TV, Film & Media Industry International News Roundup, Friday 9 August 2024
Seriesly Berlin reveals its lineup; Paramount cuts 15% of jobs; Lionsgate and ProSiebenSat.1 post mixed Q2 results; Disney, Warner Bros earnings contrast; SAG-AFTRA fights AI use in gaming.
Today’s Highlights:
Seriesly Berlin Reveals Conference Program—New Series Festival Seriesly Berlin announced the topics and speakers for its September conference, focusing on AI storytelling, genre exploration, flawed female characters, and more.
Paramount Global to Cut 15% of US Workforce—Paramount Global plans to reduce its US workforce by 15% by 2025 to save $500 million.
Lionsgate's Q2 Financial Performance - Lionsgate reported a reduced Q2 loss of $59 million, credited to cost-cutting and strong library content.
Starz to Exit Latin America - Lionsgate's Starz brand will exit the Latin American market by the end of the year as part of its strategic global focus.
ProSiebenSat.1's Strong Financial Results - ProSiebenSat.1 saw a 5% increase in Q2 revenues, with significant growth in streaming and TV advertising.
The CW Narrows Q2 Losses - The CW Network reduced losses by $33 million in Q2, with Nexstar's ad sales ticking up 2%.
Disney vs. Warner Bros. Discovery Earnings—Contrasting earnings reports show Disney's profitability, while Warner Bros. Discovery faces a $10 billion loss.
Endeavor's Strong Q2 Earnings - Endeavor reported robust growth in sports, events, and talent segments, highlighting its strong financial performance.
Vertical Short Films Gaining Popularity - The rise of vertical short films in Hollywood, catering to mobile consumption, is revolutionising content production.
SAG-AFTRA vs. AI in Video Game Strike - SAG-AFTRA's dispute with video game studios centres on actors' rights over AI-generated content.
Plus: News, Festivals, Insights, Executive Moves, In Development, Deals, Renewals, Events and Jobs with Paramount, ABC, Disney, Warners, Netflix, NBCUniversal & IDFA.
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NEWS
New Series Event Seriesly Berlin Reveals Conference Program
Seriesly Berlin, a new series festival, has announced the initial topics and speakers for its two-day conference on Sept. 16-17 at Fotografiska Berlin. The conference will cover subjects like storytelling in the age of AI, genre as a Trojan horse, flawed female characters, a person as property, and literary and podcast adaptations. The festival will also feature public screenings of new shows from Sept. 16-18. Director Eike Faecks emphasised the event's focus on building a diverse talent community and visionary decision-makers, avoiding typical industry conventions.
From: Variety
Paramount Global to cut 15% of US workforce in latest round of layoffs
Paramount Global will reduce its U.S. workforce by 15% to trim $500 million in costs by 2025. The layoffs will primarily impact marketing, communications, finance, legal, technology, and other support functions. This decision, announced during the Q2 earnings call, is part of a broader strategy to transform and streamline operations amid the evolving streaming landscape.
From: The Wrap
Lionsgate shrinks Q2 loss to $59 million despite box office slips
Lionsgate reported a reduced Q2 loss of $59 million, down from $119 million the previous year. Despite underperforming box office results, the company credits cost-cutting measures and strong library content performance for the improved financials. The studio's TV production segment also grew, contributing to better-than-expected results.
From: The Wrap
Lionsgate's Starz brand will exit Latin America by the end of the year
Lionsgate has announced that its Starz brand will exit the Latin American market by the end of the year. This strategic decision is part of the company's broader plan to focus on key markets and streamline operations, aiming to optimise its global content distribution and production strategy.
From: Señal News
Screen Alliance North, Women in Film and TV team up
Screen Alliance North and Women in Film and TV (WFTV) have partnered to support and promote women working in the film and television industry in the North of England. This collaboration aims to provide resources, networking opportunities, and professional development to enhance women’s visibility and careers in the industry.
From: World Screen
ProSiebenSat.1, German Television, Streaming Group, Sees Revenue and Profits Continue to Soar in Second Quarter of 2024
German media giant ProSiebenSat.1 reported a 5% increase in Q2 and first-half 2024 revenues, reaching €907 million ($991.4 million) and €1.7 billion ($1.9 billion), respectively. Joyn, the company's streaming platform, saw AVOD revenues jump 25%, with total viewing time up 38%. TV advertising revenues remained stable. The group's adjusted EBITDA rose 14% to €91 million in Q2 and 23% to €163 million for the first half, reflecting the impact of efficiency measures.
From: Variety
The CW Narrows Losses by $33 Million in Q2 as Nexstar Ad Sales Tick Up 2%
Nexstar reported its second-quarter 2024 earnings, showing that the CW Network has reduced its losses by $33 million. The company also saw ad sales rise by 2.2% compared to Q2 2023, reaching $522 million, with a $37 million year-over-year increase in political advertising to $45 million ahead of the upcoming presidential election. However, non-political ad sales dropped by $24 million. Distribution revenue grew by 5.5% for the quarter, totalling $734 million.
From: Variety
FESTIVALS
Tarsem Singh Unveils 4K Restoration of ‘The Fall,’ Discusses Creative Process and Plans for ‘The Cell’
Director Tarsem Singh has completed a 4K restoration of his 2006 film “The Fall,” reintroducing previously cut scenes and enhancing the overall viewing experience. The restored film, which follows an injured stuntman (Lee Pace) who tells an elaborate tale to a young girl (Catinca Untaru) in 1920s Los Angeles, will screen at the Locarno Film Festival. Singh initiated the restoration after fans expressed frustration over the film's limited availability, with some paying high prices to obtain it online.
From: Variety
Edinburgh Film Festival Director Paul Ridd on building his inaugural edition: “It’s a 77-year-old start-up”
Paul Ridd discusses the intense preparation for his first edition as director of the Edinburgh International Film Festival (EIFF), focusing on blending tradition with innovation. Ridd aims to honour the festival's rich history while introducing new elements, such as an international film lineup and industry events. The festival will feature screenings at venues close to the Edinburgh Fringe, emphasising collaboration across the arts.
From: Screen Daily
Indie execs talk inflation challenges and pale male reviewers at Locarno
At Locarno, indie executives discussed the impact of inflation on production costs and the ongoing issue of diversity among film reviewers, particularly the dominance of "pale male" perspectives. These challenges are reshaping the indie film landscape, with calls for more inclusive and financially sustainable practices to ensure a diverse range of voices and stories in the industry.
From: Screen Daily
Sundance winner 'Sujo' among San Sebastian’s Horizontes Latinos selection
José Luis Torres Leiva’s "When Clouds Hide The Shadow" will open San Sebastian’s Horizontes Latinos strand, including Celina Murga’s "The Freshly Cut Grass" as the closing film. The selection highlights outstanding Latin American cinema, featuring titles like Sundance winner "Sujo," underscoring the region's vibrant and diverse filmmaking talent.
From: Screen Daily
‘Transamazonia’ Debuts Trailer Ahead of World Premiere in Competition at Locarno Film Festival
The trailer for Pia Marais’ “Transamazonia” has been released ahead of its world premiere in competition at the Locarno Film Festival. The film, which will also have its North American premiere at the New York Film Festival, is being sold internationally by The Party Film Sales, with WME Independent handling North American rights. "Transamazonia" follows Rebecca, a miracle healer and daughter of a missionary, as they face escalating conflict with illegal loggers encroaching on indigenous lands in the Amazon.
From: Variety
Luca Guadagnino’s ‘Queer’ Set for U.S. Premiere at 2024 New York Film Festival
Luca Guadagnino’s film Queer, starring Daniel Craig and Drew Starkey, will have its U.S. premiere at the 2024 New York Film Festival as the Spotlight Gala on October 6, following its world premiere in the Venice competition. Based on William S. Burroughs’s novella, the drug-fueled gay romance has yet to secure a U.S. distributor. Still, it is expected to appear at the Toronto International Film Festival for its North American premiere. The film vividly captures the post-WWII era and Burroughs's unorthodox style.
From: IndieWire
TIFF Wavelengths Program Set With Films From Miguel Gomes, Roberto Minervini, Wang Bing & More
The 49th Toronto International Film Festival, presented by Rogers, has announced its Wavelengths and Classics sections. Wavelengths will feature 11 films, three short programs, and a special in-cinema-loop presentation showcasing works from established auteurs and emerging talent. Highlights include the North American premieres of Roberto Minervini's The Damned, Miguel Gomes' Grand Tour, and the completion of Wang Bing's documentary trilogy Youth. Additionally, Jessica Sarah Rinland's Collective Monologue and Trương Minh Quý's Viêt and Nam will also be featured.
From: Deadline
INSIGHTS
Rising Son
Serbian drama Volja sinovljeva (Son’s Will), set to air on Telekom Srbija, is an epic, post-apocalyptic adventure told in the style of folk poems. The eight-part series centres on Nikola, a gusle player, who narrates the tale of a small community's fight for freedom under their leader, Jovan, through sung poems. Inspired by Montenegrin captain Aleksandar Lesko Sajcic, the project evolved from a film into a TV series. Created by Strahinja Madžarević, Nemanja Ćeranić, and Miloš Avramović, it aims to inspire a new kind of television storytelling in Serbia.
From: Drama Quarterly
Disney vs Warner Bros Discovery: A tale of two earnings
Wednesday’s earnings calls highlighted stark contrasts between two entertainment giants. Warner Bros. Discovery reported a $10 billion quarterly net loss, including a $9.1 billion write-down on linear TV assets. In contrast, Disney celebrated a $47 million quarterly profit in its direct-to-consumer segment, bolstered by the success of Pixar's "Inside Out 2." While Disney appears to be catching up to streaming leader Netflix, Warner Bros. Discovery and CEO David Zaslav face a potential strategic overhaul, possibly involving selling the company or separating assets.
From: The Wrap
Endeavor reports strong Q2 2024 earnings
Endeavor reported strong Q2 2024 earnings, driven by robust growth in its sports, events, and talent segments. The company's financial performance highlights the success of its diverse portfolio despite challenges in other areas of the entertainment industry.
From: The Wrap
Pressman Films’ Sam Pressman on his vision for the future
The independent film studio Pressman Film, known for classics like "American Psycho," "Wall Street," "Badlands," and "The Crow," is venturing into TV production under the leadership of Edward R. Pressman's son, Sam Pressman. The studio has partnered with notable TV producers and writers, including Emmy winner Ernest Dickerson and Eric Overmyer. Sam Pressman, now CEO, discusses the studio’s TV ambitions and its eclectic mix of upcoming series.
From: World Screen
Vertical short films revolutionising Hollywood
"Forbidden Desires: Alpha’s Love" exemplifies the growing vertical series sector, featuring feature-length soap operas in 90-second increments for mobile consumption. These series typically involve werewolves, billionaires, CEOs, and vampires, with simple plots, nonsensical scripts, and varying acting quality. Female leads are clumsy with perfect hair, while male leads are brooding and wealthy. Apps hosting these series are increasing, with 30-40 projects shot monthly in Los Angeles. However, the genre faces criticism for its demanding shooting schedules, lack of diversity, and exploitation of struggling writers.
From: Rolling Stone
How Stephen Curry Got a Sitcom: Adam Pally and Ego Nwodim Talk ‘Mr. Throwback,’ Peacock’s Mockumentary Series About Defrauding an NBA Star
“The only premise I could ever really give to people for this show is it’s like if Christopher Guest directed ‘Uncut Gems,’” says Adam Pally, previewing his new series Mr. Throwback. The mockumentary follows Danny Grossman, a once-promising basketball prodigy dubbed the "Jewish Jordan," who takes on life-threatening mob debts. Forced to extract money from NBA star Stephen Curry through white lies, Danny's journey mirrors his alcoholic father's downfall. Now in debt and following in his father's footsteps, Danny must come up with $90,000 to save his life.
From: Variety
Tim Blake Nelson on Becoming a Veteran Boxer in ‘Bang Bang’ and Returning to the Marvel Cinematic Universe
“I always try to keep myself three or four months away from whatever physical manifestations a role will demand,” says Tim Blake Nelson. Nelson has embodied various characters, from an escaped convict in O Brother, Where Art Thou? to a villain in The Incredible Hulk and a paranoid police officer in Watchmen. “You’re an actor every day. You’re not just an actor when you’re working,” Nelson explains. His latest role is as aging boxer Bernard “Bang Bang” Rozyski, who trains his grandson while confronting his health issues and past demons.
From: The Hollywood Reporter
‘Ripley’ Casting Director Avy Kaufman on Collaborations with Steven Spielberg, Ang Lee and Fighting for Evan Peters
Casting director Avy Kaufman was initially sceptical when Steven Zaillian asked her to cast "Ripley," the Netflix series based on "The Talented Mr Ripley." Despite concerns about rebooting the story, Kaufman praised the final product, which earned 13 Emmy nominations, including one for casting. She has a long history with Zaillian, starting with "Searching for Bobby Fischer", and has won three Emmys. Kaufman values collaboration most in her work with directors.
From: Variety
The War for Laughs: Why Streamers Are Battling for Stand-Up Comics
Before the rise of streaming services, HBO, Comedy Central, and Showtime dominated the landscape. Comedians didn’t aim to make money from specials but saw them as advertisements for tours. Netflix changed this by offering significant income opportunities, quickly dominating with stars like Rock, Chappelle, and Schumer. By 2017, competitors like HBO conceded. Today, while Netflix remains a top buyer, paying from $200,000 to $20 million, the market has expanded, offering more options for comedians to achieve market value.
From: The Hollywood Reporter
On My Screen: Jamie Lee Curtis Reveals How She Was Cast On ‘The Bear’ & How ‘Columbo’ Changed Her Life
Jamie Lee Curtis felt destined to be in "The Bear" even before landing the role of Donna Berzatto, the unstable mother of the show's central siblings. Watching Season 1, she had an eerie premonition about playing the part. When her agent called with the offer, Curtis immediately contacted creator Christopher Storer about the character's appearance. Now, while filming the sequel to "Freaky Friday," Curtis reflects on her career, sharing how Peter Falk made her famous and offering her best advice.
From: Deadline
Edgar Pêra on Opening “Cyber-Pandora’s Box” for AI Movie ‘Telepathic Letters’ About Lovecraft, Pessoa
Artificial intelligence, including generative AI, is a key theme at the 77th Locarno Film Festival. Thursday sessions of the Locarno Pro industry program featured discussions on AI, and several films in the Locarno77 lineup, including the international competition led by Austrian auteur Jessica Hausner, address the topic. Portuguese filmmaker Edgar Pêra’s new movie, "Telepathic Letters (Cartas Telepáticas)," created with AI images, explores "invisible links" between authors H.P. Lovecraft and Fernando Pessoa, offering a visually and sonically unique experience.
From: The Hollywood Reporter
SAG-AFTRA vs. AI: Why the Video-Game Strike Impacts All Actors
SAG-AFTRA asserts that actors' rights should be consistent across film, TV, and video games, but video game studios disagree. The guild’s chief negotiator, Duncan Crabtree-Ireland, said, “If you want to use somebody’s image, voice, likeness, movements, or performance to create AI-based new content, you need their consent. You can’t own a person’s output.” This is the core of their dispute. Thousands of actors under SAG-AFTRA’s Interactive Media contract rely on gaming gigs to stay afloat between jobs and meet healthcare minimums.
From: IndieWire
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