There are several issues writers and Hollywood studios are battling over in their contract talks including streaming, AI, and writers’ rooms. Recently, media mogul Barry Diller warned of consequences for studios if they continue partnering with streaming companies like Netflix (NFLX). MNTN CEO Mark Douglas joins Yahoo Finance Live to discuss the comments. “If you look at the economics on it, I’m not sure how that quite works,” Douglas says. Douglas notes that Disney (DIS) “did about $10 billion in studio revenue last year,” whereas Netflix (NFLX) did “three times that, just by themselves. So they’re the size of like a couple of major studios combined, so I don’t know how you take an industry that seems to be largely striking over streaming and try to separate it out.” “Whenever these studios are in trouble, it’s like the finance team takes over and it just doesn’t make sense,” Douglas says. “These studios have to meet consumers where they are. The consumer sees no difference,” Douglas discusses. Douglas also notes that this is “not new. All this talk was on DVDs,” 20, 30 years ago as well. “Every time there’s a new technology, it’s like everyone’s up in arms over it. And so, bottom line, focus on the consumer, bring the content, consumers will bring the dollars, and... we can go forward with everyone entertained and the industry in a healthy state,” Douglas adds.
Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.Canadian Prime Minister Justin Trudeau has been a mediocre, ineffective leader since coming to power in 2015. Every time you believe he’s reached the lowest depths of political incompetence, he finds a new way to sink even further into the muck. As fate would have it, the most unserious government in Canadian history has reached another new low.
Global Affairs Canada adjusted its international travel advisory this week to warn the LGBTQ+ community against supposed discrimination they may face inPhoto Illustration by Thomas Levinson/The Daily Beast/GettyRussia is still dealing with the fallout from the stunning demise of the head of Wagner Group, Yevgeny Prigozhin, and his associates, all of whom recently perished in a fiery plane crash.
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Hollywood strikes, subscriber churn, sports rights: Big media woesWarner Bros. Discovery (WBD) has named former BBC and New York Times executive Mark Thompson as its CEO. It comes at a time of great change for the media industry. Traditional media companies like Disney (DIS), Paramount (PARA), and Warner Bros. Discovery are seeing their cable businesses decline while they are investing a lot of money in their streaming businesses. Activate CEO Michael Wolf says all of these companies are trying to position themselves for the 'direct-to-consumer' future and, as a result, they will increase their spending on content. Several of the big streamers have started raising prices. Wolf says thinks that, in the future, viewers are going to 'churn in and out among these services, price might not be the reason that determines it. It's just more about the availability of programming on those networks and streaming services,' Wolf tells Yahoo Finance Live. When it comes to the Hollywood strikes, Wolf calls the timing of the strikes 'inopportune,' saying the 'profit pools for programming production are drying up' and that the 'revenue streams for these shows aren't necessarily settled.'
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How Cameo is benefiting from the Hollywood strikesAs the Hollywood strikes continue, celebrities have been turning to video message platform Cameo as a way to make money. Over 2,500 celebrities have joined or reactivated their accounts since July 14th, according to Cameo. “A few months before the strike, we actually struck a first-of-its-kind partnership, where the earnings that talent make from Cameo for business, actually accrue to their pension and healthcare benefits,” Cameo CEO Steven Galanis tells Yahoo Finance Live. “This has been really huge for” talent “to be able to come back to the Cameo platform, engage with their fans, and, you know, earn a living,” Galanis says. “Cameo has really become like a public utility in Hollywood. We’re there in the good times, we’re there in the bad times, and, you know, it really is a platform that matters,” Galanis adds.
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Hollywood strike, Yellow bankruptcy likely restrained US job growth in AugustU.S. job growth likely slowed in August, partly reflecting striking Hollywood actors and the bankruptcy of a major trucking company, but the unemployment rate probably held at more than 50-year lows as labor market conditions remain tight. There is a tendency for the initial nonfarm payrolls count to be weaker in August. As such, economists are cautioning against reading too much into any sharp deceleration in job gains when the Labor Department's publishes its closely watched employment report on Friday.
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Grayscale CEO Unsure if Firm Has to Refile With SEC for Spot Bitcoin ETFGrayscale Investments LLC Chief Executive Officer Michael Sonnenshein isn’t sure yet whether the firm needs to refile an application with the SEC to offer an ETF that invests directly in Bitcoin after winning a key dispute with the regulator.
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Amazon CEO tells employees to return to the office or their days may be numberedAmazon CEO Andy Jassy told employees to get on board with the company's return-to-office plan or to consider employment elsewhere, the company confirmed to CNN, after a report by Insider highlighted Jassy's remarks from a recent internal event.
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AI boom has brought us triple-digit growth: Hewlett Packard Enterprise CEOHewlett Packard Enterprise (HPE) reported third quarter results that topped Wall Street estimates, thanks in part to AI. Hewlett Packard Enterprise CEO Antonio Neri sat down with Yahoo Finance Executive Editor Brian Sozzi to discuss the company's results. Neri says IT is still a 'top priority for customers' despite 'uncertainty' in the macroeconomic environment. Neri called AI the 'star' of the quarter and that demand for his company's AI products has grown 'triple digits, no question.' 'We exit Q3 with the largest ever order book in our HPC and AI segment,' Neri tells Yahoo Finance Live. On the company's relationship with Nvidia (NVDA), Neri describes it as 'amazing' and that he is 'bullish' on what the companies can do together going forward.
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