🎬 They Predict the Future 🔮

👋 Good morning! Where do you stand on the Coke vs. Pepsi debate? Last week, Sony snagged the script for the film ‘Cola Wars,’ following the iconic rivalry between Coke and Pepsi back in the 80’s. Hopefully it doesn’t fall flat. (…and yes, we're bubbling over with puns this morning!)

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:

• ICYMI: SAG Awards Recap

• WBD's Mixed Financial Reveal

• Cutting Costs, Cutting Creativity

• 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. 🎶 Bob Marley: One Love: Drops 53%, earning $13.5M domestically in its second week for a total of $71.2M. Still reggae king at #1.

2. 🗡️ Demon Slayer: Debuts with $11.6M in the U.S., cutting into #2. Anime box office clout is strong.

3. 👼 Ordinary Angels: Opens at $6.5M domestically. Faith and warmth win big, landing it at #3.

4. 🕷️ Madame Web: Spins $6M in its second weekend for a total of $35.4M. Faces a steep 61% drop.

5. 🐦 Migration: Flies to $3M in its 10th week, reaching $120.4M overall. Continues its long journey.

6. 🕵️ Argylle: Slips to $2.8M in week four, totaling $41.7M. The intrigue wanes with a 43% decrease.

7. 🍫 Wonka: Gathers $2.5M in its 11th week, amassing $214.5M.

8. 🚗 Drive-Away Dolls: Ethan Coen's solo debut makes $2.4M. Star power doesn't rev up box office numbers.

9. 🐝 The Beekeeper: Collects $1.9M in its 7th week for a total of $63.1M. Buzz slows with a 39% drop.

10. ✝️ The Chosen: Brings in $1.8M in its second week, reaching $7.9M.

🏆🔮 SAG Awards 2024: A Prelude to the Oscars? The Screen Actors Guild Awards were held over the weekend at LA’s Shrine Auditorium. The event, live streamed on Netflix for the first time, brought together some of the biggest names in film and TV. The SAG Awards are particularly watched for the insights they offer into the upcoming Oscars. With a voting body comprised of actors—who also make up the largest branch of the Academy—the SAG Awards’ choices often align with the Oscar outcomes, especially in acting categories. Here are some memorable moments and wins from the 2024 SAG awards:

• 'Oppenheimer' took home the award for Best Performance by a Cast.

• Leading Actor Awards: Cillian Murphy for 'Oppenheimer' and Lily Gladstone for 'Killers of the Flower Moon' won in their respective categories.

• Supporting Actor Awards: Robert Downey Jr. won for 'Oppenheimer' and Da’Vine Joy Randolph for 'The Holdovers.’

• 'The Bear' and 'Succession' won best ensemble awards in comedy and drama series categories, respectively.

• Jeremy Allen White ('The Bear'), Ayo Edebiri ('The Bear'), Pedro Pascal ('The Last of Us'), and Elizabeth Debicki ('The Crown') received awards for their performances.

🎬📊 WBD's Mixed Financial Reveal: Warner Bros. Discovery's financial saga took center stage as Wall Street eyeballed its less-than-stellar Q4 and 2023 earnings last week. The spotlight shone on their direct-to-consumer (DTC) segment, which, after a harrowing $2.1B loss in 2022, managed a $103M profit in 2023. Despite this turnaround, overall earnings failed to meet expectations, causing WBD's stock to tumble by 11.4% to $8.47. Last year’s labor strikes acted as a double-edged sword—on one hand it allowed the studio to trim costs, but on the other, content production was slashed. CEO David Zaslav unveiled an “attack plan” for 2024, which includes Max’s global rollout and a dynamite creative pipeline. Analysts are optimistic about a rebound next year, fueled by new TV shows and an exciting film slate. Nevertheless, the celebration of DTC profitability and a strong $3.3B free cash flow was overshadowed by broader profitability issues and a notable decline in ad revenue.

📉😰 Cutting Costs, Cutting Creativity: In a sweeping trend across media, tech, and gaming sectors, companies like Paramount Global, Microsoft, Amazon, Alphabet, and the Los Angeles Times are hitting the ‘reset’ button. They’re initiating significant waves of layoffs, attributing them to investor pressures to streamline operations. This wave of job cuts, despite aiming to beef up stock prices and align costs with revenue, brings to light the profound, often overlooked consequences—ranging from the immediate financial burdens of severance and benefits to the more intangible impacts on employee morale and long-term profit underperformance. Experts argue that while such strategies may offer a temporary boost, the lasting effects can undermine innovation and growth, particularly in industries reliant on intellectual property.

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Development 🗒️

• Warner Bros. Discovery confirms J.K. Rowling's involvement in a new ‘Harry Potter’ TV series aiming for a 2026 debut on Max. (more)

• Lionsgate is developing a live-action ‘Naruto’ film, directed by Destin Daniel Cretton. (more)

• Netflix acquires Academy Award-nominated documentary ‘To Kill a Tiger.’ (more)

• America Ferrera is set to star in and executive produce ‘Naked by the Window,’ a series in development at Amazon MGM Studios after a competitive bidding war. (more)

• Netflix acquires an untitled adult thriller spec from Michael Werwie, with Jason Bateman and Michael Costigan set to produce under Aggregate Films. (more)

• Julia Stiles completes her directorial debut ‘Wish You Were Here.’ (more)

• Nickelodeon will launch a spinoff of ‘The Fairly OddParents’ this spring, titled ‘A New Wish.’ (more)

• Netflix has halted development on the ‘Kane Chronicles’ adaptation. (more)

• The ‘Game of Thrones’ prequel ‘Knight of the Seven Kingdoms’ is set to premiere in late 2025. (more)

• Kal Penn is set to star in ‘Trust Me, I’m a Doctor,’ a film exploring the final days of Anna Nicole Smith. (more)

• Vin Diesel is progressing with the ‘Fast and Furious’ series finale despite recent legal challenges. (more)

• Blumhouse and Platinum Dunes reunite for the thriller ‘Drop,’ directed by Christopher Landon and starring ‘White Lotus’ breakout Meghann Fahy. (more)

• Alexander Payne is working on a Western, and hopes Paul Giamatti will join. (more)

• Scarlett Johansson's directorial debut ‘Eleanor the Great,’ featuring June Squibb, Chiwetel Ejiofor, and Jessica Hecht, announces its ensemble cast. (more)

Business 🤝

• Paramount Global faces a potential credit downgrade by S&P Global, attributed to "weak" cash flow trends amidst the shift from linear television to a direct-to-consumer streaming model. (more)

Awards Season 🏆

• The 2024 Film Independent Spirit Awards took place yesterday. See a full list of winners here. 👈

• The 2024 Producers Guild of America Awards took place yesterday. See a full list of winners here. 👈

Other News 🚨

• Musicians and studios have reached a tentative deal that introduces streaming residuals and AI protections for the first time. (more)

• Warner Bros. Discovery is consolidating its niche MotorTrend+ service into Max and Discovery+. (more)

• USC's School of Cinematic Arts adjunct professors vote overwhelmingly to unionize, joining the United Auto Workers union, amid a wave of increased labor activity in education. (more)