A question came to mind while reading about the restructurings at Disney and Netflix this past week, and the ongoing restructuring of AT&T‘s WarnerMedia in past weeks: Who is/are the customer(s) who benefit from these restructurings?
I started with this question because that can help filter out the problem these major corporate efforts are solving for. And, I end with the IAC MGM Hypothesis because it gives us a sense of whether these restructurings have a larger purpose in mind.
At Disney and WarnerMedia is that restructurings solve for necessary operational changes reflecting streaming becoming the dominant distribution paradigm, while also addressing declines in legacy media models which COVID has accelerated.
At Netflix, restructuring solves for suboptimal performance of TV content on the most dominant platform of the streaming era.
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