Latest Business News
Nas’ Company Mass Appeal Hit With Racial Discrimination Lawsuit
Mass Appeal, the multimedia company co-founded by hip-hop icon Nas, was hit on Tuesday with a discrimination lawsuit in which a white executive claims she was the victim of “venomous and racist comments about ‘White folk’ and ‘crackers,’” and was subsequently fired. Filed in a federal court in Manhattan, the lawsuit specifies the races of […]
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How Much Los Angeles’ Film and TV Production Fell Amid Strikes
A clearer picture of the impact on production caused by the ongoing actors strike and the recently resolved writers strike is coming into focus, with filming in Los Angeles down by nearly half compared to the same period last year. The decline marks the seventh consecutive quarterly filming drop, which has been driven largely by […]
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Netflix Unveils Next Steps to Build Advertising Business
Netflix is expanding its advertising business, rolling out a handful of new offerings for marketers as it seeks to grow its share in the ad-supported video space. Netflix vp global advertising sales Peter Naylor officially announced the new offerings during a keynote at Advertising Week New York on Tuesday. The new formats include title sponsorships, […]
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‘The Way Down’ EP Nile Cappello Inks Overall Deal With The Intellectual Property Corp. (Exclusive)
Journalist and producer Nile Cappello has signed an overall deal with The Intellectual Property Corporation. Under the deal, Cappello’s Yes, Like the River company will develop nonfiction programming for the Sony Pictures TV-based IPC, led by CEO Eli Holzman and president Aaron Saidman. The agreement extends a working relationship between IPC and Cappello’s company, which […]
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Paramount Chief Bob Bakish Is “Optimistic” About a SAG-AFTRA Deal in the “Near Term”
Bob Bakish, president and CEO of Paramount Global, appears confident SAG-AFTRA and the Alliance of Motion Picture and Television Producers will reach a deal to end the ongoing actors strike. Speaking at the international television conference MIPCOM on Tuesday, where he received the 2023 personality of the year award, Bakish said despite negotiations breaking down last […]
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Patreon Acquires Livestreaming Events Platform Moment
Subscription platform Patreon has acquired digital events platform Moment. The platform, which allows creators to sell tickets to livestreamed events, launched in 2019 under the name Moment House. It has since been used by celebrities and brands such as Justin Bieber, Tame Impala, Kygo, Pod Save America and the Good For You podcast with Whitney […]
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Netflix Steers Into Live Sports With ‘Drive to Survive,’ ‘Full Swing’ Stars
Netflix is taking a swing at live sports. The streamer, which has mounted a few live events in the past year, has set its first live sports event — one that also reinforces the company brand. Netflix will stage a nine-hole golf match, which it’s calling the Netflix Cup, and will feature athletes familiar to […]
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Big Tech’s Favorite Legal Shield Takes a Hit
A Los Angeles judge has declined to dismiss a series of blockbuster lawsuits against Meta, TikTok, Snap and Google arguing their platforms are intentionally designed to addict and fuel mental health disorders in teenagers, increasing the likelihood they will have to potentially face or settle for billions of dollars the product liability claims. In the […]
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Bandcamp Undergoes Major Layoffs After Sale
In a major pivot for a platform that had touted itself as a more artist-friendly destination than streaming giants like Spotify and Apple Music, Bandcamp is cutting a significant number of employees. Songtradr, the Santa Monica-based music licensing service that acquired Bandcamp from Epic Games, said on Monday that it had closed the deal for […]
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Why Ari Emanuel Can’t Help Himself
Oops, he did it again. At 62, Ari Emanuel is now lord and master (or more precisely, CEO) of not one but two publicly held companies. Still, he could not resist bashing his longtime rivals at CAA when presented with a mic at the Bloomberg Screentime conference. And those weren’t the only comments that made […]
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Kevin Hart’s Hartbeat Bolsters Executive Ranks With Two Hires (Exclusive)
Hartbeat, Kevin Hart’s entertainment company, has hired two new senior executives. Janina Lundy, former head of emerging audience development and marketing for Prime Video and Amazon Studios, will serve as Hartbeat’s executive vp, head of marketing and brand strategy. Adam Puchalsky, former global head of content and brand experiences at Wavemaker, will serve as executive […]
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ITV CEO on Trialing AI, Impact of Dual Strikes and How ITVX Has “Accelerated” Streaming Ambitions
Carolyn McCall, CEO of ITV, has led the U.K. TV giant since 2018, driving its transformation for the digital age. Freemium streaming service ITVX launched in late 2022 with such originals as Cold War drama A Spy Among Friends, starring Damian Lewis and Guy Pearce. It has brought the company “over 2 billion streams and […]
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Netflix Earnings Preview: Analysts Cut Stock Price Targets As Wall Street Resets Expectations
Netflix is expected to post strong subscriber gains when it reports its latest quarterly results on Oct. 18, but you couldn’t tell that from the stock’s performance since the global streamer’s July earnings update, when it added 5.9 million subscribers to total 238.4 million global paid memberships. That is because shares in the streaming giant, […]
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Tracy Owen, Industrial Relations Executive at Paramount, Dies at 43
Tracy Owen, senior vp industrial relations for Paramount Pictures and Paramount Television Studios, died Oct. 1 in Los Angeles after suffering a stroke. She was 43. “Since first joining our team over 10 years ago, Tracy has been a bright light who touched the lives of all who had the privilege of working beside her,” […]
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Lionsgate CEO Jon Feltheimer’s Pay Rises to $21.5M
Lionsgate CEO Jon Feltheimer saw his total compensation jump to $21.5 million for fiscal 2023, according to the company’s latest proxy filing disclosed Friday. That’s up from fiscal 2022 when Feltheimer received $5.6 million in total pay, and the $19.1 million he earned as part of his overall compensation package for fiscal 2021. Feltheimer’s 2023 […]
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David Ellison’s Skydance Media Donates $1M to Support Humanitarian Relief Amid Israel Crisis
Skydance Media, led by David Ellison, has committed $1 million to humanitarian relief efforts in Israel and the region after Hamas terror attacks that hit the country over the weekend. The funds will go to American Friends of Magen David Adom through an employee match program subsidized in part by CEO Ellison. “Skydance stands with Israel, strongly condemns […]
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