Entertainment

Decoding the cross-platform strategy of STX Entertainment

Photograph by Terence Patrick STX Entertainment executives, Oren Aviv, Robert Simonds, Adam Fogelson, Sophie Watts

Robert Simonds co-founded STX Entertainment with Bill McGlashan in 2014. The company was at first funded by TPG Growth, of which McGlashan is founder and managing partner. Before STX, Robert (Bob) Simonds was an independent Hollywood producer for a long time. He produced over 30 movies in a career span of more than 20 years, earning a total of $6 billion USD in the global box office. STX Entertainment is now a worldwide company with strong presence in China. Its supporters include Chinese firm Hony Capital, Liberty Global, Hong Kong based PCCW and many more.

Though Bob Simonds’ STX Entertainment originally produced and distributed films, it didn’t take long for it enter the television and digital entertainment markets as well. Now, the films production and marketing unit of STX is STXfilms. It has produced many super hits like Bad Moms, The Circle, and The Space Between Us. STXfilms is now working on a project, “Adrift”, starring Shailene Woodley.

STXtelevision started off in 2014 with the drama-thriller series State of Affairs, which was developed by STX Entertainment and sold to NBC. In the next year, STXtelevision produced an NBC pilot, Problem Child, based on the movies with the same name, produced by Robert Simonds. STXtelevision has produced many TV shows with top channels and broadcasters. In 2016, it produced Number One Surprise. The show is the first television series created by any US based entertainment company to broadcast in China specifically.

In 2016, STX Entertainment acquired VR creator Surreal, naming it STXsurreal, its division for VR creating and distributing. In 2017, STXsurreal produced a 360 video of the 68th Emmy Awards, and later won a Shorty Award for the Best Use of 360 Video for it. STXsurreal announced a list of original VR series including The Limit, starring Michelle Rodriguez; and an unnamed action comedy project with Dave Bautista.

STXdigital, the company’s digital programming, distribution and live events division acquired the Chinese distribution rights of Dick Clark’s New Year’s Rockin’ Eve and the 2018 Golden Globe Awards from Dick Clark Productions (dcp). Robert Simonds’ interest in Chinese television and film industry is due to his vision of bridging the gap between the entertainment industries of China and the US.

In 2016, STX Entertainment launched its international arm, STXinternational, in London. This division aims to facilitate global expansion of the company. STXinternational launched six initial films, including Elizabeth Olsen and Jeremy Renner starrer Wind River.

STX Entertainment has a net worth of about $3.5 billion in just 4 years. With a team of experts of the TV and film industries, Bob Simonds, STX Entertainment Chairman and CEO has globalized the company and is changing the face of entertainment as we know it.