This was an interview session with Dick Glover, President & CEO, Funny or Die, which launched 6 years ago. User generated content was the future. It started with a question. Why is there not a ‘Hot or Not?’ for YouTube?
Instead of following a Hollywood model, they did a Silicon Valley model. They made Will Farrell and Adam McKay an equity partner in the business. They didn’t get money unless the company was successful.
There was no budget. Go find friends and cameras, and do stuff. This led to the creation of “The Landlord”.
After that viral success, there were other videos, shortly followed by the 2008 market crash and then the emergence of social. They focused on combining A-list talent with social media. Though anyone can contribute videos, most of their popular content features professional talent.