YOUTUBE can't catch NETFLIX revenue (yet), SPOTIFY adds 7 Million paying users
NETFLIX bids for huge NJ production home / GOSLING doing WOLFMAN pic at UNI / BILL MURRAY is in next ANT-MAN pic
Mornin! This is Sean McNulty and here’s the Hollywood + Media news to know on WEDNESDAY October 27, 2021.
Where NETFLIX is bidding to open a new 289 acre soundstage facility next to where I hit golf balls in Jersey. Although as much as I put on a good show with my backswing, I wouldn’t think that’s figuring highly in their decision.
It’s at an abandoned Military Base called FORT MONMOUTH near the Shore in Monmouth County (it also has a golf course on the grounds), and is located about 90 minutes south of Midtown Manhattan. It would be NETFLIX’s 2nd largest production facility, next to their NEW MEXICO production hub. Bidding period goes thru Jan 12, so keeping a good thought for my hometown! 🤞 Just don’t get rid of the driving range. Clearly I need the help.
ALSO: If you ever had a dream to run your own radio station ever since watching “Pump Up the Volume” as a teenager… but not get paid for it - AMAZON is developing a new audio-streaming app called “Project Mic”. 🎤
According to THE VERGE, the idea is a CLUBHOUSE-like app where you can stream your own audio shows but also (legally) include music (aka “radio”) across AMAZON’s apps - AMAZON MUSIC, TWITCH, AUDIBLE and ALEXA-enabled devices.
No word on a launch date, but AMAZON is hoping to entice celebs to do shows to launch the service in the US when it does.
📽 THE SILVER SCREEN
His “Blue Valentine” & “Place Beyond the Pines” director Derek Cianfrance is writing and directing, as previous director Leigh Whannell (“The Invisible Man”) dropped out due to a scheduling conflict.
Not much known about it other than it’ll be a modern-day take vs. a period piece like the Benicio Del Toro version 11 years ago. /Deadline
The man himself revealed it in a “French Dispatch” press interview, saying he shot something for “Ant-Man and the Wasp: Quantumania” but… not much else to know yet. /Variety
WB will distribute in October 2023… in theaters, as if that needed to be specified. All key players returning. LEGENDARY financed 80% of Part 1’s $165 Million budget, WB pays the other 20%, hence the official 👍 coming from them for the sequel. /THR
ALSO IN MOVIES
📺 THE TV SET
The project called “The Comeback Girl” was announced just a month ago with Greg Berlanti directing… but they apparently did not bother to get Joan’s life rights from daughter Melissa before announcing the project 🤔 . /Variety
ALSO IN TV
Showrunners Alex Kurtzman & Jenny Lumet (“Star Trek” TV universe) set up new division at their CBS STUDIOS home called 25 STORIES to produce shows amplifying diverse voices and helping people of color create successful careers in TV. Will be led by former NBC exec Bruce Evans. /Deadline
CRITICS CHOICE AWARDS will air on TBS and THE CW on Sun Jan 9. The GOLDEN GLOBES recently said they would also announce their winners the same day… after CRITICS CHOICE already announced their event date. And even though there is no NBC GLOBES event this year. HFPA off to a great start in their new era 👍👍. /Deadline
💻 THE MEDIA BIZ
Not a bad Q3 at the GOOGLE with $19 Billion in net profit. Ok fine $18.9 Billion, but when you have $142 Billion of cash on-hand… you can’t fault me for skimming a few BearerBonds off the top. #MikeyTandinoStyle
But I guess these numbers makes sense when GOOGLE takes a 22% to 40% vig on all advertising transactions that would make even Jimmy Conway say “maybe you should tone it down a bit and lie low for a little while”. Ok my mind is clearly stuck in my DVD collection today.
Anyway as for YOUTUBE, it’s still about $300 Million behind NETFLIX in quarterly revenue, the same as Q2 really.
Although that $7.2 Billion is only ad revenue - does not include YOUTUBE MUSIC and YT PREMIUM subscription revenue which… now at 50 Million subscribers is significant, even if they didn’t break that # out by global region.
Curiously… no update on YOUTUBE TV streaming bundle subscribers. Hmm. 🧐
45% of all GOOGLE revenue still comes from the US.
SPOTIFY continues to be the 2nd largest streaming subscription business behind NETFLIX (sorry AMAZON PRIME - no reporting, no credit), with 19% annual growth. While big profits are still elusive, growth is still very healthy here.
Monthly Ad-free listeners grew by 10 Million to 220 Million, again 19% annual growth and ahead of NETFLIX, although granted these people don’t pay.
REVENUE: As for ya know, cold hard cash… the money is in the subscription business by far, with roughly a 90/10 split favored toward subscription revenue.
Ad business did have impresive 75% growth from last Fall, but considering how many ads are stuffed into SPOTIFY listening experience these days… not sure how much more they can stuff it with.
Some of this is from Podcast revenue growth (podcast spending was up $40 Million vs last year), but most was ads around music despite headlines you may see today leading you to believe otherwise.
Avg Revenue Per User is $5.04, so a lot of free trials and discounting going on. Still - higher than DISNEY+ by about a buck.
US provides 39% of Revenue (UK by contrast is about 10%), but EUROPE as a whole is SPOTIFY’s largest listener and Revenue base by a significant margin.
That 211 daily user number is +13% from a year ago.
Revenue was $1.3 Billion, pretty much all from Ad revenue… but they had to pay out $800 Million to settle a lawsuit about misleading investors. Bummer. However only a slight mention of APPLE’s iOS privacy tracking shift impacting revenue here.
US represents just 17% of Daily Users, but provides 58% of all TWITTER Revenue. Noticing a theme here this week?
US Daily User count remains around 37 Million. 45% of which are journalists. Ok that last part isn’t technically true. Except in volume of tweets.
ALSO IN MEDIA
Joe Biden makes FCC Chair nomination - Jessica Rosenworcel, who is the current acting head of the commission. She would be the first woman to officially lead the FCC. He also nominated Gigi Sohn for a slot on the comission, which would give it a 3-2 split of Dem & Republicans. /Deadline
🏦 STOCK NOTES:
ENDEAVOR up almost 7% because.. uh they don’t have any businesses affected by the APPLE iOS privacy changes? 🤷♂️
PINTEREST down another 5% post PAYPAL-deal yoink! news
GOOGLE’s earnings report had basically no effect on it’s stock price. Then again when your stock is almost $2800 a share…
TWITTER was +4% in after hours trading after their earnings call.
👩💻 NEW TO WATCH:
NETFLIX ”Passing” - Tessa Thompson stars as a Black woman in 1920’s NYC whose life is upended when a childhood friend played by Ruth Negga re-appears, living a life passing as White. Directed by Rebecca Hall. In Limited theaters
FOX - WORLD SERIES Game 2 at 8p
If you were sent this newsletter or… just kinda found it:
🎥 TRAILER HOUSE
NETFLIX “The Unforgivable” trailer. Sandra Bullock newly released ex-con searching for her younger sister that she… seemingly (?) was trying to protect when she murdered a cop. With Viola Davis, Vincent D’Onofrio, and Jon Bernthal. In theaters and streaming on Fri Dec 10.
NETFLIX “Cowboy Bebop” series trailer. Wow this looks still looks like a lotta fun… kudos NETFLIX marketing (and their trailer agency) 👏👏. Premieres Fri Nov 19.
PEACOCK “Paris in Love” trailer. Ok this made me throw up a little bit in my mouth personally, but obviously… I’m not the key demo here. 13 whole episodes about Paris getting married. Although the twist of her eloping with an accountant named Bill from Delaware was a pleasant surprise. Premieres Thu Nov 11
IMDB TV“Alex Rider” Season 2 trailer. Premieres Fri Dec 3
🎧 PLAYING ME OFF
New Song from MIRANDA LAMBERT,“If I was a Cowboy”
If you need new tunes:
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