Hollywood Buzz: July 2024
By Natalie Lifson, Agent Trainee at Buchwald and your co-Editor-in-Chief at THA
Everything you may have missed in the trades last month...
News
Discovery Shareholders Win $125M Settlement Of Lawsuit Alleging AT&T Merger “Wasn’t Entirely Fair” To Most Investors -Deadline, 7/6
AMC Inks Expanded Deal With Netflix, Bringing 13 Series to Streaming Giant -THR, 7/16
Taylor Swift, Olivia Rodrigo, K-Pop Acts See a Huge Boost in 2024 Sales With ‘Variants’: The Same Album in Different Packages -Variety, 7/16
Reality TV Filming Plummets in Los Angeles in Major Production Slowdown -THR, 7/17
Emmys Diversity Report 2024: Record Year for Indigenous Actors, Increases for People of Color Across All Noms -Variety, 7/17
Netflix Dismisses Idea Of Bundling With Rival Streamers Like Disney+ & Max -Deadline, 7/18
SAG-AFTRA Beats Lawsuits Challenging COVID Vaccination Rules -THR, 7/19
How the NBA’s Slam-Dunk Deals Will Reshape TV -THR, 7/31
The league’s $76 billion worth of long-term rights agreements may usher in a massive transfer of wealth from Hollywood, shifting spending from scripted programming to sports.
More on this below.
BAFTA Film Awards Adds New Children’s and Family Category, Introduces Points System for Outstanding British Film Eligibility -Variety, 8/2
Warner Bros. Discovery is suing the NBA to keep TBS basketball rights. WBD had exercised its right to match the reported $1.8 billion offer the league had accepted from Amazon for games in the 2025-26 through 2035-36 seasons, but the NBA asserted WBD’s offer failed to match the terms of Amazon’s. The lawsuit accuses the NBA of being in breach of contract. -Cynopsis, 7/29
Paramount Global announced that they will be acquired by Skydance, with a caveat - if Paramount’s owner (National Amusements) gets a better offer before August 21st, they can pay Skydance a $400 million fee to break the contract and accept the other offer instead. -THR -7/7
See a timeline of the Paramount x Skydance Acquisition HERE
Unions
More information on union strikes and negotiations HERE.
IATSE Ratifies New 3-Year Deal With AMPTP, Despite AI Worries -Variety, 7/18
After failed attempts to renegotiate their Interactive Media Agreement with video game companies, SAG-AFTRA is currently on strike against 10 major video companies who are not willing to meet their demands. -Deadline, 7/25
Teamsters, Basic Crafts Reach Tentative Deal With Studios Just Before July 31 Contract Expiration -Deadline, 7/28
Layoffs
July 2024 layoffs include CNN, Warner Bros. Discovery, Disney Entertainment Television, Redbox, Fox Entertainment, Entertainment Tonight, BBC, PlayStation, ITV Studios
More on layoffs HERE
New Production Companies & Initiatives
Fox’s Tubi Launches in U.K. With Focus on Fandoms, Including Bollywood, Nollywood and Arthouse -THR, 7/1
Berlin Film Festival Launches New Competitive Section For Debut Films -Deadline, 7/2
The San Quentin Film Festival, the first-ever film festival held inside a prison, will highlight short films and pitches from current and formerly incarcerated filmmakers in front of a jury made up of entertainment industry artists and executives. -Variety, 7/9
Imagine Entertainment, Adobe and The Film Zone Announce ‘From Minutes to Movies ShortFest’ -Variety, 7/9
CNN Plans Launch of Digital Subscription Product by End of 2024 Amid Newsroom Layoffs -Variety, 7/10
Hallmark+ Streaming Service to Launch in Fall -Variety, 7/11
AI Company Pigeon Shrine Launches AiMation Studios With Slate Of Film & TV Projects -Deadline, 7/24
Moses Babatope Launches Nile Media Entertainment Group, Sets Female-Led Executive Team -Variety, 7/25
Scott Stuber to Relaunch United Artists studio label under Amazon MGM. -THR, 7/26
SiriusXM Launches Subscription Service for Top Podcasts -THR, 8/1
AI
CNN to Lay Off 100 Staffers as It Preps Major Revamp of Digital Efforts -THR, 7/10
CNN CEO Mark Thompson told staff Wednesday that its first digital subscription product will launch this year, and that it is exploring a "strategic push into AI."
An AI Company named “Flawless,” built by filmmakers and scientists, may revolutionize how dialogue is re-dubbed into different languages. -Variety, 7/11
Ted Sarandos on AI – Creative Storytelling Rules, It’s Good Business “Making Content 10% Better” Not “50% Cheaper” -Deadline, 7/18
Top Hollywood Law Firm, Venable LLP, Launches Service to Combat Soaring Celebrity Deepfake Phenomenon. -Variety, 7/24
AI Company Pigeon Shrine Launches AiMation Studios With Slate Of Film & TV Projects -Deadline, 7/24
Studios Throw Support Behind SAG-AFTRA-Backed, Bipartisan Bill Regulating AI Digital Replicas Upon Senate Introduction -Deadline, 7/31
NBA Rights Race
July 2: Sports TV’s Multibillion-Dollar Rights Race -THR
The huge escalation in fees is big for the major leagues and a lesson in basic economics for media companies: When something of great value is relatively scarce, the price is going to be high.
Timeline
July 22: Warner Bros. Discovery Says It Will Match Amazon’s NBA Bid, Setting Up Showdown Over Rights -THR
July 24: NBA Rejects Warner Bros. Discovery’s Rights Proposal -THR
July 24: Warner Bros. Discovery Says NBA Can’t Reject Matching Offer: ‘We Will Take Appropriate Action’ -Variety
July 26: Warner Bros. Discovery Sues the NBA After League Rejects Matching Rights Proposal -THR
July 31: How the NBA’s Slam-Dunk Deals Will Reshape TV -THR
The league’s $76 billion worth of long-term rights agreements may usher in a massive transfer of wealth from Hollywood, shifting spending from scripted programming to sports.
Awards
Helpful Articles
“Inside the IATSE Basic Agreement Deal: New Streaming Residuals, More Safety Officers and AI Guardrails” -THR, 7/1
“FAST Platforms Had Bigger TV Share Than Many Premium Streamers Once Again In June — What Is Driving Their Success?” -Deadline, 7/16
Would You Do It Again? A Year After Strikes, Hollywood Reckons With the Aftermath -THR, 7/19
Deadline’s “Hollywood Mental Health Crisis” series
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