Why did Zhang Yiming choose Kevin Mayer?

category:Finance
 Why did Zhang Yiming choose Kevin Mayer?


The magnitude of this opportunity cannot be ignored.

KevinMayer

In the past, one of the most common words used by Disney colleagues to describe Kevin Mayer was smart and direct.

Mayer, who is 6-foot-4-inch tall and broad shouldered, seems to have a big head. In the observation of his colleagues, Mayer also has a set of strategies and methods for doing things,

Usually, he doesnt discuss how to work with others.

Kevin Mayer, 58, was once seen as the successor of Disney CEO Robert Iger, but when Iger announced his successor in February, Kevin Mayer was not elected. Bob chapek, the former chairman of the board of directors in charge of Disneyland and resort business, took over as the seventh CEO of Disney.

Kevin Mayer has been with Disney for more than 20 years. According to the Wall Street Journal, in 1993, Kevin Mayer, 31, joined Disneys strategic planning department. A small part of his staff were recently graduated business school students who were granted full participation in the companys business plans. Just five years later, Kevin Mayer became senior vice president of the division, taking charge of the Internet business and trying to connect Disney with new digital tools.

In early 2000, at the peak of the first Internet boom, Kevin Mayer left Disney to lead Playboys network work, but within a year, Mayer left, and then worked in the media departments of clearchannel communications and lekconsulting for several years.

In 2005, Robert Iger took over Disney in crisis, and Kevin Mayer returned to the senior management position of Disney recommended by Tom Staggs, chief financial officer. After returning to the company, one of Mayers first initiatives was to conduct a large-scale strategic review of Disney in cooperation with Bain, a consulting firm, and conclude that Disney needs to focus more on large franchises than on films and characters.

Later, Kevin Mayer, together with Tom Staggs, was in charge of the future acquisition business and began to study the acquisition targets, including Marvel pictures, the comic book publisher, and Lucas pictures, the creator of Star Wars. In subsequent transactions, Kevin Mayer is usually the person responsible for the details of the transaction.

In 2006, Disney bought Pixar Animation, the producer of toy story, for $7.4 billion. In the process, Kevin Mayer became friends with Pixar co-founder ed Catmull, who became co director of Disney Animation Studios after the deal was completed and an early supporter of the plan to acquire marvel, the Wall Street Journal reported. Three years later, Kevin Mayer led Disneys bid for Marvel pictures, which ended up with $4 billion after repeated negotiations and waiting. Three years later, Disney bought Lucas pictures for $4 billion, and in the process acquired the Star Wars series, which resulted in three deals, with a total cost of about $16 billion.

In 2017, after presenting the reasons for the acquisition of fox to the Disney board of directors, Kevin Mayer went to Murdochs Moraga winery in Los Angeles in person to discuss the terms of the acquisition, and always stood on the side of Iger in the price bidding war, eventually helping him to complete the acquisition of fox by Disney for $71.3 billion. It was Kevin Mayers strategic ambition that impressed Lachlan Murdoch, foxs chief executive. The formers assessment of Mayer in foxs case was

Problem solver, the subtle obstacles and complex issues in the negotiation are mostly handled by Mayer.

In March 2018, Kevin Mayer was appointed as the director of consumer direct sales and the head of streaming media business, in charge of ESPN + and Hulu and other streaming media platforms, as well as international operations, global content and advertising sales. In November 2019, Mayer, then chairman of consumer and international business, launched Disney + (a $7-a-month streaming service).

Ceoiger told the Wall Street Journal at that time that he put the future of Disney on the service - for which the company had spent billions of dollars to produce programs, put the entire movie and TV library online, and made deals with partners such as Verizon Communications Inc., whose wireless and Internet customers would receive one years service free of charge Business. Disney is trying to use the service as an alternative to Netflix and build its own technology base. At present, the number of global paid subscribers of the service has exceeded 50 million, which may mean that Disney is further away from the winner of the digital era. But Kevin Mayer, who built the service first-hand, is about to leave now, and the future may not be clear.

Michael burns, a friend of Mayers and vice chairman of rival Lions Gate Entertainment, said at the time: this service may eventually become the jewel of Disneys crown. Although Mayer is a merciful killer, he is closer to us.

After adding byte jumping, Kevin Mayer will be responsible for tiktok, Hello, music, games and other businesses, as well as global functional departments of byte jumping (excluding China), including enterprise development, sales, marketing, public affairs, security, legal affairs, etc. Alex Zhu, the former president of tiktok, will be transferred to vice president of byttop products and strategy, responsible for the companys strategy and product design. At the same time, the current positions of heads of tiktoks countries and regions remain unchanged, and they will continue to perform their original duties and report to Kevin Mayer.

According to data from sensor tower, an application data company, tiktok has about 1.9 billion downloads worldwide, including 172 million in the United States. In the first quarter of this year, tiktok downloaded 307 million times, more than any other application in the world.

Tiktoks popularity, the way to process personal data -- through the use of sophisticated artificial intelligence, according to the users behavior on the application program to carry out video recommendation, byte jumping Chinese background, make it face deep distrust in the U.S. government, including almost all military departments and several government agencies prohibit employees from downloading or using the application Procedure.

In November 2019, the U.S. government spent $1 billion on byte jumping to acquire social media applications Musical.ly Conduct a national security review. Musical.ly It is the predecessor of tiktok. In fact, in the United States, Republicans and Democrats alike question the impact of the Chinese government on the app. Previously, in March 2019, at the hearing on tiktok data security in the U.S. Senate, U.S. Republican Senator Josh Hawley publicly said that he would submit a bill to prohibit federal employees from using tiktok on their equipment, and the ban would apply to all equipment issued by the U.S. government. Josh Hawley accused tiktoks parent company, byte skipping, of sharing data with the Chinese government. In December 2019, both the U.S. Navy and the Department of defense sounded an alarm to tiktok. The U.S. Navy had previously asked soldiers not to download and install the app, and if it has been installed, it needs to be removed from the equipment issued by the government.

These voices have obviously hindered the development of byte skipping globalization strategy. So Zhang Yiming went to the battle in person. On March 12, this year, he sent an internal letter to announce the overall upgrading of the organizational structure, saying that he would be the Global CEO. Next, he would spend more time in Europe, the United States and other markets, and work with Alex to improve the global management team and lead the companys global strategy and development.

Tiktok has hired many U.S. executives and employees to run its business and review content on its apps in an effort to calm regulatory concerns overseas, Reuters reported. In 2019, Vanessa Pappas, a former YouTube executive, joined tiktok and became one of its US leaders. In a blog post in November, she said that tiktok promised to give priority to data security. We have a dedicated technical team that focuses on adhering to strong policies on network security, data privacy and security practices. In addition, we conduct regular internal and external reviews of our security practices to ensure that we are able to keep up with the risks at this stage. In January, byte beat appointed Erich Andersen, the former head of Microsofts intellectual property, as the global general counsel. In March, tiktok simply announced that it would stop using people in China to audit overseas content, and transfer these positions overseas, while more than 100 employees affected would be transferred to other positions within the company.

The new news is that after Kevin Mayers appointment was announced, Republican Senator Josh Hawley tweeted that tiktok had told him before that they would not be able to attend hearings in the United States because the executives were all in China, but the new executive lives in the United States. I look forward to his oath.

reference material:

Reuters: Kevin Mayer, Disneys streaming media executive, will move to tiktok as CEO with a Chinese background

Silicon Valley insight: the man behind Mickey Mouse: a new coo Kevin Mayer