Title: CEO Corner: Gary Greenfield of Avid Technology

" Welcome to -- everywhere we go one on one with new England's top CEOs to learn the secrets to their success. This week we have Gary Greenfield who is the CEO of avid technology is welcome Gary thank you Marianne. President have you I -- to begin the program by hearing you're. Assessment of the impact of this recession. Upon the movie business itself because yourself into that business I noted in an economist peace. That ticket sales through August of this year actually up 12% but the number of films being produced is projected to be below 400. Visibly last year it was 606. Now against that backdrop -- we have two major movies being felt right now we have Tom cruises Wichita. And of course Ben Affleck -- also filming in the Greater Boston area so. We -- perspective. How has the movie industry been impacted or not by the recession."

" I think the movie industry like many other parts of the economy. Have been or try and others are struggling. With trying to understand the full impact of the recession. As you point out ticket sales are good so we're now starting to see new productions green light green looked. You know for the future. A fire out in LA and in Hollywood. At least once a month and it's clear that you can see if you can see that -- it ramping up ramping up. Massachusetts of course we have Obama Hollywood east we have come with rock studios that have announced that on the fending for moving on to that to the next steps. The -- to produce about four movies locally dominating one time that's gonna sit -- is increase our capacity. Quite a bit here in the here in the Boston area here in the Massachusetts area so we're very excited excited about that."

" Her interest -- also sell into the music recording business. Television production and and TV commercials. Now as you know that aren't actually over the weekend Wall Street Journal reported that the jobless figures here in the United States in September 9 point 8% at 826 year high. There's a big concern that because people cannot get jobs are like six people against every one job that's available in this country right now. The consumers are not going to spend. So given that scenario. What are you seeing in terms good business into of the TV commercial industry. TV production and music recordings."

" Bruno remarkably. We're we are seeing for the consumers that consumers are continuing their continuing to spend. Entertainment time during a recession typically as for the reason is that -- took its browser has picked up. The TV viewership is actually up as well that they're remarkably and that. But the same time of course an online -- is going up some consumers are actually seeking. That that's sort of -- real opportunity to step back. And and be entertained during this during this period that's actually good for entertainment industry. How we of course are seen advertising. Under under pressure and advertising it is affecting. The news industry on as we sit here and had a good news channel that is affecting non keyed in on TV got -- and for TV. It shows are being produced. All these new channels whether the on the Internet or whether the additional cable channels are additional over the air channels are really creating the demand for new content. And that's good for the extra."

" That's good Trabant -- also just close their doctor -- an issue of our viewers a little bit of corporate overview on. -- itself it was founded in 1987 it's headquartered in Pittsburgh Massachusetts. Focus digital audio and video technology for media productions. Eight revenues almost 845 million employees 2200. And the footprint is global. I'm just a little bit of history very I was fascinated to learn that the company was founded by former marketing manager. William Warner from Apollo computers. And he had that magic that basically. Wikipedia said just was that's the biggest thing that happened an -- editing since the nineteen hundreds so. You take it for now."

" Well you know I guess it's been very Warner did -- come out actually spent some time between trying to understand them know what led him to sort of breakthrough and in fact he was trying to. You know there's a bit of an end and patient person who's trying to create a you know that market a marketing video. And he went down to a local compost house and found that for the folks were really going to going through the videotape turning turning and eventual wheels manually. So there's got to be a better way of doing this course he was at he was that time. A power computing knew that what computers can be applied and he developed along with some engineers about -- engineers are still with to have it today. We created created the first what was called nonlinear editing for sure it meant rather than having to go through the tape tape sequentially. You can. You can jump around you can jump around just like you jump tracks on the CD you're you can jump around a dvd you jump around editing and that became the Genesis for the --"

" core product is the media composer. And I noted that Ben Affleck guys in major user and major advocate for that and I just wonder. If if you might explain the key elements of this technology if we waited to take a look at a movie that it was used on some dog millionaire. Eight Academy Awards will be the key capabilities. But that this whilst --"

" Some media composer is our key products -- for video editing she notes for all those movies you mentioned. They're also using your pro tools which does the same thing for sale and for music that media composer to it does for video. If you're talking to -- if you're talking to a sound mixer or if you're talking to a video that editor they would tell you it's -- it's the art of storytelling. They really what Edison is a ballot. There's -- about just making the cuts in the transitions. They really helped lead I had to helmet that they have the opportunity to tell a story. And that's really what they can do with media composer. Our editors including I'm sure editors heard any C anchors and he also won some some awards using -- media composer. -- for some new programs Petraeus and extensions are nervous system. What they wanna do is it is doing it. Put those pieces together so that we can -- best appreciation of -- condensed time for twelve now and have to a couple of hours. For TV show thirty minutes to an up to an hour to be able to really. Hear that story and they add some effects to make sure that."

" More excited as well brush strokes and entertaining Korea a masterpiece. I think that's what the technology I think it's great allows. I want to ask you about your did you design that you just refer to for. For audio I I noted that YouTube. And Coldplay you realize this and I just wonder once again -- distinctive that either group does and the -- capabilities."

" Well so with you know the great thing about pro tools which is that it -- just a product that you referred to -- I -- is that the foundation of all of our music and audio offerings. It allows the same thing for for music ability to certain stability for the artist in this case. Do that it Abiola took advantage we're rather be real sounds are virtually shut virtual sounds. And by the way to build a record and wife sat setting so most people think of -- should pro tools and those big mixing stations. In fact if you want to a concert recently the chances are at least one and two. I don't want included that you were hearing the music. Delivered over one of our life sound systems -- and it continued. To choose both of life production. Is rose being being used reduce CD screen EL produce a sound tracks of the movies and other militant though be little compose and by the way it works for children. Always through to these two professional."

" It's fascinating there was stepped back from Malaysia with our viewers a little bit of personal background on Gary it's really quite fascinating. -- is a graduate of the US Naval Academy has a master's from George Washington university and an end today. From Harvard Business School experiences with the CEO of interest solved. Which was merged and became -- he was a CEO there CEO of peregrine systems which is an enterprise software company CEO of G access. And afternoon. In December of 2007 he became president. And food you know I've added I noted in in researching your background you have a connection to Elvis. Just if you share that with our viewers you learned is that as a small child in Memphis."

" The road course Ellis is a great entertainer did entertain I'm sure you're using non pro tools today that if he could. But -- in my neighborhood my father knew more than twelve and I described it as I was pretty Graceland I described as when he was famous for not yet infamous. And in fact John had taken at Graceland as he was built in and out as a picture of me jumps in on his me. And at some sort of gets a lot of questions asked other peoples are very appropriate -- with all the audio and and the video technology."

" Just briefly I noticed something very interesting of the Consumer Electronics Show. You shows showcase several products that -- Consumer grade pinnacle video editing for the consumer and -- For children to compose music and learn notes so that's a very important piece of business going forward for -- the consumer grade sort of thing."

" Well you know most people associated happened with us with a high end film I NTV and in fact. That point five or 30% of our revenue comes from what we refer to is to create an enthusiast. And creative enthusiasts start you know these are these days are starting -- you know ages five and six. I'm very going through to you have going on forever where they create great term productions. Using products like -- suited studio which allows composing and introducing. And introducing children to ideas the idea is -- music is simple things like stop signs and buildings throughout Manhattan understand notes. We're pinnacle studio. The studio which we just released a week ago -- fourteen which would allow. You -- to be doing editing as opposed to having to understand the complexities of of an avid media composer is an example fascinating we're gonna take our first break we'll be -- corner -- just a moment."