“I Can’t See It” – KristenBellTattoos.com

Endeavor Group Holdings CEO Ari Emanuel says pledges from many media executives to cut content costs amid a broader rethinking of streaming have not affected his company so far.

He acknowledged that part of the discrepancy is due to the time it takes before the current economic malaise and promises of austerity kick in in the production process: he estimates about two years for feature films and a year for the television business. But overall, Emanual has cast doubt on the idea that companies involved in the fierce battle for streaming supremacy – because they’re also protecting legacy businesses – will be able to take off the gas pedal.

“Not to burst anyone’s bubble, I don’t see it,” he said, speaking at the Goldman Sachs Communacopia & Tech conference. “I don’t have a client in this space.” Prices for episodic shows—both new and library—remain high, he said, with one recent [unnamed] The series deal, brokered by WME, nets $17.5 million per episode. “The last time I checked, this is more than previous budgets,” he said.

“No Home Runs Like It Used To” – massively profitable shows like Friends or Seinfeldwhose multi-billion dollar income came from syndication and other outdated business models, but “there are singles and doubles and over 900 shows, so you do a lot of singles and doubles,” said Emanuel.

Netflix, Warner Bros Discovery and Disney are among the companies whose executives recently took some version of the austerity pledge. All of them continue to fight bitterly with Apple, Amazon and several other streaming players, and most industry watchers expect only the fittest to survive.

Netflix, which continues to lead the industry with over 220 million subscribers, recently gained attention when it said it plans to keep the line at its current spending level of around $17 billion a year. Over the years, Netflix has continued to pour more and more money into content, to the dismay of some investors frustrated by the company’s long-standing reliance on debt as a funding tool. Warner Bros Discovery CEO David Zaslav also highlighted the fact that the newly merged, debt-laden company is “not trying to win a spending war.”

While Endeavor has long targeted a wider range of assets – Emanuel said streaming revenues make up “less than 2%” of the company’s total revenue – the consistent sales market is a plus.

The chief executive pointed to Disney’s recent disclosure that he expects total content spending – across sports rights and other verticals – to hit $33 billion in fiscal 2022. “If ‘moderation’ is $30 billion, please give me more,” he said. “They also need to protect ABC and their cable channels. Same with Zaslav and Warner Bros., same with Peacock. The only thing they pay attention to is premium content.”

Because streaming services need a lot of programming to attract and retain subscribers, this “bodes well for me,” Emanuel said. “I’m an arms dealer here. The growth in streaming has helped WME increase revenue by double digits every year for the past 11 years, with the exception of 2020, which was hit by Covid.

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