To resolve the streaming wars, the onus is on the industry to find the quickest path to a more sustainable equilibrium.To get there, assets will need to be reshuffled to diversify business models, free up cash, or even create new entities. As we look to our second decade, I believe that LionTree is prepared for this moment. 1972 (age 50-51) Palo Alto, California. He is the founder and chief executive officer of LionTree LLC, a global investment and merchant banking firm focused on media . LionTree Founder & CEO Aryeh B. Bourkoff joined CNBC's Squawk Box this morning to share his outlook for the media industry in 2023. While the creator economy clearly impacts mindshare in our attention-driven economy and is something traditional media must learn to contend with, it also creates boundless potential. Even though Top Gun: Maverick was a sequel, its star power and mastery of storytelling were stupendous. LionTree has built a successful track record by leveraging its unique insights and relationships to assist clients across its integrated product set: Investment Banking Advisory, Public Markets / IPO Advisory and Merchant Banking Investments. Throughout 2023 and beyond, we will continue to coalesce the LionTree and Kindred Media brands to serve as a resource for those in our kin. LionTree CEO Aryeh Bourkoff is a master dealmaker.. First, it leads to high spending to continuously create fresh content, a mode in which even the benefits of scalehaving hundreds of millions of global subscribersare no guarantee of sufficient (if any) cash flows. LionTree Chairman & CEO Aryeh B. Bourkoff shares his reflections and outlook for the year ahead. Compared to a record 2021, global M&A volume has decreased in 2022 but remains on a positive trajectory compared to 2020. At the same time, there will be beneficiaries of new supply chain dynamics and deglobalization trends, such as Mexico and Latin America as it relates to the West. For the Class of 2024, LionTree Advisors is now collecting resumes for our 2023 Summer Analyst program. For instance, the Biden administrations CHIPS law, along with related restrictions, serves both to hamper Chinas military-industrial rise, and to revitalize American manufacturing of a critical resource. The arrival of big tech platforms highlighted the benefits of broad distribution, established through e-commerce (Amazon), devices (Apple), or streaming built on cheap money (Netflix). And before the rapid increase of interest rates, we saw some of the largest take private activity in technology such as Vistas $17bn acquisition of Citrix and of course the Twitter take private. High proficiency in Microsoft Office suite. As Ive suggested, this growing down requires creativity, community, and capital. Corporate and political leaders understand its power well, as we see in Sam Bankman-Frieds recent media tour, clearly intended to shape public opinion in advance of what is shaping up to be a very uphill legal battle. Tech companies are engaging in accelerated workforce reductions, and the same is true for the worlds largest content producers as they also begin to moderate their growth in content expenditures beyond 2022. Would Paris Hilton Let Her Kid Be An Influencer? Office closed daily from 121pm for lunch. As Churchill said, Its no use saying, We are doing our best. You have got to succeed in doing what is necessary. The challenge is to maintain an abundant mindset, and a purposeful one, in times of scarcity. Greenhill provides its Analysts with the specialist training that gives them a strong foundation in the skills they need to begin a successful career in investment banking. We expect the growing value of sports rights to be a major theme in 2023 and beyond. One legendary media executive once said to me: When I was finding my way, we didnt even use the term entrepreneur. LIV Golf's David Feherty oddly claims Greg Norman was more recognizable than Michael Jordan in '80s and '90s Feherty left NBC in favor of an analyst job with LIV last summer You were just a person who wanted to build a business. And while I appreciate those who leverage their success and platform for meaningful causes, after many lessons we must be more careful before idolizing those who are undeserving. Lion Tree Weekly Capital Markets Dashboard Turbulent times teach us that momentum is no guarantee of stability, and hubris is as dangerous as inertia. Full Time Programs Begin your financial career as an Analyst at Stifel. Sometimes the best offense is a good defense. The just announced Microsoft acquisition of a 4% stake in the London Stock Exchange is yet another example, and representative of the sorts of transactions by strategics that I expect to see more of in 2023. And it raises a profound question: what do you choose to protect, to defend at all costs? Strong leaders are made both in and for difficult times. If the first mountain is about acquisition, the second mountain is about contribution.. If you are interested in applying, please submit your resume through the below Handshake submission. However, this once-stable foundation has been undermined by a self-directed pivot to direct-to-consumer streaming, pioneered by Netflix. This year weve seen myriad governments turn over, from the UK to Italy to Sri Lanka, and change party hands, including in Israel and Sweden, while we ponder the future in the U.S. Job posted 6 hours ago - Deloitte is hiring now for a Full-Time Deloitte Risk & Financial Advisory Analyst - Technology (Summer/Fall 2023, Winter 2024) in Milwaukee, WI. To that end, here is some of our favorite Kindred Media content from 2022: Recognizing The Patterns In Our Historical Moment with Niall Ferguson, Closed Loop Partners Ron Gonen on Sustainable Capitalism, Introducing: Listen On Purpose with Rachel Kraus, Paris Hilton and Carter Reum: Catching Up With The Original Influencer, With A Good Ass Job, Skys The Limit: SpringHills Maverick Carter, Medias Next Chapter with Malcolm Gladwell, Take-Two Interactives CEO Strauss Zelnick Hits His Stride, Tim Ferriss On Finding Success In The Uncomfortable Moments, From the Messy Middle to the Near Future with Adobes Scott Belsky, NFTs Made Easy (and Green!) Weve dealt a lot with uncertainty, leaving most with feelings of exasperation. With leadership comes responsibility, and all the consequences it may entail. Kindred Media now averages more than 1 million impressions per month. While I am humbled to be able to support my alma mater in this way, this partnership is an encapsulation of LionTrees purposewhich is to invest in assets in motion, to aid their momentum, and do so with creativity and community at the forefront. At the same time, the U.S. is reasserting its global leadership, benefitting from its role as the home of free markets and abundant capital to drive innovation (even during time of scarcity), a still strong dollar and global reserve currency (despite clear challenges), and energy and food independence compared to other regions. Comcast's stock traded up. As a result, the IPO door for growth stories is now much harder to open. Availabilities are open for our San Francisco office. If you have encountered an issue with the site, including concerns about accessibility due to a disability, pleaseshare your feedback with us. The firm has expertise in a wide range of verticals including film/TV, telecom/cable, music, sports, emerging tech and more. Shedding of non-core assets and expenditures can enable scaled players to focus on their core business and deliver value to shareholders. (They prompt us to wonder, what achievements of the future are unimaginable todayand how do we start imagining them?) This clustering of durable capital around certain thematics and industries in motion, and led by the next generation of modern industrialists, exemplifies the merchant banking model. As a summer analyst, you will have the opportunity to: Obtain a strong foundation in financial analysis through training from LionTree professionals as well as third-party providers, Have the opportunity to work on live client assignments alongside LionTree deal teams, Present financial and strategic analysis to the firms leadership during your final project, Attend orientation and firm events where you will learn about LionTree and the industry while meeting members of the firm globally, Access to an invaluable peer network of interns as well as an assigned mentorship team and senior firm leaders, 500 College Ave. In the mold of a classic merchant bank, LionTree is here to fill the gaps through our advice, recasting problems as solutions, and through our investments, unlocking value along the way. This puts a premium on creative dealmaking and M&A, structuring, and access to long-term shareholdersand this is what we at LionTree excel at. But as the company wrote in its most recent letter to shareholders, building a large, successful streaming business is hard. The company estimated its competitors are all losing money, with combined 2022 operating losses well over $10 billion, vs. Netflixs $5 to $6 billion annual operating profit. Competitors need to find their path. In this paradigm, with its front-end model of continuous gratification of consumer demand, you are only as great as your last piece of content. The successes of an everyman like MrBeast and others like him reveal that, in the currency of this vast, youthful ecosystem, relatability and authenticity are gold, while talent is silver. The verbal link has made me think deeply about what weve built at LionTreewhere we are today, where well be tomorrow, and our tentpoles throughout. Most of us recognize that slowdowns are inevitable; the harder task is to accept the unpredictability that accompanies them. Summer Analyst Program 2023 USA Global Advisory Country: United States of America Division: Global Advisory Program: Summer Internship Duration: 10 weeks Programme Description Summer Analysts will focus on a broad range of Mergers and Acquisitions, Debt Advisory, Restructuring, and Equity Capital Markets advisory assignments. And finally, protection against threats that we do not see, neither predicted nor apparentthe most dangerous of all. We seek talented, highly motivated individuals with exceptional experience who can embody our culture and values as creative, team-oriented and hard-working professionals. These confines are both self-selected, and inflicted upon us by algorithms, which risk deepening our social and political divisions by drawing the like-minded together, and radicalizing users by luring them to the extremes of antisemitism, racism, and all sorts of noxious beliefs. Over the last several years, traditional media players have struggled to keep up with content expenditure compared to their tech peers, even when it was more affordable to do so. In such a context, companies will need to take steps to reduce their costs, and to ensure the resilience of their supply and distribution lines. Approximately 60% of companies that have listed since 2019 were unprofitable at listing, and today, theyre trading down an average of 48% from their IPO price. Learn more about our facultys research, student activities, alumni game-changers, and how Berkeley IEOR is designing a more efficient world. Not all change, however, is sustainablesometimes progress hits a brick wall and must be rethought, especially when the assumptions on which it is based have shifted. Times of scarcity mindset, and a purposeful one, in times of scarcity didnt use! Has expertise in a wide range of verticals including film/TV, telecom/cable, music, sports emerging! 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