Media and entertainment industry

Hits for sale: Notable artists who have had their music catalogs sell for big money

4Apr

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Entertainment

Hits for sale: Notable artists who have had their music catalogs sell for big money

On Thursday, it was announced that American rock band Kiss had sold their catalog, brand name and IP to Swedish company Pophouse Entertainment Group in a deal estimated to be over $300 million. They're the latest to participate in an ongoing trend of blockbuster acts and their rights holders inking deals to sell their back-catalogs, often for impressive sums.It's big business — especially considering that two-thirds of all music streamed is made up of catalog music, and streaming accounts for 84% of all music industry revenue. Not every artist disclosed the amounts involved but some deals have been estimated at as much as half a billion dollars. (A figure that could be eclipsed when the Michael Jackson estate sells the singer's catalog.)Let's take a look at some notable cases.The singer k...

Disney shareholders back CEO Iger, rebuff activists who wanted to shake up the company

4Apr

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Entertainment

Disney shareholders back CEO Iger, rebuff activists who wanted to shake up the company

SAN FRANCISCO -- Disney shareholders have rallied behind longtime CEO Robert Iger, voting Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney Chief Financial Officer Jay Rasulo, who had sought seats on the company’s board.The company had recommended a slate of directors that did not include Peltz or Rasulo.The dissident shareholders had said in a preliminary proxy filing that they wanted to complete a “successful CEO transition" at Disney and align management pay with performance. Despite their loss, they declared a victory of sorts following the vote, noting that since Peltz’s company, Trian Partners, started pushing Disney in late 2023, the entertainment giant has engaged in a flurry of activity, adding new directors and announcing new operating initiatives an...

Actors vote to approve deal that ended strike, bringing relief to union leaders and Hollywood

6Dec

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Entertainment

Actors vote to approve deal that ended strike, bringing relief to union leaders and Hollywood

LOS ANGELES -- Hollywood’s actors have voted to ratify the deal with studios that ended their strike after nearly four months, leaders announced Tuesday. The approval of the three-year contract from the members of the Screen Actors Guild-American Federation of Television and Radio Artists was no certainty, with some prominent members voicing dissent on the deal for which the union leaders bargained.The 78% yes result in voting that began Nov. 13 and ended Tuesday was a far cry from the near-unanimous approval and widespread enthusiasm members of the writers guild gave to the deal that ended their strike in September.But the outcome is a major relief for SAG-AFTRA leaders and an entertainment industry that is attempting to return to normal after months of labor strife. And it brings a fina...

Hollywood’s labor stoppage is over, but a painful industry-wide transition isn’t

10Nov

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Entertainment

Hollywood’s labor stoppage is over, but a painful industry-wide transition isn’t

NEW YORK -- Hollywood’s months of labor unrest are coming to an end, but the post-strike landscape that awaits actors and writers may be far from happy-ever-after.The film and television industry could rightly celebrate the conclusion Wednesday of a bruising, protracted work stoppage that began in May when the Writers Guild hit the picket lines and gathered more force when Screen Actors Guild-American Federation of Television and Radio Artists members walked out in mid-July.The strikes were historic in their length and cost, causing an estimated $6 billion in economic loss and leaving hundreds of thousands out of work. As Hollywood on Thursday began rushing back to production and stars again hit red carpets, many were surely still nursing wounds from a bitter feud with the studios, even a...

Video game adaptation ‘Five Nights at Freddy’s’ notches $130 million global debut

29Oct

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Entertainment

Video game adaptation ‘Five Nights at Freddy’s’ notches $130 million global debut

It hardly mattered that “Five Nights at Freddy’s” was released simultaneously in theaters and on streaming this weekend. Fans flocked to movie theaters across the country to see the scary video game adaptation on the big screen, which made $78 million to top the North American box office, according to studio estimates Sunday.Universal Pictures bet on a day-and-date release on the weekend before Halloween, sending it to 3,675 theaters in the U.S. and Canada, while also making it available for Peacock subscribers, the subscription streaming service owned by NBCUniversal. The movie also opened in 64 markets internationally, where it’s expected to gross $52.6 million, giving the film a $130.6 million global launch – the biggest of any horror released this year.“It was an extraordinary debut,”...

Netflix’s password-sharing crackdown reels in subscribers as it raises prices for its premium plan

18Oct

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Entertainment

Netflix’s password-sharing crackdown reels in subscribers as it raises prices for its premium plan

SAN FRANCISCO -- Netflix on Wednesday disclosed summertime subscriber gains that surpassed industry analysts’ projections, signaling the video streaming service’s crackdown on password sharing is converting former freeloaders into paying customers.In an effort to bring in even more revenue, Netflix also announced it's raising the price for its most expensive streaming service by $2 to $23 per month in the U.S. — a 10% increase — and its lowest-priced, ad-free streaming plan to $12 — another $2 bump. The $15.50 per month price for Netflix's most popular streaming option in the U.S. will remain unchanged, as will a $7 monthly plan that includes intermittent commercials.It also raised its prices for subscribers in the U.K. and France.The company added nearly 8.8 million worldwide subscribers...

Accusers in Japanese boy band producer’s sex scandal say they hope for apology, compensation

4Sep

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Entertainment

Accusers in Japanese boy band producer’s sex scandal say they hope for apology, compensation

TOKYO -- A group of men who say they were sexually abused by a Japanese boy band producer expressed hope Monday that the company will provide financial compensation and introduce measures to prevent a recurrence. They say producer Johnny Kitagawa sexually preyed on young dancers and singers for decades, having them stay at his luxury home, handing them cash and leveraging promises of potential fame. The company, Johnny & Associates, is a powerful force in Japan's entertainment industry.The men said at a news conference Monday that they have been ignored for decades by the company, Japanese society and mainstream media.Company Chief Executive Julie Keiko Fujishima released a brief statement on YouTube in May about the accusations but has not appeared before reporters. The company has s...

Oprah Winfrey and Dwayne Johnson launch fund with $10 million for displaced Maui residents

1Sep

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Entertainment

Oprah Winfrey and Dwayne Johnson launch fund with $10 million for displaced Maui residents

Oprah Winfrey and Dwayne Johnson have committed $10 million to make direct payments to people on Maui who are unable to return to their homes because of the wildfires, through a new fund they announced Thursday.The People's Fund of Maui will give $1,200 a month to adults who are not able to return to their primary residences because of the recent wildfires, including people who owned and rented their homes, according to the fund's website. The fund will also seek donations to extend the length of time it can provide the support.“How do we help?" the “Young Rock” star said he and Winfrey asked each other during the wildfires, saying in a video released along with the announcement that they grappled with how to best direct their efforts. “You want to take care of the greatest need of the pe...