Topline:
Sony Pictures Entertainment CEO Tony Vinciquerra announced that he will be stepping down from his post at the end of the year, to be replaced by president and COO Ravi Ahuja in an orderly succession.
Why it matters: When Vinciquerra started at Sony, the company was still fresh off its 2014-15 hack and didn’t have a clear streaming strategy. But in his seven years at the helm, Vinciquerra has kept the business on track, and avoided the catch-all streaming pothole that has challenged rival legacy studios. Sony now operates as a lucrative “arms dealer” to other streaming services, licensing its titles.
Vinciquerra’s fruitful tenure: Vinciquerra didn’t avoid streaming altogether; Sony films go to Netflix after their theatrical run, a deal which has been successful for both companies. He acquired Crunchyroll, an anime streamer, for $1.1 billion. In the time since the purchase, the platform has become profitable and its subscriber base has tripled. Vinciquerra also got Sony out of cable TV before its collapse, and finally turned Sony’s gaming IP, including The Last of Us to Uncharted, into worthwhile adaptations.
Ahuja’s big directives: Going forward, incoming CEO Ravi Ahuja will be charged with growing Sony’s theme park licensing business, negotiating a new deal with Netflix (or someone else for Sony’s movies on streaming) and navigating Sony’s core TV business as the television landscape continues to undergo large-scale change.
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