Monthly Archives: March 2015

CBS Radio

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by WYATT DILLON

CBS Radio Logo - Courtesy of Billboard.com

CBS Radio Logo – Courtesy of Billboard.com [a]

Contact Information: [1]

1271 Avenue of the Americas FL 44

New York, NY 10020

(212) 649 – 9600

www.cbsradio.com

Key Executives:

Dan Mason – President and CEO

Anton Guitano – Chief Operating Officer

Scott Herman – Executive VP, Operations

Michael Weiss – President, Sales

Additional Executive Biographies

Top Competitors:

CBS Radio’s largest competitors are iHeart Media, Inc. and Radio One in addition to digital players such as Pandora.

Brief History: 

A division of Columbia Broadcasting System Corporation, CBS Radio was founded in late 1927 by Arthur Judson.  In 1999, Viacom acquired CBS Corporation for $37 billion from Westinghouse Broadcasting [2]. Starting in 1996, CBS Corporation’s Radio division was called Infinity Broacasting until it reverted back the historical CBS Radio in 2005.

In 2006, CBS Corp. and Viacom split into two publicly traded companies and are traded on the New York Stock Exchange.

Current Events:

Going Digital-

In early January of 2015, CBS Radio invested in the digital radio platform and developed the new podcasting network, Play.it [3]. Available online and via mobile apps, Play.it combines hundreds of original podcasts with content from leading media brands ranging from sports to 48 Hours and 60 Minutes. With content available to stream or download, CBS Radio hopes to compete in the growing digital radio market.

By further extending the CBS Radio brand to the digital market, CBS Corp. plans to see a growth in annual radio profits. CBS Corporation CEO and President Leslie Moonves explained in a recent interview:

“Radio also continues to be profitable, … and we continue to build new audiences in radio, by extending our big-market content into the digital world.” [4]

– Leslie Moonves

Financials:

as of 12:50pm on April 17, 2015

CBS Corporation Stock Index as of 12:50pm on April 17, 2015  [5] courtesy of Yahoo Finance [b]

CBS Corporation is a publicly traded company on the New York Stock Exchange and on April 17, 2015, was traded at $60.63 per share. Due to a strong fourth quarter by CBS Corp., the company’s stock value lies between the 52 week low of $48.83 and the 52 week high of $65.24 [6].

CBS Corporation reported a strong fourth quarter on December 31, 2014. Although total revenue for 2014 was down 9.67% from 2013, reporting $13.81 billion, the fourth quarter numbers saw a spike compared to the previous year’s final quarter. Due to Thursday Night Football and the Midterm Elections, the total advertising revenue for CBS Corp. rose 4.1% to $2.14 billion, and CBS Radio revenues increased by 2% in the fourth quarter of 2014 [7].

The 2015 first quarter earnings report for CBS Corporation is scheduled to be announced on May 7, 2015 [8].

Stronghold in Sports-

Thus far in 2015, sports has been at the epicenter of conserving CBS Radio’s dominance in many major markets. In early January, CBS Radio announced its new deal with the Chicago Cubs to stream all games at live performances at Wrigley Field [9]. Purchasing the rights for seven years, CBS Radio’s deal with the Chicago Cubs dismisses a 90 year relationship between the Chicago baseball team and WGN-AM 720.

Also in January, CBS Radio announced it will become the exclusive program provider of the Baltimore Orioles on 105.7 WJZ-FM. After being out-bid in 2010, CBS Radio regains the rights to broadcast Orioles games [10].

These two tremendous deals improve the amount of sports programming CBS Radio controls, adding more content to the already impressive 330 AM and FM stations, including some in each of the top 10 markets [11].

In addition, CBS Radio announced in late March a deal with the Philadelphia Eagles and SportsRadio 94WIP for a multi-year broadcast partnership. This deal furthers CBS Radio’s control in major market sports play-by-play. The deal includes a new HD Radio station devoted to yearly around the clock Eagles coverage.

In addition to the Philadelphia Eagles, CBS Radio provides play-by-play broadcasting to NFL Franchises including the New York Giants, New England Patriots, Dallas Cowboys, Chicago Bears and many more.

New Leadership:

Arguably the largest story of 2015 for CBS Radio is the sudden retirement of CBS Radio President and Chief Executive Officer, Dan Mason [12].

After 17 years total with the company and 15 years as President and CEO, Dan Mason finds a successor in Andre Fernandez, previously President and COO of Journal Communications. Dan Mason leaves CBS with a legacy of launching dozens of new stations, refurbishing failing stations in major markets, moving CBS to the digital game with Play.it, and incorporating HD stations to the arsenal of CBS Radio.

As for his successor, Fernandez has a long history of success in the broadcasting industry, working in key financial roles at the General Electric Company and Telemundo [13]. In CBS Radio’s press release on the matter, CBS Corp. President and CEO, Leslie Moonves said:

“Andre is a terrific executive who brings a wealth of experience to this role – operations, financial management, programming and digital distribution, among many other attributes [14]”

-Leslie Moonves

Broadcast Stations:

In addition to housing top-rated play-by-play sports stations in over a dozen major markets in the United States, CBS Radio owns and operates all 10 top rated stations rated by Nielson Audio. CBS Radio claims to reach over 72 million consumer weekly, owning 117 total radio stations in 26 markets [15].

Recently, CBS Radio has been reformatting stations to obtain higher ratings. In early December 2014, CBS Radio traded 14 stations in Tampa, Philadelphia and Charlotte for 5 stations in Miami and Philadelphia [16]. One station, WRDW-FM 96.5, struggled with a consistently low share of the market, constantly being outperformed by iHeartRadio’s WIOQ 102.1. 96.5 Amp is currently ranked 19 in the Philadelphia market with a share of 2.3, and iHeartMedia, Inc.’s WIOQ hold a share of 4.7, currently ranked 8 in the market [17]. On April 10, 2015, CBS Radio announced its Philadelphia station 96.5 FM will reformat from Rhythmic CHR to a pop mainstream contemporary hit format [18].

The Altitude Group:

Leading the advertising department of CBS Radio is the Altitude Group. Directed with connecting consumers with companies, the Altitude Group’s client list includes Walgreens, Allstate, MasterCard, Mercedes, and much more.

On March 9, CBS Radio named Tony Mennuto as Vice President, Branded Content Solutions of the Altitude Group. His position is essential to promoting the CBS Radio brand through original content as well as through live-venues and performances. CBS Radio hopes Mennuto will bring fresh advertising content to be distributed throughout all stations and assets, from television to digital media [19].

Community Outreach:

On June, 16, CBS Radio’s 830 WCCO-AM in Minnesota is receiving the Service to America Award from the National Association of Broadcaster’s Education Foundation. The award honors outstanding community service by local television and radio broadcasters [20].

Due to the WCCO-AM’s Public Service Announcements, events, and fundraisers for the Minnesota community [21], the station assisted the hungry through a year-long campaign, collecting 1.73 million pounds of food [22].

CBS Radio Operations:

While revenues for CBS Corporation have slowed in growth in past years, the company continues to stand behind its radio business, CBS Radio. Despite a hedge fund lobbying the corporation to merge with Cumulus Media, CBS Corp. understands the value of CBS Radio’s assets in the digital market [23].

Because CBS Radio possesses a highly diverse presence in a large number of markets, advertisers see a value in the ability to select a station that fits their target audience. This proves to be valuable to the revenue of CBS Corporation, and with a growing audience in all 10 of the top markets, the value of CBS Radio can not be understated [24].

Although advertising spending on radio has fallen in recent years from 6% in 2013 to 4% in 2014, these numbers do not include digital radio, in which CBS is beginning innovate and create products and platforms to break into the digital industry [25].

play.it logo. Courtesy of play.it [c]

play.it logo. Courtesy of play.it [c]

Text Sources:

[1] CBS Radio Contact Retrieved April 15, 2015

[2] CBS Merges with Viacom Retrieved April 16, 2015

[3] CBS Radio Develops Play.it Retrieved April 16, 2015

[4] CBS Radio Rises with Good 4th Quarter Retrieved April 16, 2015

[5] CBS Corporation Stock Retrieved April 16, 2015

[6] CBS Corp. Annual Income Reports Retrieved April 15, 2015

[7] 2015 CBS Corporations 4th Quarter Finances Retrieved April 15, 2015

[8] CBS Corp. to Report 2015 First Quarter Earnings on 05/07 Retrieved April 15, 2015

[9] CBS Radio announces WBBM-AM as Chicago Cubs Radio Stationc Retrieved April 16, 2015

[10] Orioles Return to CBS Radio after 5 Years Retrieved April 16, 2015

[11] CBS Sports Radio Retrieved April 16, 2015

[12] Andre Fernandez Named Mason Replacement in Press Release Retrieved April 15, 2015

[13] Andre Fernandez Replaces Mason Retrieved April 16, 2015

[14] CBS Radio Press Release, Andre Fernandez Replaces Dan Mason as President Retrieved April 16, 2015

[15] CBS Radio Profile Broadcasting Retrieved April 16, 2015

[16] CBS Radio trades with Beasley Broadcast Group Retrieved April 17, 2015

[17] Philadelphia Market Share Retrieved April 17, 2015

[18] CBS Radio Reformats New Philadelphia Station Retrieved April 17, 2015

[19] Tony Mennuto Named VP Branded Content in Press Release Retrieved April 17, 2015

[20] Service to America Awards Recipients Retrieved April 17, 2015

[21] CBS Press Release 830 WCCO-AM to Win National  Community Service Award Retrieved April 17, 2015

[22] CBS Radio Local Station leads state’s largest food drive Retrieved April 17, 2015

[23] Forbes Ad Spending on Digital Changes CBS Radio’s Value Retrieve April 17, 2015

[24] Hedge Fund Pressures CBS to Merge Radio with Cumulus Retrieved April 17, 2015

[25] Marketing Charts Advertising Trends Retrieved April 17, 2015

iHeart Media

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by STEPH ZOLAN

iHeartMedia-02

iHeartMedia Logo. [1]


iHeartMedia Headquarters
200 East Basse Road
San Antonio, Texas, 78209
(210) 822-2828

Executives:

Bob Pittman, Chairman and CEO of iHeartMedia

Bob Pittman, Chairman & CEO [2]

Richard Bressler, President, CFO and CEO of iHeartMedia

Richard Bressler, President, CFO, & COO [2]

Wendy Goldberg, Executive Vice President and Chief Communications Officer

Wendy Goldberg, Executive Vice President & Chief Communications Officer [2]

 

 

Gayle Troberman, Executive Vice President and CMO

Gayle Troberman, Executive Vice President and CMO [2]

John Sykes, President of Entertainment Enterprises

John Sykes, President of Entertainment Enterprises [2]

 

 

 

 

 

 

 

 

 

History:

iHeartMedia began with the purchase of a single FM radio station by Lowry Mays and Red McComb under the name Clear Channel Communications. As the company progressed, they acquired not only more broadcast and digital radio stations, but also Clear Channel Outdoor. In addition, iHeartRadio was launched as a website in 2008, and now acts as a digital aggregator for radio brands. In 2014 the company officially rebranded as iHeartMedia in order to create a more cohesive and connected brand. iHeartMedia is now the largest mass media company in America. [3]

Radio:

iHeartMedia currently owns and operates over 850 broadcast radio stations in more than 150 United States markets. They have over 245 million listeners each month, making iHeartMedia the largest multi media company in the country. In addition, the company’s digital music service, iHeartRadio, allows users to create custom music stations. In January, the service exceeded 60 million registered users. [4]

iHeartMedia also operates Premiere Networks, which produces, distributes, or represents over 90 syndicated radio programs and services for more than 5,500 radio stations affiliates. [5] Some of the radio company’s syndicated programs are produced in house, which cater mostly to local markets. In addition to syndicated programming, iHeartMedia also produces Programming for iHeartMedia radio stations greatly varies in order to reach audiences in many different markets. The different radio formats include Alternative, Urban, Smooth Jazz, News talk, Sports talk, Adult Contemporary, Contemporary Hits, Country, Oldies and Classic Hits, Rock, Spanish, and Religious. [6]

Another technique iHeartMedia uses to draw in listeners, is employing trusted radio personalities. For example, On Air With Ryan Seacrest is a syndicated program that is available on over 150 radio stations across the country, and has made Seacrest a household name. [7] His home station, KIIS-FM in Los Angeles produced the most revenue of any United States station in 2014 earning $65.9 million. iHeartMedia continues to increase the awareness of their radio personalities through events. [8]

Ryan Seacrest

[9] One of the most well known radio personalities in the country.

Events:

iHeartMedia is more than just the largest owner of radio stations in the United States. The company also specializes in digital media, outdoor advertising, and event production. The national events are used to promote their top notch radio personalities as well as the most popular music on the radio.

iHeartRadio Music Awards

[10] 2015 iHeartRadio Music Awards logo, from NBC.

Most recently, they hosted the iHeartRadio Music Awards. Musicians were not the only ones who brought home awards that night. The event itself won the Nielsen TV social ratings and the top trending show on Twitter for both the night and the entire week. During the promotional period and the show, The iHeartRadio Music Awards generated 14 billion social media impressions, which is a huge increase in comparison to last year’s 8.5 billion. [11] Local radio station personalities were engaging with viewers through social media, helping draw in the audience. This included live Twitter Periscope broadcasts of behind the scenes footage, and an iHeartAwards Snapchat Story that featured audience members, nominated artists, and radio host Ryan Seacrest. [12]

Clear Channel Outdoor Logo. [13]

Clear Channel Outdoor:

In addition to owning and operating radio stations and producing events, iHeartMedia also specializes in outdoor advertising. Clear Channel Outdoor Holdings is a subsidiary of iHeart, and is one of the largest outdoor advertising companies worldwide. They have over 640,000 displays including billboards, street furniture, retail advertising, airport advertising, transit advertising, and posters. Clear Channel Outdoor operates across 40 different countries. [14]

iHeartMedia in the Industry:

As a radio focused company, the main competitors for iHeartMedia are Cumulus Media and CBS Radio in the broadcast radio marketplace. SiriusXM has also become a competitor, and iHeartMedia has purchased two satellite stations of their own in order to expand into the satellite market. Since the company has also increased their digital presence with iHeartRadio, they now compete with Pandora and Spotify as well. [15] iHeartMedia’s ability to stand out is largely attributed to their availability across so many different platforms and formats. The scale of the company allows them to reach a large and diverse audience, and their creativity and tools enable iHeartMedia to effectively target their content and advertisements. [16]

Another factor is brand awareness. In December of 2014, iHeartRadio reached 75% brand awareness, which is a huge accomplishment considering they were at 10% only 5 years ago. iHeartRadio has over 500 million app downloads and 80 million social media followers. [17]

Aside from simply reaching such a large audience, iHeartMedia is able to analyze and more effectively monetize from their radio stations. On April 8th, 2015 the company announced a partnership with the cloud-based advertisement platform, Jelli. Together, they will work to use technology to target their advertisements programmatically. By automating ad sales, it allows advertisers to make informed advertisement purchases. The system will use psychographics to determine groups that are related to music genres, weather and traffic patterns, and consumer purchase behavior. Advertisements have been programmatically sold online for the past 10 years, and iHeartMedia is now adapting the technique to be used with radio. [18]

Finances:

The majority of iHeartMedia’s revenue is derived from selling advertising times or placements on their radio stations or websites. Between 2013 and 2014, the company’s consolidated revenue increased by $75.5 million, from $6,243,044 to $6,318,533, with $29.9 million attributed to political advertising, traffic and weather, broadcast radio and digital revenues. Unfortunately, their revenue from americas outdoor advertising decreased by $37.3 million, mostly due to lower national account revenues and the nonrenewable airport contracts. [19]

Future:

The next move for the company, is the establishment of iHeartMedia SoundBoard. This entertainment studio will be used to connect brands with iHeartMedia’s available talent and radio personalities to create original audio, video, and experiential content. The studio is primarily audio focused since iHeartMedia is mainly a radio company, but everything that is produced will be accessible across all of iHeartMedia’s platforms including broadcast and digital radio, mobile apps, and live events.  The success of this program will be made possible by iHeartMedia’s extensive connections and experience in the entertainment industry as well as the company’s knowledge of both consumers and brands. This development will introduce a new method of creating and distributing content to the market, which may have a large impact on the storytelling industry.  When the iHeartMedia SoundBoard studio will launch has yet to be confirmed. [20]

Sources:

[1] IHeartMedia. Digital image. Brradio. Published September 16 2014. Retrieved April 17, 2015.

[2] iHeartMedia Corporate Team. iHeartMedia. Retrieved April 17, 2015

[3] Clear Channel Becomes IHeartMedia. iHeartMedia. Published September 16, 2014. Retrieved April 17, 2015.

[4] About iHeartMedia. iHeartMedia. Retrieved April 17, 2015.

[5] Hampp, Andrew. Clear Channel Changes Name to iHeartMedia. Billboard. Published September 16, 2014. Retrieved April 17, 2015.

[6] Station Search. iHeartMedia. Retrieved April 17, 2015.

[7] All Stations And Times. Tune In. Retrieved April 17, 2015.

[8] Overall U.S. Radio Industry Revenues Remain Steady at $14.9 Billion in 2014. BIAKelsey. Published April 1, 2015. Retrieved April 17, 2015.

[9] On Air With Ryan Seacrest Logo. The Drum. Retrieved April 17, 2015.

[10] iHeartRadio Awards Logo. NBC. Retrieved April 17, 2015.

[11] iHeartRadio Music Awards” Generates 14 billion Social Media Impressions. Digital Media Wire. Published April 1, 2015. Retrieved April 17, 2015.

[12] 2015 iHeartRadio Music Awards Generates More Than 14 Billion Social Impressions. Business Wire. Published April 6, 2015. Retrieved April 17, 2015.

[13] Clear Channel Outdoor Logo. Retrieved April 17, 2015.

[14] Company Overview. Clear Channel Outdoor. Retrieved April 17, 2015.

[15] iHeartRadio Grows Even More: How Will This Impact Sirius XM And Pandora? Seeking Alpha. Published June 27, 2012. Retrieved April 17, 2015.

[16] Sisario, Ben. Clear Channel Renames Itself iHeartMedia in Nod to Digital. The New York Times. Published September 16, 2014. Retrieved April 17, 2015.

[17] iHeart Media Surpasses 60 Million Registered Users Continuing to Demonstrate Accelerated Growth, Engagement and Strong Brand Awareness. Business Wire. Published January 23, 2015. Retrieved April 17, 2015.

[18] Marshall, Jack. iHeartMedia Will Sell Radio Ads Programmatically. Wall Street Journal. Published April 8, 2015. Retrieved April 17, 2015.

[19] iHeartMedia 2015 10-K. United States Securities and Exchange Commission. Published February 19, 2015. Accessed April 17, 2015.

[20] iHeartMedia Announces “iHeartMedia SoundBoard,” A New Multiplatform, Audio-Centric Branded Content Studio That Invites Brands, Talent and Fans To Join in Developing Original Productions. iHeartMedia. Published February 3, 2015. Retrieved April 17, 2015.

Pandora Radio

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by RICO PEDRAZA

Pandora Logo

Pandora Press Logo (courtesy of Pandora Pressroom) [1]

Pandora App Logo

Pandora App Logo (courtesy of Pandora Pressroom) [2]

Headquarters
2101 Webster Street
16th Floor
Oakland, CA 94612
(510) 451-4100
http://www.pandora.com

Company Overview

Pandora is currently the largest online music streaming and internet radio company in the world with over 81.5 million users as of December 31st, 2014(3).  The company is an online music streaming service that provides its users with automated music recommendations based upon a song, artist, album, or genre being searched.   This automation is powered by Pandora’s service – the Music Genome Project – which gives human curated music recommendations for each individual.  The company currently operates under two payment tiers.  A free tier allowing unlimited internet radio music streaming with restrictions on the number of song skips allowed per day, audio quality, and is fueled by advertisements between songs.  Alternatively the paid tier “Pandora One” ($4.99 per month or $54.89 per year) (4) offers ad-free listening, higher audio quality on desktop listening, and a higher number of daily song skips allowed.

Key Executives

Brief Company History

Founded by Tim Westergren in 2000 the company has grown to an immaculate 81.5 million user base(3), trumping all other streaming services with Spotify being the closest with 60 million users(8).  Based out of Oakland, California, Pandora has had a quick rise in its 15 years earning $920.8 million in total revenue in 2014(9).  Over the years Pandora has changed multiple business models, due to new unexpected variable costs in today’s online  music streaming industry.  These obstacles included the changing climate around artist payouts per stream in the music industry, increased licensing costs through SoundExchange(10) etc. etc.  Pandora has been able to take these hurdles in stride, shifting its focus into brand and fan interaction as well as entering the live entertainment space over the past few years.

Interface

The screenshot below shows the typical Pandora user interface with basic music controlling functions present.

User Profile Screenshot

User Profile Screenshot (14)

Devices / Platforms

Today Pandora is available across virtually all platforms; including car radio systems, almost all mobile devices, online computer streaming, and available on some smart televisions.  Additionally Apple recently announced that Pandora will officially be one of the first apps available on the fist operating system of their new product, the Apple Watch(11).  The Apple Watch is Apple’s newest device that incorporates a “smart watch” device with the interface of an iPhone. It is set to be released on April 24th, 2015.

Apple Watch Promotional Photo (Courtesy of Billboard)

Apple Watch Promotional Photo [15]
(Courtesy of Billboard)

Financials

On December 31st, 2014 Pandora released their end of the year Financial reports.  The report showed a trend that Pandora’s year-over-year mobile and local advertising revenue both grew from 2013.  Local advertising revenue was $152.9 million (155% increase from 2013), and mobile revenue alone accounted for $712 million (a large portion of Pandora’s total $920.8 million 2013 total revenue) which also was a 58% increase from 2013(9).

Pandora accredits this success to the fact that 2014 was the highest year of mobile monetization in company history.  Pandora’s 2015 Q1 financial report will be reported publicly on April 24th, 2015.

Competition

Today Pandora’s primary competitors include Spotify, iHeart Media, iTunes Radio, and Sirius XM to name a few.  Although each of these services differ slightly, Pandora is still the leader in total users of all of these streaming services(3).

Additionally, two new companies have been in the music streaming service news recently.  The first being Jay-Z’s newly launched music streaming service Tidal, and the second being Apple’s currently unnamed and soon to launch streaming service.  Tidal launched March 30th, 2015(12) following a $56 million acquisition by artist Jay-Z of the parent-company Aspiro(13).  Tidal is unique because unlike Pandora and Spotify, Tidal has two paid monthly subscription tiers with no option of free listening for the user.  With only 500,000 users at launch it is unclear if Tidal will be a future competitor.

At the Tidal launch on March 30th, 2015 artists Alicia Keys, Arcade Fire, Beyonce, Calvin Harris, Christ Martin of Coldplay, Daft Punk, Deadmau5, Jack White, Jason Aldean, J.Cole, Jay-Z, Kanye West, Madonna, Nicki Minaj, Rihanna, and Usher signing the company's constitution.

Various A list artists at the Tidal launch event on March 30th, 2015 in New York City. (Courtesy of New York Post) [16]

In August of 2015, Apple acquired Beats Music for $404 million dollars(17).  Currently there has been much speculation as to what Apple is planning to do with their service and when it will launch, however there are a few factors to keep in mind:

  • First the acquisition of Beats Music has brought Apple music taste makers like Jimmi Iovine (former CEO of Interscope Records), Andre “Dr. Dre” Young (founder of Beats Music), and Zane Lowe of BBC Radio 1.  Potential for more human music curation.
  • Secondly, Apple as of 2013 had a user base of 500 million paid users(18), which since has no doubt increased, allowing them to potentially launch a music streaming service with an unprecedented initial user base.

Future

Pandora is in the fortunate position where it is a pioneer of music streaming, in a market becoming oversaturated with competitors.  Pandora sets itself aside by possessing the most users of any of these services, 81.5 million users, and by having a unique streaming service / business model.  With all this said, Pandora recently has begun entering the live entertainment, fan interaction, and brand sponsorships parts of the music industry.

For the 4th year in a row, Pandora has sponsored an event held an event at Austin, TX during the South by Southwest Music Festival.

2014 Pandora Discovery Den admat (courtesy of mxdwn.com)

2014 Pandora Discovery Den admat (courtesy of mxdwn.com) [19]

  Called “The Pandora Discovery Den”, Pandora selected over 35 current notable musicians from the genres of electronic, hip-hop / R&B, and rock. Held over 4 days, Pandora was able to showcase many up and coming artists that are featured and heavily streamed on Pandora.  Each day is a new genre, and all performances were broadcasted live on Pandora’s web & mobile outlets.  This event allowed fan interaction for those attending South by Southwest as well as fan interaction for those who couldn’t attend the fest but lived vicariously through the live broadcast.

Additionally, Pandora continued this fan interaction on January 30th, 2015 Pandora continued its fan interaction by presenting a live stream of Jack White’s sold-out performance at Madison Square Garden.  In anticipation of the live stream Pandora, in conjunction with Jack White’s record label Third Man Records, curated a Jack White digital mixtape that was exclusively available to Pandora users.  The live stream was made available for 72 hours after The Madison Square Garden show, again allowing Pandora fans to vicariously experience the concert(20).  The below clip(21) shows Jordan Klepper interviewing Jack White speaking about his upcoming MSG show; an example of additional content created by Pandora that was  used exclusively during this campaign.

Finally Pandora in early April, in a joint venture with AEG Live’s Concerts West, announced an official tour pre-sale for the Rolling Stone’s upcoming ZIP CODE tour exclusively through Pandora.  Pandora users were given access to pre-sale tickets 4 days before the general sale began on April 13th, 2015(22).  And Pandora again created a digital mixtape of songs hand selected by members of the Rolling Stones themselves.  This campaign was beneficial to both parties, and offered Pandora increased outreach with their fans, establish a relationship with major concert promoter AEG Live, as well as continued their pursuit of the live entertainment market.

All three of these events show the future direction Pandora as a company is currently moving towards.  Pandora will continue the success of their already well established streaming service, while developing the company to include new outlets within their business model.

Sources

 (1) – Pandora Logo – press.pandora.com – RT: 4/17/2015

(2) – Pandora App Logo – press.pandora.com – RT: 4/17/2015

(3) – Pandora User Number – statista.com – RT: 4/17/2015

(4)- Pandora One pricing – pandora.com/one – RT: 4/17/2015

(5) – Brian McAndrews Headshot – rightstartups.com – RT: 4/17/2015

(6) – Tim Westergren Headshot – chicagoideas.com – RT: 4/17/2015

(7) – Sara Clemens Headshot – thedeal.com – RT: 4/17/2015

(8) – Spotify User Number – press.spotify.com – RT: 4/17/2015

(9) – Pandora End of the Year Financial Report 2014 – press.pandora.com – RT: 4/17/2015

(10) – SoundExchange Fees – gigaom.com – RT: 4/17/2015

(11) – Billboard Apple Watch – billboard.com – RT: 4/17/2015

(12) – Tidal Launch – billboard.com – RT: 4/17/2015

(13) – Aspiro Yahoo Finance – yahoo.com/finance – RT: 4/17/2015

(14) – Pandora Screenshot – pandora.com – RT: 4/17/2015

(15) – Billboard Apple Watch Photo – billboard.com – RT: 4/17/2015

(16) – Tidal Signing Photo – nypost.com – RT: 4/17/2015

(17) – Apple Acquisition of Beats – forbes.com – RT: 4/17/2015

(18) – Apple 500 Million Users – appleinsider.com – RT: 4/17/2015

(19) – Pandora SXSW Poster – music.mxdwn.com – RT: 4/17/2015

(20) – Jack White Pandora Press MSG – press.pandora.com – RT: 4/17/2015

(21) – Jack White Pandora MSG 72 Hour Stream – youtube.com – RT: 4/17/2015

(21) – Pandora / AEG Exclusive Presale – press.pandora.com – RT: 4/17/2015

Spotify

Posted on by 
by ERIN SINGLETON

HEADQUARTERS

Spotify AB
Birger Jarlsgatan 61, 10tr
113 56 Stockholm
Sweden
556786-5729
(Research & Development)

Spotify Ltd.
4th Floor
25 Argyll Street
London W1F 7TU
United Kingdom
(Main headquarters)

http://www.spotify.com/

KEY EXECUTIVES [1]

ABOUT 

 Spotify is a digital music streaming service that allows users to create personal playlists and radio stations, browse Spotify-curated playlists, and share music with friends. Users can do this through their mobile devices, tablets, or desktop computers. The service currently has more than 30 million songs registered within its system through licenses with major labels and recording artists [2]. Developed in 2006 by entrepreneurs Daniel Ek and Martin Lorentzon in Stockholm, Sweden, Spotify was created as a response to the illegal downloading of music going on by consumers through piracy sites like Napster [3]. In 2008 the service was launched in Scandinavia, France, the U.K. and Spain; in 2011, it made its way to the U.S [3]. There are currently over 60 million users (15 million of which are paying users,) 1.5 billion playlists, and 20,000 songs added per day [2].

MARKET EXPANSION

Spotify is currently available in 58 markets worldwide, including Brazil, Germany, New Zealand, Nicaragua, Taiwan, Italy, and more [2]. In 2013, Spotify expanded to 8 new locations in its steps towards penetrating Latin America and Asia markets, launching in Mexico, Hong Kong, Malaysia, and Singapore [4]. Spotify introduced Canada’s launch in 2014 [5]. Plans to enter Japan are still in the works, and previous plans to enter Russia have been halted due to its unstable economic conditions [6]. As Spotify has continued to expand its availability across the globe, its number of users has greatly increased every year.

 FINANCIALS

Despite industry rumors, Spotify still remains a privately funded company and is not going public anytime soon[7][8]. Spotify is currently close to completing a new round of funding from Goldman Sachs and an Abu Dhabi sovereign wealth funds, raising $400 million and putting its value at $8.4 billion [9]. After the deal, Spotify will be worth double the value of its closest competitor, Pandora Music ($3.85 billion), despite having higher net losses than Pandora and less market share (6% versus 31%, respectively) [10]. The deal will also put Spotify at the top ranks of the highest valued privately funded technology companies, along with Square, Dropbox, and Airbnb [11].

BUSINESS MODEL

There are two tiers for Spotify users: ‘freemium,’ a free, ad-supported streaming format, and ‘premium,’ an ad-free streaming subscription for $9.99/month. The premium subscription comes with other perks, including unlimited song skips, offline mode ability, and on-demand mobile access [12]. Additionally, there is a student tier for $4.99/month and a family plan for $5.99/month. Spotify philosophizes that the freemium option will drive users to eventually pay for the better experience [2]. Through these payment options, Spotify has paid $2 billion USD to the music industry, $1 billion of which coming from 2014 alone [2]. 70% of revenues earned are paid out to rights holders in the industry, while Spotify holds onto the remaining 30% [2]. Spotify does not pay ‘per stream,’ but rather through royalty statements that are dependent on the country the artist is being streamed, the number of paid users, the country’s currency value, and the artist’s royalty rate. As a result, ‘per stream’ payouts are typically between $0.006 and $0.0084 [2].

ARTIST BACKLASH

do-no-reuse-taylor-swift-the-beat-bb36-sarah-barlow-billboard-650

Taylor Swift pulled her catalogue off Spotify this fall 2014. Image courtesy of Billboard

With the trending drop of physical sales and digital downloads, there has been heavy debate circulating the music industry involving streaming companies’ payouts. More specifically, there has been criticism from recording artists and songwriters who feel that their ‘art’ is being undervalued and deserves fairer compensation from streaming services. Just this past fall, Taylor Swift pulled her entire catalog off of Spotify in defense of songwriters, saying that she is “not willing to contribute [her] life’s work to an experiment that [she doesn’t] feel fairly compensates the writers, producers, artists, and creators of this music” [13]. Other artists who have called out against the streaming service include Jason Aldean, Radiohead’s Thom Yorke, Talking Heads’ David Byrne, and others [14]. In response, Ek argues that record labels are to blame since they are the owners of the music and thus the ones distributing it to their artists under their own respective terms [14].

The biggest artist-led backlash against Spotify is the creation of competitive streaming service Tidal, an artist-owned global music and entertainment platform ran by Jay Z, Beyoncé, Deadmau5, Madonna, and other music superstars [15]. To counter artist tensions, Spotify recently rolled out a new feature called Tweet the Beat, which allows users to express their gratitude towards their favorite artists through an interface pop-up asking them to thank the artist via a pre-written tweet [16]. Rihanna is the only artist users have been asked to thank. This experimental feature has been negatively received by Spotify users, who view it as a spam [15]. A Spotify spokesperson says that, “[They’re] always testing new things on our different platforms and to various user groups,” most likely to stick out amongst the competition [15]. However, Tweet the Beat has been rolled back as a result of such critical opinions.

RECENT NEWS

These past few years have been busy ones for Spotify as the company proactively works towards staying ahead of the concentrated streaming market. In January of 2015, Spotify introduced Touch Preview, a “better way to preview any song, album, artist, or playlist” [17]. This feature allows users to gain a “sneak peak” to a song or playlist by holding down a finger to the screen to preview the song instantaneously. If the user likes what they hear, they can save the song with one simple swipe.

In February of 2015, Spotify introduced an update for desktop users, presenting fully integrated lyrics, powered by Musixmatch, as well as an explore option to search popular lyrics from Spotify’s top songs [18]. The desktop update also included easier access to Friend Feed, which allows users to discover what their friends are currently listening to, as well as a revamping of daily viral charts.

 

In March of 2015, Spotify’s PlayStation Music was launched in partnership with Sony Network Entertainment International LLC, making it “easier than ever for gamers to enjoy their favorite tracks whilst playing their favorite games” [19]. Users are able to create their own on-demand soundtracks to their games without interruption to the gaming experience. Just this April 2015, Spotify launched Spotify for Brands, a platform that reveals audience statistics and insights to benefit brands in their endeavor to connect with the younger generations [20].

OVERVIEW

Since its 2006 development and 2008 initial launch, Spotify has demonstrated significant exponential growth over the past 7 years with no sign of slowing down anytime soon. Leading the pack in the digital streaming market, the service is tirelessly working towards providing unique innovations and opportunities for its consumers that one can only expect to continue in the many years to come.

SOURCES

[1] Spotify Biographies, Spotify Press.

[2] Spotify Artists, Spotify Explained.

[3] Forbes, Spotify’s Daniel Ek: The Most Important Man In Music

[4] Chicago Tribune, Spotify Expanding into Asia, Latin America

[5] Spotify Press, Spotify is Live in Canada!

[6] Business Insider, Spotify has cancelled its launch in Russia

[7] Yahoo! Finance, Spotify seeks to hire U.S. filings expert as bankers eye IPO

[8] Yahoo! Finance, Spotify isn’t going public anytime soon

[9] Yahoo! Finance, Spotify Nears New Funding at Valuation of $8.4 Billion

[10] Market Realist, Why Is Spotify’s Valuation More than Double Pandora’s?

[11] Wall Street Journal, The Billion Dollar Startup Club

[12] Pocket-Lint, Spotify free vs Spotify premium: What’s the difference?

[13] Rolling Stone, Taylor Swift’s Label Head Explains Spotify Removal

[14] Rolling Stone, Spotify Founder Fires Back at Taylor Swift

[15] The Telegraph, Stars lead backlist against Spotify with their own music streaming site Tidal

[16] Digital Trends, Spotify Rolls Back ‘Tweet the Beat’ for Rihanna After Back Lash

[17] Spotify Press, Introducing Touch Preview: a better way to preview any song, album, artist, or playlist

[18] Spotify Press, Introducing our latest update for Spotify on desktop

[19] Spotify Press, Soundtrack your game with Spotify on PlayStation Music

[20] Spotify Press, Spotify launches playlist targeting for brands

20th Century Fox (film only)

Posted on by 
by ABBY ELYSSA
[20] 20th Century Fox Logo

[20] 20th Century Fox Logo

HISTORY

Twentieth Century Fox Film Corporation, or 20th Century Fox, is one of America’s top six film studios and a film distributor overseen by 21st Century Fox. The corporation was formed in 1935, after the Twentieth Century Pictures and the Fox Film Corporation merger. William Fox, a film distributor, founded the Fox Film Corporation in 1914. When the Great Depression hit, the Fox Film Corporation had trouble financing its high-tech equipment, prompting the merger. Joseph Schenck and Darryl F. Zanuck founded Twentieth Century Pictures in 1933. In 1981, Marvin Davis, who eventually sold it to publisher Rupert Murdoch in 1985, bought the corporation. Murdoch consolidated both his film and television companies into Fox Inc., which was under News Corporation. In 2013, it split into two publishing and television/film companies, News Corporation and 21st Century Fox respectively. Its two highest grossing films were both of James Cameron’s Avatar (2009) and Titanic (1997) [1].

TOP EXECUTIVES

James N. Gianopulos, Chairman & CEO

James N. Gianopulos, [2]        Chairman & CEO

Stacey Snider, Co-Chairman

Stacey Snider,                                         [3] Co-Chairman

FINANCIALS

In 2014, 20th Century Fox released 24 films domestically. The films are produced and/or distributed by the following companies: Twentieth Century Fox and Fox2000 (mainstream audiences), Fox Searchlight Pictures (specialized audiences), and Twentieth Century Fox Animation (animated films). Fox International Productions, Inc. co-produces, co-finances and acquires local-language motion pictures for international distribution. This year, the corporation plans to release 26 motion pictures total.

The corporation generates revenue through film distribution for theatrical exhibition in America, Canada and international markets, the distribution of films and other programming in various media formats, the distribution of films and other programming for exhibition on premium pay and subscription video-on-demand (SVOD), and through the distribution of films on free television networks and other broadcast program services.

In 2014, the corporation released approximately 1,249 produced and acquired titles, up from 1,230 the previous year. The Corporation also had 1,004 international releases, up from 934 the previous year. 20th Century Fox also continued its arrangement to distribute DreamWorks Animation’s new release animated films and other catalog motion pictures and programming. It plans to distribute three DreamWorks films in 2015. Last year, 20th Century Fox also continued its worldwide home video distribution agreement with Metro-Goldwyn-Mayer (MGM), Lions Gate Films Inc. (Lions Gate) (U.S. only) and Anchor Bay Entertainment, LLC (Anchor Bay) (U.S. and Canada) [4].

IN THEATERS

“Kingsman: The Secret Service”

The action/adventure drama stars Colin Firth, Samuel L. Jackson, Mark Strong, Taron Egerton and Michael Caine. The film was directed by Matthew Vaughn and is based on the comic book “The Secret Service” by Dave Gibbons and Mark Millar. The film follows a spy organization with a new and young recruit and outside technological threats [5].

The film was released on February 13, 2015. Its opening weekend (President’s Day Weekend) grossed $36.2 million and received a #2 rank in 3,204 theaters, averaging 11,300 per theater, 29% its total gross. It grossed $124.7 million domestically and $266.8 overseas ($391.6 worldwide) [6]. The film is especially popular in South Korea, with a record-breaking $40 million at the box office, out-grossing James Bond and Jason Bourne. It’s Korea’s biggest hit since Avatar [7].

“Home”

Home is a 3-D animated comedy, distributed by 20th Century Fox that stars Jim Parsons, Rihanna, Jennifer Lopez and Steve Martin. The film was directed by Tim Johnson and is based on the children’s book The True Meaning of Smekday by Adam Rex. The film follows a runaway alien who ends up on planet Earth and finds a friend in search of adventure as well [8].

The film was released on March 27, 2015 and grossed $52.1 million its opening weekend. DreamWorks Animation, which produced the film, estimated an opening gross between $30-35 million. The film opened at #1 in 3,708 theaters, averaging $14,053 per theater, 39.8% its total gross [9]. Home also pulled in an international gross of $25.4 million, higher than its projected $24 million. The film’s domestic total is $130.8 million and $112.6 overseas ($243.5 million worldwide) [10].

“The Longest Ride”

The romantic drama based on Nicholas Sparks’ novel of the same name, stars Scott Eastwood, Britt Robertson, Jack Huston and Oona Chaplin. The film was directed by George Tillman, Jr. and follows the lives of two couples from different time periods facing the same relationship troubles [11].

The film was released on April 10, 2015 and grossed $13 million its opening weekend ranking #3. It opened in 3,366 theaters and averaging $3,868 per theater, 86.6% its total gross. Its domestic total is $15 million and $2.8 million overseas ($17.8 million worldwide) [12]. This is a good opening weekend for a Nicholas Sparks’ adaptation. The Longest Ride is above last year’s The Best of Me ($10 million), and is grossing similar figures as The Notebook and Nights in Rodanthe. The film is projected to earn $30 million against a $34 million budget [13].

UPCOMING

Poltergeist (May 22, 2015)

The supernatural thriller is a remake of the 1982 film of the same name and stars Sam Rockwell, Jared Harris and Rosemarie Dewitt. The film was directed by Gil Kenan and follows a suburban family living in a haunted home with their daughter held captive [14].

Spy (June 5, 2015)

The action comedy stars Melissa McCarthy, Jason Stratham, Rose Byrne, Miranda Hart, Bobby Cannavale, Allison Janney and Jude Law. The film was directed by Paul Feig and is about an unlikely CIA analyst who goes on the agency’s most dangerous missions and tries to halt a global disaster [15].

THE FUTURE

On April 11, 2015, 20th Century Fox passed the $1 billion box office mark. This is the fastest time the company reached this since 2010 after Avatar was released. Kingsman: The Secret Service and Home have been major assets, and are still in 31 and 69 markets respectively [16].

20th Century Fox is currently teaming up with Hasbro to create a Play-Doh movie, based on the manufacturer’s modeling clay. The corporation is in contact with director Paul Feig (Bridesmaids, Spy) and screenwriter Jason Micallef for the project [17].

The corporation also seeks to expand its international YouTube presence. 20th Century Fox plans to do this through a deal with U.K. based tech group, Rightster [18]. Rightster currently manages the corporation’s branded content in Europe and Latin America. The  two-year deal will let Rightster manage 20th Century Fox’s YouTube marketing strategy for 35 of its channels. This will focus on channel management and audience  development, with execution of content and influencer-driven viral marketing campaigns [19].

SOURCES

[1] “20th Century Fox Film Corporation: American Motion-Picture Studio.” Britannica. 20 Aug. 2014. Web. 9 Apr. 2014.

[Image, James] Lang, Brent. “Fox’s Jim Gianopulos Leads Studio Through Uncertain Times.” Variety. 19 Aug. 2014. Web. 16 Apr. 2015.

[2] “Management.” 21st Century Fox. Web. 9 Aug. 2014.

[3] “Stacey Snider Joins 20th Century Fox Today As Co-Chairman.” Deadline Hollywood. 3 Nov. 2014. Web. 16 Apr. 2015.

[4] “Annual Reports.” 21st Century Fox. Web. 13 Aug. 2014.

[5] “Kingman: The Secret Service.” IMDb. Web. 15 Apr. 2015.

[6] “Kingsman: The Secret Service.” Box Office Mojo. Web. 13 Apr. 2015.

[7] Cunningham, Todd. “How ‘Kingsman: The Secret Service’ Blew Away Bond, Bourne in South Korea.” The Wrap. 23 Mar. 2015. Web. 14 Apr. 2015.

[8] “Home.” IMDb. Web. 15 Apr. 2015.

[9] “Home.” Box Office Mojo. Web. 15 Apr. 2015.

[10, 13] Subers, Ray. “Weekend Report: ‘Furious 7’ Repeats, Sets Opening Day Record in China.” Box Office Mojo. 12 Apr. 2015. Web. 16 Apr. 2015.

[11] “The Longest Ride.” IMDb. Web. 16 Apr. 2015.

[12] “The Longest Ride.” Box Office Mojo. Web. 16 Apr. 2015.

[14] “Poltergeist.” Movie Insider. Web. 16 Apr. 2015.

[15] “Spy.” IMDb. Web. 16 Apr. 2015.

[16] Busch, Anita. “Fox Hits $1B International Box Office Mark.” Deadline Hollywood. 6 Apr. 2015. Web. 15 Apr. 2015.

[17] Siouty, Michelle. “20th Century Fox and Hasbro in Talks to Create Play-Doh…the Movie.” Movie Pilot. 17 Apr. 2015. Web. 15 Apr. 2015.

[18] Harrington, John. “Rightster Group Deepens Relationship with 20th Century Fox.” Proactive Investors. 17 Apr. 2015. Web. 17 Apr. 2015.

[19] Jarvey, Natalie. “20th Century Fox Pacts With Rightster to Bolster YouTube Presence Abroad.” Hollywood Reporter. 16 Apr. 2015. Web. 17 Apr. 2015.

[20] “20th Century Fox Logo.” Fox Movies. Web. 17 Apr. 2015.

Buena Vista/Disney Pictures

Posted on by 
by JORDYN ROSENBERG
Disney Pictures Logo

[2] Walt Disney Pictures Logo

HISTORY 

 From 1988 to present day, Disney Pictures has released some of the most successful films in Hollywood. Disney’s most iconic and memorable titles include, The Lion King, The Little Mermaid, Aladdin and Beauty and The Beast. Disney has pushed the boundaries of the film industry since its beginning with the production of the first full length animation film, Snow White and The Seven Dwarfs, in 1937, as well as the release of their first live action film, Treasure Island, in 1950 [1].

After the death of Walt Disney in 1966 his brother Roy Disney took the lead. The company only continued to grow when Robert Iger was named chief executive officer in 2005. Currently, Disney owns Walt Disney Animation Studios, Marvel, Touchstone, Disneynature & Lucasfilms. On February 5th 2015, Thomas O. Staggs, [16] Chairman of Walt Disney Parks and Resorts, was named Chief Operating Officer of The Walt Disney Company.

FINANCIALS

In 2015, Buena Vista or Disney Pictures Studios held 10.8% market share and earned a  total gross of $319 million. With only three movie releases thus far in 2015, the studio is ranked 4th. [13] The studio is behind 20th Century Fox, Universal, and Warner Bros. The companies rank is anticipated to rise with the rest of their 2015 slate. [3] After a full slate of 13 movies in 2014, the company grossed $1,617.5  billion, held a market share of 15.6% and ranked 2nd behind 20th Century Fox. The Walt Disney Company released its first quarterly report [14] for 2015 on February 3rd. Within the overall company, earnings per share increased 23% to $1.27 billion from $1.03 billion in the 2014 fourth quarter report [15]. Specifically, in studio entertainment, revenues have decreased 2% to 1.9 billion from 1.8 billion in 2014. Lower theatrical distribution numbers were a result of the performance of Big Hero 6 in comparsion to the release of Frozen last year.

KEY EXECUTIVES 

Alan Bergman - President, The Walt Disney Studios

[22] Alan Bergman – President, The Walt Disney Studios

Alan Horn - Chairman, Walt Disney Studios

[23] Alan Horn – Chairman, The Walt Disney   Studios

 

Robert Iger - Chairman and Executive Officer, The Walt Disney Company

[24] Robert Iger – Chairman and Executive Officer, The Walt Disney Company

IN THEATERS

Cinderella 

The live-action remake, directed by Kenneth Branagh, of the notorious Disney animation, Cinderella, did well in the box office opening weekend. Opening at number 1, the weekend of March 13th 2015, the movie earned an opening weekend gross of $67,877,361 domestically. Including international gross, the film made over $70 million opening weekend and made their $95 million budget in the second week. In total, Cinderella has made $438,036,467 worldwide [6]. With a large part of the target audience being female children, the cast, including, Lily James and Richard Madden, was fairly unknown [7]. The seven minute Frozen Fever short at the beginning of the film, based of the extremely popular animation Frozen, may have been a drawing factor for audiences. Although the film had one of the biggest debuts of the year, its numbers fell short of what was expected by Disney. The lower figures mean the new film fell behind Disney’s last live-action remake, Maleficent [8]. 

Monkey Kingdom

The Disneynature film, set in South Asia, follows the story of a macaque monkey, named Maya. With a new son, Kip, and her longtime home, Castle Rock, being taken over, Maya faces various struggles. Her ultimate goal is to get her home back and establish a good future for her son. The movie is narrated by Tina Fey. The director of the film, Mark Linfield, spent over 2 and a half years filming and following the animals for the movie [9]. The movie was released on April 17th. The opening weekend numbers have yet to be released.                                                                                .                                                                             .

SPRING 2015 RELEASES

 McFarland, USA

Released on February 20th, 2015, the sports-drama, McFarland USA, tells the story of a high school cross-country team as they attempt to succeed under the supervision of a new coach, played by Kevin Costner. The director of the film, Niki Caro, expressed that film is especially timely with the current debate over immigration [5]. The movie is set in a highly immigrated area and a majority of the athletes are from migrant families. Opening weekend grossed $11,020,798 and the movie made an overall domestic total of $42,715,645 [4]. The film was not as successful as Disney had hoped, opening at number 4 in theaters and continually falling in rank week to week.                                                                     .

FUTURE SLATE

Tomorrowland

Tomorrowland will be released on May 22nd 2015. The movie was directed by Brad Bird and stars Academy Award winning actor, George Clooney. The cast also includes Britt Robertson, this year’s “Star of Tomorrow” award winner [11] at CinemaCon, and Judy Greer. The films tells the story of a young girl who finds a mysterious and magical pin. Touching the pin reveals a new and better world [10]. Disney is keeping the details of the plot a vaulted secret. Disney’s new sci-fi/fantasy film is inspired by the Disneyland park attraction and Disney World’s Epcot theme park. In a newly released featurette, Disney informs audiences of the tie between the film, Walt Disney and his original team’s vision for the future. The film is inspired by Walt’s vision of what the future would be like, as well as his ideas for the development of society [12]. The nostalgia of the film and reference to Walt Disney, adds Tomorrowland to Disney’s list of inspired remake films, such as last year’s Maleficent and this year’s Cinderella. 

FUTURE FOR DISNEY PICTURES

On March 12th 2015, The Walt Disney Company held their 2015 annual meeting of shareholders [17]. At the meeting, CEO Robert Iger and Chief Creative Officer, John Lassester [18] announced exciting future projects for Disney. In October of 2012 Walt Disney Studios bought Lucasfilm for $4 billion [19]. At this years annual meeting, Disney acknowledged three new Star Wars projects the studio has been working on. Star Wars: The Force Awakens will premier in theaters on December 18th 2015. The film is the 7th episode of the Star Wars series and is set thirty years after the last Star Wars film, Star Wars: Episode VI – Return of the Jedi, which was released in 1983. The film was directed by J.J. Abrams and stars Mark Hamill, Harrison Ford, & Carrie Fisher. The 2nd official teaser was released in April 16th 2015.

At the meeting, Iger announced the production of another Star Wars film, Rogue One. Set to release on December 16th 2016, the film written by George Lucas is a spin-off to the original franchise. Finally, Star Wars: Episode VIII will arrive in theaters on May 26th 2017 [20]. The film will be directed by Rian Johnson and will continue the Star Wars story after episode 7.  In addition, Disney Animation has officially announced plan of production for Frozen 2. After the huge success of the original film, it is no surprise that Disney is taking advantage of a sequel [21]. A release date has yet to be set for the film.

SOURCES

[1] Walt Disney Studios History. Walt Disney Studios. Retrieved: April 16th 2015

[2] Walt Disney Studios Logo. Walt Disney Studios. Retrieved: April 16th 2015

[3] Walt Disney Studios Current Slate. Walt Disney Studios. Retrieved April 16th 2015

[4] McFarland USA. Box Office Mojo. Retrieved April 16th 2015

[5] Johnson, Ted (February 21st 2015) What McFarland USA Says About Immigration. Variety. Retrieved April 16th 2015

[6] Cinderella (2015). Box Office Mojo. Retrieved April 16th 2015

[7] Acuna, Kirsten (March 16th 2015) Cinderella Opening Weekend. Business Insider. Retrieved April 16th 2015

[8] Lang, Brent (March 16th 2015) Cinderella Falls Short. Variety. Retrieved: April 16th 2015

[9] Miller, Gregory (April 16th 2015) Monkeys of ‘Monkey Kingdom’ NY Post. Retrieved: April 16th 2015

[10] Breznican, Anthony (January 18th 2015) George Clooney & Tomorrowland. Entertainment Weekly. Retrieved: April 16th 2015

[11] Lang, Brent (March 11th 2015) Britt Robertson Tomorrowland. Variety. Retrieved: April 16th 2015

[12] White, James (April 16th 2015) Tomorrowland Featurette. Empire Online. Retrieved: April 16th 2015

[13] Box Office by Studio: Buena Vista. Box Office Mojo. Retrieved: April 17th 2015

[14] Walt Disney First Quarter 2015. Walt Disney Studios. Retrieved: April 17th 2015.

[15] Walt Disney Fourth Quarter 2014. Walt Disney Studios. Retrieved: April 17th 2015

[16] Thomas Staggs COO. Walt Disney Pictures. Retrieved: April 17th 2015

[17] Disney Annual Shareholders Meeting 2015. Walt Disney Company. Retrieved: April 17th 2015

[18] John Lasseter. Walt Disney Company. Retrieved: April 17th 2015

[19] Krantz, Matt (October 30, 2012). Disney Lucasfilm. USA Today. Retrieved: April 17th 2015

[20] Kludt, Tom (March 12 2015). Star Wars Episode VIII. CNN Money. Retrieved: April 17th 2015

[21] Graser, Mark (March 12 2015). Frozen 2. Variety. Retrieved: April 17th 2015

[22] Alan Bergman. Walt Disney Studios. Retrieved: April 17th 2015

[23] Alan Horn. Walt Disney Studios. Retrieved: April 17th 2015

[24] Robert Iger. Walt Disney Company. Retrieved: April 17th 2015

[25] Lion King Movie Poster. Fan Pop. Retrieved: April 17th 2015

[26] Treasure Island Poster. Wikimedia. Retrieved: April 17th 2015

[27] Alan Bergman Picture. Walt Disney. Retrieved: April 17th 2015

[28] Alan Horn Picture. Walt Disney. Retrieved: April 17th 2015

[29] Robert Iger Picture. Walt Disney. Retrieved: April 17th 2015

[30] Cinderella Poser. Wikia. Retrieved: April 17th 2015

[31] Monkey Kingdom Poster. StitchKingdom. Retrieved: April 17th 2015

[32] McFarland USA Poster. IMP Awards. Retrieved: April 17th 2015

[33] Tomorrowland Poster. WP Images. Retrieved: April 17th 2015

[34] Star Wars: The Force Awakens. IMDB Media. Poster Retrieved: April 17th 2015

[35] Annual Shareholders Meeting Image. Visions Fantastic. Retrieved: April 17th 2015

 

 

 

DreamWorks Studios

Posted on by 
by SOPHIA HOEKE

DreamWorks Studios

DreamWorks Studios is a production company based in Universal City, California, and they are most widely known for producing feature films, however, they also produce television programming, music, and video games. The founders of DreamWorks studios are Jeffery Katzenberg, Steven Spielberg, and David Geffen. They founded the company in 1994 and the current CEO is Stacey Snider. DreamWorks has produced films such as Shrek (2001), American Beauty (1999), Meet the Fockers (2004), A Beautiful Mind (2001), Saving Private Ryan (1998), and Cast Away (2000).

When DreamWorks was founded in 1994, all three male founders, Steven Spielberg, Jeffrey Katzenberg, and David Geffen, were already industry royalty and paired together knowing they were about to create something great. Geffen confidently stated that it was the first time in his career that he actually wanted to work with partners.

Shrek was the first franchise that really turned DreamWorks Studios into the booming company the Katzenberg always wanted, but not in the way he intended. The film incorporated a celebrity cast, a boy-friendly narrative, obnoxious pop-culture references, and more, and eventually lead to the company producing all of the recognizable crazy-funny, talking-animal type films, but this was not the artistic direction in which the founders had wished the company would pursue.

As of Fall 2004, DreamWorks Studios is no longer affiliated with DreamWorks Animation. Dream Works Animation spun off into a publicly traded company that solely produced animated feature films and TV programs. DreamWorks Studios’ founder, Jeffrey Katzenberg, moved with DWA and currently holds their position of CEO.

Here is a video by Ethan Jones of Movie Munchies of the variation of the DreamWorks logo as it progressed and the turned into the DreamWorks Animation logo after the separation in 2004.

In late March, it was announced that Steven Spielberg is signed to direct “Ready Player One”, a screenplay of the original Science Fiction novel written by Ernest Cline, the only catch is, this film is being produced by Warner Bros., not Dreamworks Studios. So the question is why did Spielberg make this temporary move and what effect will it have on Dreamworks?

ready-player-one-featured

According to this news clip by Jeff Sneider, a film reporter for The Wrap, Spielberg may be the perfect fit to head this project because he was raised as a gamer and the plot of the movie is based around ‘80’s pop culture. Although Spielberg did not grow up in the ‘80’s, he certainly had a hand in creating the pop culture of the time. So those reason may have to do with Spielberg’s choice to take a leave of absence from his own studio, leaving it temporarily in the hands of Michael Wright and Halle Berry.

Bloomberg Business also fills us in on Spielberg’s collaboration with Walt Disney Co. to produce Roald Dahl’s The BFG. Walden Media is a principle investor in the Vancouver-based production of this film about everyone’s favorite big friendly giant. One of the reasons that Spielberg is helping Disney out with this project is that Disney is currently taking care of all DreamWorks Studios distribution deals, and has lent DreamWorks $156 million with another $90 million coming this September to help with their company debt. Michael Wright, DreamWorks Studios’ CEO says,

“Over the years, we have enjoyed a fruitful collaboration, and we couldn’t be more excited to be working with Disney in this expanded capacity on ‘The BFG,’”

As of last year, Disney had distributed 11 DreamWorks Studios films, and this collaboration will only lead to continuing future endeavors between the two companies.

So with DreamWorks Studios going through these tough times with little to no feature films in production over the past few months and temporarily losing their founder and top director, Steven Spielberg, what have they been doing?

Characters-of-DreamWorks-wallpaper-dreamworks-animation-26449044-1366-768

DreamWorks has been very busy negotiating and making plans with The Foundation for Investment in the Riviera Maya to build an amusement park in the popular tourist city of Cancun in Punta Maroma. The new park will be modeled similarly to the other DreamWorks Studios amusement park located just outside of New York. There will be restaurants, commercial spaces, theaters, and aquatic attractions themed around Madagascar, Antz, Shark Tale, Puss in Boots, and of course, Shrek.

Puss in Boots Roller Coaster

This is not the only amusement park endeavor that DreamWorks Studios has been working on recently. In Singapore, DreamWorks is launching it’s first ever suspended roller coasted themed around one of their famous characters, Puss in Boots.

Hollywood Reporter also tells us that there are also plans being made by DreamWorks executives to collaborate with the same trio of Chinese production companies that developed Transformers: Age of Extinction in conjunction with Paramount. Jiaflix, China Movie Channel, and 1905 Pictures are all joining with DreamWorks Studios to put into action their plans for the Need For Speed sequel. Jiaflix president, Marc Ganis, confidently stated,

“We expect this partnership, which brings together a winning brand like Need For Speed with the team that propelled Transformers 4 to unprecedented success, will create one of the next great franchises for movie fans around the world.”

The film does not have a cast, writer, or director yet, but the proposal from these three companies has been made to DreamWorks, and they are eagerly awaiting a response.

Need For Speed

Another production deal that is underway but being kept a very big secret is a Netflix original series produced by DreamWorks called Dinotrux. Rotoscopers tells us that this project has been in production for some time now and is set to be released in Summer 2015. Other than the projected release date, and a promotional Facebook page containing only graphic images, no more information has been released.

dinotrux

DreamWorks has been having a seemingly quiet year, however that has not been the case. There have not been many feature films released in the last few months nor have many been put into production, but the efforts of the studio to stay afloat despite their recent downward spiral are prevalent. The company has invested in various projects as stated above and is making sacrifices where necessary. In example, temporarily carrying on without their founder and primary director, Steven Spielberg, while he partners with companies that will help DreamWorks with their debt. All of these smaller projects and partnerships will hopefully help DreamWorks Studios find it’s way back to producing feature films.

DreamWorks Studios

MGM Motion Pictures

Image

by MARIA J. NACER
Screen Shot 2015-04-17 at 6.06.09 PM

-[1] MGM Logo

Metro-Goldwyn-Mayer Headquarters

MGM Studios Inc.
245 N Beverly Dr.
Beverly Hills, CA 90210
Phone: (310) 449-3000 Website: mgm.com

ABOUT

MGM Motion Pictures is one division of the entertainment company, Metro-Goldwyn-Mayer. The division is mainly focused on the production and global distribution of film content. [2] The company was founded in April of 1924 by Marcus Loew, a film exhibitor and distributor. Loew had bought Metro Pictures Corp. in 1920, and after four years he merged his company with Goldwyn Pictures and Louis B. Mayer Productions.

MGM takes credit in the development, production, and co-production of many great classic films like; The Wizard of Oz, Gone With the Wind, the James Bond and Rocky franchises,The Hobbit, 21 Jump Street, among thousands of other movies.[3]

To learn more about the company and their films click here.

FINANCIALS

MGM generates revenues by exploiting their content through traditional and digital distribution platforms, as well as from licensing content and intellectual property rights. The company’s last financial report available is from 2014. The same reveals that MGM’s total revenue for the year ended December 31, 2014 was $1.44 million, which suggest that their revenues were $82.5 million lower than the $1.53 billion revenue for 2013.[4] However, this was to be expected being that MGM 2013 revenues include the $1.1 billion gross from the worldwide release of Skyfall from the James Bond franchise.[5]

Although the film division of MGM Studios did better on 2013 than in 2014 in terms of revenues, their net income for 2014 was $155.6 million, a $33.4 million higher than their 2013 net income which was $122.1 million. This was mostly due to their worldwide television licensing which increased $97.1 million in revenues from 2013 to 2014 thanks to their success of their televisions series, which include Teen Wolf, Vikings, among others.[4]

Another thing to consider from the film revenue side of MGM is that The Hobbit: The Battle of the Five Armies grossed $955.1 million at the box office and those numbers will be shown in the financial report for 2015 which could possibly mean an increase from 2014 in film revenues and in net income.[6] The same thing can be expected from the 2016 financial reports where the company will include the gross numbers from big revenues movies like Spectre and possibly Creed (Rocky 7).

 SPRING 2015 RELEASED

hottub2_poster

-[7] “Hot Tub Time Machine 2” movie poster.

So far, MGM’s only Spring 2015 released movie was Hot Tub Time Machine 2, which came out in theaters in February 20. The box office results for the comedy sequel were not good, being that they could not  breakeven with a total gross of $12.3 million for a production budget of $14 million. [7] This number were quite disappointing considering that the first one grossed $64.5 million worldwide with a production budget of $36 million back in 2010.

UPCOMING

The new comedy Hot Pursuit is just weeks away from coming out in theaters. The movie that is set to come out in theaters in May 8, was co-produced by Metro-Goldwyn-Mayer Pictures and New Line Media, a Warner Bros. subsidiary. [8]

PosterFull-HTPST_1sht_Main_DOM

-[10] “Hot Pursuit” movie poster.

The movie features actresses Reese Witherspoon and Sofia Vergara. Witherspoon is a cop given the task to escort a key witness (Vergara) in the trial of a drug lord. The comedy promises to be really good, hopefully resulting in good box office gross for MGM studios. [9]

To watch trailer and learn more about the movie click on Hot Pursuit.

 

 

 

PosterFull-0POLTERGE-poster-001

-[11] “Poltergeist” movie poster.

Another soon to be released film by MGM is Poltergeist, the remake of the 1982 classic horror film. The movie is the result of a co-production with 20th Century Fox and the work of filmmaker Sam Raimi with director Gil Kenan. Featuring the story of a family whose new house is haunted by evil forces, the film opens in theaters May 22.[11] Reviewers say that the marketing has done a good job with differentiating the movie from the original film and the predictions suggest that the movie can easily end up with more that $100 million gross.[12]

To watch trailer click here.

 

MV5BMjA2Nzk0NzIyN15BMl5BanBnXkFtZTgwMjEyNTE5NDE@._V1_SX214_AL_

-[13] “MAX” movie poster.

Coming out in June 26 is Max. An MGM film co-produced with Warner Bros. that tells the story, inspired by true life events, of a dog that helped US Marines in Afghanistan and is adopted by the family of his handler after a traumatic experience in the battle field. [24]

Aside from all of the above, the most important movie for MGM in 2015 will be Spectre, the 24th film of the James Bond franchise. The last James Bond movie produced over $1 billion and the studio is hoping to top this with a production budget higher than Skyfall’s $200 million.[14]

BoxartFull-spectre_c

-[18] “Specter” movie poster.

Metro-Goldwyn-Mayer is co-producing this film with Sony, and it appears that they have been having some problems with the budget. Although it had been determined that the production budget would be larger than the one for Skyfall, the movie has gone overbudget using more than $300 million for production.[15] In order to decrease their budget Sony and MGM accepted a deal proposed by Mexico in which Mexican officials gave $20 million in tax incentives in exchange for changes to be made to the scrip that portray a positive image of the country. [16] Fortunately, for both MGM and Sony it is much likely that Spectre’s total gross will be higher than the last movie predictions even say that they will  breakeven on the first weekend with a approximate domestic gross of $365 million. [17]

The movie is set to come out in November 2015, if interested in the synopsis click here or watch the trailer below.

Creed.2015.teaserposter

-[20] “Creed” movie poster.

The last movie MGM will be releasing in 2015 is Creed a spinoff of the Rocky movies. In the film Rocky Balboa (Sylvester Stallone) becomes the trainer and mentor of Apollo Creed’s grandson, Adonis Johnson (Michael B. Jordan). The movie directed by Ryan Coogler is set to come out November 25 of this year. [19]

 

 FUTURE

There are many thing coming in the future for MGM Motion Pictures. MGM studios bought the rights to Robert C. O’Brien’s children’s book Mrs. Frisby & The Rats of Nimh. With Ice Age 5 writer, Michael Berg, working on the script, the story is currently being developed into a live action/animated hybrid to be shown on the big screen. The release date is yet to be announced since the rights where just bought and the movie is still in the process of development, but sources say that the company has plans to turn the series of books into a franchise. [21]

Another project MGM has taken on is the production of the horror film The Belco Experiment. James Gunn, the director of Guardians of the Galaxy, wrote the script several years ago and made a the deal with the head of MGM Motion Picture, Jonathan Glickman. The movie is set to start production in June in Colombia with Peter Safran as co-producer and Greg McLean as director. [22]

OVERVIEW

Although, MGM Motion Pictures had some ups and downs in the last few years, especially in 2010 when they had to filed for bankruptcy, the company has come a long way and is still standing strong.[23] Their 2015 releases and future projects show great potential for success.

SOURCES

[1]“Leo the Lion (MGM).” Moviepedia. wikia, n.d. Web. April 17, 2015

[2] “Metro-Goldwyn-Mayer, Inc. (MGM): American Movie Company.” Encyclopædia Britanica. Encyclopædia Britannica, Inc., August 29, 2013. Web. April 17, 2015.

[3] “Corporate.” Metro Goldwyn Mayer. MGM, 2015. Web. April 2016.

[4] Metro Goldwyn Mayer. MGM Holdings Inc. Delaware: Metro Goldwyn Mayer, 2014. Print

[5] “Skyfall.” Box Office Mojo. IMDb, April 17, 2015. Web. April 17, 2015.

[6] “The Hobbit: The Battle of the Five Armies.” Box Office Mojo. IMDb, April 17, 2015. Web. April 17, 2015.

[7] “Hot Tub Machine 2.” Box Office Mojo. IMDb, April 17, 2015. Web. April 17, 2015.

[8] “Hot Pursuit: Armed and Sort of Dangerous.” hotpursuitmovie.com. Warner Bros. Ent., 2015. Web. April 16, 2015.

[9] Madden, Sidney. “Reese Witherspoon and Sofia Vergara are a comedy dream team in ‘Hot Pursuit’.” People’s Choice. One Three Digital, February 13, 2015. Web. April 16, 2015.

[10] “Hot Pursuit.” Metro Goldwyn Mayer. MGM, 2015. Web. April 2016.

[11] “Poltergeist.” Metro Goldwyn Mayer. MGM, 2015. Web. April 2016.

[12] “2015 Box Office Predictions.” IMDb. amazon.com, 2014. Web. April 17, 2015.

[13]“Max.” Metro Goldwyn Mayer. MGM, 2015. Web. April 2016.

[14] “Skyfall.” Box Office Mojo. IMDb, April 17, 2015. Web. April 17, 2015.

[15] Agar, Chris. “ ‘Spectre’ Is Over Budget at $300+ Million; Script Leaks.” Screen Rant. Valnet Inc., 2015. Web. April 16, 2015.

[16] “Mexican officials paid Sony and MGM $20million to rewrite new James Bond film ‘Spectre’ to make their country look good.” DailyMail.com. Associated Newspaper Ltd., March 17, 2015. Web. April 17, 2015.

[17] “2015 Box Office Predictions.” IMDb. amazon.com, 2014. Web. April 17, 2015.

[18] “Spectre.” Metro Goldwyn Mayer. MGM, 2015. Web. April 2016.

[19] “Creed.” comingsoon.net., Craveoline Media, LLC., 2015. Web. April 17, 2015.

[20] “Apollo Creed Movie Poster.” DeviantArt. DeviantArt, 2015. Web. April 16, 2015.

[21] Harris, Rob. “MGM To Adapt Classic Children’s Book, Mrs. Frisby & The Rats of Nimh With Ice Age Writer.” MoviePilot. Moviepilot Inc., March 10, 2015. Web. April 16, 2015.

[22] McMilan, Graeme. “James Gunn Unveils Film Project ‘The Belco Experiment’.” The Hollywood Reporter. The Hollywood Reporter, March 31, 2015. Web. April 16, 2015.

[23] “MGM Files for Bankruptcy Protection.” DealBook. The New York Times Company, November 3, 2010. Web. April 16, 2015.

[24] Lafferty, Jennifer. “Military Dog Drama ‘Max’ Comes to Theaters in January.” Stack Gamer. Yardbarker part of FOX Sports Digital, October 27, 2014. Web. April 16, 2015.

[25]  “Spectre Official Teaser Trailer #1 (2015) – Daniel Craig Movie HD.” YouTube. YouTube, LLC, March 27, 2015. Web. April 17, 2015.

[26] “MGM 90th Trailer.” YouTube. YouTube, LLC, January 22, 2014. Web. April 17, 2015.

Universal Pictures

Posted on by 
by SARAH GRABMAN

Universal Studios Inc. (Universal Pictures) is a major motion picture studio under NBCUniversal owned by Comcast that produces and distributes films for theatrical release and produces, acquires, and distributes direct-to-home video titles, classic titles, and consumer products.[1]

Universal Pictures has found a lucrative home in the franchise model which has contributed to some of the top grossing films in American history including Jurassic Park, Jaws, The Fast & Furious, and Despicable Me.

Universal Pictures also owns many subsidiaries including Universal Studios Home Entertainment, Focus Features, Working Title Films, Illumination Entertainment, Universal Animation Studios, and is part of a joint venture with United International Pictures.

P R O M I N E N T  P E O P L E

Donna Langley

Ronald Meyer                           Donna Langley

Chairman and COO                  Chairman

H I S T O R Y

Universal Pictures was founded by the German-born “Father of the Hollywood Star System”, Carl Laemmle, in 1912 as a merger of smaller motion picture companies. [2] Universal Pictures became the model of the vertically integrated studio system in control of the entire filmmaking process from production, distribution, and exhibition. Universal Pictures was the largest studio in Hollywood for approximately a decade after its inception and has remained one of the most influential and prominent film studios in the world.

The Universal City Studios were opened to the public in March 1915, and made the filmmaking process suitable for tourism. They continue to function as active studios and are open for studio tours through the Universal Studios Theme Parks.

F I N A N C I A L S

Universal Pictures Inc. is privately owned company and does not release financial information to the public. However, as part of the “Big Six” film studios, its top competitors include Fox Filmed Entertainment, Paramount Pictures Corporation, and Sony Pictures Entertainment Inc.

2015 has been an incredibly successful year with blockbusters including Fifty Shades of Grey and  Furious 7. Universal Pictures International has achieved the $1 billion worldwide box office milestone for the ninth consecutive year in record time.[3] 

M O N E Y  A N D  T R A G E D Y || F U R I O U S  7

Furious 7, directed by James Wan and featuring a superstar cast including Vin Diesel, Paul Walker, and Dwayne “The Rock” Johnson, has made over $810 million in the worldwide box office so far [4]. It is estimated to reach at least $1.2 billion, proving to be one of top-grossing films ever made. It set the opening day record in China making $68.8 million and is the highest grossing film in the franchise.[5]

The emergence of locations with cheaper services and tax incentives are threatening the tradition of exclusive production in soundstages and studios in Hollywood. The majority of Furious 7 was filmed in Atlanta, Georgia and a few scenes were shot in Abu Dhabi and Colorado. The production of Furious 7 created 7,500 jobs and $47 million for the local Georgia state economy, contributing to the flourishing film and television industry. A “pro-business environment with competitive incentives” has made Georgia an attractive location for film production. [6]

Paul Walker, a key player of the Fast & Furious films, unexpectedly died in a car accident over Thanksgiving Break of 2013. Production was put on hold for nine months and eventually was able to resume and be completed through story rewrites, CGI, and his brothers acting as stand-ins. The untimely death of one of most prominent figures of the Fast & Furious franchise ultimately contributed to the widespread success of the film in the box office. Furious 7 became more than a blockbuster new edition of a franchise and added a sentimental and emotional arc that resonated with viewers. This is not to say that Paul Walker’s death was exploited by Universal for monetary gains, but was rather used to pay tribute and respect the work of the entire Fast & Furious franchise. [7]

F I F T Y  S H A D E S  O F  S U C C E S S 

Fifty Shades of Grey is an erotic film released on February 15, 2015 adapted from a bestselling novel of the same name by E.L. James. Fifty Shades was produced by Michael De Luca, directed by Sam Taylor-Johnson and starred Dakota Johnson and Jamie Dornan. Universal secured the rights to the bestselling trilogy over Warner Bros, Sony, Paramount, and Mark Wahlberg’s bids. NBCUniversal Chairman and COO, Ron Meyer, visited Newhouse and said that Universal would not have produced the film had it not been based on a bestseller. There was already “a built in audience” for the film and they made it true to the book in hopes that “five women together would see the movie” [8]. The decision to produce and release the film proved to be success. Fifty Shades made $165.9 million in the domestic box office and a solid $402 million in the foreign box office [9].

Producer Michael De Luca left his position as president of production at Sony’s Columbia Pictures to produce for Universal Pictures. He is responsible for producing the final two Fifty Shades movies which could earn him a hefty $20 million for the entire franchise. He has produced past hits including The Social Network, Moneyball, Captain Phillips, and 21 and is a highly beneficial addition to the studio. [10]

P R O J E C T I O N S

Ron Meyer attributed Universal’s diverse array of franchises to necessity. Since Universal does not own typical franchises like DC or Marvel Comics, they needed to find another source of steady income to keep the studio running. A studio’s main goal is to create hits and Universal has found success in the creation of franchises including The Fast & Furious and now the Fifty Shades trilogy [8]. The future of Universal Pictures is bright. Coming off a highly successful year of releases, Universal will continue to use the momentum that accompanies its many franchises.

On the release summer release docket are franchise continuations including Pitch Perfect 2, Jurassic World, Ted 2, and Minions. Universal is also releasing Trainwreck featuring Amy Schumer and Bill Hader and Straight Outta Compton featuring Ice Cube and Dr. Dre this summer. [11]

S O U R C E S

[1] Universal Pictures | NBCUniversal Careers. Retrieved April 16, 2015, from http://www.nbcunicareers.com/our-businesses/universal-pictures

[2] Carl Laemmle. (2015). In Encyclopædia Britannica. Retrieved from http://www.britannica.com/EBchecked/topic/327652/Carl-Laemmle

[3] UPI crosses $1bn in record time. Retrieved April 16, 2015, from http://www.screendaily.com/box-office/upi-crosses-1bn-in-record-time/5086232.article

[4] Furious 7 (2015) – Box Office Mojo. Retrieved April 17, 2015, from http://www.boxofficemojo.com/movies/?id=fast7.htm

[5] Weekend Report: ‘Furious 7’ Repeats, Sets Opening Day Record in China. Retrieved April 16, 2015, from http://www.boxofficemojo.com/news/?id=4055&p=.htm

[6] UNIVERSAL’S “FURIOUS 7” FILMED IN GEORGIA AND MADE A HUGE ECONOMIC IMPACT. Retrieved April 16, 2015, from http://www.mpaa.org/furious7/#.VS_0WBPF-Hs

[7] How Paul Walker’s Death Turned ‘Furious 7’ Into A Blockbuster. Retrieved April 17, 2015, from http://www.forbes.com/sites/scottmendelson/2015/04/09/how-paul-walker-helped-turn-furious-7-into-a-blockbuster/

[8] (2015, March 5). Ron Meyer. Lecture conducted from S. I. Newhouse School of Public Communications.

[9] Fifty Shades of Grey (2015) – Box Office Mojo. Retrieved April 16, 2015, from http://www.boxofficemojo.com/movies/?id=fiftyshadesofgrey.htm

[10 ] Michael De Luca Finalizes First-Look at Universal, Overseeing ‘Fifty Shades’ (2015, April 10). Retrieved April 16, 2015, from http://variety.com/2015/film/news/michael-de-luca-universal-fifty-shades-of-grey-1201470336/

[11] Retrieved April 16, 2015, from http://www.universalpictures.com/

Weinstein Company (film only)

Link

by ADAM WIVIOTT

The Weinstein Company was launched by Harvey and Bob Weinstein, the founders of Miramax Films in 1979, in 2005 and encompasses Dimension Films, which was founded by Bob Weinstein in 1993. [1]  The Weinstein Company is known for its critically acclaimed and academy award worthy dramas including The Imitation Game, The Artist, The King’s Speech, and Django Unchained.  The Weinstein Company is also known for some of its television programs such as Project Runway and all of its subsidiaries. [2]

KEY EXECUTIVES

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Harvey Weinstein: Co-Chairman

imgres-1

Bob Weinstein: Co-Chairman

timthumb

David Glasser: Chief Operating Officer

 FINANCE

The Weinstein Company is an independent film company and ranks Number 7 on the Studio Market Share with 5.6%. [3] It has gone up a rank since last year, in which it was Number 8.  With the releases of Paddington , Woman in Gold , and Eva this year, The Weinstein Company has grossed around $85 Million , domestically, with Paddington bringing in an estimated $75 Million to date.  The Weinstein Company is also experiencing small revenue increases through The Imitation Game and Big Eyes, which are still playing in select theaters across the country. [4]

In Theaters Spring 2015:

PADDINGTON

imgres

Paddington is the story of a young Peruvian bear who travels to London in search of a home

The Weinstein Company started the year of strong with the release of Paddington in January.  Paddington is the story of a young Peruvian bear  who travels to London in search of a home. Finding himself lost and alone at Paddington Station, he meets the kindly Brown family, who offer him a temporary haven. [5] Paddington has grossed around $75 Million domestically and around $182 Million internationally, bringing in a total of $257 Million. [6] The success of Paddington has allowed room for the studio to release some of its more dramatic films that might not bring in as much revenue, but could potentially be considered for awards within the coming year.

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EVA

imgres-1Following the successful release of Paddington is the small foreign film Eva.  Eva tells the story of a shy genius who is employed by his former university to design robot software. [7] Eva was released on March 13, and to date has only grossed $16,000 domestically.  Being a foreign film, Eva has only shown in 50 theaters domestically, but has much more success internationally, being distributed in France, Russia, Spain, and Turkey and grossing over $2 million dollars. [8] With the minuscule success of Eva, the Weinstein Company is hoping to bring more box office revenue with the upcoming Woman in Gold.

WOMAN IN GOLD

MV5BMTExMTUxNDQ5MjdeQTJeQWpwZ15BbWU4MDk4NTgxMzQx._V1_SX214_AL_Following the release of Eva is the Woman in Gold, which premiered on April 1st. This drama tells the story of Maria Altmann, Helen Mirren, an octogenarian Jewish refugee, who takes on the Austrian government to recover artwork she believes rightfully belongs to her family. [9] The film also stars big name actor Ryan Reynolds.  To date the film has only grossed a mere $10 million domestically and $1 million internationally.  However, the Woman in Gold is only in its second week of distribution, showing in 1504 theaters, so hopefully in the next couple weeks we should see a rise in distribution both domestically and internationally. [10] As of now it is only showing in three countries internationally: New Zealand, Turkey, and the United Kingdom.

[21] 

 Future Releases: Summer 2015

SOUTHPAW

images

Southpaw tells the story of Billy Hope, a boxer at the height of his game who’s life falls apart after the death of his wife

Coming July, 24, Southpaw tells the story of Billy Hope (Jake Gyllenhaal), a boxer in the height of his fame who’s life fall apart after his wife (Rachel McAdams) is murdered. [11] Directed by Antoine Fuqua (Training Day) and written by Kurt Sutter (one of the creators of Sons of Anarchy) and Richard Wenk  (The Equalizer), Southpaw is looking to be one of the next great boxing dramas and could potentially create some Oscar or award worthy buzz. [12] This movie could bring in some good box office revenue for the Weinstein Company this summer.

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[20]

UNDERDOGS

imgres-4Underdogs (aka The Unbeatables), starring Nicholas Hoult and Katie Holmes, [13] tells the story of a young man named Amadeo who sets off on an unexpected adventure with the players of his beloved Foosball game and eventually comes faces to face with his terrible rival Guosso. The film has been circulating the foreign markets since 2013, bringing in around $25 million in box office revenue over the past couple years, and is expected to hit theaters domestically in August of this summer. [14]

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 Business Ventures

GOLD

"Interstellar" - European Premiere - Red Carpet Arrivals

The Weinstein Company has acquired U.S. rights to Gold, the Stephen Gaghan-directed film starring Matthew McConaughey and Edgar Ramirez. [15] The deal is in the vicinity of a $15 million minimum guarantee and a P&A guarantee north of $20 million to properly market a release on at least 2500 screens . CAA brokered the deal in an auction and Black Bear Picture’s Teddy Schwarzman is backing the film. [16] 

HAPPY PEOPLE EAT AND DRINK COFFEE

happy-people-read-and-drink-coffeeIn addition to this, The Weinstein Company has acquired the film and publishing rights to French Author Agnes Martin Lugand’s debut Novel Happy People Read and Drink Coffee. [17] The film adaptation will be produced by Maeva Gatineau and Sebastien Fechner of Source Films, who brought the material to Weinstein, with Negeen Yazdi and Julie Oh overseeing for TWC. [18] The book centers on Diane, who is still mired in grief after losing her husband and daughter in a car accident the year before, and her cafe is no longer a sanctuary. Searching for a way to remain close to her husband, she takes a trip to a place he always wanted to visit — Ireland. The deal for the project was negotiated by Sarah Sobel, EVP Business & Legal Affairs, for TWC with attorney David Miercourt on behalf of Source.

SHE’S ALL THAT

The Weinstein Company and Miramax films are in talks of remaking the 1999 film She’s All That.  The story is about a hot shot high school student (Prinze Jr.) who takes a bet from his jock friends to turn an unpopular, somewhat geeky wallflower (Cook) into prom queen.  As of now, Kenny Leon is signed on to direct, which doesn’t inspire much confidence since he directed Lifetime’s 2012 remake of Steel Magnolia. Drawing from Steel magnolia, there is much speculation that this remake of She’s All That will feature a predominantly black cast, which will be a refreshing twist on the iconic romantic comedy genre. [19]

[1] The Weinstein Company, weinsteinco.com/about-us 4/15/15

[2] Weinstein Company Films, boxofficemojo.com 4/15/15

[3] Studio Market Share, boxofficemojo.com/studio/ 4/15/15

[4] Box Office Revenue, deadline.com/weinstein/revenue 4/15/15

[5] Paddington Movie Review, rottentomatoes.com/m/paddington 4/15/15

[6] Paddington Domestic and International Revenue, boxofficemojo.com 4/15/15

[7] Eva, imdb.com 4/15/15

[8] Eva International Box office, hollywoodreporter.com 4/15/15

[9] Woman in Gold, telegraph.co.uk/film/woman-in-gold 4/15/15

[10] Woman in Gold Box Office, boxofficemojo.com 4/15/15

[11] Southpaw, imdb.com 4/15/15

[12] Southpaw Cast and Crew, comingsoon.net/movie/southpaw 4/15/15

[13] Underdogs Actors and Actresses, boxofficemojo.com 4/15/15

[14] International Revenue, boxofficemojo.com 4/15/15

[15] Matthew McConaughey, deadline.com/tag/matthew-mcconaughey 4/16/15

[16] Rights to Gold, deadline.com 4/16/15

[17] Happy People Read and Drink Books, goodreads.com/book/ 4/16/15

[18] Rights to HPRDB, deadline.com/2015/04/happypeoplereadanddrinkcoffee 4/16/15

[19] Remake of She’s All That, firstshowing.net 4/16/15

[20] Southpaw Official Trailer, youtube.com 4/17/15

[21] Woman in Gold Official Trailer, youtube.com 4/17/15

[22] Weinstein Company Logo, images.google.com 4/17/15