Upfronts 2022 Kick into Gear, but CW Downsizes
We’re fast reaching one of the most exciting deal-making ventures of the year- the Upfronts. While it’s early days yet for the Upfronts, we’ve already seen some massive shifts from TV broadcasting company, CW. Entertainment attorney Brandon Blake, with Blake & Wang P.A, has the news.
Reduced Content
The first takeaway was a notable reduction in
original scripted series for CW, dropping from last year’s 19 to 11 picked up
for the new year. It’s a significant drop, even with the overall contraction in
the linear network market, and a noted contrast to their expansion over the
last few years. CWs pending sale to Nexstar, closing in the next couple of
weeks, is mostly to blame. Instead of the rubber-stamping of all series we’ve
seen from them in recent years, only the strongest ratings survived.
Having long operated as an extension of its
parent holdings- CBS TV Studios and Warner Bros- the CW has traditionally
launched series for later exploitation by the larger studios. Nowhere was this
clearer than the continued renewal of (now axed) Dynasty, which was a
repeated underperformer for CW itself, but a rich deal for Netflix and CBS
Studios, and a money-spinner despite its performance on the network.
Changed Landscape
While both Paramount and Warner Bros Discovery
will retain some interest in the network, it’s easy to see why the downgrade to
minority stakes and focus on channeling programming elsewhere would relegate CW
to also-ran status for them. Likewise, the demise of the deal with Netflix for
CW programming will see newer series channeled to Paramount+ and HBO Max.
But financial constraints play a role, too.
That’s clear as some great performers, including fan-favorite Legacies and
In the Dark, arguably CW’s best series, also hit the chopping block.
Despite the reduction, acquired scripted
programming will see a rise. All the same, there’s clearly a new era coming for
the channel. It will be interesting to see what other changes to the content
landscape the Upfronts bring as they kick into high gear over the next few
weeks. We will, of course, keep you in the loop.
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