Karmazin Predicts Mobile Not Great for Media
     

In his first interview since stepping down from SiriusXM as chief executive officer, Mel Karmazin tells CNBC he’s looking for his next CEO job.

He wants to work for a public company, and because Karmazin also has a vacation home on the New Jersey shore, he also muses about helping New Jersey Governor Chris Christie with cleanup from Hurricane Sandy.

Switching to the current state of advertising for media, Karmazin tells CNBC, as someone who’s “been a seller of media assets and media stock over the years,” he believes new digital technology has been “very disadvantageous” for existing media companies.

As consumers switch to watching or listening to programs on mobile devices, the former radio executive doesn’t expect large advertising dollars to be in that space for media companies. “You’ve heard the cliché about analog dollars, and digital dimes and now mobile pennies,” he said, “as more and more of the audience goes to mobile, the ability to monetize it becomes even more challenging.”

 


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