Entertainment Michael Eisner’s Tornante Invests In Struum; New Company Led By Former Discovery, Disney Execs Helps Consumers Find OTT Content

18:26  07 january  2021
18:26  07 january  2021 Source:   deadline.com

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The Tornante Company , LLC is an American privately held investment firm founded and owned by former Paramount Pictures and The Walt Disney Company CEO Michael Eisner in 2005. Tornante invests in , acquires, and operates media and entertainment companies .

Michael Eisner , former Disney CEO and founder of the Tornante company , joins CNBC' s "Closing Bell" to discuss the streaming industry and entertainment landscape.

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Former senior Disney and Discovery streaming and tech execs Thursday announced a new venture called Struum backed by a multi-million dollar investment from former Disney CEO Michael Eisner through his Tornante Company.

Founders of Struum, which aims to make it easier for people to discover new streaming programming, include Lauren DeVillier, former Head of Product for Discovery Ventures, Eugene Liew, former VP of Product and Technology at Disney+, Paul Pastor, former Executive VP of Strategy, Revenue and Operations at Discovery Networks and Thomas Wadsworth, former lead Advanced Product Development for Walt Disney Imagineering.

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Michael Dammann Eisner is an American businessman who was the chief executive officer of Walt Disney Productions/The Walt Disney Company from September 22, 1984 to September 30, 2005. Eisner was born in Mount Kisco, New York, and raised on Park Avenue in Manhattan.

Michael Eisner , the veteran Hollywood executive who served as president and CEO of Paramount Pictures from 1976-1984 and chairman and CEO of The Walt Disney Company from 1984-2005, let it rip on former colleagues and competitors — among them Barry Diller , Roy E. Disney , Steve Jobs

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It is expected to launch in early spring with a focus on maximizing opportunity of the mass niche and specialty premium SVOD market.

“Our mission is simple: to create the easiest way for people to find more of the content they love by providing value through a single subscription. As the OTT space continues to expand, there is an incredible amount of amazing video content options for TV and Movie streaming fans, but it can be overwhelming and expensive for the average viewer to delve into these options outside the biggest players in the market.  With our platform, we will help viewers uncover new content and platforms, but also provide all SVOD services with the opportunity to be more easily, and frequently discovered by fans,” said DeVillier, Struum CEO.

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During Eisner ’ s 21-year tenure with Disney , he helped . Amidst all his success, Eisner became involved with a lawsuit concerning the former Disney movie studio head Jeffrey Katzenberg and a multi-million dollar severance package given to Michael Ovitz, who briefly served as Disney president

Ex- Disney head Michael Eisner last appeared in the Billionaires ranks in 2007 (AP Photo/Peter Kramer, File) Michael Eisner ranks 11th on our inaugural Name: Michael Eisner Age: 73 Estimated Net Worth: billion Source: Walt Disney , investments Summary: Ex- Disney head Michael Eisner

Nancy Tellem, former President of CBS Entertainment and Xbox Entertainment, Ben Pyne, former President of Disney/ABC Television Distribution, and Donald Hicks, who heads operations at Twitter have joined as advisors.

Tornante is a notable backer of streaming shows, including Bojack HorseMan for Netflix.

While Netflix, Hulu, Amazon Prime, Apple TV, YouTube, HBO Max and Disney+ have a nearly 75% share of the streaming video distribution landscape according to Nielsen, the announcement noted, there are more than 250 mass niche and specialty SVOD services vying to grow their visibility and audiences. Struum has deals with nearly three dozen services with 20,000 TV series, movies and shorts. Specific SVOD partners and other details will be unveiled in the coming months.

Strum has partnered with Firstlight Media, also an investor in the business, to build up a streaming technology platform. It’s built on Microsoft Azure’s cloud-native microservice architecture.

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