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The Verge: Streaming was part of the future — now it’s the only future
Over the last year, if an entertainment conglomerate hasn’t announced a shift to focus on streaming, does it really count as an entertainment conglomerate?
With the end of the year in sight and the entertainment industry crowded with streaming options, legacy companies are making big bets on their new services, using public executive shake-ups and declarations of digital-first importance to make their point heard. Streaming isn’t just a part of their businesses; it’s their future.
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“If you are going to differentiate yourself, every incremental dollar you can put into the development of that content becomes important,” Greg Portell, head of global consumer industries at consultancy firm Kearney, said. “That means a lot of these companies that have gotten bloated over the years, and they really need to stream that down.”
The bottom line is that if all these companies want to be in on streaming, it means they have to slim down and abandon other parts of their business that have become dinosaurs. In many cases, that means shedding cable networks. In others, it’s layoffs to target redundancy. Disney, WarnerMedia, NBCUniversal, and ViacomCBS have shown no sign of trying to fight the future — now they just have to determine if they can find a seat at the table. Portell calls it a true “game of winners and losers.” In the midst of great acceleration affecting every industry, Portell also said it’s adamantly clear, “we’re about to see who those winners are much more quickly.”
Four major entertainment conglomerates undergo big restructures
The Verge: Streaming was part of the future — now it’s the only future Oct 28, 16:44
thats why studio IP films will have their budgets cut in half if stormgod gets his wish {nm} Oct 28, 18:13
One way to slim down is to quit paying consultant firms {nm} Oct 28, 23:17
