[Music]
hello everyone welcome back to case
studies with the biz dog this week it’s
rotten tomatoes a lot of you been asking
what on earth you’re going to wear the
same shirt well I think this is now the
second time I’ve worn the Team Lotus
shirt
I love Lotus historical team and
everything these are all about teamwork
and we’re going to talk about the team
is the consumer this week and the
consumer having a voice and reviews puts
all consumers on the same team so that
we are smart about how we spend our
money and what no team is good without a
thank you very much there we go so after
a quick pit stop we’ll talk about Rotten
Tomatoes that’s the topic this week what
I want to look into is there’s a lot of
press going on right now about Rotten
Tomatoes how the movie industry is all
upset about it I want to take you on a
fast history of Rotten Tomatoes and show
you that an organization I got start in
a dorm room because the founder wanted
to aggregate Jackie Chan of video
reviews so you could sort out the good
Jackie Chan videos from the ones that
weren’t so good and the movies that he
was all in everybody loved them but some
of them are like steaming turds and of
them are really fun but the way kung fu
movies went they were like out every
week so this guy in his dorm room 1998
wants to get all these reviews together
so you could tell one for another he did
on a part-time basis until he gets a
couple more of his friends that went to
Berkeley Cal Berkeley which is up near
San Francisco for those of you watching
around the world it’s a very famous
University simply known as Cal and he
gets now three friends together and in
2000 it’s go time
so they go off and running and they’re
very successful they’re aggregating
reviews and suddenly people like you and
me before we spent five bucks six bucks
back in 2000 that was the average price
to go to a movie you’re checking out
Rotten Tomatoes what does everybody else
think about it because reviews were
coming up everywhere Amazon was still
kind of young and there was reviews on
books so a book that you didn’t know
anything about but it’s on a bestseller
less now you can see stars and reviews
and so reviews were becoming a staple of
the Internet economy as the consumer
comes together to rate things make
decisions on what we buy that attracted
the attention of a
of a gaming network IGN and those who
have played video games remember IGN on
one side and then a GameSpot on the
other side you would go to determine you
know which of the video games were good
and which one was going to work on it on
your gaming platform that you’re going
to enjoy and look at the ratings and
what the critics said well IGN was like
hey we got reviews of games why not also
on Rotten Tomatoes so it gets bought at
this point it’s still really independent
then something happened a year later it
gets bought by fox twentieth century fox
is part of Fox now the division that
bought it was Finn Fox interactive media
which is like all these internet and
interactive sites that related to Fox
and then one of the other things that
Fox bought was MySpace and Fox paid five
hundred and eighty million dollars in
2005 from MySpace at the same time they
went on a shopping spree but five
hundred and eighty million dollars from
MySpace damn that’s a lot of money that
went spinning down the toilet speaking
of turds if Fox owns Rotten Tomatoes how
do we depend on Rotten Tomatoes if it’s
a Fox movie is there gonna be an
invisible hand inside the server
adjusting the review that was a valid
concern but by and large most of us me
you I think others probably still
trusted Rotten Tomatoes then they were
bought by a company called Flixter about
five years later so there’s been this
long chain I’m going to show you what
happens at the end of the chain which is
really interesting then one year later
Warner buys it well that’s Warner
Brothers now comments come back up now
wait a minute one day in Flixter were
together at this time 2010 that was like
30 million monthly uniques and pretty
sure that’s a number and you can go look
it up and test me so now you go to
Warner brother Warner owns it well that
goes about five years and then Flixter
which is inside Warner because Warner
bought Flixter in flicks you’re still
operating Flixter gets bought by
Fandango so Fandango owns Flixster who
owns Rotten Tomatoes 70% of it is owned
by Comcast 30% here so there’s still two
movie theaters in there so if they’re
still excuse me movie studios movie
theaters where we go to watch so now you
have ownership among two studios so what
is all this angst in the marketplace of
how
Rotten Tomatoes is bad it’s actually
good anything that democratized is the
ability of a consumer to make a review
is a good thing would you go and get a
plumber without looking at Angie’s List
my wife wouldn’t you probably wouldn’t
would you go to a restaurant hadn’t
heard of it without looking at Yelp or
open table it’s common it’s what we do
we even make decisions about which lyft
or uber driver we get because we look at
it and say how do you get a 3.9 as an
uber driver don’t you get counseled
cancel get the next driver reviews her
everywhere and it’s how we make decision
about spending our money and use the
internet as a democratized tool to allow
us to do it but nonetheless today you’ve
got these conversations going on you
know all of this this this scuttle
Princeton some Armin what’s the same arm
in white he’s with the New York Film
Critics Circle and he said that the
internet merely is taking revenge on
individual expression wait a minute
taking revenge and individual extension
Oh what you meant to say was thanks to
the internet you can’t push a steaming
turd on an unsuspecting movie going
public
that’s what you meant to say and then
get big producers like Brett Ratner who
said that Rotten Tomatoes is the worst
thing that we have in today’s movie
culture now Brett explained that when
you reduce all the critics words to a
simple score that that’s not the full
story and there needs to be more to it
and maybe there’s some truth to that but
you know what people like us we go to a
movie and what does it cost now you go
to X to do movie grill that’s like you
know 40 bucks for two people to go to
the movie and then maybe you have a
babysitter you know you look at that and
say before I spend that kind of coin on
a movie because it’s the entire movie
night with the movie is the centerpiece
I want to know the review I want to know
what’s good or not or do I just wait for
it to come on amazon prime prime excuse
me and watch the HD x version for 10
bucks and own it so if my kids love a
Little Mermaid or any video like that or
Secretariat things you really like I can
own it forever
for 10 bucks after the fact so I think
there’s an important lesson here in the
first day
is you know aggregation of information
to build reviews is a fantastic thing
and whether you’re doing that on a
website or you’re contributing to a
website you’re contributing to a
dialogue that helps people consumers
make better decisions and I think all of
this is a good thing and I think this is
a controversy which is a result of
disruption that favors you and me
anything you do in a company you try to
build if you’re disrupting the status
quo and there’s a lot of noise in the
system if you know that you’re not doing
something inflammatory or wrongheaded or
slanderous then you’ve probably struck
the right vein because what’s happening
is the incumbents are starting the
screen and you’ve built something to
help people make better decisions and I
think that’s one of the wonderful
benefits of the Internet and if the
movie industry was so worried about this
why do they keep treating it like a
monopoly piece for more money make more
money on it treat it – here goes –
Flixter ends up at Fandango why not hang
on to it and control it and bring the
reviews together in a different way
right now you’ve got things like The
Mummy at sixteen percent on Rotten
Tomatoes destroyed its opening
box-office baywatch the remake of
Baywatch destroyed its opening weekend
it’s like a nineteen percent or
something Rotten Tomatoes I’ve got an
idea
why don’t you build a great product and
score great reviews in the movie
industry you’re making a bet and as long
as you guys in movie industry want to
sit there where you make a bet where you
pay the rock twenty million dollars a
producer six million dollars and you
make the movie you got all that money
over here and you’re sitting there
you’ve made a bet well guess what that’s
the industry you’ve chosen to live in
and the internet is the wonderful
democratized environment that we’ve
chose to live in so we can make
decisions on the products we want to see
and when we want to see them and if we
want to spend the money on them such as
your movie that’s this week’s case study
on Rotten Tomatoes I hope you give it a
fresh rating and boom thank you for
watching value tainment
please subscribe we’re on a mission to
get to a million subscribers thanks to
you until next time I’m Thomas I hope
I’ve left you better [Music]
hello everyone welcome back to case
studies with the biz dog this week it’s
rotten tomatoes a lot of you been asking
what on earth you’re going to wear the
same shirt well I think this is now the
second time I’ve worn the Team Lotus
shirt
I love Lotus historical team and
everything these are all about teamwork
and we’re going to talk about the team
is the consumer this week and the
consumer having a voice and reviews puts
all consumers on the same team so that
we are smart about how we spend our
money and what no team is good without a
thank you very much there we go so after
a quick pit stop we’ll talk about Rotten
Tomatoes that’s the topic this week what
I want to look into is there’s a lot of
press going on right now about Rotten
Tomatoes how the movie industry is all
upset about it I want to take you on a
fast history of Rotten Tomatoes and show
you that an organization I got start in
a dorm room because the founder wanted
to aggregate Jackie Chan of video
reviews so you could sort out the good
Jackie Chan videos from the ones that
weren’t so good and the movies that he
was all in everybody loved them but some
of them are like steaming turds and of
them are really fun but the way kung fu
movies went they were like out every
week so this guy in his dorm room 1998
wants to get all these reviews together
so you could tell one for another he did
on a part-time basis until he gets a
couple more of his friends that went to
Berkeley Cal Berkeley which is up near
San Francisco for those of you watching
around the world it’s a very famous
University simply known as Cal and he
gets now three friends together and in
2000 it’s go time
so they go off and running and they’re
very successful they’re aggregating
reviews and suddenly people like you and
me before we spent five bucks six bucks
back in 2000 that was the average price
to go to a movie you’re checking out
Rotten Tomatoes what does everybody else
think about it because reviews were
coming up everywhere Amazon was still
kind of young and there was reviews on
books so a book that you didn’t know
anything about but it’s on a bestseller
less now you can see stars and reviews
and so reviews were becoming a staple of
the Internet economy as the consumer
comes together to rate things make
decisions on what we buy that attracted
the attention of a
of a gaming network IGN and those who
have played video games remember IGN on
one side and then a GameSpot on the
other side you would go to determine you
know which of the video games were good
and which one was going to work on it on
your gaming platform that you’re going
to enjoy and look at the ratings and
what the critics said well IGN was like
hey we got reviews of games why not also
on Rotten Tomatoes so it gets bought at
this point it’s still really independent
then something happened a year later it
gets bought by fox twentieth century fox
is part of Fox now the division that
bought it was Finn Fox interactive media
which is like all these internet and
interactive sites that related to Fox
and then one of the other things that
Fox bought was MySpace and Fox paid five
hundred and eighty million dollars in
2005 from MySpace at the same time they
went on a shopping spree but five
hundred and eighty million dollars from
MySpace damn that’s a lot of money that
went spinning down the toilet speaking
of turds if Fox owns Rotten Tomatoes how
do we depend on Rotten Tomatoes if it’s
a Fox movie is there gonna be an
invisible hand inside the server
adjusting the review that was a valid
concern but by and large most of us me
you I think others probably still
trusted Rotten Tomatoes then they were
bought by a company called Flixter about
five years later so there’s been this
long chain I’m going to show you what
happens at the end of the chain which is
really interesting then one year later
Warner buys it well that’s Warner
Brothers now comments come back up now
wait a minute one day in Flixter were
together at this time 2010 that was like
30 million monthly uniques and pretty
sure that’s a number and you can go look
it up and test me so now you go to
Warner brother Warner owns it well that
goes about five years and then Flixter
which is inside Warner because Warner
bought Flixter in flicks you’re still
operating Flixter gets bought by
Fandango so Fandango owns Flixster who
owns Rotten Tomatoes 70% of it is owned
by Comcast 30% here so there’s still two
movie theaters in there so if they’re
still excuse me movie studios movie
theaters where we go to watch so now you
have ownership among two studios so what
is all this angst in the marketplace of
how
Rotten Tomatoes is bad it’s actually
good anything that democratized is the
ability of a consumer to make a review
is a good thing would you go and get a
plumber without looking at Angie’s List
my wife wouldn’t you probably wouldn’t
would you go to a restaurant hadn’t
heard of it without looking at Yelp or
open table it’s common it’s what we do
we even make decisions about which lyft
or uber driver we get because we look at
it and say how do you get a 3.9 as an
uber driver don’t you get counseled
cancel get the next driver reviews her
everywhere and it’s how we make decision
about spending our money and use the
internet as a democratized tool to allow
us to do it but nonetheless today you’ve
got these conversations going on you
know all of this this this scuttle
Princeton some Armin what’s the same arm
in white he’s with the New York Film
Critics Circle and he said that the
internet merely is taking revenge on
individual expression wait a minute
taking revenge and individual extension
Oh what you meant to say was thanks to
the internet you can’t push a steaming
turd on an unsuspecting movie going
public
that’s what you meant to say and then
get big producers like Brett Ratner who
said that Rotten Tomatoes is the worst
thing that we have in today’s movie
culture now Brett explained that when
you reduce all the critics words to a
simple score that that’s not the full
story and there needs to be more to it
and maybe there’s some truth to that but
you know what people like us we go to a
movie and what does it cost now you go
to X to do movie grill that’s like you
know 40 bucks for two people to go to
the movie and then maybe you have a
babysitter you know you look at that and
say before I spend that kind of coin on
a movie because it’s the entire movie
night with the movie is the centerpiece
I want to know the review I want to know
what’s good or not or do I just wait for
it to come on amazon prime prime excuse
me and watch the HD x version for 10
bucks and own it so if my kids love a
Little Mermaid or any video like that or
Secretariat things you really like I can
own it forever
for 10 bucks after the fact so I think
there’s an important lesson here in the
first day
is you know aggregation of information
to build reviews is a fantastic thing
and whether you’re doing that on a
website or you’re contributing to a
website you’re contributing to a
dialogue that helps people consumers
make better decisions and I think all of
this is a good thing and I think this is
a controversy which is a result of
disruption that favors you and me
anything you do in a company you try to
build if you’re disrupting the status
quo and there’s a lot of noise in the
system if you know that you’re not doing
something inflammatory or wrongheaded or
slanderous then you’ve probably struck
the right vein because what’s happening
is the incumbents are starting the
screen and you’ve built something to
help people make better decisions and I
think that’s one of the wonderful
benefits of the Internet and if the
movie industry was so worried about this
why do they keep treating it like a
monopoly piece for more money make more
money on it treat it – here goes –
Flixter ends up at Fandango why not hang
on to it and control it and bring the
reviews together in a different way
right now you’ve got things like The
Mummy at sixteen percent on Rotten
Tomatoes destroyed its opening
box-office baywatch the remake of
Baywatch destroyed its opening weekend
it’s like a nineteen percent or
something Rotten Tomatoes I’ve got an
idea
why don’t you build a great product and
score great reviews in the movie
industry you’re making a bet and as long
as you guys in movie industry want to
sit there where you make a bet where you
pay the rock twenty million dollars a
producer six million dollars and you
make the movie you got all that money
over here and you’re sitting there
you’ve made a bet well guess what that’s
the industry you’ve chosen to live in
and the internet is the wonderful
democratized environment that we’ve
chose to live in so we can make
decisions on the products we want to see
and when we want to see them and if we
want to spend the money on them such as
your movie that’s this week’s case study
on Rotten Tomatoes I hope you give it a
fresh rating and boom thank you for
watching value tainment
please subscribe we’re on a mission to
get to a million subscribers thanks to
you until next time I’m Thomas I hope
I’ve left you better [Music]
Please follow and like us: