Snap Expands AR Toolset, Announces Deals for New Content

Snap inked multi-year deals for custom short-form content with Disney, NBCUniversal, ViacomCBS, the National Basketball Association and the National Football League. It released plans for original content including unscripted series, docuseries, and scripted dramas and comedies. In partnership with The Washington Post, Bloomberg and ESPN, Snap will produce “Happening Now,” a breaking news feature. It also revealed that 170+ million people use its augmented-reality tools daily, moving the technology into the mainstream. Continue reading Snap Expands AR Toolset, Announces Deals for New Content

AMC Expresses ‘Substantial Doubt’ About its Chain’s Survival

AMC Theatres told its investors that “substantial doubt exists about our ability to continue as a going concern for a reasonable period of time.” In a new 8-K filing, ahead of its earning call next week, the company described how it is trying to survive but also stressed how badly the coronavirus pandemic is eroding its financial stability. The movie theater chain had $5 billion in debt by the end of 2019 and continues to borrow more. Adding to its woes is the worry that distributors will postpone new film releases. Continue reading AMC Expresses ‘Substantial Doubt’ About its Chain’s Survival

Industry Task Force Publishes Guide for Resuming Production

The Industry-Wide Labor-Management Safety Committee Task Force (“The Task Force”) submitted its suggested safety guidelines for the reopening of film, television and streaming industries to New York governor Andrew Cuomo and California governor Gavin Newsom. The Task Force, comprised of studios, guilds and producers, published a 22-page “Proposed Health and Safety Guidelines” white paper that includes the need for cast and crew physical distancing “whenever possible.” Industry leaders based the proposals on discussions with health experts and guidelines issued by the CDC and OSHA.  Continue reading Industry Task Force Publishes Guide for Resuming Production

Pandemic Disrupts Traditional TV Upfronts and Ad Spending

Spring is when the television industry holds glitzy upfronts to showcase their fall TV lineup to advertisers in impressive locations like Carnegie Hall and the Beacon Theatre. NBCUniversal, for example, typically holds its upfront at Radio City Music Hall. This year, however, the coronavirus pandemic is impacting the traditional approach to upfronts. NBCUniversal chair of advertising & partnerships Linda Yaccarino held court over a livestreamed presentation from her home, joined by two celebrities making remote appearances. Advertisers accessed the upfront by clicking on a private link. Continue reading Pandemic Disrupts Traditional TV Upfronts and Ad Spending

Pay-TV Providers Feel the Impact of Increase in Cord-Cutting

The COVID-19 pandemic is speeding up the ongoing trend of cord-cutting, according to industry experts. The major reason that consumers still hold on to pay-TV subscriptions is to watch live sports. Now, with all professional and college sports events on hold, that reason has disappeared. Additional reasons to cut the cord are high unemployment and an increasing number of free streaming options for entertainment. Cable, virtual cable and satellite TV companies have posted significant losses at the end of the last quarter. Continue reading Pay-TV Providers Feel the Impact of Increase in Cord-Cutting

‘Trolls’ Sequel Tests PVOD Model While Theaters Are Closed

“Trolls World Tour,” produced by DreamWorks Animation and distributed by Universal Pictures, was due to release in movie theaters on April 10. But when the coronavirus pandemic closed theaters, Universal decided to release it as a $19.99 digital rental on platforms including Apple TV, Amazon and Comcast’s Xfinity. Three weeks later, “Trolls” has generated almost $100 million, more than the original 2016 movie. That has encouraged Universal execs to consider digital release as a real alternative to postponing a theatrical release. Continue reading ‘Trolls’ Sequel Tests PVOD Model While Theaters Are Closed

NBCU’s Fandango Purchases Streaming Video Service Vudu

Following the soft launch of its Peacock streaming service to Comcast Xfinity X1 and Flex customers, NBCUniversal is bringing another streamer into the fold, this time to expand its Fandango offerings. Movie ticket seller Fandango has acquired digital movie and TV streaming platform Vudu from retail giant Walmart, with plans to merge it with digital marketplace FandangoNOW. According to Walmart, Vudu is available on more than 100 million devices, while its mobile app has more than 14 million downloads.  Continue reading NBCU’s Fandango Purchases Streaming Video Service Vudu

NBCUniversal Launches Peacock Service for Comcast Subs

NBCUniversal debuted its streaming platform Peacock to more than 10 million subscribers of parent company Comcast’s cable service using Xfinity X1 and Flex devices. Peacock is slated for a wider rollout this summer. With the coronavirus pandemic forcing many in the U.S. to stay at home, TV and streaming services have seen skyrocketing usage, according to Nielsen. Streaming via Comcast Xfinity was up 50 percent in March from February. NBC had planned to promote Peacock during the Tokyo Summer Games, which have since been postponed. Continue reading NBCUniversal Launches Peacock Service for Comcast Subs

While Streaming Services Surge, a Number of Hurdles Loom

Streaming video is in high demand, as millions of people sheltering at home seek entertainment. According to a poll of 2,000 people by The Wall Street Journal and the Harris Poll, Americans spent $37 per month on streaming services in March, up from the $30 they spent in November. Amazon Studios chief operating officer Albert Cheng calls the rising metrics “jaw-dropping.” The Walt Disney Company is also experiencing a bump, with its Disney+ signing up 50 million global subscribers within five months of launching. However, existing and emerging services face a mounting recession and delayed productions. Continue reading While Streaming Services Surge, a Number of Hurdles Loom

Coronavirus Leads to an Increase in TV Viewing and Streaming

Nielsen revealed that, as coronavirus cases rose in South Korea, TV viewership increased 17 percent. In Italy, it rose 6.5 percent, with a 12 percent spike in Lombardy, particularly hit hard by the virus. That trend has arrived in the U.S. where, said Nielsen, in the Seattle area total television use (which includes live TV, on-demand viewing, streaming and gaming) rose 22 percent on March 11 from the week before. Streaming also increased 20 percent globally. Still, it may be a short-lived panacea for many media companies. Continue reading Coronavirus Leads to an Increase in TV Viewing and Streaming

Fox Corporation Acquires Streaming Platform Tubi for $440M

Fox Corporation is purchasing San Francisco-based, ad-supported streaming platform Tubi for $440 million in cash and the potential of $50 million in future deferred consideration and unvested options. Tubi, which currently has 25 million users in North America and Australia, streams thousands of movies and TV shows from more than 250 content partners including Lionsgate, Paramount Pictures and Warner Bros. Tubi is accessible via numerous streaming devices, including the Amazon Fire TV Stick, Apple TV, Roku, and smart TVs from brands such as Samsung and Sony. Continue reading Fox Corporation Acquires Streaming Platform Tubi for $440M

Coronavirus: AMC Is Latest Theater Chain to Close Locations

In response to precautions being taken to avoid spread of the coronavirus, AMC Theatres announced that, as of yesterday, it is closing its U.S. locations for at least 6-12 weeks while remaining flexible to comply with CDC and government guidelines. “AMC Stubs A-List members will automatically have their accounts paused” for the period of closure (without billing or payments), while film fans “are encouraged to continue the AMC movie-watching experience through AMC Theatres On Demand.” AMC joins Regal Cinemas, which announced earlier that it would be closing all its theater locations “until further notice.” Continue reading Coronavirus: AMC Is Latest Theater Chain to Close Locations

Broadcast TV Programmers Move Upfronts to Online Platforms

Due to concerns regarding the coronavirus, broadcast TV programmers have canceled their in-person Upfront pitches to advertisers, scheduled for May in New York City. Viacom’s CBS, NBCUniversal, Fox Corp. and ABC parent Disney are calling off their annual stage shows, although advertisers will still seek to ink deals with them. NBCUniversal’s chair of advertising and partnerships Linda Yaccarino noted that, “this year’s Upfront presentation will ensure everybody’s safety, while allowing us to give fans and marketers a preview of the upcoming season.” Continue reading Broadcast TV Programmers Move Upfronts to Online Platforms

Tech and Media Industries Feeling Impact of the Coronavirus

Hollywood, digital media and technology are among the growing number of industries being impacted by the coronavirus. As the virus continues to spread globally, a range of business sectors are feeling the effects, including media production, movie theaters, theme parks, touring performers, music acts and consumer electronics. In addition, major tech conferences such as Google I/O, Facebook’s F8, Adobe Summit and Mobile World Congress in Barcelona have been canceled, representing about $500 million so far in lost revenue for airlines, hotels, restaurants, and related businesses. China’s film industry has lost close to an estimated $2 billion in box office grosses since its theaters closed earlier this year. Continue reading Tech and Media Industries Feeling Impact of the Coronavirus

WarnerMedia Deal to Bring HBO and Cinemax to YouTube TV

Google’s streaming OTT service YouTube TV — which provides subscribers with live television and news, on-demand video, cloud-based DVR, and live and local sports from 70+ networks— will carry Cinemax and HBO for the first time under a new distribution deal with AT&T’s WarnerMedia. As part of the agreement, YouTube TV will also offer the upcoming streamer HBO Max when it debuts in May, and will continue to provide Turner cable networks such as Adult Swim, Cartoon Network, CNN, HLN, TBS, TNT, truTV and Turner Classic Movies.  Continue reading WarnerMedia Deal to Bring HBO and Cinemax to YouTube TV