While The CW (US) concluded the upfront presentations in New York this week, much attention remains focused on what could lie ahead for the young-adult skewing network.
The CW owners, now called Paramount Global and Warner Bros. Discovery Inc., may be nearing a sale for the broadcast network. Nexstar Media Group Inc., the nation's largest operator of TV stations overall and the network's leading affiliate group, is reportedly the top contender.
During a May 19 conference call with reporters, The CW Chairman and CEO Mark Pedowitz said there was nothing new to share about reports of a potential sale, saying, "These things take time."
Asked about what The CW's schedule could look like in a few years, Pedowitz said he hoped that there would be a decent amount of scripted fare, even as the network has begun a transition to more alternative and acquired shows. Pedowitz also was looking for the network to enter the realm of half-hour sitcoms.
"I do hope, after there is a sale, that it will open up the avenues of other producers and studios to come to us beyond Warner Bros. and CBS, which means more opportunity," the executive said.
In the meantime, Pedowitz said it was business as usual for the 2022-23 season ahead.
Some would argue otherwise. After years of largely renewing its entire slates, The CW canceled 10 shows, including "Roswell," "Batwoman," "Charmed," "Legacies" and "Legends of Tomorrow."
Seven new ones are on tap, including three from its owners' studios: "Walker Independence," the origin story to "Walker;" "The Winchesters," the "Supernatural" forbear; and "Gotham Knights," the latest iteration of the Batman story.
Pedowitz acknowledged the level of cancellations veered from the past and "why it came as a bit of shock for fans." The executive said none of the calls were easy, amid conversations with studios and their parent companies. "Difficult financial and strategic decisions were made at every level."
In contrast to its larger upfront competitors this week who trumpeted myriad properties with attendant business interests, The CW emphasized its singular brand on broadcast, social media and streaming.
The includes The CW app that was relaunched in April to include library fare that had been housed on CW Seed. The app is growing and counts over 100 million downloads to date. It has generated almost 30 million annual views, according to Pedowitz.
After inking a streaming deal covering its entire lineup with Netflix in 2011, Warner Media and CBS Studios in 2019 elected to bring most of the content back in house for their streaming services HBO Max and Paramount+.
For the 2021-22 season, The CW has held full-season stacking rights to 14 series, allowing viewers on an unauthenticated basis on the company's app and website, following the episodes' initial broadcasts on the linear channel. That number will grow to 18 for the upcoming TV season.
Pedowitz and Rob Tuck, executive vice president of national sales, said on the call that The CW pioneered the converged approach to presenting and selling linear and digital advertising, creating a blueprint that other media companies are following.
Tuck said more budgets have shifted to digital in the past couple of years. "That's been happening to us for a lot longer," Tuck said, pointing to The CW's younger audience and their proclivity toward streaming.
Tuck said that given macroeconomic conditions and supply chain issues, including those impacting the auto industry, he has held lots of conversations with clients. Tuck also pointed to what could be a challenging year for the stock market as another factor that could impact upfront sales.
Still, advertisers need to get their messages across, Tuck said. Although its "a bit early to tell," Tuck believes that "the demand will be there during the upfront."
