After Katzenberg: Hollywood Democrats Come Back To Life — With Cash
Stars like Ro Khanna and James Talarico reopen entertainment's ATM — ‘as long as they never hear from Jeffrey Katzenberg again’
Matthew Frank previously wrote about Gen Z’s film and TV habit via social clips, how Hollywood studios are scrambling to build IRL experiences, and the AI wars at top film schools. You can reach him at matthew@theankler.com
“Katzenberg is really like the general that just lost three wars,” veteran political consultant Mike Murphy tells me. The Democrats “really want to bring up some colonels to take his place, and they will emerge.”
On Saturday night in the courtyard of Silver Lake’s 2413 Hyperion Gallery, signs of that new army were already forming. U.S. Rep Ro Khanna, 49, spoke in front of about 50 tech and entertainment industry professionals, ranging from filmmakers to agents.
For nearly an hour, Khanna fielded questions on everything from his role in the Jeffrey Epstein investigation to wealth inequality, arts funding and corporate consolidation. That last topic resonated with the Hollywood crowd, as the industry braces for the seismic effects of a Paramount–Warner Bros. merger. Khanna’s warning about the dangers of concentrated corporate power landed well.
Marginal MediaWorks founder Sanjay Sharma, who co-hosted the event with siblings Tim and Abigail Disney and NextDoor co-founder Prakash Janakiraman, described the mood of the evening as “exciting, energetic, optimistic and broadly unifying,” noting that Khanna was breathing new life into California's Democratic party.
The Bay Area congressman, whose district covers much of Silicon Valley, isn’t the only politico hitting the Hollywood sweet spot these days after a long period of disillusionment among top Democratic donors.
Last March, I reported on the lingering donor fallout from 2024 — with much of the rage aimed at fundraiser Katzenberg’s unwavering public insistence on President Biden’s mental fitness.
But Hollywood is falling in love with its Democrats again — and not a moment too soon as the 2026 midterm cycle hinges on massive war chests, with the RNC leading the DNC by over $100 million.
“Somewhere along the way, it turned a corner,” says a former TV executive and top Democratic fundraiser. “I don’t know that anybody is rah-rah about the party, but I do hear less exhaustion and anger. More of my world seems energized.”
What’s getting them charged up: the possibility of winning back the House, maybe even the Senate, and exciting new contenders — like Texas’ James Talarico, who’ll challenge either incumbent Sen. John Cornyn or Texas Attorney General Ken Paxton following a runoff election for the Republican race in May. “I’m more optimistic than I was a year ago in there being a clear message in what we stand for and people now starting to come out and challenge the administration,” one prolific producer tells me.
Trump’s vulnerability hasn’t hurt either. His approval rating has dipped to 38 percent amid controversies around Iran, ICE raids, tariffs and the Jeffrey Epstein files. What’s more, he hasn’t anointed a successor yet, privately polling advisors about Veep JD Vance vs. Secretary of State Marco Rubio.
Thus far, 2028 presidential hopefuls including, Wes Moore, Josh Shapiro and Andy Beshear have made the rounds in Los Angeles, along with both Georgia senators, Raphael Warnock and Jon Ossoff. (On Friday, Gov. Shapiro will attend a fundraiser at the Sherman Oaks home of JSSK founding partner P.J. Shapiro and WME senior policy & political advisor Hannah Linkenhoker.) And of course, Gavin Newsom is always already here, currently promoting his best-selling memoir, Young Man in a Hurry, alongside his non-stop aggro-trolling of the president.
“There are a lot of disgruntled donors, but they also see that Trump’s barn’s on fire, so they’re not about to not throw some matches,” Murphy says. “They just hope they never hear from Jeffrey Katzenberg again.”
Along with Murphy and other Dem consultants and advisors, I talked with multiple top donors to get the state of play in 2026:
Why James Talarico is suddenly Hollywood’s favorite candidate, and who’s joined Kevin Huvane and Meredith Stiehm in making donations
The two other Senate candidates getting big Hollywood money and from whom
Names in play to take Katzenberg’s tarnished mantle and lead industry fundraising for 2028
Candidates’ new strategies to court Hollywood again after the 2024 debacle — including one-on-one living-room sit-downs
How the California governor and L.A. mayor races are filled with “below-the-line” dud candidates and what that means
Newsom’s irresistible resistance: “Everyone would like to see more Gavin”
The Casey Wasserman of it all