🎬 Agreement on the Horizon? 🤔

👋 Good morning! Welcome aboard the Dailies.

We're excited to have you, whether you're a longtime subscriber or a fresh face. Twice a week, on Mondays and Thursdays, we'll be your trusted guide, taking you on a journey through the world of Hollywood, and bringing you the juiciest industry scoops right to your inbox.

🎞 Here’s what’s on the reel today:

• Agreement on the Horizon?

• HPA’s Open Letter

• Disney Takes Aim at Password Sharing

• Emmys Get a New Date

• CAA Plans Layoffs

• Academy Allows Films to Opt Out of Inclusion Report

• Disney’s Financial Magic

• Last Looks 👀

• Intermission brought to you by ShotDeck.

• Video Village

• Martini Shot 🍸

But first, it’s Monday, so let’s take a look at what happened at the box office this past weekend!

LAST WEEKEND’S
🎟️ BOX OFFICE BREAKDOWN 🎟️

👸🏼 Barbie: Still reigning at #1 for the fourth week, Barbie made $33.7M this weekend. 🎉 Globally, it's now a billion-dollar sensation with $1.18B. It now stands as the #18 biggest movie of all time.

💥 Oppenheimer: The historical war drama made $18.8M. Aiming for some serious records, it's already Nolan's biggest non-Batman film. It now stands as the #9 biggest R-rated movie of all time domestically! 🧨

🐢 Teenage Mutant Ninja Turtles: Shell-shocked the box office with $15.7M, rising to third place. 🐢 Globally, it's at $94.6M, likely to match 2016's 'Out of the Shadows.'

🦈 Meg 2: The Trench: This shark thriller sank to fourth place, making $12.7M this weekend. Globally at $256.9M, its bite is smaller than the original.

🧛 The Last Voyage of the Demeter: Opening in fifth place with a mere $6.5M, this Dracula-themed horror thriller is sailing through some choppy waters. 😬

Agreement on the Horizon?
Why Next Week is BIG for Hollywood’s Future!

The WGA is back at the negotiating table with major studios and streamers. Led by Carol Lombardini, president of the AMPTP, and WGA West's Ellen Stutzman, the meeting last Friday marked the first formal return to negotiations since the strike began on May 2.

The WGA received a new proposal package from the AMPTP, and the WGA sent out an email (excerpt below 👇) to its members, letting them know that they're taking a good hard look at the offer and will get back to the studios this week.

It appears that both sides want to make things work, with Lombardini even saying, "People just want to get back to work." The WGA agreed, but hey, they want some conditions met first. Fair enough, right?

Unfortunately, the AMPTP hasn't shown any signs of budging on a few of the WGA's big demands, like minimum staff sizes for TV writers' rooms and streaming residuals based on viewership. The WGA also wants some new rules in their contract, like respecting other unions' picket lines and ensuring health coverage isn't messed up by the strike. It's still a bit of a stand-off, but here's hoping they can find some middle ground. 🤝

HPA’S Open Letter

Many are anxious to see how the WGA responds this week, and as the strike moves past the 100-day mark, it's starting to leave a mark. Fall TV schedules are looking a bit sparse, and even the Emmy Awards have been postponed.

Meanwhile, the ongoing work stoppage has had a significant impact on the California economy, likely resulting in an estimated $3B in losses so far.

Among those concerned is the Hollywood Professional Association (HPA) who have penned an open letter to sound the alarms. 🚨

The HPA is involved in postproduction, visual effects, and production support, and they're getting hit hard by the writers and actors strike. How hard? Well, HPA says the situation is “already real and dire.”

Here are some of the points included in their letter:

• The media creation supply chain is in danger. The damage to these companies and their employees is getting worse by the day.

• These organizations are cutting staff and services, and some might even close their doors.

• Thousands have already lost jobs, and some folks are packing up and leaving the industry altogether.

• Without a solution soon, bouncing back is going to be a massive challenge.

The HPA is urging everyone to get back to the table and find common ground. They love and support the industry, and they're ready to build a strong future. But the clock's ticking, and the situation's grim.

We'll keep our eyes peeled for updates. Here's hoping for a Hollywood ending to this drama! 🤞

Disney Takes Aim at Password Sharing 🏰 Disney is putting its foot down on password sharing. Bob Iger, the CEO of Disney, has publicly stated that the company is now prioritizing the conversion of password-borrowing users into paying customers. 💰 This move follows Netflix's successful campaign to reduce illicit account sharing. New rules are coming that will clearly define sharing policies for Disney's streaming platforms, including Disney+, ESPN+, and Hulu, so it might be time to reconsider how you manage your account. 📝 In addition to these changes, prices are set to increase for premium tiers of these services, reflecting a broad shift in Disney's digital strategy.

Emmys' Big Date Change 🏆🎥 The 75th Emmys got rescheduled from Sept. 18, 2023, to Jan. 15, 2024, and it's causing quite the stir! 🗓️ At first glance, you might think it's no biggie since final voting dates remain the same. But here's the plot twist – the Emmys will take place during the Oscar nomination voting window! 🏆 That means it could be a hotspot for Oscar contenders to make a splash. Fox, broadcasting this year's Emmys, might just rope in big movie stars 🌟 to present, and many of them are already Emmy-nominated (like Jeremy Allen White and Jessica Chastain!). The Critics Choice Awards could see more celeb appearances too. Talk about confusion - it'll be tricky keeping track of which TV season is being honored where! 📺 Plus, other awards are in flux, like the Golden Globes (still looking for a broadcasting partner) and the SAG Awards (moving to Netflix!). What a whirlwind!

CAA Plans Layoffs Amid Hollywood Strikes and Potential Majority Stake Sale 💼 Creative Artists Agency (CAA), one of Hollywood's top talent firms, is preparing for layoffs, with around 60 jobs set to be cut across multiple departments. These cuts have been anticipated since CAA's 2022 acquisition of ICM Partners and are not solely a result of the current union strikes. That said, the entire talent representation industry is feeling the pinch, with smaller boutique agencies that lack diversification particularly vulnerable to prolonged strikes. CAA's situation is further complicated by ongoing talks to sell a majority stake to billionaire Francois-Henri Pinault, who may soon take the company from current majority stakeholder TPG. 🏢 The developments at CAA underscore the challenges and changes taking place in Hollywood's complex and fast-evolving landscape.

Academy Allows Films to Opt Out of Inclusion Report 🎬🏆 In an interesting twist for this year's Academy Awards, films can now choose to opt out of the inclusion report requirement if they're not vying for the Best Picture category. 🎥 This policy update modifies the Academy's Representation and Inclusion Standards, allowing dozens or potentially hundreds of films to avoid reporting on gender, race, and disability data. Before this change, all films seeking Oscar consideration had to provide this detailed information. Now, a simple opt-in or opt-out option has been introduced, eliminating the need for a RAISE form if a film opts out. 📑 While this move may reduce administrative burdens, it might also affect the number of Best Picture contenders. On another note, British films meeting the British Film Institute's diversity standards will now automatically comply with the Hollywood Academy's requirements. 🇬🇧 This policy change seems to represent a shift towards flexibility and inclusivity, while maintaining the Academy's commitment to representation in the industry. 🎭

Disney’s Financial Magic: Streaming Losses Cut and Cost-Savings Goals Soar 🏰💸 Disney's CEO Bob Iger has turned the ship around, with some big numbers to prove it! In the latest quarterly report, Disney has not only exceeded its cost-saving goal of $5.5 billion, but has also shrunk streaming losses to $512 million, down from $1.1 billion a year ago. 📉 Thanks to cuts of around 7,000 jobs and other streamlining moves, the House of Mouse is looking more financially fit. 💪 A new ESPN partnership with Penn Entertainment and price hikes for ad-free tiers of Disney+ and Hulu are some of the other strategic plays. And hey, the parks are still a bright spot, with revenues rising 13 percent to $8.3 billion. 🎢 On the flip side, Disney's linear TV business, including ABC and ESPN, is slipping, with revenues falling 7 percent to $6.7 billion. 📺

• Lionsgate quarterly earnings come in higher than expected. (more)

• Starz and Lionsgate separation delayed to Q1 2024 amid uncertainty caused by strikes. (more)

• Michael Mann’s ‘Ferrari’ secures SAG-AFTRA interim agreement. It remains unclear whether Adam Driver and Penélope Cruz will promote the film at the Venice Film Festival. (more)

• Kuwait bans ‘Barbie’ over public ethics concern. (more)

• Greta Gerwig's 'Barbie' becomes the top-grossing film ever at the domestic box office for a female director. (more)

• FC Barcelona is planning a $1 billion SPAC merger for its content creation unit, Barca Media, to boost revenue and tackle financial troubles. (more)

• The California Labor Federation's Chief, Lorena Gonzalez, calls it "shameful" that California doesn't offer unemployment insurance to striking workers. (more)

• Producers Guild presidents Stephanie Allain and Donald De Lin joined the picket line this week to show support for SAG. (more)

• Motion Picture Sound Editors waives membership dues amid strike. (more)

• In a move echoing recent labor disputes in Hollywood, the Directors Guild of Korea is advocating for substantial reforms in their nation's entertainment industry. (more)

• Alec Baldwin and Stephen Dorff to star in indie feature ‘Cold Deck.’ (more)

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