WGA West Earnings Hit Record $1.4 Billion In 2017 Despite “Downward Pressure” On Over-Scale Pay
Earnings by members of the WGA West topped $1.4 billion last year – an all-time record and up nearly 3% from 2016. Earnings from feature films broke though the $400 million barrier for the first time since 2010 – up more than 6% and topping out at nearly $421 million. TV earnings are fast approaching $1 billion a year, coming in at $976 million, though only up 1.4% from the prior year.
"This year's report continues the positive trends recorded over the last half decade,"… Read
Luc Besson’s EuropaCorp Reports $95M Loss, Reiterates Focus On Action/Sci-Fi
Luc Besson’s EuropaCorp saw a spike in Paris trading Thursday morning after reporting reduced losses in its consolidated results for the year ended March 31, 2018. The producer and distributor saw a net loss of 82.5M euros ($95.4M) for the year, down from the record 119.9M euros ($136M) loss it suffered in the comparable 2016/2017 period.
The company also increased cash flow to 105M euros. Although it was a costly gamble that severely under-performed, Valerian And The City… Read
Cinedigm Breaks Even In Fourth Quarter, Forecasts Growth Fueled By OTT Revenues
Cinedigm is betting its future on the rising popularity of streaming services in North America and in China. The Los Angeles-based company said it plans to triple the number of over-the-top services from its current three offerings — the comic-book and fantasy focused CONtv, the documentary-film centric Docurama, and the family-friendly Christian programming of the Dove Channel — to nine by year’s end.
The forthcoming OTT offerings target popular programming niches… Read
Lionsgate Beats Wall Street’s Q4 Estimates On OTT Revenue, TV Profit Uptick
Lionsgate beat Wall Street estimates for the fourth quarter ending March 31, with TV production gains offsetting a drop in the motion picture business, which faced tough comparisons with the year-earlier La La Land quarter.
Total revenue of $1.04 billion came in $30 million ahead of estimates, and fully diluted earnings per share reached 24 cents, versus analysts’ consensus of a loss of a penny. Adjusted operating income of $136 million also trumped estimates of $121.5… Read
MGM Seeks To Grow Epix Through Investment In Original Content, New Distribution Deals
MGM its working to reposition the also-ran subscription service Epix into a legitimate competitor to other premium pay TV channels and streaming services.
“At the time acquired Epix from our joint-venture partners three things were true: it was under-distributed, it was under-subscribed and it was under- monetized,” Chief Operating Officer Chris Brearton old investors during MGM’s first quarter investor call. “It also lacked strong original programming to compete with… Read
News Corp. Calls For Algorithm Review Board To Monitor For Potential Abuse
News Corp. used its third quarter investor call as a platform to continue its attack on the two dominant tech platforms whose outsized influence and practices are having a “deleterious effect” on journalism.
Chief Executive Robert Thomson expressed concern about the opaque role of algorithms, the secret, behind-the-scenes calculations that determine what information consumers see. He called for the creation of an Algorithm Review Board to monitor for abuse.
AMC Networks Zombie-Walks Past Wall Street Estimates With Q1 Results: “Our Size, Focus And Assets Are Unique Strengths”
AMC Networks mounted an argument for its vitality in a consolidating media landscape, posting stellar first-quarter financial results that blew past Wall Street estimates.
Net income increased 28% to $2.54 per share on a diluted basis from $1.98 in the first quarter a year ago, far higher than Wall Street analysts’ $2.19 consensus. Revenue inched up nearly 3% to $741 million, $20 million ahead of analysts’ forecasts. The earnings and revenue figures were company records… Read
‘Queer Eye’ & ‘The Four’ Help Boost ITV Revenues
Netflix's Queer Eye and Fox's The Four helped British commercial broadcaster ITV bolster its revenues for the first three months of the year.
The company revealed that overall revenue across the firm was up 5% to £772 million (U.S. $1 billion), compared to £734M ($995M) last year. Revenue at production group ITV Studios, which produced the above series, grew 11% to £382M ($518M) to the end of March 2018, with organic revenues up 9%. The latter will particularly please the… Read
21st Century Fox Falls Short Of Earnings Expectations, As Broadcast TV Revenue Plummets
UPDATED with details from the investor call: 21st Century Fox fell short of Wall Street’s earnings expectations for its third quarter, as broadcast television and film units reported declines from a year ago.
The company reported per-share adjusted earnings of 49 cents, shy of consensus analyst estimates of 53 cents a share. Revenue for Fox’s March quarter reached $7.42 billion, exceeding analyst forecasts of $7.4 billion but representing a 2% decrease from a year… Read
Liberty Media Still Interested In iHeartMedia “At The Right Price”
Liberty Media is still interested in iHeartMedia.
CEO Greg Maffei told investors during today’s first quarter earnings call that the radio and online broadcaster’s assets are complementary to Liberty’s music holdings.
Liberty has a controlling interest in satellite radio broadcaster SiriusXM, which, in turn, holds a 19% stake in the streaming music company Pandora.
“iHeart is an attractive free-cash flow generator,” Maffei said. “At the right price, I think it would be… Read
Liberty Media Reports Revenue Gains, Prepares To Launch Formula 1 Streaming Service
Liberty Media, the company controlled by billionaire John Malone whose holdings include the satellite radio company SiriusXM, the Atlanta Braves baseball team and the Formula 1 racing circuit, reported revenue and earnings gains in it first quarter.
The company reported earnings of $131 million, compared with a loss of $21 million a year ago. Revenue rose to $1.5 billion, up nearly 9% from last year’s consolidated revenue of $1.4 billion.
The company’s Liberty SiriusXM… Read
Cinemark’s Earnings Fall Short Of Expectations, Despite Lift From ‘Black Panther’
Cinema giant Cinemark Holdings posted lower first-quarter earnings, despite strong ticket sales for Black Panther.
The company reported per-share earnings of 53 cents, falling short of analysts’ consensus estimates of 60 cents a share. Revenues for the first three months came in at $780 million, virtually the same as last year but surpassing analysts’ forecasts of $761.7 million.
“Fueled by the unprecedented success of Black Panther, the North American industry box office… Read