Binge Times - Dade Hayes

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Here is a summary of the preface:

The preface discusses how the COVID-19 pandemic led to widespread shutdowns of schools, businesses, and public places, forcing people to stay home. This led to a surge in streaming entertainment as people looked for things to watch while quarantined. The author notes that while traditional TV initially saw a boost from news coverage of the pandemic, its limitations were quickly exposed as productions shut down and live events were cancelled. In contrast, Netflix and other streaming services thrived, offering thousands of on-demand shows and movies. The pandemic underscored the indispensability of streaming in modern life. People not only watched more, but work, school, religious services, and entertainment all shifted online. The preface conveys how the pandemic accelerated existing trends toward streaming while also revealing its necessity as both an entertainment escape and virtual public square.

• The book originally aimed to document the major new streaming services (Apple, Disney, HBO Max, Peacock) launching within a 7-month period in late 2019/early 2020, as well as mobile-only Quibi.

• It was intended to chronicle the streaming “wars” and digital transformation of the entertainment industry.

• The COVID-19 pandemic hit halfway through writing, massively disrupting the entertainment and tech industries.

• Streaming became even more significant during lockdowns, though marketing and acquiring customers was less essential than public health efforts.

• Each company faced unique circumstances - for Apple, streaming was small compared to other priorities; Quibi’s mobile premise was undermined by lockdowns.

• Traditional media faced tough choices about continuing heavy investments despite loss of revenue from theaters, live sports, etc.

• Some adapted by breaking long-held industry practices like theatrical release windows, putting films online sooner.

• The landscape seemed familiar yet totally altered, like walking in a neighborhood during lockdown. The book captured a pivotal moment of massive change in entertainment.

• The Game of Thrones season 8 premiere at Radio City Music Hall marked the end of an era for HBO. The network was undergoing major changes after being acquired by AT&T.

• HBO’s longtime CEO Richard Plepler was noticeably absent from the premiere. He had already packed his office and was leaving the company after 28 years.

• AT&T executive John Stankey was now in charge of HBO and planning major restructuring. Stankey, nicknamed “the Cowboy”, had a very different management style than Plepler.

• Stankey’s mission was to redefine HBO and compete with Netflix, which had surpassed HBO in popularity and Emmy wins.

• There was a sense of unease and transition at the premiere, despite the fan excitement. HBO was losing its autonomy and creative freedom under AT&T. Many longtime employees were leaving.

• The extravagant premiere marked the end of HBO’s golden era of prestige TV. The network faced an uncertain future under new corporate ownership focused on the streaming wars.

• AT&T held a flashy premiere for Game of Thrones’ final season at Radio City Music Hall, showing off its big-budget acquisition of Time Warner. But AT&T CEO John Stankey admitted he hadn’t actually watched the show yet.

• Major media companies like NBCUniversal, Disney, WarnerMedia, and Apple are investing billions to challenge Netflix with their own streaming services. They can afford the losses in the short-term that tech companies tolerate.

• The increasing competition is forcing an evolution in the entertainment industry landscape. Legacy media companies are having to change to compete with tech giants like Apple.

• Apple held a glitzy premiere for its flagship show The Morning Show, starring Jennifer Aniston and Reese Witherspoon. It signified Apple’s expensive entry into original streaming content. But Apple has clashed with creators over sensitive content. It wants uncontroversial programming, unlike edgier shows that drew creators to Netflix.

• The major media companies face challenges in competing with Netflix’s head start while also financing their traditional content businesses. But NBCUniversal CEO Steve Burke believes the playing field will level out as Netflix loses its monopoly position.

• Apple’s The Morning Show started out as a more straightforward drama about morning TV news, based on the book Top of the Morning. But after high-profile sexual misconduct scandals involving Matt Lauer and Charlie Rose, the show was redeveloped to tackle gender issues and the #MeToo movement. This required major rewriting and revamping under tight deadlines.

• The Morning Show premiere demonstrated Apple’s willingness to spend big on talent and production values. The show constantly featured Apple products and services, drawing laughs from the industry audience. But reviews were mixed.

• The premiere of Netflix’s The Irishman also had high stakes, as Netflix aimed to quickly move the prestige film from festivals to brief theatrical release to global streaming. This signaled Netflix disrupting the traditional drawn-out rollout for prestige films.

• The Irishman’s premiere drew an elite, star-studded crowd who praised the film. Netflix has invested heavily in original films to boost subscriptions, spending up to $15 billion in 2019 on content. The company continues aggressively disrupting television and now films, though it still has room to grow, accounting for just 10% of global TV viewing time.

Here are the key points from the excerpt:

• In April 1993, filmmaker David Blair presented his experimental film Wax, or the Discovery of Television Among the Bees - the first feature-length film streamed online.

• The screening took place in a room at the General Motors building in Manhattan, with the audience watching on their computers.

• The film was streamed over the internet’s multicast backbone (MBone), using an early Silicon Graphics machine and a T-1 dedicated phone line.

• This was just 4 years after Tim Berners-Lee conceived of the World Wide Web, so streaming video over the internet was groundbreaking at the time.

• Blair had struggled to get traditional theatrical distribution for his avant-garde film, so this online streaming represented a new platform.

• The makeshift screening room with exposed insulation resembled “a cheap Russian space suit” to Blair.

• It far exceeded the most daring office activity at the time - watching someone brew coffee.

• The technology required to stream a feature film in 1993 pushed the limits of computing power available.

• The article traces the history of streaming video, beginning with Mark Blair’s 1992 film Wax: The Discovery of Television Among the Bees. Blair streamed the film online in what was likely the first internet movie broadcast.

• Early streaming technology was rudimentary, with blurry, low-resolution video. But it marked an important milestone in the development of digital video.

• In the 1990s, companies like RealNetworks, Broadcast.com, and Netflix began using streaming to deliver audio and video content online. This helped make streaming mainstream.

• Jonathan Taplin, a film producer, recognized the potential for on-demand digital video to revolutionize movie distribution. After seeing a demo of video delivered via phone line, he wanted to offer consumers more rental options than just going to Blockbuster.

• Taplin co-founded Intertainer in 1996 to provide streaming entertainment services. But it was ahead of its time, constrained by limited bandwidth and lack of quality content. The company went bankrupt in 2002.

• The groundwork laid in the 1990s and early 2000s by these streaming pioneers enabled the rise of today’s major streaming platforms like YouTube, Netflix, and Amazon Prime Video.

Here are the key points from the passage:

• Hollywood was founded by ambitious Jewish immigrants who built a fantasy factory in the desert. They were seen as “new money” compared to the Eastern establishment.

• Jack Warner personified this new class - he converted his mansion into an ersatz Monticello with amenities like a bowling alley and golf course.

• Billy Haines was an openly gay actor who became a renowned interior designer when his acting career was cut short. He designed homes for stars like Joan Crawford and Ronald Reagan in the Hollywood Regency style.

• Ryan Murphy’s Netflix show Hollywood featured Haines as a character. It was produced at Netflix’s headquarters building called Icon on Sunset Boulevard.

• Icon represents how Hollywood is now dominated by technology companies like Netflix rather than the old studio system. It signals a shift in Hollywood’s center of gravity away from the traditional studios towards streamers and tech giants.

• Netflix’s sleek, modern headquarters building called Icon reflects its status as the leading force in streaming video. The building’s minimalist facade evokes a sense of the digital, like the Netflix home screen.

• Icon sits in a gentrifying neighborhood near historic Hollywood soundstages and theaters, signaling Netflix’s role in the entertainment industry. The company has invested in restoring iconic venues like the Egyptian Theatre.

• The lobby of Icon serves as a new hub for the entertainment industry, with A-list stars and filmmakers regularly visiting. It represents Netflix’s preeminence, with so much talent and content flowing through.

• Netflix started much more modestly in the 1990s, with the two founders brainstorming ideas while commuting. The late-fee inspiration is a simplification; in reality, they arrived at the DVD-by-mail model after testing many concepts.

• They proved the viability of mailing DVDs by sending a test disc through the postal system unsleeved in an envelope. With $1.9 million in funding, the startup then took off.

• Netflix was founded in 1998 by Reed Hastings and Marc Randolph as a DVD rental and sales website, when there were limited options for buying/renting DVDs online.

• The company struggled initially, competing with Amazon and facing high costs for DVDs and shipping. After considering selling to Amazon, Netflix pivoted to a subscription model in 1999, allowing customers to rent unlimited DVDs for a monthly fee without due dates or late fees.

• This new model quickly attracted subscribers, aided by Netflix’s recommendation engine and online community features. But the company still faced challenges after the dot-com bubble burst in 2000, laying off a third of its staff.

• As DVD players became popular, subscriptions surged, allowing Netflix to go public in 2002. Reed recruited executives like Ted Sarandos to join the team. Sarandos had retail video experience and an encyclopedic knowledge of film.

• Hastings and Sarandos made an unlikely pair - Hastings was privileged while Sarandos came from a working-class background. But they shared a vision to build Netflix into a streaming giant, steadily expanding its content library and subscriber base in the 2000s before the launch of streaming in 2007.

Here is a summary of the key points about Reed Hastings, Netflix, and the company’s culture:

• Reed Hastings grew up in an affluent Boston suburb and attended elite schools, but chose to go to Bowdoin College in Maine instead of an Ivy League university. He spent two years in the Peace Corps before getting a graduate degree at Stanford.

• At Netflix, Hastings collaborated successfully for over 20 years with Ted Sarandos, who ran the creative/content side of the business from Los Angeles while Hastings oversaw technology and operations from Silicon Valley. This allowed Netflix to build relationships in Hollywood.

• Hastings co-created the Netflix Culture Deck, which outlined the company’s unorthodox management practices like radical transparency, sunlighting mistakes, 360-degree reviews, and the “keeper test” for firing even good employees to get great ones. This environment encourages risk-taking and innovation but has drawbacks like office politics and fear.

• Key aspects of the culture are hiring “rock stars,” paying them generously, giving them autonomy, and demanding accountability through constant blunt feedback. The belief is this nimble structure helped Netflix adapt to massive industry changes.

• Hastings has applied the keeper test ruthlessly, even firing close friends and original team members like Neil Hunt and Patty McCord, one of the culture deck’s creators. This approach keeps Netflix dynamic but can be jarring for employees.

• Netflix pioneered a data-driven, personalized approach to understanding consumer preferences, setting it apart from Hollywood studios that focused on mass marketing tactics.

• Netflix launched its first recommendation algorithm Cinematch in 2000 and held a contest in 2006 to improve recommendations, attracting top tech talent. Recommendations evolved as Netflix shifted from DVDs to streaming.

• CEO Reed Hastings had the foresight to see that Internet speeds would improve allowing for streaming. He focused on transitioning Netflix’s delivery from DVDs to streaming video.

• Netflix had to delicately negotiate with studios to secure streaming rights, overcoming demands that were technically or commercially unfeasible.

• Netflix launched streaming in 2007 despite technical limitations to get ahead of the shift to online delivery. The DVD business sustained Netflix financially during the transition.

• Amazon and Apple also moved into online video delivery around 2006, but Netflix differentiated with free streaming for DVD subscribers.

• Early streaming efforts were modest with a small team and library. Netflix partnered with Anthony Wood who advocated for a streaming device connecting internet to TVs.

• Netflix began developing its own streaming device called the Netflix Player in 2007, code-named Project Griffin. However, CEO Reed Hastings pulled the plug before launch out of concern it would complicate relationships with hardware partners like Apple. The hardware operation was spun out into Roku.

• In 2008, Netflix made a $90 million, 3-year deal with Starz for streaming rights to Disney and Sony movies. This represented a big bet for Netflix’s growing streaming service. More deals followed to expand the streaming library.

• Streaming was offered as a free add-on for DVD subscribers at first. Eventually Netflix realized it needed to charge for streaming, leading to the disastrous 2011 decision to split the DVD business into Qwikster. This caused Netflix to lose millions of subscribers and its stock to plummet.

• Disney licensing deals in 2012 and beyond provided Netflix with content that would become very popular on the service, even as Disney supported a disruptor. When Disney announced it would pull its movies for its own streaming service in 2017, Netflix had already greatly benefited from years of access.

• Meanwhile, Netflix began financing its own original content, led by Ted Sarandos and Cindy Holland. While Hollywood underestimated the threat, Netflix built up a large subscriber base and content library.

• Lisa Nishimura joined Netflix in 2007 to help acquire streaming content. She had previously worked at a DVD delivery startup called Kozmo.

• In 2012, Netflix was offered the chance to produce an original series - House of Cards. Nishimura advocated for it, recognizing the talent involved like David Fincher and Kevin Spacey.

• Netflix made an unprecedented $100 million deal for 2 seasons upfront. This was a risky but potentially game-changing move for the company’s original content ambitions.

• House of Cards debuted in 2013 as a landmark moment for Netflix. It established the service as a prestige TV provider and pioneered releasing all episodes at once.

• Other early originals like Lilyhammer, Orange is the New Black and Narcos further bolstered Netflix’s original content.

• The decision to produce House of Cards reshaped Netflix and the industry. It gave Netflix global ambitions to challenge incumbent studios and networks.

• Each Netflix original now starts with an audio cue based on the “double knock” sound from House of Cards, cementing its legacy.

Here is a summary of the key points in the section:

• HBO held a lackluster premiere party for Game of Thrones in New York after years of throwing lavish events. This was likely due to cost-cutting pressures under new owner AT&T.

• AT&T had just closed its acquisition of Time Warner after a lengthy legal battle with the Department of Justice. The DOJ tried to block the deal on antitrust grounds but was rejected in court.

• John Stankey, the AT&T executive now overseeing WarnerMedia, was already implementing major changes like eliminating the barriers between HBO, Warner Bros. and Turner. The goal was to cut costs and build a new streaming service.

• Debates ensued over naming the new streaming service. Research pointed to using Warner Bros. but Bob Greenblatt pushed for HBO. He won out, risking dilution of HBO’s prestige brand. This signaled AT&T was willing to leverage HBO to quickly build up its streaming platform.

• HBO executives were puzzled by AT&T’s insistence on running ads on HBO Max, given HBO’s longstanding ad-free prestige brand.

• HBO was founded in 1972 by Charles Dolan as a way to fund his ambitious cable TV buildout in NYC. It offered commercial-free premium content for a monthly fee.

• Over time, HBO cultivated a reputation for prestige programming and creative risk-taking like The Sopranos, Girls, and edgy comedy specials. Its tagline “It’s not TV, it’s HBO” captured its differentiation from traditional TV.

• However, HBO struggled to adapt to the internet era, with long periods of complacency. It was slow to launch a streaming service compared to rivals.

• HBO Now launched in 2015 as a direct-to-consumer streaming version of HBO, but was hampered by needing to match cable pricing and lacking exclusive content. It struggled to gain subscribers.

• The merger between Time Warner and AOL was a notorious failure, but didn’t seriously damage Time Warner’s entertainment assets like HBO which were thriving.

So in summary, HBO built a strong brand with bold, prestigious programming but struggled to transition to streaming due to complacency and restrictions, puzzling AT&T executives wanting to run ads.

• After the AOL-Time Warner merger in 2000, there was a disconnect between the divisions leading to missed opportunities. The merger quickly deteriorated.

• AOL CEO Jonathan Miller brought several potential acquisitions to Time Warner like YouTube, Facebook, and Netflix but they were rejected by the board and leadership who were risk-averse and wanted to protect the legacy business.

• Other missed opportunities were Hulu and aggregating Warner, HBO, and Turner content into an early version of HBO Max. Maintaining the status quo hampered innovation.

• John Stankey saw tech giants as competitors but his blunt style increased anxiety after the AT&T acquisition. Randall Stephenson made surprise announcements about WarnerMedia plans not known internally.

• The mergers and leadership turmoil led to many executives leaving. Stankey acknowledged the fraught culture while Stephenson controversially compared HBO to Tiffany and Netflix to Walmart.

• Disney portrayed itself as forward-thinking on technology under Bob Iger, citing deals with Apple’s Steve Jobs. But Disney actually struggled to adapt to the digital era, wasting $1.6 billion chasing tech fads unrelated to its business.

• Piracy forced change at Disney, just as it did in music. A Disney exec was shocked to see a pirated copy of Desperate Housewives online minutes after it aired in 2005.

• Disney was slow to embrace new models like streaming. It tried to prop up declining DVD sales with a “digital locker” service, after Netflix showed consumers preferred streaming.

• As streaming emerged, Disney clung to old models, trying to protect its business rather than adapt. It feared disruption and lacked courage.

• Competitors like Netflix poured money into original streaming content, luring away talent and outbidding Disney. Disney was complacent as the world changed around it.

• Disney finally shifted to streaming, but only after seeing the success of Netflix and others. It demonstrated a reactive rather than pioneering approach to digital.

• In 2004, an article by Chris Anderson predicted the internet would allow niche content to flourish. Disney CEO Bob Iger asked his team to examine how this could impact Disney’s mass-market content.

• This led to the “Disney 2015” strategy of focusing on fewer, higher-quality franchises and content to attract consumers faced with endless viewing options. It guided big acquisitions like Marvel and Lucasfilm.

• Disney had to balance embracing digital changes with protecting profitable legacy businesses like cable networks. Efforts like putting shows online were “respectful” of affiliates.

• A key moment came in 2008 when the recession hit and consumers considered dropping cable. The TV industry responded with ‘TV Everywhere’ - requiring cable login to view content online.

• Disney faced an internal struggle to pivot to digital while still mining profits from cable. Iger admitted leaving old profit centers is “easier said than done” when shareholders, customers, and the board expect profits.

• The summary captures Disney strategically acquiring IP and advancing digitally while still tied to profitable legacy cable business, facing the “innovator’s dilemma” Iger described.

• TV networks wanted to offer streaming of their shows online, but only to cable/satellite subscribers, not to everyone for free like Hulu. This was called TV Everywhere.

• It was supposed to keep people paying for cable/satellite bundles, but had many flaws like complicated login, repeating ads, and licensing issues with shows.

• Executives disagreed on how urgent streaming was and if it would undermine the cable bundle that was so profitable.

• Disney/ESPN eventually embraced TV Everywhere in 2013, though they still licensed lots of content to Netflix too.

• Netflix became popular partly by having full seasons of shows like Breaking Bad available on-demand, changing viewer behavior versus old TV model.

• Many viewers started “waiting for Netflix” to watch shows rather than watching live or via TV Everywhere apps.

The key points are:

• Sons failing to “stack” full seasons of TV shows in on-demand libraries pushed viewers to Netflix instead. This happened with ABC’s hit Grey’s Anatomy.

• In 2013, pay-TV subscriptions declined for the first time, signaling the unraveling of the profitable cable TV bundle. Streaming services like Netflix offered cheaper alternatives.

• Disney was slow to pivot to streaming despite some early tech initiatives like the Go Network and acquisitions like Maker Studios. Profitable cable networks like ESPN made the transition difficult.

• Organizationally, Disney executives were incentivized by short-term profits rather than long-term innovation. Early streaming acquisitions were too small to change Disney’s institutional DNA.

• The future of streaming intruded on Disney’s cable-focused business model, creating cognitive dissonance. Disney eventually decided it needed to embrace streaming directly to consumers to stay relevant.

Here is a summary of the key points in Chapter 6:

• In March 2019, Apple held a glitzy event to unveil its upcoming video streaming service, Apple TV+, with Hollywood celebrities and executives in attendance. There was anticipation but little concrete detail known beforehand.

• Apple signaled its serious streaming ambitions in 2017 when it outbid Netflix for the rights to The Morning Show, a prestige drama starring Reese Witherspoon and Jennifer Aniston. This represented a shift from Apple’s previous lackluster original content efforts.

• To lead its streaming efforts, Apple hired Jamie Erlicht and Zack Van Amburg, former Sony execs behind shows like Breaking Bad and The Crown. They were given a $1 billion budget to acquire and produce original content.

• Apple also struck deals with Oprah Winfrey, Steven Spielberg, J.J. Abrams, and other big names to make exclusive shows. The talent assembled was impressive but the library was still quite small compared to rivals.

• At the launch event, Apple finally provided details. Apple TV+ would launch in fall 2019 for $4.99/month, undercutting competitors. But the small library was seen as a weakness.

• Apple would leverage its huge device ecosystem to promote TV+ and bundle it with other services like music, news, and games. The event showed Apple was serious about streaming but underscored the challenges it faced against established players.

• Zack Van Amburg and Jamie Erlicht, former Sony executives, were hired by Apple in 2017 to lead its original video programming efforts. Their goal was to develop a small number of high-quality, “prestige” TV shows and movies worthy of Apple’s premium brand image.

• They struck deals with big names like Oprah Winfrey, Steven Spielberg, Jennifer Aniston, and Reese Witherspoon. Their first big show was The Morning Show starring Aniston, Witherspoon, and Steve Carell.

• Apple’s video efforts represent a departure from Steve Jobs’ vision for a revolutionary Apple TV set. Current CEO Tim Cook favored improving the Apple TV set-top box instead.

• Apple sees original video programming as a way to drive adoption of its TV app and subscription services. Some believe Apple is playing a long game to make the TV app the default for video consumption.

• Apple spent years developing its video plans discreetly in-house to avoid culture clashes like those following the Beats acquisition. Van Amburg and Erlicht were seen as experienced workhorses who could execute quietly.

• The executives cited the decline of Sony’s once-dominant Trinitron TV as a lesson in constantly innovating. Apple wants to keep giving customers reasons to buy its devices.

• Jeffrey Katzenberg first revealed his vision for a short-form mobile video service, called “NewTV,” at the 2017 Allen & Co. Sun Valley Conference. He aimed to raise $2 billion for high-quality 7-10 minute videos designed for viewing during brief moments of downtime.

• In early 2019, Katzenberg rebranded NewTV as Quibi (“quick bites”) and raised nearly $1 billion from major Hollywood studios and tech companies. He recruited big names like Steven Spielberg, Guillermo del Toro, and Jennifer Lopez to create content.

• Quibi launched in April 2020 with 50 shows, but quickly faced challenges. Viewing on phones was less appealing during lockdowns, and the service lacked ability to share videos or cast them to TVs. Unable to gain subscribers, Quibi shut down in December 2020.

• The rise and fall of Quibi illustrates the difficulties of disrupting entrenched players like Netflix and YouTube with an unproven mobile-only video model. Despite big investments, Quibi failed to achieve product-market fit.

• The article describes a meeting led by Jeffrey Katzenberg, founder of Quibi, a short-form video streaming startup, in Los Angeles in early March 2020.

• Katzenberg is known for his deep industry connections and obsessive work ethic. He has had a long career in entertainment, including leading studios like Paramount and Disney’s animation division.

• The purpose of this 75-minute meeting was to go over the status of unscripted shows ahead of Quibi’s launch planned for April 6, 2020.

• Katzenberg gave updates on shows, made notes, and brainstormed promotional ideas with his team. Coronavirus was a concern but he hoped Quibi’s short, snackable videos would be a welcome distraction for people.

• Quibi had raised $1 billion from investors including Hollywood studios, who got “schmuck insurance” - the ability to repurpose the content if Quibi failed.

• Meg Whitman, former eBay and HP Enterprise CEO, was recruited by Katzenberg to be Quibi’s CEO and oversee operations.

• Jeffrey Katzenberg raised $1.75 billion for Quibi, attracting interest from Hollywood creators looking for a new platform. Producer Jason Blum sold multiple projects to Quibi, as did many A-list creators.

• Quibi’s deal structure let rights revert to creators after 7 years, unlike Netflix’s perpetual rights model, which appealed to filmmakers.

• Some saw Quibi’s shift from experimental platform to mainstream content driven by the large fundraising haul and need to satisfy investors.

• Despite attracting talent, there were whispers that Quibi became a home for cast-off projects from other studios.

• Katzenberg’s reputation and the crowded streaming landscape made Quibi a target for ridicule on social media.

• Katzenberg and CEO Meg Whitman clashed over leadership styles but had to present a united front at Quibi’s CES launch.

• Several executives left Quibi amid culture clashes and power struggles between the founders.

• At the launch, Katzenberg positioned Quibi as movie-quality stories for mobile and Whitman touted the Turnstyle tech that optimized video for portrait/landscape.

Here is a summary of the key points in the passages:

• Matt Strauss grew up obsessed with being able to watch cartoons on demand. He recorded shows on VCR tapes to create his own library and catalog.

• Strauss worked his way up at ABC and then joined Cablevision, where he helped develop an on-demand video service called Mag Rack. This allowed him to pursue his passion of making TV more customizable.

• Strauss was an innovator at Cablevision, working on digital video recorders and advanced set-top boxes. But he felt limited by the regional scope of the company.

• Strauss cold-called Steve Burke at Comcast, the largest cable provider. Burke was impressed by Strauss’s interest in the future of TV and brought him over.

• At Comcast, Strauss led new initiatives in video on demand, TV apps, and cloud DVR. These roles prepared him to eventually run Peacock, NBCUniversal’s streaming service.

• Strauss’s lifelong mission has been to make watching TV more customizable and on-demand. His personal journey tracks how the industry has evolved from broadcasting to on-demand streaming.

Matt Strauss had a vision for on-demand programming at Comcast that went beyond pay-per-view. He convinced Comcast to produce original content and package it in an on-demand service to differentiate their offerings. This ushered in a period of innovation at Comcast, with Strauss overseeing projects like the Xfinity cable system that integrated Netflix and other streaming apps.

When Comcast took full ownership of NBCUniversal in 2013, it was not inclined to disrupt itself by launching a direct-to-consumer streaming service, even as rivals like Disney did just that. But by 2017, under CEO Steve Burke, active planning began for NBCUniversal’s own service. They considered teaming up with Discovery and Time Warner but ultimately decided to go it alone.

A key insight was to make the service free and ad-supported rather than a paid subscription model like Netflix. Given NBCU’s huge ad business, preserving ads made sense. While the conventional wisdom was that TV spots were dying, services like Pluto TV and Hulu’s basic tier showed free, ad-supported streaming could work. A subscription service seemed too challenging compared to leveraging NBCU’s core ad business.

• NBCUniversal initially took a cautious approach to streaming under CEO Steve Burke, preferring to build on the company’s strengths in cable TV and broadcast rather than disrupt that business model.

• Ad-supported veteran TV executive Bonnie Hammer was tapped to lead the streaming effort, drawing on NBCU’s content library and brand legacy. The goal was to create something original but with ties to NBCU history.

• NBCU had a mixed experience in streaming - successes with the Olympics and niche sports but failures like the comedy-focused subscription service Seeso. Traditional TVstill drove major profits through events like the Olympics and hit shows.

• Other media companies began aggressively consolidating and acquiring content libraries to fuel their own streaming services. NBCU lost out to Disney in bidding for 21st Century Fox assets but acquired European satellite company Sky, gaining streaming expertise.

• In 2019 NBCU finally unveiled a free, ad-supported streaming service, taking a different approach than subscription services from competitors.

Here is a summary of the key points in the passage:

• Sports media rights are central to the streaming wars, with companies like Amazon, Apple, and others vying for premium live sports as they build out their services.

• The appeal of live sports stems from their role as the “heart” of traditional pay TV bundles, which streaming services are trying to replicate. Sports fans have historically been willing to pay high prices for access.

• Eddy Cue of Apple pursued rights to “The Match” golf event in 2018, seeing it as a way to gain live sports for Apple’s nascent streaming service and socialize with star golfers Woods and Mickelson. Technical issues marred the event.

• John Skipper, former ESPN president, provides an insider perspective on the complicated transition from pay TV to streaming. ESPN makes billions from pay TV fees and ad revenue, creating resistance to pivoting models.

• ESPN has slowly added some streaming elements like ESPN3 and ESPN+, but hasn’t put marquee content outside the pay TV bundle. Determining when and how to fully transition ESPN is an ongoing debate.

• ESPN president Jimmy Pitaro is considering taking ESPN’s flagship SportsCenter show direct-to-consumer, though no changes are imminent. This reflects the broader shift from linear TV to streaming.

• The traditional TV advertising model is seen as broken by some, as it corrupts narratives and is driven by advertiser dollars. Streaming offers more viewer control.

• While services like Netflix popularized ad-free subscriptions, advertising will likely play a role as marquee programming and mass audiences shift to streaming. Amazon in particular is growing its ad business.

• There is a reconciliation happening between subscription video-on-demand (SVOD) like Netflix and ad-supported (AVOD) services. AVOD may work for certain content types now, though not yet for costly, high-end productions.

• Sports will likely always have advertising, and streaming sports needs multiple revenue streams including ads. Dynamic ad insertion allows for more targeted ads.

• Rights costs continue to rise, but some expect a ‘reset’ as linear TV declines. However, the NFL just commanded huge sums in rights renewals, showing its enduring appeal.

Overall, advertising and subscription models are evolving as television transitions to streaming, though premium content still relies heavily on subscriptions.

Here is a summary of the key points in the passage:

• YouTube’s early popularity with user-generated content was initially dismissed as a threat by Hollywood. But when clips of TV shows started going viral, networks took notice.

• The $1.65 billion acquisition of YouTube by Google in 2006 alarmed traditional media companies. They worried about losing control over their content.

• NBC and News Corp explored launching a YouTube competitor dubbed “ScrewTube”, but struggled to get other networks on board.

• They went ahead with the venture anyway, despite internal resistance at both companies from divisions worried it would undermine their business models.

• They recruited Jason Kilar, an Amazon executive, to lead the new video platform called Hulu. He had expertise in e-commerce and consumer experience.

• Hulu faced skepticism internally, with different divisions at News Corp and NBC fearing it would disrupt their businesses. But leaders pushed ahead, seeing it as inevitable and wanting to get ahead of the curve.

• Kilar is portrayed as having a wholesome, Boy Scout image, growing up with a journalist mother and engineer father. As a child, his family life was written about humorously in his mother’s newspaper column.

• As Hulu CEO, Kilar took bold steps like changing the locks to keep out traditional media employees, and building a tech-focused team. He had a vision for reinventing TV that put him at odds with the broadcast network owners.

• Hulu was quickly successful, becoming a top video site. But its content partners started to pull back amid concerns it could hurt their business models. Tensions mounted over Hulu’s future direction.

• Kilar wrote a provocative memo seen as criticizing Hulu’s owners. This angered them, with some wanting to fire him. He left in 2013 after a lucrative stake sale, with other execs following.

• After considering selling Hulu, the owners doubled down by investing $750 million to grow it. This returned Hulu to growth, though it still faced challenges acquiring content.

• In November 2018, AT&T executives held an analyst day to present their vision for the company after acquiring Time Warner. They aimed to leverage AT&T’s distribution networks with Time Warner’s content.

• AT&T planned to launch a three-tiered streaming service in late 2019, with different price points and content offerings. The service would utilize Time Warner’s assets like HBO and Warner Bros.

• AT&T executive John Stankey outlined a “flywheel” strategy where content drives subscriber engagement, which provides data to improve the product and monetization.

• Meanwhile, AT&T had recently shut down the FilmStruck streaming service despite it meeting targets, simply to get a write-off. This upset many Hollywood creatives who saw it as a valuable service.

• Overall, AT&T aimed to leverage its distribution networks and acquire key content assets like Time Warner to drive a virtuous cycle of growth in streaming, although some early moves like FilmStruck’s shutdown caused concerns. The company still lacked specifics like pricing and branding for its streaming plans.

• Warner Bros. was seeking to save its classic film streaming service FilmStruck after announcing plans to shut it down, prompting outrage from filmmakers and Hollywood figures.

• AT&T executive John Stankey, who oversees WarnerMedia, admitted he is not a fan of film and TV content. His lack of passion for FilmStruck highlighted a cultural divide.

• Stankey believes the future is subscription streaming platforms with broad content libraries rather than niche services like FilmStruck. He aims to shift WarnerMedia’s focus to a new unified streaming service.

• Competitors like Netflix have invested heavily in original programming and have a head start in streaming. Traditional media companies face challenges pivoting their business models.

• WarnerMedia will need to break down internal silos between its brands like HBO to create a broad streaming service. There are debates about diluting HBO’s prestige brand with more mass-market content.

• AT&T plans to convert its existing pay-TV subscribers to the new streaming platform. It believes leveraging existing users gives it an advantage over other new entrants.

• Disney held an investor day in April 2019 to reveal details about its upcoming streaming service Disney+. The event was highly anticipated, as Disney has a reputation for splashy marketing events.

• Disney needed to convince Wall Street investors that the streaming service would position the company for success in the digital future, even though it required billions in upfront investment. Analysts had questions about subscriber forecasts, financial guidance, and how Disney+ would impact the company’s licensing revenue.

• There were also questions around Disney’s plans for Hulu, which it acquired through the Fox deal. Hulu had momentum with hit shows like The Handmaid’s Tale.

• Kevin Mayer, the executive leading Disney’s streaming efforts, described preparations for the event like mounting a major motion picture given the high stakes. His team worked for months on the presentation to get all the details right.

• Disney wanted to show off its content assets and generate excitement. The event included celebrities like Oprah Winfrey along with demonstrations of the Disney+ interface and trailers for new original content.

• Overall, Disney aimed to showcase its streaming capabilities and content library to position itself as a formidable competitor in the streaming wars against Netflix and other new entrants.

• Disney invested significant time and resources into developing and rehearsing the storyline and presentation for the launch of Disney+ in April 2019.

• The presentation took place in historic Soundstage 2 on the Disney Burbank lot, where classic films and TV shows were made. Actors and footage were used to highlight the breadth of content that Disney could offer with its acquisitions.

• Kevin Mayer, Disney’s head of direct-to-consumer, made the business case for streaming and framed Disney+ as the culmination of Disney’s acquisitions and ability to leverage its intellectual property.

• Mayer had long warned Disney about the threat of cord-cutting and push to move to direct-to-consumer. The Disney+ launch was a career-defining moment.

• Disney’s board fully endorsed the streaming push, telling management to “go faster.” Extensive planning went into details like the name Disney+ and how it would be positioned.

• The launch represented Disney burning bridges and fully committing to streaming over traditional licensing models. Disney sought to transition from wholesaler to retailer.

Here is a summary of the key points from the passages:

• Disney held an investor day in April 2019 to unveil details of its upcoming Disney+ streaming service. The presentation set a template that other media companies would follow.

• Disney+ would launch in November 2019 at a very competitive price of $6.99 per month, undercutting rival Netflix. Disney was willing to operate Disney+ at a loss initially, forecasting profitability by 2024.

• Disney+ would offer a massive library of legacy Disney content plus new original shows and movies from Disney, Pixar, Marvel, Star Wars, and National Geographic. It aimed to have 60-90 million subscribers globally by 2024.

• The company planned a massive marketing campaign across its theme parks, stores, TV networks etc. to promote Disney+ before launch.

• Apple held its annual product event in September 2019, unveiling some details of its Apple TV+ streaming service. It would launch November 1 with a handful of original shows.

• Apple TV+ was positioned as offering premium original content, with Apple spending over $6 billion on new shows. Early shows highlighted were The Morning Show, See, Dickinson and For All Mankind.

• Apple TV+ would be priced at $4.99 per month, undercutting most other streaming services. It adopted an aggressive promotion to offer it free for 1 year with purchase of an Apple device.

• The announcements drove Disney’s stock to record highs and dented Netflix’s stock price, showing confidence in Disney’s streaming strategy over Netflix. Apple’s stock also rose on its streaming announcement.

• At an Apple event in September 2019, Tim Cook unveiled details about the upcoming Apple TV+ streaming service, including pricing ($4.99/month), launch date (November 1, 2019), and some of the original shows like The Morning Show, See, For All Mankind, and Dickinson.

• Eddy Cue, head of Apple’s services division, gave a rare interview expressing excitement about Apple TV+ and comparing it to Apple’s previous success disrupting the music industry with iTunes and the iPod.

• Some in Hollywood were skeptical about the service launching with only a handful of originals and no back catalog of content. Questions remained about Apple’s approach to content and heavy-handed notes.

• Zack Van Amburg and Jamie Erlicht, former Sony TV executives now heading Apple TV+, worked to attract talent despite Apple’s reputed aversion to darker material. Their role shifted from selling shows at Sony to giving notes as the “network.”

• Apple applied meticulous attention to detail in shows like For All Mankind, but some agents sensed an inherent buoyancy to Apple’s shows that differed from Netflix’s edgier fare. Apple was sensitive about content that could tarnish its consumer brand.

• Quibi spent $5 million on a Super Bowl ad just weeks before the game, against the advice of their marketing team. The ad featured bank robbers distracted by Quibi and was seen as an ineffective use of money.

• Quibi later spent $10 million on Oscars ads, also deemed ineffective by the marketing team as the audience was not Quibi’s target demographic of 18-34 year olds.

• Quibi launched in April 2020 during the early months of the COVID-19 pandemic. Founder Jeffrey Katzenberg believed the service’s short form mobile videos would provide entertainment and diversion for young people stuck at home.

• However, Quibi struggled to gain traction at launch. The impact of the pandemic on an on-the-go mobile service was debated as a factor.

• Katzenberg remained steadfast that Quibi would serve a need for unique, entertaining content during stressful times. But the service failed to catch on with its target audience.

In summary, Quibi made expensive, ineffective ad buys against internal advice and struggled to gain users when it launched during the pandemic, despite Katzenberg’s belief that its short videos would prove popular entertainment during lockdowns.

Here’s a summary of the key points:

• Quibi was a mobile video startup founded by Jeffrey Katzenberg and Meg Whitman that launched in April 2020. It offered short “quick bite” videos and shows designed for smartphones.

• Quibi planned a glitzy $400 million marketing campaign and star-studded launch event, but it was cancelled due to COVID-19. The muted launch was an ominous sign.

• Downloads peaked at 1.5 million the first week but fell 57% the next week. Critics complained about lack of sharing features and being forced to watch shows on small screens.

• Quibi struggled to retain users after the free trial. Estimates were only 8-27% converted to paid subscribers, far short of goals.

• The service lacked a breakout hit show despite many celebrity-driven programs. Post-mortems criticized missteps like poor content and lack of consumer testing.

• Flaws included launching a mobile-only app when people were home watching TV during lockdowns. Competition was viewers’ existing streaming subscriptions.

• Quibi shut down after just 7 months in October 2020, failing to gain traction. Katzenberg was criticized for not listening to warnings about content and audience.

• NBCUniversal named its streaming service Peacock, a reference to its colorful logo. The name got mixed reactions, with some feeling it was silly and others appreciating it wasn’t just ”+“.

• Bonnie Hammer initially led Peacock, aiming for a mix of edgy originals like a scripted Angelyne series and reboots of classic NBC shows like Saved by the Bell. The goal was “timely and timeless” content to attract subscribers.

• As launch neared, Steve Burke brought in Matt Strauss, wanting someone with both digital and TV skills to oversee the technical launch. Strauss moved temporarily to NYC to manage the launch.

• Strauss was excited for the challenge of improving the streaming experience. He had advised on integrating Peacock into Comcast’s Xfinity platform. He saw an opportunity for NBCUniversal given its broad content assets.

• Peacock planned to leverage the 2020 Olympics for promotion. The pressure intensified on NBCUniversal to launch a viable streaming competitor amid the launches of Disney+ and Apple TV+.

• Matt Strauss, chairman of Peacock and NBCUniversal Digital Enterprises, drew on his experience at Comcast to shape Peacock’s strategy of “zigging where others zag” in the crowded streaming market. He wanted Peacock to feel timely and current like TV, not like other streamers.

• At an investor event unveiling Peacock in early 2020, NBCU positioned it as a modern version of its successful broadcast TV model - using ads to make money from reaching a mass audience. This contrasted with Netflix’s subscriber-reliant model.

• Key leaders outlined Peacock’s massive content library, free tier, limited ads, and integration of news/sports clips to emulate cable TV. The pricing and projected 30-35 million users by 2024 aimed for profitability.

• NBCU honchos expressed confidence in Peacock’s distribution prospects given its free tier and integration with parent company Comcast. The presentation sold Peacock as a comfortable, non-disruptive new NBC product, not a high-tech interloper.

• WarnerMedia held an event to unveil its new streaming service, aiming to wow attendees like Disney did for its investor day. They brought people to the Warner Bros. studio lot, highlighted the studio’s history, and teased the service’s content library.

• The event was highly produced, with Morgan Freeman narrating a trailer connecting AT&T’s history to the present streaming era. The trailer emphasized WarnerMedia’s legacy with film, TV, CNN, HBO, and more.

• WarnerMedia was launching its service HBO Max amid internal tensions. Executives like Kevin Reilly wanted a general entertainment service to compete with Netflix. But HBO leadership wanted to protect the HBO brand.

• HBO Max would bundle HBO with WarnerMedia library content and new originals. The goal was to convert HBO’s 35 million subscribers to upgrade to Max.

• WarnerMedia CEO John Stankey admitted HBO Max was “not easy to understand.” He argued it was not just a Netflix copycat but about “putting the consumer at the center.”

• The event featured sizzle reels for HBO Max originals and trailers for library shows and movies. Talent like JJ Abrams also appeared to discuss new projects.

• Analysts and reporters were impressed by the content breadth but questioned the branding strategy and tech execution vs rivals. Overall reactions were positive but cautious about its chances against Netflix and Disney+.

• WarnerMedia held an event to unveil HBO Max, its new streaming service. There was immense pressure to justify AT&T’s $85 billion acquisition of Time Warner and articulate a streaming strategy.

• WarnerMedia CEO John Stankey emphasized the benefits of WarnerMedia’s vertical integration, including using customer data to inform programming. He set ambitious subscriber goals of 50 million in the U.S. and 75-90 million globally by 2025.

• Behind the scenes, executives were anxious leading up to the event. Scripts underwent countless revisions. WarnerMedia was playing catch-up compared to Disney.

• Kevin Reilly and Bob Greenblatt, two veteran TV executives, were now working together with unclear lines of authority. Reilly expected to lead HBO Max but was surprised when Greenblatt was hired as his boss. This reflected Stankey’s closed management style.

• Greenblatt was focused on programming and eager to move from broadcast TV to prestige content at HBO. Reilly and Greenblatt had parallel careers and knew each other well, though there was uncertainty about their new working relationship.

• Bob Greenblatt was hired by AT&T to oversee content for the new WarnerMedia streaming service HBO Max. He had worked with previous WarnerMedia execs for years, but they were not thrilled to have him as a new boss.

• Picking the name HBO Max for the new service was contentious, as some felt it could dilute the prestigious HBO brand. Multiple versions of the logo were mocked before landing on a final design.

• Rushing to launch HBO Max on a short timeline was leading to technology challenges, especially after Disney acquired the tech vendor BAMTech that HBO had previously used.

• Massive restructuring at WarnerMedia ahead of the launch led to hundreds of layoffs of longtime creative execs like Richard Plepler and David Levy. This ruptured the culture and institutional knowledge.

• AT&T finance execs claimed they wanted to “protect the culture” but in reality the historic media brands were being radically overhauled and consolidated under new management unfamiliar with the business.

• Pressure mounted as Apple and Disney prepared streaming launches ahead of HBO Max, making it likely the last to market. Despite obstacles, the WarnerMedia team pressed ahead to get HBO Max ready for its debut.

• The day before WarnerMedia Day, AT&T and activist investor Elliott Management announced a truce after Elliott had pushed for changes at AT&T. Elliott agreed to give the AT&T leadership team a chance to get HBO Max off the ground.

• Brad Bentley, a longtime DirecTV executive, was given oversight of WarnerMedia’s direct-to-consumer operations. He was seen by Reilly and Greenblatt as an obstacle to HBO Max’s success due to his lack of entertainment experience. Bentley left WarnerMedia before the launch of HBO Max.

• At WarnerMedia Day, Reilly and Greenblatt announced HBO Max’s programming slate, including a Friends reunion special, Studio Ghibli library, South Park, and content from Warner Bros., HBO, TNT, TBS, etc.

• Reilly advocated for weekly episode releases rather than Netflix-style binge releases to build cultural buzz. Sarah Aubrey led HBO Max Originals with a “gut-data-gut” approach informed by both creative instincts and data.

• WarnerMedia signed deals with J.J. Abrams and Greg Berlanti, validating its position compared to tech companies entering entertainment. Abrams chose WarnerMedia over a more lucrative Apple deal because of theatrical distribution.

Here is a summary of the key points in the passage:

• Reed Hastings of Netflix appeared unconcerned about new streaming competition from Hollywood studios, saying there has always been intense competition like from Amazon since 2007. However, accounts suggest Netflix saw the competition as a real threat, leading to a frenzy of lavish spending to secure top talent.

• Netflix gained momentum during the pandemic as the entertainment choice for a homebound world, with zeitgeist shows like Tiger King and floor is Lava. It dominated awards season with Emmy and Oscar nominations and wins.

• Netflix’s protective moat was revealed as subscribers flocked to it for entertainment refuge during the pandemic. It added as many customers in the first half of 2020 as all of 2019. Revenue and earnings jumped significantly.

• Netflix doubled down on originals, planning to spend $17 billion on content in 2020. It aimed to be a one-stop entertainment shop and have something for everyone.

• Hastings said competition makes them better, though there are challenges adapting to a saturated market. Netflix is betting it can continue thriving amidst intense streaming competition.

• Netflix was firmly established as the top streaming service while rivals struggled to gain footing in the new streaming landscape. Its culture of innovation allowed it to stay ahead of larger competitors.

• When Disney announced in 2017 it would launch its own service and pull its content from Netflix, it caused concern for Netflix’s stock but internally Netflix saw it as inevitable competition that would hasten cable’s decline.

• Netflix responded by signing high-profile deals with showrunners Shonda Rhimes and Ryan Murphy worth over $150 million and $300 million respectively to develop exclusive content as media companies withdrew content.

• Netflix expanded its content across more genres and regions, investing billions in original programming to reduce dependency on licensing third-party content. It began programming for diverse tastes and going after talent to cultivate its own content relationships.

• The talent deals intensified a bidding war for top Hollywood creators as Netflix sought to replace licensed content that was being pulled back by studios for their own streaming services.

• Netflix justified the high costs of content deals through increased subscribers and viewing hours, shifting strategy from licensing content to owning content and relationships. Children’s programming deals were also made to fill the void left by Disney.

Here is a summary of the key points in the passage:

• On the launch day of Disney+ in November 2019, the service attracted huge demand but then suffered technical issues and outages. Kevin Mayer, who led the Disney+ launch, initially got positive reports of strong sign-ups.

• However, Mayer then got calls from Disney CEO Bob Iger alerting him the service was down. The outage was traced to a flaw in Amazon Web Services’ real-time customer analytics software.

• Mayer and the Disney+ team were confident of avoiding issues, having learned from previous streaming outages like HBO Now’s crash during a Game of Thrones episode in 2016. BAMTech, which powered Disney+, had experience handling peak demand.

• But the Disney+ launch generated a “tsunami of traffic” that overwhelmed the system. The outage was an embarrassing high-profile failure on Disney+‘s first day. Mayer contacted Amazon to urgently fix the issue.

• The outage showed the challenges of launching a major new streaming service even with experience and preparation. Disney+ regained service after several hours but the glitch tarnished its debut.

• Disney+ experienced major technical issues on launch day in November 2019, with many users unable to access the service. The problems were traced to issues with Disney’s app architecture and search functions.

• Disney moved quickly to resolve the issues, developing workarounds within hours. The problems were publicly attributed to the app, not to AWS which powers Disney+.

• Despite the rocky start, Disney+ signed up 10 million subscribers on day one, exceeding expectations. The service maintained strong growth, surpassing 73 million subscribers in the first year.

• Apple TV+ also launched in November 2019 but had a slower start, with estimated 10% uptake from new Apple device buyers. Reviews of its initial shows were mixed.

• Apple worked to boost Apple TV+ through awards campaigns and by acquiring films after theaters closed due to COVID-19. Sony’s Greyhound was sold to Apple for $70 million as an exclusive.

• The pandemic boosted demand for streaming overall. A year after launch, Disney+ surpassed 100 million subscribers globally. Apple TV+ gained subscribers but Disney+ saw much faster growth out of the gate.

• Apple TV+ launched in November 2019 with The Morning Show as its flagship series, but struggled initially to find its footing with a limited content slate. It started gaining traction in 2020 with shows like Ted Lasso.

• NBCUniversal’s Peacock launched in April 2020 with a large back catalog of NBC shows and movies, but without original content. Its launch was hampered by the Olympics postponement. Early sign-ups were modest.

• HBO Max launched in May 2020, later than planned due to COVID-19 challenges. Its launch lineup was impacted with only 6 originals and no Friends reunion special. But it had a deep catalog of HBO shows and movies.

• All three services faced challenges launching during the pandemic, including marketing and production setbacks. But the huge growth in at-home streaming offered opportunities amidst the difficulties. Apple and HBO in particular overcame hurdles to find success.

• HBO Max launched in May 2020 without some of its most anticipated original content, including the Friends reunion special and a new season of sci-fi series Westworld. This left HBO Max leaning heavily on the Warner Bros. library and third-party acquisitions at launch.

• The service struggled to attract subscribers in the first month, signing up just 4.1 million compared to Disney+‘s 10 million in its first day. Only 1 million were direct sign-ups, while 3.1 million were existing HBO subscribers who authenticated.

• Critics felt HBO Max had a confused brand identity with multiple HBO products and failed to have a breakout original show like Disney+‘s The Mandalorian.

• Three months after launch, WarnerMedia reorganized and ousted programming heads Bob Greenblatt and Kevin Reilly. Jason Kilar was brought in as CEO to refocus WarnerMedia on streaming.

• Kilar had digital media experience, previously serving as founding CEO of Hulu. AT&T specifically wanted an “unsentimental disruptor” to transform WarnerMedia.

• The changes were made swiftly in hopes of improving HBO Max’s traction against competitors like Netflix and Disney+. WarnerMedia remained confident in the strength of its intellectual property.

Here is a summary of the key points in the chapter:

• Tom Hanks promoted his new Apple TV+ film Greyhound on the Today show, lavishing excessive praise on Apple despite having criticized the company’s streaming release strategy just a day earlier. This highlights how major studios like Apple are using original films to gain subscribers and disrupt the industry, even convincing A-list talent to endorse their platforms.

• Movies are becoming increasingly important weapons for streaming services to attract subscribers at a fixed cost, compared to expensive ongoing series. Netflix has aggressively acquired and produced original films since shutting down its indie film division Red Envelope.

• Apple, Disney, and others have shelled out huge sums to acquire films as subscriber bait during the pandemic when theatrical releases were not viable. This “streaming first” approach is disdained by some as “TV movies” but can drive subscriptions.

• Even without theatrical releases, streaming films with stars can move the subscriber needle. Movies represent about a third of Netflix viewing despite its focus on binge series. As competition heats up, films are a key battleground between services.

• Netflix’s Ted Sarandos had early success acquiring a large volume of titles, but realized that quality was more important than quantity. In 2014, Netflix began producing high-quality original content.

• Sarandos recognized the broad appeal of Adam Sandler films despite his declining box office returns. In 2014, Netflix made a deal with Sandler’s company Happy Madison to produce 4 films exclusively for Netflix. This was their first major push into original films.

• Netflix pays talent upfront for films rather than offering backend participation based on box office or other metrics. This allowed them to lock in stars like Sandler.

• Amazon pursued a different strategy, acquiring acclaimed indie films like Manchester by the Sea to release theatrically with partners. Over time, Amazon shifted toward bigger-budget original films that appeal to mass audiences.

• Directors Joe and Anthony Russo, despite their success with Marvel, embraced streaming by making The Gray Man, Netflix’s most expensive original film at $200 million. Netflix aims to scale up with weekly original film releases.

• Disneyland suffered greatly during the pandemic, with 28,000 employees laid off and the park closed for the longest stretch in its history. This was in contrast to Disney parks in other locations that managed to reopen.

• The closure severely impacted Disney’s parks division, leading to a $6.8 billion drop in operating income in 2020.

• Other Disney businesses like the film studio and ESPN also suffered from closures and event cancellations.

• New Disney CEO Bob Chapek took over just as the crisis hit. He focused on decisive leadership and leaning into the streaming business with Disney+ to keep the company afloat.

• Chapek brought an unsentimental, business-focused approach from his consumer products background. This put him in conflict with studio creatives at times, but also led to lucrative ideas like direct-to-video sequels.

• As Disney recovers, Chapek is positioned to accelerate the company’s streaming-first strategy. This involves leveraging Disney’s wealth of IP and pivoting the company to succeed in the digital era.

• Bob Chapek rose through Disney’s ranks as a disciplined, operationally-focused executive known for cutting costs and boosting profits, though he lacked Iger’s charisma. As head of parks and consumer products, he introduced innovations like premium video-on-demand to maximize revenues.

• When the pandemic hit, Chapek drew on his experience distributing films to non-theatrical channels. He accelerated movies to Disney+ streaming and released some films like Mulan directly to subscribers for an extra fee. This alienated theater owners but kept Disney+ stocked with fresh content.

• Austerity measures during the pandemic and Chapek’s focus on the bottom line led Disney into a public relations crisis when Scarlett Johansson sued over lost earnings from Black Widow’s simultaneous theater/streaming release. Chapek brushed off settling and Disney attacked her in the press.

• Chapek reorganized Disney to put loyalists in key roles supporting his streaming focus, like Kareem Daniel overseeing content distribution.

• At a December 2020 investor day event, Disney announced a huge pipeline of exclusive content for Disney+ streaming, including Star Wars and Marvel series. The polished presentation aimed to showcase Disney’s commitment to direct-to-consumer.

Here are the key points from the passage:

• Disney announced many new Star Wars and Marvel TV series for Disney+, including shows focused on Obi-Wan Kenobi, Lando Calrissian, The Mighty Ducks, and more. The studio also planned live-action remakes of animated classics like The Little Mermaid and Pinocchio.

• Pixar’s Soul premiered on Disney+ on Christmas Day 2020, forgoing a traditional theatrical release due to the pandemic. This move demonstrated Disney’s strategy of supporting theaters while also driving streaming subscriptions.

• By the end of 2020, Disney+ had over 86 million subscribers globally, exceeding initial forecasts. The service bumped its U.S. price to $7.99 per month.

• HBO Max struggled initially, with only 8.6 million activations by September 2020. But a distribution deal with Amazon Fire TV in November gave it a big boost, along with hits like The Flight Attendant.

• The pandemic put pressure on theatrical releases in 2020. Warner Bros. brought in $4.4 billion globally in 2019, so there were concerns about losing revenue from delayed movie openings.

• Warner Bros’ release of Tenet in theaters during the pandemic was a major disappointment, losing $100 million despite director Christopher Nolan’s pleas for a theatrical release. This showed the instability of theaters in 2020.

• With theaters still struggling, WarnerMedia decided to release Wonder Woman 1984 simultaneously on HBO Max and in theaters. This was positioned as a one-time event, but alarmed theater owners.

• In December 2020, WarnerMedia announced all 17 Warner Bros films slated for 2021 would debut on HBO Max and in theaters simultaneously. This move, dubbed “Project Popcorn,” blindsided talent and producers.

• Director Christopher Nolan harshly criticized the strategy, saying Warner Bros was dismantling its movie distribution machine. Lawsuits were threatened by partners like Legendary Entertainment.

• Warner Bros defended the move as necessary given inability to release films solely in theaters during the pandemic. Settlements were eventually reached with profit participants affected.

• The goal was to boost HBO Max subscriptions. Despite backlash over content strategy, distribution improved in 2020 through deals with Amazon and Roku.

• Amazon announced a $8.45 billion deal to acquire MGM studios in May 2021, gaining access to MGM’s library of 4,000 films, 17,000 TV episodes, and franchises like James Bond that can be reimagined. The deal signals Amazon’s ambition to create a global smash hit on the level of Game of Thrones for its Prime Video streaming service.

• Amazon has perplexed Hollywood with its approach to the movie business, which seems like an odd appendage to its core e-commerce operations. It offers video streaming as a perk for Prime membership. To compete with Netflix, it has spent heavily on content licensing.

• Amazon Studios was launched in 2010 but struggled at first to gain traction in original programming compared to Netflix and HBO. Its breakout hit came in 2014 with Transparent, which helped legitimize streaming originals.

• Under Jennifer Salke, hired in 2018, Amazon Studios has refocused on big, broad appeal series and films. It has found success with projects like The Marvelous Mrs. Maisel, Jack Ryan, The Boys and Borat Subsequent Moviefilm.

• Amazon is taking a big swing at Lord of the Rings, paying $250 million just for the rights and committing to multiple seasons at a cost of over $1 billion. This signals its ambition to be a player in big-budget fantasy franchises.

• The MGM acquisition brings well-known franchises and IP like James Bond and Rocky that can help Amazon Studios create globally appealing films and shows. With deep pockets, Amazon aims to be a streaming powerhouse.

• Amazon Prime Video began acquiring content like films and TV shows to compete with Netflix’s streaming service. But it realized it needed original content to differentiate itself.

• Roy Price started Amazon Studios in 2010 to develop original content by soliciting scripts and having users vote on them. But this approach failed to produce quality shows besides one children’s series.

• Price then hired TV executives in Los Angeles to develop shows for two target audiences - upscale urban viewers and Comic-Con fans. Early successes included Transparent and Mozart in the Jungle.

• As Amazon invested billions in content, pressure grew to deliver a mainstream hit. But expensive shows like The Man in the High Castle underwhelmed.

• Jeff Bezos became more involved, pushing for content with mass appeal. He criticized Price’s failures and outlined storytelling attributes he wanted to see.

• Scandals led to Price’s ouster. Jennifer Salke was hired as new studio head and oversaw Amazon’s greatest streaming successes like The Marvelous Mrs. Maisel.

• Amazon Prime Video has evolved into a major force in streaming under the leadership of Jen Salke and Albert Cheng. Salke focused on acquiring talent and high-profile projects, while Cheng brought data analytics to help guide decisions.

• Early hits for Amazon Studios included Transparent, The Marvelous Mrs. Maisel, Fleabag, Tom Clancy’s Jack Ryan, and The Boys. The studio also invested in local-language content around the world to grow internationally.

• The COVID-19 pandemic allowed Amazon to acquire major films like Borat 2 and Coming 2 America that otherwise would have debuted in theaters. Live sports programming also became a focus.

• Amazon acquired the iconic MGM studio and its content library for $8.45 billion. This transformed perceptions of Amazon Prime Video as a mere hobby for Bezos into a potentially major pillar of the company.

• Longtime Amazon executive Mike Hopkins helped drive the MGM deal given his connections there. It provides Amazon with a wealth of intellectual property to mine.

• The evolution of Prime Video shows Amazon’s determination to be a streaming powerhouse, using video content to attract and retain Prime subscribers globally.

• The premiere of In the Heights at the Tribeca Film Festival marked the celebratory return of moviegoing after the pandemic. Lin-Manuel Miranda and the cast attended the premiere at the restored United Palace theater in the film’s namesake neighborhood.

• Unlike most premieres, In the Heights was available to stream on HBO Max right after the premiere ended, reflecting WarnerMedia’s controversial 2021 strategy to release films in theaters and on streaming simultaneously. This sparked debate about the impact on box office and talent relationships.

• The film received rapturous reviews but underperformed at the box office on opening weekend, raising questions about the viability of all-Latino casts and whether streaming availability hurt ticket sales. Other recent Warner Bros. day-and-date releases had done well theatrically.

• The streaming release strategy damaged Warner Bros.’ relationships with talent like director Patty Jenkins. Warner was still dominant at the box office but momentum may have been blunted.

• A Discovery executive at the premiere expressed optimism about merging corporate cultures after the deal closes. His presence signaled the continuing trend of media consolidation amid the streaming wars.

• 2017-2018 saw a wave of major media mergers worth hundreds of billions of dollars, including AT&T acquiring Time Warner, Disney acquiring 21st Century Fox assets, and Discovery acquiring Scripps. These deals led to thousands of layoffs as media companies consolidated.

• Viacom and CBS reunited in late 2019 after over a decade apart, looking to compete in streaming with Paramount+. NBCUniversal also launched Peacock but took a slower approach to streaming compared to rivals.

• Disney+ emerged as the most successful new streaming service, aided by bundling it with Hulu and ESPN+. Apple positioned itself as an aggregator of streaming services rather than just backing its own Apple TV+.

• WarnerMedia and Discovery merged in 2021 to form Warner Bros. Discovery, looking to combine assets like HBO Max and Discovery+ under an ad-focused strategy led by Discovery’s David Zaslav.

• Theatrical exhibition contracted with studios splitting efforts between theaters and streaming. Pay TV likely faces a gradual decline rather than sudden collapse. Overall the streaming landscape remains turbulent with continued consolidation expected.

• Streaming has led to an overwhelming amount of choice for consumers, prompting services like Netflix to add features like “Play Something” to help users paralyzed by options.

• New entrants like Struum are bundling streaming services together under a single subscription to make discovery easier.

• Despite heavy investment, streaming is unlikely to be as profitable for media companies as old business models like cable TV and movie theaters.

• Legacy media companies are struggling to adapt their culture and tactics to be more consumer-focused like pure streaming players.

• Netflix remains dominant globally with non-English language hits like Squid Game, thanks to its massive investment in subtitles/dubs and focus on authentic local stories.

• Competition from the likes of Amazon Prime Video continues to heat up, but Netflix still sets the pace in streaming. Its success is pushing rivals like Amazon to keep investing and improving their services.

Here is a summary of the key points about the size and scale of Netflix making a purchase of the streaming giant financially possible:

• Netflix and Amazon explored a potential merger in 2017, showing the massive scale and resources of the top streaming platforms.

• Netflix has over 220 million subscribers globally, making it the largest streaming service in the world. Its scale gives it unrivaled spending power on content.

• Netflix spends over $17 billion a year on content, more than any other streaming service. This allows it to outbid rivals for top projects and talent.

• Analysts expect Disney+ to surpass Netflix in total subscribers by 2024, reaching over 230 million. But Netflix will likely retain an edge in revenue due to its higher subscription prices.

• Apple, WarnerMedia, Comcast, and others have struggled to keep up with the spending power of Netflix and Disney in streaming. Their more limited resources make major acquisitions of top platforms financially difficult.

• The tech giants have massive cash reserves (Apple has over $200 billion, Amazon over $90 billion) that theoretically allow them to acquire Netflix or other major streaming services. But regulatory scrutiny of “big tech” makes such mega-deals unlikely.

• Overall, the massive scale and subscriber bases of Netflix, Disney, and Amazon give them unmatched financial power in the streaming landscape today. This allows them to shape the future of the industry through content acquisitions and production.

• The book draws on interviews with executives, technologists, producers, consultants, agents, and others, as well as the authors’ own reporting for Deadline and Forbes. It aims to provide a stand-alone narrative rather than just aggregate previous reporting.

• Major players largely cooperated, though Disney became very difficult to access during COVID-19. Apple also denied requests to speak with executives. In these cases, the authors relied on speaking with partners and former executives.

• The work of other journalists covering the media industry, as well as Twitter conversations, also informed the book. Some insiders spoke anonymously to freely discuss behind-the-scenes events.

• The preface provides quotes from Netflix’s Ted Sarandos and Amazon’s Jeff Bezos, as well as references to iconic cultural works that frame the analysis.

• Early chapters chronicle the early days of streaming, including experiments in online video in the 1990s and Netflix’s innovative DVD-by-mail service.

• Middle chapters detail the streaming wars, including AT&T’s acquisition of TimeWarner, Disney’s digital strategy under Bob Iger, and the launch of Apple TV+.

• The book relies on interviews, corporate events, earnings calls, and other primary sources to reconstruct pivotal moments in streaming’s rise.

Here is a summary of the key points from the given sources:

• Apple has made a big push into original streaming video content for its Apple TV+ service, with Oprah and other stars promoting shows at a launch event in 2019. However, some industry observers were skeptical about Apple’s ability to compete with established players like Netflix.

• Jeffrey Katzenberg and Meg Whitman founded the short-form mobile video startup Quibi in 2018 with $1.75 billion in funding. They recruited Hollywood talent to make quick “bites” of content optimized for phones. But Quibi struggled to gain subscribers when it launched in April 2020 during the COVID-19 pandemic.

• NBCUniversal’s Peacock streaming service launched in 2020 with a mix of old shows like The Office plus originals, aiming to leverage NBCU’s content library. Early questions focused on how aggressively it would be promoted and how much it would rely on ads.

• WarnerMedia has rebranded its HBO Max streaming service multiple times since launch, seeking to better emphasize its connection to HBO’s prestigious programming. Its ability to balance HBO’s quality brand with more mass appeal content has been an ongoing challenge.

• Netflix remains dominant in streaming, though facing growing competition. It has focused on developing local language content for international markets and big-budget films to lure subscribers. But its movie strategy has faced criticism from theater owners.

• The launches of new streaming services from Apple, Disney, WarnerMedia and others in 2019-2020 marked a major shift in the media landscape. But platforms face ongoing challenges around building subscriber bases, balancing libraries and originals, and retaining talent.

2

Here is a summary of key points related to Disney:

• Founded in 1923 by Walt and Roy Disney as a film studio, it has grown into a massive media conglomerate. Known for its family entertainment, theme parks, and movie studios.

• Key acquisitions include Pixar (2006), Marvel (2009), Lucasfilm (2012), and 21st Century Fox (2019), bringing popular brands and franchises like Star Wars, Marvel, Avatar, The Simpsons under Disney.

• Launched streaming service Disney+ in 2019, amassing over 100 million subscribers in less than 2 years. Allows them to leverage their extensive library of content.

• Also owns traditional TV network ABC, cable channels like ESPN, Freeform, stake in Hulu. Strong in theatrical movie market with divisions like Walt Disney Studios, 20th Century Studios, Searchlight.

• Major company initiatives involve expanding directly-to-consumer streaming offerings to compete with Netflix, Amazon, Apple. Leveraging well-known brands and franchises across films, TV, theme parks.

• Led by CEO Bob Chapek (2020-present) after long tenure of Bob Iger (2005-2020), who oversaw many key acquisitions.

• Faced challenges during COVID-19 pandemic closing theme parks, movie theaters. But streaming services thrived during lockdowns. Continues to be an entertainment powerhouse.

Here is a summary of the key points from those pages:

• Disney acquired 21st Century Fox, expanding its content library and gaining control of properties like The Simpsons. This helped fuel the launch of Disney+.

• Disney partnered with Apple in the early days of digital media, offering shows on iTunes and getting an equity stake in Hulu. This helped them transition to streaming.

• Disney launched its own streaming service, Disney+, in 2019. Despite some initial technical issues, it gained millions of subscribers thanks to its deep catalog of content.

• Disney made a deal to gain full operational control of Hulu, though Comcast still retains a minority stake. Hulu helps Disney reach older audiences.

• Disney had to close its parks and delay film releases due to COVID-19, but pushed Disney+ and embraced premier access as a new revenue stream.

• WarnerMedia acquired the rights to popular shows like Friends and The Big Bang Theory to boost HBO Max. It has struggled to reach projected subscriber goals.

• Netflix faces increasing competition from Disney+, HBO Max, and others. It is focused on developing original content to maintain its subscriber base.

• Quibi, Jeffrey Katzenberg’s short form video startup, failed to gain traction and quickly shut down.

In summary, streaming wars heated up as legacy media companies like Disney and WarnerMedia launched their own services to compete with disruptor Netflix. COVID-19 accelerated adoption of streaming.

Here is a summary of the key points from the excerpt:

• The excerpt describes the programming and history of HBO, an American premium cable network.

• HBO was founded in 1972 and initially focused on boxing matches and feature films. It pioneered the model of premium subscription-based television without advertising.

• Over time, HBO expanded into original programming with shows like The Larry Sanders Show, Sex and the City, The Sopranos, and Game of Thrones. These shows helped establish HBO’s reputation for prestige, quality programming.

• Under the leadership of CEO Richard Plepler, HBO cultivated relationships with top creative talent and gave them artistic freedom. This led to acclaimed shows like Girls, Veep, and Big Little Lies.

• HBO has faced competition from streaming services like Netflix. But it remains a top destination for high-end television and an influential force in the industry.

• Key themes are HBO’s history of innovation, focus on prestige programming, cultivation of talent, competition with Netflix, and ongoing influence despite the rise of streaming.

Here are the key points from the summary:

• The book provides an inside look at the rise of Netflix and its competition with other streaming services like Hulu and HBO Max.

• It profiles key executives like Reed Hastings, Ted Sarandos, and John Stankey and their roles in shaping these companies.

• Major events covered include Netflix’s shift to original programming, the launch of HBO Max, and AT&T’s acquisition of Time Warner.

• The streaming wars have led to massive investments in content, with Netflix alone expected to spend $17 billion on content in 2020.

• Competition has intensified as media companies consolidate and tech giants like Apple and Amazon enter the fray.

• The future is uncertain, as viewers suffer from subscription fatigue and companies face challenges in building sustainable business models.

• Overall, the book examines how streaming has disrupted Hollywood and the massive changes underway in the media landscape.

• Y Tu Mamá También (2001) is a Mexican road trip comedy film directed by Alfonso Cuarón.

• Lauren Zalaznick was an executive at NBCUniversal responsible for overseeing Bravo and digital enterprises.

• David Zaslav is the CEO of Discovery who helped pioneer reality TV and cable programming. He negotiated the merger between Discovery and WarnerMedia in 2022.

• Amy Ziering is a documentary producer known for films exposing sexual assault like The Hunting Ground.

• Ken Ziffren is a prominent entertainment lawyer in Hollywood.

• Vivi Zigler was an executive at NBCUniversal overseeing digital entertainment and emerging technology.

• Zodiac is a 2007 David Fincher film about the search for the Zodiac Killer in the 1960s/1970s.

• Jeff Zucker was the former CEO of CNN who resigned in 2022 over a relationship with a colleague.

• Mark Zuckerberg is the CEO of Facebook and Meta.

The key points cover some of the people, films, and companies mentioned in the book. Let me know if you would like me to summarize any particular sections or provide any additional details.