Fox Corp Quarterly Figures Exceed Wall Street Expectations

In the quarter ending March 31, Fox Corporation saw its year-over-year profit increase sevenfold to $567 million, with a 6.5 percent drop in revenue to $3.2 billion. The numbers exceeded Wall Street estimates. Earnings per share were 88 cents, ahead of analyst expectations of 58 cents. Fox chief executive Lachlan Murdoch reported that exiting “Thursday Night Football” a year early would lift earnings from $350 million to $400 million, which would help finance the 13-year deal that the company struck to continue broadcasting Sunday NFL games. Continue reading Fox Corp Quarterly Figures Exceed Wall Street Expectations

Verizon Is Selling AOL, Yahoo and Its Media Brands to Apollo

Telecom giant Verizon announced today that it is selling AOL, Yahoo and its Verizon Media assets, including its advertising technology business to New York-based private equity firm Apollo Global Management for $5 billion. LionTree LLC, a global investment firm focused on media and tech, was lead advisor on the deal and will join Apollo as an investor. The new company will keep the Yahoo name and will be led by Guru Gowrappan, the current CEO of Verizon Media Group. Verizon plans to keep a 10 percent stake in the overall business. Continue reading Verizon Is Selling AOL, Yahoo and Its Media Brands to Apollo

Streamers Invest in Global Local Productions to Attract Subs

Emulating Netflix’s international strategy, Disney, Amazon and other companies with streaming services are heavily investing in local-language productions globally, to woo international subscribers. Formerly, Hollywood shipped dubbed or subtitled domestic movies and TV shows. These companies are fueling a boom of movie and TV production in Hindi, French, Portuguese, German, Polish and other languages. The Motion Picture Association reported that global subscriptions reached 1.1+ billion last year, rising from 400 million in 2016. Continue reading Streamers Invest in Global Local Productions to Attract Subs

Amazon Spent Heavily on Video and Music Content Last Year

In 2020 Amazon spent $11 billion on Prime services content, up 41 percent from the $7.8 billion it spent in 2019. The sum includes licensing and production costs and costs related to digital subscriptions and content it sells and rents. The first season of its “Lord of the Rings” TV show reportedly cost $465 million to produce. However, Amazon canceled the “Lord of the Rings” online role-playing game announced in 2019. The huge sums Amazon is putting into content reflects its desire to dominate global digital entertainment. Continue reading Amazon Spent Heavily on Video and Music Content Last Year

Sony Unveils 4K Streaming Service for Latest Bravia XR TVs

Sony debuted its Bravia Core (the ‘CORE’ stands for ‘Centre of Real Entertainment’), a 4K streaming service exclusive and free to owners of its 2021 Bravia XR TVs. Its content draws from the Sony Pictures library for new releases and older movies. Sony stated that Core provides lossless 4K streaming at a much higher bitrate than Netflix and other streaming services,” HDR, DTS sound and “the largest IMAX Enhanced movie collection.” The service, accessed through the Bravia Core app, is not available on older Sony smart TVs or other devices. Continue reading Sony Unveils 4K Streaming Service for Latest Bravia XR TVs

New NFL Deal Is Part of Amazon’s Plans to Increase Content

Amazon inked a deal to make its Prime Video service home to the National Football League’s “Thursday Night Football” by 2023. Amazon paid an “average annual fee” of about $1 billion, making it the company’s biggest such deal to date. Currently, Amazon ranks third in digital advertising, after Google and Facebook, but the exclusive NFL games will likely supercharge viewing and advertising. Recently, Amazon also signed deals to put its free ad-supported IMDb TV into more homes and ordered a spin-off of popular show “Bosch.” Continue reading New NFL Deal Is Part of Amazon’s Plans to Increase Content

Disney+ Achieves 100 Million Subscriber Mark in Record Time

The Walt Disney Company’s streaming service Disney+ reached 100 million subscribers in its first 16 months of operation, after reporting 94.9 million subscribers on January 2. With the latest announcement, Disney+ is clearly on track to reach the goal of 260 million subscribers by 2024. At a shareholder meeting, Disney chief executive Bob Chapek again stressed that Disney+ is a company priority and that it still plans to add 100+ new titles each year. In comparison, Netflix has 203.7 million subscribers. Continue reading Disney+ Achieves 100 Million Subscriber Mark in Record Time

NBC Grows Streaming ‘News Now’ Network with Tenth Show

NBC News is debuting two program hours on NBC News Now, its live streaming service. From NBC owned and operated station WRC-TV in Washington, DC, former anchor Aaron Gilchrist will headline a 12:00-2:00 PM slot Monday through Friday that will also be available on NBCUniversal’s streaming hub Peacock. The show will focus on breaking news, supplemented by stories from journalists in the field. The new program boosts NBC News Now to 10 live original hours daily. NBC News also produces “dozens of hours” daily for MSNBC. Continue reading NBC Grows Streaming ‘News Now’ Network with Tenth Show

Nielsen Sells Its Video Ad-Tech to Roku, Part of Multiyear Deal

Roku has inked a multi-year deal whereby data from Roku’s platform will be incorporated in the upcoming Nielsen ONE cross-media measurement product and Roku will acquire Nielsen’s Advanced Video Advertising (NAV) business, which will enable it to offer a fully addressable advertising solution for TV programmers. Under the terms of the deal, Roku will have Nielsen’s video automatic content recognition (ACR) technology and its dynamic ad insertion (DAI) system, allowing it to offer targeted, household-level advertisements. Continue reading Nielsen Sells Its Video Ad-Tech to Roku, Part of Multiyear Deal

Cuomo Greenlights March 5 Opening for NYC Movie Theaters

New York governor Andrew Cuomo gave the okay for movie theaters to open beginning March 5 for a maximum of 50 people per screening, a capacity of 25 percent. This marks the first time that movie theaters there have opened in almost a year. Theaters must use advanced air filtration systems, while attendees are required to wear masks and sit in their assigned seats. State theaters outside New York City have reopened over the last few months based on lower COVID-19 infection numbers. In reaction to the news, AMC Entertainment stock rose 16 percent. Continue reading Cuomo Greenlights March 5 Opening for NYC Movie Theaters

EA Acquires Game Developer Glu Mobile in $2.4 Billion Deal

Electronic Arts plans to boost its mobile game business by purchasing game developer Glu Mobile in a deal valued at $2.4 billion, one of the highest prices ever paid for a video game studio. Glu Mobile’s creations include, among others, “Diner DASH,” “Disney Sorcerer’s Arena,” “WWE Universe,” “MLB Tap Sports Baseball 2020” and “Kim Kardashian: Hollywood.” According to Glu Mobile, the company’s games earned $1.32+ billion in bookings last year. EA is particularly interested in Glu Mobile’s experience in sports and casual games. Continue reading EA Acquires Game Developer Glu Mobile in $2.4 Billion Deal

Disney Premieres Interactive Short at Sundance Film Festival

During Sundance Film Festival 2021 (January 28 – February 3), Disney Media & Entertainment Distribution and Disney Television Animation is showcasing an interactive short — “Baymax Dreams of Fred’s Glitch” — that plays via Nvidia’s GeForce NOW streaming service. The game-like short features the cast from “Big Hero 6” and challenges the viewer to fix Fred’s destructive “glitch” and Baymax’s programming. “Baymax Dreams” is part of the New Frontier Alliance Showcase at Sundance. GeForce NOW, officially unveiled in 2015, recently launched for the Chrome web browser and M1 Macs in beta. Continue reading Disney Premieres Interactive Short at Sundance Film Festival

Municipalities Want Streaming Services to Pay Franchise Fees

As streaming media services increasingly resemble cable bundles, more towns and counties are looking to regulate them. In Georgia for example, three municipalities filed a federal lawsuit against Netflix, Hulu and other services for as much as 5 percent of their gross revenue in an attempt to treat them as cable services. According to the lawsuit, Netflix earned about $103 million over the recent five years from subscribers in Gwinnett County, Georgia. If treated as a cable provider, that would represent $5.15 million in retroactive fees. Continue reading Municipalities Want Streaming Services to Pay Franchise Fees

Struum to Aggregate Content from Many Streaming Services

Co-founded by former Discovery and Disney executives, Struum is a new entrant to the streaming space that, rather than offering its own content, instead hopes to find a niche in helping viewers manage the flood of content available from hundreds of streaming services. It will provide viewers á la carte access to shows and movies without having to subscribe to each platform, giving visibility to smaller services. Former Disney chief executive Michael Eisner’s The Tornante Company is Struum’s main financial backer.

Continue reading Struum to Aggregate Content from Many Streaming Services

VFX House Weta Digital Aims to Become a Content Producer

New Zealand-based Weta Digital, a visual effects company that has worked on such high-profile films as “Avatar” and “Avengers: Endgame,” is making a play to create its own original content. Co-founded by “Lord of the Rings” director Peter Jackson, Weta Digital recently added firepower to its board of directors, including former Disney chief operating officer Tom Staggs, and is also searching to make strategic purchases in the special effects and animation business since animation can be produced remotely during the coronavirus pandemic. Continue reading VFX House Weta Digital Aims to Become a Content Producer

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