Chairman, NBCUniversal News Group, NBCUniversal Media, LLC (NBC broadcast network)
A Conversation With Cesar Conde, Chairman Of The NBCUniversal News Group
Cesar Conde, Chairman of the NBCUniversal News Group, speaks with Gillian Tett of Financial Times at the Aspen Ideas Festival about tribalism in media and politics and other topics impacting the state of media today. NBCUniversal News Group is the media partner of Aspen Ideas.
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Transcript (39 segments)
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Julian Ted0:01
Hello everybody and welcome to a conversation with Cesar Conde, chairman of NBCUniversal News Group. I've been looking forward to this all week. I'm Julian Ted with the Financial Times, a news junkie. Before journalism I trained as an anthropologist, so I'm fascinated by tribalism, which is rife today in politics and media. Cesar has a unique perspective as head of NBC News, former Univision and Telemundo executive, and the first Hispanic head of a major English-language media group. Let's start with an audience poll: who is old enough to have seen Walter Cronkite? Who thinks TV has deteriorated? Who thinks TV makes polarization worse? Who trusts what's on TV? And who watches NBC most days? Thank you.
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Cesar Conde2:37
Thank you, Julian. Great to see you. Thanks for the invitation and to the Aspen Institute. I'm excited to be back. No, none of that surprises me. We face fundamental challenges in the news industry and the country. One thing I constantly remind folks is the vital importance of a strong, independent, and trusted news media to the health of our democracy.
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Julian Ted3:32
Many say NBC is left-wing and that won't change. What do you say?
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Cesar Conde3:51
I disagree. We are a very different organization. Our portfolio includes NBC News (hard news, no perspective), Telemundo News, CNBC, and MSNBC. MSNBC has perspective in mornings and evenings, like the editorial pages of a newspaper. We offer variety for different audiences.
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Julian Ted5:44
Can you really be bipartisan when commercial pressure is to get sticky, tribal audiences?
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Cesar Conde6:13
We take the public service component seriously. Also, most people now get news from social media, which lacks the rigor of traditional news organizations. That's a real challenge.
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Julian Ted7:28
So the pressure is to scream louder and be more tribal?
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Cesar Conde7:51
Technology platforms reinforce choices, but our hard news outlets are down the middle. On MSNBC, perspective is based on journalism. Audiences should know what they're consuming.
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Julian Ted9:01
Do you feel guilty about the media's role in polarization?
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Cesar Conde9:23
Media is part of it, but not the only piece. We believe we must be a positive force in that discussion.
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Julian Ted9:48
How do you maintain revenue as cord-cutting and unbundling increase?
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Cesar Conde10:29
Technology has created opportunities for more direct relationships with audiences, but also more competition. We must ensure our premium content breaks through. Young people watch premium video on streaming. We launched NBC News Now, a streaming service with hard news only, attracting a younger audience (average age 35-40). It's a net positive.
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Julian Ted14:39
How has your experience with the Hispanic market influenced your English-language strategy?
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Cesar Conde15:22
The Hispanic community fuels demographic growth and is younger, more digital. The U.S. is becoming majority-minority. At Telemundo, we focused on the '200 percenters' – 100% American and 100% Hispanic. That approach now informs our mainstream work. We collaborate across platforms.
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Julian Ted17:59
What will the news ecosystem look like in 5-10 years? More streaming? Consolidation?
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Cesar Conde18:25
More competition from more platforms. Our focus remains on quality journalism with high standards. We then distribute across platforms to reach audiences wherever they are.
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Julian Ted19:19
What did you get wrong in the past year?
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Cesar Conde19:24
We constantly get things wrong. When we make an error, we correct it quickly. A major challenge is misinformation and disinformation. We have a unit that vets social media footage; early in the Ukraine war, most video was fake. We call it 'counterfeit news' – created to deceive. We invest in technology and journalists to help audiences think critically.
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Julian Ted22:22
How will you cover the 2024 election to avoid counterfeit news? Will you have a treaty with other broadcasters?
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Cesar Conde22:54
In 2020, we decided to be right rather than first. We rely on data scientists and won't call an election until we are confident. We haven't spoken to Fox about a common policy.
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Julian Ted24:35
Why is Rachel Maddow leaving?
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Cesar Conde24:39
Rachel is not leaving. She signed a multi-year deal for a weekly show, plus podcasts, streaming, and documentaries. Her replacement is Alex Wagner. It's a win-win that reflects the proliferation of platforms.
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Julian Ted26:05
Any questions? Identify yourself and keep it short.
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Julie Linhart26:13
Former local TV news producer. Local news is trusted and could heal polarization. How does that fit your strategy?
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Cesar Conde27:08
Local news is fundamental. We believe newsrooms must represent all communities. We announced the '50 Challenge': 50% women and 50% people of color. We also hire from diverse geographic backgrounds, not just New York and DC. If audiences see issues that resonate, they are more likely to trust.
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Julian Ted29:42
How far are you along that path?
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Cesar Conde29:54
Two years ago, 26% of employees were people of color. In the first year, we increased to 29%. We'll announce this year's numbers. It takes time to do it right.
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Toddy Gutner30:45
Former print journalist. I feel sadness over the loss of trust. Will we ever go back to trusting the fourth estate?
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Julian Ted31:55
The Edelman Trust Barometer shows trust in media fell below banks. That shows the scale of the challenge.
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Cesar Conde32:27
We have no choice but to find a path forward. A strong, independent media is fundamental to democracy. My parents immigrated from Cuba; I grew up understanding its value. There's no silver bullet; we focus on what we can control.
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Perry Peltz33:47
Former NBC reporter. How much is busting fake news and building trust part of your daily equation?
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Cesar Conde34:18
Our journalists' work is rigorous, but now they face security threats. We provide training and bodyguards for certain events like political rallies. Protecting them is a new reality.
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Julian Ted36:31
Does news about Trump still drive ratings?
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Cesar Conde36:54
There are many issues. Jan 6 hearings get big audiences, but also the economy and health crisis. Audiences are hungry for accurate information on all these.
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Julian Ted37:50
We have a few minutes. Let's take two questions quickly.
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Gene Swanson38:05
Retired physician. It seems there's too much perspective and not enough real breaking news. What percentage of your content is perspective?
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Maya39:06
Proud of Cesar, a Henry Crown fellow. Was the decision to pull reporters from Ukraine coordinated? How do you make those decisions?
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Cesar Conde39:33
On perspective: it's a minority. No perspective on NBC, Telemundo, CNBC, or NBC News Now. Only MSNBC offers perspective in mornings and evenings. Most perspective is consumed on digital platforms. On Ukraine: we believe it's the most important war of our generation. We committed huge resources early on. As the war evolved and for security reasons, we moved people, but our footprint hasn't changed; audience interest shifted to the economy. We are committed to staying long-term, and many peers are too.
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Julian Ted42:04
Thank you. The audience stayed until the end – a sign that media matters. Good luck.