☀️How big are Cord Cutting $$ losses for Studios - and why FAST networks aren't the savior in 2023
1923 blows Tulsa King debut away / PAR is ditching TV Upfronts in May / Another new low for Media stocks
Mornin! This is Sean McNulty (connect with me on LinkedIn here if ya like), and here’s the Hollywood + Media news to know on TUESDAY December 20, 2022.
Where given that it seems the town is already shutting down (knock on wood), if you watched “Christmas Vacation” this weekend and you too had a change of heart about getting a little something for any Interns, Assistants, or Team Members in your office - you can take care of it today and call it a week! Wait can I do that too?
Just for new subscriptions this week now through Christmas Day - 30% off 👇
AND: “Almost Famous” is closing on BROADWAY on January 8, after 77 performances. It joins fellow Fall new shows ”KPOP”, “Ain’t No Mo’”,
”A Strange Loop” and “Gabriel Byrne’s Walking With Ghosts” in announced closings already.
ALSO: Harvey Weinstein was convicted on 3 counts of rape and sexual assault in LA, was acquitted on one charge, and the jury couldn’t come to a unanimous verdict on 3 others. Barring a very unexpected future development, he’ll still be in prison for the rest of his life.
SMALL UPDATE 1: A couple of readers informed me that I must have indeed been busy in the kitchen on Sunday night, as SONY did have one spot for their Whitney Houston movie during the NBC Sunday Night Football game, apparently it was kinda centered around her SUPER BOWL anthem performance.
SMALL UPDATE 2: Elon once again reversed a TWITTER policy shortly after he instituted it, now making large caveats to the no external social media platforms / FB - INSTA links thing. I’m done with TWITTER so… unless he leaves, or the time finally hits where he begins missing his loan payments to investors etc, I’m no longer engaging with this here.
IN TODAY’S EDITION:
We all know Studios are losing money to cord-cutting each year - but just how much? And are FAST services filling the gap? Time to fold over to the back of the napkin for a breakdown.
PARAMOUNT scores with “1923” debut.
The EMMYS change Variety series categorizations.
PARAMOUNT is ditching May Upfronts this year, and more.
A NOTE: If the business stays as slow as it was yesterday… I’m not going to bother you with a “Wakeup” email containing 3 items tomorrow. Figuring I’ll send at least one more this week at some point, but just a heads up on that now.
First - congrats to The Wakeup Friday Box Office Poll crew, with the majority (40%) of you calling the under $160 Million opening option from the 3 given for “Avatar 2”.
In the spirit of 2023 predictions… let try a few in the next few newsletters,
WWE was one of the few, if only Media companies who had a good year on the street in 2022, +45% 🥳.
DISNEY stock hit a new low-mark, closing at $85.78 a share yesterday for the first time since I believe 2014. Has DIS stock basically bottomed out?