There are all kinds of great examples from the past on why this is a news story. The current news-worthy story is this:
Four years ago the Streaming organization was set up, building on CBS All-Access, launching Paramount+ and continuing the great work on Pluto TV and Showtime. In that time there have been multiple rounds of changes including Paramount+ and Showtime being merged.
This organization was always intended to be a loss-leader, but surprised everyone by achieving profitability way before it was meant to, with $470M of profits last quarter.
The streaming marketing teams and creative teams have seen their work lauded with awards.
The investment has proven to be worth it.
However the 3 CEOs don’t represent the streaming parts of the organization. These CEOs have chosen to downsize the organization before the new owners come in. (It feels weird this is needed when a billionaire is selling to another billionaire but ok, sure.) And they’re choosing to gut the very part of the organization that had proven to be succeeding.
And, it’s the way that they’re going about it which is unfair. They’re choosing their own people to run things. People who aren’t specialists in their roles. People who don’t have much experience doing the scope of the work. The streaming team was put together to do the work which is demanded by the pressures of modern business, and they’re excelling at it, but these experts are being forced out. The ones highlighted in this post are being elevated when they don’t deserve it.
Currently we are seeing folk being asked to work on projects who haven’t even watched a second of the shows in question, replacing those who have been deeply embedded with the shows for many years. Press, marketing and strategy employees who have built up years of relationships with producers being replaced by friends of executives who don’t understand the history. Teams who don’t understand the needs of marketing the shows being asked to replace experts who do.
Coupled with the poisonous nature of some of the executives in charge and the other news stories on this thread, you can see why the wrong people are being put into power.
And there is no one fighting for the successful teams - there is no one representing Streaming.
This is a wrong that needs to be righted before paramount loses the talent to do the work needed to survive. If not, Sky Dance will have bought a much poorer organization that the one it initially invested in.