TV, Film & Media Industry International News Roundup, Monday 28 October 2024

California's tax credits expand; Inside Out 2 leads box office; Smile 2 tackles stardom’s toll; Depp’s Modi debuts; AI films shine; American Psycho remake planned; Rome Fest honours Bound In Heaven.

Today’s Highlights:

• California's Expanded Film & TV Tax Credits - Gov. Gavin Newsom proposes raising California's tax credit cap to retain Hollywood productions, intensifying state competition for industry projects.

• Patrick Walters' Dark Comedy "Sweetpea" - Patrick Walters adapts CJ Skuse's Sweetpea into a darkly comic series, exploring themes of identity and revenge.

• "Inside Out 2" Leads 2024 Box Office - Animated film Inside Out 2 outpaces horror, challenging the genre's box office dominance and illustrating varied audience preferences.

• European Streaming Platforms Excel—Glance highlights European streamers' success over global competitors through expansive content and unique formats beyond traditional catch-up models.

• Naomi Scott Stars in "Smile 2" Naomi Scott portrays a haunted pop star in Smile 2, which delves into mental health challenges and the pressures of stardom.

• Stavros Halkias' Indie Comedy "Let's Start a Cult"—Comedian Stavros Halkias bets on indie comedy with Let's Start a Cult, a bold venture that highlights his unique humour.

• Johnny Depp's Comeback with "Modi" - Johnny Depp continues his European revival, debuting Modi, a film about Amedeo Modigliani, at the Rome Film Festival.

• Hollywood's Culver Cup Explores AI - The Culver Cup showcases AI-driven short films, exploring generative AI's role in independent filmmaking amid industry debates.

• Rome Film Festival's Best Film Award—Bound In Heaven, directed by Huo Xin, won Best Film, marking its acclaimed debut at the Progressive Cinema Competition.

• Luca Guadagnino to Direct "American Psycho"—Luca Guadagnino is in talks to remake American Psycho with Lionsgate, adding a fresh perspective to the cult classic.

Plus: News, Insights, Festivals, In Development, Events and Jobs with ITV, Skydance & Prime.

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NEWS

California’s Tax Credit Expansion Aims to Bring Back Hollywood Productions

In response to a wave of productions leaving California for more lucrative tax credits, Gov. Gavin Newsom plans to raise the state's annual film and TV tax credit cap from $330 million to $750 million, promising up to $3.75 billion in credits over five years starting in 2025. California's subsidy would be second only to Georgia if approved, intensifying the nationwide competition for Hollywood productions. Read More

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INSIGHTS

Patrick Walters Brings "Sweetpea" to Life as Darkly Comic TV Series

Executive producer Patrick Walters sees his role as a protector of creative vision rather than an enforcer, a philosophy that aligns perfectly with his latest project, Sweetpea, based on CJ Skuse’s novel. The series stars Ella Purnell as Rhiannon, a repressed woman whose frustrations lead her from fantasy to real revenge after a string of personal betrayals. Mixing themes of identity and dark humour, Sweetpea serves as both gleeful wish fulfilment and a thought-provoking exploration of societal erasure and latent impulses. Read More

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Inside Out 2 Outpaces All 2024 Horror Films Combined at Box Office, Revealing the Genre's ROI vs. Appeal Paradox

Animated films like Inside Out 2 have eclipsed horror’s box office returns, challenging the view that high-ROI horror alone can sustain theatres or satisfy global audiences. The demand for diversity in genres remains, with animated and superhero films proving resilient in drawing audiences. Analysts highlight how animation’s global appeal contrasts with horror’s domestic reliance, noting the survival of mid-budget horror films is tied to theatres. Read More

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European Broadcasters’ Streamers Outshine Global Rivals in Content Depth, Says Glance Report

At Mipcom, Glance’s Frédéric Vaulpré highlighted how European broadcasters’ streaming platforms are surpassing global giants by offering expansive content, including live events, quizzes, and podcasts. These platforms, transitioning beyond mere catch-up services, now serve as 360-degree content hubs. Business models vary, with some platforms ad-free and others, like Germany’s ARD, featuring a subscription model to monetize popular series such as Tatort. Read More

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Naomi Scott Shines as Haunted Pop Icon in Horror Sequel "Smile 2"

2024 has spotlighted the mental health challenges of pop stardom, a theme that Smile 2 explores through Naomi Scott’s riveting portrayal of fictional pop star Skye Riley. Haunted by a deadly curse following a traumatic car crash, Riley struggles to relaunch her career amid hallucinations and reality-blurring nightmares. Scott, captivated by Parker Finn’s original Smile, found Riley’s complex character and supernatural turmoil an "irresistible challenge." Read More

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Stavros Halkias Bets Big on Indie Comedy with "Let’s Start a Cult"

In an era where raunchy comedies are rare, stand-up comic Stavros Halkias, known for his blunt humour on Stavvy’s World and Cum Town, is taking a chance with Let’s Start a Cult. Co-written and starring Halkias, the indie comedy follows Chip, a clueless cult member who, after missing his group’s suicide pact, decides to start his own dysfunctional following. Backed by Dark Sky Films, the project takes a bold, independent path that channels Halkias’s unfiltered humour. Read More

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Simone Biles Stuns at "Simone Biles Rising" Netflix Premiere, Inspires Young Fans

At the Simone Biles Rising premiere in Hollywood, Simone Biles received an enthusiastic welcome from young admirers who dream of following in her footsteps. Directed by Katie Walsh, the Netflix documentary showcases Biles’s journey as a champion, mental health advocate, and role model. Walsh praised Biles as "an icon and role model" who prioritizes well-being and resilience over external expectations. Read More

Johnny Depp Reflects on Moving Forward in Modi, Leaving Past Scandals Behind

Johnny Depp arrived late to the Rome Film Festival, missing a scheduled press conference for his new directorial effort, Modi: Three Days on the Wing of Madness. Despite controversies from past legal battles, Depp's European career revival continues, following his role as King Louis XV in Jeanne du Barry. Modi portrays three intense days of Italian artist Amedeo Modigliani’s life in Paris in 1916. Read More

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David O. Selznick’s Hollywood Legacy Meets Modern Streaming Realities in New Debate on Creative Control

In Hollywood's Golden Age, producers like David O. Selznick, Sam Goldwyn, and Darryl F. Zanuck controlled every detail, sending memos and directing filmmakers like George Cukor to “add pizzazz” to movies like Gone With The Wind. Imagine how they'd navigate today’s unruly influencer-driven market or Alfonso Cuarón’s nuanced series Disclaimer on Apple TV+, a complex, controversial mystery starring Cate Blanchett. Read More

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Will Packer Discusses New Series Fight Night, Career Insights, and AI's Potential Threat to Hollywood

Renowned producer Will Packer, known for Straight Outta Compton and the Ride Along series, spoke on the Most Innovative Companies podcast about his latest project, Fight Night, a 1970s Atlanta-set Peacock series starring Kevin Hart and Don Cheadle. He shared insights from his book Who Better Than You? The Art of Healthy Arrogance and Dreaming Big, and voiced concerns about AI's impact on Hollywood. Read More

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Hollywood’s Culver Cup Explores AI in Film Amid Industry Tensions

Following last year’s strikes over AI concerns, Hollywood hosted its first Culver Cup, an AI film competition backed by FBRC.AI and AWS, showcasing short films crafted with AI tools like Luma Dream Machine. Filmmakers experimented with generative AI to test its filmmaking potential despite challenges like visual artifacts. While Amazon MGM Studios avoided involvement, AWS emphasized the event as a glimpse into AI’s possibilities for indie creators. Read More