The media landscape is about to undergo a significant shift, and it's all eyes on the Paramount-HBO Max merger. This proposed deal, led by Paramount CEO David Ellison, is facing some legal hurdles, with several state attorneys general planning to sue. However, if it does go through, it will create a massive streaming powerhouse, combining Paramount+'s 79 million subscribers and HBO Max's 140 million, giving Netflix a run for its money.
In the meantime, the industry is in a bit of a holding pattern. Producers and agents are adopting a wait-and-see approach when it comes to pitching new shows, especially to HBO and HBO Max. Mergers often bring about regime changes, and no one wants their hard work to be overturned. It's a delicate dance, especially with the uncertainty surrounding the leadership of the combined streaming service.
The Impact on Programming
The merger will undoubtedly shape the programming strategies of both platforms. Paramount+ has been more active recently, after a period of being on the back burner. It's now open for business, and the industry is taking notice. On the other hand, HBO and HBO Max seem to be more cautious, with limited appetites for new content, according to some sources. However, a source close to WBD insists it's business as usual.
A Look into the Future
To get a glimpse of what the future holds, we turn to the MoffettNathanson Media Conference, where Paramount Skydance CFO Dennis Cinelli offered some insights. He highlighted the importance of leveraging the global content portfolio, including sports and premium content like CBS's procedural dramas, which perform well internationally. Cinelli also emphasized the need for local content to cater to specific markets, positioning the merged entity as a key buyer for creators.
Key Takeaways for Sellers
For those looking to pitch to Paramount+ and HBO Max, here are some key points to consider:
- Keep an eye on the executive teams and their preferences. Top agents have their MVPs, and understanding their tastes can be crucial.
- Paramount+ is looking to complement the Taylor Sheridan universe with female-driven thrillers and other genres.
- CBS's development slate and buying habits are worth exploring.
- CBS Studios' overalls are taking up significant network hours.
- Paramount+ is currently steering clear of comedy.
- HBO drama execs are interested in original ideas beyond IP.
- HBO Max can be a challenging place to sell, but a well-crafted pitch following a certain model can make a difference.
The Bigger Picture
This merger is not just about the numbers game. It's about the creative direction these platforms will take and how they will navigate the competitive streaming market. The industry is watching closely to see how these changes will impact the content we consume and the stories we tell. It's an exciting time, and I, for one, can't wait to see how this all unfolds.
