Peter Stern Departs Apple, Apple’s Services Reorganization, My Concern With Warner Bros. Discovery (Daily Update)
Hello everyone. Today’s update kicks off with Neil’s thoughts on Peter Stern departing Apple. The discussion then expands to talk about Apple’s Services reorganization. We conclude with some qualutiative takeaways from Warner Bros. Discovery’s most recent earnings call. Neil has a concern with the company’s strategy. Let's jump right in.
Peter Stern Departs Apple
In an article published back in January, here’s Claire Atkinson over at the Insider:
“One of Apple's top subscriptions executives is exiting the company.
Peter Stern, who had been helping establish Apple's presence in sports rights in addition to running Apple TV+, has informed colleagues that he is exiting Apple to spend more time on the East Coast, according to a source close to the executive. Stern, whose title is VP Services, is leaving at the end of the month.
Apple is reorganizing its Services unit, and Stern's responsibilities will be split into three separate divisions, according to two people familiar with internal conversations at Apple. The shape of the restructure is still being negotiated, but one of those executives will be Oliver Schusser, who is currently in charge of Apple Music; another is Robert Kondrk, whose current title is VP, Apple Product Services and Design.
Stern, who was widely tipped as a possible successor to Apple's SVP Services, Eddy Cue, was in charge of a broad swath of the company's subscription businesses and was largely responsible for building the business operations of Apple TV+. He is one of about 20 direct reports under Cue.
During his six-year tenure at Apple, Stern helped build subscription products such as Arcade, Books, and Apple One, News+, Fitness+, iCloud+. Before that, he was an exec Tim Warner Cable.”
We will talk about Apple’s Services reorganization shortly.
It’s not clear where the “widely tipped as a possible successor to Apple’s SVP Services, Eddy Cue…” comes from. Yes, Stern was a VP and Apple made him available to speak to outsiders/press. However, claiming Stern was some kind of de facto Cue successor feels off.
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Apple Unveils MLS Season Pass, Warner Bros. Discovery 3Q22 Earnings, David Zaslav’s Big Bet (Daily Update)
We kick things off by going over new details regarding Apple’s upcoming streaming service for Major League Soccer (MLS). Neil compares Apple’s subscription pricing to his estimates and what it suggests about Apple’s subscriber goals. The discussion then turns to Warner Bros. Discovery 3Q22 earnings and the bet Neil sees CEO David Zaslav making in the video content space.
Hello everyone. Happy Wednesday.
Today’s update will have a content streaming focus. We will begin with Apple providing details on its upcoming Major League Soccer (MLS) streaming service.
Let’s jump right in.
Apple Unveils MLS Season Pass
Back in June, Apple made waves by announcing a 10-year streaming rights deal with Major League Soccer (U.S.) Apple was attracted to the idea of having all matches available in one location. It’s a novel idea in an industry that is used to disjointed distribution and things like blackouts.
Earlier today, Apple provided via press release many of the missing details about the standalone streaming service which will be called MLS Season Pass.
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