Business

Oct

22

2021

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By Troy Warren

Ugly Christmas sweaters, other holiday goods held up in ports

Business, In The NewsBusiness, SupplyChainShortages

By Susan Tompor, Detroit Free Press Troy Warren for CNT #Business ‘There’ll definitely be a shortage,’ one business owner said Go back just a year ago and it wouldn’t have mattered that three 40-foot corrugated metal shipping containers stuffed with thousands of ugly holiday sweaters couldn’t make their way out of a California port. Who was going out to the bars? Or heading to a big family dinner? Who worried about buying a new quirky sweater when life looked grim as COVID-19 cases soared? Fred Hajjar, president of Michigan-based UglyChristmasSweater.com, sold a lot of holiday lounge pants and pajamas last year as…

Oct

19

2021

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By Troy Warren

Netflix Adds 4.4M New Subscribers in Third Quarter, Surpassing Projections

Business, DigitalBusiness, Digital, Netflix

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Digital #Business The streaming giant projected it would add 3.5 million new subscribers in Q3. Netflix added 4.4 million new subscribers in the third quarter of 2021 for a total of 214 million paid subscribers. The subscriber adds surpass Netflix’s modest projections that it would add 3.5 million subscribers in Q3. Last quarter, the company saw its total subscriber base increase by 1.5 million, though Netflix lost around 400,000 subscribers in the U.S. and Canada. In Q1, the company failed to meet its projections, adding only 4 million new subscribers — 2 million short of…

Oct

17

2021

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By Troy Warren

Fox Plans NFT Debut With $20 ‘Masked Singer’ Collectibles

Business, Digital, TechnologyDigital, Fox, Technology

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Digital #Technology The NFT packs mark the broadcaster's first foray into the area, with other projects like 'Krapopolis' to follow. Fox’s plans in the digital collectibles space are beginning to get a little clearer. The broadcast network will launch its first set of non-fungible tokens (NFTs) Wednesday, tied to its celebrity singing competition The Masked Singer. The company will also launch a marketplace and community in which users can buy, sell or trade Masked Singer NFTs, which it is calling The MaskVerse. Users will be able to claim a free NFT of the show’s mascot “Miss Masky,”…

Oct

17

2021

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By Troy Warren

Amid Controversy, Netflix Earnings In Focus for Wall Street

BusinessBusiness

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT #Business As fallout from a Dave Chappelle special makes headlines, observers will also look for updates on new business initiatives, such as a push into video games and consumer products. After struggling earlier this year, Netflix’s stock has gained as of late and even hit an all-time high earlier in October as investor sentiment turned more positive on the launch of global success Squid Game and the addition of library TV staple Seinfeld. But, since the debut of Dave Chappelle: The Closer on Oct. 5, the streaming giant has been at the center of a growing controversy over…

Oct

11

2021

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By Troy Warren

Disney+ to Surpass Netflix in 2025, Hit 284M Subscribers in 2026, Analyst Forecasts

Business, EntertainmentBusiness, Entertainment

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT #Business #Entertainment "Three platforms will control nearly half the world's SVOD subscriptions by 2026," according to Digital TV Research. While the Walt Disney’s Disney+ streaming service may have hit a speed bump as of late, it will reach more subscribers than Netflix by 2025, according to an analyst’s latest forecast. Research firm Digital TV Research shared the prediction in a report, projecting that the number of subscribers to Disney+ would reach 284.2 million in 2026, down from a 294.0 million estimate the firm had made earlier in the year. Netflix will in 2026 have 270.7…

Oct

10

2021

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By Troy Warren

Phoenix: Use Sky Harbor airport to pay down Phoenix’s pension debt? The idea might just fly

Business, City NewsBusiness, CityNews, PhoenixNewsAndTalk

Leonard Gilroy | AZCentral.Com Troy Warren for PhoenixNewsAndTalk.Com #Business Despite a booming economy and recovering tax revenues, Phoenix remains awash in nearly $5 billion in unfunded pension liabilities. This pension debt acts as a fiscal albatross, forcing the city to dedicate approximately $400 million of its budget toward pension costs and related debt service each year. The concern even prompted a citizens initiative two years ago that would have frozen most new city spending until the debt is paid down, but voters rejected the idea of constraining spending on city programs to focus on pension debt reduction. At the City Council’s direction, city staff are…

Oct

10

2021

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By Troy Warren

Trump hotel lost $70 million during presidency, got help from bank

BusinessBusiness

By BERNARD CONDON, Associated Press Troy Warren for CNT #Business NEW YORK — Former President Donald Trump’s company lost more than $70 million operating his Washington, D.C., hotel while in office, forcing him at one point to get a reprieve from a major bank on payments on a loan, according to documents released Friday by a House committee investigating his business. In addition to the payment delay, the Trump Organization also had to inject $27 million from other parts of its business to help the hotel, according to documents released by the House Committee on Oversight and Reform. The committee said…

Oct

09

2021

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By Troy Warren

Lena Waithe’s Hillman Grad Productions, Audible Strike Multi-Project Deal

Business, DigitalBusiness, Digital, LenaWaithe

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT #Digital #Business The first project in development is a comedy series inspired by the life of Kym Whitley. Audible has struck a multi-project development deal with Lena Waithe and Rishi Rajani’s Hillman Grad Productions. The first project in the deal is an original comedy series, Kym, inspired by the actress and comedian Kym Whitley’s life. Whitley will star in the series and executive produce through her Kwik Whit Productions banner. “We’re so excited to be expanding into the podcast space in collaboration with Audible and continuing our mission to tell human stories,” Waithe and Rajani said…

Oct

07

2021

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By Troy Warren

How Will Paramount’s New Film Chief Remake the Studio?

BusinessBusiness

BY PAMELA MCCLINTOCK | HollywoodReporter.Com Troy Warren for CNT #Business Brian Robbins hopes to convince A-list talent (he calls Tom Cruise daily) that he cares about theatrical and big-budget bets as he restructures the division for the streaming era. The Beverly Hills Hotel and its Polo Lounge are symbols of Hollywood, the intersection of executives, celebrities and the ultimate power lunch. So it was a fitting place for a meeting between Brian Robbins, the newly anointed president and CEO of Paramount Pictures, and Emma Watts, the president of its motion pictures group. Following the unceremonious ouster of her former boss, veteran studio chief…

Oct

07

2021

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By Troy Warren

Comcast’s Sky Unveils Sky Glass Streaming TV, Eliminating Need for Satellite Dish

BusinessBusiness

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT #Business The European pay TV giant had promised "something magical," with Comcast CEO Brian Roberts telling a London event: "The big idea was to reimagine television Sky's role in the living room." Comcast-owned European pay TV giant Sky has unveiled a broadband-powered TV set, dubbed “Sky Glass,” that doesn’t require a satellite dish to access its full suite of services and has new features, including a playlist that compiles content from across Sky and streaming services. The product will launch in the U.K. later this month, followed by other markets next year.…

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