Bill Patrizio, CEO of UK media management specialist Red Bee Media, has confirmed that he is moving on to pastures new.
Mr. Patrizio told www.broadcastnow.co.uk: “There’s no mystery or media story — my departure is about finding the next role where I can really make a difference. I’m really proud of what we’ve achieved at Red Bee and it’s great to be leaving in a position of strength.”
Over the past two years, the company has seen a number of its senior executives depart, including its Chief Technology Officer and Chief Commercial Officer, with no direct replacements appointed as yet.
Red Bee Media announced last January that it was planning to move its HQ from Broadcast Centre in West London to offices in Ealing, while the playout and technical teams would remain on the BBC campus in the capital’s White City.
The company issued a major new study last March which predicted that UK broadcasters and TV providers are going to face steadily increasing competition for television revenues from disruptive OTT services and technology companies.
The study predicted that both pay and advertising revenues from online video services will quadruple by 2020, increasing by 320% from 2010. Non-traditional revenue sources are also expected to become increasingly significant, with 58% of UK television executives polled by the study predicting that product placement and ad-funded programming will become important income streams.
However, this growth will also mean that competition for these revenues will intensify further in what is already one of the world’s most competitive TV markets. Increased competition is expected from the technology industry in particular, as major Internet businesses and device manufacturers ramp up their investment in the market.