Issue Friday, July 19, 2019 (2024)

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THE REPORTShari Redstone’s Merged Empire: How It Will Try to CompeteIn 2005, the parents of Star Trek divorced, with CBS winning custody of the TV shows while Viacom got the film franchise, courtesy of its Paramount Pictures. It’s all but certain, though, that a reconciliation is in the works and an announcement of their intended reunification, sources tell THR, is due Aug. 8, the day each is set to report quarterly earnings.Some insiders — only on deep background, but with a straight face — say that putting Star Trek back under one roof is, indeed, one important reason to reunite Viacom with CBS, much like Disney has worked hard to keep as many Marvel characters as possible in its singular House of Mouse. For that matter, Mission: Impossible also could use some continuity, as Viacom has the films while CBS…5 min

THE REPORTHas Netflix’s Soaring Growth Finally Hit a Wall?For years, the biggest question surrounding Netflix has been: How long can the good times last? The streaming giant has watched its stock soar nearly 500 percent since 2014 as sequential quarters of subscriber growth made up for its mounting content spend, estimated at $15 billion in 2019. Then, on July 17, Netflix reported its first loss of U.S. subscribers since its bungled 2011 Qwikster launch, sending the stock down more than 10 percent.While one quarter wasn’t enough for observers to sound an immediate alarm — research firm Pivotal sent a note after the earnings report warning not to “make a mountain out of a molehill” — it was enough to signal that Netflix’s rapid expansion won’t continue forever, especially with competition from major media companies like Disney, WarnerMedia and…2 min

THE REPORTCan YouTube Fend Off Rivals for Top Influencers?The marine layer was burning off above the Santa Monica Mountains as some 160 influencers descended on Malibu’s Calamigos Ranch for the second annual Facebook Creator Day on July 9 to learn about building audiences and making money on the platform. The social giant just unveiled new ways to take advantage of the platform’s 2-year-old revenue sharing program, including more flexible ad placements and a fan subscription feature. Over the past year, Facebook vp entertainment partnerships Sibyl Goldman has watched creators like Jay Shetty (25 million followers), a motivational speaker, and rapper Prince Ea (15 million followers) take off on the platform. Now, she tells THR, she’s focused on giving them more tools to understand how their videos are performing.On the next day, July 10, thousands of established and aspiring…2 min

THE REPORTSTX Seeks Cash From Saudi Arabia and ChinaFollowing a string of box office duds, STX Entertainment is looking for a lifeline with an investment from Saudi Arabia. Sources tell THR that a deal between the country’s Public Investment Fund and STX is nearly complete. That would make the indie studio, run by Bob Simonds, the first to take Saudi money since the murder of Washington Post columnist Jamal Khashoggi in October.The 5-year-old studio, whose model is making midbudget films anchored by a star, has largely struggled since its inception, with some notable hits including Bad Moms ($184 million worldwide) and the Amy Schumer vehicle I Feel Pretty ($95 million worldwide). But the recent flop UglyDolls ($28 million globally) added more strain.Though TPG has the largest equity and debt position in STX, the studio has relied heavily on…1 min

THE REPORT‘Stuber Should Not be the Same Price as Avengers’On its first Tuesday (July 16), the troubled action-comedy Stuber took in a surprisingly strong $1.4 million, up a huge 72 percent from the day before and not all that far behind the $2.2 million it earned on Sunday. The secret behind the number wasn’t a post-opening marketing blitz waged in hopes of salvaging the R-rated Fox film, but a “discount Tuesday.”In thousands of theaters across the country, the cost of a ticket on that day can be a third of the normal price — as low as $6 in New York and Los Angeles, the two most expensive U.S. moviegoing markets, where a ticket now costs upward of $17 or $18 (and that’s for a no-frills format). The overall revenue generated on Tuesdays is substantial, fueling new momentum behind…4 min

Issue Friday, July 19, 2019 (2024)

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