🎬 Fire Sale 🔥

👋 Good morning! The Academy of Motion Picture Arts and Sciences is rolling out the red carpet for nearly 500 new members. This latest class includes 2024 Oscar winners like Da’Vine Joy Randolph and costume designer Holly Waddington, among other notable talents from around the globe. If everyone says yes, the Academy’s membership will hit 10,910, with 9,934 having the power to cast their votes.

Welcome aboard the Dailies. As you sip your morning brew, we’ll get you caught up with the fast-paced world of Hollywood - no need to chase down a newsstand, we’ve got everything you need right here.

🎞 Here’s what’s on the reel today:

• IATSE Inks Deal

• Paramount’s Fire Sale

• Hollywood’s Gen Z Magnet

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

• Video Village: The latest trailers

• Martini Shot 🍸

IATSE has inked a tentative three-year deal with major studios. This agreement comes as Hollywood has been experiencing a major production slowdown, partly due to looming labor negotiations. If ratified, it could finally cue the cameras to roll again. The deal, covering 13 locals in Los Angeles, follows recent agreements with writers, actors, and directors. While the full details are still under wraps, here are some highlights:

• Pay increases: 7% in year one, followed by 4% and 3.5% in subsequent years

• Triple time for workdays exceeding 15 hours

• Double time on the 7th day for On Call classifications

• AI protections to prevent job displacement

• Measures to address a $670M healthcare funding gap

• New residuals for projects on streaming platforms

The deal now heads to members for ratification. Meanwhile, IATSE is returning to the negotiating table to finalize deal points for the Area Standards Agreement for workers outside LA.

Paramount Global is pulling a Marie Kondo on its assets, and let’s just say not everything is sparking joy. Fresh off rejecting Skydance's merger advances, Paramount's trio of CEOs held a town hall yesterday to share what the company’s path will be going forward. Basically, they're calling in the bankers to offload some of Paramount's prized possessions. On the chopping block: potentially BET, some TV stations, and—plot twist—maybe even the iconic Hollywood lot itself. The company is reportedly eyeing a possible $2B sale-leaseback deal—basically selling the lot, renting it back, and snagging an option for a future repurchase. Oh, and brace for impact: a $500M cost-cutting tsunami is coming, with a focus on eliminating redundant positions across departments (irony alert: this announcement comes from a CEO trio). With profits doing a 61% nosedive since 2018, Paramount's clearly gunning for a comeback story.

🍿🎮 Gaming platforms are increasingly becoming Hollywood’s secret weapon for reaching younger audiences. Enter Roblox: the gaming platform with 78M daily users. Universal lit the spark by launching ‘Kung Fu Panda 4 Obby’ on Roblox—a themed obstacle course game that kids loved—right before the movie’s release. This savvy move pulled kids in early, helping the film snag nearly $200M domestically. It set the stage for other hits like ‘Godzilla x Kong: The New Empire’ and ‘Ghostbusters: Frozen Empire,’ which were also preceded by promotional events on Roblox. Now, ‘Inside Out 2’ and ‘Despicable Me 4’ are riding the wave.

Development 🗒️

• Michael Fassbender will star in and executive produce ‘The Agency,’ an espionage thriller series for Paramount+. (more)

• Freestyle Digital Media has acquired North American rights to the dramatic comedy ‘All Happy Families.’ (more)

• Amazon MGM Studios and Ryan Gosling are teaming up for the zombie comedy ‘I Used to Eat Brains, Now I Eat Kale.’ (more)

• K.J. Apa begins production on the romantic dramedy ‘Falling,’ his third collaboration with Gulfstream Pictures. (more)

• Yorgos Lanthimos’ remake of ‘Save the Green Planet!’ titled ‘Bugonia,’ starring Emma Stone and Jesse Plemons, will be released in theaters on Nov. 7, 2025. (more)

• DC’s ‘Lanterns’ series moves from Max to HBO with a series order, part of a strategy to shift big-budget shows to the linear network. (more)

• Briarcliff Entertainment is nearing a deal to release ‘The Apprentice.’ (more)

• Greta Lee joins the cast of Kathryn Bigelow’s untitled thriller at Netflix, which also stars Idris Elba, Rebecca Ferguson, Jared Harris, and Gabriel Basso. (more)

• Netflix has quietly shelved the urban fantasy drama ‘The Grimm Reality,’ despite having completed filming. (more)

• James Marsden is set to co-star with Vince Vaughn in the 20th Century buddy action comedy ‘Mike & Nick & Nick & Alice.’ (more)

• Eddie Murphy reveals that ‘Shrek 5’ is in the works and a Donkey spinoff movie is also on the way. (more)

• Amazon MGM Studios has won the auction for the true crime film ‘Murder 101.’ (more)

• Bob Odenkirk’s ‘Nobody 2’ has secured Timo Tjahjanto as director and is set for release on Aug. 15, 2025. (more)

• ‘Freaky Friday 2,’ is set for a nationwide theatrical release in 2025. (more)

✅ Renewed & Cancelled ❌

• ‘The Reluctant Traveler With Eugene Levy’ is renewed for S3 at Apple TV+. (more)

Business 🤝

• Fremantle has signed a multi-year first-look deal with Kristen Stewart’s production company Nevermind Pictures. (more)

• The Academy of Motion Picture Arts and Sciences has extended Bill Kramer’s contract as CEO through 2028, securing his leadership for an additional three years. (more)

• Cinemark stock rose over 3% following an upgrade by Roth MKM analyst Eric Handler. (more)

Other News 🚨

• Disney faces pushback in a $300M pay equity class action lawsuit as an L.A. judge orders them to justify withholding certain documents. (more)

• Disney’s attempt to dismiss an antitrust class action regarding its control over ESPN and Hulu was denied again. (more)

• Reality of Change and Rare have assembled 30 studios and production companies to form an advisory committee addressing the climate crisis in the unscripted TV industry. (more)

• Paramount+ with Showtime and Essential plans will see price increases starting August 20. (more)

• Starting in 2025, the SAG-AFTRA Health Plan will cover infertility treatments, joining the Writers Guild of America and Directors Guild of America in offering these benefits. (more)