IAC/InterActiveCorp Chairman Barry Diller's Media Industry Outlook for 2014
Airbnb is primarily additive. I don’t think it’s stealing much share from urban hotels. A room in someone’s house is not as valuable as a room at the Helmsley.
What will we be talking about this time next year?
In the short sweep of time—say, three to five years—this digital revolution we’ve been undergoing for 18 years is becoming the way of our lives. We now have Internet fluency among more people, and you have the kind of innovation that is the mandate of digital life. So the result is an ever-increasing velocity.
Music, having gone through its creative destruction, is now finding new legs. It’s completely transformed. Print, which is still in the middle of a long-term decline except for, I believe, magazines of a certain kind … is not yet at the point where it’s seeing any green shoots, and it will be a few years before it does. Will it? Of course it will, particularly tactile and visual delights—luxury magazines.
With video, we’re at the beginning of a transformation from closed systems—wired or satellite-driven—to open Internet systems. It’s only a question of the transition time. In the main media areas—music, print, video—this revolution will be radical for at least another 5 years, maybe 10. Out of that destruction will come new services and new ways of doing things.