TV, Film & Media Industry News Roundup, wednesday 17 July 2024

Paramount may sell Pluto TV; Warner Bros. layoffs; Disney hacked; Netflix growth; streaming record; Ora! Fest stars; NY Comedy headliners; TIFF opens with 'Nutcrackers'; Cuarón honoured.

Today’s Highlights:

• Paramount Global Considering Sale of Pluto TV: Paramount Global may sell it back to its co-founder, Tom Ryan. No valuations or offers have yet been exchanged.

• Warner Bros. Discovery Layoffs: Warner Bros. Discovery is initiating another round of layoffs affecting various departments, including Max, production, and finance.

• Disney Cybersecurity Incident: Disney has been hacked by the group Nullbulge, which claims to have over one terabyte of data, including internal communications and ad campaigns.

• Netflix Earnings and Growth: Netflix's shares have surged, with Wall Street analysts bullish despite an expected slowdown in second-quarter subscriber growth.

• Streaming Breaks Nielsen Record: Streaming accounted for 40.3% of total TV and streaming usage in June, setting a new record.

• International Film Festival Ora! Fest: The Ora! Fest in Italy will host international celebrities and focus on the environment, sustainability, youth, and social justice.

• New York Comedy Festival Headliners: The 20th anniversary New York Comedy Festival will feature over 200 comedians, including headliners like Judd Apatow and Tracy Morgan.

• David Gordon Green's 'Nutcrackers' to Open TIFF 2024: The Toronto International Film Festival will open with the premiere of David Gordon Green's "Nutcrackers" starring Ben Stiller.

• Alfonso Cuarón to Receive Locarno Film Festival Lifetime Achievement Award: Alfonso Cuarón will be honoured at Switzerland's 77th Locarno Film Festival.

• Pixar, Nickelodeon, and Netflix Among Collision Awards Winners: The Collision Awards recognised top animation and motion design work by Pixar, Nickelodeon, and Netflix.

Plus: News, Insights, In Development, Deals, Events & Jobs with Sheffield DocFest, Disney, Prime, Amazon MGM Studios, Sony, MUBI & Endeavor.

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NEWS

Paramount Global Has Discussed Selling Pluto TV Back to Co-Founder Tom Ryan

Paramount Global is considering selling Pluto TV to its co-founder, Tom Ryan. Discussions started before the Skydance deal, with no valuations or offers exchanged. Notably, despite its importance, which was highlighted by Skydance, Pluto TV was absent from Paramount's recent strategic plans. Financial details of Pluto TV remain unclear since its acquisition by Viacom in 2019. The potential sale's impact hinges on access to Paramount's content, crucial for Pluto TV's success.

From: Streaming Media Blog

Warner Bros. Discovery Starts New Round Of Layoffs

The fragile state of the film and television business continues, with another set of layoffs hitting the industry. Warner Bros. Discovery is implementing more cuts this week as part of ongoing cost-cutting measures. Layoffs affect various departments, including Max, production, business affairs, and finance. This follows last year’s significant layoffs that impacted network executives in the cable business. Insiders say this round is smaller and will affect small groups across different business areas. Notifications are being distributed throughout the week.

From: Deadline

Disney Hacked: Group Claims to Have Trove of Data, Company Investigating

The entertainment giant Disney has reportedly been the victim of a cybersecurity incident, with hackers claiming to have obtained over one terabyte of data from the company. The hacktivist group Nullbulge, which advocates for artists' rights and fair compensation, has claimed responsibility. The leaked data includes internal communications, images, logins, studio information, and ad campaigns, mainly from Slack. This incident follows a series of cyberattacks on media and telecom companies, including a data breach at Roku affecting over half a million accounts.

From: The Hollywood Reporter

Netflix Earnings Preview: Wall Street Is Bullish on Streaming’s “Default Choice”

Netflix shares have surged this year, up around 12 per cent since its first-quarter earnings report in mid-April and 41 per cent year-to-date, compared to a 17 per cent gain for the S&P 500. However, Netflix management has indicated that second-quarter subscriber growth will be below the 9.3 million ads in the first quarter. The company is likely to discuss the success of its second-quarter content slate, including series like "Ripley," "Eric," and "Supacell," as well as films like "Scoop" and "Rebel Moon — Part Two: The Scargiver." Wall Street analysts have raised stock price targets ahead of Thursday's earnings update. MoffettNathanson analysts increased their target by $35 to $565 and maintained a “neutral” rating.

From: The Hollywood Reporter

Streaming Just Broke Another Nielsen Record

In June, streaming accounted for 40.3 per cent of total TV and streaming usage, a new record since Nielsen launched The Gauge in May 2021. This surpasses the 40.1 per cent share cable had in June 2021, making streaming now bigger than cable was three years ago. Netflix was the big gainer in June 2024, growing its share by 0.8 basis points to 8.4 per cent of all TV usage, led by new “Bridgerton” episodes and the acquired Showtime series “Your Honor.” Amazon Prime Video and Peacock each saw a 0.1 share-point bump, while Max and Disney+ both gained 0.2 share points, with Max benefiting from “House of the Dragon.”

From: IndieWire

International Film Festival Ora! Fest To Host International Talents

The international film festival Ora! Fest, focused on the environment, sustainability, youth, and social justice, will host international celebrities in Trani, Italy, from September 25 to 29. Stars like Oscar-winner Sam Rockwell, Leslie Bibb, Rossy De Palma, and William Fichtner are expected to attend. Supported by the Puglia Region and the City of Trani, the festival is led by Giovanni De Blasio with artistic direction by Eva Basteiro-Bertolì and international curatorship by Silvia Bizio. Other guests include James Marsden, Matt Dillon, Marisa Tomei, and Raoul Bova. The event features the European premiere of "A Look Through His Lens" and talks with figures like Oscar-winner Mark Mangini. Environmental initiatives with ScartOff Aps and the Sylva Foundation will also be presented.

From: Señal News

Judd Apatow, Bill Maher, Tracy Morgan & JB Smoove Among New York Comedy Festival Headliners

The 20th anniversary New York Comedy Festival this November will feature over 200 comedians in more than 100 shows across the city. Headliners include Judd Apatow, Dave Attell, Bill Maher, Tracy Morgan, JB Smoove, and Jaboukie Young-White. The festival runs from November 8 to 17 and will occur in venues throughout the city’s five boroughs. Other notable performers include Jeff Arcuri, Zarna Garg, Gabriel Iglesias, Joe List, and Jimmy O. Yang. Launched in 2004, the NYCF is the largest and longest-running annual comedy festival in the U.S., bringing top comedians to prestigious venues like Carnegie Hall and the Beacon Theatre.

From: Deadline

David Gordon Green’s Ben Stiller-Starring Heartfelt Comedy ‘Nutcrackers’ Will Open TIFF 2024

This year’s Toronto International Film Festival will open with the world premiere of David Gordon Green's heartfelt comedy "Nutcrackers" on September 5. Known for films like "Stronger" and "Halloween," this marks Green's first time officially opening the festival. "Nutcrackers," starring Ben Stiller, Linda Cardellini, Edi Patterson, Tim Heidecker, and Toby Huss, signals a return to personal drama for Green. The film follows work-obsessed Mike (Stiller) as he becomes the caregiver for his rambunctious, orphaned nephews.

From: IndieWire

George Miller, Mandy Walker to Lead FilmLight Color Awards Jury

The FilmLight Color Awards have announced "Mad Max" director, writer, and producer George Miller as jury guest of honour and Oscar-nominated cinematographer Mandy Walker ("Elvis") as the jury president. These awards recognise outstanding feature and TV colourists and are presented annually at the international cinematography film festival EnergaCamerimage, held this year from November 16-23 in Torun, Poland. Miller stated, “Just as slow-drying oil-based paint allowed renaissance art practice to become more iterative, so have the digital tools of the colourist expanded the plasticity of each frame of moving image.”

From: Variety

Alfonso Cuarón to Receive Locarno Film Festival Lifetime Achievement Award

Oscar-winning Mexican filmmaker Alfonso Cuarón, known for "Gravity," "Harry Potter and the Prisoner of Azkaban," and "Roma," will receive a lifetime achievement award at the 77th edition of the Locarno Film Festival in Switzerland. He will be honoured on Sunday, Aug. 11, in the Swiss town’s Piazza Grande, following a panel conversation with him earlier in the day.

From: The Hollywood Reporter

Pixar, Nickelodeon and Netflix Among Animation and Motion Design Collision Awards Winners

The Collision Awards has announced the winners of its inaugural event, recognising Pixar, Nickelodeon, the American Museum of Natural History, Netflix, and Crunchyroll among the honorees. These awards celebrate the intersection of creativity and technical skills in animation and motion design across various categories, including marketing, communications, commercials, television, film, experiential, games, and XR. Presented by the organisers of the Telly Awards and partnered with Unreal Engine and VIEW Conference, the winners will be celebrated on July 23 with a screening and reception at the Elinor Bunin Munroe Film Center at Lincoln Center in New York.

From: Variety

Pedro Almodóvar’s ‘The Room Next Door,’ Starring Julianne Moore and Tilda Swinton, Eyeing Venice Film Festival Debut

Pedro Almodóvar’s first English-language film, "The Room Next Door," starring Julianne Moore and Tilda Swinton, is expected to premiere at the Venice Film Festival following his 2021 "Parallel Mothers." The film, set in New England, explores the lives of an imperfect mother and her resentful daughter, separated by a profound misunderstanding. Almodóvar’s latest work is also anticipated to compete at the festival.

From: Variety

Hudson Film Festival Reveals Lineup for Second Edition, with Aunjanue Ellis-Taylor, Zia Anger, and More

The Hudson Film Festival, now in its second year, has revealed its 2024 lineup, running from August 9-11. The program includes opening night feature "The Supremes At Earl’s All-You-Can-Eat" (Searchlight Pictures on Hulu), Sundance award-winning documentary "Daughters" (Netflix), "My First Film" (MUBI) from Zia Anger, Sundance Grand Jury Prize-winning documentary "A New Kind of Wilderness," free 15th-anniversary screening of Wes Anderson’s "Fantastic Mr. Fox," and Cannes award-winner "The Taste of Things" as the international spotlight feature.

From: IndieWire

INSIGHTS

PwC: Content Boom Has Halted

The global entertainment and media (E&M) industry reached a value of $2.8 trillion in 2023, a 5 per cent gain, with a projected 3.9 per cent compound annual growth rate (CAGR) over the next five years, reaching $3.4 trillion by 2028, according to PwC’s latest outlook. Advertising is a key growth area, with spending expected to top $1 trillion in 2026. Connected TV advertising is set to double from $20.5 billion in 2023 to $41.2 billion in 2028. PwC also highlights the need for companies to reinvent business models amid streaming service revenues’ plateau, with global subscriptions projected to reach 2.1 billion by 2028.

From: World Screen

Michael Mann’s New Website Provides a Rare Resource for Filmmakers and Fans

For over 40 years, Michael Mann has been a meticulous writer-director, creating classics like "Thief," "Manhunter," "The Last of the Mohicans," and "Heat." Cinephiles and filmmakers have long obsessed over his work and process, eagerly consuming his interviews and detailed supplementary features on physical media releases. The Michael Mann Archives offers a comprehensive online resource for his latest film, "Ferrari," drawing on the director's personal papers and behind-the-scenes footage to provide an in-depth view of his process from script to screen.

From: IndieWire

Nick Cave Calls His ‘Gladiator II' Script A 'Masterpiece' — Involved Time Portals, Christ and Vietnam War

Nick Cave's unmade "Gladiator II" script, described as a "masterpiece," involved Maximus returning from the dead through a portal. The story, called "Christ Killer," had Maximus sent by dying gods to kill a Christ-like figure on Earth. The plot spanned historical wars, culminating in a dramatic 20-minute battle. Despite Russell Crowe's initial interest, the project was shelved due to Crowe's disapproval.

From: World of Reel

Studio 1's Adrian Woolfe hopes to strike Lucky 13

Studio 1 co-founder Adrian Woolfe is launching "Lucky 13" on ABC, a game show where contestants answer 13 true or false questions to win $1 million. The concept, akin to "Millionaire," faced initial rejections but was revived with significant funding and pilot production. Partnering with ABC and filming in Las Vegas, Woolfe emphasises the show's simplicity and potential, aiming for a global reach while adapting to the challenging TV market.

From: C21

Abel Ferrara Writing Book About “All The Crazy Sh*t In This Business”; Talks Next Feature, AI & More – Taormina

Veteran filmmaker Abel Ferrara is working on a book titled "Scene" while prepping his next feature. Not exactly a memoir, Ferrara says, "I’m trying to focus it more on the people that I’ve met and all the crazy sh*t in this business and around this business than on myself." The book is set for release mid-next year in Italy and the U.S. Meanwhile, Ferrara prepares to shoot "American Nails" with Willem Dafoe and Asia Argento, a modernised gangster film based on Greek mythology’s Phaedra. Filming begins in September in Bari, Italy.

From: Deadline

Anthony Hopkins On Roman Emperors, Trump’s Hannibal Lecter Obsession, & Taking It All Too Seriously

“Now I am ready to become a god,” declares Anthony Hopkins as Emperor Vespasian in Roland Emmerich's "Those About to Die." As the ruler of Rome in 79 CE, Vespasian was effectively a god on Earth, making Hopkins' portrayal fitting for the esteemed 86-year-old actor. “It was a big, big production,” says Hopkins of the epic series launching July 18 on Peacock. “It’s good.” The 10-episode first season of "Those About to Die" coincides with Peacock's coverage of the Paris Olympics, highlighting the competition's power and prestige. Featuring Iwan Rheon, Gabriella Pession, and Sara Martins, the series offers a clear-eyed view of Rome's blood-soaked streets, sex, wealth, and power, with Hopkins at the centre.

From: Deadline

‘A Different Man’ Trailer: Sebastian Stan Dons Prosthetics for Surreal A24 Dark Comedy

Sebastian Stan takes on a meta and slightly Method role in “A Different Man.” Stan plays Edward, a struggling actor born with a facial disfigurement who undergoes an experimental treatment only to find life might have been easier as an outsider. Written and directed by Aaron Schimberg, the critically acclaimed dramedy debuted at Sundance 2024 and opened at New Directors/New Films. Stan, who also executive produces, won best actor at Berlin for his performance. The film co-stars Renate Reinsve and Adam Pearson.

From: IndieWire

How Ray J. Plans to build a Reality TV empire with a new venture

R&B singer and entrepreneur Ray J recently launched Tronix Network, a streaming platform aiming to push the boundaries of reality TV. Here, he discusses his ambitious plans for the network.

From: The Street

Unusual Suspect

Eagle Eye Drama’s Jo McGrath and writer Joy Wilkinson discuss Channel 4's thriller "Suspect," which features an innovative structure inspired by theatre. Each episode, like a mini-play, involves intense psychological drama. The second season focuses on Susannah (Anne-Marie Duff) trying to stop a murder after a disturbing confession from a client. The show’s unique format attracts top talent and offers gripping, fast-paced storytelling, appealing to both actors and viewers.

From: Drama Quarterly

The Task Ahead for the New U.K. Government – and Why the Culture Secretary Is Not “Minister for Fun”

There is hope as the UK’s entertainment industry adjusts to Prime Minister Keir Starmer’s new leadership. The Labour Party’s Creative Industries Sector Plan promises nationwide growth, better access to culture, diverse audiences, and enhanced creative education. However, the new Cabinet faces financial challenges due to Brexit, the Ukraine war, and pandemic effects. Despite past support, the Tories’ cuts and instability have strained the industry, contributing $26.5 billion to the UK economy in 2022.

From: The Hollywood Reporter

Durban Film Fest Opener ‘Legacy’ Explores How History of Oppression Led to Broken Promises of Post-Apartheid South Africa

Tara Moore’s “Legacy: The De-Colonized History of South Africa” opens the 45th Durban Intl—Film Festival on July 18. The South African-born, U.S.-based filmmaker tackles her homeland's brutal history as it marks 30 years of Black majority rule. The film explores the journey from colonialism to democracy, examining how systematic oppression of the Black majority shaped a modern nation still grappling with its promises.

From: Variety

4 Percent of Adults Have Never Heard of Netflix: Survey

A recent survey revealed that 4% of adults have never heard of Netflix despite its global popularity. The study highlighted the streaming giant's extensive reach, with 52% of U.S. adults currently subscribed and many others using the service through shared accounts. This statistic underscores Netflix's dominance in the entertainment industry while pointing out that a small segment of the population remains untouched by its influence.​

From: IndieWire

Why Natasha Lyonne Embraced Typecasting (Again) as a Stoner for Oscar Contender ‘His Three Daughters’

Azazel Jacobs’ New York drama “His Three Daughters” stars Carrie Coon, Natasha Lyonne, and Elizabeth Olsen as siblings convening in their childhood apartment to care for their dying father. Premiered at TIFF, it’s now a major Netflix awards contender, alongside “The Piano Lesson” and “Emilia Pérez.” The film captures poignant and poisonous family dynamics as Katie (Coon), Christina (Olsen), and Rachel (Lyonne) bicker over responsibilities and their father’s obituary in their Chinatown-adjacent apartment.

From: IndieWire