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  • 07.06.16

Barry Diller on cord cutting: More than a threat, it’s “creative destruction”

Amid the rise of streaming content and some major film studio mergers, legendary entertainment mogul Barry Diller is predicting even more disruption for Hollywood in the near future. At the annual Sun Valley retreat where tech moguls like Tim Cook and Facebook COO Sheryl Sandberg mingle with movie producers, Diller predicted that there will be more mergers of major film studios in the near future: “There’s still some dances that could be held.” 

Through his company IAC, Diller has helped speed the revolution, investing in Vimeo and Aereo (the online TV service that went bankrupt in the face of legal challenges). Per Variety, he says that cord cutting will have a huge impact on Hollywood’s business model and how artists get visibility. “It’s more than a real threat,” said Diller. “It’s creative destruction.”

[Photo: David Paul Morris, Bloomberg via Getty Images]MB