🎬 Ditching Auteurs for IP

👋 Good morning! Sam Mendes is bringing us “the first bingeable moment in cinema” with his ambitious Beatles project. At CinemaCon, he revealed that all four of his Beatles films will release in theaters during April 2028. Instead of spreading these movies out over months or years like traditional franchises, all four will hit theaters in the same month, allowing fans to experience the complete Beatles story in a condensed timeframe. And no, this isn't one movie split into parts, but four distinct films each telling the band's story from a different member's perspective.

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🎞 Here’s what’s on the reel today:

• Paramount Shops Sheridan

• Max’s Old-school TV Playbook

• WB Ditching Auteurs for IP?

• ‘The Matrix’ Gets Immersive

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

• Video Village: The latest trailers

• Martini Shot 🍸

CLOSEUP
🤝 Paramount’s shopping Sheridan’s crown jewels…

In a move that would be unthinkable just three years ago, Paramount is now actively shopping its most valuable shows—including Taylor Sheridan's hit productions—to streaming rivals like Netflix and Amazon.

According to insiders, Paramount’s licensing team has entered the market with a major package of shows and movies to be sold globally—with some potentially airing on rival platforms quite soon after their Paramount+ debut. This strategy has been blessed by soon-to-be owner David Ellison of Skydance, who hasn't even officially taken control of the company yet but is already getting involved in deals that will help maximize revenue from Paramount's content library after the acquisition is complete.

Why the sudden sharing spirit?

• Subscale streamers can't survive on subscribers alone: Mid-tier platforms like Paramount+, Peacock, and Max lack Netflix's global scale

• High-quality shows cost more than subscriptions can support: While Sheridan's expensive shows ($12-16M per episode) dominate ratings, Paramount+ has fewer subscribers than giants like Netflix—meaning each subscriber must cover a larger portion of production costs

• Wall Street wants profits: Investors are no longer satisfied with subscriber growth alone and want to see positive cash flow and revenue diversification

The new playbook? Debut shows on your own platform first, then quickly license them elsewhere for a cash injection. It's having your cake and eating it too—capturing initial subscriber interest before monetizing through licensing deals.

The Netflix Effect

Beyond immediate cash, Paramount might be eyeing another benefit from licensing to a larger streamer like Netflix: the platform's uncanny ability to supercharge viewership. Look at ‘Suits’—viewers spent more time watching it in just six months on Netflix than during its entire eight-year cable run. Similar viewership explosions happened with movies like ‘Focus’ and ‘Jack Reacher: Never Go Back.’

For mid-tier streamers, this exposure could translate to broader awareness of their brands and franchises—potentially driving viewers back to their platforms for exclusive new seasons or spinoffs.

The bigger picture: The “grow at all costs” mindset is evolving into “grow sustainably with profits.” Content is no longer viewed as a permanent exclusive asset but as a fluid investment that can—and should—generate returns through multiple revenue streams.

Looking ahead… Paramount isn't alone in this pivot. Warner Bros. Discovery has already sent HBO shows to Netflix, NBCUniversal is exploring similar deals, and even Disney has licensed older network content while keeping premium franchises exclusive. As financial pressures intensify, expect to see more licensing deals across the industry.

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WIDESHOT
🎬 Max’s new strategy, WB’s pivot, and ‘The Matrix’…

📺🔄 Max is bringing network TV formulas back to streaming. Their medical drama ‘The Pitt’ is breaking the streaming mold by embracing what platforms once rejected—network-style programming with 15 episodes (vs. streaming's typical 8, which continues to shrink at most platforms), weekly primetime releases, and standalone storylines produced on a modest $4-5M per-episode budget. It’s paying off, too—the show’s ranking among Max’s top three platform debuts ever and gaining viewers every week. Max’s deliberate throwback approach sharply contrasts with competitors—Netflix sticks to its binge model, while Apple and Amazon pursue costly prestige projects. The strategy also aims to address what HBO CEO Casey Bloys calls streaming’s “library crisis”—with fewer shows reaching the 100+ episode mark crucial for binge retention, platforms desperately need their own ‘Grey's Anatomy’ or ‘ER’ equivalents. Who knew the cure for subscriber churn was hiding in 1990s TV programming guides all along?

🎬🔄 Warner Bros. is ditching auteurs for IP. Sources suggest Warner Bros. may be changing direction after initially backing auteur filmmakers for their 2026 slate under studio heads Mike DeLuca and Pam Abdy. As the first few filmmaker-driven projects face box office scrutiny—with films like ‘Mickey 17’ and ‘Alto Knights’ underperforming—CEO David Zaslav reportedly wants to focus exclusively on "big IP" instead of original storytelling. The timing’s awkward—DeLuca and Abdy presented Warner's upcoming slate at CinemaCon last night while rumors swirled about their impending exit. Bloomberg reports suggest Zaslav has begun meeting with potential successors, though nothing is confirmed. It’s a big shift, as even Warner Bros—which had been letting filmmakers run wild compared to other studios—retreats to the perceived safety of established franchises. Mid-budget original films may soon have to file for endangered species protection at the Hollywood box office.

🎬🔮 The Matrix is back—and this time, you're going inside. Warner Bros. and tech company Cosm are teaming up to transform the 1999 classic into a "shared reality" experience launching June 6 in Los Angeles and Dallas. Viewers will watch the film surrounded by an 87-ft LED dome displaying elements from the Matrix universe. Cosm, which has focused on sports events at its venues since last year, is now expanding into Hollywood with this multi-film Warner Bros. partnership. As theaters struggle to regain pre-pandemic attendance levels, this immersive format represents another attempt to offer what home streaming can't—complete immersion that turns viewers into participants rather than observers.

LAST LOOKS
CinemaCon 🎰

• ‘Skillhouse,’ 50 Cent’s influencer-packed horror movie, hits theaters July 11 via Fathom. (more)

• Cinema United CEO Michael O’Leary urged studios at CinemaCon to adopt a minimum 45-day theatrical window to protect box office sustainability. (more)

• Lionsgate unveiled its box office comeback plan at CinemaCon, which includes multiple new ‘John Wick’ films. (more)

• MPA chief Charlie Rivkin told CinemaCon that the group stands with theaters and is pushing for more U.S. film production and incentives. (more)

• Billy Ray is returning to adapt ‘The Hunger Games: Sunrise on the Reaping’ for Lionsgate, with the prequel film set to hit theaters Nov. 20, 2026. (more)

• Ruben Fleischer is set to direct ‘Now You See Me 4,’ while the third film in the franchise has officially been titled ‘Now You See Me: Now You Don’t.’ (more)

• IMAX and AMC are expanding their partnership to upgrade 80 U.S. theaters with IMAX Laser technology, the largest U.S. deal for IMAX since 2018. (more)

• Universal says ‘Wicked’ made $100M on PVOD, defending its strategy of shorter, flexible theatrical windows. (more)

Film Development 🗒️

• Brad Pitt will reprise his ‘Once Upon a Time in Hollywood’ role in a new Netflix film directed by David Fincher, based on a Quentin Tarantino script. (more)

• Zack Snyder will direct ‘Brawler,’ a UFC-backed film about a troubled young fighter chasing redemption and a shot at the championship. (more)

• Kate Hollowell will direct and rewrite ‘Something Murdered’ for Amblin Entertainment, an original project from writer Liz Benham. (more)

• Kendrick Lamar’s comedy with ‘South Park’ creators Trey Parker and Matt Stone has been pushed to a March 2026 release. (more)

TV Development 📺

• Shailene Woodley joins Hulu’s hit political thriller ‘Paradise’ for S2. (more)

• Cristin Milioti will star opposite Elizabeth Olsen in FX’s drama pilot ‘Seven Sisters.’ (more)

• Discovery+ is releasing a docuseries on the legal feud between Blake Lively and Justin Baldoni. (more)

• The NFL will air three games on Christmas Day—two streaming on Netflix, and the third as park of Amazon Prime’s ‘Thursday Night Football.’ (more)

Greenlights, Renewals, & Cancelations ✅ ❌

• ‘The Testaments,’ a sequel series to ‘The Handmaid’s Tale’ has been greenlit at Hulu. (more)

• ‘Dexter: Original Sin’ has been renewed for S2 at Paramount+. (more)

• ‘Wizards Beyond Waverly Place’ is renewed for S2. (more)

Business 🤝

• ITV Studios has acquired a majority stake in ‘The Gentlemen’ producer Moonage Pictures. (more)

• Paul Feig has signed a first-look film deal with Lionsgate following the success of ‘Another Simple Favor.’ (more)

Other News 🚨

• Disney will vacate the historic Fox Studio Lot in Century City by the end of 2025, ending its lease and consolidating operations in Burbank. (more)

• SAG-AFTRA has extended its commercials contracts negotiations deadline to Friday, keeping union performers on the job while talks continue. (more)

• The MPA is calling on the U.S. to protect copyright in the AI era, insisting innovation and original expression can—and must—coexist. (more)

• Get under the skin of over 27,000 horror movies with the most detailed data-led insights ever compiled. (more)*

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