entertainment-business19.735 min read
Theaters Seek Quick Breakthrough in Paramount-WBD Merger With Cinemark Support
10 days ago•Source: Deadline
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6.47 min•2 years ago
The Rise and Fall of MoviePass: A Cautionary Tale
The HBO Max documentary "MoviePass, MovieCrash" explores the rise and fall of MoviePass, a subscription service that offered daily movie tickets for $9.95 a month. Initially popular, the company quickly amassed debt and faced operational issues, leading to its collapse in 2019. The film highlights the contrasting visions of its founders, Stacy Spikes and Hamet Watt, and the new management, who prioritized quick profits over sustainability. The story underscores issues of reckless growth, private equity greed, and racial bias in the startup world.
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"AMC CEO Blames Hollywood Strikes for Record-Low Box Office Performance"
AMC CEO Adam Aron expresses frustration over the decline in the company's share price, attributing it to the impact of the 2023 actors/writers strikes on the early 2024 box office. He also mentions the lingering impact of the COVID-19 pandemic on the movie-theater industry. The stock has hit record lows, reflecting the demise of its meme-stock status, and is down 90.8% in the last 52 weeks. Aron's recent tweets also include praise for Joel Embiid and the Kansas City Chiefs.
"Netflix Co-Chief Ted Sarandos Praises WWE Deal as Key to Emerging Sports Drama Strategy"
Netflix Co-CEO Ted Sarandos celebrates the acquisition of exclusive rights to WWE programming, emphasizing its alignment with the company's sports strategy and potential for international growth. The 10-year, $5 billion deal includes non-U.S. rights and will add to Netflix's event programming, with plans for expansion into new territories. Sarandos sees WWE as complementary to the company's ad-supported tier and indicates that the move does not signal a shift in Netflix's approach to conventional sports rights.