Business
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Studio Execs Say California Needs to Be More Competitive to Bring Production Back to Hollywood
“It’s almost more a California issue, honestly, than a U.S. issue,” Sony Pictures CEO Ravi Ahuja says at the Milken Institute Global Conference
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NBCUniversal to Sell Ad Inventory for Comcast Cable Spinoff Versant in Next 2 Upfront Cycles
Mark Marshall oversees Versant’s sales strategy and revenue, while Tom Winiarski leads ad sales and monetization
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The Instagram Factor: Getting Movie Stars to Promote on Their Social Media Is in the Fine Print
Some like Scarlett Johansson refuse to use social media to promote films, but studios are leaning harder on leveraging personal accounts for publicity
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Movies
Available to WrapPRO members
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Disney Plans to Open New Theme Park in Abu Dhabi
The waterfront resort will be located on Yas Island
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Netflix Unveils First Look at New Homepage Design
The streamer is also launching updated mobile features, including a video feed and generative AI-powered search in collaboration with OpenAI
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Disney+, Hulu Combined Operating Profit Surges to $336 Million
When combined with ESPN+, the three streaming services grew to nearly 205 million subscribers in the last quarter
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Business
Available to WrapPRO members
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Comcast’s Spinoff Will Be Called Versant
“It speaks to our adaptability and embraces the opportunity to shape a new, modern media company,” CEO Mark Lazarus told staffers Tuesday
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OpenAI Ditches For-Profit Ambitions After Elon Musk Rips Sam Altman Over Plan
Altman says making the ChatGPT company into a public benefit corporation will help it make “rapid, safe progress”
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Gavin Newsom Asks Trump to Create $7.5 Billion Federal Tax Credit for Hollywood Instead of Tariffs
“Building on our successful state program, we’re eager to partner with the Trump administration,” the California governor says
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Reliant Talent Expands With Four New Agents Focused on Comedy, Talent and Unscripted
Scott Simpson has been hired as Head of Talent, Jonathan Perry and Katie Edwards will lead West Coast Talent and Melanie Moreau will head up Unscripted
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Lionsgate-Starz Separation Greenlit by Supreme Court of British Columbia
The two companies will begin trading separately on the New York Stock Exchange starting Wednesday
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Dave Kim PR Relaunches as Human Public Relations | Exclusive
The new company will continue uplifting “creatives whose unique stories and tireless efforts continue to inspire us and remind us of what it means to be Human,” founder Dave Kim says
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Trump’s Movie Tariff Impact: Netflix Could Face $3 Billion in Additional Costs and 20% Hit to Earnings, Analyst Predicts
Jason Bazinet says the streamer could reduce the impact by raising U.S. prices, cutting back on internationally produced content or shifting content production to America
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Shares of Disney, Netflix, Lionsgate Drop on Trump’s 100% Movie Tariff Proposal
Even with the larger stock market trading down on Monday, the parent companies of film studios are seeing steeper declines
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Warren Buffet to Step Down as Berkshire Hathaway CEO by End of Year
The legendary 94-year-old investor told the company’s board he wants to hand the reins over to to vice chairman Gregory Abel
