Legacy companies are making massive structural changes in record time: 'Things are going to be very bumpy and ugly.'
Veteran execs Bob Greenblatt and Kevin Reilly were both ousted in the WarnerMedia reorganization that rocked the industry Aug. 7.
Disney, NBCUniversal and WarnerMedia have a big stake in protecting theatrical windows, licensing fees and syndication deals that still throw off billions in revenue, while Netflix has become a behemoth that doesn't have to concern itself with those conventions. In the TV business, Reilly says, "We're still sitting with a Nielsen rating measuring L3 [live plus three days of delayed viewing] and they're putting up whole shows without commercials and nobody is measuring it.
That on its own might be unsettling to some . Meanwhile, a big piece of the NBCU puzzle is missing: Lazarus has not yet named a head of entertainment programming, a major job that encompasses the NBC broadcast network, cable networks and Peacock streaming service. The idea is to create a centralized development team that will decide what content goes where, opening up the question of how much power creatives will have to determine the fate of their projects.
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