On today’s episode of the “Daily Variety” podcast, CNBC president KC Sullivan discusses the channel’s evolution after the Versant Media spinoff. The preeminent financial news network is transforming from a linear cable-rooted business to multiplatform digital. “We’re very aggressive,” Sullivan told Variety during last week’s Cannes Lions Festival.
Sullivan, who has been with CNBC for 17 years and has been at the top since 2022, touched on the big issue on everyone’s lips at the festival: AI and the disruption to business that is impacting every sector. For CNBC, that’s both a big opportunity and a challenge.
“Disruption is everywhere, and from an editorial reporting perspective, I think that’s an opportunity. The amount of news is huge, whether it’s the intersection of Washington and Wall Street, the disruption of AI disrupting business or any industry. The amount of content is huge, but it’s also important to our business and our ability to differentiate our content,” Sullivan said. “There’s a lot of commoditized content out there. But for trusted brands delivering differentiated content, that’s something we think about every day, and it’s increasingly important. We’re focusing on that. Because in the past few years, there were only a few places where (CNBC’s) content was being consumed. Now consumption is much more fragmented. So we have to look at where and how the content is distributed.” ”
CNBC was part of the Versant Media spinoff from NBCUniversal that took effect earlier this year. The transition has energized the organization, Sullivan said.
“For us, it’s a whole different game. We’re very aggressive. We’re hiring. We look at partnerships differently. We look at M&A differently,” Sullivan says. “Our structure is very flat, so decisions are made quickly and with urgency, which is a really fun place to be in an industry where there’s so much disruption. Other media companies are tightening up every quarter. We’re really focused on what’s the next big win. We’re trying to think, “What are the transformational wins that we can do? We have the resources to do that.” Culturally, it’s been an infusion of excitement for the organization. ”
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