediaNYC 2020, a program to address the economic challenges facing the media industry. MediaNYC 2020 will convene a series of workshops and panel discussions with industry leaders from print, television, and Internet media aimed at creating a better understanding of what the media industry will look like in 2020 and how the City and private sector can work together to maintain and enhance New York City’s position as an leader.
“New York City has long been a global center of media, and as the industry evolves, we want to make sure the City is well-positioned to attract and support new growth,” said Mayor Bloomberg. “As we continue to move into a digital age, we will do everything possible to help the industry capitalize on new opportunities and expand operations here in New York. The dialogue we’ve established with leaders in media, academia and venture capital will identify areas where the City can be helpful in promoting the long-term strength of the media and technology industries, which currently support more than 300,000 jobs in our City.”
“New York has always been a home for innovation in media and technology,” said Deputy Mayor Lieber. “The immense depth of talent and resources available in the City are unparalleled, and we want to make sure that we retain and grow our talent base and keep businesses here. MediaNYC 2020 will provide an in-depth look at where the industry is headed and what actions we can take to develop stronger ties with the private sector.”
New York’s media and technology sectors account for more than 300,000 jobs and $30 billion in revenues. However growth in traditional media has stagnated while new media including Internet and other digital distribution channels is growing rapidly. Although the City accounts for more than half of U.S. market share for books, magazines, broadcasting and music, it accounts for less than a quarter for digital and other new media.
“It is crucial to be convening key decision-makers in the media industry at a time of (more) significant change such as this,” said Economic Development Corporation President Pinsky. “The transition to digital production and distribution requires a new understanding of the industry to ensure that we are well-positioned both to capture job growth in new media and to create opportunities for traditional media companies to thrive in the future.”
“New York City has long been the media capital of the world, attracting talented and innovative thinkers,” said Commissioner Oliver. “As the City faces new challenges and embraces new forms of technology, the creative input garnered from these individuals during MediaNYC 2020 will prove invaluable as we look to ensure the growth of this industry in the coming years.”
MediaNYC 2020 kicked-off with a meeting of more than 75 top industry executives at Gracie Mansion on February 18. It will be followed by workshops, each composed of a set of panels in April, June, September and December. MediaNYC 2020 will culminate with the release of a strategic plan and points of collaboration between public and private sectors.
Industry leaders attending the kick-off event include Peter Price, President of the National Academy of Television Arts and Sciences Foundation; CNN President Jon Klein; Emily Rafferty, President, The Metropolitan Museum of Art; Martin Kon, Head of Global Media & Entertainment Practice and Head of New York Office, Oliver Wyman; Columbia University President Lee Bollinger; Partnership for New York City President and CEO Kathryn Wylde; Garrick Utley, President of the Levin Graduate Institute of International Relations and Commerce of The State University of New York; and Jerry Hultin, President, Polytechnic Institute of NYU.
“Through print, broadcast, cable, internet and film, New York City’s media industry has informed and entertained the world for decades,” said National Academy of Television Arts & Sciences Foundation President and CEO and MediaNYC 2020 advisory group Chairman Peter Price. “By commissioning a comprehensive study about the media industry, the City has shown that it is committed to the future success of our industry. We are all proud to be a part of the initiative.”
“The City’s important and timely study will help ensure that New York remains as a center of media and advertising in the face of tough economic challenges,” said WPP Group CEO Sir Martin Sorrell. “I’m delighted to lend my support.”
“Google is committed to the success of the media and technology industry in New York, and proud to be a part of this important study on the future of the media industry,” said Google President of Americas Operations & Senior Vice President Tim Armstrong.
“The Bloomberg Administration is tackling the challenges of recession and job loss with an aggressive strategy that will reinforce both the entrepreneurial and corporate components of the city's most important industries, beginning with media and financial services,” said Partnership for New York City President and CEO Kathryn Wylde. “These efforts will insure the continued pre-eminence of our city as a global center of commerce and innovation.”
“I look forward to engaging in a discussion with the media industry and ensuring that Columbia continues to be at the forefront of educating New York City’s media professionals,” said Columbia University President Lee Bollinger. “I applaud the City for taking leadership on this important issue.”
“As an active investor in new media initiatives, including New York-based The Huffington Post and Thumbplay, I’m encouraged that the city is convening media industry leaders to contribute towards a strategy that grows New York City as a media center in the 21st century,” said Softbank Capital Managing Partner Eric Hippeau. “We look forward to being involved.”
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