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Brad Schwartz, the entertainment president of The CW, has faced criticism from fans of the network after canceling beloved scripted shows as part of a push to make the network profitable by 2025. However, Schwartz has achieved significant progress in a short time by positioning The CW to age up its audience, reduce overhead, and secure key rights. The CW was originally created as a joint venture between CBS Studios and Warner Bros. TV to generate revenue through international sales and streaming. Shows like The Flash, Riverdale, Nancy Drew, and Dynasty brought in profits and built a loyal audience. As the streaming wars intensified, the business model of The CW became unsustainable as CBS and Warner Bros. needed to retain domestic streaming and international rights for their platforms. Nexstar, the station group, purchased a controlling stake in The CW last year and brought in Schwartz to lead the network. Schwartz, who previously worked as a Pop TV executive and acquired the rights to Schitt’s Creek, aims to replicate his success with foreign originals like Sullivan’s Crossing and The Spencer Sisters. He plans to use broad-skewing content like the Jesus drama The Chosen and sports programming such as LIV Golf and NASCAR to attract new and older audiences. In a recent interview on the TV’s Top 5 podcast, Schwartz discussed the evolution of The CW and his plans for the network. He explained that Nexstar wanted The CW to act more like a broadcaster, attracting a broader linear audience while serving an unduplicated streaming audience. When Schwartz took on the job, his initial plan was to quickly acquire and air shows to fill the network’s schedule. The ongoing writers’ strike affected the original strategy, but it turned out that The CW will have more original scripted content than any other broadcaster. Schwartz clarified that although they have acquired content that has aired elsewhere, they also have original homegrown scripted content in development. Working with large studios presents challenges in terms of obtaining all the necessary rights at the required price points. The goal for The CW is to produce ambitious and profitable content and have full control so they can monetize it across multiple platforms. Schwartz acknowledged the benefits of the Netflix deal for The CW shows but emphasized the need to adapt to a changing landscape where content must be monetized in various ways. He highlighted the importance of finding content they love and ensuring profitability, even if it means exploring co-productions or non-traditional partnerships. In conclusion, Schwartz’s tenure at The CW has been focused on transforming the network’s business model to ensure profitability while providing a diverse range of content for its audience.
