Showbiz Sandbox 248: Hollywood Squeezes States For More Tax Breaks
September 9, 2014
California is set to triple their tax subsidies for film and television production to more than $330 million annually in an effort to stem the tide of runaway production to states with larger tax incentives. Richard Verrier of the Los Angeles Times discusses the growing debate over the value of film tax breaks and whether they actually create new jobs, or just shift them to different locations.
There is absolutely no debate over whether this summer’s box office was down from the previous year. However as we explain, comparing year-over-year box office figures is misleading at best and ultimately a fool’s errand.
In an unusual move the rock band U2 will be giving away its new album “Songs of Innocence” to more than 500 million iTunes users for a limited time. Making the release free to download only serves to further underscore where most artists make their money these days; on tour.
Of course, we also cover the week’s top entertainment news stories including the new head of DreamWorks, why it will take a century for anyone to read author Margaret Atwood’s latest work and “The Simpsons” make their way to China.
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Showbiz Sandbox 247: Everything You’ve Heard About This Summer’s Box Office Is Wrong
September 1, 2014
Listening to the chorus of industry naysayers or reading all the media reports might lead you to believe this year’s summer movie season was a complete financial disaster from which Hollywood could not recover. Granted, North American box office declined 15% from the same period last year, marking an 8 year low, and attendance was off by 5%. Even so, there were no huge flops over the summer and certainly none that would send a shiver down the spine of studio execs.
In fact, most of this summer’s releases will make money when international receipts are added to their theatrical grosses. The only problem with that, as Ben Fritz of the Wall Street Journal points out, is that not all box office dollars are counted equally when they are earned overseas.
We’ll also discuss how giant telecom companies are trying to maintain their stranglehold on the Internet in the United States by preventing cities from offering broadband to residents as a public utility. Such legal skirmishes are becoming more important as we move toward streaming services for movies and music.
Of course, we also cover the week’s top entertainment news stories including a new children’s book written by Bruce Springsteen, the first woman ever chosen to head the BBC and a King Arthur movie franchise may finally become a reality.
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Showbiz Sandbox 242: Supreme Court Fumbles Aereo Ruling
July 1, 2014
Last week the United States Supreme Court ruled that the television streaming service Aereo violated copyright laws by using mini-antennas to deliver broadcast signals to paying subscribers. Denise Howell, an intellectual property lawyer and host of “This Week in Law”, outlines a decision that will have long term and wide-ranging effects for the entertainment and technology industries.
The Academy of Motion Picture Arts and Sciences are attempting to alter their demographics by inviting younger, more ethnically diverse artists to join the ranks of those who nominate and vote for the Oscars each year. What’s truly remarkable is some of the legendary veterans who are just now receiving invites.
Meanwhile, as the publishing industry watches Hachette Book Group go to war with Amazon over the price of their books, the country of France is trying to protect its bookstores by passing a law meant to combat the online retailers influence.
Of course, we also cover the week’s top entertainment news stories including the gigantic opening of “Transformers: Age of Extinction”, why this summer’s domestic box office is considered anemic and “Community” heads to Yahoo for its sixth season.
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Showbiz Sandbox 232: Coachella Goes Over The Top, Figuratively and Literally
April 14, 2014
In its 15 year history the Coachella has grown from a two day event with a couple dozen bands to one of the world’s most important music festivals with so many VIP luxury amenities that some have argued the high-priced perks have begun overshadowing the actual music. At the same time, Coachella organizers have made it easier than ever for stay-at-home-fans to catch their favorite artists by streaming the whole first weekend live on YouTube.
Speaking of VIP entertainment experiences, there is a brewing battle over premium large format screens at multiplexes all over the world. You might know these types of auditoriums as IMAX, though not for long if your local cinema chain has anything to say about it.
Since it’s tax time here in the United States we uncover a few stories about how movie, television and theatre productions are not only skipping out on their taxes, but in fact getting huge subsidies courtesy of the tax man in most states.
Of course, we also cover the week’s top entertainment news stories including Stephen Colbert’s move to replace David Letterman, the motion picture Academy’s new high profile curator and James Cameron’s complaints about the latest blockbuster movies.
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Showbiz Sandbox 231: Could Vince Vaughn Be The Next David Letterman?
April 7, 2014
Late night talk show personality David Letterman surprised everyone last week by announcing that he would be retiring as host of the “Late Show” in 2015. News that Letterman would be exiting on his own terms after 30 years as a late night headliner broke in a thoroughly modern way; first via Twitter, then through the media’s career retrospectives and ultimately with stories about who would make a good replacement. We nominate Vince Vaughn.
In other television news, Time Warner Cable is in a bitter dispute with satellite provider DirecTV. The two companies are butting heads over the broadcast rights for the Los Angeles Dodgers baseball games TWC paid more than $8 billion for last year. With negotiations seemingly stalled, more than 30% of the market’s paid television subscribers have been blacked out of each game’s telecast.
Meanwhile, this year’s Broadway season is about to kick off in earnest on the run up to the Tony Awards. Our own Michael Giltz gives us a complete rundown on which productions he’s putting his own figurative money on.
Of course, we also cover the week’s top entertainment news stories including a trademark dispute over Mickey Mouse, a new contract for the Writers Guild of America and the continuing struggles of Entertainment Weekly.
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Showbiz Sandbox 230: It’s Curtains For Celluloid at CinemaCon
March 31, 2014
Every spring movie theater operators from around the world converge on Las Vegas to attend CinemaCon. During the week-long convention cinema owners are bombarded with industry facts, attendance figures, educational seminars and endless footage from upcoming releases. Over the years advances in digital projection have become an increasingly important topic at the show.
It’s no secret that cinemas have been slowly converting their facilities from traditional 35mm projection to digital. There was no better indication that the days of celluloid film prints are definitely over than the number of vendors at CinemaCon demonstrating the next generation of digital technology, including immersive sound and laser projectors.
When it comes to live theater, there is no doubt that New York’s Broadway and London’s West End are the leaders of the pack. Our own Michael Giltz reviews his previous predictions and investment advice by recapping the past year’s biggest money making productions, as well as a few financial losers.
Of course, we also cover the week’s top entertainment news stories including the fall of “Duck Dynasty”, a decline in paid cable subscribers and Oprah Winfrey’s plans for a national tour.
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Showbiz Sandbox 225: Comcast and TimeWarner Cable Is A Marriage Made In….
February 17, 2014
The proposed merger of Comcast and TimeWarner Cable has presented industry analysts with a number of complicated questions. Providing some of the answers is David Gelles, a business reporter for the New York Times, who joins us to provide background and insight into a transformative $45 billion deal that would combine the two largest media and technology providers in North America.
Though there are no legislative restrictions, will the U.S. government try to prevent to the two cable giants from consolidating? What concessions will the regulators ask of Comcast if allowing the merger to go through? How will consolidation give Comcast leverage in negotiations with content providers? Would the combined companies have too much control over the media? Most importantly, what does all of this mean for consumers?
Meanwhile, in the United Kingdom, the BAFTA awards were handed out over the weekend to films with strong British ties. That wasn’t the case at the Berlin Film Festival where Chinese movies took home the top prizes.
Of course, we also cover the week’s top entertainment news stories including Jimmy Fallon’s “Tonight Show” debut, actress Ellen Page’s inspiring coming-out speech, and an update on actor Shia Labeouf’s latest performance art stunt.
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Showbiz Sandbox 224: How Leno’s Departure Will Affect Late Night and Los Angeles
February 10, 2014
When Jay Leno signed off as host of “The Tonight Show” last week he left late night television and the city of Los Angeles in different states than when he first began the job 22-years earlier. Scott Collins, TV reporter for the Los Angeles Times, discusses the legacy Leno leaves behind in a late night landscape that now includes two dozen shows, along with what “The Tonight Show’s” move to New York City means for L.A. production jobs.
If you weren’t one of the more than 14 million viewers tuning in to Leno’s last late night stints, then maybe you’re watching the Winter Olympics. Networks such as NBC in the United States are making it easier to stream the Olympic Games online… sort of. The catch is that you must already be a subscriber to cable or satellite television services.
Meanwhile the Berlin Film Festival is currently taking place in Germany though the person making most of the headlines at the event is an actor who claims to no longer be famous. Can you guess who it is? (Hint: It’s Shia Labeouf).
Of course, we also cover the week’s top entertainment news stories including singer Clay Aiken’s run for seat in Congress, Fox puts an end to the “X Factor” and the Red Hot Chili Peppers get called out for miming their Super Bowl halftime performance.
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Showbiz Sandbox 223: The 2013 Worldwide Box Office – Who Won, Who Lost and Why
February 3, 2014
Thanks to surging theatrical grosses in countries such as Brazil, China, India, Mexico and Russia, the international box office more than doubled North American earnings in 2013, topping out at a record $25 billion. Though Hollywood studio content continues to dominate globally, receipts for local productions are beginning to play a more significant role in many markets. We provide a breakdown of the annual box office for of all the major territories and explain why some fared better than others.
Speaking of breaking records, the telecast of this year’s Super Bowl between the Seattle Seahawks and the Denver Broncos had an audience of 112 million viewers. That makes it the most watched television show in U.S. history. As is often the case, the commercials proved more interesting than the game.
Last week the industry also mourned the tragic death of Oscar winning actor Philip Seymour Hoffman from what appears to be a drug overdose. Unfortunately, obit writers were also kept busy with the passing of folk musician Pete Seeger, studio executive Tom Sherak and legendary animator Arthur Rankin Jr.
Of course, we also cover the week’s top entertainment news stories including an Oscar nomination for Best Song gets rescinded, “Back to the Future” is being turned into a Broadway musical and Disney plans to reboot Chip ‘n Dale.
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Showbiz Sandbox 219: The Business of Show Was Profitable In 2013
January 6, 2014
Almost every sector of the entertainment industry saw record grosses during 2013. North American movie ticket sales reached a record $10.9 billion. Television audiences are tuning in to more shows than ever, especially sporting events. The top 20 concert tours made a whopping $2.43 billion. It all helped contribute to the bottom lines of many entertainment companies causing their stock prices to end the year on a high note.
The only category in which revenue declined was the music. Even sales of digital music declined for the first time since iTunes was launched back in 2003. Album sales were down 8.4% overall and some industry insiders concede this might be due to streaming services such as Pandora and Spotify.
And financial numbers aren’t the only ones increasing in entertainment. So are the sizes of televisions. They’re not only getting bigger, but the consumer electronics industry is pushing Ultra HD with 4K resolution, which is twice that of current HD televisions.
Of course, we also cover the week’s top entertainment news stories including the death of singer Phil Everly, the expansion and increased usage of UltraViolet and the manufactured controversy behind Martin Scorsese’s latest film, “The Wolf of Wall Street”.
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