Show notes
Welcome to an audio-led edition of Unmade. Today’s conversation features the boss of Paramount’s Network Ten, Beverley McGarvey, in one of the first interviews since her promotion, alongside the global head of the Paramount+ Marco Nobili.Of all the media brands in Australia, the future of Paramount and its free to air network Ten, is the hardest to predict, with both global and local forces at play.Globally, the ownership of Paramount is developing into a tug-of-war between private equity house Apollo and content giant Skydance. Apollo appears to be interested in just the company’s US studio assets, while Skydance is talking to controlling shareholder Shari Redstone about a deal which would likely see it take control of the whole company. A merger with Warner Bros Discovery has also been floated, although that looks a less likely option.The ramifications of all that for Network Ten would inevitably follow later.Key to the future of Paramount, which also owns US TV network CBS, is its loss-making but still growing streaming service Paramount+, which has now reached 67m subscribers globally. No local figures have been released for the service but according to Kantar panel research, Paramount+ had a 10% share of new subscribers locally in the last quarter.Key to the market valuation of Paramount, which is close to a historic low, is persuading investors that the company can take Paramount+ into profitability. One of the global execs charged with that is Marco Nobili, Paramount+’s International general manager.Nobili was in Australia this week for the announcement of an Australian advertising tier for Paramount+, priced at $6.99 and kicking off in June.Meanwhile, Paramount’s local boss Beverley McGarvey - recently promoted to the lengthy title of President Network Ten, Head of Streaming & Regional Lead - has multiple challenges. Ten continues to struggle in the ratings without the rights to any top tier sports. It’s commercial linear audience share in the first quarter was only about 20%. But that’s only part of the picture. Alongside the subscription offering of Paramount+, McGarvey is also in charge of ad-supported streaming via 10 Play and FAST (free ad supported television) channels offering Pluto TV.And all that while keeping staff focused as speculation only gets louder about the global future of Paramount.In today’s conversation with Unmade’s Tim Burrowes, Nobili and McGarvey discuss the challenges of leading a team during that sort of noise. According to McGarvey, a veteran of Network 10’s 2017 fall into administration which saw what is now Paramount end up as the owner, it’s business as usual: “If you work in a media company and you're not used to constant speculation, it would be unusual.“There's a long period of consolidation, of change, of addition and things happening, and most people now are really good at understanding that creating a great service, a great product and being a really strong business no matter what happens in the end, is the best outcome. I think people honestly are used to working in that environment these days. If you look at any trade publication on any day of the week, there's speculation about somebody.”During the conversation, topics include the content pipeline after the Hollywood writers’ strike; Top Gear Australia, the next round of sports rights; the unusual structure which sees chief sales officer Rod Prosser reporting into the UK, and the impact on the free to air sector of feuding between networks.Editing of today’s audio contentwas courtesy of Abe’s Audio, the people to talk to about voiceovers, sound design and podcast production.Message us: [email protected] BurrowesPublisher - Unmade This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit unmade.substack.com