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TKO Reports $614M in Quarterly Revenue As It Targets Growth on New Media Rights
In the first full quarter to incorporate WWE earnings since its formation, TKO Group Holdings reported revenue of $614 million and adjusted EBITDA of $223.2 million, laying a roadmap for growth in 2024 and beyond as the company seeks to capitalize on its media rights renewals, as well as live events and sponsorship growth. TKO […]
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Hilde Lynn Helphenstein Signs With UTA (Exclusive)
Hilde Lynn Helphenstein, AKA Jerry Gogosian, has signed with UTA. The visual artist and digital storyteller is the brains behind @jerrygogosian, a popular Instagram meme account that satirizes and comments on the global art world through viral images, videos and text pieces. UTA, the Hollywood talent, entertainment and sports company, will partner with Helphenstein on […]
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Netflix Becomes Broadway Producer on Peter Morgan’s ‘Patriots’
Netflix has joined as a producer of the stage play Patriots, marking the media giant’s first Broadway producing credit. The play, which is written by Peter Morgan, creator of the Netflix series, The Crown, is set in 1991, after the fall of the Soviet Union, and follows a Russian billionaire, Boris Berezovsky, trying to recruit […]
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AMC Theatres’ Workers at Universal City Location Attempt to Unionize
The latest coming attraction for Universal Cinema AMC at CityWalk Hollywood? A union election at the National Labor Relations Board. On Feb. 20, the crew union IATSE petitioned the NLRB for an election to determine if 44 staffers at the Universal City location will decide to join their ranks. The union is attempting to represent […]
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How AMC Networks Thinks About Licensing and Developing Content for Other Buyers
The television industry is at the beginning of an era that can be termed “the great rebundling,” said AMC Networks CFO Patrick O’Connell. Speaking at a J.P. Morgan conference on Tuesday, O’Connell pointed to the Disney-Charter deal as a model for streaming services moving forward. He argued with more bundling, and more ad-supported linear networks […]
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Sony Lays Off 900 Employees in Gaming Division
Sony is the latest tech and gaming giant to undergo a significant round of layoffs. The company’s Sony Interactive Entertainment unit is cutting 8 percent of its workforce, or about 900 people, its CEO Jim Ryan told employees Tuesday morning. The division includes Sony’s PlayStation devices, as well as multiple game development studios. “Through discussions […]
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A Streaming TV Prizefight: Walmart Tries Muscling in on Amazon
The first-ever television commercial ran on July 1, 1941, during a Brooklyn Dodgers-Philadelphia Phillies baseball game airing on the local New York TV station WNBT. The 10-second spot, for Bulova Watches, featured a graphic of a Bulova watch face over a map of the U.S. A voiceover declared that “America runs on Bulova time.” As […]
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Live Nation Loses Bid to Dismiss Investor Class Action Lawsuit Over Antitrust Scrutiny
Live Nation may have lied to investors by misattributing its success to the quality of its platform and services instead of allegedly anticompetitive behavior, a federal judge has ruled. U.S. District Judge Kenly Kato, in an order issued on Monday declining to dismiss a proposed class action lawsuit, found that the ticket giant may have […]
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Writers Guild East Names Sam Wheeler as Executive Director
The Writers Guild of America East has named Sam Wheeler executive director after its previous staff leader announced his departure last fall. Wheeler, currently the national executive director of the American Guild of Musical Artists, will start at the writers’ union on April 1. The union’s council announced the hire on Monday, saying that Wheeler’s […]
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Hollywood Moguls Try a Quarterback Sneak
Sitting in Pat McAfee’s studio in Indianapolis Feb. 14, NBA commissioner Adam Silver engaged in an extended conversation about the state of streaming sports. McAfee, whose show is simulcast on ESPN, brought up the recently-announced joint venture between Disney, Fox, and Warner Bros. Discovery seems like a game-changing development. “We knew nothing about until it […]
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‘The Mandalorian’ Movie Nabs $21M In Tax Credits to Shoot In California As Disney Claims Most Incentives
The number of feature films receiving tax credits to shoot in California are on the rise, with some productions spending big bucks to nab major incentives along the way. Led by The Mandalorian & Grogu, five studio projects were selected to participate in California’s Film and TV tax credit program, the state’s film office announced […]
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Telemundo Taps Gemma Garcia to Lead News Division
Telemundo has found its new news chief. The Spanish-language media company, owned by NBCUniversal, has named Gemma Garcia head of Noticias Telemundo. Reporting to Telemundo chairman Luis Fernández, Garcia will work as executive VP of news, overseeing Telemundo’s news programming, editorial units, digital news properties, newsgathering and bureaus in the United States and Latin America, […]
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Disney+ Exec Jumps to The Economist
Disney+ exec Luke Bradley-Jones is set to join The Economist to speed up the iconic magazine’s pivot to becoming a digital-first global product. Bradley-Jones, most recently senior vp and general manager of Disney+ EMEA since Jan. 2020, helped launch the studio’s flagship streaming platform across Europe, the Middle East and Africa. He will remain at […]
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Streaming to Overtake Pay TV Subscription Revenue in the U.S. This Year
Streaming revenue will overtake pay TV subscription revenue in the U.S. for the first time later in 2024, helped by the addition of ad tiers by various streamers, according to a new forecast. Total revenues from streaming, including subscription and advertising revenue, will start topping revenue from pay TV subscriptions in the third quarter of […]
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Whoopi Goldberg-Backed Streaming Service Blkfam Launches, Targeting Black Families
A new streaming service is launching Monday, one with a very specific focus and a very famous investor. Blkfam, which is targeting Black family audiences, is founded by WarnerMedia veteran Larry Adams, with Whoopi Goldberg on board as an equity investor and a creative force. “I’m the marketing, distribution, business guy, she’s the creative powerhouse […]
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Disney Activist Investor: Studio Should Embrace AI to Create Characters, Improve Parks
Should Disney release AI-generated Hollywood movies to realize its true shareholder value? A technology “vision” statement from Blackwells Capital — an activist firm run by Jason Aintabi campaigning for board seats at Disney’s annual meeting set for April 3 — asks the studio to take advances in artificial intelligence seriously. “Disney should be dominating […]
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