☀️CHARTER confirms Cable TV bundle melt is getting worse, as repercussions mount
SNAP drops -18% on more bad news / SEARCHLIGHT sets their Joan Baez / NBA TV rights take new iteration in Phoenix
Mornin! This is Sean McNulty (connect here on LINKED-IN if ya like) and here’s the Hollywood + Media news to know on FRIDAY April 28, 2023.
Where new Ankler’er Elaine Low came thru in the CINEMACON candy clutch!
And I’m guessing she better have brought back some of this sweet free cwag (candy we all get) for her kids when they see these treats (they’re big Wakeup readers - kids today amirite? 🤷♂️).
ALSO: If ROKU Media Prez Charlie Collier ever bets you a Million dollars about something… take the action, he’ll be good for it 💰. Mr. Collier is getting nearly $52 Million in stock that vests over the next 4 years as part of his compensation that began in October.
Elsewhere at ROKU:
CEO Anthony Wood got a stock option grant of $19.8 Million as part of his 2022 comp, +$2.9 Million from in 2021. Base salary was still $1.2 Mil as it’s been the past couple of years.
BUT: CFO Steve Louden more than doubled his base salary to $1.6 Million in 2022, and his stock grant increased +43%.
A year in which ROKU laid off 200 people, and ROKU stock lost about -80% of its value. Thinking those stock options were priced closer to the end of 2022 price than the start of 2022 price…
AND: CLUBHOUSE is laying off 50% of their staff, so I guess the pandemic really is over.
PLUS: Jeff Shell was told he was fired last Friday in Philly according to the NY Times. He had been in DC last week, and was planning to attend #NerdProm tomorrow in DC. Shell has also hired crisis comms guru Risa Heller in the aftermath.
Ben Mullin & John Koblin also have some thoughts in the piece about what may be afoot, or at least what Shell’s removal may make easier to a degree regarding NBCU. Either way - new honcho Mike Cavanagh will be in LA next week.
IN TODAY’S EDITION:
CHARTER adds to the bad news for the Cable TV bundle. Broadband remains “challenged” as well, but overall Revenue is healthy. #medianerd🤓 breaks down this morning’s latest numbers.
Plus a look at simply other news in this newsletter alone today to see how this is driving a lot of other things you’re seeing in Hollywood right now.
SNAP loses -$328 Million on $988 Million of Revenue in Q1. Did they start a Streaming service and not tell anyone? A look inside the numbers that caused the -18% stock drop.
AMAZON PRIME VIDEO & STUDIOS lay off 100 as FIFTH SEASON cuts some staffers as well.
IMAX swings a profit! As AMAZON swings zero insight once again except for one number.
PARAMOUNT PICS news roundup from CINEMACON
PAR+ shifts strategy for next Taylor Sheridan series.
A look at the new TV & Movies to watch & stream this weekend and more.
📽 THE SILVER SCREEN
