Variety: Warner Bros. Discovery Seeks Ad-Sales Chief for CNN

Story from Variety:

Under CEO Mark Thompson, CNN has been on the hunt for new sources of digital revenue. Now it’s searching for a new sales executive to bring advertisers into the mix as well.

Warner Bros. Discovery, CNN’s parent, revealed Tuesday that it was seeking a new sales lead for the news outlet, an executive who “will work closely with Mark Thompson and CNN’s leadership team as they develop new digital platforms and products alongside their live channels and original programming,” according to a memo from the company’s two new presidents of U.S. ad sales, Ryan Gould and Bobby Voltaggio.

CNN faces a host of challenges as media companies grapple with the migration of their audiences from traditional TV to streaming video. And yet, Warner depends on the cash CNN’s flagship linear network throws off to fund its business, even if there will be less of it in months to come. CNN has been projected to lose both subscribers and ad revenue over the next year, according to estimates from Kagan, a market-research unit of S&P Global Market Intelligence. CNN’s ad revenue is expected to fall to nearly $499.2 million, according to Kagan, compared with $563.9 million in 2024. News networks typically enjoy an economic boost in an election year, but the estimates for CNN would also fall from 2023’s $518.1 million, accordign to Kagan.

CNN has for months discussed a significant digital pivot, a turn toward getting consumers to subscribe to new products that rise from broadband-based video or are tied to popular niche interests. And while the network has made several hires in recent months to oversee such efforts, it has yet to unveil any significant new projects.

Warner unveiled a host of changes to its ad-sales efforts, tapping veterans Marybeth Strobel., Rob McCall, Jon Diament, and Sheereen Russell for senior leadership roles. Strobel will oversee sales involving all New York based media agencies, while McCall will lead national sales, supervising a key relationship with the Chicago operations of the influential media-buying firm Publicis Media. Diament will continue to oversee ad sales tied to sports, while Sheereen will continue to lead direct client and brand relationships while overseeing new partnerships with entertainment and creative agencies.

Others were assigned to lead sales tied to specific media platforms. Allie Carr will oversee linear and digital revenue strategy. Evan Giamanco will expand hi s work to take lead on Warner’s portfolio of streaming products. David Porter will continue to lead data, insights, and research. Jill Steinhauser will ad tech and operations across the U.S.

Warner Bros. Discovery revealed that Greg Regis, a longtime sales veteran who has been with the company since joining Scripps Networks in 2002, would leave the company. Regis was seen as a key lieutenant to Jon Steinaluf, Warner’s former ad-sales chief who left in recent months.

The new ad-sales executives said they also planned to hires someone who will “develop and execute sales strategies that capitalize on evolving marketplace trends, leverage data-driven solutions, and build high-impact partnerships to maximize revenue. People who sell ads that are tied to so-called “advanced” audiences, direct response sales and programmatic sales will report to this new hire.