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Alumni Spotlight – Kelly Merryman, VP of Content Acquisition for Netflix

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Kelly Merryman headshotKelly Merryman, BHP ’98, manages content acquisition for Netflix in Europe.  She began her tenure at Netflix in 2007 licensing content for the US market. She co-led Netflix’s international expansion, acquiring TV series and films, in countries including Canada, Latin America, the UK and Ireland, the Nordic countries and the Netherlands. Prior to joining Netflix, Kelly held positions in digital distribution and business development at Sony Pictures Entertainment, and spent time at both Bain & Company and Audax Group, a private equity firm in Boston.

Take me through your career progression from starting at Bain to ending up at Netflix.

Coming out of UT, I was looking for an opportunity to work in management consulting. I thought it would be a great way to build a strong skill set working in different industries and learning about various companies. I accepted a job with Bain in their Dallas office as a consultant. I worked for an airline in South Africa and actually lived there for a bit. I also worked in the automotive and paper sectors, as well as online travel. I learned a lot about myself and about working in different, large organizations.

I felt it was time to make the bets myself and move away from consulting, so I decided to join a private equity shop. Audax Group was founded by leadership from Bain Capital, looking to return to Bain Capital’s roots of investing in middle-market companies. It was an opportunity to execute on the vision component I had worked on as a consultant and see if it actually worked. I got to see what it meant to motivate an employee base during a change in strategy. The experience of thinking about the value of brands and consumers was really fun.

After getting my MBA from Harvard I took a job in LA with Sony and spent two years in their business and corporate development group figuring out how their distribution of media was going to evolve with the introduction of digital. From there, I jumped into the licensing group to actually do the distribution deals and not just plan them. I enjoy the value of negotiating deals and finding a way for two partners to create a new business.

In 2007, a lot of players entered the market place for digital distribution and Netflix reached out to me about joining their team to do digital licensing. I have been here ever since and have had an unbelievable experience. We had about 7 million subscribers in the US when I joined, now we have over 44 million on the streaming side and about a quarter of those are outside of the U.S.

What are your key responsibilities and areas of focus as the VP of Content Acquisition?

I am responsible for content acquisition for Europe.  This means that my team and I set the programming strategy for Netflix in the different countries we serve in Europe.  We select the titles, negotiate the deals and manage the budget.  Another key part of my role is driving the European expansion strategy for Netflix, determining which countries we should move into next.  I do this in close alignment with our Marketing VP for Europe.

I read that one of the ways you determine viewers’ interest in a show before buying it is checking how it has done on piracy sites. Can you talk more about that?

There are a variety of ways in which we evaluate programming. We focus most of our time on feature films and scripted TV series. We look at their performance in the market to see what the demand is. Performance on piracy sites is one piece of the puzzle, so are box office figures and linear TV ratings as well as DVD sales. This information helps us understand where there is a need. If we can identify a TV series people are watching on a pirate site because it isn’t available, we can try to license it so they have a legitimate way to view that content.

Can you talk more about Netflix’s decision to make original series content?

Ted Sarandos, our head of content,  was the champion of House of Cards, one of our first original series. He had a vision and we all jumped on board quickly. As we continue to grow our business, we want to have a much more exclusive set of TV series and films, and some of those will be original productions. This helps us define our brand and generate excitement and buzz. Netflix today is much more like a channel, albeit pure on demand, instead of a broad distributor. This strategy helps keep subscribers longer.

You were very involved in the expansion of Netflix to other countries. What were the main challenges in making those deals and how has that expansion affected the company?

The biggest question we had was “is Netflix a U.S. service?” We had to ask ourselves if everyone in the world would be interested in on-demand, or if that was uniquely American. Expanding into other countries validated that the demand was there. For the content side, we had to dive in and recognize that each market is unique and we needed to spend the money to develop those local partnerships to get the right content. We had to convince investors of the need for upfront investments that would pay off later. And they have.

What is the best part of your job?

The people. We have such a unique culture over here. We find really impressive experts in their space and give them freedom and responsibility. Being at the forefront of changing this industry is special and exciting.

Were there any specific classes at McCombs that stand out to you or helped prepare you for what you have been doing?

The case method taught in small classrooms was great. It was valuable to learn to work through solving a problem that wasn’t just in one area, but in all areas and learning how they came together. My favorite class was a marketing class taught by Shelby Carter. He would talk about unique challenges he had faced in his professional life and ask us how we would have dealt with it. Seeing those real-life examples and the grey area was enlightening. I realized nothing was as easy as it looks on paper and the answers aren’t always black and white.

Any advice for current BHP students?

Spend time networking with your classmates. They will be some of the most important people in your future. Always ask questions and ask speakers about their most challenging moments and how they handled it. Understanding how people deal with challenges can teach you a lot.

Alumni Spotlight: Ty Cobb, Director of Global Engagement at the HRC – Class of 2003

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Ty CobbTy Cobb, BHP ’03, is the Director of Global Engagement at the Human Rights Campaign (HRC). Ty works to advance equality for lesbian, gay, bisexual, and transgender (LGBT) people around the world. Prior to launching HRC’s global initiative, he was instrumental in passing the Hate Crimes Prevention Act, the repeal of “Don’t Ask, Don’t Tell,” and an LGBT-inclusive Violence Against Women Act in his role as legislative counsel for HRC and while working for Senator Edward Kennedy.

You received your undergraduate degree and law degree from UT. How do you think UT and BHP prepared you for your career?
I’ve been a lawyer, lobbyist, congressional staffer, public speaker, program director, and manager. All of these roles required different skills, and many of those required were things I learned in BHP. My business background has given me a unique perspective in each of these roles. And, all those case studies were certainly helpful when planning for and launching a new program at the Human Rights Campaign.

What was your career progression after graduating from law school?
I went directly to Bracewell & Giuliani in Dallas where I worked for a year. I then moved to another firm in Washington, DC, Sidley Austin. I stayed there until I began as counsel to Senator Edward Kennedy, where I worked to secure passage of the Hate Crimes Prevention Act in the Senate. It was my first experience working on LGBT rights, but one I’ll always remember. After Senator Kennedy died, I became a lawyer and lobbyist at HRC for several years before getting the opportunity to launch a global program.

What new challenges do you face in this new role in global engagement?
Starting a new initiative from scratch has been a huge challenge. It has been an entrepreneurial adventure, and an opportunity for personal growth. Aside from that, it’s emotionally draining to see some of the more horrific situations LGBT people face across the world. Nearly 80 countries criminalize same-sex relationships – five of which actually punish individuals with death. And, on top of criminalization, several countries have now begun to outlaw public advocacy for LGBT rights. Transgender individuals, as well as those who are lesbian, gay and bisexual, face violence and persecution, some of which is government sanctioned or even condoned by the victim’s family.

There is a lot going on right now with the LGBT rights movement. What is it like being on the front lines of the fight for equality?
Nearly every day is filled with a new dramatic twist or turn. While several countries took big leaps forward last year with marriage equality and strengthening transgender rights, countries like Russia, Uganda, and Nigeria took huge steps backwards. The world is being pulled in two directions and I’m glad to be part of the momentum pulling us closer to a world where individuals aren’t denied their human rights because of who they love or who they are. One of the most rewarding aspects of my job has been meeting human rights defenders from around the world who have become the catalysts for change in their home countries.

What are you spending most of your time on in your new role?
As the LGBT community has gained ground in the U.S., our opposition has lost its momentum. Their decades-long winning streak at the ballot box ended in 2012 when we gained marriage equality in Maine, Washington, and Maryland. As such, in 2013, we started to see anti-LGBT Americans – like Brian Brown of the National Organization for Marriage – spending more time abroad preaching intolerance and promoting junk science. There is a growing American industry of exporting hate. And dozens of Americans and American organizations are involved in the industry. At this current moment, I’m fixated on a project to expose, combat, and counter the messages of these Americans.

What has been the most meaningful achievement in your career so far?
Being part of the repeal of “Don’t Ask, Don’t Tell.” DADT repeal was the first issue I worked on at HRC, and I became extremely close with many of the service members who lost their careers because of DADT. Many of the folks affected by DADT had spent decades serving their country only to be discharged because of who they love. The law made no sense. Repeal of the law provided the opportunity for so many in the community to heal from the experience of being told by our government that they were less than equal simply because they were gay or lesbian.

What is your pie in the sky goal for your time at the HRC?
From Cameroon to Jamaica, there are LGBT activists who are fighting to combat violence, stigma, and discrimination just because of who they are. While the laws in each country and culture may differ, these activists are working towards the goal of full inclusion and equality for fully realized LGBT lives around the world. I would like to see HRC play a pivotal role in connecting the work of activists to build a stronger, more connected global equality movement.

What advice would you have for current BHP students?
Unless you’re in the minority, you probably don’t know where you’ll be in ten years. You don’t know what opportunities will open up before you. It’s important to constantly challenge yourself to gain new skills so that you can take advantage of opportunities when they arise. If you feel comfortable in what you’re doing, it’s time to do more. I grew the most as a professional when I put myself into extremely uncomfortable situations that made me do things that I wasn’t particularly thrilled to be doing – public speaking, networking outside my usual circles, taking on monstrous writing projects, and such.

Students Take Fourth Place in a Non-Profit Case Consulting Competition

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BHP students Robert Ma, Thomas Pigeon, Jane Tedjajuwana and Shannon Wey took fourth place at the McDonough-Hilltop Business Strategy Challenge at Georgetown University in Washington, DC this month. Twenty teams competed, 11 from the U.S. and nine international, in this unique non-profit case consulting competition. This year’s case centered on expanding job opportunities available to members of the National Institute for the Blind (NIB).

MCC

From left: Jane Tedjajuwana, Robert Ma, Thomas Pigeon, Shannon Wey

“The main goal of NIB is to help the blind become independent personally and financially. Our job in the case competition was to find ways for the NIB to open up job opportunities not only within the federal government, but in the private sector and in the service industries,” said Shannon Wey.

The team presented a three-pronged solution which involved starting an internship program allowing blind people to get a foot in the door with employers, building a stronger network of partner companies across the nation, and implementing a talent showcase open to companies to show what blind people are capable of with current assisted technologies.

The unique emphasis on non-profit organizations altered the way the students view not-for-profit work, “We realized all the different obstacles that are placed in front of a non-profit, be it people’s biases against the people the organization is trying to serve, to limited opportunities, to financial restrictions,” said Thomas Pigeon. “It gives you a greater appreciation for how they maximize every dollar they are given.”

“Non-profit put such a huge twist on it. I’ve done six or seven case competitions and this is the one I’ve enjoyed the most because the nature of the case made if feel more fulfilling because I felt like I was contributing to a greater cause,” said Robert Ma. The students were also able to dedicate more of their efforts in areas, which may not receive as much attention in typical business case competitions. “Because it’s a nonprofit we didn’t just focus in on revenue,” said Jane Tedjajuwana. “We didn’t look at the financial projection at all in the first round because they just wanted to hear our ideas and gage how realistic it was because ideally they wanted to be able to implement the solution.”

The team also enjoyed meeting other competitors from outside of the U.S. and hearing their global perspective on the case. “It provided a really unique experience for all of us. We appreciated how international it was. We met people from Hong Kong, Australia, Germany and Singapore,” said Robert Ma.

After taking a closer look at non-profit organizations, all of the team members said they would now definitely consider working with non-profits after college.

The trip was not all work. The group managed to find time to visit the Washington Monument, Lincoln Memorial and made sure to make a pit stop at Georgetown Cupcake.

 

Junior Jeffrey Li Working to Make Positive Changes to Medical Research

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JeffLiJeff Li was drawn to UT by the roaring school spirit, high-caliber academics and top-notch funding for research. When he started at UT he found a land of opportunity as he made the transformation from Biochemistry major in his freshman year to a double major in BHP and the Dean’s Scholar Honor’s Program in natural sciences. He also received the Unrestricted Endowed Presidential Scholarship, which is one of the most prestigious continuing student scholarships offered by UT and has also become heavily involved in research, “I’m so thankful that I chose UT because there are a lot of opportunities here that I don’t think I would’ve found elsewhere,” said Li.

Jeff LiLi has always known that he wanted to go into healthcare and research, interning at the Texas Medical Center immediately after graduating high school. Now as a junior in the BHP, Li has found a new interest in examining how healthcare and business intersect, “I want to learn more about how to take the business principles from my BHP courses and cross-apply them to make healthcare more efficient. I want to make a big contribution in this area,” said Li.

He is specifically concerned with how research funds are allocated and the extended time gap between when a medical breakthrough begins at the laboratory bench to ten plus years when it reaches the patient’s bedside. “It’s interesting to me how someone puts a quantitative value on someone’s potential research. I think business concepts and risk management can play a big part in improving this decision-making process by decreasing possible risk and subjectivity,” said Li. “Something McCombs is really good at is teaching us how to make the best choices with a limited amount of information and that’s something I want to continue to learn here and apply to interdisciplinary healthcare and science fields.”

As for the time gap in the research process, Li would like to find improvements to promote efficiency. “What I want to do is leverage education and sustainable business models to develop new therapies for things like Alzheimer’s and cancer, and create new technologies,” said Li. “And I’d like to accelerate that development – get the necessary approval, get it to the patient’s bedside and then bring the information you collect from the patient’s bedside back to the lab bench creating bi-directional communication.”

Jeff Li (front) with Learn To Be

Jeff Li (front) with Learn To Be

Shortly after beginning in the BHP, Li discovered another passion for education through Learn To Be, a non-profit organization that offers free online tutoring services to underprivileged children across the country. Li became involved with the UT chapter, started by a group of BHP students, after learning about the group’s mission. “A lot of times tutoring doesn’t make it to the areas that need it most,” said Li. “What most schools in the nation do have is a computer and internet access, which is really all we need.” Learn To Be has over 600 tutors across the nation made available to students in grades 5–12 via different pre-existing technologies.

Ultimately, Li is working towards creating a better world for generations to come, “I believe that people should not be a victim of their DNA. People should not be a victim of the zip code from where they grew up. Everyone should have the right to aspire to something,” said Li.

Jeff LiLi’s outstanding contributions on campus have not gone unnoticed. He was recently chosen as a recipient of the Texas Exes Presidential Leadership Award, which recognizes undergraduate students who have demonstrated outstanding leadership within the student community at UT Austin. “It means the world to me,” said Li. “I really love that the UT community rewards students for taking a blind leap of faith to make real changes in this world, holding true to the motto, ‘What starts here changes the world,’” said Li. He also encourages his peers to find their passion and take action, “A lot of people think they’ll wait to create change until they get a job or finish graduate school, but you can make a difference right here, right now.”

Li will graduate next year and plans to continue on to medical school. His hope for the future is to work as an intermediary improving the health of others by further opening the valve between research and healthcare.

 

 

 

 

 

Alumni Spotlight: Tom Li – Investment Banking Associate at Nomura

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Tom LiTom Li graduated from the BHP in 2005 and has since lived all over the US and the world. From NBC Universal in London to investment banking in Hong Kong, Tom has been able to explore new industries and rise quickly in his positions. He is currently an Associate at Nomura International in their investment banking division, focused on the consumer and retail sector. He previously held positions with Liz Claiborne and NBC Universal/General Electric.

 

You have been able to work in London, Barcelona, Hong Kong, Singapore and Mexico. What have you enjoyed most and found most challenging about working abroad?

I have enjoyed immersing myself in different cultures the most. When working and living abroad, I like learning about the people and their history as well as understanding their perspectives and their point of views. The constant moving around has been difficult, having moved 10 times in the last decade both domestically in the US and internationally. It has been challenging to build a network of close colleagues and friends because you have to basically start again with every move. Being part of a program like BHP and attending a school like UT Austin helps. In most cities that I have lived, I have been able to reconnect with a friend from school or meet up with UT alumni living in those cities.

You have worked in a variety of industries and a variety of roles. Were the moves you made intentional or did your career path just lead you in those directions?

It was partly intentional and a lot of luck. I have usually set a general goal that I’d like to reach and worked towards it. Then, I encounter some twists and turns on the way. For example, I decided that I wanted to pursue a career in the film industry while in college and lucked into it getting involved with film shoots in Austin. I ended up interning on the movies Friday Night Lights and Idiocracy as well as with the Texas Film Commission. Those experiences gave me a slight advantage when interviewing with GE/NBC Universal for their Financial Management Leadership Program, which I found through the McCombs Career Center. With the move from entertainment to fashion, I worked well with the boss I had in London at NBCU. He moved to Liz Claiborne and asked if I would be interested in joining him, which I did. It was fascinating to learn about the fashion industry and to see the media/entertainment industry from another perspective as well as better understand why companies are willing to pay millions of dollars for a thirty-second ad spot on TV. After I got my MBA, I decided it would be good to obtain some investment banking experience to enhance that expertise in my skill set, so took a position with Nomura International in investment banking. Working at Nomura also allowed me to see and understand the difference between working for a non-US (Japanese) company versus an American company.

In your role with Liz Claiborne you developed partnerships with Chinese companies. What was that process like and how different is the process when working with companies in other countries?

The process was difficult. The company was trying to turn around the Liz Claiborne brand at the time, and most people were focused on the core domestic business. I was in charge of the longer-term strategy of the business to ensure its success in the future upon revitalization of the brand. One idea was to further expand Liz Claiborne’s presence in Asia. It was challenging to build partnerships in Asia because it was difficult to find the right partners, particularly in China. I reached out to some advisory firms that connected me with potential companies that could be the right fit as a partner in Asia. We invited those companies to our showrooms in New York City to take a look at the new brand concept and designs as well as to learn more about each other. It was important to pay attention to and respect the different cultures when dealing with people from other countries. I remember wanting to go beyond the surface level of understanding another’s culture, but did not find that to be very easy. I have concluded that is something you learn over time and with experience working with people from other cultures.

Why did you choose to do your MBA at IESE in Barcelona?

It is a great school in an amazing city. I also wanted to challenge myself and live in a country that has a completely different culture and language. Language skills help when you are working internationally. It is better to speak the local tongue if you can, even if you are not fluent in it. The act of trying to speak in another language demonstrates your respect for another culture, which I found is often appreciated. I also like being taken out of my comfort zone and wanted to live in a country where English wasn’t the national language and people took siestas. It was important for me to gain a less US-centric perspective of the world, having lived in the US a majority of my life at that point. The experience allowed me to understand an international perspective of the US as well as made me appreciate certain elements of our US society even more. An unexpected benefit is that now I have friends across the world, as only around 10% of the student population is from the US.

Are there any deals you worked during your time doing M&A work that really stand out to you?

My first one. When I was at NBC Universal working with Telemundo, we acquired a small Hispanic TV distribution company. It was my first M&A deal and was very interesting because it combined my passion for film/tv/media with my corporate finance education. It was the first time I felt truly challenged and used the finance and accounting knowledge that I had learned from UT. I was good at it, and it planted a seed in my head that I could do this in the future. I took intermediate accounting when I was at UT and that helped prepare me for this deal, although I remember that class being extremely difficult when I took it.

Tell me more about the work you did at NBC Universal. Why did you decide to go to work for NBCU and GE after graduation?

It was a dream job for me at that time. I was considering just moving out to Los Angeles to work in the film business upon graduation, but when I got the job I was excited because NBCU felt like a natural fit. I joined NBCU/GE’s Financial Management Leadership Program. They use the program to build the finance leadership pipeline at GE. It is a two-year program. You complete four, six-month rotations, and they send you on company-taught courses throughout those two years. For the first two years at NBCU, I worked in different finance roles in different businesses. I worked at CNBC, Telemundo, Universal Studios and NBC Universal Television Distribution. After the two years, they sent me abroad to London to work in the NBCU International business that was tasked with international expansion. The program set me up with a great network. It is kind of like a mini-MBA.

You have had leadership roles with some great companies. What do you think has been the key to success in your own career?

Finding a mentor is important. Working hard and intelligently is also vital for success. It is key to figure out how to do things quickly and efficiently and how to deliver what people are really looking for, not just what you are told to do. Spend some time to scope out what is needed before you start working. If you understand what needs to be done and what is expected, it will be easier to figure out who to go to for help and how to prioritize your workload and manage your schedule. I have been lucky to be given a lot of autonomy in my roles to have the ability to do this, and that has been very important to me.

What advice do you have for current BHP students?

Do what you are passionate about and interested in. If you are really interested in something, you will be much better at it than if you did something thinking that is what you think you should do. Beyond earning a living and building a great career (in which BHP students will undoubtedly be successful), aspire to also make a positive contribution to society.