Chernin: “Trust me there is a helluva lot of disruption coming. Those who don’t figure that out won’t be here in 3-4 years.”
Chernin warns the Hollywood dealmakers of tech giants: “Their desire is to build these platforms to scale and figure out how to squeeze margin out of these platforms. In a much more opaque world, how do you make sure talent gets paid for the growth of these platforms?”
He’s got a production company to protect, so Chernin is bearish on the walled ecosystems just producing for themselves. “I believe that’s bad for creativity. Creativity flourishes in a certain amount of chaos. They’d be better served buying the best content wherever they could.”
Chernin doesn’t see the tech giants acquiring a media conglomerate. “The 4 big FANG companies couldn’t get a big deal thru regulatory. They can’t buy anything big. Nobody is going to let those big tech companies buy Disney or Comcast.”
Chernin’s initial reaction upon hearing Rupert Murdoch had sold to Disney: “I was as shocked as anybody. I think he woke up and said, I don’t think I have the scale to be competitive at that level,” he said alluding to tech companies who can treat content like a loss leader.
More quotes from Chernin re: Hulu history at today’s @Variety event. His frustration with his former employer is pretty striking.
Full coverage here via @elainelow: variety.com/2019/tv/news/p…
Full coverage here via @elainelow: variety.com/2019/tv/news/p…
