Google (GOOG) Presents at Credit Suisse Technology Conference (Transcript)

Edited transcript of Google (GOOG) at Credit Suisse Technology Conference

Google’s Neal Mohan, Vice President of Display and Video Advertising, presents at Credit Suisse Technology Conference on December 2, 2014 11:15 AM ET. Following are the webcast audio and the associated transcript of the event…

 

Google (GOOG) at Credit Suisse Technology Conference – Webcast Audio

 

 

Stephen Ju – Analyst, Credit Suisse

Good morning everybody. I think we’ll go ahead and get started. I am Stephen Ju from the Credit Suisse Internet Equity Research team. Joined on the stage by the team from Google I think but we before we start we’re going to have Ellen read off the Safe Harbor statements so.

Ellen West – IR

I’ll quickly cover the Safe Harbor. Some of the statements we make today may be considered forward-looking including statements regarding Google’s future investments, our long-term growth and innovation, the expected performances of our businesses and our expected level of CapEx. These statements involve a number of risks and uncertainties that could cause actual results to differ materially. Please note that these forward-looking statements reflect our opinions only as of the date today and we undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events. Please refer to our SEC filings for a more detailed description of the risk factors that may affect our results.

Stephen Ju – Analyst, Credit Suisse

I am joined on the stage by Neal Mohan who is the Vice President of Display and Video Advertising. So thanks for joining us Neal and welcome.

Neal Mohan – VP, Display and Video Advertising

Thanks for having me.

Stephen Ju – Analyst, Credit Suisse

Great. So I don’t think investors are as familiar with you. I think the industry players are familiar with you, but I don’t think they are as familiar with you. But I think of you as the guy who built the entire display stack at Google. But will you talk a little bit more about your background as well as at DoubleClick and what do you do on a day-to-day basis?

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Neal Mohan: Sure. So I’ll do that fairly quickly. So my name is Neal Mohan, I am responsible for what at Google we call display and video advertising products, which are generally speaking those products out of our core search ads set of products, so outside of the ads that we run on google.com. And so my portfolio includes advertising on YouTube across the Google display network, our AdSense sites and of course our DoubleClick platform, our programmatic solutions both for the sell side, the publishing side as well as for the buy side, the advertiser and agency side.

I came to Google when we sold DoubleClick to Google about nearly coming up on seven years ago now, with really as Stephen said the purpose of building out a display and video advertising business and capability for the company which is what I have been responsible for and leading over the course of the last several years.

Stephen Ju: Got you, so seven years on now, it’s a lot of water under the bridge now. But what do you think were the most crucial sort of product developments for Google in that meantime? And where do you think you still have a lot of work to do?

Neal Mohan: Yes I mean I think that when I started — when we at Google really started sort of growing the display and video business, it was nascent – AdSense which is kind of the kernel of our display business was around. We were working with publisher websites but putting together I think sort of the deep relationships and customer expertise that we had on the DoubleClick side of the business with sort of Google technology and the scale as represented by AdSense and AdWords into kind of a unified offering that works for 2 million plus Web publishers, app developers from the smallest sort of blogs and app developers to multi-media sort of publishing conglomerates on one end and then having a solution that caters to the smallest mom and pop advertisers via our AdWords on display offering to the largest agency holding companies via our DoubleClick suite on the high-end.

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Having that sort of comprehensive complete solution, I think has been our largest accomplishment and throughout that process we’ve remained very focused on one thing, which is what do our customers need, both on the buy side and the sell side, how can we deliver to them a comprehensive solution across display, video, mobile, search et cetera. And that’s what we’ve been focused on. And so that’s been I think sort of the kernel or sort of the key ingredients of our success over the course of the last seven years.

In terms of kind of new opportunities, I think one of the areas that I am particularly interested in and that we’re very focused on is really cracking the brand advertising nut for digital. And so if you think about sort of the overall sort of display or overall advertising pie globally there’s estimates between $600 billion to $800 billion, digital predominantly has addressed about one-half of that which is the direct response portion of the pie. And so the opportunity before all of us is that other half of the pie which is brand advertising, predominantly spends on television today, but that represents a huge opportunity not just for Google but for all of our publisher and advertiser and agency partners, and so that remains something that I am extremely excited about. We’re obviously very focused on that with properties like YouTube, our programmatic buying solutions et cetera. And I think that’s where you’ll see a lot of product innovation in the years ahead.

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