That will actually be sad if they never grow into long form entertainment. Luckily my young adult kids are all into good TV and movies and all bought TV's when they moved out on their own.
DIS Shareholders and Stock Info ONLY
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jade1
I spend half my money on WDW, and waste the rest.
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Interesting. Wonder if that zoom on the lake to the fish house from pic one to rwo above is affected.
clarker99
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In the moons case, the AI has to recognize whatever is in the image and then it will 'fill in the gaps' in the post-processing process. Samsung has intentionally chose the moon as something it wants to 'enhance'. And by enhance, they actually just replace your photo of the moon.
In the case of the fish house, the 100x zoom will pick up the fish house and colors and the pic will likely be blurry (bc when you zoom that close any amount of movement will cause some blur plus you lose quality the more you zoom). Then in post processing the chip will smooth everything out as best it can. The post-processing chips in smartphones now are extremely powerful.
Speaking of AI...
https://nypost.com/2023/07/27/disney-netflix-go-on-ai-hiring-sprees-as-strikes-drag-on/
Disney, Netflix go on AI hiring sprees as strikes drag on
https://nypost.com/2023/07/27/disney-netflix-go-on-ai-hiring-sprees-as-strikes-drag-on/
Last edited:
Elijah Abrams
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That’s it, we’re rioting inside the studios' lots alongside the actors and writers! That’ll get those film companies' attention!
wabbott
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https://finance.yahoo.com/news/bob-iger-become-enemy-no-191452230.html
Bob Iger has become enemy No. 1 as other media bosses dodge Hollywood’s wrath. PR experts say it’s a cautionary tale in CEO communication
Paige McGlauflin
Thu, July 27, 2023 at 2:14 PM CDT
Disney CEO Bob Iger’s recent remarks about striking Hollywood workers did not go over well.
In an interview with CNBC’s Squawk Box earlier this month at the Sun Valley Conference in Idaho—dubbed “summer camp for billionaires”—Iger said that the simultaneous actors’ and writers’ strikes added to widespread existing entertainment industry disruption. Both unions are pushing for a slew of reforms, including increased base and residual pay, as well as stronger regulations on the use of artificial intelligence in contract negotiations.
“I understand any labor organization’s desire to work on behalf of its members to get the most compensation and to be compensated fairly based on the value that they deliver,” Iger said, mentioning that a month earlier, Disney agreed to a contract with the Directors Guild of America. “We wanted to do the same thing with the writers, and we’d like to do the same thing with the actors. There’s a level of expectation that they have that is just not realistic, and they are adding to a set of challenges that this business is already facing that is quite frankly very disruptive and dangerous.”
The backlash was swift and strong, as celebrities and average social media users alike called him out for his comments.
“He stuck his foot in it so bad that, you notice, they’re not letting any of the other CEOs open their mouths,” Screen Actors Guild–American Federation of Television and Radio Artists president Fran Drescher said during an interview with Vermont Sen. Bernie Sanders. “There he is, sitting in his designer clothes, just got off his private yacht, at the billionaires’ camp, telling us we’re unrealistic. When he is making $78,000 a day. How do you deal with someone like that? Who is so tone-deaf? Are you an ignoramus?”
Actor Sean Gunn said Iger should “take a look in the mirror,” and David Simon, creator of TV show The Wire, tweeted out a short message to the CEO: “F*** you, Bob Iger.”
Iger—who returned to Disney as CEO last November after his successor Bob Chapek was ousted—receives base pay of $1 million a year, with an annual bonus of $1 million and approximately $25 million in stock awards. His expected $27 million salary for 2023 would be 535 times that of the Disney employee median ($54,256), according to an analysis by Insider. He recently signed on to continue as CEO through 2026.
By comparison, SAG-AFTRA actors made a median salary of $46,960 in 2021, with the lower quartile making an average of $30,040, according to SAG-AFTRA’s national executive director and chief negotiator Duncan Crabtree-Ireland. And while residuals—payments to union members who worked on productions for reruns and other post-release airings—used to be enough to supplement an annual salary, many actors and writers receive pennies for their work in the streaming era.
Three PR experts whom Fortune spoke with say that Iger likely deviated from his media training, and his remarks come across as lacking in empathy, particularly in light of the huge pay gap between top management and average workers. It’s a lesson in what business leaders should avoid doing when making public comments on contentious issues—and why it’s important to stick to the script.
“It was a misstep from a communication standpoint,” says Stephanie Mattera, academic director and clinical assistant professor of marketing and public relations at New York University. “That’s not what people want to hear. People already survived a pandemic. They had financial challenges during that time. We’re dealing with inflation. Again, that economic disparity or pay ratio that we see between CEOs and the everyday worker, is still huge.”
Iger’s comments over the strike were a “little bit of a bad look,” says Jason Mudd, CEO and managing partner at Axia Public Relations. “He’s calling out the people who are demonstrating or picketing or boycotting; he’s calling them unreasonable. And they’re looking at him, and his lifestyle, and his income level, and cushy situation, and calling him unreasonable.”
Andrew Gilman, president and CEO of CommCore Consulting Group, said Iger broke a cardinal rule of PR—not repeating or introducing negative ideas, whether asked about them or not.
“If you think it was disappointing, let the university professor [or] a labor expert make those comments, that it’s ‘unrealistic,’ as opposed to you doing that,” says Gilman.
But Mudd adds that although Iger’s tone was harsh, and the reaction against him has been considerable, his comments may have been a negotiating tactic to set union expectations low so that Disney doesn’t have to “start from such a high number.”
“It may not be the best look, he may be losing in the court of public opinion, [but] he’s getting paid the big bucks to take a bad rap, ultimately, so he can get what the organization is looking for,” said Mudd.
What about the other entertainment bosses?
The backlash against Iger has been outsize compared with other studio CEOs who have also been swept up in the Hollywood strikes. Although some have commented on the strike, none have been singled out in the same way that Iger has.
Paramount Global CEO Bob Bakish said at the onset of the Writers Guild of America strike in May that the company had “many levers to pull, and that’ll allow us to manage through this strike, even if it’s for an extended duration.” And both Warner Bros. Discovery CEO David Zaslav and Netflix co-CEO Ted Sarandos said they could weather a writers’ strike thanks to their vast content libraries.
It’s likely no mystery why most of them have stayed silent since Iger’s interview, and experts say their comms teams are probably advising them to tread carefully.
“PR people are advising them to be cautious. They’re already naturally cautious—that’s how they get and stay in these positions, [by] not putting themselves out there too soon,” says Mudd. “[Iger] was out there, he did it, and the response has got other people thinking twice before doing it, I’m sure.”
In contrast to Iger, when Sarandos talked about the strike on an earnings call last week, he portrayed himself as a man of the people, and mentioned his father was a union electrician.
“I remember his local because that union was very much a part of our lives when I was growing up. And I also remember on more than one occasion, my dad being out on strike. And I remember that because it takes an enormous toll on your family, financially and emotionally,” he said. He added that Netflix was “super committed” to reaching an agreement as soon as possible.
“His positionality was so good,” Mattera says of Sarandos. “He had empathy, and he led with his humanity. That’s what CEOs need to do.”
Gilman thinks that moving forward, the company will better prepare Iger and other executives to answer strike-related questions. “I think he will, hopefully, use better, more neutral language. You’d probably say: ‘We value our writers, we value our directors, this is a tough era for our industry,’” says Gilman.
He would also advise Disney to start looking for actionable ways to repair its relationship with writers and actors when the strike is over.
“Where do you want to be as a company in your relationship to talent, three months, six months, eight months out?” says Gilman. That includes making clear the company values talent, and holding town halls with writers and actors.
“Sit down, do your walk arounds, have your town halls, be willing to take the tough questions because you need these people,” Gilman says. “You don‘t want to be playing tennis across the net. You want to be working together.”
This story was originally featured on Fortune.com.
Bob Iger has become enemy No. 1 as other media bosses dodge Hollywood’s wrath. PR experts say it’s a cautionary tale in CEO communication
Paige McGlauflin
Thu, July 27, 2023 at 2:14 PM CDT
Disney CEO Bob Iger’s recent remarks about striking Hollywood workers did not go over well.
In an interview with CNBC’s Squawk Box earlier this month at the Sun Valley Conference in Idaho—dubbed “summer camp for billionaires”—Iger said that the simultaneous actors’ and writers’ strikes added to widespread existing entertainment industry disruption. Both unions are pushing for a slew of reforms, including increased base and residual pay, as well as stronger regulations on the use of artificial intelligence in contract negotiations.
“I understand any labor organization’s desire to work on behalf of its members to get the most compensation and to be compensated fairly based on the value that they deliver,” Iger said, mentioning that a month earlier, Disney agreed to a contract with the Directors Guild of America. “We wanted to do the same thing with the writers, and we’d like to do the same thing with the actors. There’s a level of expectation that they have that is just not realistic, and they are adding to a set of challenges that this business is already facing that is quite frankly very disruptive and dangerous.”
The backlash was swift and strong, as celebrities and average social media users alike called him out for his comments.
“He stuck his foot in it so bad that, you notice, they’re not letting any of the other CEOs open their mouths,” Screen Actors Guild–American Federation of Television and Radio Artists president Fran Drescher said during an interview with Vermont Sen. Bernie Sanders. “There he is, sitting in his designer clothes, just got off his private yacht, at the billionaires’ camp, telling us we’re unrealistic. When he is making $78,000 a day. How do you deal with someone like that? Who is so tone-deaf? Are you an ignoramus?”
Actor Sean Gunn said Iger should “take a look in the mirror,” and David Simon, creator of TV show The Wire, tweeted out a short message to the CEO: “F*** you, Bob Iger.”
Iger—who returned to Disney as CEO last November after his successor Bob Chapek was ousted—receives base pay of $1 million a year, with an annual bonus of $1 million and approximately $25 million in stock awards. His expected $27 million salary for 2023 would be 535 times that of the Disney employee median ($54,256), according to an analysis by Insider. He recently signed on to continue as CEO through 2026.
By comparison, SAG-AFTRA actors made a median salary of $46,960 in 2021, with the lower quartile making an average of $30,040, according to SAG-AFTRA’s national executive director and chief negotiator Duncan Crabtree-Ireland. And while residuals—payments to union members who worked on productions for reruns and other post-release airings—used to be enough to supplement an annual salary, many actors and writers receive pennies for their work in the streaming era.
Three PR experts whom Fortune spoke with say that Iger likely deviated from his media training, and his remarks come across as lacking in empathy, particularly in light of the huge pay gap between top management and average workers. It’s a lesson in what business leaders should avoid doing when making public comments on contentious issues—and why it’s important to stick to the script.
“It was a misstep from a communication standpoint,” says Stephanie Mattera, academic director and clinical assistant professor of marketing and public relations at New York University. “That’s not what people want to hear. People already survived a pandemic. They had financial challenges during that time. We’re dealing with inflation. Again, that economic disparity or pay ratio that we see between CEOs and the everyday worker, is still huge.”
Iger’s comments over the strike were a “little bit of a bad look,” says Jason Mudd, CEO and managing partner at Axia Public Relations. “He’s calling out the people who are demonstrating or picketing or boycotting; he’s calling them unreasonable. And they’re looking at him, and his lifestyle, and his income level, and cushy situation, and calling him unreasonable.”
Andrew Gilman, president and CEO of CommCore Consulting Group, said Iger broke a cardinal rule of PR—not repeating or introducing negative ideas, whether asked about them or not.
“If you think it was disappointing, let the university professor [or] a labor expert make those comments, that it’s ‘unrealistic,’ as opposed to you doing that,” says Gilman.
But Mudd adds that although Iger’s tone was harsh, and the reaction against him has been considerable, his comments may have been a negotiating tactic to set union expectations low so that Disney doesn’t have to “start from such a high number.”
“It may not be the best look, he may be losing in the court of public opinion, [but] he’s getting paid the big bucks to take a bad rap, ultimately, so he can get what the organization is looking for,” said Mudd.
What about the other entertainment bosses?
The backlash against Iger has been outsize compared with other studio CEOs who have also been swept up in the Hollywood strikes. Although some have commented on the strike, none have been singled out in the same way that Iger has.
Paramount Global CEO Bob Bakish said at the onset of the Writers Guild of America strike in May that the company had “many levers to pull, and that’ll allow us to manage through this strike, even if it’s for an extended duration.” And both Warner Bros. Discovery CEO David Zaslav and Netflix co-CEO Ted Sarandos said they could weather a writers’ strike thanks to their vast content libraries.
It’s likely no mystery why most of them have stayed silent since Iger’s interview, and experts say their comms teams are probably advising them to tread carefully.
“PR people are advising them to be cautious. They’re already naturally cautious—that’s how they get and stay in these positions, [by] not putting themselves out there too soon,” says Mudd. “[Iger] was out there, he did it, and the response has got other people thinking twice before doing it, I’m sure.”
In contrast to Iger, when Sarandos talked about the strike on an earnings call last week, he portrayed himself as a man of the people, and mentioned his father was a union electrician.
“I remember his local because that union was very much a part of our lives when I was growing up. And I also remember on more than one occasion, my dad being out on strike. And I remember that because it takes an enormous toll on your family, financially and emotionally,” he said. He added that Netflix was “super committed” to reaching an agreement as soon as possible.
“His positionality was so good,” Mattera says of Sarandos. “He had empathy, and he led with his humanity. That’s what CEOs need to do.”
Doing damage control
Since Iger’s comments, Disney has remained silent on the ongoing strike.Gilman thinks that moving forward, the company will better prepare Iger and other executives to answer strike-related questions. “I think he will, hopefully, use better, more neutral language. You’d probably say: ‘We value our writers, we value our directors, this is a tough era for our industry,’” says Gilman.
He would also advise Disney to start looking for actionable ways to repair its relationship with writers and actors when the strike is over.
“Where do you want to be as a company in your relationship to talent, three months, six months, eight months out?” says Gilman. That includes making clear the company values talent, and holding town halls with writers and actors.
“Sit down, do your walk arounds, have your town halls, be willing to take the tough questions because you need these people,” Gilman says. “You don‘t want to be playing tennis across the net. You want to be working together.”
This story was originally featured on Fortune.com.
Obi-J Kenobi
Jedi Knight
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- Mar 15, 2021
- Messages
- 1,250
Clearly Mr. Simon isn't a member of DIS Boards, because that type of language is reserved for Bob Chapek around here, not Big Papa Iger.
jade1
I spend half my money on WDW, and waste the rest.
- Joined
- Dec 30, 2001
- Messages
- 11,632
And just like that, Lake Nona is back in play.
jade1
I spend half my money on WDW, and waste the rest.
- Joined
- Dec 30, 2001
- Messages
- 11,632
Wow, actually even more impressed now.
wabbott
DIS Veteran
- Joined
- Aug 4, 2021
- Messages
- 6,299
https://variety.com/2023/film/news/writers-strike-force-majeuer-deals-terminated-1235682117/
Jul 28, 2023 10:47am PDT
Force Majeure Terminations for First Look, Overall Deals at Struck Companies Coming as Early as Aug. 1 (EXCLUSIVE)
By Matt Donnelly, Joe Otterson, Michael Schneider, Gene Maddaus
Major Hollywood studios and streaming platforms are considering terminating some of their first look and overall deals with writers as soon as Aug. 1, more than half-a-dozen sources with knowledge of various term agreements and talks inside these companies told Variety. The deals would be torn up under contractual force majeure clauses, as SAG-AFTRA and the Writers Guild of America continue to strike.
Decision makers could begin ending these pacts as soon as next week, said insiders from both the creative community and their corporate counterparts. Many of these deals were suspended only a week into the strike in May, by producers including Amazon, HBO, Warner Bros. TV, NBCUniversal, Disney and CBS Studios. The writers strike is also rapidly approaching the 90-day mark when, historically, dealmakers have the option to kill agreements in the face of an “act of God,” the common show business interpretation for how the phrase “force majeure” applies to these type of labor shutdowns. Overall deals typically pay overhead for a writer’s company and fund the development of projects. First-look deals also provide financial padding and, in return, guarantee that the studio or company has favored nation status when it comes to determining potential distribution of a series or film. The deals being considered for termination are almost exclusively in television, numerous insiders noted.
Sources at top agencies representing writers said they had not received any official notice regarding the Aug. 1 date, but many expect to start receiving word next week. The studios notified them of deal suspensions in writing or on phone calls in May, Variety reported at the time.
The move to terminate, which many consider drastic but necessary as labor conflicts drag on, is more complicated than in previous strikes (namely the conflict in 2007-08, which many industry watchers are using as a measuring stick). Since that time, streaming has exponentially increased the volume of content being produced, which has made first-look and overall deals more common in the ecosystem. As a result of the 2007-08 strike, when term deals were shredded almost immediately, top talent now have safeguards in their contracts to protect against force majeure, two sources with knowledge of two such contracts said.
The deals for major creators – at the level of a Ryan Murphy, Shonda Rhimes, Taylor Sheridan or Tyler Perry – stipulate that their pacts cannot be jettisoned unless a given studio enacts that clause for all of the term agreements they hold. This could lead to significantly less bloodshed if terminations go into effect, said insiders.
“In other words, you can’t cherry pick,” said one individual with knowledge of high-level contracts. Briana Hill, partner and co-chair of the media and entertainment group at law firm Pryor Cashman, said those kinds of deals allow for “no selective suspension of termination.”
David Goodman, co-chair of the WGA negotiating committee, echoed this in an interview with Variety this week. “They have a legal problem unless you’re gonna force majeure all the deals,” he said. He argued that an “act of God” cannot be invoked selectively, and that studios are unlikely to wipe out all of their deals, because that means they might lose some creators to their rivals when the strike is over. He also noted that studios are already saving money because they have suspended deals.
“They’re not paying people now,” Goodman added. “They’ve suspended very big deals. My assumption is that’s all they need.”
More than one literary agent found this kind of protection for mega-deal holders ironic. The WGA has been lobbying for a better contract on the message that the streaming economy has led to a disappearing middle class of TV writers. With the big names shielded by better terms, this leaves mid-range creatives with first-looks and overalls more vulnerable to force majeure (mid-range deals are considered those that pay out around $850,000 to $3 million per year, agency sources estimated, which many writers on the picket lines would tell you is far beyond a “middle class” writer).
Contractual terms are not all that might keep force majeure at bay. The money saved by a studio would be negligible, especially compared to the potential public relations headache those kind of terminations could present, noted one top content executive. The producers, represented in both Hollywood union strikes by an alliance called the AMPTP, have been painted as bloated, greedy and eager to replace human workers with artificial intelligence in order to keep costs down and streaming customers inundated with more and more content.
Also, not all deals were suspended early in the strike, as some producers — particularly on the non-writing side — continued work on projects that had already written and were able to continue production. But as the SAG-AFTRA strike put a halt to most remaining projects that were still shooting, and post-production work wrapping up on the last projects in the can, those lingering deals may soon also be suspended as work runs out.
“These strikes haven been so strange in so many ways, in terms of how things are playing out in the court of public opinion,” Hill said. “There are a lot of things in entertainment that are strictly contractual, and a lot of things that are not. Ultimately, it’s going to come down to relationships and the culture at each individual studio or platform.”
Jul 28, 2023 10:47am PDT
Force Majeure Terminations for First Look, Overall Deals at Struck Companies Coming as Early as Aug. 1 (EXCLUSIVE)
By Matt Donnelly, Joe Otterson, Michael Schneider, Gene Maddaus
Major Hollywood studios and streaming platforms are considering terminating some of their first look and overall deals with writers as soon as Aug. 1, more than half-a-dozen sources with knowledge of various term agreements and talks inside these companies told Variety. The deals would be torn up under contractual force majeure clauses, as SAG-AFTRA and the Writers Guild of America continue to strike.
Decision makers could begin ending these pacts as soon as next week, said insiders from both the creative community and their corporate counterparts. Many of these deals were suspended only a week into the strike in May, by producers including Amazon, HBO, Warner Bros. TV, NBCUniversal, Disney and CBS Studios. The writers strike is also rapidly approaching the 90-day mark when, historically, dealmakers have the option to kill agreements in the face of an “act of God,” the common show business interpretation for how the phrase “force majeure” applies to these type of labor shutdowns. Overall deals typically pay overhead for a writer’s company and fund the development of projects. First-look deals also provide financial padding and, in return, guarantee that the studio or company has favored nation status when it comes to determining potential distribution of a series or film. The deals being considered for termination are almost exclusively in television, numerous insiders noted.
Sources at top agencies representing writers said they had not received any official notice regarding the Aug. 1 date, but many expect to start receiving word next week. The studios notified them of deal suspensions in writing or on phone calls in May, Variety reported at the time.
The move to terminate, which many consider drastic but necessary as labor conflicts drag on, is more complicated than in previous strikes (namely the conflict in 2007-08, which many industry watchers are using as a measuring stick). Since that time, streaming has exponentially increased the volume of content being produced, which has made first-look and overall deals more common in the ecosystem. As a result of the 2007-08 strike, when term deals were shredded almost immediately, top talent now have safeguards in their contracts to protect against force majeure, two sources with knowledge of two such contracts said.
The deals for major creators – at the level of a Ryan Murphy, Shonda Rhimes, Taylor Sheridan or Tyler Perry – stipulate that their pacts cannot be jettisoned unless a given studio enacts that clause for all of the term agreements they hold. This could lead to significantly less bloodshed if terminations go into effect, said insiders.
“In other words, you can’t cherry pick,” said one individual with knowledge of high-level contracts. Briana Hill, partner and co-chair of the media and entertainment group at law firm Pryor Cashman, said those kinds of deals allow for “no selective suspension of termination.”
David Goodman, co-chair of the WGA negotiating committee, echoed this in an interview with Variety this week. “They have a legal problem unless you’re gonna force majeure all the deals,” he said. He argued that an “act of God” cannot be invoked selectively, and that studios are unlikely to wipe out all of their deals, because that means they might lose some creators to their rivals when the strike is over. He also noted that studios are already saving money because they have suspended deals.
“They’re not paying people now,” Goodman added. “They’ve suspended very big deals. My assumption is that’s all they need.”
More than one literary agent found this kind of protection for mega-deal holders ironic. The WGA has been lobbying for a better contract on the message that the streaming economy has led to a disappearing middle class of TV writers. With the big names shielded by better terms, this leaves mid-range creatives with first-looks and overalls more vulnerable to force majeure (mid-range deals are considered those that pay out around $850,000 to $3 million per year, agency sources estimated, which many writers on the picket lines would tell you is far beyond a “middle class” writer).
Contractual terms are not all that might keep force majeure at bay. The money saved by a studio would be negligible, especially compared to the potential public relations headache those kind of terminations could present, noted one top content executive. The producers, represented in both Hollywood union strikes by an alliance called the AMPTP, have been painted as bloated, greedy and eager to replace human workers with artificial intelligence in order to keep costs down and streaming customers inundated with more and more content.
Also, not all deals were suspended early in the strike, as some producers — particularly on the non-writing side — continued work on projects that had already written and were able to continue production. But as the SAG-AFTRA strike put a halt to most remaining projects that were still shooting, and post-production work wrapping up on the last projects in the can, those lingering deals may soon also be suspended as work runs out.
“These strikes haven been so strange in so many ways, in terms of how things are playing out in the court of public opinion,” Hill said. “There are a lot of things in entertainment that are strictly contractual, and a lot of things that are not. Ultimately, it’s going to come down to relationships and the culture at each individual studio or platform.”
Elijah Abrams
DIS Veteran
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- Feb 6, 2020
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- 603
Yikes! Has he become worse than Eisner in the 2000s? So much for a grand return.
Can this get any worse?
Mikey15
DIS Veteran
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- Aug 29, 2018
- Messages
- 1,375
Can the studios really afford to wait for the creators to blink first? A few years ago I would say they had the upper hand, but for all the flack $DIS takes, some other studios must be far worse off. Sparse theatrical successes the last three years, stalling streaming growth, etc. They need not just content, but quality content, which is something that seems to be forgotten at the tail end of the “golden age of streaming.”
Iger’s certainly not been winning any public sympathies. I think people have been rooting for the artists thus far.
Iger’s certainly not been winning any public sympathies. I think people have been rooting for the artists thus far.
clarker99
DIS Veteran
- Joined
- May 15, 2019
- Messages
- 1,113
As far as strikes go, isn’t this how things usually go? Both sides dig in and mud slinging occurs. Owners are labelled greedy, labour are labelled as making unreasonable demands. They eventually find compromises, sign a deal and both sides look a bit like hypocrites. Lol
wabbott
DIS Veteran
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- 6,299
https://variety.com/2023/film/box-o...barbie-second-weekend-oppenheimer-1235682891/
Jul 29, 2023 8:16am PT
Box Office: ‘Haunted Mansion’ $9.9 Million Opening Day Can’t Scare ‘Barbie’ and ‘Oppenheimer’
by J. Kim Murphy
“Barbie” and “Oppenheimer” ain’t afraid of no ghost.
Disney’s new “Haunted Mansion” is settling for third place behind the formidable pair of blockbusters. The reimagining earned $9.9 million from 3,740 locations on its opening day, a figure that includes $3.1 million in Thursday previews. The family-friendly funhouse feature was projecting an opening between $25 million and $30 million, a range that some rivals predict the debut will end up falling short of.
With a $150 million production budget, “Haunted Mansion” is looking to be another disappointing chapter for Disney’s summer slate. Things kicked off strong with Marvel’s “Guardians of the Galaxy Vol. 3,” which released in May and tallied up $358 million in North America. But after “The Little Mermaid” failed to make a substantial splash overseas, the studio followed with two costly underperformers in “Elemental” and “Indiana Jones and the Dial of Destiny.”
No doubt that a swath of family audiences have kept their attention on “Barbie.” “Haunted Mansion” simply doesn’t have the critical buzz to keep up, turning in a low 27% approval rating from top critics on review aggregate website Rotten Tomatoes. Audiences are more friendly with a “B+” grade through research firm Cinema Score, but the Disney remake could certainly use some stronger sentiment than that.
Directed by Justin Simien, who showed teeth with “Dear White People” and the horror satire “Bad Hair,” “Haunted Mansion” draws inspiration from the Disneyland theme park ride of the same name. The attraction spawned a feature starring Eddie Murphy in 2003, which flipped a $90 million production budget for a $180 million global gross. This new entry recruits a substantial cast that includes LaKeith Stanfield, Tiffany Haddish, Owen Wilson, Danny DeVito, Rosario Dawson, Dan Levy, Jamie Lee Curtis and Jared Leto.
Also opening this weekend, A24 is putting its latest horror play “Talk to Me” in 2,340 locations. The Australian ghost story was acquired by the indie banner after a buzzy screening at the Sundance Film Festival. With some positive reviews on its side, the film is projected to open in sixth place with a solid $10.1 million gross.
“Barbie” will remain on top in its second weekend, earning a commanding $29 million on Friday. That’s down 59% from its massive $70.5 opening day, which ranks as the largest of the year. The Warner Bros. release actually added 94 more locations for its sophomore outing, now playing in 4,337 venues.
It’s impressive for a film like “Barbie,” which opened north of $150 million, to be projecting a drop of less than 50%. Most blockbusters with that immediate impact face a sharper tumble in their sophomore outings. It all speaks to the superlative one-two punch behind the Greta Gerwig-directed feature: ubiquitous build-up marketing and the perception of quality that delivered.
The hot-pink fantasia will push its domestic total beyond $350 million this weekend, already making it the fourth-highest grossing North American release of the year in just 10 days. It’ll likely pass “Spider-Man: Across the Spider-Verse” ($377 million) and “Guardians of the Galaxy Vol. 3” ($358 million) within the next week, only leaving “The Super Mario Bros. Movie” ($574 million) ahead of it on 2023 charts.
Universal’s “Oppenheimer” is maintaining second place, projecting a $46 million haul from 3,647 theaters. That’d notch an impressive 44% drop from its opening and would be enough to rank as the fifth-biggest sophomore outing ever for an R-rated release.
The Christopher Nolan feature would probably have landed an even stronger hold if it wasn’t playing strongly throughout the week. On Thursday, “Oppenheimer” became the first R-rated release to sell more than $10 million in tickets for seven days in a row. A big factor to that is the film’s play in Imax. Audiences believe that a Nolan feature demands a huge screen; that’s left consumers motivated to set aside time during the week to land a ticket for one of those premium large formats.
“Oppenheimer” should push its domestic haul to $173 million through Sunday, enough to slot it as the eighth-highest grossing North American release of the year after 10 days of release. It’s already the biggest non-IP production of the year too.
“Sound of Freedom” looks to take fourth, with rivals projecting another slim drop (-31%) this weekend, for a $13 million gross through the three-day frame. The film was acquired by Angel Studios from 20th Century Studios after the acquisition of Fox by Disney; it’s proven a wise investment. Rolling Stone has deemed “Sound of Freedom” a “QAnon-tinged thriller” that targets “the conscience of a conspiracy-addled boomer” — but controversy has likely only gotten more eyeballs on the film as religious and conservative media groups rally behind it.
With a total domestic gross likely reaching $150 million this weekend, a finish above $200 million and among the top 10 highest-earners of the year does seem to be in the cards. Angel Studios has instituted an unconventional “Pay It Forward” system, allowing people to donate money to the distribution banner so that the studio can purchase tickets for its own movie and distribute them for free. The company touts the initiative as a tool to raise awareness on child trafficking. Regardless of what fraction of those admissions end up redeemed, that’s all still money in the pocket for exhibitors.
Rounding out the top five, “Mission: Impossible — Dead Reckoning Part One” is relishing a softer fall in its third weekend, down 44% from its sophomore outing. The Tom Cruise action sequel faced a sharper tumble than expected last week at 64.6% — not an auspicious development for a franchise that has usually enjoyed long runs at the box office.
The Paramount release will hit $139 million through Sunday, still tracking behind what its predecessor “Fallout” earned through the same stretch of time ($161 million). With a production budget skirting $300 million, “Dead Reckoning” has been dealt a tough hand at the box office, facing stiff competition for viewers by contending against “Barbie,” “Oppenheimer” and even “Sound of Freedom.”
Jul 29, 2023 8:16am PT
Box Office: ‘Haunted Mansion’ $9.9 Million Opening Day Can’t Scare ‘Barbie’ and ‘Oppenheimer’
by J. Kim Murphy
“Barbie” and “Oppenheimer” ain’t afraid of no ghost.
Disney’s new “Haunted Mansion” is settling for third place behind the formidable pair of blockbusters. The reimagining earned $9.9 million from 3,740 locations on its opening day, a figure that includes $3.1 million in Thursday previews. The family-friendly funhouse feature was projecting an opening between $25 million and $30 million, a range that some rivals predict the debut will end up falling short of.
With a $150 million production budget, “Haunted Mansion” is looking to be another disappointing chapter for Disney’s summer slate. Things kicked off strong with Marvel’s “Guardians of the Galaxy Vol. 3,” which released in May and tallied up $358 million in North America. But after “The Little Mermaid” failed to make a substantial splash overseas, the studio followed with two costly underperformers in “Elemental” and “Indiana Jones and the Dial of Destiny.”
No doubt that a swath of family audiences have kept their attention on “Barbie.” “Haunted Mansion” simply doesn’t have the critical buzz to keep up, turning in a low 27% approval rating from top critics on review aggregate website Rotten Tomatoes. Audiences are more friendly with a “B+” grade through research firm Cinema Score, but the Disney remake could certainly use some stronger sentiment than that.
Directed by Justin Simien, who showed teeth with “Dear White People” and the horror satire “Bad Hair,” “Haunted Mansion” draws inspiration from the Disneyland theme park ride of the same name. The attraction spawned a feature starring Eddie Murphy in 2003, which flipped a $90 million production budget for a $180 million global gross. This new entry recruits a substantial cast that includes LaKeith Stanfield, Tiffany Haddish, Owen Wilson, Danny DeVito, Rosario Dawson, Dan Levy, Jamie Lee Curtis and Jared Leto.
Also opening this weekend, A24 is putting its latest horror play “Talk to Me” in 2,340 locations. The Australian ghost story was acquired by the indie banner after a buzzy screening at the Sundance Film Festival. With some positive reviews on its side, the film is projected to open in sixth place with a solid $10.1 million gross.
“Barbie” will remain on top in its second weekend, earning a commanding $29 million on Friday. That’s down 59% from its massive $70.5 opening day, which ranks as the largest of the year. The Warner Bros. release actually added 94 more locations for its sophomore outing, now playing in 4,337 venues.
It’s impressive for a film like “Barbie,” which opened north of $150 million, to be projecting a drop of less than 50%. Most blockbusters with that immediate impact face a sharper tumble in their sophomore outings. It all speaks to the superlative one-two punch behind the Greta Gerwig-directed feature: ubiquitous build-up marketing and the perception of quality that delivered.
The hot-pink fantasia will push its domestic total beyond $350 million this weekend, already making it the fourth-highest grossing North American release of the year in just 10 days. It’ll likely pass “Spider-Man: Across the Spider-Verse” ($377 million) and “Guardians of the Galaxy Vol. 3” ($358 million) within the next week, only leaving “The Super Mario Bros. Movie” ($574 million) ahead of it on 2023 charts.
Universal’s “Oppenheimer” is maintaining second place, projecting a $46 million haul from 3,647 theaters. That’d notch an impressive 44% drop from its opening and would be enough to rank as the fifth-biggest sophomore outing ever for an R-rated release.
The Christopher Nolan feature would probably have landed an even stronger hold if it wasn’t playing strongly throughout the week. On Thursday, “Oppenheimer” became the first R-rated release to sell more than $10 million in tickets for seven days in a row. A big factor to that is the film’s play in Imax. Audiences believe that a Nolan feature demands a huge screen; that’s left consumers motivated to set aside time during the week to land a ticket for one of those premium large formats.
“Oppenheimer” should push its domestic haul to $173 million through Sunday, enough to slot it as the eighth-highest grossing North American release of the year after 10 days of release. It’s already the biggest non-IP production of the year too.
“Sound of Freedom” looks to take fourth, with rivals projecting another slim drop (-31%) this weekend, for a $13 million gross through the three-day frame. The film was acquired by Angel Studios from 20th Century Studios after the acquisition of Fox by Disney; it’s proven a wise investment. Rolling Stone has deemed “Sound of Freedom” a “QAnon-tinged thriller” that targets “the conscience of a conspiracy-addled boomer” — but controversy has likely only gotten more eyeballs on the film as religious and conservative media groups rally behind it.
With a total domestic gross likely reaching $150 million this weekend, a finish above $200 million and among the top 10 highest-earners of the year does seem to be in the cards. Angel Studios has instituted an unconventional “Pay It Forward” system, allowing people to donate money to the distribution banner so that the studio can purchase tickets for its own movie and distribute them for free. The company touts the initiative as a tool to raise awareness on child trafficking. Regardless of what fraction of those admissions end up redeemed, that’s all still money in the pocket for exhibitors.
Rounding out the top five, “Mission: Impossible — Dead Reckoning Part One” is relishing a softer fall in its third weekend, down 44% from its sophomore outing. The Tom Cruise action sequel faced a sharper tumble than expected last week at 64.6% — not an auspicious development for a franchise that has usually enjoyed long runs at the box office.
The Paramount release will hit $139 million through Sunday, still tracking behind what its predecessor “Fallout” earned through the same stretch of time ($161 million). With a production budget skirting $300 million, “Dead Reckoning” has been dealt a tough hand at the box office, facing stiff competition for viewers by contending against “Barbie,” “Oppenheimer” and even “Sound of Freedom.”
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Meanwhile Elemental keeps chugging along.
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https://finance.yahoo.com/news/disn...massive-extra-disruptive-event-163725086.html
Disney's ESPN streaming transition to be 'massive, extra disruptive event'
Alexandra Canal · Senior Reporter
Sun, July 30, 2023 at 11:37 AM CDT
Disney (DIS) is having a tough year.
The company's parks business is slowing. Its linear TV business is declining, and so are subscribers to its flagship streaming service Disney+.
That makes the move to take sports network ESPN fully over-the-top as high-stakes as it can get. Sports has long been viewed by the industry as a key content category to lure in loyal viewers.
The risk, though, is that while audiences are willing to pay for the network as part of the traditional cable bundle, they may not be so interested in subscribing to a standalone streaming service.
But its one Disney CEO Bob Iger seems willing to take.
"Sports stands very tall in the media landscape for its ability to convene millions of people all at once," Iger said earlier this month, reiterating his bullish stance on ESPN and confirming plans to take the network fully over-the-top as a direct-to-consumer (DTC) platform.
Analysts and media watchers have cautioned the full transition to streaming will be a difficult journey, particularly when it comes to consumers footing the bill for an additional streaming service versus watching sports as part of the cable bundle.
ESPN charges pay-TV operators between $8 and $9 per subscriber, according to an estimate from SNL Kagan. To compare, ESPN+'s average revenue per user is $5.64.
"In a future world of streaming, it's à la carte, meaning if you want to pay for it you have to actually go out and pay for it. There isn't going to be somebody subsidizing you," Brandon Nispel, equity research analyst at KeyBanc Capital Markets, told Yahoo Finance.
Nispel, who has a Sector Weight rating on the stock, pointed to recent KeyBanc survey data that showed a "low willingness to pay."
In a note published on June 29, the analyst wrote, "Who's going to pay $30+/month for ESPN? Not many."
Disney hasn’t disclosed any details regarding pricing, although analysts have estimated the service would need a minimum cost of around $30 a month in order to break even — let alone turn a profit.
"From our survey work, we found consumer interest in sports is relatively high in linear, though willingness to pay in streaming is low: we found >25% of subscribers would not be willing to pay for a pure sports streaming service, 46% of subscribers would be willing to pay <$10/month, and 26% would pay >$20/month."
"The future profitability in sports is really the question," Nispel said. "How many people would sign up and then what's the profitability profile? Going from linear to streaming is much more difficult, because you don't have the masses subsidizing."
Macquarie analyst Tim Nollen agreed, telling Yahoo Finance, "It's a huge, huge risk to massively disrupt the bundle, which is already [in decline.] It's just a massive, extra disruptive event to put sports completely streaming over-the-top."
The analyst, who has a Neutral rating on Disney and $94 price target, added ESPN would likely have to offer different incentives, along with the ability to turn the service on and off given the fragmented nature of sports fans.
"There are a lot of people that might be sports specific," the analyst said. "So you might not necessarily want the thing year-round, or you might only want it for the first two months of the season."
As a result, ESPN will likely "have to give that minimum price to generate as many possible subscribers as they can, but the real way to make money is going to be from targeted advertising on the service," he continued.
On top of pricing, another question revolves around how many subscription services people are even willing to pay for, especially within streaming's oversaturated marketplace. ESPN+ currently boasts 25.3 million subscribers.
"The consumer taps out at 7 to 8 streaming services a month [at] about $60 to $70 a month," Mark Boidman, partner and global head of media at Solomon Partners, told Yahoo Finance.
"So what happens then? People go to bars to watch sports for free, they go to a friend's house to watch it, they try to find it for free on some site. Young people are even fine just watching the highlights on TikTok," he said.
Still, Boidman maintained he continues to see value in sports. After all, ESPN has seen an uptick in TV viewership, which climbed 8% year-over-year in 2022, despite sharp declines in linear subscribers, which dropped to 74 million at the end of last year from 100 million in 2011, according to an SEC filing.
But that value may diminish over time as the transition to streaming takes hold.
"The question is will [sports be valued] the same way as it had been valued historically, because everybody who had a TV subscription was indirectly paying for sports, even if they didn't watch any sports. That's going to certainly change because people are no longer going to be paying for things that they don't want to consume," he said.
"For streaming, there will be value, and it'll be paid for by consumers directly and paid for by advertising and paid for by packaging sports content into Prime-type memberships or other things. So people will still pay for sports indirectly, but they may not pay for it directly and certainly not at those [historic] price points."
Who will be ESPN's strategic partner?
Disney's Iger said the company is open to strategic partners, either through a joint venture or part ownership, to enable ESPN to make the transition to DTC.
In an interview with CNBC earlier this month, Iger said he's looking for partners that "come with value" — whether that be content value, distribution value, or capital value to de-risk the business. If that's found, "we're going to be very open-minded about that." He said there have been "some" conversations with possible partners but did not elaborate on potential names or timelines.
On Thursday, Comcast President Mike Cavanagh shot down the possibility of NBC partnering with Disney.
"I've been asked about and read the speculation that, in some way, we might be interested in swapping businesses [with Disney] as part of what's going on in the sports space," he said.
"I would just say that, that's very improbable given [there's] tremendous issues around tax, minority shareholders, and structuring generally. So I would put aside the idea that there's anything inorganic that is likely to happen around ESPN, in particular."
Disney has held exploratory talks with major sports leagues including the NFL, NBA, and MLB regarding strategic partnerships, according to a source with knowledge of Disney's plans.
"I really struggled with understanding why the leagues would do that," KeyBanc's Nispel said. "It seems almost like a conflict of interest, if you will, because the leagues get paid by ESPN. If they have ownership in ESPN, they would be sort of favored to continue to provide the rights to ESPN over others."
Nispel said Disney will likely need to find multiple partners and that the media giant will need to make "difficult decisions" in terms of the content they keep in order to capture the broadest audience possible.
Iger, who appeared at Apple's Worldwide Developer Conference (WWDC) in June, touted a new collaboration between the two companies focused on Apple's recently announced VR headset, which Iger said "lends itself to sports."
At the time, the executive revealed users will be able to watch movies and TV shows from Disney+, in addition to a more immersive sports viewing experience.
Another bonus? Apple has a lucrative deal with Major League Soccer (MLS), which has recently seen a boost following international soccer star Lionel Messi's decision to join MLS.
"Streaming is a lower margin business and the only way that it really works is through global distribution," Nispel said, calling out the potential upside with Apple and its MLS partnership.
The analyst said, at this point, Disney is likely considering all options: "I think it goes down the list of basically everybody."
Disney will report quarterly earnings results, which will include a separate breakdown of ESPN's business, on Aug. 9.
Disney's ESPN streaming transition to be 'massive, extra disruptive event'
Alexandra Canal · Senior Reporter
Sun, July 30, 2023 at 11:37 AM CDT
Disney (DIS) is having a tough year.
The company's parks business is slowing. Its linear TV business is declining, and so are subscribers to its flagship streaming service Disney+.
That makes the move to take sports network ESPN fully over-the-top as high-stakes as it can get. Sports has long been viewed by the industry as a key content category to lure in loyal viewers.
The risk, though, is that while audiences are willing to pay for the network as part of the traditional cable bundle, they may not be so interested in subscribing to a standalone streaming service.
But its one Disney CEO Bob Iger seems willing to take.
"Sports stands very tall in the media landscape for its ability to convene millions of people all at once," Iger said earlier this month, reiterating his bullish stance on ESPN and confirming plans to take the network fully over-the-top as a direct-to-consumer (DTC) platform.
Analysts and media watchers have cautioned the full transition to streaming will be a difficult journey, particularly when it comes to consumers footing the bill for an additional streaming service versus watching sports as part of the cable bundle.
ESPN charges pay-TV operators between $8 and $9 per subscriber, according to an estimate from SNL Kagan. To compare, ESPN+'s average revenue per user is $5.64.
"In a future world of streaming, it's à la carte, meaning if you want to pay for it you have to actually go out and pay for it. There isn't going to be somebody subsidizing you," Brandon Nispel, equity research analyst at KeyBanc Capital Markets, told Yahoo Finance.
Nispel, who has a Sector Weight rating on the stock, pointed to recent KeyBanc survey data that showed a "low willingness to pay."
In a note published on June 29, the analyst wrote, "Who's going to pay $30+/month for ESPN? Not many."
Disney hasn’t disclosed any details regarding pricing, although analysts have estimated the service would need a minimum cost of around $30 a month in order to break even — let alone turn a profit.
"From our survey work, we found consumer interest in sports is relatively high in linear, though willingness to pay in streaming is low: we found >25% of subscribers would not be willing to pay for a pure sports streaming service, 46% of subscribers would be willing to pay <$10/month, and 26% would pay >$20/month."
"The future profitability in sports is really the question," Nispel said. "How many people would sign up and then what's the profitability profile? Going from linear to streaming is much more difficult, because you don't have the masses subsidizing."
Macquarie analyst Tim Nollen agreed, telling Yahoo Finance, "It's a huge, huge risk to massively disrupt the bundle, which is already [in decline.] It's just a massive, extra disruptive event to put sports completely streaming over-the-top."
The analyst, who has a Neutral rating on Disney and $94 price target, added ESPN would likely have to offer different incentives, along with the ability to turn the service on and off given the fragmented nature of sports fans.
"There are a lot of people that might be sports specific," the analyst said. "So you might not necessarily want the thing year-round, or you might only want it for the first two months of the season."
As a result, ESPN will likely "have to give that minimum price to generate as many possible subscribers as they can, but the real way to make money is going to be from targeted advertising on the service," he continued.
On top of pricing, another question revolves around how many subscription services people are even willing to pay for, especially within streaming's oversaturated marketplace. ESPN+ currently boasts 25.3 million subscribers.
"The consumer taps out at 7 to 8 streaming services a month [at] about $60 to $70 a month," Mark Boidman, partner and global head of media at Solomon Partners, told Yahoo Finance.
"So what happens then? People go to bars to watch sports for free, they go to a friend's house to watch it, they try to find it for free on some site. Young people are even fine just watching the highlights on TikTok," he said.
Still, Boidman maintained he continues to see value in sports. After all, ESPN has seen an uptick in TV viewership, which climbed 8% year-over-year in 2022, despite sharp declines in linear subscribers, which dropped to 74 million at the end of last year from 100 million in 2011, according to an SEC filing.
But that value may diminish over time as the transition to streaming takes hold.
"The question is will [sports be valued] the same way as it had been valued historically, because everybody who had a TV subscription was indirectly paying for sports, even if they didn't watch any sports. That's going to certainly change because people are no longer going to be paying for things that they don't want to consume," he said.
"For streaming, there will be value, and it'll be paid for by consumers directly and paid for by advertising and paid for by packaging sports content into Prime-type memberships or other things. So people will still pay for sports indirectly, but they may not pay for it directly and certainly not at those [historic] price points."
Who will be ESPN's strategic partner?
Disney's Iger said the company is open to strategic partners, either through a joint venture or part ownership, to enable ESPN to make the transition to DTC.
In an interview with CNBC earlier this month, Iger said he's looking for partners that "come with value" — whether that be content value, distribution value, or capital value to de-risk the business. If that's found, "we're going to be very open-minded about that." He said there have been "some" conversations with possible partners but did not elaborate on potential names or timelines.
On Thursday, Comcast President Mike Cavanagh shot down the possibility of NBC partnering with Disney.
"I've been asked about and read the speculation that, in some way, we might be interested in swapping businesses [with Disney] as part of what's going on in the sports space," he said.
"I would just say that, that's very improbable given [there's] tremendous issues around tax, minority shareholders, and structuring generally. So I would put aside the idea that there's anything inorganic that is likely to happen around ESPN, in particular."
Disney has held exploratory talks with major sports leagues including the NFL, NBA, and MLB regarding strategic partnerships, according to a source with knowledge of Disney's plans.
"I really struggled with understanding why the leagues would do that," KeyBanc's Nispel said. "It seems almost like a conflict of interest, if you will, because the leagues get paid by ESPN. If they have ownership in ESPN, they would be sort of favored to continue to provide the rights to ESPN over others."
Nispel said Disney will likely need to find multiple partners and that the media giant will need to make "difficult decisions" in terms of the content they keep in order to capture the broadest audience possible.
Iger, who appeared at Apple's Worldwide Developer Conference (WWDC) in June, touted a new collaboration between the two companies focused on Apple's recently announced VR headset, which Iger said "lends itself to sports."
At the time, the executive revealed users will be able to watch movies and TV shows from Disney+, in addition to a more immersive sports viewing experience.
Another bonus? Apple has a lucrative deal with Major League Soccer (MLS), which has recently seen a boost following international soccer star Lionel Messi's decision to join MLS.
"Streaming is a lower margin business and the only way that it really works is through global distribution," Nispel said, calling out the potential upside with Apple and its MLS partnership.
The analyst said, at this point, Disney is likely considering all options: "I think it goes down the list of basically everybody."
Disney will report quarterly earnings results, which will include a separate breakdown of ESPN's business, on Aug. 9.
Cue the band on the titanic.
Disney Bobby
DIS Veteran
- Joined
- Jun 18, 2019
- Messages
- 710
No kidding. Icebergs everywhere.
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