| | | | What's news: Disney plans to layoff 7,000 people. Disney+ now has 161.8m global subscribers. UTA will undergo a round of layoffs. Hybe has acquired influential hip-hop label Quality Control Music. Netflix has begun its password crackdown in four markets. Hugh Laurie is joining Apple's Tehran. — Abid Rahman |
Iger Outlines New Disney Structure, Plan for 7,000 Job Cuts ►Brutal. Disney CEO Bob Iger has revealed significant changes to the company's structure which includes plans for 7,000 layoffs. Iger has effectively dismantled the Disney Media and Entertainment Distribution group created by former CEO Bob Chapek in 2020. The new structure will have three divisions: Disney Entertainment, which will include the film and TV assets, as well as Disney+; ESPN, which will include ESPN and ESPN+; and Parks, Experiences and Products, which will include the theme parks and consumer products teams. The story.
—Beating Wall Street expectations. Disney reported stronger revenues and earnings than anticipated in Q1, with total revenues of $23.5b, up 8 percent from a year ago, with total segment operating income of $3b, down 7 percent from a year ago. Disney+ global subscribers declined by 1 percent in Q1 to total 161.8m, due to lower results at Disney+ Hotstar (down 6 percent), and with U.S. and Canada essentially flat (46.6m in Q1, compared to 46.4m last quarter). The results.
—"ESPN is a differentiator for this company." Despite a newly unveiled business structure at Disney, which sees ESPN in its own division at the company, Iger said he has no plans to spin off the sports brand. The exec said that the new structure was not designed with a spin-off in mind, though he added that he anticipated that questions about a sale would come up. The story.
—"We are going to take a really hard look at the cost for everything that we make." Also on Wednesday, Iger said Disney is targeting multi-billion dollars in content savings over the next few years, excluding sports. This will be an annualized savings target of $3b of future spending, CFO Christine McCarthy later clarified. Disney still expects its content spending to remain “in the low $30b range” for fiscal 2023. The story.
—"We are leaning into our unrivaled brands." In more cheery news, Iger also teased that more installments are in the works for animated franchises Toy Story, Frozen and Zootopia. Throughout the earnings call, Iger stressed again and again the importance of curating the company’s marquee brands and franchises. He provided no further details about creative teams involved in the development process for the new sequels. The story. |
Behind Showtime's Franchise Frenzy ►"No one wants to take risks." In plotting Dexter and Billions expansions, Paramount exec Chris McCarthy is taking a page from the Yellowstone playbook that has made the Taylor Sheridan Western into a multiple-show hit for Paramount+. THR's Lesley Goldberg writes that Showtime's moves are part of an industry-wide push for known and safe properties as recession looms. The analysis.
—That's my boy. CBS has handed out a pilot order to an untitled multicamera comedy set to star Damon Wayans and Damon Wayans Jr. The project will be co-written by former Last Man Standing showrunner Kevin Hency as well as the senior of the Wayans duo. The potential series, which is produced in-house at CBS Studios, revolves around legendary talk radio host who is still parenting his adult son. The story.
—Looking for that Abbott magic. NBC has ordered a comedy pilot titled St. Denis Medical whose description reads like a version of ABC’s breakout Abbott Elementary, albeit set in a different workplace. The project, NBC’s first comedy pilot order of the season, comes from American Auto and Superstore creator Justin Spitzer and Eric Ledgin, a writer and producer on both shows. The story. |
Super Bowl Ads 2023: The Year When Brands Split Costs ►Sharing is caring. When viewers watching the Super Bowl stick around for the always anticipated commercial breaks, they may find a bit more than they bargained for. THR's Alex Weprin writes that in an era of media austerity, and with the advertising market crumbling, blue-chip names are increasingly seeking partners to team up on expenses. The analysis.
—"We’ve grown a great deal over the last several years, and as a result decided to make some adjustments." United Talent Agency, which had been on an acquisition spree nabbing multiple boutique firms, is undergoing a round of layoffs, the company said Wednesday. The cuts at the agency are said to be impacting a single digit percentage of a workforce that totals 2,000 employees. The story.
—Ambitious expansion. South Korean music giant Hybe, the company that developed k-pop phenoms BTS, has acquired Atlanta-based QC Media Holdings, the parent company of influential hip-hop label Quality Control Music, home to Migos, Lil Yachty and Lil Baby. The deal is worth approximately $300m and will see QC fall under the umbrella of Hybe America that is run by Scooter Braun. The story.
—It begins... for some. Netflix on Wednesday began its shared account crackdown in four markets — Canada, New Zealand, Portugal and Spain — as the streaming giant seeks to convert moochers into paying subscribers. As part of the rollout, primary account holders will be required to set the location of their household, which is defined as people who live in the same location as the primary subscriber. The story. |
'RRR' Star Ram Charan Explains the Film's Global Appeal ►"Cinema has only one language." THR's Brian Davids spoke to RRR star Ram Charan about the phenomenal success S.S. Rajamouli’s action juggernaut and why global audiences have vibed with the film so much. Charan also discusses the most challenging days of the three-year shoot and his hopes of crossing over into an American blockbuster franchise, such as the MCU or Mission: Impossible. The interview.
—🎭 Accent alert 🎭 The International Emmy-winning drama Tehran is getting a third season at Apple TV+ — and adding Hugh Laurie to its cast. The English actor will play Eric Peterson, a South African nuclear inspector. His casting follows that of Glenn Close, who appeared in season two of the Israeli spy thriller. The story.
—🎭 Heartbreaking true story 🎭 Shazam! star Zachary Levi is set to take the lead in survival thriller Not Without Hope. Adapted from Nick Schuyler and Jere Longman’s best-selling novel of the same name, the film is written and directed by Joe Carnahan (The Grey). Based on a true story, the film follows best friends Schuyler (Levi) and Will Bleakley, and NFL players Marquis Cooper and Corey Smith who go on a fishing trip in the Gulf of Mexico but get trapped in a severe storm. The story.
—🎭 Lead found 🎭 Netflix has cast Emmy winner Colman Domingo to star in a limited series titled The Madness. The eight-episode conspiracy thriller, which the streamer has picked up to series, comes from creator Stephen Belber (The Laramie Project, HBO’s O.G.) and Chernin Entertainment, which has a first-look deal with Netflix. The story. |
The Grammys Are Big — But Not as Big as Beyoncé ►"[The voters] will never understand the music." Beyoncé has lost the album of the year Grammy four times. THR's Mesfin Fekadu writes that the lack of wins in the biggest category doesn't matter because Queen Bey is above the Grammys, and she doesn't need the awards show's validation to prove she's a game-changing icon. The critic's notebook.
—"I am caught in the glare of ageism and misogyny." Madonna has responded to social media criticism of her face following her appearance at the Grammys. In an Instagram post, the music icon says that close up photos of her taken by long lens cameras “would distort anyone’s face” and were a distraction from the historic win of trans music artist Kim Petras and nonbinary singer Sam Smith, whose performance of “Unholy” she introduced at the awards show. The story.
—"Everything I saw publicly was wrong." Steven Soderbergh has addressed press reports about Thandiwe Newton's exit from Magic Mike's Last Dance. In a new interview, Soderbergh didn't give specifics on what led to Newton's departure during production but did expound on how the role changed when Salma Hayek Pinault came on board the project. The story.
—"My heart was broken in nine million pieces." Elizabeth Chambers says she was learning about ex-husband Armie Hammer’s sexual abuse allegations and fetishes “as the public was,” and it left her speechless. In a new interview, the former Current TV anchor opened up about how she and Hammer fell in love, how their relationship was reshaped by his increasing fame and how towards the end — around the same time as the allegations emerged — he had become “the worst.” The story.
—"I am supposed to be SMART, ma’am. I don’t need to be muscly." The Last of Us star Melanie Lynskey took on social media criticism of her casting on the popular HBO series. The actress, who plays Kathleen, addressed a tweet from America’s Next Top Model first-season winner Adrianne Curry that stated: "Her body says life of luxury." Lynskey later tweeted praise for the showrunners encouraging her to embody a character who is original to the series and wasn’t necessarily "the coolest or the toughest person." The story. |
TV Review: 'Not Dead Yet' ►"Takes four bland episodes to show any potential." THR's chief TV critic Dan Fienberg reviews ABC's Not Dead Yet. In her TV comeback, Gina Rodriguez plays a journalist who sees dead people and uses them to help her write obituaries in a new sitcom from creators David Windsor and Casey Johnson. The review.
In other news...
—Owen Wilson follows in Bob Ross’ footsteps as quirky TV artist in Paint trailer
—SAG Awards names Antonia Gentry and Haley Lu Richardson as ambassadors
—Seth MacFarlane returns to WME after CAA run
—Former IMG exec launches sports, media, entertainment private equity firm
—Casa Madera and four other new Los Angeles restaurants to try now
—Hollywood-famous eateries Uncle Paulie’s Deli and Irv’s Burgers to open in Las Vegas
What else we're reading...
—Julia Jacobs writes that the video game Hogwarts Legacy can’t cast aside the debate over J.K. Rowling's views on trans issues [NYT]
—Andrea Long Chu argues The Last of Us is not a video-game adaptation [Vulture]
—Angelina Chapin reports on the "horned up" office culture at ABC News where "it felt like everybody was sleeping around" [The Cut]
—Jesse Hassenger looks back to 1993, when the spoof movie genre was at its zenith [Paste]
—Here's Jeremy D. Larson's review of Italian rockers Måneskin's first English-language album Rush! that has social media talking (this is, genuinely, incredible writing) [Pitchfork]
Today...
Today's birthdays: Michael B. Jordan (36), Mia Farrow (78), Tom Hiddleston (42), Zhang Ziyi (44), Judith Light (74), Fede Alvarez (45), Charlie Day (47), Rose Leslie (36), Margarita Levieva (43), Ciarán Hinds (70), Joe Pesci (80), Julie Warner (58), Matty Cardarople (40), Jason George (51), Camille Winbush (33), Rawson Marshall Thurber (48), Christian Gudegast (53), Heidi Moneymaker (45), A.J. Buckley (46), Amber Valletta (49), Avan Jogia (31), Rachel Melvin (38) |
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