In light of WarnerMedia’s exit, its director Jason Kilar said the future of Hollywood is on blockchain, and new opportunities should be sought at the intersection of technology and traditional forms of storytelling.
Mr. Kilar announced his departure from WarnerMedia on the eve of the company’s merger with Discovery, led by a common owner – telecommunications conglomerate AT&T. He stressed that he will not retire, although he did not disclose his plans. During his career, the top manager managed to work in both Hollywood and Silicon Valley. He now believes the entertainment business will be transformed amid the development of blockchain technologies and the ease of buying non-fungible tokens (NFTs) related to digital art.
“I think it will [новой] a wave that will come to Hollywood just like the DVD wave did in the ’90s. It has obviously changed the economic fortunes of many of these companies, including WarnerMedia.”— said Mr. Kilar in an interview with the agency Reuters. In his opinion, the blockchain will also open up new forms of financing for Hollywood.
Jason Kilar brings extensive experience in the technological transformation of the entertainment industry. He helped launch the Hulu platform in 2008 and refused to embrace the traditional TV experience of streaming. Five years later, he left the company due to disagreements with his co-owners, who insisted on increasing advertising and discontinuing the free version of the service. At the height of the pandemic in 2020, he joined WarnerMedia and credits his performance to hybrid releases — releasing blockbusters simultaneously in theaters and streaming service HBO Max. The first was an experiment with the painting Wonder Woman: 1984. The move has brought a flood of powerful content to the service as the pandemic disrupted production schedules across the industry, adding 73.8 million new subscribers to the HBO Max platform and cable network HBO.