🎬 Hollywood's Latest Obsession 🤫

👋 Good morning! Welcome aboard the Dailies.

Whether you're a seasoned subscriber or a new arrival, we're thrilled to have you here. Twice a week, on Mondays and Thursdays, we'll deliver the most important industry scoops directly to your inbox.

🎞 Here’s what’s on the reel today:

• Closeup: Hollywood’s Latest Obsession

• Sorkin’s Exit

• AI vs. Universal

• IMAX’s New Opportunities

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

• Release Radar: What to watch this weekend

• Video Village 📀

• Martini Shot 🍸

But first, it’s Thursday, so let’s take a look at what people were watching this week… 👀

MOST STREAMED THIS WEEK

Hollywood’s IP Madness
🔥 Hollywood’s Latest Obsession and What It Means for the Industry 🤔

You've probably noticed Hollywood's latest infatuation: Intellectual Properties (IPs). From dusty old books to the latest viral articles and podcasts, Hollywood is in a mad dash to snap them up.

Of course, IP has always been a huge part of the industry, often considered a safer bet by producers, given the potential of an existing fan base. But the landscape has dramatically evolved. Newcomers like A24 are driving six-figure deals, often leaving legacy studios such as Sony and Warner Bros. playing catch-up. The price tags for IPs have been on the rise, with high bids peaking during the early days of COVID. In fact, some studios were bidding just to stay competitive. So what’s triggering this IP rush lately? Let’s take a look:

Well, remember those early days of the COVID-19 lockdown when all of Hollywood seemed to hit pause? Some insiders are comparing the recent surge in media-rights sales to that time. Why? Everyone was at home, diving into podcasts and novels—not just the usual industry chatter.

Fast-forward to this past summer, and things weren’t too dissimilar with two big industry strikes. IP became the hot commodity since original ideas weren’t flying off the shelves. Now, couple that with the additional influence of some big names jumping into the scene, and you have a ripe environment for an IP gold rush.

During the recent work stoppages, the big brains of Hollywood didn’t just Netflix and chill; they deep-dived into every conceivable form of written content. Their aim? Scouring for the next story to adapt. And boy, did they find some gems. The race was on. 🏁 Here are some recent examples:

• UTA’s Jason Richman picked ‘Daddy Ball,’ a true story based on a rivalry between two Little League dads.

• Netflix dished out seven figures for ‘The Push,’ a short story from The New Yorker.

• ‘The Horror of Dolores Roach,’ originally a podcast, is now set for a TV series transformation.

• Margot Robbie's LuckyChap Entertainment grabbed ‘Barbed Wire Heart’ by Tess Sharpe, an indie sensation.

So, what could this mean for Hollywood's future? 🤔

1. The Rise of the Adaptors: We might see a new wave of writers and directors who specialize in adaptations. Think about it: if you’re great at taking a podcast or book and spinning it into a screen-worthy tale, you're Hollywood's new MVP. 🌟

2. Scouting 2.0: The scouts who once roamed college campuses looking for the next Meryl Streep might now be in bookstores or scrolling through trending podcasts. Spotting a potentially adaptable IP might just become an art form. 🎨

3. IP Over Originals?: Original screenplays have always been Hollywood’s backbone, but with this IP frenzy, will they become the exception rather than the rule? A pre-existing audience and a proven concept might just become the safer bet. 🎲

4. A More Diverse Range of Stories: This could be a silver lining. With so many IPs out there, Hollywood has a chance to tell a wider range of tales, from different cultures, backgrounds, and voices. 🌍

Will Hollywood’s love affair with IPs last, or is it a mere fling? Well, not everyone thinks it will last. Some insiders think it's just a "we're bored during the strikes" phase, while others believe it’s the new normal. With studios and networks seemingly less interested in original ideas, having a solid IP can be the golden ticket to getting writers and actors onboard.

Maha Dakhil's Posts Shake Hollywood, Sorkin Exits 😮🎥 CAA agent Maha Dakhil faced backlash after reposting controversial comments on social media about Israel, prompting her to step down from the agency’s internal board and leadership roles in the motion pictures department. Notably, while she represents big Hollywood names like Tom Cruise, Madonna, and Natalie Portman, it's Aaron Sorkin's departure from CAA to WME that's stealing headlines. Sorkin previously made a shift from CAA to WME back in 2017, but his recent exit directly follows the Dakhil situation. Despite the controversy, Dakhil apologized for her posts, emphasizing her commitment to peace and humanity.

AI & Universal's Big Lyric Clash 🎶🤖 Anthropic, a major AI player backed by a hefty $4B from Amazon, is in hot water. Top music publishers are suing, alleging that Anthropic's chatbot, Claude, misuses copyrighted song lyrics. The stakes? A potential $75M payout! Plus, publishers want the AI's inner workings revealed and offending data deleted. While this drama unfolds in the music scene, our Hollywood writers might be next on the ticket. If AI starts penning Oscar-worthy scripts or bestsellers, who's owning those stories? We’ll have to wait and see how it all unfolds. 🍿🎬📚

IMAX Eyes New Opportunities Amid 2024 Film Delays 🎥🍿 IMAX CEO Richard Gelfond hinted that 2024 might see some shake-ups in the film slate due to the current strikes. But don't hit the panic button just yet! This could mean some unexpected blockbusters on those larger-than-life IMAX screens. Remember how ‘Dune 2’ getting postponed gave us ‘The Marvels’ and that ‘Hunger Games’ installment in 2023? Plus, concert films like Taylor Swift's tour and Beyonce’s ‘Renaissance’ turned out to be surprise releases, juicing up IMAX’s revenues. And with big names like ‘Mission: Impossible 8’ shifting dates, we might be in for more surprises next summer. 🍿

Development 🗒️

• Christopher Storer, creator of ‘The Bear,’ is developing a series at FX based on Sarah Harman's upcoming book ‘All the Other Mothers Hate Me.’ (more)

• Lionsgate has acquired U.S. distribution rights to Guy Ritchie's upcoming action film, starring Jake Gyllenhaal, Henry Cavill, and Eiza González. (more)

• Halle Berry is set to star and produce the thriller 'The Process,' with FilmNation managing international sales at AFM. (more)

• Olivia Colman and Dev Patel are set to star in the "twisted" romance film 'Wicker,' with sales launching at AFM by Black Bear. (more)

• Hulu and showrunner Liz Tigelaar are adapting Lucy Foley's best-selling mystery ‘The Guest List’ into a limited series. (more)

• Nick Cannon is hosting a new VH1 docuseries, ‘Nick Cannon Presents: Future Superstars.’ (more)

• Amazon MGM Studios is turning the best-selling book 'Glossy' about beauty brand Glossier and founder Emily Weiss into a TV series. (more)

• Kevin Costner's big-budget Western ‘Horizon: An American Saga’ is up for sale to international buyers at the AFM through German-based sales firm K5 International. (more)

• ‘Cold Copy’ featuring Tracee Ellis Ross has been picked up for distribution by Vertical, set for release in early 2024. (more)

Releases 📅

• ‘Mission: Impossible 8’ is delayed to May 2025, while ‘A Quiet Place: Day One’ moves to June 2024, affecting other major movie release dates. (more)

• The film 'BlackBerry,' is set to air as a three-part limited series on AMC, featuring Jay Baruchel, Glenn Howerton, and Cary Elwes. (more)

Business 🤝

• Apple is planning to release a revamped TV app in December. (more)

• Apple TV+ and other Apple subscription services are increasing their prices, with Apple TV+ going from $6.99 to $9.99 monthly. (more)

• Tyler Perry has inked a multiyear first-look film deal with Netflix, working on projects like WWII film 'Six Triple Eight' and drama 'Mea Culpa.' (more)

• Disney is reportedly close to selling its $10B-valued Indian operation to Reliance Industries. (more)

• IMAX reports a significant revenue boost in the September quarter, primarily driven by the film ‘Oppenheimer,’ resulting in a $12 million profit. (more)

• Plan B Entertainment and Oscar-winning director Kevin Macdonald team up in a joint venture to create unscripted films and TV series. (more)

• Paramount+ is introducing premium and advertising subscription tiers in multiple markets. (more)

Strike News 🪧

• Negotiations between SAG and studios paused yesterday as the union reviewed the studios' latest proposal. Both parties are set to reconvene later today.

Other News 🚨

• Disney's 2024 Writing Program, which helps emerging writers secure their first staff writer assignment on a Disney series, is open for applications. (more)

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What to watch this weekend? 👀

THEATRICAL 🎥

• Freelance: New John Cena and Alison Brie action/comedy.

• Five Nights at Freddy’s: Horror thriller starring Josh Hutcherson.

• Fingernails: Sci-fi romance starring Riz Ahmed and Jeremy Allen White.

STREAMING 📺

• Pain Hustlers: (Netflix) Netflix’s new crime drama starring Emily Blunt and Chris Evans.

• Life on Our Planet: (Netflix) Spielberg-produced story about life’s four-billion-year journey on Earth.

• South Park: Joining the Panderverse: (Paramount+)