More from Georg Szalai
Paramount Global Stock Gets Downgrade on “Growing Risk of Lower Advertising”
“Are we there yet? Anyone with young children knows how hearing this question over and over on a road trip can wear on even the calmest driver.” MoffettNathanson analyst Michael Nathanson’s Friday report started off like an account of a regular family summer holiday, only to then take a turn to focus on recession worries […]
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Disney+ Subscriber Forecast Cut by Analyst on Loss of Indian Cricket Rights
MoffettNathanson analyst Michael Nathanson has cut his global subscriber target for Walt Disney streamer Disney+ below the company’s 2024 target range, citing the recent loss of the streaming rights for Indian Premier League (IPL) Cricket to Viacom18. “We now expect the company to come in below its 230-260 million guidance with 213 million as Disney+ […]
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Verizon Loses 86,000 Video Subs in Second Quarter, Adds Broadband Users
Verizon lost 86,000 net pay TV subscribers for its Fios consumer video service in the second quarter, compared with a loss of 78,000 in the first quarter and a loss of 62,000 in the year-ago period, the telecom giant said Friday. The company has in the past often cited “the ongoing shift from traditional linear […]
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Warner Bros. Discovery, BT Sports Joint Venture Cleared by U.K. Competition Watchdog
Warner Bros. Discovery and BT Group on Friday welcomed the decision by U.K. regulators to approve their planned creation of a joint venture in the U.K. and Ireland. The Competition and Markets Authority (CMA) unveiled its decision to allow the deal Friday, saying: “The CMA has cleared the anticipated joint venture between Warner Bros. Discovery […]
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Wall Street Debates Netflix: Is the Worst Over Or Has Its Growth Stalled?
Netflix kicked off entertainment industry earnings season with a bang — and a lot of news — late Tuesday, with Wall Street analysts dissecting its second-quarter results, outlook and commentary overnight. After its shock first-quarter subscriber loss, the fact that the global streaming giant lost 970,000 subscribers instead of the predicted 2 million in the […]
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Hollywood’s Mirage Earnings Season: Fear That the Worst Isn’t Here Yet
It’s the economy, stupid. The phrase made famous in the 1992 presidential campaign could well be on Wall Street’s mind as entertainment giants report their second-quarter earnings in late July and August. After all, the upcoming quarterly results might not look so bad, as streaming hits like Stranger Things and Obi-Wan Kenobi respectively boost viewership […]
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Netflix Earnings Preview: Wall Street Expects Subscriber Drop and Detail About Its Ad Ambitions
Morgan Stanley’s Benjamin Swinburne likely won’t be the only one to reference the Kate Bush song featured in Netflix hit series Stranger Things as Wall Street prepares for the global streamer’s second-quarter earnings report on Tuesday. “Running Up That Hill,” the analyst titled his July 12 report, referencing the singer’s 1985 track that appeared in […]
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U.K.’s Channel 4 Is in “Most Robust” Financial Health Ever, CEO Says Amid Government’s Privatization Push
Channel 4 posted record full-year results on Friday, with CEO Alex Mahon touting them as evidence that the U.K. broadcaster was in a strong position. The news no doubt gives the network additional firepower as it fights against the U.K. government’s controversial plan to push for Channel 4’s privatization, of which Mahon, alongside with many […]
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Julianne Moore Named President of Venice Film Festival Jury
Julianne Moore is set to head up the 2022 Venice International Film Festival jury. The Oscar-winning actress was revealed as jury president of the 79th edition of the festival Friday, alongside an international assortment of fellow jurors that includes Argentinean director, writer and producer Mariano Cohn, whose last film Official Competition, starring Penelope Cruz and […]
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Legendary, Tobis to Form Joint Venture for German-Language TV Projects
Legendary Entertainment and Tobis, a German independent distributor and producer, have agreed to form a joint venture to “develop, produce and distribute premium German-language serial content.” The venture was unveiled on Thursday by Joshua Grode, CEO of Legendary, and Tobis principals Timm Oberwelland and Theo Gringel. The newly formed company will be based at Tobis’ […]
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Creator Network Trend Raises $3M From Investors Including Pharrell Williams (Exclusive)
Trend, a Miami Beach-headquartered company working to open up the creator economy by connecting brands, including Amazon, with creators of video and photo content, has raised $3 million in a pre-seed funding round led by venture capital firm Flybridge and including Pharrell Williams’ Black Ambition. Among the other investors in the curated creator network and […]
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Hipgnosis Songs Annual Revenue Jumps 25 Percent, Founder Touts Streaming Outlook Despite Economic Clouds
London-based Hipgnosis Songs Fund Ltd. said Thursday that revenue for its fiscal year ended March 31 jumped 24.7 percent, “partly due to the catalogue acquisitions during the period.” The song rights powerhouse, founded in 2018 by Merck Mercuriadis, a former music manager for the likes of Elton John, Beyoncé and Guns N’ Roses, reported annual revenue […]
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