This week, media and tech giants will gather in Sun Valley to discuss the future of streaming and explore potential strategic alliances.
Allen & Co.’s annual conference, known as “billionaires’ summer camp,” kicks off Tuesday at a ski lodge in Idaho. Since 1983, the event has been the birthplace of major media deals and a space for industry leaders to discuss the future of their businesses and the broader economy.
The guest list for Sun Valley includes media leaders like Warner Bros. Discovery’s David Zaslav; Disney’s Bob Iger and his potential successors Dana Walden, Alan Bergman, Josh D’Amaro and Hugh Johnston; as well as Netflix co-CEOs Ted Sarandos and Greg Peters; along with tech titans like Amazon’s Andy Jassy and Jeff Bezos; and Apple CEO Tim Cook. While these moguls are regular guests, there’s no guarantee they’ll all be there this year.
Regular Shari Redstone is also on the guest list. Her appearance follows the merger of Paramount Global, which she controls, with Skydance after months of negotiations.
The process of this dramatic deal will likely be debated. But more importantly, Sun Valley could be the key location to advance the deal talks. The Skydance merger includes a 45-day clause to receive additional offers, leaving room for new bidders.
In a broader context, the Paramount deal will be the backdrop for a discussion about how to make the streaming business profitable. Previously, media companies chased high subscriber numbers to outdo each other. This time, the focus will be on how to join forces to make the difficult streaming business work.
“The really big story here, no doubt, is how these companies make streaming TV work globally,” said Neil Begley, an analyst at Moody’s Investors Services. “It’s going to be more aggressive use of bundling services or doing joint ventures or mergers.”
A view of the Sun Valley Lodge in Sun Valley, Idaho.
Image by Drew Angerer