Avid chief Jeff Rosica‘s blunt valediction to HPA, urging an industry on the brink to rethink itself before it’s too late
Avid’s projections for media business primary revenue streams’ growth through 2028, from pay TV to box office
“I think we’re at the edge of a disastrous time if we aren’t careful,” he warned a crowd of about 700 in a Feb. 22 address at the annual confab, held at the Westin Rancho Mirage outside Palm Springs. “As leaders and stakeholders, we’ve got to work together like we never have before to fix what I think is a growing industrywide mess.”
The observations were stunning coming from the head of Avid, the postproduction tech developer behind leading tools such as the Media Composer editing system and Pro Tools audio software. Last fall, days afterRosica is in the process of winding down and working toward the transition as Avid chooses its new chief executive. He joined the company in 2013 and was elevated to president in 2016 and CEO in early 2018 after then CEO Louis Hernandez Jr.
“We’ve got to find a way to get there without work stoppage again,” he warned. “That almost killed the ecosystem in our industry, and it's still teetering because of it. We have to be careful. It will damage this business, and it will take a decade to rebuild what we spent decades building.” Shifting the subject to innovation in tech and workflows, Rosica asserted that the community needs to align and prioritize around efficiencies. “For an industry of this size, especially for the media tech suppliers, we’re asking for far too much.”
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