Robert Friedman has been in the media space for decades, helping lead established companies like New Line and MTV, back when movies and television were the only game in town. The media landscape has fractured since then, with the rise of streaming services scrambling the old ways of doing business. And Friedman (everybody calls him “Bobby”), has adapted with it.

In 2013, Friedman left Radical Media, the company behind “Under African Skies” and the “Mad Men” pilot that was a pioneer in the branded content space, and decided to strike out on his own. “The velocity of change was incredible, and I felt like there must be a better way of doing things,” he said during a recent interview at his Manhattan office.

That led him to launch Bungalow Media + Entertainment, a leaner, nimbler production shingle that makes scripted and unscripted content for this new array of buyers. Bungalow recently...