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

Theaters Hit Hard by Coronavirus as Streamers Reap Rewards

The coronavirus is hitting the National Association of Theatre Owners particularly hard, as local governments close movie theaters and consumers turn to streaming services. Regal Cinemas announced it is closing all its theaters, effective today, until further notice. Meanwhile, studios are reconsidering the exclusive 90-day window for theatrical exhibition. Universal Pictures is the the first major studio to announce a change to the traditional model. “We hope and believe that people will still go to the movies in theaters where available, but we understand that for people in different areas of the world that is increasingly becoming less possible,” said NBCUniversal CEO Jeff Shell. Continue reading Theaters Hit Hard by Coronavirus as Streamers Reap Rewards

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

Netflix Considers Introducing Bonuses For Successful Movies

Netflix, which traditionally has paid talent with upfront deals, is reportedly considering bonuses for filmmakers, actors and producers when their movies prove to be successful. Insiders indicate that the number of awards a movie wins or its viewership numbers could measure the level of success. The new incentive model would be designed to win film projects for the streaming service that would otherwise be picked up by other studios. While Scott Stuber, head of Netflix’s original film division, has been discussing possibilities with producers, details regarding the types of bonuses or who might receive them have not been revealed. Continue reading Netflix Considers Introducing Bonuses For Successful Movies

Netflix Invests $520 Million to Make Three Big-Budget Films

According to sources, Netflix will spend $520+ million to make three movies, although none of them are likely to get a wide theatrical release. This month, Netflix committed almost $200 million to make the action movie “Red Notice,” with Dwayne Johnson, Ryan Reynolds and Gal Gadot. The company has stated that one-third of its 150 million subscribers are drawn to its movies, with TV accounting for the rest. New movie productions, it hopes, will help retain current viewers and attract new ones. Continue reading Netflix Invests $520 Million to Make Three Big-Budget Films

Trade War with China Could Impact Hollywood’s Box Office

In the ongoing U.S.-China trade war, Hollywood is feeling the impact, as the Beijing-based government has begun to limit Hollywood’s ability to sell its entertainment products. Four people who do business in China or closely follow its relations with Hollywood are commenting to the press on the worsening relationship. China, currently the world’s second-largest film market, requires government approval for film distribution. “I don’t want to use the words ‘total freeze,’ but it’s real,” said SK Global head and “Crazy Rich Asians” producer John Penotti. “They’re not saying it officially, but the industry is operating as if it’s close to a total shutdown.”

Continue reading Trade War with China Could Impact Hollywood’s Box Office

Hollywood Warms Up to AI Algorithms For Planning Content

Los Angeles startup Cinelytic uses artificial intelligence to project box office returns. It licenses data about past movie performances and cross-references that with themes and actors in order to identify patterns. The software allows the user to input script and cast, and then try to see how specific actors would likely impact box office receipts. Other companies are experimenting with applying AI to film production, including the Belgium-based ScriptBook, which its founders say can predict success via an analyzed script. Continue reading Hollywood Warms Up to AI Algorithms For Planning Content

MPAA Report Details Shifts in Home Entertainment Market

According to the MPAA’s annual Theatrical Home Entertainment Market Environment (THEME) Report, data from DEG and IHS Markit points to a significant reduction in the sales of video discs, including DVD, Blu-ray Disc, and Ultra HD Blu-ray. Global sales of video disc formats dropped from $25.2 billion in 2014 to $13.1 billion in 2018. However, global consumer spending on home entertainment increased 16 percent over 2017, thanks in part to the growing adoption of online subscription services such as Netflix, Amazon and Hulu. The combined theatrical and home entertainment market increased 25 percent from five years ago. Continue reading MPAA Report Details Shifts in Home Entertainment Market

A Deep Dive into Media & Entertainment in China and India

China and India are the world’s most populous nations. Although most people in the industry know at least a bit about media & entertainment in these countries, an NAB 2019 panel brought in two native experts to paint a fuller, more realistic and even surprising picture. A discussion moderated by Corto founder/chief executive and ETC project lead Yves Bergquist brought together two leading experts: Whistling Woods’ Chaitanya Chinchlikar from India and Dr. Charles Lee from China, both of whom gave in-depth presentations. Continue reading A Deep Dive into Media & Entertainment in China and India

MPAA Announces Record Earnings in Global Entertainment

The Motion Picture Association of America revealed that the global entertainment market reached $96.8 billion in 2018, 9 percent over 2017 and a new record. Most notable was the growth of streaming video, 27 percent over 2017 to 613.3 million global subscriptions. Cable subscriptions, meanwhile, dropped 2 percent to 556 million subscribers, marking the first time that streaming bested cable (although cable still earns more money). Theatrical box office in the U.S. and Canada grew to $11.9 billion, while the overall global box office grew to $41.1 billion. Continue reading MPAA Announces Record Earnings in Global Entertainment

Rotten Tomatoes Adjusts Its Review Model to Combat Trolls

To better combat online trolls who have recently been waging campaigns to affect audience ratings for certain movies, Fandango-owned Rotten Tomatoes is making a significant change to its review submission model. Since the influential website relies upon credible ratings, “review bombing” that adversely impacts audience ratings is seen as a major issue. In order to minimize such a potential flood of negative reviews, users will no longer be permitted to post any audience reviews until the film in question appears in theaters. Continue reading Rotten Tomatoes Adjusts Its Review Model to Combat Trolls

U.S. Home Entertainment Spending Peaks at $23.3B in 2018

According to DEG: The Digital Entertainment Group, U.S. consumer spending on home entertainment during 2018 reached an estimated $23.3 billion, a new record. During CES, DEG revealed that subscription streaming and “transactional video-on-demand” (TVOD) boosted the amount spent, which was up 11.5 percent from 2017. DEG noted that the numbers are still preliminary and that final numbers will be revealed in early February. The biggest growth came from subscription streaming mainly via Netflix, Amazon Prime Video and Hulu. Continue reading U.S. Home Entertainment Spending Peaks at $23.3B in 2018

MoviePass Settles on Plan: Three Movies Per Month at $9.95

In the wake of service outages and other problems, MoviePass has cut back the number of films that its subscribers can see monthly, from one per day to three per month. The company had upped the monthly subscription fee from $9.95 to $14.95, but that only drove customers away, deepening its financial woes. The limit of three movies per month is in lieu of the price hike. MoviePass chief executive Mitch Lowe said the new policy will take effect August 15 and will reduce the company’s “cash burn rate” by more than 60 percent. Continue reading MoviePass Settles on Plan: Three Movies Per Month at $9.95

MoviePass Sells $128M in Tickets for Oscar-Nominated Films

Startup MoviePass, which charges subscribers $10 per month for the option to watch one film per day in a participating theater, said it has passed 2 million subscribers. The company also reported that it was responsible for $128.7 million of the domestic box office for this year’s Oscar nominated films. MoviePass chief executive Mitch Lowe has described the math behind the company’s claim. He also has an explanation for how the company will survive its biggest economic challenge: that it loses money on any customers who sees at least two movies a month. Continue reading MoviePass Sells $128M in Tickets for Oscar-Nominated Films

Netflix Debuts ‘Cloverfield Paradox’ as a Super Bowl Surprise

Much to the surprise of viewers watching Super Bowl LII, Netflix debuted a trailer for its much-anticipated sequel to “Cloverfield” and “10 Cloverfield Lane,” titled “The Cloverfield Paradox” — and announced that the movie, produced by J.J. Abrams, would be available to stream as soon as the game ended. During the evening, filmmaker Ava DuVernay tweeted her support for the “woman of color-led, sci-fi thriller released worldwide day + date w/ big Netflix muscle for black director, his super producer + POC cast.” Continue reading Netflix Debuts ‘Cloverfield Paradox’ as a Super Bowl Surprise

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