Philo CEO Andrew McCollum is stepping away from the role after more than a decade, handing the keys to the wallet-friendly streaming service to Chief Operating Officer Mike Keyserling, The Desk has learned.
In a note on Wednesday, McCollum said it was “time to hand the reins to the person I trust most to take Philo forward into its next chapter” after more than a decade of serving the company.
“Mike Keyserling, our COO, has been my partner in building this company for more than a decade and has grown his responsibilities to include revenue, strategy, and leading major company initiatives,” McCollum said. “His appointment as CEO is a logical expansion of the leadership role he has already been playing at Philo.”
Keyserling’s succession is effective immediately, a source familiar with the plan confirmed. After stepping away as CEO, McCollum will become Executive Chairman of Philo, the source said.
Philo offers more than 80 premium cable networks over streaming, including channels from four investor-owners: Paramount, Warner Bros Discovery (WBD), AMC Networks and A+E Global Media. Two of those companies — Paramount and WBD — are in the process of merging. It was not clear from Wednesday’s announcement if McCollum’s departure was connected to that transaction.
The streaming service has long marketed itself as a cheaper alternative to cable by bundling and selling entertainment and lifestyle networks without more-expensive news and sports channels. In recent years, Philo has evolved its business strategy to incorporate more revenue from advertising sold against the premium cable networks it carries and nearly 100 free, ad-supported streaming TV (FAST) channels that are available without a subscription. Philo also offers access to content from network-owned streaming services like AMC Plus, HBO Max and Discovery Plus at no extra cost.
McCollum said the media and technology landscape is one where evolution happens quickly, and where executives who play in that space need to be focused on “navigating competition through strategic alliances and a purpose-built content model.”
“As COO, Mike has helped shape our direction in a rapidly changing market, negotiated landmark deals with some of the industry’s largest players, and built the foundation that has allowed us to scale with intention. He also creates the conditions where teams across the company can do their best work,” McCollum noted.
McCollum’s full announcement is below:
After more than eleven years leading Philo as CEO, I’ve decided it’s time to hand the reins to the person I trust most to take Philo forward into its next chapter. Mike Keyserling, our COO, has been my partner in building this company for more than a decade and has grown his responsibilities to include revenue, strategy, and leading major company initiatives. His appointment as CEO is a logical expansion of the leadership role he has already been playing at Philo.
Our mission at Philo is to reinvent what’s possible in streaming; to create a different kind of tech and entertainment company, one driven by innovation, authenticity, and an uncompromising focus on the customers we serve. For the past decade, that meant leading with a technology-first mindset: we’ve focused on building the highest-quality offering possible and continually reinvested in product expansion, development, and features like unlimited DVR.
The streaming and tech industries are evolving quickly, and the road ahead requires focus on navigating competition through strategic alliances and a purpose-built content model. As COO, Mike has helped shape our direction in a rapidly changing market, negotiated landmark deals with some of the industry’s largest players, and built the foundation that has allowed us to scale with intention. He also creates the conditions where teams across the company can do their best work.
Prior to Philo, Mike honed his project oversight and operations talents at HBO as senior vice president of media and production operations, and previously held a number of senior leadership positions as he quickly rose within the organization, including launching new lines of business and revenue streams.
As for me, I will transition into the role of Executive Chairman, continuing to support the company’s long-term strategy. I am grateful to all Philons and the loyal customers who have supported us in building this special service.
I’m excited about what Philo will accomplish next, and I am confident that the best is yet to come!
