1 00:00:06,160 --> 00:00:10,240 Speaker 1: Welcome to Strictly Business, Variety's weekly podcasts featuring conversations with 2 00:00:10,320 --> 00:00:14,280 Speaker 1: industry leaders about the business of entertainment. I'm Cynthia Littleton, 3 00:00:14,520 --> 00:00:18,120 Speaker 1: Business editor of Variety Today. My guest is Dana Walden, 4 00:00:18,360 --> 00:00:22,919 Speaker 1: chairman of Disney Television Studios and ABC Entertainment. Dana was 5 00:00:22,960 --> 00:00:26,599 Speaker 1: already one of the industry's most powerful television executives when 6 00:00:26,640 --> 00:00:30,040 Speaker 1: she was co head of Fox Television Group prior to 7 00:00:30,080 --> 00:00:34,239 Speaker 1: Disney's acquisition of twenty century Fox. Now she's leading the 8 00:00:34,320 --> 00:00:37,960 Speaker 1: charge for Disney in primetime series production, and she's steering 9 00:00:37,960 --> 00:00:42,000 Speaker 1: the ship at ABC. Walden made her first public remarks 10 00:00:42,000 --> 00:00:44,000 Speaker 1: since she moved to Disney in a Q and A 11 00:00:44,120 --> 00:00:46,720 Speaker 1: with Me in Los Angeles that was held as part 12 00:00:46,720 --> 00:00:51,120 Speaker 1: of Variety's annual TV Summit on June twelve. Here, Walden 13 00:00:51,200 --> 00:00:54,520 Speaker 1: offers insights into how Disney is managing what she described 14 00:00:54,560 --> 00:00:59,600 Speaker 1: as television existential crisis. She was candid about the challenges 15 00:00:59,640 --> 00:01:02,960 Speaker 1: ahead traditional media, and she spoke from the heart about 16 00:01:03,000 --> 00:01:06,120 Speaker 1: the importance of maintaining a healthy workplace culture in the 17 00:01:06,160 --> 00:01:12,400 Speaker 1: post me too era. Thank you, Dana for your time. 18 00:01:12,680 --> 00:01:18,000 Speaker 1: Of course, I thought that was weird where my team 19 00:01:18,080 --> 00:01:23,199 Speaker 1: wasn't even clapping. I'm like, just happened. Judging by that reel, 20 00:01:23,440 --> 00:01:25,840 Speaker 1: you have a lot going on. Yeah, yeah, a lot 21 00:01:25,840 --> 00:01:29,840 Speaker 1: of good stuff. I'm so proud of that reel. Absolutely, Um, 22 00:01:29,920 --> 00:01:33,520 Speaker 1: let's talk about let's talk about Obviously, it's been a 23 00:01:33,600 --> 00:01:37,039 Speaker 1: historic period for the industry for Disney. The acquisition of 24 00:01:37,520 --> 00:01:41,200 Speaker 1: Century Fox, after a long run, was finally complete in March. 25 00:01:41,959 --> 00:01:44,880 Speaker 1: During that process, I know you had no shortage of 26 00:01:44,880 --> 00:01:47,880 Speaker 1: options for what your next move might have been. Why 27 00:01:47,920 --> 00:01:52,000 Speaker 1: did you say yes to Disney? Well, I would say, 28 00:01:52,200 --> 00:01:54,440 Speaker 1: I mean, I don't want to be a flip or 29 00:01:54,680 --> 00:01:59,520 Speaker 1: cavalier about it. It was really a no brainer for me. Um, 30 00:01:59,560 --> 00:02:01,840 Speaker 1: I really, you know, being a part of this industry 31 00:02:01,880 --> 00:02:05,200 Speaker 1: over the past five years and seeing the incredibly dynamic 32 00:02:05,320 --> 00:02:09,919 Speaker 1: change and the disruption to our business. You know, my 33 00:02:10,200 --> 00:02:13,000 Speaker 1: fantasy and my dream was to be at a company 34 00:02:13,040 --> 00:02:18,360 Speaker 1: that was really about creativity and storytelling, but one that 35 00:02:18,480 --> 00:02:22,120 Speaker 1: was also oriented towards the future. And I feel like 36 00:02:22,160 --> 00:02:25,280 Speaker 1: that's exactly where I've ended. When you have, you know, 37 00:02:25,400 --> 00:02:30,079 Speaker 1: just an extraordinary visionary leader like Bob Iger who looks 38 00:02:30,160 --> 00:02:32,799 Speaker 1: at what I think can be described as a kind 39 00:02:32,800 --> 00:02:38,720 Speaker 1: of existential crisis for traditional media companies and you have 40 00:02:38,760 --> 00:02:41,600 Speaker 1: two choices in that situation. You can put your head 41 00:02:41,639 --> 00:02:43,560 Speaker 1: in the sand. And I think we've seen some of 42 00:02:43,600 --> 00:02:48,359 Speaker 1: our competitors do that, or we've also seen people kind 43 00:02:48,360 --> 00:02:51,880 Speaker 1: of dip atou in the water and start you know, 44 00:02:52,040 --> 00:02:57,280 Speaker 1: sort of very specific smaller streaming companies. And it just 45 00:02:57,400 --> 00:03:01,200 Speaker 1: felt like, you know, in those circumstance dances for Bob 46 00:03:01,320 --> 00:03:06,840 Speaker 1: to just take this enormous step and acquire Fox at 47 00:03:06,880 --> 00:03:12,200 Speaker 1: you know, quite a number, and just make a declaration 48 00:03:12,400 --> 00:03:17,119 Speaker 1: about taking this beloved company about characters and storytellers and 49 00:03:17,200 --> 00:03:20,919 Speaker 1: just putting them into the future. And you know, when 50 00:03:20,919 --> 00:03:25,560 Speaker 1: I looked around and thought about companies which are fundamentally 51 00:03:25,720 --> 00:03:31,200 Speaker 1: the phone company, a cable company, a retail company, um 52 00:03:31,360 --> 00:03:36,280 Speaker 1: companies where the tech started the businesses and then the 53 00:03:36,440 --> 00:03:41,480 Speaker 1: creativity was acquired culturally, I think those companies are always 54 00:03:41,480 --> 00:03:43,720 Speaker 1: going to be very different from a company that's been 55 00:03:44,200 --> 00:03:49,040 Speaker 1: about storytelling for almost a hundred years and all started 56 00:03:49,040 --> 00:03:53,119 Speaker 1: by a mouse. As I said, absolutely, let me ask 57 00:03:53,160 --> 00:03:55,280 Speaker 1: you in the in the process of you know, making 58 00:03:55,280 --> 00:03:59,240 Speaker 1: that decision, and and once you were you know, once 59 00:03:59,400 --> 00:04:02,240 Speaker 1: once the street was you know, was surprised to learn 60 00:04:02,280 --> 00:04:06,080 Speaker 1: that the Murdocks were you know, considering open to considering 61 00:04:06,080 --> 00:04:10,360 Speaker 1: a sale? Did during that period? Did did the changes 62 00:04:10,400 --> 00:04:12,240 Speaker 1: in the industry did they crystallize in your mind in 63 00:04:12,280 --> 00:04:15,560 Speaker 1: a different way when you knew that, you know, Fox, 64 00:04:15,640 --> 00:04:17,440 Speaker 1: which was you know, I mean it was such a 65 00:04:17,440 --> 00:04:19,800 Speaker 1: shock because it was such a robust business rouper. It 66 00:04:19,880 --> 00:04:23,200 Speaker 1: was a buyer, not a seller. Was that did you 67 00:04:23,320 --> 00:04:26,200 Speaker 1: did you? Was that process a learning process for what 68 00:04:26,240 --> 00:04:28,480 Speaker 1: you just described, like where you see the company going, 69 00:04:28,880 --> 00:04:31,920 Speaker 1: I'm sorry, the industry going, yeah, no question. And you know, 70 00:04:32,760 --> 00:04:37,240 Speaker 1: I think Rupert disrupted again. I mean, I think the 71 00:04:37,560 --> 00:04:40,920 Speaker 1: narrative around is he a buyer or a seller? You know, 72 00:04:41,000 --> 00:04:43,719 Speaker 1: he was a buyer at the time that people weren't 73 00:04:43,800 --> 00:04:49,200 Speaker 1: acquiring you know, enormous station groups, or buying a studio, 74 00:04:49,600 --> 00:04:54,920 Speaker 1: or launching a competitor to the broadcast networks, or acquiring 75 00:04:54,960 --> 00:04:59,680 Speaker 1: the NFL on a pretty spectacular scale. That was disruptive 76 00:05:00,000 --> 00:05:03,719 Speaker 1: at that time. I think what was disruptive, you know, 77 00:05:03,800 --> 00:05:08,120 Speaker 1: in two thousand eighteen was him making an extraordinary deal 78 00:05:08,200 --> 00:05:13,640 Speaker 1: to sell his company. And I do I do feel 79 00:05:13,680 --> 00:05:19,080 Speaker 1: like our company got the benefit of seeing what the 80 00:05:19,160 --> 00:05:24,000 Speaker 1: shortcomings are of the various streaming competitors. You know, what 81 00:05:24,080 --> 00:05:27,559 Speaker 1: we can do that might be better, and again doing 82 00:05:27,600 --> 00:05:30,760 Speaker 1: it at a scale that's kind of undeniable. This is 83 00:05:30,800 --> 00:05:36,960 Speaker 1: going or is now arguably the biggest content company in 84 00:05:37,000 --> 00:05:42,640 Speaker 1: the business, with you know, the second largest streaming platform 85 00:05:42,839 --> 00:05:47,640 Speaker 1: in the business, with an incredibly robust plan to launch 86 00:05:47,720 --> 00:05:51,400 Speaker 1: Disney Plus, which is you know you, I'm sure you're 87 00:05:51,440 --> 00:05:55,520 Speaker 1: at investor Day and you just saw this incredible collection 88 00:05:55,800 --> 00:06:00,599 Speaker 1: of beloved brands and content and original program I mean again, 89 00:06:01,760 --> 00:06:06,200 Speaker 1: situated really to win and having the ability to look at, 90 00:06:06,720 --> 00:06:09,320 Speaker 1: you know, some of the missteps of our competitors. All 91 00:06:09,360 --> 00:06:12,200 Speaker 1: of those things came together relatively quickly, but they all 92 00:06:12,279 --> 00:06:17,400 Speaker 1: made great sense. And uh yeah, that's a long way 93 00:06:17,720 --> 00:06:20,000 Speaker 1: of saying, yes, I think we did learn a lot 94 00:06:20,040 --> 00:06:23,640 Speaker 1: in those eighteen months when you saw when you saw 95 00:06:23,640 --> 00:06:26,000 Speaker 1: the investor Day and also the upfront, when you saw 96 00:06:26,120 --> 00:06:28,960 Speaker 1: those that just the sheer amount of brands and I 97 00:06:29,080 --> 00:06:33,000 Speaker 1: P together it really it really made sense when you 98 00:06:33,080 --> 00:06:34,960 Speaker 1: sort of visually saw it and and you look at 99 00:06:34,960 --> 00:06:37,760 Speaker 1: all that and you realize that Disney owns every bit 100 00:06:37,800 --> 00:06:39,560 Speaker 1: of it. It's not going to walk away in five 101 00:06:39,600 --> 00:06:43,000 Speaker 1: years when the license runs out. Right, it's enormously impressive, 102 00:06:43,200 --> 00:06:46,440 Speaker 1: is it almost daunting? You have so much, so much 103 00:06:46,480 --> 00:06:49,160 Speaker 1: to work front, so much to choose from. No, I 104 00:06:50,080 --> 00:06:53,880 Speaker 1: am exhilarated. I feel so excited every day when I 105 00:06:53,920 --> 00:06:56,720 Speaker 1: go to work. I feel like, you know, when you 106 00:06:56,839 --> 00:07:01,000 Speaker 1: look across the company and both the platforms and the studios, 107 00:07:01,120 --> 00:07:05,719 Speaker 1: the amount of creativity um the value proposition to great 108 00:07:05,800 --> 00:07:08,520 Speaker 1: creators to come and make their home at our company 109 00:07:08,720 --> 00:07:12,800 Speaker 1: is extraordinary. And you know, I wish there were a 110 00:07:12,800 --> 00:07:16,400 Speaker 1: few more hours in the day because it does make 111 00:07:16,440 --> 00:07:19,320 Speaker 1: it hard to be able to see everything. But you 112 00:07:19,320 --> 00:07:21,800 Speaker 1: know what, that's really not my job. My job is 113 00:07:21,840 --> 00:07:25,040 Speaker 1: to make sure that I'm seeing enough, but that I 114 00:07:25,080 --> 00:07:28,760 Speaker 1: have the right you know, business leaders in place who 115 00:07:28,840 --> 00:07:32,320 Speaker 1: are managing the various areas you know where I am working. 116 00:07:32,640 --> 00:07:35,960 Speaker 1: Craig Huntinggs is here right now, who's now overseeing all 117 00:07:36,000 --> 00:07:39,800 Speaker 1: of our studios, business Wendy McMahon who runs the own 118 00:07:39,880 --> 00:07:44,040 Speaker 1: TV stations, Carry Burke, who's just recently stepped in to 119 00:07:44,360 --> 00:07:48,800 Speaker 1: run a v C. And Tom Asheim who's running free Form. 120 00:07:48,880 --> 00:07:52,280 Speaker 1: You know, my job now is more about making sure 121 00:07:52,480 --> 00:07:55,440 Speaker 1: you know best players are on the field than being 122 00:07:55,480 --> 00:07:58,680 Speaker 1: in the weeds and feeling like I have to, you know, 123 00:07:59,040 --> 00:08:02,560 Speaker 1: somehow touch every show that's coming out of our company, right, 124 00:08:02,600 --> 00:08:06,239 Speaker 1: you gotta read five more scripts before you go to bed. Yeah, gotcha. 125 00:08:06,520 --> 00:08:09,320 Speaker 1: How did you so when you decided to say yes? 126 00:08:09,360 --> 00:08:11,680 Speaker 1: And when you how did you? What was the process 127 00:08:11,720 --> 00:08:14,600 Speaker 1: of deciding how you were going to organize things? Because 128 00:08:14,640 --> 00:08:16,760 Speaker 1: I think there was a lot of speculation, including in 129 00:08:17,080 --> 00:08:20,080 Speaker 1: my stories, there was speculation that you would you would 130 00:08:20,080 --> 00:08:23,800 Speaker 1: collapse the very large twenty century Fox TV operation in 131 00:08:24,040 --> 00:08:27,920 Speaker 1: an ABC studios into one large division. You have not 132 00:08:28,000 --> 00:08:30,880 Speaker 1: done that. You've you've kept twenty distinct. You've kept Fox 133 00:08:30,920 --> 00:08:34,240 Speaker 1: twenty one Television Studios distinct and ABC Studios distinct. How 134 00:08:34,280 --> 00:08:37,040 Speaker 1: did you come to that structure? Yeah, that was a 135 00:08:37,040 --> 00:08:41,600 Speaker 1: lot of Um. The benefit of the period of time 136 00:08:41,640 --> 00:08:45,079 Speaker 1: we had while the transaction was going through the various 137 00:08:45,160 --> 00:08:48,920 Speaker 1: regulatory processes around the world was we had the opportunity 138 00:08:49,000 --> 00:08:52,120 Speaker 1: to really think about what was in the best interest 139 00:08:52,440 --> 00:08:57,320 Speaker 1: of mostly creators and then the creative process with the 140 00:08:57,360 --> 00:09:02,160 Speaker 1: final result being the shows that we produce, and um, 141 00:09:02,200 --> 00:09:08,040 Speaker 1: you know, how we can expand our output in a 142 00:09:08,080 --> 00:09:12,640 Speaker 1: way that is most talent friendly. And Peter Rice and 143 00:09:12,679 --> 00:09:17,160 Speaker 1: I you know, along with Robbia Josiah who is his 144 00:09:17,679 --> 00:09:21,280 Speaker 1: head of business, we spent a lot of time thinking about, 145 00:09:22,160 --> 00:09:25,760 Speaker 1: you know, what's the structure that makes sense at the studios, 146 00:09:26,400 --> 00:09:29,760 Speaker 1: And ultimately where we came out was the notion of 147 00:09:29,800 --> 00:09:34,960 Speaker 1: having a horizontal structure, not trying to build one big 148 00:09:35,320 --> 00:09:39,199 Speaker 1: super studio that has a lot of layers and a 149 00:09:39,200 --> 00:09:44,080 Speaker 1: lot of process and we didn't want to funnel creatively 150 00:09:44,280 --> 00:09:48,680 Speaker 1: that started very wide and ultimately build you know, came 151 00:09:48,800 --> 00:09:53,640 Speaker 1: through just a small number of creative filters. So what 152 00:09:53,760 --> 00:09:56,959 Speaker 1: we have now with each of these studios is we 153 00:09:57,040 --> 00:10:01,520 Speaker 1: have president level executives and then we have very high 154 00:10:01,600 --> 00:10:06,439 Speaker 1: level executives in every critical area in business affairs, in production, 155 00:10:06,679 --> 00:10:11,880 Speaker 1: in casting, in our creative affairs areas. And we feel 156 00:10:11,960 --> 00:10:18,840 Speaker 1: like contracting those businesses would have by definition, given us 157 00:10:19,000 --> 00:10:25,280 Speaker 1: fewer filters, fewer opportunities to have great relationships with our creators, 158 00:10:25,360 --> 00:10:28,400 Speaker 1: and that we were building a bureaucratic organization, and that's 159 00:10:28,440 --> 00:10:32,720 Speaker 1: the opposite of what we wanted mm HM tru UM 160 00:10:32,760 --> 00:10:37,360 Speaker 1: and in in a sort of assembling the components of 161 00:10:37,400 --> 00:10:40,920 Speaker 1: the division that you run UM. Of course, you know, 162 00:10:41,000 --> 00:10:44,599 Speaker 1: content licensing is now such an engine for all of 163 00:10:44,640 --> 00:10:47,800 Speaker 1: the media companies. You know, there's almost I think you 164 00:10:47,840 --> 00:10:51,120 Speaker 1: can say that there's more monetization, pure monetization that goes 165 00:10:51,240 --> 00:10:55,120 Speaker 1: off goes on off of ABC's air or freeforms air 166 00:10:55,280 --> 00:10:57,680 Speaker 1: than in that you know that that first run airing. 167 00:10:58,160 --> 00:11:00,719 Speaker 1: How much would you say that your folks is on 168 00:11:01,640 --> 00:11:06,200 Speaker 1: the you know, feeding the networks, programming the networks, versus 169 00:11:06,480 --> 00:11:11,000 Speaker 1: thinking about things that can either feed Disney Plus, whether 170 00:11:11,160 --> 00:11:14,040 Speaker 1: originals or or going downstream down the road to a 171 00:11:14,080 --> 00:11:16,840 Speaker 1: Disney to Disney Plus or the you know what we 172 00:11:16,880 --> 00:11:20,360 Speaker 1: expect to see kind of a reimagined Hulu in the 173 00:11:20,400 --> 00:11:22,840 Speaker 1: near future. I guess how much of your focus is 174 00:11:22,920 --> 00:11:27,680 Speaker 1: on the network itself, that first run experience versus the 175 00:11:27,760 --> 00:11:30,880 Speaker 1: long tail of the content that you're producing out of 176 00:11:30,880 --> 00:11:34,600 Speaker 1: your many labels. Well, you know, I think they all, 177 00:11:35,040 --> 00:11:37,640 Speaker 1: all of the pieces all come together. I don't think 178 00:11:37,679 --> 00:11:41,200 Speaker 1: it's you know, UM, I don't think you can separate 179 00:11:42,360 --> 00:11:45,080 Speaker 1: how you think about that. You know, what we're thinking 180 00:11:45,120 --> 00:11:47,880 Speaker 1: about right now is making sure we get the right 181 00:11:47,920 --> 00:11:53,040 Speaker 1: shows to the right platforms. And because the initial exhibition 182 00:11:53,280 --> 00:11:56,280 Speaker 1: is where a show is going to be marketed. It's 183 00:11:56,440 --> 00:12:00,839 Speaker 1: particularly when you talk about UM ABC, which has this 184 00:12:00,960 --> 00:12:04,960 Speaker 1: extraordinary reach still you know, a hundred and forty five 185 00:12:05,760 --> 00:12:09,280 Speaker 1: you know viewers, a week a million viewers a week 186 00:12:09,400 --> 00:12:15,440 Speaker 1: that are UM watching broadcast television. So what we're thinking 187 00:12:15,440 --> 00:12:21,040 Speaker 1: about at this stage is we're definitely starting to look 188 00:12:21,120 --> 00:12:24,640 Speaker 1: at our platforms in more of a closed ecosystem. I 189 00:12:24,679 --> 00:12:27,000 Speaker 1: think that's just the reality of our business right now. 190 00:12:27,600 --> 00:12:33,040 Speaker 1: All of the bigger media companies right now are facing 191 00:12:33,040 --> 00:12:34,640 Speaker 1: the reality that they're going to have to more and 192 00:12:34,640 --> 00:12:40,840 Speaker 1: more supply themselves. So we're looking at, you know, best 193 00:12:41,000 --> 00:12:45,400 Speaker 1: possible content on each of our platforms is going to 194 00:12:45,720 --> 00:12:48,240 Speaker 1: have an afterlife. It's not so different from what we've 195 00:12:48,240 --> 00:12:52,440 Speaker 1: done in the past, which is UM, make a great 196 00:12:52,480 --> 00:12:57,720 Speaker 1: value proposition to creators, woo them, bring them into our ecosystem, 197 00:12:58,640 --> 00:13:01,400 Speaker 1: get them to think their biggest thoughts, help them to 198 00:13:01,520 --> 00:13:05,080 Speaker 1: curate ideas, help them to package them, get them onto 199 00:13:05,160 --> 00:13:08,520 Speaker 1: the right platform, help them to be the biggest, most 200 00:13:08,559 --> 00:13:12,520 Speaker 1: cultural defining hits that they can be, and then keep 201 00:13:12,559 --> 00:13:16,120 Speaker 1: them in our library forever where they will be distributed 202 00:13:16,200 --> 00:13:20,120 Speaker 1: over and over again, with the only difference being the 203 00:13:20,160 --> 00:13:24,040 Speaker 1: platforms that the secondary platforms are are going to exist 204 00:13:24,080 --> 00:13:27,480 Speaker 1: inside of our own company. Does that change UM, I mean, 205 00:13:27,520 --> 00:13:31,320 Speaker 1: does that change the way that you that you project 206 00:13:31,640 --> 00:13:34,000 Speaker 1: a long term value for a show? Does it change 207 00:13:34,080 --> 00:13:37,880 Speaker 1: the sort of fundamental economic basis of what you think 208 00:13:38,559 --> 00:13:40,760 Speaker 1: a drama will do or a comedy will do. If 209 00:13:40,760 --> 00:13:42,280 Speaker 1: you know it's going to stay within the kind of 210 00:13:42,280 --> 00:13:47,400 Speaker 1: a world garden. I guess it does change the economics. 211 00:13:47,800 --> 00:13:53,000 Speaker 1: You know, we are um in a closed environment. And again, 212 00:13:53,120 --> 00:13:57,080 Speaker 1: part of the the challenge and what you have to 213 00:13:57,200 --> 00:14:00,720 Speaker 1: think about is that all of these companies are be closed. 214 00:14:01,280 --> 00:14:04,720 Speaker 1: Stuff does not syndicate off of Netflix and Amazon for 215 00:14:04,760 --> 00:14:07,880 Speaker 1: the most part. Um, we have to be thinking about 216 00:14:07,880 --> 00:14:11,240 Speaker 1: a long tail in terms of how it fuels our business. 217 00:14:11,800 --> 00:14:15,000 Speaker 1: But when you think about what acquired content has done 218 00:14:15,200 --> 00:14:19,800 Speaker 1: for these various platforms, um for the growth of subscribers 219 00:14:20,040 --> 00:14:24,720 Speaker 1: and the health of that ecosystem, there are different economics, 220 00:14:24,760 --> 00:14:28,800 Speaker 1: but inside of the same organization as meaningful, but they're 221 00:14:28,840 --> 00:14:33,200 Speaker 1: shifting from how do you monetize a single piece of 222 00:14:33,240 --> 00:14:37,880 Speaker 1: content to how do you use a show to build 223 00:14:37,960 --> 00:14:44,240 Speaker 1: platforms and recruit subscribers and to prevent churn? And you know, 224 00:14:44,320 --> 00:14:47,800 Speaker 1: again we're all a little bit moving towards the same goal. 225 00:14:48,600 --> 00:14:52,640 Speaker 1: So I think the economics of the entire industry are shifting, 226 00:14:53,200 --> 00:14:55,800 Speaker 1: and this is where we are at this point. You 227 00:14:55,880 --> 00:14:58,520 Speaker 1: mentioned that that the feeling is that television is really 228 00:14:58,520 --> 00:15:02,600 Speaker 1: facing in an existential cry That sounds that sounds dramatic. 229 00:15:02,640 --> 00:15:04,640 Speaker 1: But given you know all that that we're seeing in 230 00:15:04,680 --> 00:15:08,080 Speaker 1: the all the change in the marketplace, what you know, 231 00:15:08,160 --> 00:15:12,160 Speaker 1: as you as you formulated these plans, I'm presuming in 232 00:15:12,320 --> 00:15:14,760 Speaker 1: you know, in concert with Peter Rice and Bob Iger, 233 00:15:15,280 --> 00:15:20,400 Speaker 1: what what I guess Disney Plus and the streaming push 234 00:15:20,600 --> 00:15:24,720 Speaker 1: is the response to what you see is that existential crisis? Well, 235 00:15:24,760 --> 00:15:28,720 Speaker 1: I think yeah, I mean you it's hard to imagine 236 00:15:28,720 --> 00:15:33,080 Speaker 1: a media company surviving well into the future without a 237 00:15:33,200 --> 00:15:37,080 Speaker 1: strategy that is going direct to the consumer. That's just 238 00:15:37,240 --> 00:15:41,560 Speaker 1: the reality of how an entire generation of consumers have 239 00:15:41,680 --> 00:15:45,800 Speaker 1: been taught to watch television, and we all have to 240 00:15:45,880 --> 00:15:49,440 Speaker 1: modernize and we all have to be part of evolving 241 00:15:49,440 --> 00:15:53,720 Speaker 1: our businesses. At Walt Disney Television right now, our strategy 242 00:15:53,960 --> 00:15:58,080 Speaker 1: is a little bit two fold. We have these mature, 243 00:15:58,200 --> 00:16:03,320 Speaker 1: very well established platform ms you know clearly, you know, ABC, FX, 244 00:16:03,840 --> 00:16:08,520 Speaker 1: free Form, UM and really Hulu that's now in twenty 245 00:16:08,600 --> 00:16:18,520 Speaker 1: nine million subscribers strong. But our legacy businesses are going 246 00:16:18,720 --> 00:16:21,680 Speaker 1: to help us as we pivot this company towards the 247 00:16:21,720 --> 00:16:26,920 Speaker 1: future because they are actually robust and financially very strong. 248 00:16:27,440 --> 00:16:30,920 Speaker 1: There's very meaningful revenue streams through the ad sales area 249 00:16:31,200 --> 00:16:39,000 Speaker 1: and through UM retrans that keeping those platforms strong as 250 00:16:39,240 --> 00:16:44,000 Speaker 1: our organization transitions to the future is mandatory. And that's 251 00:16:44,000 --> 00:16:46,160 Speaker 1: a little bit of what I feel is the best 252 00:16:46,200 --> 00:16:49,000 Speaker 1: case scenario that we have at Disney right now, which 253 00:16:49,040 --> 00:16:52,920 Speaker 1: is we have both. You know, we have these strong 254 00:16:53,080 --> 00:16:59,200 Speaker 1: channels that UM are sort of megaphones to consumers where 255 00:16:59,200 --> 00:17:05,680 Speaker 1: we're branding shows, and we are UM still incredible reach 256 00:17:05,840 --> 00:17:09,000 Speaker 1: vehicles for advertisers, one of the only places that an 257 00:17:09,040 --> 00:17:13,000 Speaker 1: advertiser can go to reach you know, two million people 258 00:17:13,160 --> 00:17:16,040 Speaker 1: watched live in front of a studio audience, you know, 259 00:17:16,119 --> 00:17:18,800 Speaker 1: Jimmy Kimmel and Norman Lear specially we did on ABC 260 00:17:18,960 --> 00:17:22,040 Speaker 1: about a month ago, over seven days. It was twenty 261 00:17:22,040 --> 00:17:29,920 Speaker 1: two million viewers. That's an extraordinary proposition for sponsors and advertisers, 262 00:17:30,560 --> 00:17:35,080 Speaker 1: and we're going to use those businesses again. And those 263 00:17:35,080 --> 00:17:39,040 Speaker 1: are opportunities that our competitors don't have. They actually are 264 00:17:39,080 --> 00:17:42,520 Speaker 1: competitors in the streaming space have to look to us 265 00:17:42,560 --> 00:17:46,479 Speaker 1: in certain cases to try and market their shows and 266 00:17:46,560 --> 00:17:50,680 Speaker 1: their brands, and we have this megaphone right inside our 267 00:17:50,680 --> 00:17:54,080 Speaker 1: own organization. So we have to keep them strong, we 268 00:17:54,200 --> 00:17:56,600 Speaker 1: have to keep them vital, and then we have to 269 00:17:56,680 --> 00:18:01,119 Speaker 1: keep innovating, and both tracks have to move in a 270 00:18:01,160 --> 00:18:07,280 Speaker 1: parallel manner at a hundred miles an hour towards Burbank. Yeah, 271 00:18:07,320 --> 00:18:11,240 Speaker 1: at around four fifteen in the afternoon. Um, let me 272 00:18:11,320 --> 00:18:14,600 Speaker 1: ask you, as as you know, there is a focus 273 00:18:14,600 --> 00:18:17,800 Speaker 1: at the largest companies on the internal channels. Is that 274 00:18:18,000 --> 00:18:21,440 Speaker 1: is particularly twenty century Fox Television, you know, really made 275 00:18:21,480 --> 00:18:24,760 Speaker 1: its reputation in selling everywhere. Is that? Is it fair 276 00:18:24,800 --> 00:18:27,439 Speaker 1: to say that right now you're very much focused on 277 00:18:27,480 --> 00:18:30,240 Speaker 1: the many lanes that you have to serve within Disney. 278 00:18:30,800 --> 00:18:33,600 Speaker 1: I think, you know, we're trying to be focused a 279 00:18:33,600 --> 00:18:37,120 Speaker 1: little bit on both because the reality of this exactly 280 00:18:37,359 --> 00:18:41,360 Speaker 1: exact moment in time is that, you know, as we're 281 00:18:41,359 --> 00:18:45,520 Speaker 1: developing with our creators right now, we're looking at our 282 00:18:45,960 --> 00:18:51,840 Speaker 1: seven owned platforms primarily when we have our initial conversations. 283 00:18:51,840 --> 00:18:54,800 Speaker 1: And the beauty of that is, you know, part of 284 00:18:54,840 --> 00:18:58,919 Speaker 1: what we um talk to creators about at twenty century 285 00:18:58,920 --> 00:19:03,239 Speaker 1: Fox Television was this independence, and what independence was was 286 00:19:03,320 --> 00:19:09,120 Speaker 1: being able to take every project to the right platform. 287 00:19:09,160 --> 00:19:12,840 Speaker 1: This is us was right for NBC, Glee was right 288 00:19:12,880 --> 00:19:15,119 Speaker 1: for Fox, Modern Family was right for ABC. How I 289 00:19:15,160 --> 00:19:18,840 Speaker 1: Met Your Mother was right for CBS, each of those networks. 290 00:19:18,840 --> 00:19:22,240 Speaker 1: Homeland was right for Showtime. You know, all of the 291 00:19:22,280 --> 00:19:25,119 Speaker 1: work we've done with John land Graph and his great 292 00:19:25,160 --> 00:19:29,680 Speaker 1: team were right for FX. Each of the Disney platforms 293 00:19:29,800 --> 00:19:34,399 Speaker 1: right now services, to a certain extent, a different audience. 294 00:19:35,000 --> 00:19:36,919 Speaker 1: You know, it's not as if we would spend a 295 00:19:36,920 --> 00:19:41,399 Speaker 1: lot of time debating where internally. If you had, you know, 296 00:19:41,560 --> 00:19:44,880 Speaker 1: a show that is perfect for families, that's probably gonna 297 00:19:44,880 --> 00:19:47,320 Speaker 1: be a Disney Plus show. If you have a show 298 00:19:47,400 --> 00:19:50,480 Speaker 1: that is a more y, a female leading show, that's 299 00:19:50,520 --> 00:19:52,919 Speaker 1: going to be free form. If you have something that 300 00:19:53,040 --> 00:19:55,680 Speaker 1: is more edgy in the tv M a space, that's 301 00:19:55,680 --> 00:19:58,120 Speaker 1: probably gonna go to f f X. You know, if 302 00:19:58,160 --> 00:20:02,679 Speaker 1: you have something that targets the older segment of eighteen 303 00:20:02,720 --> 00:20:06,040 Speaker 1: through forty nine, that's probably a broadcast show. You know, 304 00:20:06,240 --> 00:20:09,800 Speaker 1: we now have all of these options internally, but we 305 00:20:09,840 --> 00:20:14,960 Speaker 1: will absolutely still be supplying UM platforms outside of our 306 00:20:15,000 --> 00:20:19,280 Speaker 1: own in the near and foreseeable future. I mean, we 307 00:20:19,320 --> 00:20:23,080 Speaker 1: have a tremendous amount of production at Fox and they 308 00:20:23,119 --> 00:20:30,320 Speaker 1: are great partners, yes, and we fully intend to maintain 309 00:20:31,000 --> 00:20:34,760 Speaker 1: strong development pipeline to that company. You know, we're really 310 00:20:34,800 --> 00:20:38,320 Speaker 1: looking to them as our home away from home. You know, 311 00:20:38,480 --> 00:20:41,600 Speaker 1: still when I drive on the Fox lot because I 312 00:20:42,760 --> 00:20:45,800 Speaker 1: have an office, they're still at Fox, because our production 313 00:20:45,840 --> 00:20:48,840 Speaker 1: business is still on that lot. It feels, you know, 314 00:20:49,440 --> 00:20:52,520 Speaker 1: very much, I feel very much at home there, and 315 00:20:53,000 --> 00:20:56,080 Speaker 1: the executives in that organization, you know, from Charlie Collier, 316 00:20:56,200 --> 00:21:00,359 Speaker 1: but Michael Thorne and Charlie Andrews and that whole creative 317 00:21:00,359 --> 00:21:02,680 Speaker 1: team are people that we've worked with for a very 318 00:21:02,720 --> 00:21:06,639 Speaker 1: long time. And then we'll also take projects outside. We 319 00:21:06,760 --> 00:21:10,119 Speaker 1: have projects right now in development at Amazon. Clearly, we 320 00:21:10,160 --> 00:21:12,600 Speaker 1: have a lot right now at Hulu, which we're very 321 00:21:12,640 --> 00:21:17,119 Speaker 1: happy about. We already had developed strong inroads even prior 322 00:21:17,240 --> 00:21:21,000 Speaker 1: to the announcement of the Comcast is new deal around Hulu, 323 00:21:21,359 --> 00:21:24,479 Speaker 1: so we'll stay in business, but we're starting to orient 324 00:21:24,640 --> 00:21:27,840 Speaker 1: ourselves more towards our own platforms. Is there any kind 325 00:21:27,880 --> 00:21:30,840 Speaker 1: of you know, tribal council at some point where you 326 00:21:30,840 --> 00:21:32,719 Speaker 1: look at the development the things that have come in 327 00:21:32,760 --> 00:21:35,679 Speaker 1: and you, you know, you get the people around the 328 00:21:35,680 --> 00:21:37,800 Speaker 1: table and you think about, as you say, like, is 329 00:21:38,080 --> 00:21:40,280 Speaker 1: where is this really best positioned or is it more 330 00:21:40,320 --> 00:21:43,640 Speaker 1: of a case by case situation at each at each 331 00:21:43,680 --> 00:21:47,760 Speaker 1: network for the very granular development process. You know, I 332 00:21:47,800 --> 00:21:51,080 Speaker 1: really like for the creative process to stay pure. I 333 00:21:51,080 --> 00:21:55,000 Speaker 1: don't really believe in retrofitting it. I don't. I don't 334 00:21:55,040 --> 00:22:00,280 Speaker 1: think that's that's a route to having culturally defining con tent. 335 00:22:00,800 --> 00:22:06,440 Speaker 1: You know. I think had we, you know, if we 336 00:22:06,440 --> 00:22:10,800 Speaker 1: were designing a show, you know, for a platform, I 337 00:22:10,840 --> 00:22:14,600 Speaker 1: don't know that Modern Family would have come to be 338 00:22:14,720 --> 00:22:16,840 Speaker 1: if we said, you know, you're at Fox, You're inside 339 00:22:16,840 --> 00:22:19,000 Speaker 1: the Fox network. I mean, we always said, even when 340 00:22:19,040 --> 00:22:21,760 Speaker 1: we were just part of the Fox universe at twenty 341 00:22:21,840 --> 00:22:25,320 Speaker 1: century Fox Television, in the case of a tie, the 342 00:22:25,400 --> 00:22:32,000 Speaker 1: home team wins. And it's really am a great benefit 343 00:22:32,200 --> 00:22:35,639 Speaker 1: to be the in house studio and have the right 344 00:22:35,680 --> 00:22:39,920 Speaker 1: show for that network. But it's also a terrible situation 345 00:22:40,200 --> 00:22:43,600 Speaker 1: when you're inside a company and you've jammed a project 346 00:22:43,720 --> 00:22:46,800 Speaker 1: to assist or company when it doesn't belong there. I mean, 347 00:22:46,840 --> 00:22:49,920 Speaker 1: I think about, you know, Steve Levitan and Chris Lloyd 348 00:22:50,000 --> 00:22:52,679 Speaker 1: creating Back to You with Patricia Heaton and Kelsey Grammar, 349 00:22:52,840 --> 00:22:56,240 Speaker 1: and it ended up on Fox, and there were a 350 00:22:56,280 --> 00:22:59,480 Speaker 1: lot of internal pressures to deliver it there. And you know, 351 00:22:59,520 --> 00:23:01,760 Speaker 1: had we it cane to CVS at the time, it 352 00:23:01,760 --> 00:23:04,120 Speaker 1: would probably still be on. The error would just be 353 00:23:04,480 --> 00:23:07,639 Speaker 1: coming to an end right now. And you know, you 354 00:23:07,720 --> 00:23:11,520 Speaker 1: learn from all of those experiences, but we're not retrofitting. 355 00:23:11,720 --> 00:23:15,960 Speaker 1: We're trying. The first part of our process is what's 356 00:23:16,000 --> 00:23:19,840 Speaker 1: the best possible idea, and then we try taking that 357 00:23:19,880 --> 00:23:22,359 Speaker 1: project to the place that it can succeed in its 358 00:23:22,440 --> 00:23:27,560 Speaker 1: best form um. You know, it's it's It's very well 359 00:23:27,640 --> 00:23:30,560 Speaker 1: understood that one of the toughest things about any large integration, 360 00:23:30,640 --> 00:23:33,440 Speaker 1: of course, is the coming together of two very different cultures. 361 00:23:33,680 --> 00:23:35,439 Speaker 1: I think it's fair to say that Disney and Fox 362 00:23:35,640 --> 00:23:39,360 Speaker 1: had very You grew up in very different cultures. How 363 00:23:39,480 --> 00:23:43,080 Speaker 1: is that? How is that melding going? And I think 364 00:23:43,119 --> 00:23:46,280 Speaker 1: about the extra layer right now in our industry, there's 365 00:23:46,280 --> 00:23:49,080 Speaker 1: a lot of scrutiny. You know, this industry has been 366 00:23:49,160 --> 00:23:51,280 Speaker 1: jolted by the Me too movement. There's a lot of 367 00:23:51,320 --> 00:23:54,680 Speaker 1: scrutiny about inclusion and diversity. How are you managing all 368 00:23:54,680 --> 00:23:57,359 Speaker 1: of that on a people basis. Wow, that was a 369 00:23:57,359 --> 00:23:59,399 Speaker 1: lot of questions, as I know, and we only have 370 00:23:59,440 --> 00:24:05,280 Speaker 1: a few minutes out. Okay, let me try to sweeping cut. 371 00:24:05,480 --> 00:24:07,199 Speaker 1: How do you make how do you how do you 372 00:24:07,280 --> 00:24:09,720 Speaker 1: get the culture you want your company to have. I 373 00:24:09,800 --> 00:24:13,240 Speaker 1: actually don't think the two cultures are so different, and 374 00:24:13,320 --> 00:24:16,159 Speaker 1: that is what I've noticed as I spend more time 375 00:24:16,280 --> 00:24:19,960 Speaker 1: at Disney. These are both places that have best in 376 00:24:20,040 --> 00:24:25,560 Speaker 1: class executives throughout their organizations. UM, I would say what 377 00:24:25,720 --> 00:24:30,160 Speaker 1: I've learned personally in a short time is that, um, 378 00:24:30,160 --> 00:24:33,400 Speaker 1: at Fox, we were a little bit more siloed in 379 00:24:33,520 --> 00:24:36,679 Speaker 1: each of the different companies, you know, towards the end 380 00:24:36,880 --> 00:24:39,480 Speaker 1: twenty one century, Fox was I think a little bit 381 00:24:39,480 --> 00:24:43,439 Speaker 1: more of a holding company than it was, you know, 382 00:24:43,600 --> 00:24:53,080 Speaker 1: a corporate management for the various divisions. So UM, I'd 383 00:24:53,119 --> 00:24:57,440 Speaker 1: say the process at times was quicker, but not as thoughtful, 384 00:24:58,280 --> 00:25:02,920 Speaker 1: and there weren't the deep resources that we have now 385 00:25:02,960 --> 00:25:07,639 Speaker 1: at Disney everywhere from you know, HR, which I have 386 00:25:07,720 --> 00:25:12,560 Speaker 1: found to be an extraordinary organization at Disney of very 387 00:25:12,600 --> 00:25:17,200 Speaker 1: senior level executives who have been so thoughtful about the culture, 388 00:25:17,760 --> 00:25:21,840 Speaker 1: about welcoming the Fox executives, and we actually did a 389 00:25:21,920 --> 00:25:25,960 Speaker 1: whole day, Disney put on the whole day for the 390 00:25:26,080 --> 00:25:30,080 Speaker 1: incoming Fox team. It was an onboarding session where each 391 00:25:30,119 --> 00:25:33,439 Speaker 1: of the division heads you know, from Bob Jacob Check 392 00:25:33,520 --> 00:25:39,400 Speaker 1: at the parks to Kevin Mayer, Bob Iger started the day, UM, 393 00:25:39,440 --> 00:25:42,639 Speaker 1: Alan Bergman and Alan Horne who just sat with us 394 00:25:42,640 --> 00:25:45,320 Speaker 1: in such a thoughtful way to tell us how they 395 00:25:45,359 --> 00:25:49,240 Speaker 1: think about their business and whatever they're doing, which we've 396 00:25:49,280 --> 00:25:52,520 Speaker 1: now had some insight into their doing it really well. 397 00:25:53,040 --> 00:25:56,000 Speaker 1: And we've just all learned so much and I can 398 00:25:56,040 --> 00:25:59,879 Speaker 1: speak on behalf of all of the Fox former Fox executives. 399 00:26:00,200 --> 00:26:02,960 Speaker 1: That's been a pleasure and it's been kind of mind 400 00:26:03,000 --> 00:26:07,919 Speaker 1: blowing to see how this extraordinary global organization thinks about 401 00:26:07,960 --> 00:26:11,800 Speaker 1: all of these decisions. So culture I have found not 402 00:26:11,960 --> 00:26:16,480 Speaker 1: to be as steep an integration process as everybody likes 403 00:26:16,520 --> 00:26:22,480 Speaker 1: to talk about. UM me too, you know, really hard 404 00:26:23,080 --> 00:26:25,720 Speaker 1: uh and continues to be something we think about all 405 00:26:25,760 --> 00:26:30,000 Speaker 1: the time. And I guess I would say for myself personally, 406 00:26:30,480 --> 00:26:32,880 Speaker 1: you know, going through the past couple of years as 407 00:26:32,880 --> 00:26:38,000 Speaker 1: a senior level female executive, I've been sort of stunted, 408 00:26:38,080 --> 00:26:45,560 Speaker 1: stunned and saddened at what I thought was an organization 409 00:26:45,680 --> 00:26:48,879 Speaker 1: run by a woman would be a place where younger 410 00:26:48,960 --> 00:26:55,680 Speaker 1: women and women threat an organization would feel empowered to 411 00:26:55,840 --> 00:27:01,160 Speaker 1: step forward and um talk about conditions which are intolerable 412 00:27:01,320 --> 00:27:05,479 Speaker 1: or stand up for themselves UM and feel like they 413 00:27:05,480 --> 00:27:07,760 Speaker 1: would be supported just by virtue of the fact that 414 00:27:07,840 --> 00:27:11,160 Speaker 1: I'm sitting in the seat I am in, and that 415 00:27:11,320 --> 00:27:15,439 Speaker 1: was very naive. You know. The bottom line is having 416 00:27:15,520 --> 00:27:21,960 Speaker 1: gender balance throughout an organization is mandatory, and female executives 417 00:27:21,960 --> 00:27:26,760 Speaker 1: have to sit in every meeting in the same number 418 00:27:26,920 --> 00:27:29,600 Speaker 1: as their male counterparts, and they have to be seen 419 00:27:29,680 --> 00:27:33,680 Speaker 1: throughout the management chain. And that's a lot of what 420 00:27:33,720 --> 00:27:36,520 Speaker 1: we worked on at Fox. I actually was very proud 421 00:27:36,560 --> 00:27:42,120 Speaker 1: at the point the transaction closed of our workforce from 422 00:27:42,119 --> 00:27:47,399 Speaker 1: senior vice president down were women, and I thought that 423 00:27:47,480 --> 00:27:49,680 Speaker 1: was a good move in the right direction in terms 424 00:27:49,760 --> 00:27:54,200 Speaker 1: of inclusion and genuine diversity. We have so much more 425 00:27:54,240 --> 00:27:57,760 Speaker 1: work to be done, and you know, we just had 426 00:27:57,800 --> 00:28:01,960 Speaker 1: an incredible UM summit where we heard from a lot 427 00:28:02,000 --> 00:28:06,679 Speaker 1: of different specialists and I think just continued continuing to 428 00:28:06,760 --> 00:28:10,720 Speaker 1: think about what our processes are, what are unconscious biases are, 429 00:28:11,040 --> 00:28:14,280 Speaker 1: how to overcome them, how to create a pipeline of 430 00:28:14,560 --> 00:28:20,000 Speaker 1: creative executives and creators in our organization that represent genuine 431 00:28:20,000 --> 00:28:24,800 Speaker 1: inclusion is good for business. It's not politically correct. It's 432 00:28:24,840 --> 00:28:29,720 Speaker 1: a scenario for success. And those are agendas that are 433 00:28:29,760 --> 00:28:33,119 Speaker 1: wildly supported by Disney. So I think we're all on 434 00:28:33,160 --> 00:28:36,000 Speaker 1: a really good track right now. Yeah, it's been a 435 00:28:36,119 --> 00:28:38,040 Speaker 1: it's been a rocky road, but I feel like the 436 00:28:38,160 --> 00:28:42,400 Speaker 1: awareness in the the sensitivity is so heightened. Will you 437 00:28:42,440 --> 00:28:44,560 Speaker 1: have so many things to do? We are so grateful 438 00:28:44,600 --> 00:28:46,160 Speaker 1: that you spent and I have to get to Burbank 439 00:28:46,680 --> 00:28:51,000 Speaker 1: established exactly. Thank you so much time and spending. We're 440 00:28:51,000 --> 00:28:56,720 Speaker 1: I'm happy to be here. Thank you, Thanks for listening. 441 00:28:57,080 --> 00:28:59,400 Speaker 1: Be sure to tune in next week for another episode 442 00:28:59,440 --> 00:29:00,360 Speaker 1: of Strictly s