Showtime Entertainment President Jana Winograde Says “Belt Tightening Is Coming”

deadline.com:

“Belt tightening” is coming, according to Showtime Entertainment President Jana Winograde, who said studio bosses will need to find “creative ways” to deal with the global macroeconomic crisis.

According to Winograde, higher budget tentpoles will remain but “we will need to find creative ways” to fund lower budget shows that are “equally as compelling but may not have crashes, UFOs or production sequences.” “There will be belt tightening,” said Winograde, referring to the global cost-of-living crisis that will no doubt impact TV over the coming years. “Nobody wants to reduce the amount of content they are doing so hopefully people will find creative ways.” Speaking at Content London, Winograde stressed the “glory of diversification” in the Paramount Global-owned outfit.

Others have seen the diversification of Showtime’s distribution, in-house programing and various output deals and have realized this is the way forward in today’s TV age,’ she said. “Diversify, diversify, diversify is the basic tenet of economics,” added Winograde. “The more income streams you have the better off you are.

I think others who really went all in on streaming are seeing the glory of various revenue streams. It makes perfect sense.” The Wall Street Journal recently reported that Paramount is considering folding Yellowjackets network Showtime into streamer Paramount+, while SkyShowtime – a JV between Peacock owner Comcast and Paramount – is currently rolling out in various European territories.