The CW entertainment president, Brad Schwartz, has made a large shift to the network that hasn’t been too popular with fans. Under Schwartz, The CW has canceled most of its scripted shows and has decided to head in a new direction; religion and sports content. This drastic change was a decision made by the network’s new owner, Nexstar, as a plan to become more profitable by 2025. According to The Hollywood Reporter, “But what Schwartz has done, in a relatively short time, has been to position The CW in a place where the network can age up its audience, reduce overhead and secure the key rights needed to make it profitable for the first time ever.” The CW was not created as a network to make money. Its creation was a link between Warner Bros. and CBS Studios to produce revenue for both studios.
Shows such as Dynasty, The Flash, Riverdale, and Nancy Drew, previously on The CW, brought in profit in the millions, and created a dedicated 18-34 year-old adult audience. Via The Hollywood Reporter, “As the streaming wars intensified, The CW’s business model no longer made sense as CBS and Warners now needed to hold on to those same domestic streaming and international rights for Paramount+ and Max.” Nexstar purchased a 75 percent stake in The CW from CBS and Warners. This sale caused The CW’s CEO, Mark Pedowitz, to step down. Pedowitz was previously known for reading every television script for the network that crossed his desk.
Schwartz obtained The Chosen, which is a Jesus drama, and an inventory of sports such as LIV Golf and NASCAR to obtain a new and older audience who previously would not have watched The CW’s content. Schwartz joins this week’s episode of the podcast TV’s Top 5, where he will talk about new modifications being made to The CW.