🎬 He's Out

👋 Good morning! Netflix's #1 English-language show, ‘Baby Reindeer,’ has taken the world by storm, but creator Richard Gadd finds himself in a predicament: In a twisted case of life imitating art, Gadd is pleading with fans to stop stalking his real-life stalkers depicted in the series. Irony aside, overzealous armchair detectives are now feverishly attempting to uncover the true identities of Gadd's renamed abusers. It seems that sometimes, the true crime is the fandom we created along the way.

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🎞 Here’s what’s on the reel today:

• Netflix Redefining Success

• Bakish Bows Out

• IATSE Strikes Tentative Deals

• Last Looks: 👀 Bite-sized scoops on developing stories/projects

• Video Village: The latest trailers

• Martini Shot 🍸

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

LAST WEEKEND’S
🎟️ BOX OFFICE BREAKDOWN 🎟️

1. 🎾 Challengers: Amazon MGM's romantic sports drama, starring Zendaya, debuted at $15M domestically and $9M internationally, hitting a global total of $25M.

2. 🎤 Unsung Hero: Lionsgate's faith-based film sang to the tune of $7.75M on 2,832 screens, becoming this year's top opener in its genre.

3. 🦍 Godzilla X Kong: The New Empire: Added $7.2M in its fifth week for a thunderous global total of $519M.

4. 🇺🇸 Civil War: Dipped to $7M in its third week, totaling $56M domestically with a 38% drop.

5. 👧 Abigail: Faces a 49% decline, managing $5.25M in its second week

6. 💣 The Ministry of Ungentlemanly Warfare: Suffered a sharp 57% decline, managing $3.86M in its second outing.

7. 🐼 Kung Fu Panda 4: Continues its steady performance, earning $3.55M in its eighth week.

8. 👻 Ghostbusters: Frozen Empire: Chilled at $3.25M, experiencing a 27% decrease in its sixth week.

9. 🌊 Dune: Part Two: Drifted further with $1.98M in its ninth week, approaching a $280M domestic haul.

10. 🎯 Boy Kills World: Debuted with $1.67M, aiming for cult status among niche audiences.

📺 Redefining Success 📊
Why Netflix’s Strategy Isn’t a One-Size-Fits-All

Netflix’s recent decision to stop publicly disclosing its subscriber numbers has stirred considerable discussion within the industry. This move could redefine how streaming services present their success to the world and manage investor expectations. Here's why this strategy might benefit Netflix more than its competitors:

Market Maturity and Saturation: Netflix is one of the earliest entrants into the streaming service market and has a large, stable subscriber base. The company's growth in subscriber numbers has naturally slowed as the market matures. By de-emphasizing subscriber counts, Netflix can shift investor focus to other financial metrics like revenue growth and profitability, which may be more favorable.

Investor Perception: Changing the narrative from subscriber growth to financial health can reduce volatility in its stock price. It helps manage investor expectations better, focusing on long-term revenue and profit rather than short-term subscriber fluctuations.

Diversification of Services: Netflix is diversifying its business model, including the addition of ad-supported tiers and expansions into areas like gaming and merchandise. This diversification can lead to new revenue streams that aren't solely dependent on subscriber numbers. By focusing less on subscriber metrics, Netflix can highlight the success of these other areas.

On the other hand, many of Netflix's competitors are still in earlier stages of their streaming operations or are trying to catch up in terms of subscriber numbers. For them, these numbers are crucial:

Proof of Growth: Competitors like Disney+, HBO Max, and others are under more pressure to demonstrate growth to investors, making subscriber numbers a crucial metric to prove their competitive edge and justify their investment in content and technology. Many of these services operate under larger media conglomerates where the streaming divisions must justify their expenditure and strategic value against other business segments.

Investor Expectations: Companies newer to the streaming market or those seeing fluctuating growth rates rely on subscriber numbers to reassure investors of their potential for scale and market penetration.

Less Diversification: Many of Netflix's competitors do not yet have as diverse a set of revenue streams within their streaming services. Their focus remains more directly tied to increasing subscriber bases to boost revenues.

As the streaming market continues to evolve, it will be interesting to see if and when other major players follow Netflix's lead in redefining success.

🎬🔀 Bakish Bows Out Amid Skydance Merger: Paramount Global is bracing for a rollercoaster of a week. Recall, Shari Redstone, the media heiress who controls Paramount Global has been in talks to sell her stake in the company to David Ellison’s Skydance Media. Amid these hectic sales talks, long-time CEO Bob Bakish is likely stepping down today. In the meantime, a squad of top execs called the "Office of the CEO" will steer the ship temporarily. This week is crucial: Today, Paramount is set to release its Q1 earnings after market close, with a call that Bakish will likely miss, but could introduce some faces from the new leadership team. Tuesday’s a biggie too, with their TV network carriage deal with Charter up for renewal—an agreement Bakish would have typically spearheaded. And come Friday, the exclusive chat window with Skydance Media wraps up, which could open doors for Sony and Apollo to throw their hats in the ring. Plus, Skydance just tossed in a new proposal to stir the pot even more. It’s all eyes on Paramount as they navigate this wild week.

🎬✍️ IATSE Strikes Tentative Deals: After a month of back-and-forths, all 13 IATSE West Coast Locals have inked tentative deals with the AMPTP. Negotiations are often conducted separately for each local because their needs can be distinct, requiring tailored agreements. These are done individually to ensure that specific craft requirements and local concerns are addressed. Now, the real drama unfolds as they dive into negotiations for the Basic Agreement starting today, April 29. This broader discussion is more comprehensive and centralized and will set baseline labor standards for all IATSE members. These talks will address overarching issues like wages, AI implementation, and job security. With the studios now more receptive, these negotiations could potentially redefine how big labor disputes are handled across the entertainment industry moving forward.

Development 🗒️

• Warner Bros. Discovery acquires U.S. rights to ‘Spacey Unmasked,’ a docuseries exploring sexual abuse allegations against Kevin Spacey. (more)

• Nick Jonas' film ‘The Good Half’ has been acquired by Utopia for a theatrical release this summer. (more)

• Neil Gaiman partners with Graphic India to create ‘Cinnamon,’ an English-language animated film based on his short story. (more)

• Keke Palmer and SZA are set to shine in a new buddy comedy from TriStar Pictures, produced by Issa Rae and directed by Lawrence Lamont, marking SZA's acting debut. (more)

• Alexander Payne directs his first documentary about Jeanine Basinger. (more)

✅ Renewed & Canceled ❌

• 'NCIS: Hawai’i’ is cancelled after S3 at CBS. (more)

• BBC and BritBox renew the ‘Death in Paradise’ spin-off, ‘Beyond Paradise,’ for S3. (more)

Business 🤝

• EverWonder Studio appoints Michael Antinoro as president to lead its new live events division, in collaboration with producer Bryan Zuriff. (more)

Other News 🚨

• Sony reshuffles its release calendar, moving ‘Karate Kid’ to May 2025 and positioning ‘Kraven the Hunter’ as the holiday season's sole R-rated film in December 2024. (more)

• CBS Sports and Pluto TV have introduced a Champions League FAST channel. (more)

• Freelance casting assistants in Los Angeles and New York are seeking to unionize with the Teamsters, requesting recognition from Netflix and the AMPTP to secure better wages and benefits. (more)