@MC_60sGang Already has that relationship with Rob Stringer, Todd Moscowitz and Santa Anna. You’ll probably see a hybrid deal where you uses Sony/Santa Anna for global distro and Gamma/Vydia for everything else.
“CEO’s either gotta do the step down or say they stepped aside huh, for reasons unknown not specified, just gotta step in the name of exit signs, you know the boy still alive he’s death defying huh, the contract print was extra fine huh?”
https://t.co/RrSe6PCBq7
Crazy things have been happening to UMG after that Q2 call. I might make a thread about it later lol. Since we can’t directly find what shareholders feel about it, the closest thing we can use to gauge it is the market institutional investors voted with their feet. UMG fell 25% on July 31 its worst day since the 2021 listing wiping about €8.8B from its market value. Vivendi, itself a major UMG holder, fell 18% that day their largest one-day slump since 2002. And the analyst language was unusually harsh. JPMorgan described the quarter as “disappointingly weak,” while Bernstein said the results were underwhelming across the board. The two numbers investors really cared about both missed organic subscription growth was 6.7% vs ~9.3% expected, and adjusted EBITDA excluding Downtown was €664M vs ~€703M consensus. I think this is good news for the Bolloré family since they want UMG to fail so that they can buy their shares back and own it fully as a family lol. But the way things are going, Lucian might be forced to step down this year. https://t.co/4YawKnKCAT
After decades of pitching Hollywood executives, veteran director Joseph Kahn delivers his verdict on the industry in his debut column for THR: The quarter-zips have taken over, the suits have lost their nerve, and the business desperately needs its monsters back.
"The executive’s job is to be the brilliant, greedy, tasteful money animal who funds the dream, and pretending otherwise is what broke the business. The business forgot it is supposed to be a hit-driven, star-driven, spectacle-driven machine, not a lifestyle brand for coastal creatives." https://t.co/l4GY4BZuFU
3 hours out from UMG's Q2 call. And who's distributing Drake's Karol G single next week, exactly? Signs are pointing one direction I'd expect a Drake deal announced today or this week at the latest. It don't have to be with UMG might be with a Private Equity.
Earl Sweatshirt and Mike singing Don’t Worry by Drake word for word 😂🔥
So random, I'm sure they played this song together a lot, they know it front to back😭
Netflix paid $587 million in cash when it purchased Ben Affleck's AI startup InterPositive, the company disclosed in a federal filing.
InterPositive's tools allow filmmakers to build an AI model using production dailies to help enhance post-production work such as mixing, relighting shots and adding visual effects, forgoing typical visual generative efforts.
https://t.co/yQTbQNtXJC