WarnerBros. Discovery CFO says that the company is done removing and canceling content
Warner Bros. Discovery's CFO says that the write downs are done and they're focusing on relaunching and building in 2023. Gunnar Weidenfels talked at a Citibank conference and The Hollywood Reporter has the comments that he made about their recent moves in removing content and canceling programming. Such maneuvers have come under heavy fire from both fans of the shows affected and the creative teams that put their hearts and souls into these shows and movies.
"We're coming from an irrational time of overspending with with very limited focus on return on investment, and I think others are going to have to make some adjustments that we frankly have behind us now," Weidenfels said."We have every intention to continue spending, content is the lifeblood of this company. It's obviously a hit-driven business, you win some you lose some.
"The idea of collapsing seven windows into one and selling it at the lowest possible price doesn't sound like a very smart strategy. And I think there was this partly capital market-fueled phase of land grabbing, and you couldn't lose enough money and couldn't grow subscribers fast enough. I think that's behind us," he continued."If you look at trend lines over the past 20 or 36 months, a number of players have started gradually bringing up prices.
What Is The Path For Warner Bros. Discovery Going Forward?Here's what CEO David Zaslav had to say about his decision to cut so many programs viewers held dear."Casey Bloys was able to look at all the content on HBO and when 37 series went away...He was able to look over the last year and a half, what are people watching and what are they not watching? Where are people spending time? Where are they being nourished?" Zaslav argued.
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