The Ownership of OWN Network: Delving into the Authority Behind the Name
In January 2011, The Oprah Winfrey Network (OWN) was launched as a joint venture between Discovery Inc. and Harpo Studios. Oprah Winfrey, the owner of Harpo Studios, took over as CEO of OWN in July 2012 with the mission to revitalise the network.
Under Oprah's leadership, OWN focused on its core essence - personal growth, spirituality, and uplifting entertainment. However, the ownership shift led to changes in content direction, with a focus on the African American women demographic and an expansion into unscripted reality and docu-series.
In 2017, Oprah sold part of her stake in OWN to Discovery for $70 million, giving them a 70% majority share of the network. Discovery Inc. initially owned a minority stake in OWN but acquired an additional stake in 2017 to become the majority owner.
Despite not being the primary owner anymore, Oprah continues to be at the helm of key decisions for OWN. The acquisition allowed OWN to invest in new shows and top-tier talent, leading to an uptick in viewership numbers from 1 Million in 2016 to 1.5 Million in 2020.
Under Discovery's leadership, OWN boasts top-tier shows like Queen Sugar, Greenleaf, and The Haves and Have Nots. The transition saw an increase in audience engagement, with prime-time viewership rising by 20% from 2017-2020.
The shift in ownership has led to a diversification of the network's content, with a surge in female-led narratives and a move beyond the traditional talk-show format. In 2020, OWN added shows like Fear Not with Iyanla Vanzant, reflecting Discovery's intent to diversify while staying true to OWN's legacy.
Today, OWN's audience primarily targets African-American women aged between 25 and 54. Oprah Winfrey currently owns a 25% stake in the Oprah Winfrey Network (OWN). Despite selling part of her stake, she remains CEO and Chief Creative Officer of OWN, demonstrating her continued commitment to the network's success.
The acquisition by Discovery was a strategic move aimed at increasing overall profitability. The ownership shift has been instrumental in shaping OWN into a network that delivers compelling, diverse, and uplifting content to its audience.
Read also:
- Nightly sweat episodes linked to GERD: Crucial insights explained
- Antitussives: List of Examples, Functions, Adverse Reactions, and Additional Details
- Asthma Diagnosis: Exploring FeNO Tests and Related Treatments
- Unfortunate Financial Disarray for a Family from California After an Expensive Emergency Room Visit with Their Burned Infant
