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Netflix Hires Channing Dungey, Fortifies its Executive Line Up
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Reportedly, Netflix (NFLX - Free Report) is strengthening its top executives’ line-up with the recent appointment of Channing Dungey — the former president of ABC Entertainment.
Dungey, who oversaw several popular shows including Scandal and How to Get Away With Murder during her tenure with Disney’s (DIS - Free Report) owned ABC, will now join Netflix as the vice president of original content in February 2019. Her role involves laying out strategic plans for the company’s original content productions including overseeing its deals with top-writers and producers.
Per reports, Dungey will be working with the likes of Shonda Rhimes, Kenya Barris and Jenji Kohan, among others. Also, she will be involved with Higher Ground Productions to produce films and series about the Obama’s as part of their multi-year agreement.
With the streaming platform being flooded with increasing number of original TV shows and movies each quarter, we expect Dungey’s experience to help Netflix produce quality content that may attract subscribers. Per variety, Netflix produced 676 hours of original programming in third-quarter 2018, up 50% sequentially and 133.9% year over year.
Moreover, as big names like Apple (AAPL - Free Report) , Disney and AT & T (T - Free Report) are aggressively pushing to launch their own streaming service, we believe that Dungey’s expertise might help Netflix gain edge over its peers.
Prior to this latest move, Netflix poached producers Shonda Rhimes and Kenya Barris, who are known for their hit shows at ABC. Additionally, in order to boost its film production slate, Netflix also onboarded Tendo Nagenda, former Disney production exec, earlier this year.
The appointment of Christie Fleischer, a former Disney executive, in September 2018 is also worth mentioning. Fleischer was appointed as the head of Netflix’s Global Consumer Products division. Netflix too hired Rachel Whetstone as its new chief communications officer, who was a former Facebook executive.
Notably, a series of top executives joining Netflix, especially from its rival companies, depicts the attractiveness of the company.
These significant appointments become even more notable as Disney is gearing up to launch its own streaming service after completing Twenty-First Century Fox merger. The number of top executives leaving Disney does not bode well for the company.
However, Disney’s spend on original content is way ahead of Netflix’s spend for 2018 alone.
While Netflix currently carries a Zacks Rank #3 (Hold), Disney has a Zacks Rank #4 (Sell).
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Netflix Hires Channing Dungey, Fortifies its Executive Line Up
Reportedly, Netflix (NFLX - Free Report) is strengthening its top executives’ line-up with the recent appointment of Channing Dungey — the former president of ABC Entertainment.
Dungey, who oversaw several popular shows including Scandal and How to Get Away With Murder during her tenure with Disney’s (DIS - Free Report) owned ABC, will now join Netflix as the vice president of original content in February 2019. Her role involves laying out strategic plans for the company’s original content productions including overseeing its deals with top-writers and producers.
Per reports, Dungey will be working with the likes of Shonda Rhimes, Kenya Barris and Jenji Kohan, among others. Also, she will be involved with Higher Ground Productions to produce films and series about the Obama’s as part of their multi-year agreement.
With the streaming platform being flooded with increasing number of original TV shows and movies each quarter, we expect Dungey’s experience to help Netflix produce quality content that may attract subscribers. Per variety, Netflix produced 676 hours of original programming in third-quarter 2018, up 50% sequentially and 133.9% year over year.
Moreover, as big names like Apple (AAPL - Free Report) , Disney and AT & T (T - Free Report) are aggressively pushing to launch their own streaming service, we believe that Dungey’s expertise might help Netflix gain edge over its peers.
Netflix, Inc. Revenue (TTM)
Netflix, Inc. Revenue (TTM) | Netflix, Inc. Quote
Should Disney be Wary of Netflix’s Moves?
Prior to this latest move, Netflix poached producers Shonda Rhimes and Kenya Barris, who are known for their hit shows at ABC. Additionally, in order to boost its film production slate, Netflix also onboarded Tendo Nagenda, former Disney production exec, earlier this year.
The appointment of Christie Fleischer, a former Disney executive, in September 2018 is also worth mentioning. Fleischer was appointed as the head of Netflix’s Global Consumer Products division. Netflix too hired Rachel Whetstone as its new chief communications officer, who was a former Facebook executive.
Notably, a series of top executives joining Netflix, especially from its rival companies, depicts the attractiveness of the company.
These significant appointments become even more notable as Disney is gearing up to launch its own streaming service after completing Twenty-First Century Fox merger. The number of top executives leaving Disney does not bode well for the company.
However, Disney’s spend on original content is way ahead of Netflix’s spend for 2018 alone.
While Netflix currently carries a Zacks Rank #3 (Hold), Disney has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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