Joe Ravitch, founder and partner at The Raine Group, discusses the secret to successful media mergers, the 2024 dealmaking landscape, potential risks for creatives in industry consolidation, appetite for tech companies to buy content companies, and Matt Belloni predicts John Stewart's return to 'The Daily Show.'
Consolidation plays a crucial role in creative businesses and media mergers, with bankers and advisors quarterbacking these deals.
The push for profitability among streamers is pressuring big media companies, leading to the collapse of linear TV and the need for a rebundling strategy in the future.
Deep dives
The Landscape of Media Mergers and Consolidation
The podcast episode explores the history of media mergers and the challenges they face. It highlights previous examples such as AOL acquiring Time Warner and AT&T's acquisition of Time Warner. The episode also discusses the potential merger between Warner Discovery and Paramount Global. The speaker emphasizes the importance of consolidation in creative businesses and the role of bankers and advisors in quarterbacking these deals.
The Future of Media Deals and Global Market
The speaker interviews Joe Ravitch, an expert in media deals and investments. They discuss the deal-making landscape in media and entertainment, especially on the global stage. Joe Ravitch shares insights on the hot areas in the industry, including the sports sector and the increasing monetization opportunities it presents. He also discusses the challenges faced by broadcasters and the shrinking audience for traditional media. Additionally, they touch on the rising importance of owning back-end rights and the changing dynamics between talent and streamers.
The Impact on Streaming Services and Big Media Companies
The episode delves into the challenges faced by streaming services and how it impacts big media companies. The speaker highlights the push for profitability among streamers and the pressure it puts on media companies. They discuss the collapse of linear TV and its effect on big media companies' multiples. The speaker speculates about the future of companies like Paramount and suggests that becoming an arms dealer may be a better strategy. They also examine the streaming landscape and the potential for a rebundling strategy in the future.
Regulatory Issues and the Future of Content Ownership
The podcast episode touches on the regulatory challenges in the media industry, particularly regarding consolidation. The speaker discusses the role of Lina Khan and her opposition to media mergers on antitrust grounds. They also consider the impact on artists and content creators as consolidation occurs. The speaker expresses hope for media consolidation and suggests the reintroduction of thin rules to limit streamers' ownership of content. They also share their beliefs about the future of the entertainment landscape, including the persistence of diverse distribution platforms and the importance of content over distribution.
Matt is joined by Joe Ravitch, the founder and partner at The Raine Group, to discuss the secret to a successful media merger, the dealmaking landscape in 2024, whether looming consolidation could hurt creatives in the industry, the appetite for tech companies to buy content companies, and more. Matt finishes the show with a prediction about John Stewart’s return to ‘The Daily Show.’
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