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Several senior television executives gathered at VarietyTV Summit to discuss the content arms race caused by the imminent launch of new streaming platforms and major disruptions in the industry following the recent wave of mega-fusions.
After the Disney-Fox merger resulted in a series of layoffs, NBC Co-President Paul Telegdy explained the changes that Comcast's acquisition of Sky has brought to the network on a daily basis.
"The transition has been excellent. There is very little friction and overlap between activities, which is always desirable in a large-scale acquisition, "said Telegdy. "You do not worry much about where their next paycheck comes from. We had a stable role, without complacency in the last 18 months. "
In terms of collaborations between NBC and Sky, Telegdy said it was still too early to say, but he stressed that they took the time to develop a "deep synergy" instead of looking for "quick wins" of content ". . "
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While NBC was preparing its own streaming platform, which was scheduled for launch in 2020, Telegdy also addressed the issue of whether the network could be overshadowed.
"The Peabad logo and what we really are is the main content engine for creating many series," Telegdy said. "Rumors about our disappearance have long been overestimated, but we came out of a very strong start."
The panel then turned around a discussion on the arms race for content that seems to intensify as more and more players enter the content sector and production values rise. ;fly away.
The executives of Netflix and HBO were not present on the panel. However, administrators took into account the amount of content produced by the former and the budget disruption caused by the latter. Starz operations director Jeffrey Hirsch said the cable company has always positioned itself as "the best thing about television" and that Netflix's impressive amount of content will not change Starz's approach.
"I think Netflix is trying to replace television, they are trying to be everything to everyone and I also think that they have done a phenomenal job to convince everyone on Wall Street, everyone in this room, that we had to spend 13 billion dollars to compete and so if you do not have that kind of money, why not just close and go home because you can not the "But it is possible to offer a premium service to everyone and that's how we were positioned, that's how we managed, and that means that our content is unique and special, we will always have a place for ourselves and we do not have to spend $ 13 billion to succeed. "
At the same time, Amazon Studios COO and co-head of television, Albert Cheng, said the streamer's approach was to look for quality and global appeal in relation to quantity.
"When you look around, everyone is spending a lot of money. I think when we get back to how we're going to approach that space, it's really the investment needed in a specific show to serve the creative and make the best version possible. When you work with creative people, it's the ultimate goal, "Cheng said. "We are not creating a lot of content, but a lot of volume, but we make sure to remind our customers why they come back every year and renew their subscription."
Showtime President Gary Levine commented on the content arms race.
"Competition has certainly resulted in increased costs," Levine began. "But I do not subscribe to the idea that the bigger it is, the better. Even with "Game of Thrones," the next day, no one said, "Holy cow, do you know how much they spent for this episode?" They talked about the story and the characters. They even made one in the dark – they could not have spent anything. Just close the lights and make a radio play.
Towards the end of the panel, each leader discussed the biggest challenges and opportunities he faces as the television landscape evolves from day to day. CMA President Sarah Barnett closed on a positive note.
"The different voices that tell stories today [are] it's so exciting and I think it's real, and I think we're all involved in a way that's not just kept but not just lip service, "she said. "We have a long way to go in many ways, but I think different people telling stories in new ways will become, and already are, the cornerstone of what reinvents storytelling in our industry."
Other panelists included Adam Lewinson, CCO of Tubi.
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