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[wabbott]

https://www.yahoo.com/entertainment/t-lift-may-box-office-151334444.html

‘IF’ Can’t Lift May Box Office Out of Doldrums With $35 Million Opening
by Jeremy Fuster
Sun, May 19, 2024 at 10:13 AM CDT

Despite strong audience reception, Paramount’s “IF” isn’t pulling the early summer box office out of its streak of underperforming weekends, taking No. 1 with just a $35 million opening from 4,041 theaters.

Without a strong Marvel film supporting the market, overall grosses for the third weekend of May are estimated to take a 20% year-over-year drop to $99 million. While next weekend will see films like Warner Bros./Village Roadshow’s “Furiosa” and Sony’s “The Garfield Movie” hit screens, neither of those films are projected for an opening weekend of more than $50 million over four days.

In second place is Disney/20th Century’s “Kingdom of the Planet of the Apes,” which is holding fairly well with $26 million in its second weekend as it will cross the $100 million domestic mark on its second Sunday in theaters. It has dropped 56% from its $58.5 million opening weekend, a stronger hold than the 63% drop that “War for the Planet of the Apes” earned in 2017.

 

[wabbott]

https://variety.com/2024/film/box-o...anet-of-the-apes-global-milestone-1236009747/

May 19, 2024 - 1:31pm PDT
Box Office: ‘Kingdom of the Planet of the Apes’ Hits $237 Million Globally, ‘IF’ Nears $60 Million
by Rebecca Rubin

Disney and 20th Century’s “Kingdom of the Planet of the Apes” conquered the international box office again with $40.6 million in its second weekend of release.

So far, the fourth chapter in the “Apes” reboot franchise has generated $136 million overseas and $237 million globally. It currently stands as the fourth-highest grossing movie of the year, behind “Kung Fu Panda 4” ($533 million), “Godzilla x Kong: The New Empire” ($561 million) and “Dune: Part Two” ($710 million).

“Kingdom of the Planet of the Apes” cost $160 million to produce so it needs to keep swinging at the box office to justify its price tag. International ticket sales will be key in turning a profit in its theatrical run. Top overseas markets include China with $20.4 million, France with $13.8 million, Mexico with $12 million and the United Kingdom with $10 million.

 

[mdmost]

https://www.yahoo.com/entertainment/t-lift-may-box-office-151334444.html

‘IF’ Can’t Lift May Box Office Out of Doldrums With $35 Million Opening
by Jeremy Fuster
Sun, May 19, 2024 at 10:13 AM CDT

Despite strong audience reception, Paramount’s “IF” isn’t pulling the early summer box office out of its streak of underperforming weekends, taking No. 1 with just a $35 million opening from 4,041 theaters.

Without a strong Marvel film supporting the market, overall grosses for the third weekend of May are estimated to take a 20% year-over-year drop to $99 million. While next weekend will see films like Warner Bros./Village Roadshow’s “Furiosa” and Sony’s “The Garfield Movie” hit screens, neither of those films are projected for an opening weekend of more than $50 million over four days.

In second place is Disney/20th Century’s “Kingdom of the Planet of the Apes,” which is holding fairly well with $26 million in its second weekend as it will cross the $100 million domestic mark on its second Sunday in theaters. It has dropped 56% from its $58.5 million opening weekend, a stronger hold than the 63% drop that “War for the Planet of the Apes” earned in 2017.

Again, audiences claim to want original family entertainment but when it's an option, they don't support it. We'll support sequels and reboots but it doesn't appear we do that for original content any longer. We saw IF and it was really sweet. Remind me a bit of Hugo with not as strong a story.

 

[mdmost]

This is insanity. This effectively kills the movie in theaters.

https://twitter.com/x/status/1792558391979601924

 

[HokieRaven5]

This is insanity. This effectively kills the movie in theaters.

https://twitter.com/x/status/1792558391979601924

In the age of streaming direct sales and licensing to a Netflix/Prime Video/etc. is more lucrative than the box office

 

[clarker99]

This is insanity. This effectively kills the movie in theaters.

https://twitter.com/x/status/1792558391979601924

They need more revenue than the sparse distributions theatres will give. Got to save the quarter with whatever they can. Then can put it on Peacock and use Fall Guy as advertising and/or license.

 

[DeeBee3]

Again, audiences claim to want original family entertainment but when it's an option, they don't support it. We'll support sequels and reboots but it doesn't appear we do that for original content any longer. We saw IF and it was really sweet. Remind me a bit of Hugo with not as strong a story.

I think a lot of it is financial. If I were to take my kids to a matinee, they have a family rate (1 adults, 2 kids and the 1 other can be any) of $48.00. There is also a booking fee that takes the price to $55. If you were to add any snacks it's way higher.

I just don't think it's worth it. Maybe on a super hot or rainy day.

 

[RivShore]

I think a lot of it is financial. If I were to take my kids to a matinee, they have a family rate (1 adults, 2 kids and the 1 other can be any) of $48.00. There is also a booking fee that takes the price to $55. If you were to add any snacks it's way higher.

I just don't think it's worth it. Maybe on a super hot or rainy day.

Right, and unlike the old days, when if you didn't see it in theaters, you would have to wait a year+ for it to show up on DVD/HBO, you can now see it in a matter a few months (or weeks in the case of Fall Guy) in the comfort of your living room.

 

[wabbott]

https://www.latimes.com/entertainme...ffs-are-underway-about-175-jobs-are-being-cut

Pixar layoffs are underway. About 175 jobs are being cut

By Samantha Masunaga - Staff Writer
May 21, 2024 9:21 AM PDT

Walt Disney Co.-owned computer animation studio Pixar is laying off 14% of its staff, as it cuts back on the number of streaming series it produces.

The layoffs, which will affect about 175 employees, were signaled as far back as January. Reports then suggested that the studio could cut up to 20% of its staff. However, a person familiar with the matter, who was not authorized to comment, said at the time that those estimates were too high.

The cutbacks at Pixar come as the Walt Disney Co. has embarked on a major, company-wide cost-cutting effort stemming from the Burbank media and entertainment giant’s plan to stem losses from its streaming business and save money.

Emeryville, Calif.-based Pixar, in particular, has also struggled to break out of a pandemic-induced slump at the box office. While the storied computer animation studio known for “Toy Story,” “Finding Nemo” and “Up” once churned out hit after hit, its recent performance has been mediocre.

Animated films such as “Toy Story” spinoff “Lightyear,” released in 2022, was a disappointment at the box office, as was 2020’s “Onward.” Last year’s “Elemental” opened with weak ticket sales but managed to recover thanks to strong word-of-mouth reviews.

The studio has high hopes for “Inside Out 2,” a sequel to the 2015 hit that will come out this summer.

 

[wabbott]

https://www.yahoo.com/entertainment/ad-supported-streaming-took-huge-130000246.html

Ad-Supported Streaming Took a Huge Victory Lap at TV Upfronts 2024
by Lucas Manfredi
Tue, May 21, 2024 at 8:00 AM CDT

Some 18 months after major streamers Netflix and Disney+ launched ad tiers to boost revenues the experiment is clearly paying off — and is helping to accelerate the pivot for viewers away from traditional linear television.

But the big news was that about half of new sign-ups over the past year for Netflix, Max and Disney+ were on ad-supported plans, executives told TheWrap. Add to that the fact that Amazon converted all its Prime Video users to ad-supported in January by default and it’s easy to understand why the excitement this year revolved around growing efforts to pump up ad tiers.

In 2024, digital video in the U.S., which includes connected TV, social video and online video, is expected to generate an estimated $63 billion in ad spend and earn 52% of total share versus 48% for linear, according to a study by the International Advertising Bureau. Connected TV ad spend, which includes ad-supported streamers and virtual multichannel video program distributors like YouTube TV, exceeded $20 billion for the first time ever in 2023 and is projected to grow 12% to nearly $23 billion in 2024.

During last year’s upfronts, advertisers’ collective commitments to linear and streaming grew 3% year over year to $27.1 billion, according to Media Dynamics Inc, a firm which tracks upfronts spending. Primetime ad spending for linear television fell 5% year over year to $19.1 billion, with broadcast networks seeing a 3% drop to $9.6 billion and cable taking a 7% hit to $9.5 billion.

In comparison, streaming ad spend ballooned 31% year over year to $8 billion, wiping out all of linear’s losses.

 

[peder]

This is insanity. This effectively kills the movie in theaters.

https://twitter.com/x/status/1792558391979601924

Nah, it's usually just 24 hr rental options, and it's expensive. It's not like they're dropping it straight on Netflix.

They'll continue to tinker with this formula, but they're going to pick a route that increases revenue. I think they're trying to get folks to spend at the theaters, then a few weeks later rent on Amazon or Apple Music et al, then finally move the films to the Netflixes of the world. The studios think this is the best way to increase the size of the pie.

 

[Brocktoon]

Nah, it's usually just 24 hr rental options, and it's expensive. It's not like they're dropping it straight on Netflix.

They'll continue to tinker with this formula, but they're going to pick a route that increases revenue. I think they're trying to get folks to spend at the theaters, then a few weeks later rent on Amazon or Apple Music et al, then finally move the films to the Netflixes of the world. The studios think this is the best way to increase the size of the pie.

Fall Guy is Universal, so it'll probably end up on Peacock for the initial 10 months, and then over to Prime. I'm guessing it'll hit Peacock in time for Labor Day by the end of August.

 

[wabbott]

https://www.wsj.com/business/media/...a-age-doesnt-matter-63badbd1?mod=hp_lead_pos9

TV Networks Embrace Their Aging Audience With a New Mantra: Age Doesn’t Matter
With viewers in their 60s, networks aren’t pretending to have youth appeal; they’re touting the virtues of older audiences

By Isabella Simonetti and Joe Flint
May 22, 2024 - 5:30 am EDT

When executives at Warner Bros. Discovery took the stage at Madison Square Garden last week to give their annual pitch to advertisers, they boasted about who watches their cable TV channels.

Warner, owner of TNT, TBS, CNN, Food Network and HGTV, draws a “broad audience” of “desirable and unique viewers,” said top cable networks executive Kathleen Finch.

One thing she didn’t dwell on: how old the TV viewers are.

For years, media executives built their pitches to advertisers around the idea that they could reach younger audiences, with viewers 18 to 49 years old drawing a big premium and those 25 to 54 offering the greatest appeal to news advertisers.

But there is a hard reality these days: Most people watching TV are older than those groups. Among cable channels, the median age for TNT and Bravo viewers is 56, for HGTV it is 66, and even the once-youthful MTV’s median-age viewer is 51, according to Nielsen data. The cable news audience is even older, with MSNBC’s median age at 70, Fox News’s at 69 and CNN’s, 67. Among broadcasters, CBS’s median age is 64 and ABC’s is 66.

The goal for media companies is to make the most of the TV audience they do have—and cushion the blow of the industry’s decline.

For all the talk from media executives about how the age of viewers is now irrelevant—how reaching willing buyers is all that really matters to advertisers—the ad business has been slow to modernize. A lot of ad sales are still happening the old-fashioned way, with networks promising to reach viewers in particular age groups.

 

[wabbott]

https://finance.yahoo.com/news/disney-said-sell-stake-tata-144738455.html

Disney Said to Sell Stake in Tata’s $1 Billion India TV Platform
by Baiju Kalesh and P R Sanjai
Wed, May 22, 2024, 9:47 AM CDT

(Bloomberg) -- Walt Disney Co. has struck a deal to sell its minority stake in a subscription television broadcaster to Tata Group, people familiar with the matter said, allowing the US media giant to focus on the merger of its Indian unit with billionaire Mukesh Ambani’s media arm.

The transaction values Tata Play Ltd. at about $1 billion, the people said. Tata Group took full control of the TV platform after buying the 29.8% stake from Disney, said the people, who asked not to be identified as the information is private.

The deal came as the India’s media landscape is going through a major shakeup. Disney signed a binding agreement in late February to combine its India unit with Viacom 18 Media Pvt, creating an $8.5 billion entertainment giant that will have 750 million viewers and dominate the sector in the world’s populous country.

 

[clarker99]

https://www.latimes.com/entertainme...ffs-are-underway-about-175-jobs-are-being-cut

Pixar layoffs are underway. About 175 jobs are being cut

By Samantha Masunaga - Staff Writer
May 21, 2024 9:21 AM PDT

Just spit-balling here but with these Pixar job cuts, Pixar's Dis+ series content spend being cut along with less theatrical releases each year, it seems this will allow Pixar to maintain a larger budget on its 1 feature film each year?

Can we expect this sentiment across all the Disney owned studios or do we think feature film budgets get reduced?

 

[wabbott]

https://www.cnbc.com/2024/05/22/warner-bros-discovery-espn-college-football-playoff-deal.html

Warner Bros. Discovery and ESPN strike 5-year deal for College Football Playoff games

Published Wed, May 22 2024 - 4:30 PM EDT
by Alex Sherman@sherman4949

Key Points

• Warner Bros. Discovery’s TNT will carry two first-round College Football Playoff games this year and next year and two first-round games plus two quarterfinals games starting in 2026.
• Warner Bros. Discovery will also add the games to its Max sports tier.
• The NBA and Warner Bros. Discovery continue negotiations about whether live games will air on TNT and Max beyond the 2024-25 season.

 

[wabbott]

https://www.yahoo.com/entertainment/furiosa-garfield-won-t-save-130000529.html

‘Furiosa’ and ‘Garfield’ Won’t Save Theaters From a Bleak Memorial Day Weekend Box Office
by Jeremy Fuster
Thu, May 23, 2024 at 8:00 AM CDT

This year’s batch of Memorial Day weekend films, led by Warner Bros.’ “Furiosa: A Mad Max Saga” and Sony’s “The Garfield Movie,” may realize a solid return on investment for their studios. But it is highly unlikely they will save theaters from what is set to be the worst Memorial Day weekend box office in a quarter century.

Memorial Day weekend has historically served as the launch pad for some of the biggest summer hits in box office history, the most recent being Paramount’s record-breaking “Top Gun: Maverick” in 2022 which had a $160.5 million four-day domestic start. Last year, Disney’s remake of “The Little Mermaid” led the charts with a $118.8 million extended launch in North America.

“Furiosa,” George Miller’s fiery prequel to the 2015 Oscar winner “Mad Max: Fury Road,” isn’t going to get anywhere near that. While it is projected to be the No. 1 film this weekend, pre-release tracking has the movie earning a four-day start in the low $40 million range. “The Garfield Movie,” based on Jim Davis’ classic comic strip, is projected for a $30-35 million four-day start.