TV, Film & Media Industry International News Roundup, Weekend 9-10 November 2024
Paramount, Lionsgate, Sony earnings reveal streaming, industry challenges; UK TV reform; superhero fatigue; YouTube's TV rise; Reinsve in Armand; Nosferatu; niche SVODs; Yellowstone brand deals.
Today’s Highlights:
Paramount Global Q3 Earnings Reflect Streaming and Skydance Partnership Paramount reports profitability in its streaming unit, with Paramount+ adding 3.5 million subscribers, though a Q4 loss is expected. Paramount+ aims for domestic profitability by 2025.
Lionsgate Q3 Earnings: Streaming Revenue and Challenges Despite a $163 million loss, Lionsgate is optimistic about content diversification and financial discipline to navigate industry transitions.
Sony Pictures Q2 2024 Earnings: Strike-Related Challenges Sony sees a 39% profit decline, impacted by strike delays and programming costs, though broader corporate gains in the gaming and music sectors are noted.
UK Government Report on the Future of Linear TV and Streaming A government forum aims to address the future of traditional broadcasting, noting that 5% of UK households may still rely on linear TV by 2040.
Shift Away from Superhero Movies: New Genres on the Rise With superhero movies waning, Hollywood explores alternative genres, supported by shifting box office and streaming trends.
Direct-to-Consumer Pathways for TV Producers TV producers are urged to build direct audience relationships through YouTube to remain competitive in the evolving media landscape.
Armand Film Trailer Released Starring Renate Reinsve Norwegian thriller "Armand," featuring Cannes-winning actress Renate Reinsve, debuts to critical acclaim, marking her return to international film.
Nosferatu Update: Robert Eggers' Gothic Horror Film At a Focus Features screening event, Robert Eggers unveils "Nosferatu" with intense makeup and choreography, starring Lily-Rose Depp.
Niche Streaming Platforms Compete Amid SVOD Changes Data indicates that consumers choose fewer streaming subscriptions, challenging niche platforms to find a place in a competitive landscape.
"Yellowstone" Final Season Integrates Major Brand Partnerships "Yellowstone" integrates brands like Ram, Coors, and Fritos, capitalizing on the show's popularity for enhanced viewer engagement and marketing impact.
Plus: News, Insights, Executive Moves, Festivals & Markets, In Development, Deals and Jobs with ABC, WBD, Channel 4, NBCUniversal, Sony & Disney.
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NEWS
Paramount Global Q3 Earnings Reflect Streaming and Skydance Partnership Impact
Paramount Global reported a third-quarter profit in its streaming unit, marking the second consecutive quarter of direct-to-consumer profitability since announcing its sale to Skydance Media. CFO Naveen Chopra anticipates a Q4 loss due to content and marketing expenses, but Paramount+ is expected to reach domestic profitability by 2025. Paramount+ added 3.5 million subscribers, reaching 72 million, with revenue in the DTC segment up 10% to $1.86 billion. Total revenue growth was supported by a 25% increase in Paramount+ revenue. Read More
Lionsgate Reports Q3 Earnings Growth Amidst Strong Streaming Revenue
Lionsgate reported a third-quarter loss of $163 million, attributing the downturn to box office challenges and the ongoing effects of last year's industry strikes on its television sector. CEO Jon Feltheimer acknowledged the disappointing results, emphasising the necessity for strict financial discipline and diversified content strategies to navigate the industry's transitional period. He expressed confidence that a robust content lineup and the strong performance of Lionsgate's film and television library would steer the company back toward growth and enhanced shareholder value. Read More
Sony Pictures Entertainment’s Q2 2024 Earnings Highlight Challenges and Growth in Key Sectors
Sony Pictures Entertainment reported second-quarter profits of $124 million, a 39% decline from 2023, with revenue down 14% to $2.385 billion. Lower series deliveries due to Hollywood strike-related delays and increased programming costs in India impacted results. Theatrical revenue held steady, with It Ends with Us grossing $349.2 million globally and Venom: The Last Dance contributing $317 million. Sony projects recovery later this fiscal year, while the wider corporation saw gains in Games, Network Services, and Music, boosting overall net profit by 69%. Read More
UK Government DCMS Report Suggests Reform for Broadcasting in Streaming Era
The U.K. government has launched a forum to examine the future of linear TV, as new research indicates that some viewers may be left behind in the shift to streaming. Convened by media minister Stephanie Peacock, the working group includes Ofcom, broadcasters, and audience organizations. A report predicts 5% of U.K. households may still rely on traditional broadcasting by 2040. The forum will explore solutions to ensure accessible TV options for all, particularly older and rural viewers. Read More
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INSIGHTS
Nosferatu Update: Robert Eggers’ Take with Guillermo del Toro Producing
Focus Features revealed Robert Eggers' much-anticipated gothic horror "Nosferatu" in a special screening. During a Q&A with Guillermo del Toro, Eggers discussed key aspects like trained rats, six hours of monster makeup, and Lily-Rose Depp's dedication to her physically demanding role as Ellen Hutter. Depp's impressive body contortions were achieved with the help of Butoh choreographer Marie Gabriel Rotie, leading many to question if CGI was used. Read More
Superhero Movies Losing Relevance, Seven Genres Poised to Replace Them
In May, a disappointing box office performance for IP-driven films like The Fall Guy and Furiosa: A Mad Max Saga sparked debate on the appeal of sequels and reboots. Despite initial doubt, IP has since proven to be a box office boost in 2024. But with the superhero genre struggling recently, Hollywood faces pressure to identify the next big hit. While no single data-driven answer exists, box office and streaming trends offer valuable insights into emerging genres. Read More
Direct-to-Consumer Pathways for TV Producers
To thrive in today’s competitive media landscape, TV and film production companies must excel in storytelling, audience resonance, and efficient production. Yet, two newer priorities are emerging as crucial for long-term success: cultivating direct audience relationships and succeeding on YouTube. As YouTube gains dominance as a video platform, TV producers must embrace it strategically, especially since, as Evan Shapiro notes, it’s now “the biggest TV channel in America.” Building direct relationships with viewers offers defensive and offensive benefits, creating new revenue streams and audience loyalty that extend beyond traditional B2B marketing. Read More
Armand Trailer Unveiled Starring Renate Reinsve
Renate Reinsve, Cannes Best Actress for “The Worst Person in the World,” stars in the Norwegian thriller “Armand.” Directed by Halfdan Ullmann Tøndel, the film follows defamed actress Elisabeth navigating a parent-teacher meeting amid shocking allegations involving her son. Ellen Dorrit Petersen, Thea Lambrechts Vaulen, and Vera Veljovic co-star. “Armand” debuted at Cannes and has garnered critical acclaim. Reinsve previously made her American debut with “A Different Man.” Read More
UK & Ireland’s Emerging Auteurs Eye French Sales Agents for Global Reach
Emerging filmmakers from the UK and Ireland are increasingly collaborating with French sales agents to enhance their international reach. This strategic shift allows them to leverage the robust networks and support systems that French agents offer, facilitating broader distribution and visibility in global markets. Read More
Calculus Capital’s John Glencross on Investment Strategy for UK Production
Calculus Capital CEO John Glencross highlights his investment approach for UK production companies, focusing on growth potential and globally resonant, innovative content. Since launching the UK Creative Content EIS Fund in 2019, Calculus has backed firms like Raindog Films and Brouhaha Entertainment. Glencross sees these investments as potential acquisition targets by 2026, stating that companies with a strong track record in commercially successful content attract larger media corporations. Read More
Jack Thorne Advocates for Caution in Using the Term "Showrunner"
Jack Thorne, a prominent British playwright and screenwriter, has expressed reservations about the increasing adoption of the term "showrunner" in the UK television industry. He argues that this term, traditionally used in the U.S. to denote a writer-producer overseeing all aspects of a TV show, may not accurately reflect the collaborative nature of British television production. Thorne suggests that the term could oversimplify the diverse roles involved and potentially undermine the collective effort that characterises UK television creation. Read More
Independent Film Distributors Face Challenges in a Shifting Market
Jack Huston's directorial debut, the boxing drama “Day of the Fight,” received good reviews at Venice Film Festival. Despite the film's success, finding distribution was challenging due to it being a black-and-white period movie starring Michael Pitt. Huston partnered with the recently launched Falling Forward Films for a December 6 platform release, with support from new distributors aiming to fill gaps left by specialty distribs cutting back. Read More
Niche Streaming Platforms Aim for a Place in a Crowded Landscape
New data from Omdia reveals a shift in SVOD "stacking" behavior. Consumers are now more selective, opting for fewer subscriptions. Niche platforms like Flixxo, OUTtv, Qalbox, Acorn TV, and Kocowa must navigate this change to survive against giants like Netflix and Disney+. Read More
Firat Gulgen on Expanding Through Co-Productions
Calinos Entertainment launched "Hidden Garden" at Mipcom, a premium drama starring Ebru Sahin and Murat Yildirim. The show, produced by TMC Film, explores extraordinary love, loss, and buried secrets. Firat Gulgen, CEO of Calinos Entertainment, discussed the show's global potential and the company's international growth strategy. Read More
"Yellowstone" Integrates Major Brand Partnerships
When the final season of Yellowstone debuts on November 10, expect to see the Dutton family using Ram pickups, grabbing Coors Banquet, and Fritos. This highly-watched Taylor Sheridan drama has become a prime spot for brand integrations, custom content, and merchandising. Brands like Ram, Coors, and Fritos have partnered with the show, leveraging its popularity for broader marketing efforts, enhancing viewer engagement and brand recognition in the process. Read More
Putin Director Shares Insights on Guerrilla Filmmaking in Russia and AI Goals
Polish filmmaker Patryk Vega is promoting his AI-generated biopic of Vladimir Putin at the AFM and seeking US partners for future AI-supported projects through Aio Studios. The film, already sold to 35 countries and in discussions for more, is released in several European markets by Germany’s Kinostar and in the US by TriCoast. With a $15m budget, the film was shot over 18 months across multiple countries. Read More
Juror #2 Screenwriter Jonathan Abrams on Collaborating with Clint Eastwood
Growing up in San Francisco, screenwriter Jonathan Abrams admired Clint Eastwood as both a national and local icon. Eastwood's 2003 "Mystic River" inspired Abrams to blend genre demands with deeper storytelling in his script "Juror #2." Thrilled that Eastwood wanted to direct, Abrams appreciated his focus on a grounded narrative. Unlike typical twist-driven thrillers, "Juror #2" reveals the crime early, exploring moral and ethical complexities. Read More
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