Business

Jan

09

2022

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By Troy Warren

Roku Platform Chief Scott Rosenberg Stepping Down

BusinessBusiness, Roku, ScottRosenberg

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business Roku CEO Anthony Wood said Rosenberg was "ready for his next professional challenge." The head of Roku’s lucrative platform business, Scott Rosenberg, will step down later this spring, the company said Friday. In a statement, the company suggested that Rosenberg was leaving for another opportunity. “While Scott remains deeply invested in the company’s success, he’s ready for his next professional challenge and believes this is the right timeframe for him to make a change. I respect and fully support his decision,” said Roku CEO Anthony Wood in a statement. “I look…

Jan

06

2022

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By Troy Warren

ViacomCBS and WarnerMedia Exploring Sale of The CW

BusinessBusiness, CW, ViacomCBS, WarnerMedia

BY LESLEY GOLDBERG, ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business Local TV giant Nexstar is said to be among the suitors for the broadcast network. The CW is up for sale. The broadcast network, home to shows like Batwoman and Walker, is being shopped by its corporate owners, ViacomCBS and WarnerMedia, multiple sources confirm to The Hollywood Reporter. The Wall Street Journal, which first reported the news, says that the local TV giant Nexstar is among the potential suitors. Nexstar, which owns 199 local TV stations as well as the cable channel NewsNation and The Hill, is one of the largest owners of The CW stations. It isn’t immediately clear whether ViacomCBS…

Jan

05

2022

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By Troy Warren

“It’s a Leaner, Meaner Business”: Hollywood Braces for Volatile 2022 Box Office

Business, EntertainmentBusiness, Entertainment, Hollywood

BY PAMELA MCCLINTOCK | HollywoodReporter.Com Troy Warren for CNT #Entertainment #Business A full recovery will have to wait, and studios are now adjusting their expectations: "The bar for what type of movie is worth it in theaters has grown higher." Hollywood studio executives breathed a sigh of relief in October and November when overall moviegoing comfort levels hit an average 76 percent, the best of the COVID-19 era. While consumers ages 35 and older still were more nervous than their younger counterparts, progress was being made. Yet those comfort levels plummeted 10 points to 66 percent by Christmas — the lowest…

Jan

05

2022

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By Troy Warren

OpenSea Valued at $13.3 Billion as Ethereum NFT Market Booms Again

Business, In The News, NFTBusiness, Ethereum, NFT, OpenSea

By Jeff Benson | Decrypt.Co Troy Warren for CNT #NFT #Business OpenSea had its second-best month for Ethereum NFT volume in December, so it's no surprise that VCs want in. In brief The Series C funding round was led by Paradigm and Coatue. OpenSea raised $100 million in a Series B round in July 2021. The leading NFT marketplace OpenSea announced Tuesday it has raised $300 million in a Series C funding round and is now valued at $13.3 billion. The round was led by venture capital firms Paradigmand Coatue. KRH, the current holding name for the new fund from former Andreessen Horowitz general partner…

Jan

04

2022

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By Troy Warren

Airline Cancellations Continue to Rise, but So Do Number of Fliers and Stock Prices

Business, TravelBusiness, Travel

RICH THOMASELLI | TravelPulse.Com Troy Warren for CNT #Travel #Business Sunday, January 2, was set to be a critical day for the airlines, a litmus test of sorts to gauge how busy the last day of the Christmas/New Year’s holiday season would be and whether there was any end in sight to the unprecedented delays and cancellations plaguing the industry. This morning, we got our answers. The Omicron- and weather-related issues persist worldwide, but fliers are still flying and airline stock prices went up in early trading on Monday, according to CNBC. Another 2,100 flights were canceled as of…

Jan

02

2022

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By Troy Warren

Why Production Companies in 2022 Will Need to Get Big or Go Home

BusinessBusiness

BY SCOTT ROXBOROUGH | HollywoodReporter.Com Troy Warren for CNT #Business The worldwide consolidation of independent producers looks likely to continue in 2022 as the global streaming boom pushes up both demand and budgets for film and TV series. The worldwide consolidation of independent production companies, which picked up pace in 2021, looks likely to continue through 2022 as the global streaming boom pushes up both demand and budgets for film and TV series. Beyond the planned multi-billion-dollar entertainment mega-merger of Discovery and AT&T’s WarnerMedia, among the biggest content-centric deals of 2021 were Amazon’s $8.45 billion deal to buy MGM in May, Reese Witherspoon’s $900 million sale…

Jan

01

2022

By Troy Warren

Box Office Ends Year 60 Percent Behind 2019 With $4.5B Domestically

BusinessBoxOffice2021, Business

BY PAMELA MCCLINTOCK | HollywoodReporter.Com Troy Warren for CNT #Business Revenue at the North American box office jumped 101 percent over 2020 but still lagged far behind pre-pandemic levels. Facing strong headwinds, domestic box office revenue rose to $4.5 billion in 2021 as the theatrical business struggled to recover from the COVID-19 crisis. While that was up more than 101 percent over 2020, moviegoing still lagged far behind pre-pandemic levels. According to Comscore, revenue for 2021 was nearly 60 percent behind 2019 ($11.4 billion). And the last time domestic revenue came in at $4.5 billion was 29 years ago, or in 1992. Both…

Dec

31

2021

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By Troy Warren

Entertainment Stock Picks in 2022: What Wall Street Is Bullish About

BusinessBusiness, EntertainmentStocks

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT #Business Discovery and Disney will be watched closely and Zynga is emerging as one favorite. With the cost of the streaming wars accelerating, Wall Street is likely to spend much of the new year debating what subscriber trends and production budget news will mean for 2022’s stock winners and losers. And the impact of the coronavirus pandemic, notably the Omicron variant, on businesses will also be in focus for analysts and investors assessing where to place bets in the new year. Below, The Hollywood Reporter takes stock of six media-entertainment analysts’ recent upgrades and stock picks…

Dec

29

2021

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By Troy Warren

Hollywood Stocks In 2021: Netflix Extends Gains, Disney and Discovery Drop

BusinessBusiness, Discovery+, Disney, Netflix

BY GEORG SZALAI, ETAN VLESSING | HollywoodReporter.Com Troy Warren for CNT #Business ViacomCBS and Roku slumped, Imax and Comcast were down slightly while Sony and Lionsgate saw share prices jump year-over-year. Coronavirus vaccines, variants and new waves of infection, global supply chain issues, Reddit-powered meme stocks, mergers and acquisitions, plus streaming hopes and fears were some of the ingredients that made 2021 another year of volatility for stocks, including those of audio entertainment companies and shares of Hollywood giants. But while the broader stock market is on track to end the year significantly higher, just like it did in 2020, the media and entertainment sector…

Dec

28

2021

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By Troy Warren

Netflix, ‘Tiger King’ Producers Sued Over Unauthorized Use of ‘Ace Ventura 2’ Clips

BusinessBusiness, Netflix, TigerKing

BY KIMBERLY NORDYKE | HollywoodReporter.Com Troy Warren for CNT #Business The copyright infringement lawsuit claims that the show featured two clips from the Jim Carrey film "without permission or license." Morgan Creek Productions has sued Netflix and the producers of Tiger King for copyright infringement over the use of Ace Ventura 2 clips in the hit reality series. The show, which became a hit upon its release in March 2020, focused on Joseph Maldonado Passage, aka “Joe Exotic,” owner of a “big cat” zoo. “The series was filled with sordid tales of animal abuse, voluminous guns and a quixotic bid for the U.S. presidency,” the lawsuit against Netflix…

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