2023 Hollywood Business (Box Office, Streaming Services, etc...)

[RIPPA]

Eventually I will figure out the best way to label this so that the business type stuff ends up in this thread. Oh well.

Anyway...

Quote

Regal-owner Cineworld, the world’s second largest movie theater operator, has denied reports that it has been in talks with AMC, the world’s largest movie theater group, regarding the sale of its assets. Cineworld added that it intends to sell the group in its entirety, rather than break it up.

As well as denying it was in discussions with AMC itself, Cineworld said that it “understands” that neither its lenders nor their advisers were party to discussions with AMC either.

AMC last month said it was no longer in discussions to buy some theaters owned by Cineworld following initial talks with some lenders.

After Cineworld sought bankruptcy protection by entering Chapter 11 on Sept. 7, it has been in talks with “key stakeholders” to develop a reorganization plan that seeks to “maximise value for the benefit of moviegoers and all other stakeholders,” it said. Those discussions remain ongoing.

https://variety.com/2023/film/global/regal-cineworld-amc-1235477588/?cx_testId=48&cx_testVariant=cx_1&cx_artPos=2#cxrecs_s

[TheVileOne]

Something I would like to know, are streaming services actually making money? All throughout last year, all I saw were how many billions Netflix, Peacock, and HBO Max were losing. 

[Matt D]

I think we're going to look back at the last three or four years as a golden age, one that's over. Internally, the turning point is not necessarily the HBO Max stuff (though the idea of taking things off the service as a tax dodge, or never even releasing things, is a furthering of the decay, and one that other services will almost certainly start copying at some point in order to save money if it was proven to be successful on an accounting level). The cancellation of Bone, which is a pretty successful property through scholastic and had a lot of positivity from Jeff Smith and the wiping of a fairly exciting family slate from Netflix on the hopes that they could get more things like Boss Baby instead was up there.

We've been watching Foundation on Apple TV+ and the fact that it even is possible for a show like that, something long considered unfilmable and fairly deep into the Sci Fi canon from a marketability level, to exist, is a sign of just how big the mirage was and how thoroughly we benefited from it. There'll be lingering stuff, projects in development, surefire successes, certain services holding on, but in general, I do think the best times are over and the good times are going to start fading.

[Curt McGirt]

Our AMC in town is momentarily (or so they say) closed. The place looked like a squatter's den last time I was there, albeit one with a giant digital Coke machine. 

[JonnyLaw]

6 hours ago, Matt D said:

I think we're going to look back at the last three or four years as a golden age, one that's over. Internally, the turning point is not necessarily the HBO Max stuff (though the idea of taking things off the service as a tax dodge, or never even releasing things, is a furthering of the decay, and one that other services will almost certainly start copying at some point in order to save money if it was proven to be successful on an accounting level). The cancellation of Bone, which is a pretty successful property through scholastic and had a lot of positivity from Jeff Smith and the wiping of a fairly exciting family slate from Netflix on the hopes that they could get more things like Boss Baby instead was up there.

We've been watching Foundation on Apple TV+ and the fact that it even is possible for a show like that, something long considered unfilmable and fairly deep into the Sci Fi canon from a marketability level, to exist, is a sign of just how big the mirage was and how thoroughly we benefited from it. There'll be lingering stuff, projects in development, surefire successes, certain services holding on, but in general, I do think the best times are over and the good times are going to start fading.

WWE was ahead of the game on both its streaming service and dumping its streaming services in recognition that there is more income/fewer expenses in providing your content to other streamers instead of paying to develop content for your own streamer.  I’m worried about Disney+ deciding to cut back under Iger.

[odessasteps]

This is why we proponents of physical media keep the faith. 

[BrianS81177]

On 1/3/2023 at 2:03 PM, odessasteps said:

This is why we proponents of physical media keep the faith. 

We had a huge wind storm last month that knocked out power for a couple days. Power was restored but internet wasn't for 4 more days because Wave sucks. Anyway, my nephews were all texting me complaining about how they couldn't watch anything because they just stream everything. I replied to them with 2 photos. One of my extensive collection of Blu-Rays (which they kept teasing me for buying telling me to "get with the times") and one of my middle finger.

I love my nephews and they love me. They got the joke.

Edited January 6, 2023 by BrianS81177

[RIPPA]

I am putting this here because the reasoning is much more appropriate of this thread then clogging up the TV thread

AMC has cancelled 61st Street. The entire 2nd season - which has already been shot - will not be shown in what is described as a "cost cutting" measure

They also are no longer going forward with Invitation to a Bonfire despite already filming 4 of the 6 episodes

Quote

AMC is no longer moving forward with “61st Street” Season 2 or its series adaptation of “Invitation to a Bonfire,” Variety has learned exclusively.

The second season of legal drama “61st Street” had already been shot, but AMC no longer plans to air it. In addition, four of the six episodes of “Invitation to a Bonfire” had been shot before AMC decided to pull the plug.

The decisions were made as part of cost cutting measures announced by AMC in December 2022, in which the company stated it would take write-downs for up to $475 million. That figure included $400 million for “strategic programming assessments” and $75 million for “organizational restructuring costs,” per an SEC filing. Just prior to that announcement, AMC Networks CEO Christina Spade abruptly departed the company after less than three months in the role. James L. Dolan was then named interim executive chairman by the board of directors shortly thereafter. Dolan is slated to remain in his new role until March 6, 2023 or until the board finds a new CEO, whichever comes first.

Dolan previously warned AMC staffers about significant cutbacks at the company in a memo following Spade’s exit. “We are primarily a content company and the mechanisms for the monetization of content are in disarray,” he wrote at the time. Dolan also spoke of “a large-scale layoff as well as cuts to every operating area of AMC Networks” that would be implemented. To that end, AMC’s unscripted chief Marco Bresaz became the latest high-profile executive to depart, while AMC also reversed its decision to renew the drama series “Moonhaven” for a second season.

https://variety.com/2023/tv/news/amc-61st-street-season-2-invitation-to-a-bonfire-series-1235480147/

[Dolfan in NYC]

The gays have spoken...

 

 

 

[EVA]

No one tell Billy Eichner!

[odessasteps]

1 hour ago, Dolfan in NYC said:

The gays have spoken...

 

 

 

Waiting for the @J.T. review

[DEAN]

35 minutes ago, odessasteps said:

Waiting for the @J.T. review

I saw it last night with many of my children.  It is really fun.

[Travis Sheldon]

3 minutes ago, DEAN said:

I saw it last night with many of my children.  It is really fun.

Thanks for that glowing review, Nick Cannon.

[DEAN]

3 minutes ago, Travis Sheldon said:

Thanks for that glowing review, Nick Cannon.

MY POTENCY IS UNDENIABLE!

[odessasteps]

14 minutes ago, DEAN said:

I saw it last night with many of my children.  It is really fun.

Movie Review Comix! 

[elizium]

If you think about it, all of us here are Children of @DEAN

[RIPPA]

WB Discovery is raising the price of HBO Max

Price is going up $1 to $15.99 a month

Oh and that goes in effect today (current subscribers will see it on their Feb bill)

[jaedmc]

Looks like after a long period of experimentation, Hollywood has realized that streaming is just a debt hole with no profits in sight.  https://www.hollywoodreporter.com/business/business-news/wall-street-streaming-guidance-2023-1235302958/

Quote

But the streaming narrative is likely to continue to change across the entertainment sector this year, a growing number of financial experts expect. “The greatest story America’s story-telling industry ever produced is not The Godfather, Star Wars or even Minions: Rise of Gru,” the MoffettNathanson team of analysts wrote in their Wednesday report entitled “Hurtling Towards Act 3.” “It is, of course, the story of the industry itself over these past 15 years. And, like almost any story produced in the Western tradition, this one follows a basic three-act structure.”

In Act 1, “Media companies printed money,” only to see things change due to Netflix’s innovations, the analysts wrote. “An upstart company took advantage of rising broadband speeds to deliver a seemingly magical experience: watch what you want, wherever, whenever, for far less. … Act 1 ends with the company that promised its customers the world well on its way towards taking over the world, and with the established order scrambling to muster a response far too late.”

Act 2 was about Hollywood companies pushing into streaming amid cord-cutting, or “attempt to replicate the playbook that had worked so well for the upstart,” as the MoffettNathanson team put it. “But even though the subscribers showed up en masse, profits remained elusive.”

Which takes us to the present day. “Now, we find ourselves at the precipice of Act 3,” the analysts argued. “Cash flows are sorry ghosts of their former selves. Balance sheets are loaded with debt in a higher interest rate environment. Rather than being the new sliced bread, investors and executives have accepted that streaming is, in fact, not a good business — at least not compared to what came before.”

So what happens next? “In Act 3, we find ourselves hurtling towards a climax where once-great companies will have to face the reality that they can no longer afford to light money on fire chasing profits that do not exist,” the MoffettNathanson team concluded. “For some, this simply means a new age of rationalization. For others, acquisition may prove the only salvation. For all, the present state of affairs cannot continue.”

[RIPPA]

Penske Media Eldridge has acquired Dick Clark Productions

Quote

Penske Media Eldridge has acquired Dick Clark Productions in a deal that marks a major expansion for the parent company of Variety, Rolling Stone, Billboard and other top media brands.

Financial details of the deal with Todd Boehly’s Eldridge Industries were not disclosed.

Penske Media Eldridge is a newly formed unit of Penske Media Corp. (PMC) that was created as part of the DCP transaction. The deal expands the ties between PMC and Eldridge, which began in the fall of 2020 when PMC acquired Billboard, The Hollywood Reporter, Vibe and other assets from Eldridge. The Penske Media Eldridge unit also houses a growing portfolio of live events including the annual SXSW and ATX festivals in Austin, Texas; music festival Life is Beautiful and the LA3C music and culture festival that had its inaugural outing in Los Angeles in December.

Dick Clark Prods. has most recently been owned by Eldridge Industries. DCP has been through a revolving door of owners and managers over the past decade.

Longtime NBCUniversal executive Adam Stotsky was named president of the unit in 2021; Stotsky will exit that post as part of the sale process.

DCP was briefly known as MRC Live and Alternative before it reverted to the Dick Clark Productions moniker last year. The company’s bread and butter is awards events such as the Golden Globes and American Music Awards, Billboard Music Awards and the long-running Fox series “So You Think You Can Dance.” Other major franchises include Academy of Country Music Awards and the internet-focused Streamy Awards.

The company was nearly sold for $1 billion to Dalian Wanda Group in a deal struck in 2016 but nixed by the Chinese government in 2017.

https://variety.com/2023/awards/news/dick-clark-productions-pmc-acquires-1235467820/

[RIPPA]

Paramount+ and Showtime's are merging

The new service will be called Paramount+ with Showtime (that's both for cable and streaming)

Due to the merger - 3 shows have already been cancelled (Three Women, Let the Right One In, American Gigolo)

Three Women hadn't even aired yet while Let the Right One In and American Gigolo will be removed from the streaming service (apparently all three are allowed to pitch themselves to other networks/streaming services)

[Casey]

Amazon supposedly has acquired the rights to Tomb Raider for $600 million.

Embracer bought the rights from Square Enix last year (year before?), along with two studios and a shitload of other IPs, for only $200m or something like that.

This comes on the heels of the news that Amazon is making a show, with Phoebe Waller-Bridge writing. Also publishing the new Tomb Raider game(s) and supposedly making a movie as well. To put another rumor into this rumor: the plan is a TR universe where the games, TV show and movies are connected.

Edited January 31, 2023 by Casey

[Craig H]

On the one hand, it would have been nice for for hollywood to realize sooner that streaming was best left to a few entities. On the other hand, I still buy just about every MCU movie that comes out and I buy most "big" movies that are actually good.

What I hope we don't lose are some of the great TV series that have come along on streaming platforms over the years. For example, every Star Wars series on Disney+ has basically brought Star Wars back from the dead again. And even though Discovery and Picard suck, Strange New Worlds is excellent (a .333 batting average is pretty good!) so I'm glad those are on Paramount+ because they basically brought Star Trek back from the dead. 

As for everything else, I don't think there's been a single HBO Max only series that I've given a shit about. Basically, anything that I've really liked on HBO Max airs on HBO anyway and we've always watched those as VOD. And for Showtime, I think I really only care about Billions and that's on maybe a couple months a year.

Every other series that feels like is worth my time is on Netflix, Hulu, and Prime, although the sucky thing about Netflix is how quick they are to cancel a series. But anyway, that's the one thing I do like about streaming. It's not the movies, it's the tv shows. Having to wait and buy seasons of TV shows on DVD or BD was expensive AF.

[Mister TV]

43 minutes ago, Craig H said:

On the one hand, it would have been nice for for hollywood to realize sooner that streaming was best left to a few entities.

Yeah, they should have treated Netflix and whatever other streamers popped up like they do movie theaters and tv stations back in the day, cut deals to show big movies once they're gone from theaters and the same for older content people want to watch again. 

It is nice that the big media companies are moving some of their content around, HBOMax has some Paramount stuff like the old Star Trek's and Paramount+ has a bunch of MGM stuff up.

[RIPPA]

Quote

UPDATED: Roku and Fox Corp.’s Tubi are set to bring a big bucket of free, ad-supported content from Warner Bros. Discovery to their streaming platforms.

Roku and Tubi are the first two partners for WBD’s new free, ad-supported streaming television (FAST) channels. The deals come after Warner Bros. Discovery in December announced that it was removing several shows from HBO Max — including “Westworld,” “The Nevers,” “Raised by Wolves,” “FBoy Island,” “Legendary,” “Finding Magic Mike,” “Head of the Class” and “The Time Traveler’s Wife” — to license them to third-party FAST partners.

-------------

On the Roku Channel, WBD’s FAST channels are set to launch in the spring of 2023, featuring titles from across the media company’s portfolio, including “Westworld,” “The Bachelor,” “Cake Boss,” “Say Yes to the Dress” and “F-Boy Island.” In addition, the Roku Channel will add about 2,000 hours of on-demand content featuring hundreds of Warner Bros. Discovery’s TV series and movies. That content will come from WBD’s HBO, HBO Max, Discovery Channel, HGTV, Food Network, TLC, Warner Bros. Pictures, Warner Bros. Television and more.

Similarly, Tubi announced a content deal with Warner Bros. Discovery that will bring 14 WB-branded FAST channels and more than 225 ad-supported VOD titles — totaling over 2,000 hours — to the platform.

On Tubi, content will begin rolling out as early as Wednesday (Feb. 1), continuing throughout the month. Tubi will launch three new curated FAST channels — WB TV Reality, WB TV Series and WB TV Family — which will include all seasons of series including “Westworld,” “Raised by Wolves,” “Legendary,” “FBoy Island,” “The Nevers,” “Finding Magic Mike,” “Head of the Class” and “The Time Traveler’s Wife.”

Tubi also will add 11 other FAST channels from Warner Bros. Discovery centered on genres including lifestyles, homes, classic movies, education, mysteries and weddings. New titles across Tubi’s expanded linear FAST and AVOD lineup will include such series as “Cake Boss,” “My Cat From Hell,” “Breaking Amish,” “Caribbean Life,” “How It’s Made,” “Paranormal Lockdown,” “The Tomorrow People” and “My Five Wives,” as well as select seasons of “The Bachelor,” “The Bachelorette” and “Bachelor in Paradise,” in addition to films including “The Astronaut’s Wife,” “For Your Consideration” and “Lord of the Flies.”

------------

Here’s a list of the 14 new Warner Bros. Discovery FAST channels:

WB TV Series: premium TV shows series including “Westworld,” “Raised by Wolves,” “The Nevers,” and “The Time Traveler’s Wife”
WB TV Reality: unscripted TV series including “Legendary,” “FBoy Island” and “Finding Magic Mike”
WB TV Family: collection of “family-friendly” series including “Head of the Class”
WB TV Sweet Escapes: baking competition shows including “Cake Boss,” “Extreme Cake Makers” and “Cake Wars”
WB TV Paws & Claws: pet shows including “Dogs 101” and “My Cat from Hell”
WB TV Slice of Life: series following people from “all corners of the world” including “Extreme Couponing,” “Breaking Amish” and “My Big Fat Gypsy Wedding”
WB TV Welcome Home: Real estate and interior design shows including “Caribbean Life,” “Buying Hawaii,” and “Bahamas Life”
WB TV At the Movies: Selection of classic films from the ‘70s, ‘80s and ‘90s
WB TV How To: “curiosity-inspiring” series including “How It’s Made,” “How to Build Everything” and “How the Earth Works”
WB TV Supernatural: shows including “Ghost Brothers,” “Paranormal Lockdown” and “Ghost Asylum”
WB TV Crime Series: shows including “Murder Chose Me,” “A Crime to Remember,” and “Murder Comes to Town”
WB TV Mysteries: shows like “Mysteries at the Museum,” “Mysteries at the Monument” and “Off Limits”
WB TV Love & Marriage: shows including “Say Yes to the Dress Atlanta,” “Four Weddings” and “A Wedding Story”
WB TV Family Rules: series about real-life families including “Long Lost Family,” “The Little Couple” and “My Five Wives”
WB TV Keeping It Real: Reality shows including “The Bachelor,” “The Bachelorette,” “Bachelor in Paradise,” “Finding Magic Mike” and “Fboy Island”
WB TV All Together: shows with “characters who feel like family” including “Eight Is Enough,” “Better With You” and “Head of the Class”

https://variety.com/2023/digital/news/roku-tubi-warner-bros-discovery-free-fast-channels-westworld-1235507747/

[Brian Fowler]

Hopefully this at least means the back half of The Nevers season 1 actually will see the light of day.