Gunnar Wiedenfels says rival studios and tech giants have followed suit by curtailing “streaming exuberance” in their own businesses.
Warner Bros. Discovery Tweaks Executive Pay, David Zaslav and Other Execs to Get Bonuses Based on Free Cash Flow, Debt Reduction
But the WBD finance chief bristled at the suggestion that the combined media entity was spending less money on content compared to what was expected from the two companies pre-merger. “I want to clarify something: I view this as having shaved off that excess. We didn’t abandon anything that made sense strategically, or financially,” Wiedenfels said of the reduced content spend for his studio post-merger.
“We got a lot of criticism, especially in the press at the time. At this point, I think a lot of our peers and others in the industry have kind of made similar decisions. So we haven’t abandoned anything that made sense, and we’re very committed to continuing to invest,” he added as rival studios and tech giants have followed suit on cost-cutting as they curtailed what he called the industry’s “streaming exuberance” over the last decade.
In the process, the industry has got back to a more rational managing of old and new media in the pivot to the streaming era. “There’s a reason why for decades the entire industry looked at a number of exploitation windows, adequately prices to optimize the return on investment. And we’re returning to that,” Wiedenfels said.
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