Diller, the former CEO of Paramount and Fox, talks about the diminished power of movie studios and why “Netflix has won this game” on the latest Recode Decode.
Before he became a tech mogul, IAC and Expedia Group chairman Barry Diller was a media mogul, working in executive roles at ABC, Paramount, and Fox. But now, he says, the people who used to have all the power in the entertainment business have a lot less.
“Hollywood is now irrelevant,” Diller said on the latest episode of Recode Decode, hosted by Kara Swisher. “… It was these six movie companies essentially were able to extend their hegemony into everything else. It didn’t matter that they started it. When it got big enough, they got to buy it. For the first time, they ain’t buying anything. Meaning they’re not buying Netflix. They are not buying Amazon.”