Paramount - WBD News Media Man

Parmount - WBD News

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Streaming Business News - December 20, 2023

Warner Bros. Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish on Tuesday in New York City to discuss a possible merger.

The meeting between Zaslav and Bakish, which sources say lasted several hours, took place at Paramount's headquarters in Times Square.

The duo discussed ways their companies could complement one another. For example, each company's main streaming service — Paramount+ and Max — could merge to better rival Netflix and Disney+.

It's unclear whether WBD would buy Paramount Global or its parent company, National Amusements Inc. (NAI), but a source familiar with the situation says that both options are on the table.

WBD could use its international distribution footprint to boost Paramount's franchises, while Paramount's children's programing assets could be essential to WBD's long-term streaming ambitions.

CBS News could be combined with CNN to create a global news powerhouse. CBS' crime dramas, such as "NCIS" and "Criminal Minds," could be combined with Investigation Discovery and TruTV.

CBS Sports' footprint could be combined with WBD's. For example, CBS and WBD's Turner Sports currently share TV rights for March Madness.

WBD is said to have hired bankers to explore the deal.

Consumer "cord cutting" is a major driver of the talks and Paramount is looking to clear debt.

(Sources/Intel: Axios, Variety and X)

News

Studio Big Business - December 20, 2023

Paramount Top Brass Meets Warner Bros Discovery per Axios Intel leaked to select media

Intel released did not include WWE and/or AEW details

Fuels speculation by not mentioning AEW or professional wrestling genre in Axios papers says Media Man

Variety picks up on story; Others to follow as dynamic news for websites and online publishers in pop culture, streaming and pro wrestling niche and verticals

Pro wrestling themed podcasts such as 83 Weeks, K100, Corbett's Drive Thru, Busted Open, Hall Of Fame (Booker T) and a plethora of others likely to follow up at wrestling broadcast (season) is upon us.

Media Top Brass Players at said meeting include:

WBD - David Zaslav
Paramount - Bob Bakish

See previous MediaManInt X post more additional overview.

Axios could potentially provide some additional information at a fee, but currently not known what else they could advise regarding any pro wrestling business content or intel. Potentially is a key word. That missing detail re wrestling promotion name/s may not be available at any price, such are the high stakes.

"Some intel is obviously extremely commercially sensitive in nature" - Media Man

"The secret to business is knowing something no one else knows" - Media Man, borrowing and taking from X and famous quotes sites such as Best Quotes Of The Day.

Further down the rabbit hole we go. (Not that Wabbit John Cena). PS: things looking good for 'Coyote vs. Acme". Beep beep! Disco vs AE.... Insider reference!

Media Man

Movie Directory

Can movie theatres and online streaming live side by side?

It’s been a tough time for movie theatres around the world with a number of factors contributing to the decline in the number of people heading to the cinema to watch movies. In a world that is embracing digital technologies, the movie industry is in danger of getting left behind unless they quickly embrace the technologies available that will get people excited to return to movie theatres and get the enjoyment of the cinema experience once again.

The rise of the video game industry

Whilst there are plenty of factors that are influencing people’s decision to visit the cinema, there is no doubt that the rapid rise of the online video game industry is a large contributing factor. People are starting to look elsewhere for their entertainment and online video gaming provides a lower-cost alternative to a trip to the cinema.

A report by MarketWatch in 2020 found that the video game industry is now bigger than the sports and movie industry combined. Just take a minute to digest that. Bigger than movies and sports - that’s big.

The news outlet reported that global video game revenue is expected to increase 20% in 2020, making $179.7 billion, according to data from IDC.

The biggest gain is expected to come from mobile gaming, according to the news outlet, which is expected to surge 24% to $87.7 billion. Part of this is due to China recently lifting a ban on gaming consoles.

Game console revenue is expected to soar to $52.5 billion this year, while PC and Mac games are expected to make $39.5 billion.

In their most recent report, MarketWatch reported that whilst overall revenue was expected to grow by 11% in 2021 to $251.39 billion, the forecast for 2022 is just a 2% growth and a flattening out of that rapid growth over the past two years.

Is this a potential opportunity for cinemas to reclaim some of that lost audience share?

Early signs look good for cinemas in 2022

If the latest movie releases in 2022 are anything to go by, it looks as though the movie theatre industry is not ready to give up just yet. Spider-Man: No Way Home became the biggest grossing movie of the past two years, grossing over $US1 billion ($1.38b) in the first two weekends. It is the second-fastest film ever to reach the $1 billion mark and suggests that this could be a big year for cinema-goers.

Following in its footsteps is another 2022 release, The Matrix Resurrections, a movie that grossed $US12 million in its opening weekend.

Whilst this is a great start to the New Year for movie theatres around the world, it remains to be seen whether this is a trend that continues throughout the year. With a number of high profile movies due for release in 2022, this could be a time for cinemas to really cash in.

The impact of streaming and long-form content

It is unlikely that cinemas will have it all their own way in 2022. Whilst it is great to see people returning to movie theatres to watch the latest releases on the big screen, there is no question that home viewing is here to stay.

As more studios and media distributors are developing their own direct-to-consumer streaming services, this starts to eat into the revenue of major studios.

Studios derive almost half of their revenues from theatrical releases. Although the average number of movie tickets purchased by Americans each year has declined from 4.2 in 2009 to 3.4 in 2019 (Source: Deloitte), studio revenues are driven more by box office tickets now than they were 20 years ago.

Streaming is having the biggest impact on people going to the movies. As televisions have improved, where you can now watch movies at home in 4K high-definition on screens with sizes up to 100”, with surround sound, people have become more willing to wait for the latest release movies to become available on streaming services including Netflix, Amazon Prime, Disney+, and Stan.

Another major impact on the cinema industry is the consumer switch to long-form content in the form of series. Many people feel there is more depth to a series that contains anywhere from six episodes upwards. Game of Thrones was one of the groundbreaking series to really capture the audience’s attention, however, there are so many amazing series now that it is becoming more difficult for movies to compete with the depth and the character development that a series can bring.

Huge series like Breaking Bad, The Sopranos and more recently, Succession, have really captured the attention of audiences around the world and this is something movie producers need to consider.

The entertainment factor

It’s not just video games and streaming that are competing for people’s attention. Another industry embracing technology is the online casino and betting sector. Here, we have seen huge advancements in the way people are able to game online. One company leading the way in the sector is Betway, “Developed by our exceptionally talented people, Betway creates market-leading, cutting-edge interactive gaming experiences. We bring people closer to the action – putting them at the centre, making them feel a part of it.”

From the introduction of in-game betting to the development of new and exciting interactive games, these online gaming sites are leading the way when it comes to embracing new technologies that can lead to better experiences for customers.

The movie industry is at a real crossroads. With competition coming from every direction within the entertainment industry, studios and distributors need to find a way to either a) get more people back into movie theatres or b) look at alternative ways to ensure that movies can compete with online gaming, live sports streaming and online casinos for a share of customer eyeballs.