IN HIS TWO DECADES OVERSEEING the basic-cable network FX, John Landgraf has earned a reputation for producing original shows that stand out from the usual fare, starting with the post-9/11 firefighter drama Rescue Me. Last year, he outdid even his own record by proving—through some risky bets—that there’s a place for thoughtful TV that holds your attention even in a dumbed-down streaming era when viewers half-watch shows on their phones. The surprise hit Shōgun, adapted from James Clavell’s 1975 door-stopper of a novel, became FX’s most-watched new show ever, racking up 23.9 million views worldwide on Disney+ and Hulu. The series reportedly cost an eye-popping $250 million for its first, 10-episode season, and connected with American viewers despite being set in 17th-century Japan and almost entirely subtitled.

Thanks to Shōgun, along with the artistically ambitious third season of The Bear, FX won more Emmy Awards last year than any other network. (It was the first time in 15 years that HBO or Netflix didn’t win the most Emmys.) In the process, Landgraf is establishing FX as a content developer as vital as parent company Disney’s other branches, such as Marvel, Pixar, and ESPN. Recent draws include the comedy series English Teacher, the vampire satire What We Do in the Shadows (which just concluded its final season), and the limited series Say Nothing, set during the Troubles in late-20th-century Ireland. Next up: a prequel series to the sci-fi horror franchise Alien.

Landgraf coined the term “Peak TV” a decade ago to describe the glut of original scripted shows that networks (and, later, streamers) were pumping out for increasingly overwhelmed viewers. Here, the FX chairman diagnoses the current state of TV, and how his network is zagging where others continue to zig.