On May 11, 2017, the winner of the SevenVentures Pitch Day (7VPD) was announced as RISE Brewing Co., a non-GMO, nitrogen-infused “cold brew” organic coffee business.
RISE Brewing competed on stage against 2 other companies, but the coffee company ultimately was chosen by the 7VPD judges (and the voting audience who watched the fun unfold) at the DLDnyc 2017 conference. The announcement was made by SevenVentures (the investment arm of Germany’s ProSiebenSat.1 Group)
With the win, RISE Brewing gets a full-service media package to kick-start an expansion into Germany! They’re also invited to the main 7VPD at DLD Berlin this October to compete for a media package containing 3 million Euros. After, I chatted with one of the 3 judges, Eun-Kyung Park of SevenOne AdFactory, to get a sense of why the German media landscape seems to make everyone there happy — unlike the media industry here in America which seems to be getting worse, sadly.
Eun-Kyung Park, Chief Sales Officer at SevenOne AdFactory since May 2016, was responsible for connecting TV and digital content within the group, most recently as a member of the management team in the “TV Relations & Business Development” division of ProSiebenSat.1 TV Germany.
Prior to joining ProSiebenSat.1, she worked for Bertelsmann in Shanghai, Paris and Gütersloh. In 2013, she also joined the Young Global Leaders of the World Economic Forum. Park studied business economics from 1997 to 2001 with a focus on international economic relations at the WHU – Otto Beisheim School of Management in Koblenz as well as at the Korea University in Seoul and EDHEC Nice in France.
Q: Eun-Kyung, hello and thank you. I’m hearing that the ad industry in Germany creates a lot of satisfaction for all players, in contrast to the U.S. ad industry which is filled with endless angst, sadly. What’s so different in Germany that this is the case? May I guess? Better efficiency, unique partnerships, innovation?
Eun-Kyung Park: A lot of people don’t understand the differences between Germany and the U.S. We’re in a good position because the German market is structured very differently — we don’t have such a fragmented market yet. Basically we have four big players which are relevant. German households are not used to paying for content. Content is basically included in the cost of cable, so cord-cutting isn’t happening to a great extent in Germany as it is in the U.S.
It’s true that the German ad ecosystem is efficient; the most important thing is daily reach. 85 percent of all reach is still TV. Even though there’s YouTube, and competitors like Netflix entering the market and growing, we have a massive advantage; the TV ecosystem is still unparalleled.
I would say it’s not about unique partnerships because we stand for basically 30 percent of market share, so we can’t allow partnerships that are too unique; we have to be fair and treat everybody alike. But definitely innovation. We had quite a ride because 8 years ago we were in crisis mode. Due to financial situations, we were forced to change, and it’s always easier when you’re forced to change — we had to integrate digital transformation into our DNA. The combination of efficiency and innovation is what you see today.
Q: When a new company is working with SevenOne AdFactory, how should they best prepare before meeting you? Is being funny an important factor for German TV ads?
Eun-Kyung Park: That’s what a lot of people think, especially for Generation Y, but it’s not about being funny. I would rephrase it. There are two things which are most important for TV; one is reach, and the other is emotion with storytelling. Funny is one aspect of emotion, but the question is “What story do you want to tell that will trigger the right emotions?” If you’re new to working with SevenOne AdFactory, I need one simple thing: You have to tell me what keeps you awake at night. Basically this is our base to start to work for you and with you!
Special thanks to Michaela for the fun invite