WarnerMedia is one of the largest entertainment corporations in the world. Featuring huge names such as HBO, CNN, Warner Bros. and a vast array of other properties, the media giant has been incredibly successful for a very long time. However, as the industry continues to change, this huge business must evolve its model to keep with the times. Today therefore, in an incredibly important press release, WarnerMedia have announced a series of changes that could redefine the content that is produced and the methods in which it is distributed.
There are a number of leadership changes across a variety of the platforms that WarnerMedia owns, including at a senior level with Bob Greenblatt taking on the role as Chairman for WarnerMedia Entertainment and Direct-To-Consumer, overseeing HBO, TNT, TBS and TruTV as well as the upcoming WarnerMedia streaming service. Other notable changes include a new global kids and young adults business which will take film, TV and games under one banner and is headed up by Kevin Tsujihara, as well as the movement of Gerhard Zeiler who steps up as the Chief Revenue Officer. There will also be larger structural changes to streamline the business, such as putting all News and Sports properties in one division, with Jeff Zucker looking after this field.
WarnerMedia CEO John Stankey had this to say on the changes: “We have done an amazing job establishing our brands as leaders in the hearts and minds of consumers. Adding Bob Greenblatt to the WarnerMedia family and expanding the leadership scope and responsibilities of Jeff, Kevin and Gerhard – who collectively have more than 80 years of global media experience and success – gives us the right management team to strategically position our leading portfolio of brands, world-class talent and rich library of intellectual property for future growth.”
Many of these changes are to help the business move into a position that is still competitive with today’s market, especially alongside the increasing pressures from streaming services. It is also an attempt to modernise the corporation, with some long term contributors stepping down from their roles. This shakeup could therefore be crucial in maintaining WarnerMedia’s current status in the industry.