In Hollywood, there’s a new sheriff — or sheriffs — in town, according to Barry Diller. The IAC chairman said huge tech companies like Apple have now replaced legacy studios like Disney and Paramount as the leaders of the entertainment world.
“What is the definition of the leadership of Hollywood? The definition is that it has moved to technology companies. Netflix, Amazon and Apple are really the controllers of what we would call the worldwide film and television business,” Diller said Friday. “That’s, to say the least, a country mile from what our imagery of Hollywood was.”
His comments were made at FT’s Business of Entertainment Summit in West Hollywood, Calif.