Interesting perspective. It may be too late for the main content producers to turn back the clock, but it’s great that Diller’s making the point to the production conglomerates and their investors that they have allowed the game to be defined by Netflix, Amazon and Apple, to their detriment and that of their creatives.
I actually like the [Deadline piece] (https://deadline.com/2023/08/barry-diller-wga-actors-strike-media-companies-netflix-streaming-tech-giants-1235533447/) on this interview better.
Netflix induced — I would say to some degree seduced — all these companies to go into streaming to lose huge amounts of money to try and build a competitive streaming service. They degraded their investment in cable because of the effect of Netflix on cable. They degraded their investment in their broadcasting arms.
This is the best summary I could come up with:
IAC mogul Barry Diller thinks that the Hollywood studios need to “reorient” their businesses, and fast, or else face potential “catastrophic” consequences.
Now, thanks to the strikes, Diller told Swisher that he thinks next year, when the content pipeline dries up, the hit to subscriptions will be “kind of catastrophic” to every streaming service except for Netflix.
“Interestingly, two of those studios had perfectly good streaming services called HBO and Showtime,” he adds.
Instead, HBO is now a part of Warner Bros. Discovery’s Max service, while Showtime has been folded into Paramount’s Paramount+.
Last Month Diller made headlines when he said the top actors and executives should take a pay cut to try and help resolve the strike.
And he addressed the insider trading investigation over shares and options in Activision Blizzard, which Diller had acquired before the Microsoft acquisition was announced.
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