Paramount CEO Jim Gianopulos kicked off the Bank of America Merrill Lynch Communications & Entertainment conference by asserting that the streaming wars are a boon to the studio. The influx of …
kicked off the Bank of America Merrill Lynch Communications & Entertainment conference by asserting that the streaming wars are a boon to the studio.
Moderator and BofA Merrill analyst Jessica Reif Ehrlich noted the turnaround at Paramount on Gianopulos’ watch. The year before the longtime former Fox exec came through the Melrose gate in 2017, the studio had booked an operating loss for the year of $445 million. “That’s about as dark as it gets, particularly for a major studio,” Gianopulos said. “Those numbers should never exist.”
Direct-to-consumer streaming, he continued, “may blur the lines between what was Pay-1 [premium cable] and free TV [ad-supported cable or broadcast] because that sort of flows together. It’s not clear yet whether these companies would exploit their content on their DTC platform and then go outside and give it to a free TV third party, or just keep it and have it continue to be part of the consumer offering.
One less dramatic scenario, he added, would be a shortening of the primary theatrical window, which could be “a way to take some heat off the issue. … No one wants to go to war.”
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