Next New Networks CEO to Step Down
Herb Scannell, the old media guy who got it, will announce today that he is stepping down as CEO of Next New Networks when the company finds a replacement. Apparently NNN needs someone more operational, whereas Scannell will be able to continue doing the big-picture thing from the chairman’s seat.
Scannell was previously vice chairman of MTV Networks and president of Nickelodeon Networks. For a flashback, see our first interview with him from March 2007: Ping Pong at Next New Networks.
Next New Networks has some $23 million in funding from Goldman Sachs, Velocity Interactive Group, Spark Capital, Saban Media Group and Bob Pittman.
Scannell explained the chief executive change in a blog post today as a shift away from video to web communities:
Thus far, we’ve been video-centric, built our network model, and got distribution and advertising up and running. Now, I want to see us go beyond video by building up our web capabilities in key categories, and move the company to make our sites and new offerings even more robust for communities to gather and interact. Hence, I plan on bringing in someone as CEO who has “been there, done that” in building a web business, and who will work with me as Executive Chairman.
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This is not surprising. The idea of NNN sounded questionable from the get-go. I was shocked when they got their first 8million.
If they ever had a strategy for building verticals, they never showed it. They hopped on what’s hot for the day (barely political, epic fu) but whats hot in online video lasts for about a day. It doesn’t scale and very, very, very few make money. Ask a ninja made enough for the creator to have a decent living for a few years, but there aren’t enough Ask a ninjas out there for a $3 million investment, let alone in the 20’s.
If content is king (which it isn’t), NNN would be a serf.
not surprised on June 13th, 2008 at 1:30 pm - Permalink
I’m a freelance producer who’s worked with BarelyPolitical.
That disclosure out of the way, BarelyPolitical’s ‘day’ has lasted a year so for. Currently they have the #1 video on YouTube and like 50million views in the last year.
Lee Stranahan on June 13th, 2008 at 2:53 pm - Permalink
[...] video network Next New Networks isn’t in the exactly same space, but CEO Herb Scannell also said he was resigning from that role today. Like just about everything, do CEO resignations come in threes? They just [...]
Another Video CEO Out, This Time at On2 Technologies « NewTeeVee on June 13th, 2008 at 3:49 pm - Permalink
Lee you are full of sh*T and you are inflating your numbers. According to TubeMogul, they barely touch 44 million views. And they do NOT have the number#1 video on YouTube. Their highest viewed video “I Got a Crush on Obama” has less than 9 million views and the top 100 all have close to 20 million. #1 pfftt…who are you lying to? Get your numbers straight boy.
SlickDealer on June 13th, 2008 at 5:14 pm - Permalink
Lee, why are you freelance since barley political is so successful? And what are barely political’s plans after the election? Or what will they do when they don’t have a once-in-a-lifetime political star like Obama? More “girls?” Yeah, the public will eat that up for years to come–nobody will grow tired of it.
Saying the popularity of content creators like BP last about day was a figure of speech, but what is not a figure of speech is that barely political has already peaked. NNN can’t count on them to bring them any money. Fortunately for you, BP didn’t take over 20 million in funding, so even the your job at BP won’t last, you’re not in nearly in as bad of a place as the investors of NNN.
not surprised on June 13th, 2008 at 7:48 pm - Permalink
[...] but when you hear about them in the span of a few hours, as I did on Friday, they glom together. Herb Scannell of Next New Networks said his company would be better served by someone more web-oriented; Mollie Spilman deferred to [...]
Internet’s Least-wanted Gig: Online Video CEO - GigaOM on June 18th, 2008 at 2:00 am - Permalink
[...] but when you hear about them in the span of a few hours, as I did on Friday, they glom together. Herb Scannell of Next New Networks said his company would be better served by someone more web-oriented; Mollie Spilman deferred to [...]
Oyun indir on July 28th, 2008 at 7:36 am - Permalink
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Next New Networks Finds CEO Replacement « NewTeeVee on September 16th, 2008 at 5:00 am - Permalink