What’s Next for Miramax Films?

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Sept. 18 (Bloomberg) -- Colony Capital Founder and CEO Tom Barrack discusses his role as Miramax Chairman and the importance of getting content online. He speaks with Adam Johnson and Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)

You are chairman of miramax films.

What are your plans for the company?

I need to build a little cottage and bungalow for myself and a parking space.

We talked about it before.

It is an exciting roadway of connectivity between digital and linear and what content means.

If you look at the amount of online viewers who are now watching you on the internet -- you can see it.

Bloomberg.com/tv.

You are right.

It is all about content and distribution methods have changed.

Totally.

The antique distribution methods are getting out of the way slowly.

The new tight ends, if you look at the best guys in the business -- the new titans, if you look at the best guys in the business, bob eiger -- bob iger at disney.

You used to have theatrical as the only mechanism.

Then you had dvds.

Then you have showtime, hbo, netflix, on and on.

They are all bypassing the old distribution.

How do you monetize it?

You have this wonderful library.

How do you monetize that in new media or places like that clicks, paying enough -- like netflix, paying enough for it?

What it needs is more content, sooner, quicker, better.

The portfolio that we are the beneficiaries of is unique.

It was not sold internationally before.

We are harvesting that portfolio.

We are making new productions because everybody wants to go direct.

The people who are in streaming are saying we are no longer willing -- no longer going to rent your silo from comcast.

If you have apple or amazon or hulu or directv or netflix, they are now looking and saying we will do a creative deal directly with some great creative producer.

We will do an episodic tv series direct.

We don't need to go through the studio.

We are not going to distribute theatrically.

We are not going to put it in airplanes.

We are not going to make dvds.

We will have 37 million subscribers who will pay $9.99 per month.

It is a much better model.

For you as a producer or as talent, you used only have one mechanism.

You go to mgm and the head of the studio likes you or doesn't like you and signs you to a contract.

Now you have 150 different intermediaries come and the hardware is everything.

You have sling box.

You can walk into a hotel room and have all your services on your pda.

You can put it up against the screen and you have everything there.

How do you now distribute information and entertainment into a hotel room?

It has been revolutionized . you used to go to a hotel room and have one instrument.

Whatever they provided.

Now you have 3, 2 phones, the ipad, six instruments going on in six hundred rooms.

Nobody has the broadband capacity.

You have to completely revolutionize the delivery system.

It is exciting.

And we are all part of it.

Tom thereafter -- tom

This text has been automatically generated. It may not be 100% accurate.

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