Schreiber will report to Studio71 CEO Reza Izad, focusing on developing and producing content for both internet and traditional media platforms. Schreiber spent the past 12 years at Tapestry, rising through the ranks to become president, and during his tenure there identified, developed, and shepherded several produced feature films including “Wedding Crashers,” “Employee of the Month,” “The Comebacks,” “Old Dogs” and “National Lampoon’s Van Wilder” franchise. He started the TV arm of the company, Tapestry Television, and has developed shows for both cable and broadcast networks.
“Michael understands our audience and has an outstanding industry track record,” said Dan Weinstein, president of Studio71, in a statement. “He will help us expand our ability to serve the growing demand from digital platforms as well as more traditional media outlets by affording opportunities for our top tier creators.”
One of Schreiber’s first projects at Studio71 will be overseeing “Lifeline,” an action-thriller series from Dwayne “The Rock” Johnson and Dany Garcia’s Seven Bucks Productions, which is slated to debut on the YouTube Red subscription tier later this year.
Prior to Tapestry Films, Schreiber worked at Miramax/Dimension Films. He got his start in the business assisting documentary filmmakers Liz Garbus and Rory Kennedy.
Studio71 is majority-owned by German broadcaster ProSiebenSat.1. In January, French TV network TF1 Group and Italy’s Mediaset invested a combined $56 million in Studio71, giving the company a valuation of around $425 million.
The L.A.-based multichannel network says it generates some 6 billion monthly views on YouTube through its 1,200 affiliated channels, and also has distribution deals with Facebook, Comcast’s Watchable, Verizon’s Go90, Liberty Global and others. Studio71’s talent network includes Lilly Singh (a.k.a IISuperwomanII), Rhett & Link, Shay Mitchell, Matthew Santoro, Flula Borg, Epic Meal Time, Roman Atwood, Family Fun Pack and Dwayne Johnson.