Latest Business News
Universal Music Files $75M Lawsuit Against Amazon-Backed AI Firm for Ripping Off Rolling Stones, Beyoncé Lyrics
A trio of major music publishers are stepping into the legal battle against generative artificial intelligence to stop the use of their copyrighted material to train AI systems, this time in a lawsuit against Anthropic. Universal Music Group, Concord Music Group and ABKCO sued the company in Tennessee federal court on Wednesday, accusing it of […]
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Netflix “in the Sports Business” But Still Not Interested in Live Games
Netflix won’t be live streaming any Formula 1 races, pro tennis tournaments or PGA Tour events anytime soon. But the company does plan to continue leaning into the niche it has carved out with sports-related documentaries like Formula 1: Drive to Survive, Break Point and Full Swing. “We are in the sports business, but we’re […]
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Netflix’s Ted Sarandos: More Streaming Data Transparency Is Coming
After years of keeping viewing data under lock and key, streamers have become a little more open about sharing numbers publicly in the past two years. Netflix’s Ted Sarandos says he expects that trend to continue — and also defended the earlier practice as a part of a “promise” to the company’s creative partners. “We’re heading […]
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How Profitable Is ESPN? Disney Breaks Out Figures for First Time
Just how profitable is ESPN to The Walt Disney Co.? For the first time, there’s a clear answer, and it shows just how lucrative the sports business is for the company. Beginning next quarter, Disney will change how it reports its quarterly financials. The move comes after CEO Bob Iger’s reorganization earlier this year to […]
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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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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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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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Roku Reorg: Charlie Collier Shuffles Media Team
Roku has promoted several executives as Charlie Collier continues to build up the company’s media ambitions. Among the changes, Alison Levin has been promoted to vice president of global media revenue, where she will assume global responsibility for all revenue efforts across the segment. Kristina Shepard has been elevated to vice president of global advertising […]
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Showtime Sports to Shut Down Later This Year
The Boxing Bell is ringing for Showtime Sports. Paramount says that Showtime’s sports division will shut down at the end of the year. “As we evolve our strategy to more efficiently allocate resources and align our content offering across the business, we’ve made the difficult decision not to move forward with boxing and other content […]
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