Warner Bros. Discovery (WBD) has named former BBC and New York Times executive Mark Thompson as its CEO. It comes at a time of great change for the media industry. Traditional media companies like Disney (DIS), Paramount (PARA), and Warner Bros. Discovery are seeing their cable businesses decline while they are investing a lot of money in their streaming businesses. Activate CEO Michael Wolf says all of these companies are trying to position themselves for the 'direct-to-consumer' future and, as a result, they will increase their spending on content. Several of the big streamers have started raising prices. Wolf says thinks that, in the future, viewers are going to 'churn in and out among these services, price might not be the reason that determines it. It's just more about the availability of programming on those networks and streaming services,' Wolf tells Yahoo Finance Live. When it comes to the Hollywood strikes, Wolf calls the timing of the strikes 'inopportune,' saying the 'profit pools for programming production are drying up' and that the 'revenue streams for these shows aren't necessarily settled.'
), and Warner Bros. Discovery are seeing their cable businesses decline while they are investing a lot of money in their streaming businesses. Activate CEO Michael Wolf says all of these companies are trying to position themselves for the"direct-to-consumer" future and, as a result, they will increase their spending on content. Several of the big streamers have started.
And we expect it-- at Activate, we expect it to go down into roughly 60 in the next couple of years. And at the same time, these streaming services are their big cash drains. They're very deep expenses for the next couple of years. And it's no different how long it took for each of these companies to make their cable networks profitable.
So I think that what's the bigger issue is not whether those price can be sustained. But also, they're having a lot of churn. It's very easy to watch a set of shows on Disney+ and then drop it and go to Max and watch it. So we're going to see those games go back and forth. And yes, it's going to be another reason for people to watch. But you can't get all of the games in the same place. So you're going to have to subscribe to different services. And you're going to have to keep watching them on television in order-- if you're really an avid super sports fan.Michael, we're talking about the media landscape right now.
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