In the show, ‘Taking Stock’ on BloomBerg TV, anchor Pimm Fox shared an interview with David Sable, the Global CEO of Y&R, a global marketing communications company, with ‘Market Makers’ anchor Stephanie Ruhle, at the Cannes Creativity Conference.
According to Sable, what he likes about advertising is simplicity and the ability to tell great stories. He said:
“I love it that everybody from Facebook Inc. (NASDAQ:FB), to DreamWorks Animation Skg Inc. (NASDAQ:DWA) to Twitter Inc. (NYSE:TWTR) is running courses on storytelling.”
He added that today the advertising industry which was looking as if it was written off is back. In order to prove his point, Sable said that companies like Facebook Inc. (NASDAQ:FB), Pinterest, Twitter Inc. (NYSE:TWTR), etc. need advertising very much to monetize.
“Just look at the news channels, look at the news media. So you guys took a huge hit because it’s believed that everybody gets their news from bloggers and Twitter,” Sable stated.
He added that whenever people need some real kind of information, they go to the more credible sources instead of the traditional sources.
He also mentioned that there was always a need for real time news, be it from the newspapers or the traditional radio and the only difference today is that instead of the evening 6.30 pm news, broadcasters would have to look for what would add value at 6.30 pm to viewers i.e. instead of breaking news, it may be an analysis, an expose, etc.
“The need for content, is just a question of timing, it’s a question of attitude, it’s a question of when and where I am going to see it.”
Sable considers that youngsters in the industry today don’t need to learn coding, etc. but instead need to read the Koran, the Bible, the Iliad, etc. Sable feels that youngsters need to ask themselves the question that why are these stories still important after several thousand years of them being written.
In a nutshell, Sable very strongly believes that the need for storytelling will never die, and the need will always be there in some form or other.
Fox Point Capital Management, run by Charles Anderson trimmed its stake in Facebook Inc. (NASDAQ:FB) by 33% in the first quarter of 2014 to 250,000 shares. John Thaler’s hedge fund Jat Capital Management upped its stake by 242% during the same quarter to 4.35 million shares.
Andor Capital Management, run by Daniel Benton holds 4.5 million shares of Twitter Inc. (NYSE:TWTR), currently valued at $210.02 million.