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Press Release -- April 15th, 2013
Source: Verizon

Metamorphosis: The Changing Face of Media & Entertainment

“We’ve never been in a better position to solve problems with technology than we are today,” said Verizon Communications Chairman & CEO Lowell McAdam during a recent keynote interview with NAB President & CEO Gordon Smith at the 2013 National Association of Broadcasters conference (NAB), the leading annual tradeshow for media and entertainment professionals.

Surging customer demand for video at any time coupled with changing technology platforms represents a tremendous opportunity for broadcasters and content owners to grow their viewership.

“If there’s one word to describe the change in our business, it would be ‘speed,’” McAdam continued.

When asked by Smith about technologies that are transforming the broadcast and broadband industries to enable content creation, management and distribution, McAdam pointed to the Verizon booth on the convention floor, which highlighted such powerful solutions as open video collaboration, digital signage, dynamic cloud and security.

McAdam also unveiled a new handheld camera to underscore how mobile technology can transform the newsgathering process in the Internet age.

“All you have to do is put a reporter on a bike, send them into a particular area with this camera in his backpack and this device will record in station quality HD and send it out over the LTE network,” he said. “We will also have smaller versions to post YouTube videos with as well.”

The interview covered a wide range of topics, including Verizon’s growth investments in 4GLTE, FiOS TV, cloud, security and machine-to-machine platforms. McAdam also discussed the rapid growth of mobile video, which he said now accounts for more than 50 percent of the traffic on Verizon’s wireless network.

“We haven’t even seen the tip of the iceberg on what we can do with video,” he noted.

Smith, a former U.S. Senator, also inquired about Verizon’s positions on an array of policy and regulatory issues impacting the industry such as the impending spectrum auction and retransmission consent for broadcasters.

On the spectrum auction McAdam said “for those who want to keep their spectrum ‘great,’ [but] we have to work together to make sure the process is transparent. There are plenty of sources of spectrum out there. It’s just a matter of finding it.”

McAdam also emphasized Verizon’s role as a partner for the broadcasting industry, saying “it’s not our intent to get in the way of the broadcasters.”

Instead, McAdam stressed that both industries can “partner and co-exist” to respond to consumer demand and drive technology innovation.

“There is an opportunity to grow the pie. I think both [Verizon and broadcast] have an opportunity to flourish,” he added.

To watch McAdam’s full presentation at NAB, click here.

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