Former head of Paramound and Fox Studios has said 'Hollywood is now irrelevant,' in an interview out on Monday with Kara Swisher of the 'Recode Decode' podcast.
IAC Chairman Barry Diller made the comment while pointing out film studios used to acquire their competition once it got to a certain level, but that wouldn't be happening with Netflix and Amazon.
'Netflix has won this game,' Diller told Swisher while discussing streaming content, which is the most direct-to-viewer route of distribution available.
'I mean, short of some existential event, it is Netflix’s. No one can get, I believe, to their level of subscribers, which gives them real dominance.'
Former head of Paramound and Fox Studios Barry Diller (pictured) has said 'Hollywood is now irrelevant,' in an interview out on Monday with Kara Swisher of the ' Recode Decode ' podcast. Diller is pictured at the Lincoln Center's American Songbook Gala, which he co-chairs, at Alice Tully Hall on May 29 in New York City
Diller talked about how film productions studio heads used to have a monopoly over the distribution of content.
'It used to be if you could get your hands on a movie studio, you were sitting at a table with only five other people. And so that table dominated media worldwide,' he said, adding, 'That’s over.'
Diller noted film studios have historically been able to acquire their competition, but Netflix and Amazon are already too big for that.
'It didn’t matter that [film studios] started it. When it got big enough, they got to buy it,' Diller said.
'For the first time, they ain’t buying anything. Meaning they’re not buying Netflix. They are not buying Amazon.'
Diller pointed out that film studios used to acquire their competition once it got to a certain
