Does NBC’s Potential Primetime Retreat Foreshadow More Changes To Legacy Broadcast Network Model?
27.08.2022 - 03:49
/ deadline.com
When Warner Bros Discovery CEO David Zaslav wanted to make a forceful first impression at the company’s upfront last spring, he used words designed to dazzle the audience of ad buyers.
The newly merged company, he declared, would now stand “shoulder-to-shoulder” with the broadcast networks in terms of scale and reach. Three decades after Fox became the fourth major network, Zaslav said, WBD “makes the number five.”
Today’s news out of NBCUniversal suggests that not everyone is as eager as Zaslav to be part of the broadcast club. A person familiar with NBCU conversations confirmed to Deadline that execs are considering a plan to potentially ditch an hour of primetime programming each night and hand back the 10 p.m. block to affiliates. The Wall Street Journal had the first report on those deliberations.
No final determination has been made, and the earliest a move could happen would be 2023. The news followed the similarly stark outlook for the CW now that it is mostly owned by Nexstar Media Group. Execs at Nexstar told investors last week that the company would look to turn a profit on the CW by 2025. “It’s no secret that the CW is not profitable,” CFO Lee Ann Gliha said, “but this is not typical for fully distributed broadcast or cable networks. In fact, according to SNL Kagan data, no other broadcast network operates at an ongoing loss.” Tom Carter, president and COO of Nexstar, said the company would be “unlike other broadcast network owners” in its financial rigor and promised “lower unscripted costs” and a shift away from the Riverdale network’s signature scripted lineup.
Costs are a creeping concern for all broadcast network owners, especially as they look to feed their streaming ambitions. NBCU’s Peacock, which
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