In my humble opinion, Tony Vinciquerra is truly a Hollywood titan. His seven-plus years at Sony Pictures Entertainment have been nothing short of extraordinary, a testament to his remarkable resilience and adaptability. He’s like a phoenix, rising from the ashes of challenges, transforming organizations with an uncanny ease that only comes from decades of honing his skills.
Following nearly eight years at the leadership position, Tony Vinciquerra is set to step down as CEO of Sony Pictures Entertainment on January 2, leaving behind a substantial mark in the studio’s 100-year history. The evaluation of his tenure may not only focus on the actions he took during his time in charge, but also on the strategic choices he chose not to make. His legacy will be shaped significantly by the steps he took to transform and reinvent the company for its future as it enters its second century.
The experienced studio leader, instrumental in effecting a crucial turnaround, has been chosen as this year’s honoree for the EbMaster Vanguard Award. This prestigious honor is bestowed upon individuals who have left a substantial mark on the international television business. Vinciquerra will receive this recognition at the Mipcom global content market and conference in Cannes on October 21st.
By rejuvenating one of Tinsel Town’s pioneering studios, Vinciquerra revitalized the vitality of a significant player within the entertainment industry. Navigating through challenging market currents, the emergence of streaming services, the COVID-19 crisis, and the 2023 writers’ and actors’ strikes, Sony Group Corp.’s chairman-CEO, Kenichiro Yoshida, praised the studio head for his “extensive knowledge and proficiency in the entertainment sector, his insightful strategy, and his exceptional leadership.
Vinciquerra is set to pass the leadership role of CEO to his chosen replacement, Ravi Ahuja, who is presently serving as the president and COO at SPE. From now until December 2025, Vinciquerra will continue with SPE in a non-executive chairman capacity.
Vinciquerra praises Ahuja’s promotion, noting that he has the essential expertise needed to manage the company, and he is remarkably composed, intelligent, and rational.
As a movie enthusiast, I’ve always been keen on the strategic moves of companies like Sony Pictures Entertainment (SPE). Under the leadership of Tom Vinciquerra, we didn’t jump headfirst into the construction of direct-to-consumer streaming platforms like some of our larger rivals in the studio sector. Instead, we took a moment to assess and position ourselves strategically amidst this significant shift in the pay TV landscape.
Initially, we chose not to enter the realm of general entertainment streaming services. Many other companies had already plunged in headfirst, lacking a clear strategy beyond their need for subscribers. Instead of following suit, we opted to function as a supplier, investing heavily in our stable of TV creators, and this approach proved highly successful for us. Vinciquerra made this statement to EbMaster.
Instead, SPE opted to leverage Sony Corp’s prowess in anime production via its Japan-based Aniplex brand, creating a subscription streaming service that caters to the passionate fanbase of this popular animation style. Today, Crunchyroll, owned by SPE, boasts over 15 million subscribers and generates profit.
As a movie enthusiast, I couldn’t help but notice the surge of anime fans and their growing demand for quality content. Unlike typical TV shows that cost millions per episode, our anime productions only required around $200,000 to $400,000 per episode. Seizing this opportunity, we dived headfirst into the world of anime streaming with Crunchyroll, and it’s paid off handsomely. We’re now in a comfortable position, and we’re continuously on the lookout for that unique, genre-focused streaming service to expand our offerings even further.
Vinciquerra’s restructuring initiative aimed to streamline SPE’s internal production labels, numbering over 20, which were geographically dispersed across Europe, Latin America, and Asia in a manner that was financially unfeasible for the studio.
Vinciquerra explains that they chose to concentrate their efforts in areas where they believed they had a strong chance of success. Notably, the United Kingdom stands out, as SPE has been strategically acquiring successful production companies there. These include Jane Tranter’s Bad Wolf (known for “His Dark Materials”), Eleven (“Sex Education”), and Eleventh Hour Films (“Alex Riter”).
During Vinciquerra’s initial 18 months at the studio, there were numerous reorganizations, job cuts, and leadership transitions. He also closed or sold numerous international cable channels that were financial burdens. His determination stemmed from his extensive background, which includes a decade spent leading Fox Networks Group and six years as a media consultant for the private equity firm TPG.
Vinciquerra reminisces, “I had been a member of Pandora’s, DirecTV’s, and Qualcomm’s boards, among others. This gave me an external perspective on our industry. Upon joining this company, however, I found it in a struggling state.
He frequently harbored intense convictions regarding necessary changes, yet there were times when he doubted himself, especially in the dynamic, fast-paced period preceding the sudden onset of the pandemic.
He pondered, ‘Was I wrong to avoid entering the streaming service industry?’ Many people had criticized me for not jumping on board and giving up my cable networks, calling it foolishness. Looking back, this was a topic of much debate among those around him.
Vinciquerra consistently relied on his intuition to optimize SPE operations. Throughout his career, he has often found himself addressing underperforming assets, a task that dates back to his initial role in radio sales in Albany, New York. A defining moment in his career came when he was appointed general manager of Westinghouse Broadcasting’s WBZ-TV Boston. This was during a period when the parent company implemented significant cost cuts, reducing the workforce from 350 to 200 employees.
He explains that having an adequate number of team members is crucial for identifying issues, finding solutions, and determining the necessary steps to reach your desired destination. Once you’ve gathered enough individuals who are invested in the idea, those who oppose it tend to fade into insignificance.
In the ’90s, Vinciquerra continued his career in broadcasting, taking on senior roles at CBS Television Stations and Hearst, a company that was actively acquiring stations. He attributes his entry into the upper echelons of show business to Peter Chernin, a well-respected media investor who previously led 20th Century Fox and News Corp., a company owned by Rupert Murdoch. Impressed by Vinciquerra’s skills, Chernin encouraged him to manage not only the Fox broadcast network but also its cable channels.
Reflecting back, that objective proved immensely beneficial, particularly since Vinciquerra initially attempted to dissuade Chernin from offering him the position. Now, years down the line, he expresses gratitude for Chernin’s persistence in ignoring his initial reservations.
Vinciquerra remembers thinking that it was illogical for him to be hired to manage the Fox broadcast network, given his lack of network management experience. However, he clarifies that while he didn’t have network experience, he had extensive background in running TV stations, which is a completely different line of work.
In his tenure at Sony, Vinciquerra highlights two significant hurdles he managed to surmount. Upon joining in 2017, he expressed concern to the upper management that the studio was overlooking potential synergies by not aligning more closely with Sony Corp.’s PlayStation gaming division and Sony Music’s content franchises. Fortunately, the Japanese leadership was receptive. However, from his time at Fox, Vinciquerra understood that such collaborations required a bottom-up approach rather than top-down decrees.
He points out that merely instructing, “Do this,” won’t yield results. Instead, it’s essential to encourage collaboration among the creative teams so they can generate ideas and stimulate each other’s creativity.
Sony gathered approximately forty significant creative leaders from their gaming and film divisions, placed them in a spacious meeting room, and provided them with a large whiteboard. The directive from Tokyo was for both teams to collaborate without concerning themselves excessively about who would cover the costs, as Vinciquerra remembers.
Over the course of two days, they brainstormed and developed around twelve to fourteen potential collaborative projects. So far, we’ve tackled seven or eight of these projects, he shares. Among them is the highly-acclaimed adaptation of “The Last of Us” for HBO, which is set to return for its second season after a production delay, as well as “Uncharted” and “Gran Turismo,” both slated for release in 2022, and “Twisted Metal,” scheduled for 2023.
Musically speaking, Bruce Springsteen is collaborating with Sony’s TV department on an unscripted project. Meanwhile, top-selling reggaeton artist Bad Bunny made a minor appearance in the 2022 movie “Bullet Train,” starring Brad Pitt. He is also set to appear in another Sony film in the future.
During his term, one significant achievement was the comprehensive renovation and facelift of SPE’s vast property in Culver City, formerly known as Metro-Goldwyn-Mayer’s sacred ground. For years, some of their soundstages had been neglected, with rotting wooden floorboards between walls posing a fire risk and other structural issues. Add to that the aged infrastructure inside, a powerful earthquake could have easily toppled one or more of these buildings.
Initially, Vinciquerra’s team developed a five-year strategy to enhance and modernize the infrastructure. However, COVID-19 intervened. With the site vacant of employees and production for many months, most of the major construction projects were accomplished within 18 months.
I found myself needing to rework almost every wall and each phase throughout the pandemic,” I acknowledge. “To this day, there’s still a bit more work left undone.
The Culver City lot is such a storied part of Hollywood history that one of its structures — known as the Scenic Arts Building — has been designated a historic landmark that cannot be radically altered. The only problem — the structure itself was about to collapse from age and decay.
As a movie critic, I found it intriguing when SPE decided to construct a multi-story edifice adjacent to Scenic Arts, providing additional support to the 1920s architectural marvel. The genius of Scenic Arts lies in its ingenious pulley system, enabling directors to film captivating scenes against expansive painted backdrops that ranged from bustling New York City streets.
In a nod to its rich past, I’ve taken great care to maintain the historic essence of Scenic Arts. Yet, I’ve also given it a fresh new look, transforming it into versatile meeting spaces that are now open for rental by external groups.
Simultaneously, a specially designed structure was constructed to serve as a waiting area for spectators attending tapings of “Jeopardy” and “Wheel of Fortune,” two esteemed game shows produced by SPE. Notably positioned close to the sets of both shows, it also boasts a gift shop for souvenirs.
Through determination and resourcefulness, Vinciquerra has navigated his professional journey. His time at Sony, spanning over seven years, has proven challenging yet exhilarating, pushing him to draw upon every skill he’s honed throughout his career and beyond.
Vinciquerra expresses that he’s consistently found joy in tackling the mental puzzle of devising strategies to address issues, and every role he’s held has been marked by significant changes. Now, restructuring organizations comes naturally to him.
In every scenario, there are unique hurdles to overcome, yet Vinciquerra tends to rely on some basic principles he’s found particularly helpful.
He advises to avoid personal pride and instead focus on hiring talented individuals, giving them credit for their achievements. His joy comes from witnessing the success of his colleagues. There are many in the industry he’s worked with who have thrived, and he feels a great sense of pride and happiness about it.
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2024-10-20 17:48