Warner Bros. Discovery ad sales chief Jon Steinlauf is set to depart the media giant later this year.
In his current role, Steinlauf is responsible for overseeing sales, research, marketing, branded entertainment, pricing and inventory control, as well as developing advanced advertising and convergent revenue streams for the company’s ad-supported content portfolio.
In addition to creating Warner Bros. Discovery’s ad sales organization, Steinlauf helped lead the team that launched Max’s ad-supported sales business last year. He also integrated sports and digital sales into the broader sales structure to create the One WBD portfolio offered to agencies and clients.
“Jon is one of the industry’s most respected and well-known ad sales executives and has had an incredible career here at WBD through the major mergers, transformations and industry pivots,” chief revenue officer and strategy officer Bruce Campbell told staff in a memo on Friday. “He’s been a critical part of our leadership at the company, and someone both David [Zaslav] and I have come to rely on for many years. We are very grateful for all Jon has done for us, and while supportive of his personal desire to seek other directions in his life and career, we will clearly miss him.”
Steinlauf will remain in the role while a search for his successor is underway.
Previously, Steinlauf served as the ad sales chief for Discovery Inc., where he was instrumental in the creation and monetization of the company’s integrated marketing strategies. Before that, Steinlauf was advertising sales president at Scripps Networks, which was acquired by Discovery in 2018.
He joined Scripps in 2000 as vice president of advertising sales, overseeing the direction of HGTV and DIY Network, before being elevated to run the entire ad sales division in 2003. Prior to joining Scripps, Steinlauf served as TBS and TNT’s vice president of ad sales after serving as an account executive and sales manager for Turner Broadcasting System, Inc.
“I have had the privilege of representing this great portfolio of brands for the last 32 years — at Turner, Scripps, Discovery and now at WBD. I’m grateful for the opportunities that David Zaslav, Bruce Campbell and other leaders have given to me,” Steinlauf said in a statement. “This is the right time to begin a new chapter both personally and professionally.”
“It is incredible to look back at my early years at ESPN, and the birth of cable, to see how the business has grown and transformed. I have had the good fortune to have always worked with, and for, the best companies, brands and people. And this includes all of you,” he continued. “I couldn’t be prouder and more appreciative of this ad sales team and what we accomplished together in both the prosperous and challenging times.”
His departure comes as Warner Bros. Discovery reported a $1o billion net loss in the second quarter of 2024, which included $11.2 billion in charges during the quarter — $9.1 billion in a non-cash goodwill impairment charge from the networks segment and $2.1 billion in restructuring expenses and other adjustments.
The goodwill impairment was triggered in response to the difference between WBD’s market capitalization and the book value of the networks segment, continued softness in the U.S. linear advertising market and uncertainty related to affiliate and sports rights renewals, including the company’s recent loss of the NBA.
Networks segment advertising revenue fell 10% during the quarter to $2.2 billion, primarily driven by domestic networks audience declines of 13% and the soft advertising market in the U.S. Meanwhile, ad revenue in the direct-to-consumer segment jumped 8% to $240 million, primarily driven by higher domestic Max engagement and ad-lite subscriber growth. The ad-lite tier has rolled out in 39 markets across Latin America and a “handful” of markets in Europe, with plans to continue to expand the offering in more markets.
During the company’s latest upfront negotiations, Max volume grew by nearly 50%, while the linear business saw strong pricing and double-digit growth in sports, led by increased demand for the company’s coverage of March Madness, Major League Baseball, NBA, the NHL and the Stanley Cup Finals, as well as new properties like NASCAR and the French Open.
In addition to Steinlauf, U.S. Networks chairman and CEO Kathleen Finch is set to retire at the end of the year. Finch will be replaced by Warner Bros. Television Group chairman and CEO Channing Dungey.
Leave a Reply