How Jason Blum Honed His Micro-Budget Blockbuster Formula — Deadline Disruptors
Blumhouse principal Jason Blum has turned low-cost, high-gross genre films into such a reliable hit formula that Universal staked him to a decade-long deal to serve as a silo offsetting the studio's blockbusters and Illumination Entertainment family films. The payoff: since last fall, the blockbusters Get Out, Split, The Purge: Election Year and a Ouija sequel, which collectively grossed $664 million worldwide on a budget of $27.5 million.
Even though the first indelible… Read
Univision CFO Says Ad Market Continues To Be Weak In Q2
Univision isn’t immune from the advertising woes that other media companies have noted in their Q1 reports.
“The overall advertising market is weak” heading into the upfront sales season, CFO Francisco Lopez-Balboa told the privately held company’s investors this morning.
The Spanish language broadcaster has seen “balanced weakness” between national and local, with media networks continuing to pace down by high single digit percentages.
The combination of softening… Read
Fox Misses Revenue Expectations But Beats On Earnings For March Quarter
Add Fox to the group of Big Media companies showing weaker than expected pay TV network results in a mixed report for the first three months of this year.
The entertainment giant generated $799 million in net income, down nearly 5% vs the period last year, on revenues of $7.56 billion, up 4.7%. Analysts thought the top line would hit $7.63 billion.
Adjusted earnings of 54 cents a share topped the 48 cents that Wall Street expected.
Fox shares are down 4.7% in initial… Read
ITV Posts 3% Revenue Decline In Q1 Amid Tough Ad Market; Studios Up 7%
For the three months ended March 31, British broadcaster ITV saw a 3% drop in revenues to £731M ($948.1M) while production arm ITV Studios experienced a 7% jump, lifting to £343M ($445M). The earnings report comes a week after it was announced that boss Adam Crozier is exiting the company after a seven-year run.
The outgoing Chief Executive said today, “ITV’s overall performance and the shape of the UK advertising market are very much as we anticipated and our guidance… Read
Disney Misses March Quarter Revenue Expectations With Light Cable Growth
Disney shares fell slightly in post-market trading after reporting mixed results for the first three months of the year, with weaker than expected top-line results at its Media Networks.
The entertainment power generated $2.29 billion in net income, up 11.4% vs. the period last year, on revenues of $13.34 billion, up 2.8%. Wall Street expected the sales number to hit $13.45 billion.
But earnings, at $1.50 a share, beat expectations for $1.41.
"Disney delivered another… Read
Liberty Media CEO: Amazon’s Capabilities Are “Ridiculously Scary”
Liberty Media CEO Greg Maffei paid Amazon a backhanded compliment today, telling analysts that he considers the e-retailer “a ridiculously scary company.”
Maffei made the characterization when asked about the threat Amazon’s streaming music efforts might pose to SiriusXM, which Liberty owns — along with a threat its new Prime Live Events concert and ticketing initiative could pose to Live Nation, in which Liberty owns a major stake.
Amazon “has an ability, because of its… Read
Discovery Q1 Earnings Fall Short Of Analyst Expectations
Discovery Communications’ Q1 earnings report probably won’t change the growing concerns on Wall Street about the fate of cable networks. The company fell short of the Street’s expectations, partly due to overseas results which were affected by weakening currencies vs. the U.S. dollar.
The company today reported $215 million in net income, down 18.3% vs the period last year, on revenues of $1.61 billion, up 3.3%. Analysts had been looking for $1.63 billion on the top… Read
AMC Entertainment Beats Q1 Revenue Expectations On Strong Attendance
Shares in AMC Entertainment are up more than 3% in post-market trading after it reported stronger-than-expected first-quarter revenues following its acquisitions of Carmike Cinemas and the UK’s Odeon Cinemas Group.
The world’s largest exhibition chain — controlled by China’s Wanda Group — generated $8.4 million in net income, down 70.3% vs the period last year, on revenues of $1.28 billion, up 67.6%. If you take out M&A expenses, $26.2 million in Q1, then earnings would… Read
Liberty Global Reports 18% Drop In Q1 Euro Operating Profit
John Malone's Liberty Global is lowering its European growth target this year after the international cable operator posted a lower-than-expected start in the region with European operating income for the group down 18% year-on-year at $431M.
The company said in its 2017 Q1 financial and operating results for Liberty Global Group and LiLAC Group that it now anticipated its full-year growth for Liberty Global Group to be around 5%, down from 6% in February.
"In terms of… Read
CBS Beats Analysts’ Q1 Expectations Helped By Rising Retransmission Fees
CBS shares are up about 1% in post-market trading after it reported better-than-expected Q1 numbers, complicated by a mix of one-time tax benefits and write-downs.
The network owner reported a net loss of $252 million, down from a $473 million profit in the period last year, on revenues of $3.34 billion, down 6.8%. That’s ahead of the $3.27 billion that Wall Street anticipated. Last year included the Super Bowl and an additional NFL playoff game.
After adjusting for… Read
AMC Networks Beats Q1 Earnings Expectations Following Ad Drop Warning
AMC Networks had already warned that “unfavorable comps” would hurt U.S. networks ad sales in Q1. So the 6.2% drop it reported this morning may already be baked into the stock, enabling the Street to focus on the other elements of a report that mostly exceeded analyst expectations.
AMC generated net income of $136.2 million, up 20.1% vs the period last year, on revenues of $720.2 million, up 1.9%. That was just a hair shy of the $721 million analysts anticipated. Adjusted… Read
Viacom Beat March Quarter Financial Estimates, But U.S. Ad Sales Drop 4%
Viacom has some encouraging news in the financial report it just released for the March quarter — but we’ll have to see whether there’s enough in the right places to overcome the market’s concerns about weakening prospects for pay TV, which sent the company’s shares down 7.5% yesterday.
They’re up 0.6% in early pre-market trading this morning.
Notably, Viacom says that domestic ad sales at its networks fell 4% vs the period last year with its higher prices “more than… Read