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Paramount Pictures Opportunity ReportJune 25-July 7, 2017
Viacom Information
Paramount Information
Corporate
Executive
Deals & Projects
Litigation
Industry
Intelligence Services
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Viacom Information
PHYSICAL ADDRESS1515 BROADWAY, NEW YORK NEW YORK100368901 USA
DUNS: 615335358National Id: 203515052 (FEIN ‘Best Fit’)Telephone: 212-258-6000
Continent / Region: North AmericaMarketable Ind.: YesLegal Form: corporation
CORPORATE STRUCTUREImmediate Parent: VIACOM INC. USADomestic Ultimate Parent: VIACOM INC. USAGlobal Ultimate Parent: VIACOM INC. USAForeign Owned Ind.: No
BUSINESS SUMMARYEmployees Site: 170Employees Total: 9,200Sales US: $12,488,000,0001987 US SIC Code(s): 4841 7812NACE Code(s): 2232 9211SIC Description: Cable & other pay TV servicesBusiness Structure: HeadquartersYear Started: 2005Net Worth US: $4,330,000,000
EXECUTIVESWade DavisMichael D Fricklas, Executive Vice PresidentScott MillsKatherine Gill-CharestSamantha Cooper, Executive Vice PresidentDeena Demasi, Executive Vice PresidentNeil Holt, Vice PresidentNorman Tsacalis, Vice PresidentPatrick KennedyPaul Mottola, Vice PresidentPaul Sartain, Vice President
FAMILY TREEVIACOM INC. New York, USA
Paramount Pictures Corporation, Los AngelesSpike Cable Networks Inc, New YorkNickelodeon Online Inc, New YorkBellator Sport Worldwide Llc, Santa MonicaRed Devs Llc, New YorkBet Productions Iv, Llc, New YorkMtv Networks Enterprises Inc., New YorkMTV NETWORKS INC., New YorkNew Games Productions Inc., New YorkMtvi Group Inc, New YorkViacom Songs Inc., New YorkBlack Entertainment Television Llc, WAViacom Television Stations Inc, New YorkPop Culture Productions Inc, New YorkParamount Pictures Entertainment Canada IncViacom Holdings Italia Srl, Milano, ItalyViacom Receivables Funding I Corp, New YorkViacom Japan Inc, New YorkNickelodean Movies, Los AngelesParamount Communications Acquisition Corporation, NYCBS Broadcast International Asia Inc., Hong KongComedy Partners, New YorkViacom International Inc., New YorkParamount Canadian Productions Inc, New YorkViacom Satellite News Inc, New YorkViacom/Wsbk Inc, BostonViacom Stations Group, PhiladelphiaMtv Networks Latin America Inc, Miami BeachMTV Networks de México, S de R.L. de C.V., MEXICOViacom Overseas Holdings CV, CURACAOVIACOM PRODUCTIONS, INC., New YorkParamount Overseas Productions, Inc., Los AngelesVh1, New York
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Paramount Information
PHYSICAL ADDRESS5555 MELROSE AVE, LOS ANGELES, CALIFORNIA900383197 USA
DUNS: 006988802National Id: N/ATelephone: 323-956-5000
Continent / Region: North AmericaMarketable Ind.: YesLegal Form: corporation
CORPORATE STRUCTUREImmediate Parent: VIACOM INC. USADomestic Ultimate Parent: VIACOM INC. USAGlobal Ultimate Parent: VIACOM INC. USAForeign Owned Ind.: No
BUSINESS SUMMARYEmployees Site: 1,700Employees Total: 1,847Sales US: $326,842,2901987 US SIC Code(s): 7812 5099 4833 7829NACE Code(s): 2232 9211 5100 5110SIC Description: Motion picture & video productionBusiness Structure: HeadquartersYear Started: 1994Net Worth US: N/A
EXECUTIVESJim Gianopulos, Ceo-ChbRob MooreFrederick Huntsberry, Chief Operating OfficerAdam Goodman, PresidentMark BadagliaccaBarry SharmaBill ErlingCarla PenningtonCarmen DesiderioEric Saqui
FAMILY TREEParamount Pictures Corporation, Los Angeles
Offices: Burbank, Los Angeles, Santa Clarita, Miami, Fort Lauderdale, Culver City, Chicago, Hermosa Beach, Waxhaw, Dallas, Manheim, Sherman Oaks,Manhattan Beach, Canoga Park, San Juan, Tallahassee, Rogers, Atlanta, Charlotte, Pasadena, Boulder, West Palm Beach, Van Nuys, Billerica, Chatsworth, Owensboro
Paramount Home Entertainment Inc., Los AngelesScreenlife, Llc, SeattleParamount Production Support Inc, Burnaby, CANFuta B.v., Amsterdam, NetherlandsParamount Films B.v., Amsterdam, NetherlandsParamount Television Service, Inc, Los Angeles
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“Transformers: The Last Knight” Stalls at the Box Office. What Does It Mean for Viacom? Viacom has a new management team and is working on a turnaround, but plans to get more out of its movie division are facing an early setback as the latest “Transformers” movie fails to outshine earlier movies in the series. Fox Business on Jun 29, 2017
Paramount Network: A Guide to All the Programming (and Who’s Calling the Shots) Spike TV will become the Paramount Network in January as parent company Viacom looks to build out the former male-leaning cable network and turn it into a broad-skewing hub. The new network, unveiled in February, will launch with a mix of unscripted holdovers from Spike as well as scripted originals developed both at cable networks in the Viacom portfolio and specifically for Paramount Network. …The Hollywood Reporter breaks down all the programming set for Paramount Network and outlines the cabler’s executive structure ahead of its January 2018 debut. Hollywood Reporter on Jun 29, 2017
MTV News Shifts Toward Video, Targets Younger Audience MTV News is being restructured with an eye toward creating more video and short-form content for a younger audience, Variety has learned. The move comes seven months after Chris McCarthy was named president of MTV, and on the heels of a reorganization of the network’s linear-programming department. The transition will see resources shift from long-form journalism to the development of short-form video pieces. Among the most significant changes — MTV has reached an agreement with the Writers Guild of America East to represent MTV News staff members. As part of that agreement, MTV News is parting ways with fewer than a dozen staffers and several freelancers. The news division is in the process of hiring additional personnel to focus on video and short-form content. Variety on Jun 28, 2017
BET CEO Talks Programming, Competition and Her Complicated Feelings on Binge Watching With a presence in more than 75% of households with a television, BET, or as it’s formally known, Black Entertainment Television, is a prominent television network with programming geared toward an African-American audience. That programming consists of original and acquired television series as well as theatrically and direct-to-video-released films. The network also airs stand-up comedy shows, news, and current affairs specials. Formerly, BET aired mainstream rap, hip-hop and R&B music videos. Now, the channel is making strides into the original scripted programming foray and has a new late-night series coming soon. NY Observer on Jun 27, 2017
Viacom Wraps Its First Upfronts Under New Ad Sales Chief and CEO, With Single-Digit CPM Increases Viacom has changed considerably since last year’s upfront: The company has a new chairman and CEO (Robert Bakish), a new ad sales chief (Sean Moran) and a new directive to go at it alone and not recombine with CBS, as was expected for much of 2016. This year, the company also had a slightly less frenetic approach to finishing its upfront negotiations. While Viacom wrapped last year’s upfronts in mid-June, Moran took a bit more time this year as he brought his company across the upfront finish line for the first time. Across the portfolio, Viacom saw high single-digit CPM increases with positive volume growth. A person familiar with the negotiations said the new ad sales approach (intimate dinners vs. a splashy presentation) has paid off. Advertisers responded positively to the rebranding of Spike TV to the Paramount Network, as well as the continued success of Nickelodeon, this person said. Last year’s upfront haul included 8 percent CPM hikes and volume increases of 10 percent, which was double the 3 percent to 4 percent increases Viacom received in 2015. AdWeek on Jun 30, 2017
Corporate
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Viacom rebrands Nickelodeon into Nick in Germany again Viacom International Media Networks has renamed its children’s channel Nickelodeon into the short form Nick again in Germany, Austria and Switzerland. At the same time, a new on-air and off-air design has been introduced. “Nickelodeon has established itself as a children’s channel in the market in the past 12 years. Everyone knows Nickelodeon. Nickelodeon is the good friend, the sort of person you like to call by his nickname,” said Steffen Kottkamp, Director Kids & Family at Viacom International Media Networks. The umbrella brand will continue to be Nickelodeon. Broadband TV News on Jun 29, 2017
Google, Microsoft[, Viacom] among companies urging court to back gay workers Dozens of companies, including Alphabet Inc’s Google, Microsoft Corp, CBS Corp and Viacom Inc urged a federal appeals court on Monday to rule that a law banning sex discrimination in the workplace offers protections to gay employees. The brief submitted by 50 companies to the 2nd U.S. Circuit Court of Appeals in Manhattan marks the first time such a large group of businesses has backed arguments about employment discrimination that LGBT groups and the administration of former President Barack Obama have made for years. The companies said bias against gay employees is widespread, with more than 40 percent of gay workers reporting harassment and other forms of discrimination in various studies. The lack of a federal law clearly prohibiting discrimination on the basis of sexual orientation has hindered recruitment in states that have not adopted their own, the companies said. Reuters Top News on Jun 26, 2017
Intelliscape Video Analytics Identifies Passing Cars for Innovative Paramount Pictures Transformers 5, Promotional Campaign https://sr. Twitter on Jun 26, 2017
Corporate
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Executive
RT @Variety: It’s official: Viacom names Jim Gianopulos chairman and CEO of Paramount Pictures https://t.co/gCWytshqcI Twitter on Jun 24, 2017
Paramount’s Jim Gianopulos on Starting Over, His Fox Exit and Reviving a Struggling Studio - Hollywood Reporter https://t.co/S8Da8Unm0W Twitter on Jun 26, 2017
CMT President Brian Philips Leaves After 16 Years There’s been another shakeup at Viacom’s cable portfolio. CMT president Brian Philips is leaving after 16 years at the network, The Hollywood Reporter has confirmed. Philips announced his departure Thursday morning in an internal memo sent to staff. TV Land general manager Frank Tanki has been tapped to serve the same capacity at CMT and his duties will subsequently expand. Tanki was promoted to TV Land general manager in March after most recently serving as executive vp brand marketing and creative at Spike TV, which will rebrand as Paramount Network in the new year. For CMT, the change in leadership comes in the midst of the channel’s push into original scripted programming. Billboard News on Jun 29, 2017
Frank Tanki Named CMT General Manager In Addition To His TV Land GM Role Four months after Frank Tanki was named General Manager of TV Land , he also is being appointed General Manager of sibling CMT . The news follows the departure earlier today of long-time CMT president Brian Philips who stepped down after 16 years at the helm of the Viacom network. Tanki will oversee day-to-day operations at CMT including Programming, Marketing & Creative and Communications, and will work with CMT’s development team. Working from both the New York and Nashville offices, he will continue to report to Kevin Kay, President of Spike (soon to be Paramount Network), TV Land and CMT. The dual role for Tanki as GM of TV Land and CMT is indicative of the process of closer integration among Viacom networks in the realignment launched by new company CEO Bob Bakish earlier this year. In February, TV Land and CMT were moved from the Kids & Family Group to the Global Entertainment Group under Kay’s oversight. Deadline - Hollywood Breaking News on Jun 29, 2017
BET Networks Announces New Leadership Team, Michael D. Armstrong Named General Manager BET Networks has set a new executive leadership team, the Viacom-owned network announced Thursday. Michael D. Armstrong has been appointed general manager of BET Networks. Based in New York and reporting directly to BET Networks chairman and CEO Debra L. Lee, Armstrong will drive strategy and operations, with direct oversight of content strategy and multiplatform scheduling, marketing, corporate communications and operations. He will also liaise with teams across Viacom’s Media Networks, including strategy, finance and research and audience science. Programming, ad sales and digital will continue to report directly to Lee. Armstrong will officially transition from his current role as executive vice president and general manager of revenue and emerging brands for Viacom International Media Networks next month. In addition, Jeanine Liburd has been appointed chief marketing and communications officer, a new role at BET Networks. … She will oversee all facets of strategic and creative brand development, consumer marketing and cross-business initiatives. Finally, Donna Blackman will serve as senior vice president of business operations, acting as the liaison for all internal BET Networks departments with Viacom Media Networks shared services. She will be responsible for strategic and long-range planning processes, evaluating and establishing external partnerships, developing, monitoring and implementing financial strategies including growing ancillary revenue and live events. Liburd and Blackman will both report directly to Armstrong and are based in New York. Variety on Jun 29, 2017
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Executive
Jamie Edelstein, Cheryl Konieczko Upped To VPs At Nickelodeon Group Jamie Edelstein has been promoted to Vice President, Creative Operations, Advertising Project Management at Nickelodeon Group , while and Cheryl Konieczko has been elevated to Vice President, Franchise Creative Project Management. Edelstein and Konieczko continue to report to Eric Squires, Senior Vice President, Creative Operations and Project Management, Nickelodeon Group. In her new role, Edelstein will oversee the creative development and delivery of custom television, digital and print ads on behalf of Nickelodeon’s advertising and marketing partners Deadline - Hollywood Breaking News on Jul 5, 2017
Former Viacom Communications Chief Carl Folta Joins Abernathy MacGregor Former Viacom communications chief Carl Folta has joined Abernathy MacGregor as a senior counselor. Folta worked at Viacom for more than two decades, where he was seen as a key ally of media mogul Sumner Redstone and former Chairman Philippe Dauman. Folta was pushed out of the company last fall after Dauman lost a brutal corporate standoff that put Shari Redstone’s, Sumner’s daughter, firmly in control. He has deep ties to the business reporting community. Variety on Jul 6, 2017
Refinery29 Hires MTV Vet Joanna Bomberg as Head of Talent Refinery29, a digital media company focused on young female audiences, has hired Joanna Bomberg — who spent two decades at Viacom’s MTV — as senior VP and head of talent. In the newly created role at Refinery29, Bomberg leads talent initiatives across video and editorial programming and live events, overseeing the company’s talent division, Here & Now. Bomberg most recently was senior VP of MTV’s music and talent department. While at the MTV, she was part of the leadership team that managed creative direction and production of several of its biggest franchises including the MTV Video Music Awards, MTV Movie Awards, Unplugged, MTV documentaries, and the Artist to Watch campaign. Variety on Jun 29, 2017
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Nickelodeon enters esports as part of $15m funding round for Super League Gaming Super League Gaming has completed another successful funding round to the tune of $15m - and it marks the first esports activity from kids’ broadcaster Nickelodeon. While Super League Gaming organises tournaments around the usual, popular esports titles such as League of Legends, it also specialises in more kid-friendly events such as Minecraft competitions - something that helped secure the interest and funding of Nickelodeon. “We are excited to enter the world of esports through our relationship with Super League, which has a loyal and growing fan base of kids,” said Nickelodeon’s EVP of digital and new business Matthew Evans. “Nickelodeon is interested in esports because gaming is an important passion point for kids today, and forging this partnership with Super League puts us at the forefront of where kids will be playing next.” Games Industry News on Jun 29, 2017
Viacom debuts French MTV channel on Snapchat Discover Viacom’s MTV has launched a new localized Publisher Story on Snapchat’s Discover platform in France. Joining MTV’s international and US Snapchat Discover channels, this is Viacom’s first fully localised, non-English channel to debut on Snapchat Discover. MTV is the first television channel in France to join Snapchat Discover, offering French Snapchatters exclusive, localised “Snaps” updated daily combining video and editorial news. To ensure a steady stream of fresh pop culture content featuring fans’ favourite artists, celebrities and MTV content, a team in France will produce Publisher Stories for the platform, in partnership with colleagues based in London and in New York.Broadband TV News on Jun 30, 2017
Paramount theme park split in Kent had been on the cards for ‘some months’ as studio’s resort plans in doubt around the world Paramount Pictures and the developers of a theme park in Kent had been on the verge of going their separate ways for several months before finally announcing a split. The announcement sent shockwaves through the county and prompted some politicians to claim there is “a big question mark over the viability of the project”, which it is claimed would create 27,000 jobs. London Resort Company Holdings (LRCH), which first revealed plans for the £3.2bn resort in 2012, said cutting ties with the Hollywood giant would not affect its goal to submit a planning application in November – with an opening scheduled for 2022. Industry insiders say the split had been expected for some time as Paramount has been reviewing its theme park strategy generally. It pulled out of plans for a theme park in South Korea in 2015 due to a downturn in the country’s economy. Weeks before its split with LRCH, Murcia Today reported that plans for a Paramount resort in Spain were “finally laid to rest” after the High Court of Murcia said its proposed site encroached on protected land. Kent Online Business on Jul 3, 2017
No approved plans for Nickelodeon theme park in Coron—DOT The [Philippine] Department of Tourism (DOT) has not approved plans for the construction of the controversial undersea-themed Nickelodeon park in Coron, Palawan, saying environment groups are opposed to the project. In a statement … DOT Secretary Wanda Teo reiterated that the facility would first have to gain “crucial approvals” from the Department of Environment and Natural Resources (DENR) and the Palawan local government. … The Secretary said her initial positive response on the project, proposed by the Coral World Park Undersea Resorts Inc. and Nickelodeon’s parent company Viacom Inc. was “part of [my] job to encourage investment in new Philippine tourism projects” but added that this did not at all signify that she was throwing her support behind the project.Inquire Philippine News on Jun 29, 2017
Viacom Teams With Indigenous Media To Promote Paramount Network Shows Viacom it turning to digital producer Indigenous Media to help generate some buzz around Paramount Network — the new incarnation for Spike planned for early 2018. The entertainment giant’s Viacom Velocity marketing arm will team with Indigenous to produce versions of its 60 Second Docs that promote Paramount Network shows. Deadline - Hollywood Breaking News on Jun 27, 2017
Deals & Projects
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Litigation
Viacom Says It Can’t Be Held Responsible for TV Star’s Sexual Assault The alleged sexual misconduct that briefly shut down production of ABC’s Bachelor in Paradise has provoked no public litigation thus far. And so, observers will be left guessing how Warner Bros. TV might have attempted to fend off potential claims from BIP contestants, Corinne Olympios and DeMario Jackson, over what happened on the first day of shooting. Might the studio have raised First Amendment arguments, turned to a cast contract disclaiming responsibility for “unwelcome/unlawful contact or other interaction among participants,” or argued that it had not proximately caused any assault? Perhaps. Maybe a dispute involving Jayceon Taylor, the hip-hop star known as “The Game,” can help answer legal questions. Priscilla Rainey, who was cast to be a love interest on the VH1 reality show She’s Got Game, alleges she was sexually assaulted by Taylor during an “afterhours date.” She sued for battery and testified that Taylor was highly intoxicated when the two went to a Chicago-area nightclub and he forcefully reached his hands inside her dress to rub her. After a trial last November, she scored a $7.1 million verdict. Now, in a twist, Taylor is suing Viacom, alleging the media company owed him a duty of reasonable care to ensure that the contestants were fit and suitable for participation. In other words, the rapper blames Viacom for what happened. Last week, Viacom brought a motion to strike Taylor’s complaint and raises some of the very defenses highlighted above.Hollywood Reporter - Business on Jul 3, 2017
Ex-BET President Wants Out Of Gender Bias Suit A former top television executive at Black Entertainment Television LLC asked a California federal court Friday to toss gender bias claims made against him by a female executive under Title VII and California’s Fair Employment & Housing Act, saying those statutes don’t impart individual liability for discrimination on supervisors. Stephen Hill, the one-time president of programming at BET, which is owned by Viacom Inc., said all claims made against him by Zola Mashariki, a former executive vice president and head of original programming, should be tossed[.] Law360 - Media & Entertainment on Jun 26, 2017
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Industry
Hollywood buys stability through labor deals Hollywood’s talent guilds have long fretted about leaving money on the table in negotiations with studios. Many remember when they failed to recognize the early value of DVDs, thus not fully sharing in that bounty. This year, however, they came armed with perhaps greater leverage than usual, as studios seemed to accept that in a time of inordinate and fast-paced change, there are benefits associated with stability. SAG-AFTRA, which represents actors and performers, agreed to a new three-year contract Tuesday, one that in many respects mirrors gains recorded by the Directors Guild of America and Writers Guild. (Although parts of all three contracts overlap, there are concerns unique to each of the groups.) Yet while writers’ and actors’ negotiations went down to the wire -- and indeed, even past their deadlines -- there was a sense after the former that the entertainment industry’s conglomerates were eager to avoid the uncertainty that goes with a strike. In the past, that hasn’t always demonstrably been the case. At times, the studios have sought to send a message to talent, one predicated on the fact that they can withstand the pain of a work stoppage longer, and have more tools -- including unscripted television shows -- to weather the pain associated with one. CNN Entertainment News on Jul 5, 2017
Facebook is ready to drop as much as $3 million an episode on TV-style shows (FB) Facebook is gearing up to announce its first slate of TV-like shows this summer, and the company could spend up to $3 million an episode, according to The Wall Street Journal, putting spending in the range of marquee cable networks, and tech rivals like Netflix. Facebook has been prepping its push into TV-style programming for quite some time, following YouTube, Netflix, Amazon, and others into the premium streaming market. But Facebook has delayed the effort multiple times already. Facebook initially wanted to unveil its shows around its developer conference in mid-April, then in time for the Cannes Lions advertising festival, which started June 17. Neither of those dates happened. Now a person familiar with Facebook’s strategy tells Business Insider that Facebook is aiming for a July announcement, though the shows might not make their way into the wild until August — and the release could be delayed again. Business Insider UK on Jun 26, 2017
Analysts Laugh Off Rumored Verizon Acquisition of Disney - Over the weekend, the New York Post reported that rumors were circulating that Verizon was considering a Disney acquisition. According to the report, Verizon’s interested in such a move to counter Comcast’s 2011 acquisition of NBC Universal, and AT&T’s looming $89 billion acquisition of Time Warner. It’s part of a trend among large ISPs that face slowing broadband growth, but want to continue to deliver quarterly earnings growth to investors. And while a Disney acquisition makes sense in that context for Verizon, the only source cited in the story is one, solitary, “well placed banker”[.] …Numerous industry analysts however were quick to downplay the deal, noting that Disney’s estimated value is $168 billion and would saddle Verizon with so much debt as to be impractical. Broadband - DSL Reports News on Jul 5, 2017
Studios’ Foreign Sales Turn Box-Office Kryptonite Into Winners The duds just keep coming this summer in North America, from “The Mummy” to “Alien: Covenant” to “Pirates of the Caribbean: Dead Men Tell No Tales.” The season has been what critics politely call lackluster for Hollywood studios -- but don’t expect them to stop churning out more bombs. That’s because as badly as so many franchise films and reboots have done in the world’s biggest cinema market, they’ve racked up solid ticket sales elsewhere. Theater-goers in America thought Paramount Pictures’ fifth “Transformers” was pretty much a yawner, but in China they liked it. And No. 6 is already in the works. “Look at the casualties just this summer,” said Paul Dergarabedian, a Los Angeles-based analyst for ComScore Inc. “If they only had North America, it would be a monumental disaster for the studios.” For now at least, the rest of the world -- China in particular -- is supporting Hollywood’s love
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Industry
affair with series, sequels and rehashes like “The Mummy,” Universal Pictures’ new take on a story that’s been told dozens of times. The risk is that sequel fatigue will set in overseas too. Chinese moviegoers are becoming more choosy, and the fastest-growing film market is slowing down. That’s a challenge for studios such as Walt Disney Co. and Time Warner Inc.’s Warner Bros., which plan and schedule movies years in advance. Bloomberg News on Jul 5, 2017
Hollywood Endings Not Enough to Rescue China Box-Office Growth China’s box-office receipts fell last month as Hollywood blockbusters failed to compensate for poor showings by local films. June movie ticket sales dropped 5 percent to 25.5 billion yuan ($3.8 billion), according to data from online ticketing app and tracker Maoyan.com. Revenue rose 3.7 percent in the first half, well below the more than 35 percent a year average for the five years before 2016. Bloomberg News on Jul 3, 2017
Hollywood Is Auditing China’s Box-Office for First Time The lobbying group for Hollywood’s top studios is auditing China’s box-office figures amid concern that ticket sales have been reported inaccurately, according to a person familiar with the matter. The Motion Picture Association of America, which represents the six major studios, hired an accounting firm to audit sales of selected films for the first time, said the person, who asked not to be identified as the matter is private. The results may come as soon as the third quarter, the person said. Results of the audit are important for major Hollywood studios such as Walt Disney Co. and Viacom Inc.’s Paramount Pictures because hundreds of cases of revenue misreporting have been documented in China. In revenue-sharing deals, studios receive 25 percent of box-office sales, so getting accurate figures is vital. Bloomberg News on Jun 27, 2017
MORGAN STANLEY: The ‘desperation level in Hollywood’ has reached new highs Film studio profits have been suffering in recent years, and the “desperation level in Hollywood” has reached new highs, according to a new research note from Morgan Stanley. Hard times and thin margins could result in a major push toward a service called “premium video on demand” — streaming newly released movies at home for a higher fee in lieu of visiting the cinema — that may boost profits at studios but would likely harm movie theater operators, according to the bank. Just how bad is it for film studios right now? Despite the gaudy, billion-dollar global box office figures, most of Hollywood isn’t earning huge profits, thanks in part to the onslaught of streamable, high-quality TV content. The Business Insider - The Wire on Jul 6, 2017
NBC’s ‘Timeless’ Relocating Production to California to Receive Tax Credit NBC’s drama “Timeless” is shifting production for its second season from Vancouver to California — the 12th TV series to relocate, to receive the state’s production tax credit. “Timeless” has been conditionally approved to receive a $9.9 million production tax credit from the state. The California Film Commission announced the move Thursday and said the series would employ approximately 250 cast, 220 crew and 3000 extras and spend nearly $40 million in wages to below-the-line workers and payments to in-state vendors. Variety on Jun 29, 2017
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Industry
U.K. Pushes Back on Fox Takeover of Sky, Leans to Extra Review Rupert Murdoch faces drawn-out negotiations with U.K. regulators in his effort to take full control of Sky Plc for 11.7 billion pounds ($15.2 billion) after the government said it intended to refer the bid back for additional review unless 21st Century Fox Inc. offers steeper concessions. The U.K. is inclined to refer the offer to the Competition and Markets Authority for a deeper investigation, Culture Secretary Karen Bradley said Thursday. However, she left the door open for a resolution by July 14 that would avoid a CMA review, if Fox strengthens proposals it’s made to ensure editorial independence at Sky News. Bloomberg News on Jun 29, 2017
With ‘Valerian’ Looming, EuropaCorp Posts Record Losses of $135 Million Luc Besson’s EuropaCorp has posted record losses of 119.9 million euros ($135 million) during the fiscal year ending March 31, driven by a series of English-language flops and its costly U.S. distribution operations. The 17-year-old film studio released its financial results Wednesday, just weeks before the opening of its enormously expensive sci-fi thriller “Valerian and the City of a Thousand Planets,” which EuropaCorp desperately needs to be a hit. Variety on Jun 28, 2017
Vimeo Scraps Plans For SVOD Service “Vimeo has confirmed that it has decided not to proceed in offering a subscription-based original program service scheduled to begin in ’18,” a spokesperson for the video-streaming service, owned by Barry Diller’s IAC, said in a statement. The news comes just three months after Vimeo hired Alana Mayo, previously VP Production at Paramount Pictures, as VP and head of original development. Deadline - Hollywood Breaking News on Jun 26, 2017
NBCUniversal Names Lee Raftery U.K. Channels Chief Lee Raftery has been promoted at NBCUniversal to run the studio’s channels in the U.K. and emerging markets, and has been named chief marketing and content officer across international. NBCU channels across the territories that Raftery will oversee include Universal, Syfy, E! Entertainment Television, Movies 24, Telemundo, Studio Universal and 13th Street. In his new role, Raftery succeeds Colin McLeod, who left earlier this year after more than a decade in the post. Variety on Jul 7, 2017
Fox’s Beth Miyares Joins Morgan Freeman & Lori McCreary’s Revelations Entertainment As Head Of Scripted TV Veteran TV development executive Beth Miyares, most recently SVP Drama Development and Production at Fox Broadcasting, has joined Morgan Freeman and Lori McCreary’s Revelations Entertainment as EVP Scripted Television. This is a newly created position at the CBS TV Studios-based company behind the CBS/CBS Studios drama series Madam Secretary as it is looking to ramp up its scripted slate. Deadline - Hollywood Breaking News on Jun 26, 2017
ITV Studios America Adds Jed Valdecantos & Jim Dietle To Exec Team ITV Studios America is expanding its executive team with the hires of Jed Valdecantos as VP Scripted TV Development and Jim Dietle as VP Business and Legal Affairs. Based at the company’s Los Angeles headquarters, Valdecantos will report to EVP Creative Affairs Michael Azzolino, and Dietle will report to Tom Lane, EVP Business and Legal Affairs. Valdecantos, who will share responsibility for overseeing the company’s development roster, most recently was Director of Original Scripted Programming at USA Network. Deadline - Hollywood Breaking News on Jun 28, 2017
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‘Hawaii Five-0’ Star Exits Spark Asian-American Concern: “Racial Hierarchy” Remains “Intact” Members of Hollywood’s small but vocal Asian-American community are speaking out in support of former Hawaii Five-0 stars Daniel Dae Kim and Grace Park, who have left the series after failed contract negotiations with CBS and CBS Television Studios. “Unfortunately, the racial hierarchy established in the original 1968-1980 series remained intact in the 2010 reboot: Two white stars on top, two Asian/Pacific Islander stars on bottom,” Guy Aoki, founding president of Media Action Network for Asian Americans, wrote in a statement to The Hollywood Reporter. News of Kim’s and Park’s departures broke Friday before the Independence Day holiday, with sources confirming to THR that Kim and Park had requested and been denied pay equity alongside fellow original castmembers Alex O’Loughlin and Scott Caan. … “The studio apparently didn’t think the two Asian leads were quite as worthwhile as the two white dudes,” wrote Phil Yu of the influential blog Angry Asian Man. Hollywood Reporter - Live Feed on Jul 6, 2017
