Tyler Perry & Ted Sarandos: How to break into the cultural zeitgeist | Masters of Scale Summit 2022

TL;DR

Authentic storytelling shapes culture, drives market success.

Transcript

[Applause] the last time I sat in  one of these I fell through it so just so you know I'm going to sit very carefully here well that you  made me be very care I'll take that as a word of warning word of warning word of warning word of  warning um so thank you so much for joining us um part of what this amazing waight what team  uh demonstrates in v... Read More

Key Insights

• Storytelling is crucial for cultural impact and future creation, as demonstrated by successful figures like Tyler Perry and Ted Sarandos.
• Authentic and real storytelling is vital for creating a cultural zeitgeist and cannot be manufactured or forced.
• Understanding and fulfilling the audience's needs and hunger are essential for success in both storytelling and business.
• The transition from live performances to television and film was driven by the need to reach a broader audience and tell diverse stories.
• Ownership in the entertainment industry is crucial for representation and long-term success, as emphasized by Tyler Perry's approach.
• Digital platforms like Netflix have redefined global entertainment by solving trade radius problems and scaling diverse content.
• Conventional wisdom in the entertainment industry is often outdated and needs challenging to uncover new opportunities.
• Distributed decision-making and recognizing local creative talent are key to scaling successful content globally, as shown by Netflix's approach.

Questions & Answers

Q: What motivates Tyler Perry and his team in storytelling?

Tyler Perry is motivated by the desire to tell stories that resonate with people who come from similar backgrounds as him. He aims to fulfill the hunger for representation and authentic narratives that reflect the experiences of people of color. For Perry, recognizing and addressing the audience's needs is crucial for successful storytelling.

Q: How does Ted Sarandos view the creation of a cultural zeitgeist?

Ted Sarandos believes that a cultural zeitgeist cannot be created intentionally; it emerges from authentic and genuine storytelling that resonates with audiences. He emphasizes that storytelling must be real and true to the audience, whether it appeals to a large or small population. The success of a cultural zeitgeist lies in its authenticity and quality.

Q: What challenges did Tyler Perry face in expanding his storytelling to television and film?

Tyler Perry faced the challenge of meeting the high demand for his stories while performing live shows across the country. The transition to television and film allowed him to reach a broader audience and address the need for diverse representation. Perry had to pivot from live performances to screen media to fulfill the hunger for his narratives.

Q: How did Netflix solve the trade radius problem in entertainment?

Netflix addressed the trade radius problem by mailing DVDs nationwide, allowing them to serve diverse tastes across the country. This approach eliminated the limitations of local video stores, which could not cater to niche interests due to limited geographical reach. Netflix's model enabled them to offer a wide range of content to a broader audience.

Q: What role does ownership play in Tyler Perry's approach to the entertainment industry?

Ownership is a fundamental aspect of Tyler Perry's strategy in the entertainment industry. Inspired by his father's experience as a subcontractor, Perry emphasizes the importance of owning content and production to ensure representation and control. By building his own studio in Atlanta, he created opportunities for diverse voices and challenged industry norms.

Q: How did Netflix's approach to original content surprise Silicon Valley?

Netflix surprised Silicon Valley by venturing into original content, despite being considered a tech company. The decision to create original shows like 'House of Cards' was driven by the need to secure content as studios began withholding their content to compete. Netflix's bold move to invest in original programming changed the entertainment landscape.

Q: What insights did Netflix gain from the success of 'Squid Game'?

The success of 'Squid Game' highlighted the importance of distributed decision-making and local talent recognition. Netflix's team in Korea identified the potential of the show, which had been overlooked as a movie. The global success of 'Squid Game' demonstrated that authentic storytelling transcends cultural barriers and defies conventional wisdom.

Q: How does Tyler Perry's studio in Atlanta contribute to diversity in Hollywood?

Tyler Perry's studio in Atlanta plays a significant role in promoting diversity in Hollywood by providing opportunities for underrepresented voices. By building his own ecosystem, Perry creates jobs and trains talent, preparing them for success in the industry. His efforts have contributed to increased diversity and representation in Hollywood productions.

Summary & Key Takeaways

• Tyler Perry and Ted Sarandos discuss the significance of authentic storytelling in shaping culture and driving business success. They emphasize the importance of understanding audience needs and the role of digital platforms in expanding reach.

• The conversation highlights the challenges and opportunities in breaking into new markets and the necessity of ownership in the entertainment industry. Perry's journey from live performances to building a media empire exemplifies this.

• Netflix's innovative approach to original content and global scaling demonstrates the power of digital platforms in redefining entertainment. The discussion underscores the need to challenge conventional wisdom and embrace new opportunities.