All articles tagged with #entertainment business
Paramount Pictures and developer Rick Caruso announced plans to reopen the Bay Theater in Pacific Palisades later this year. The venue, closed since the January 2025 wildfires, will be operated by The Lot and feature first-run films, classics, and immersive events. This move signals a broader resurgence of Los Angeles cinema following the Paramount-Warner Bros. Discovery merger.
Ari Emanuel has released his new memoir, 'Roll the Calls,' ghostwritten by J.R. Moehringer, detailing his rise from a CAA mailroom clerk to the head of WME Group and TKO. The book, which features an audiobook narration by Bob Odenkirk, explores his early struggles with dyslexia and the brutal power dynamics of Hollywood. In accompanying interviews, Emanuel defends cross-partisan dialogue with the Trump administration regarding film tax credits and expresses optimism about AI enhancing rather than replacing creative talent.
The Television Academy is in advanced talks to move the Primetime Emmy Awards to Amazon Prime Video, ending the 31-year 'wheel deal' with broadcast networks. The 78th ceremony on NBC marked the final broadcast under the current eight-year agreement. This shift would make the Emmys the second major EGOT award to move off network TV, following the Oscars' move to YouTube in 2029. While Prime Video is the leading candidate, the Academy has also explored simulcasts and other streaming platforms, though a single-platform deal offers stability and higher production incentives.
American Idol is moving its Season 25 production from Los Angeles to the Atlanta area, confirmed by Fremantle. The shift, driven by Georgia’s 30% tax credit for unscripted TV, marks a significant loss for California’s struggling reality TV sector. While the show’s judges and host are expected to return, the move highlights ongoing tensions over California’s restrictive AB 1138 tax incentives.
Cinema United urges Paramount's David Ellison and California Attorney General Rob Bonta to meet promptly to resolve California's challenge to Paramount's proposed merger with Warner Bros. Discovery. Cinemark backs the deal, saying it could improve film output if enforceable guardrails are in place, including longer theatrical windows, stable rental terms, safeguards for theatres of all sizes, and continued access to Paramount and WBD catalogs.
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.
Disney CEO Bob Iger stated that the company's primary goal is to entertain rather than convey messages in its content, dismissing criticisms from activist shareholders like Nelson Peltz and Elon Musk. Despite recent shareholder support, Iger faces the challenge of revitalizing Disney's performance and succession planning. The company is focused on priorities such as making Disney+ profitable, integrating Hulu, and navigating cultural and strategic shifts in the entertainment industry. Additionally, there is speculation about potential successors, with Dana Walden being considered a strong contender for the CEO position.
Rock band Kiss has sold the rights to its name, image, and likeness to the company behind the Abba hologram show for $300 million, as the music industry continues to see a trend of established artists monetizing their brands through such deals in the entertainment business.
Taylor Swift's exclusive deal to perform only in Singapore on her Southeast Asian tour is expected to give the Singaporean economy a $370 million boost, sparking controversy among neighboring countries. Meanwhile, Hong Kong's reaction to Lionel Messi's absence from a friendly match highlights the contrasting approaches of cities in attracting global stars.
Apple has spent $200 million on big-budget movies like "Argylle," "Killers of the Flower Moon," and "Napoleon," with mixed box office results. While these films may not recoup their investments in theaters, they could attract subscribers to Apple TV+ and generate awards buzz. Despite concerns about profitability, Apple's deep pockets allow it to continue experimenting with its film strategy, which prioritizes prominence over profits. However, the company's theatrical flops raise questions about its long-term viability in the movie industry and its ability to attract top talent.
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-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.