TV, Film & Media Industry International News Roundup, Wednesday 30 October 2024

DQ100 picks top shows; Venom’s box office drop; Peter Cushing AI debut; CA tax credit hike; studios’ $126B spend; Guadagnino in Oscar race; microdistribution gains; Blumhouse AI; Jackal reboot.

Today’s Highlights:

• DQ100's Show Picks and Trends: Highlights of notable new series and industry trends, including roles by Benjamin Wainwright, Tessa, and Sharon D Clarke, along with fresh narratives by directors like Ahmed Abdullahi.

• Venom: The Last Dance Opens Soft: Tom Hardy's final Venom film underperformed with a $51 million domestic opening, reflecting a broader decline in the superhero genre.

• Peter Cushing AI "Resurrection": Sky will digitally recreate the late Peter Cushing for Hammer: Heroes, Legends and Monsters, part of a recent trend of AI "resurrections."

• California's Film Tax Credit Expansion: California raises its film tax credit to $750 million to retain productions, though concerns remain over above-the-line exclusions.

• Major Studios' $126 Billion Content Investment: In 2024, major studios will invest $126 billion in content, focusing heavily on streaming and original programming.

• Luca Guadagnino's Queer Oscar Race Entry: Director Luca Guadagnino's Queer, starring Daniel Craig, joins the Oscar race with a complex, queer romance narrative.

• Microdistribution Success Stories: Films like The Graduates and Hundreds of Beavers thrive with grassroots, targeted screenings, marking success for microbudget films.

• Blumhouse's AI and Atomic Monster Merger: Jason Blum's collaboration with Meta on AI and Blumhouse's merger with Atomic Monster aims to expand creative output in horror.

• Day of the Jackal Reboot with Eddie Redmayne and Lashana Lynch: Redmayne and Lynch star in a Peacock reboot of The Day of the Jackal, reviving the classic espionage tale.

• Pobol y Cwm's 50th Anniversary: Celebrating five decades, Welsh-language soap Pobol y Cwm reaches a milestone as the longest-running show of its kind.

Plus: Insights, Executive Moves, Festivals & Markets, In Development, Deals and Jobs with WBD, BBC, Paramount, NBCUniversal, BAFTA, Netflix & Prime.

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INSIGHTS

Highlights from DQ100’s 2024/25 Show Picks and Trends in TV

DQ100’s latest edition explores notable actors, directors, writers, new series, and industry trends. Featured projects include Benjamin Wainwright in Maigret, Tessa’s debut in SOSU, and Sharon D Clarke’s dual roles in Mr Loverman and Ellis. Directors like Ahmed Abdullahi (A Life’s Worth) and writers like Lucy Coleman (Exposure) bring powerful new narratives. Emerging trends spotlight diversity champions like Supacell, access initiatives led by Julie Fernandez, and fresh takes on classic procedurals with Bergerac and Matlock. Pobol y Cwm celebrates its 50th anniversary as Welsh-language TV’s longest-running soap. Read More

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Venom: The Last Dance Opens Soft as Superhero Genre Faces Box Office Decline

Venom: The Last Dance, promoted as Tom Hardy’s final turn in Sony’s symbiote franchise, opened with $51 million domestically, marking a significant drop from prior films. This sluggish debut reflects a broader decline in superhero cinema, with 2023’s average grosses half of 2018-2019 levels. While Deadpool & Wolverine found success, most recent releases, like The Flash and The Marvels, struggled, indicating waning audience enthusiasm for the genre. Read More

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Peter Cushing to Be “Resurrected” by AI in Sky Documentary Hammer: Heroes, Legends and Monsters

This Halloween, Sky will honour iconic actor Peter Cushing, famed for his roles as Doctor Van Helsing and Baron Frankenstein, with an AI-generated appearance in Hammer: Heroes, Legends and Monsters. Airing in two days, the Skydoc will feature a “special homage” to Cushing, who passed away in 1994, as part of a tribute to Hammer film royalty. This follows Deep Fusion Films’ recent AI revival of late host Michael Parkinson for a podcast. Read More

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California’s Expanded Film Tax Credit Program Aims to Reverse Runaway Production

California’s film tax credit program, recently increased from $330 million to $750 million annually, seeks to attract more productions back to the state. Proposed adjustments include expanding qualifying expenses and raising individual subsidy caps. However, Ellen Goldsmith-Vein of Gotham Group notes the program’s success hinges on details, particularly incentives for above-the-line costs, which are currently excluded, unlike in competing regions. This gap has driven productions like Mission: Impossible abroad, where actor and director salaries qualify for tax relief. Read More

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Major Studios to Invest $126 Billion in Content in 2024, Ampere Analysis Forecasts

A new Ampere Analysis forecast reveals that Netflix, Disney, Comcast, Google, Warner Bros. Discovery, and Paramount are set to invest a record $126 billion in content in 2024, comprising 51% of total industry spend. Around $40 billion is projected for streaming services alone, while original content has represented 45% of total investment since 2022, totalling over $56 billion. Read More

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Luca Guadagnino’s Queer, Starring Daniel Craig, Joins Oscar Race with Challengers

Director Luca Guadagnino enters the Oscar race with two films this year, both penned by screenwriter Justin Kuritzkes. In Queer, adapted from William S. Burroughs’ novella, Best Actor frontrunner Daniel Craig stars as William Lee, a gay expatriate in 1940s Mexico City, drawn to Navy veteran Eugene Allerton (Drew Starkey). Their complex romance leads them to South America to pursue enlightenment through an ayahuasca journey. Read More

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Microdistribution Finds Success with Films Like The Graduates and Hundreds of Beavers

Producer Caryn Coleman embraces microdistribution but with a hands-on approach, screening her school-shooting drama The Graduates at select venues like NY’s Metrograph and LA’s Vidiots for impactful, “quality” viewings, especially for teen advocates. This model mirrors the grassroots success of Mike Cheslik’s Hundreds of Beavers, a silent black-and-white comedy that grossed over $700,000 after a festival tour and self-funded theatrical release, setting a benchmark for microbudget films. Read More

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Jason Blum Explores AI with Meta Partnership, Expands Blumhouse Strategy with Atomic Monster Merger

Jason Blum has partnered with Meta to explore AI-driven video tools, marking a new step for Blumhouse, the studio behind horror hits like Five Nights at Freddy’s and M3GAN. As horror competition rises, Blumhouse remains proactive, recently merging with James Wan’s Atomic Monster to boost production without sacrificing quality. Blum believes adding creators, not executives, is crucial in expanding output. Their first joint project, M3GAN 2.0, premieres next June. Read More

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Day of the Jackal Stars Eddie Redmayne and Lashana Lynch Share Their Cat & Mouse Dynamic

Oscar-winner Eddie Redmayne and Lashana Lynch lead The Day of the Jackal, a stylish reboot of the classic novel and film premiering Nov. 14 on Peacock. Redmayne plays a master assassin, "the Jackal," who is pursued by Lynch’s determined British intelligence officer. Their thrilling cat-and-mouse chase across Europe leaves a trail of chaos in this modernised espionage series.

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