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Universal Music Files $75M Lawsuit Against Amazon-Backed AI Firm for Ripping Off Rolling Stones, Beyoncé Lyrics
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Business
Netflix “in the Sports Business” But Still Not Interested in Live Games
Co-CEO Ted Sarandos says the streamer is leaning into the "drama" of athletic competitions with its docuseries.
By Rick Porter -
Business
Netflix’s Ted Sarandos: More Streaming Data Transparency Is Coming
The co-CEO also says the company's early days of silence on viewership was a "promise to creators."
By Rick Porter -
Business
How Profitable Is ESPN? Disney Breaks Out Figures for First Time
The sports unit had revenue of $16 billion and profits of $2.9 billion in 2022 — more than Disney's entire entertainment business that year — as the company prepares a new financial reporting structure.
By Alex Weprin
Latest Business
Netflix Plans “Substantial Changes” to Executive Pay After Shareholders Rejected CEO Pay Packages
Changes are coming to Netflix’s executive compensation packages. In its Q3 earnings letter, Netflix says that it is planning “substantial changes for 2024” to its CEO and executive pay packages. The promise to investors comes after shareholders rejected the company’s 2022 pay packages in a “Say on Pay” vote over the summer. According to an […]
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Netflix Hikes Prices For Basic and Premium Plans
Netflix will be rolling out price increases for some consumers in the U.S., U.K. and France starting Wednesday. In the U.S., the prices for the basic plan — the lowest tier plan without advertising, which is no longer available to new members — will increase from $9.99 to $11.99, while the premium plan, which allows […]
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Netflix, After Reducing Spend During Strikes, Now Expects Free Cash Flow to Be $6.5B
One week after contract talks between SAG-AFTRA and the Alliance of Motion Picture and Television Producers broke down, Netflix leadership gave an update to Wall Street on the status of the talks to resolve a strike that is nearing 100 days and brought most of Hollywood’s production to a halt. “We want nothing more than […]
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Netflix Adds 9M Subscribers Amid “Challenging” Six Months Due to Strikes
Netflix is adding new subscribers at a torrid pace, as its password-sharing crackdown continues and as it makes moves that could push subscribers toward its nascent advertising tier. The company reported 9 million new subscribers, with revenue of $8.5 billion and operating income of $1.7 billion. The company had reported 5.9 million new subscribers last […]
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CAPE, The Asian American Foundation Unveil Study on AAPI Creative Executive Experience
Two major Asian American entertainment advocacy nonprofits are partnering to help Asian American, Native Hawaiian and Pacific Islander creative executives advance in the industry. With support from The Asian American Foundation, CAPE surveyed current and former creative execs, ranging from assistant level to the C-suite, on their experiences working in the business. What they found […]
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Roger Goodell Signs Contract Extension With NFL
Roger Goodell has signed a contract extension with the NFL. The NFL commissioner has signed a new deal that will keep him at the helm of the league through March 2027. The announcement was made as the NFL owners meet in New York this week. “The Compensation Committee updated the full ownership today that an […]
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What Lies Ahead for Hollywood? Insiders Weigh In
The actors union and the studios have ceased negotiations for the time being, extending Hollywood’s “summer of strikes” into at least the late fall. Eventually, however, this too must end (right?). And while the town will breathe a much-needed sigh of relief when that happens, the tensions and problems that led the industry to the […]
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NBCUniversal’s 2024 Paris Olympics Advertising Sales “Pacing Ahead” of Prior Games
The 2024 Paris Olympics is still some 9 months away, but it’s already delivering for U.S. rightsholder NBCUniversal. According to Dan Lovinger, the president of Olympic and Paralympic partnerships for NBCU, the live coverage of the Opening Ceremony is sold out (it is scheduled to air live on NBC and Telemundo, and stream on Peacock), […]
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George Clooney Meets With SAG-AFTRA Leadership About State of Negotiations
SAG-AFTRA A-lister George Clooney met with his union’s leaders Tuesday in a bid to further understand how contract negotiations broke down on Oct. 11. Clooney spoke with union national executive director and chief negotiator Duncan Crabtree-Ireland as well as president Fran Drescher over Zoom about why studios suspended discussions the previous week. Deadline, which was […]
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Elon Musk’s X Testing Plan to Charge Users to Post on Platform
Elon Musk rolled out a new subscription plan to charge new users of X, formerly known as Twitter, to post content on the platform. The social network company wrote on its website that it started testing “Not A Bot” Tuesday in two countries, New Zealand and the Philippines. According to X, the subscription method will help “reduce […]
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A Lawyer for Pras Michel Used AI to Craft Closing Arguments. Now, the Fugees Rapper Wants the Conviction Tossed
On April 20, attorney David Kenner delivered closing statements for Prakazrel “Pras” Michel in a closely watched fraud trial involving allegations that the Fugees founding member directed a sprawling conspiracy in which he funneled money from a Malaysian financier to a network of straw donors to make illegal campaign contributions to Barack Obama in 2012. […]
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British Columbia Industry Urged to Ditch Polluting Diesel Generators on Film, TV Sets
The Vancouver film industry, a key production hub for Hollywood film and TV production, is being urged to wean itself off using loud, diesel fume-spewing generators on local film sets, including to run film and food trucks. Instead, mobile power alternatives — like drawing energy directly from the local electrical grid — are being encouraged […]
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