Edward Hamati on Media Valuations, Streaming Efficiency, and Sports IP

Media and Entertainment Valuations

• 🎯 Valuations in media and entertainment are currently seeing significant capital concentration, with some areas appearing overvalued, particularly in sports.
• 💡 The media landscape is characterized by consolidation, with entities seeking to acquire certain assets while divesting others.
• 🔍 The value of media properties depends heavily on their Intellectual Property (IP) and audience quantification, with some legacy properties becoming stagnant.

Opportunities in Streaming and IP

• 🚀 There is significant room for new efficiency within the streaming and media landscape, especially concerning platform consolidation.
• 🔑 The tech-first component and a strong backbone, like Oracle's, are crucial for building and optimizing streaming platforms.
• 🌟 The intersection of sports and streaming is considered a "Holy Grail," with year-round events like UFC offering consistent engagement.
• 📈 Opportunities exist in creating content around athletes' lives, particularly in women's sports, which have a substantial and engaged audience.

Investment Strategy and Content Creation

• 🧠 The Stewart Trust approaches investments with a patient strategy, focusing on building platforms rather than quick flips, aiming for long-term growth.
• 👨‍👩‍👧‍👦 The family office is interested in kids and family content, with a mission to become the next DreamWorks, and sees potential in intersections with sports.
• 💬 The era of the content creator persists, with platforms like YouTube enabling the creation of audiences around new concepts and micro-dramas.
• 🌟 A notable example is a young adult series that gained a large following on YouTube, now being developed into a full series due to audience demand.

Geographic Presence and Portfolio Allocation

• 📍 Operating from Boston, the family office leverages its location for access to GPs in strong markets like healthcare and biotech.
• 📊 Media investments currently represent under 10% of the overall portfolio, despite significant bets made in the sector.