Federal 5G Spectrum Auction Raises Nearly $70 Billion So Far

An auction of wireless licenses, which began December 8 and is conducted by the Federal Communications Commission, has thus far reaped $69.8+ billion. The auction shut down during the holidays but recommenced January 4, meaning the total bids will likely increase. The previous record, in 2015, was the $44.9 billion raised by a sale of mid-range cellular licenses to boost 4G coverage. The winning bidders will not be revealed until the auction ends, but AT&T and Verizon are pegged by analysts to be dominant. Continue reading Federal 5G Spectrum Auction Raises Nearly $70 Billion So Far

Release of ‘Tenet’ Could Be a Bellwether for Movie Exhibitors

Major Hollywood movies are finally being released in movie theaters, with “The New Mutants,” which had a $70+ million budget, and director Christopher Nolan’s “Tenet,” a $200 million thriller. But it’s still unclear how many people in the U.S. feel safe enough to go inside. Abroad, “Tenet” raked in $53 million on its opening day weekend from 41 global markets, a source of optimism for Warner Bros. (the film opens in the U.S. and China this week). Pirates have been foiled, meanwhile, fooled into downloading fake torrents of the blockbuster. Continue reading Release of ‘Tenet’ Could Be a Bellwether for Movie Exhibitors

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

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