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Movie Academy Launches Open-Source Software Hub

The Academy of Motion Picture Arts and Sciences and The Linux Foundation have launched the Academy Software Foundation, a forum for open source software developers in the motion picture and broader media industries. The new hub is designed to share resources and collaborate on technologies for image creation, visual effects, animation and sound. "We are thrilled to partner with The Linux Foundation for this vital initiative that fosters more innovation, more… Read

Business

Jeffrey Katzenberg And Meg Whitman Confirm $1B Raise For NewTV, Eye Holiday 2019 Launch: “Now The Real Fun Begins”

Jeffrey Katzenberg Meg Whitman

Jeffrey Katzenberg and Meg Whitman, who first worked together decades ago at the Walt Disney Co., have re-teamed for one of the most lucrative fundraising efforts by a startup. They have secured an initial round of $1 billion for their mobile video network, NewTV, with an eye toward launching the subscription service by the end of 2019. The raise had been reported last month, but NewTV is officially confirming it today. In an interview with Deadline, Katzenberg and… Read

breakingBusiness

FX Makes Its Ad-Free FX+ Platform Available To All Of Its Subscribers – TCA

FX is expanding the scope of its ad-free programming hub, FX+, making it available to all of its 90 million U.S. subscribers. Previously, it had been an add-on option only for Comcast and Cox cable customers. The announcement came as the Fox-owned (for now) network kicked off its day of presentations at TCA summer press tour. Opting in to the platform will still cost $5.99 a month for all subscribers, who will get all new seasons of FX originals as well as nearly every… Read

Business

MoviePass: “Yes, We’re Going Through A Rough Patch,” Just Like Uber Did – Update

UPDATED with closing stock price. MoviePass parent Helios & Matheson, with its 3 million subscribers in an uproar and its stock cratering, put out the latest “all is well” message today, likening its position to Uber’s in its early disruptive days. Investors didn’t buy the “we’re still here” claim, sending shares down another 56% today to close at 10 cents a share, far below the $1 threshold it needs to clear in order to stay listed on the Nasdaq. Not even 10 days ago… Read

breakingBusiness

Comcast To Integrate Amazon Prime Video Into Xfinity X1 Cable Service

Comcast and Amazon have set a deal to¬†launch Prime Video on Comcast's Xfinity X1 platform in the first such integration of the streaming service into an MVPD’s offering. The plan follows similar integrations of Netflix and YouTube on X1, giving the No. 1 U.S. cable distributor more digital options than its rivals. That is a noteworthy strategic stance as traditional TV bundle players try to diversify their offerings and respond to subscriber erosion, cord-shaving and the… Read

Business

Sonos Prices IPO At $15 A Share, Below Initial Target Range

Sonos has priced its IPO at $15 a share, below the range it specified last month of $17 to $19 a share. Led by underwriters Morgan Stanley and Goldman Sachs, the maker of high-end smart audio products, will start trading tomorrow on the Nasdaq, using the ticker symbol SONO. Even at the lowered price, the offering should still net more than $200 million at a valuation of almost $1.5 billion. Voice technology is propelling the interest in Sonos. The company has had a… Read

Business

MoviePass Pays Back Emergency Loan, Touts “Power At The Box Office”; Stock Continues Its Swan Dive

UPDATED with closing stock price. Sorry, haters, MoviePass has a bit more to say. Its parent company, Helios & Matheson Analytics, filed a very brief 8-K with the SEC this morning but it wasn’t the kind of gloom and doom the company has trafficked in lately. Today’s update said the company has already paid back the $6.2 million it borrowed from Hudson Bay Capital Management to ease a cash crunch during the opening weekend of Mission: Impossible – Fallout. Earlier filings… Read

Business

PBS Facebook Film Shows “Willfully Blind” Reaction To 2016 Misdeeds – TCA

If you were thinking of quitting social media, the upcoming Frontline film The Facebook Dilemma on PBS might just push you over the edge, judging by the ominous insights shared at a panel this afternoon at TCA summer press tour. Roger McNamee, an early Facebook investor and venture capitalist, recalled reaching out to Facebook founder Mark Zuckerberg and COO Sheryl Sandberg in October 2016. He had seen indications of misuse of the platform and wanted to offer his counsel… Read

Business

MoviePass Bears Licking Their Chops; Selloff Of Parent Stock Continues After Latest Resuscitation Effort

UPDATED with closing price. After MoviePass this morning announced drastic changes to its service, including a hike in its monthly subscription price from $10 to $15 and the exclusion of some major movies from the service, investors have pounced. The already-bloodied and battered shares in its parent company, Helios & Matheson Analytics, briefly spiked $1 to $1.81 on the resuscitation effort but soon retreated into red figures. They finished down 38% to a shade under 50… Read

Film

Peter Bart: Tech Takeover Makes Hollywood Execs Cower, With No Swagger In Sight

Hollywood

The scene was emblematic: Appearing this week before assembled TV critics, the programming boss of HBO set aside his customary vows to dominate the awards landscape, promising instead that HBO would defeat any pressures to "change our culture.” His aim: to respond to reports that HBO's new proprietor, AT&T, was urgently prodding the network to ratchet up its programming pipeline. Renowned for its swagger, Hollywood is sending forth a defensive, if not downbeat, vibe these… Read

TV

Nat Geo’s ‘Valley Of The Boom’ Explores The Birth Of The Internet — TCA

Valley Of The Boom

Before the Facebook and Google became the internet’s dominant duo, a tiny Silicon Valley startup called Netscape sought to challenge the desktop dominance of the world’s leading software maker, Microsoft. National Geographic cranks up the internet wayback machine with its forthcoming series Valley of the Boom, to explore the dot-com era and the culture of speculation, innovation and disruption during Silicon Valley's unprecedented tech boom of the 1990s and subsequent… Read

Business

Facebook Misses Wall Street Estimates For Q2 Revenue And Users, Sending Stock Down 20% After Hours – Update

Facebook

UPDATED with after-hours stock price:¬†Facebook’s financial results for its tumultuous second quarter slightly undershot Wall Street forecasts for total revenue and monthly active users. Investors, who have ignored recent scandals to boost shares to an all-time high, turned the other way in after-hours trading. The stock has been hammered, dropping more than 20%, making more than $100 billion in wealth instantly evaporate (at least for the moment). The social media giant’s… Read