Summary David Nevins’ Billion-Dollar Post-Peak TV Gamble - Puck puck.news
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David Nevins, former Showtime chief, takes on the role of CEO at North Road Co., an independent studio benefiting from the surge in content production after the peak of TV.
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Key Points
- David Nevins, former Showtime chief, joins Peter Chernin in a private equity-backed push to fill the content void caused by the decline of Peak TV.
- The contraction of the Peak TV content bubble has created an opportunity for independent studios to gain more rights and move older shows around.
- Chernin's entertainment venture, North Road Co., launched with nearly $1 billion from Providence, Apollo, and the Qataris.
- Streaming companies should be reducing costs and abandoning the content-hoarding model of overpaying for platform exclusivity.
- Apple TV+ prevented the syndication of "Ted Lasso" with a massive check, limiting its potential value and audience reach.
Summaries
21 word summary
David Nevins, former Showtime chief, becomes CEO of North Road Co., an independent studio capitalizing on the post-Peak TV content bubble.
39 word summary
David Nevins, former Showtime chief, has joined Peter Chernin's entertainment venture, North Road Co., as CEO. The burst of the Peak TV content bubble has created an opportunity for independent studios that have been squeezed by global streamers. These
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David Nevins Billion-Dollar Post-Peak TV Gamble - Puck
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David Nevins Billion-Dollar Post-Peak TV Gamble
A chat with the former Showtime chief as he joins Peter Chernin in a private equity-backed push to fill the content void sparked by the Great Netflix Correction.
This week, David Nevins, the veteran Showtime and Paramount Global executive, became C.E.O. of investor Peter Chernins entertainment venture, North Road Co.
Photo: Emma McIntyre/Getty Images
Matthew Belloni
July 9, 2023
You dont need me to tell you that the burst of the Peak TV content bubble is being felt acutely across Hollywood. But theres a growing group that believes the contraction has actually created an opportunity for independent studios that have been squeezed by the global streamers and their desire to own
all
rights to
all
content for
all
time. And this week,
David Nevins
, the veteran Showtime and Paramount Global executive, joined them, becoming C.E.O. of investor
Peter Chernin
s entertainment venture, North Road Co., which launched last summer with a bunch of experienced execs and nearly $1 billion from Providence, Apollo, and the Qataris.
I like the Chernin thesis. With more pressure on streaming, these companies
should
be reducing costs, and, for the most part, they
should
abandon the content-hoarding model of overpaying for platform exclusivity, which would give independent studios more rights and allow the traditional studios to move older shows around. What was HBOs
Six Feet Under
doing on Max, anyway? Not much. Now itll find a new audience on Netflix, and send some cash back to Warner Discovery.
It now seems kinda silly that Apple TV+ wrote Warner Bros. Television a massive check to prevent
Ted Lasso
from going into syndication. By the end of 2023, the Apple TV+ audience will have largely watched
Ted Lasso
, and thats a show that could have syndicated and built more value over time; instead, it will essentially languish on a niche streamer.
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