The all-new Hollywood Reporter offers unprecedented access to the people, studios, networks and agencies that create the magic in Hollywood. Published weekly, the oversized format includes exceptional photography and rich features.
Before we get to the deep dive on the internal drama at Netflix — the interne-cine battles among top leadership that more than one source calls “the Hunger Games” — let’s pause to let the town enjoy this moment. The thing about schadenfreude is that the freude (joy) is usually savored when the schaden (the bad thing) happens to someone else. In the case of Netflix’s ongoing debacle, however, the streamer’s competitors acknowledge that they are damaged themselves by the sudden discovery that maybe the sky is not the limit when it comes to streaming. But they are relishing the bad news anyway. Yes, says a top executive at one of Netflix’s legacy-studio rivals, the news has dinged valuations and been bad for his business, but “it sure fucking feels…
Benito Antonio Martínez Ocasio The artist, aka Bad Bunny, will top-line Sony’s take on the character El Muerto. He’ll be the first Latino actor to lead a Marvel live-action film. David Yates The Fantastic Beasts: Secrets of Dumbledore director can’t right the Harry Potter prequel franchise, as the project may struggle to gross more than $100 million domestically. Adam Silver The NBA commissioner has seen the playoffs rise 23 percent in viewers over 2021 through a week of games, following a trend of improved ratings for other sports. Evan Spiegel As Snap reports a $359.6 million net loss for its latest quarter, the CEO will also contend with more digital ad headwinds ahead due to Apple’s iOS privacy changes. Showbiz Stocks $19.83 (-15.4%) WARNER BROS. DISCOVERY (WBD) In its first…
For years, Netflix reigned as the undisputed king of streaming, with that feeling extending to employees across the board who benefited from massive spending budgets and envious compensation packages. But on April 19, when Netflix reported that it lost 200,000 subscribers in its latest quarter, employees were confronted with reality. “When you are flying high for so long — an industry leader — of course it hurts to be taken down a peg,” one Netflix staffer says. Three individuals in different divisions at Netflix tell THR that there has been a noticeable slowdown in recent hiring as teams have had to fight harder to advocate for new hires. (The streamer still has many open listings on its job posting site, however.) “I’ve been told the budget for personnel on my…
Not having commercials during its programming has been a hallmark of Netflix’s corporate image as a disruptive force in TV. Even as the company moved ever closer to the broadcasting ideal of offering something for everyone, it resisted — or even scoffed at — the idea of bringing in ads. But after the release of a rough quarterly earnings report April 19, in which Netflix had its first net loss of subscribers in more than a decade, the streamer is making plans to launch a less expensive, ad-supported subscription tier in the next couple of years. A company used to leading the streaming space will now be playing catch-up in the advertising-based video-on-demand (AVOD) field, as nearly all of Netflix’s major competitors either already have ad-supported options or announced plans…
Warner Music Group is launching an in-house podcast network led by strategy exec Allan Coye. The first slate of shows features hosts Lupita Nyong’o and Jason Derulo. Is it a video clip or a podcast? In a move that takes aim at YouTube, Spotify is allowing all podcast creators in the U.S., Canada, New Zealand, Australia and the U.K. to upload video versions of their shows on its platform. Streaming-distribution firm Cinedigm is branching out and launching a podcast team with the hire of showrunner Pacific Obadiah, who will identify new IP for adaptations.…
When the upfronts return to New York City in mid-May after a two-year pandemic hiatus, broadcast TV is expected to play second fiddle. Though ABC, NBC and CBS will still get their moments, Disney is expected to introduce the ad-supported tier of Disney+, while Paramount will pitch Paramount+ and NBCUniversal will tout Peacock. After years of preparing to go all in on streaming, linear is no longer a corporate priority for Hollywood giants. But at least a handful of companies are bucking the trend and leaning into linear TV, hoping that it can help them stand out in a world where everyone else seems to be trying to chase Netflix, which is itself undergoing a rocky period as its subscription growth slows. “You have to be willing to be a…
