Warner Bros. Discovery said it plans to combine HBO Max and Discovery+ into a single streaming service to be available next summer before turning its attention to the launch of a new free, ad-supported platform. (The New York Times) The company also reported a combined 92.1 million subscribers between HBO, HBO Max and Discovery+, up 1.7 million subscribers from the previous quarter, in its first earnings report as a fully merged company. (Variety)
Lions Gate Entertainment Corp. is working on a deal to spin off or sell a piece of its Starz cable network in September, but potential partners have also shown interest in the brand’s film and TV studios, the company said in an earnings call. Possible buyers are realizing the studio’s potential value following last year’s $8.5 billion sale of Metro-Goldwyn-Mayer to Amazon.com Inc., executives said. (Bloomberg)
AMC Entertainment Holdings Inc. reported a total revenue of $1.16 billion, up from $444.7 million a year ago, and announced that it narrowed quarterly losses in its second quarter report, citing summer blockbusters like “Top Gun: Maverick” and “Jurassic World: Dominion” for bumping its earnings. The company also issued a special “APE” dividend in the form of preferred shares to reward its vocal individual investors. (Deadline)
AMC Networks, the cable networks and streaming company that operates the likes of AMC, AMC+, IFC, BBC America, Acorn TV and Shudder, reported a 5 percent drop in U.S. advertising revenue in the second quarter, but said it grew its streaming subscribers in the period to end June with 10.8 million, up from 9.5 million as of the end of March.
Christina Spade, a veteran media executive who was previously chief financial officer of the former ViacomCBS, has been named the new chief executive of AMC Networks, tasked with leading the small but influential media company through a tricky time in the media business.
A judge on Thursday ruled that Kevin Spacey and his production companies must pay the makers of “House of Cards” nearly $31 million because of losses brought on by his 2017 firing for the sexual harassment of crew members.
Pop star and actress Lady Gaga appeared to confirm her casting in the upcoming motion picture sequel to the Oscar-winning psychological thriller “Joker” on Thursday by posting a musical teaser on Twitter.
The U.S. economy is facing numerous setbacks, with inflation rising to a 40-year-high, consumer spending declining and a labor market slowdown. Even the video game industry — often described as “recession-proof” because of consumers’ tendency to turn to games in a downturn — hasn’t been insulated from the general downward shift.
A new proposal by Rep. Rashida Tlaib calls for streaming services like Spotify to divert some of their record profits to musicians in the form of direct royalties. An indie-rock veteran (remember Galaxie 500?) explains why your favorite major-label artists have yet to join the chorus of calls for change.
People love A24, the indie studio behind critical and commercial darlings such as ‘Everything Everywhere All At Once,’ ‘Ladybird,’ ‘Moonlight’ and ‘Uncut Gems.’ But when moviegoers gush over an “A24 film,” it can be hard to tell whether they’re more excited about the “A24” part or the “film” part.