🎬 Mixed Signals 🤔

👋 Good morning! Urban explorers in the UK just stumbled upon what they claim is an abandoned ‘Fantastic Four’ film set... nearly 1,000 feet underground in a Derbyshire mine. Complete with a retro American bus, elevator car, and mysterious lighting rigs, it's either Marvel's most elaborate security measure yet, or someone really committed to their fan film.

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:

• Hollywood’s Sending Mixed Signals

• Future of Funding

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

• Video Village: The latest trailers

• Martini Shot 🍸

CLOSEUP
🤔 Hollywood’s sending mixed signals…

LeBron James' media venture SpringHill just revealed some eye-opening numbers, losing nearly $30M last year on $104M in revenue. But here's the plot twist—this comes right as Hollywood celebrates its biggest Thanksgiving box office ever. So what’s really going on in Hollywood?

SpringHill's struggles tell a bigger story about celebrity-backed production companies:

• Bleeding $28M in 2023 (after losing $17M in 2022)

• More red ink expected to flow in 2024

• Recently merged with Fulwell 73 (makers of 'The Kardashians') to stay afloat

• Originally valued at $725M in 2021 with less than $80M in revenue

And SpringHill's not the only one feeling the heat:

• Reese Witherspoon's Hello Sunshine is missing those profit targets

• Kevin Hart is revamping his company's leadership

• The Rock's Seven Bucks Productions is struggling for ‘Red One’ profits at $250M cost and a $30M opening

• Turns out making hit shows is tougher than selling products like tequila (we're looking at you, George Clooney)

The struggle isn't limited to celebrity ventures. From major studios to indie producers, everyone in Hollywood is facing a sobering reality check as streaming services tighten their belts and production costs soar.

But wait... what about that record-breaking holiday box office? Thanksgiving 2024 just made Hollywood history. The box office exploded with 'Moana 2' leading the charge at $221M domestically—the biggest Thanksgiving opening ever. Meanwhile, 'Wicked' and 'Gladiator II' each sailed past $300M globally.

Here's the reality check: these holiday wins paint a deceptively rosy picture. All three blockbusters were greenlit years ago and strategically positioned for this prime holiday window with massive marketing campaigns. They're the product of pre-pandemic and pre-strikes Hollywood, not today's reality. While they prove audiences will still show up for big events, the broader numbers tell a different story—box office revenues remain 40% below pre-pandemic levels.

Looking ahead… The question isn't whether Hollywood will survive—it's what version of Hollywood emerges from this transformation. Will it be fewer, bigger bets? A new model for celebrity-backed ventures? Or something entirely different?

CLOSEUP
💰 Hollywood might have a new funding playbook…

‘Spotlight’ producer Michael Sugar's company Sugar23 is teaming up with Fifth Season on a $100M venture that might rewrite the rules of brand-funded entertainment.

The new studio is investing $100M over three years in scripted and unscripted content, with a revolutionary twist on brand partnerships. Unlike traditional sponsorship deals, brands get unprecedented creative involvement from development through production—shaping narratives that align with their values while maintaining premium entertainment standards.

Sugar23's not exactly new to this game. The company recently produced "The Way Upfronts," an industry-first marketplace that directly connected premium long-form producers with over 100 brands looking to enter the entertainment space. Think of it as speed dating for content creators and companies—but instead of dinner plans, they're making multi-million dollar production deals.

The company's early brand partnerships show promise:

• Starbucks Studios signed an exclusive development deal

• Chick-fil-A is working on a new content platform

• P&G Studios collaborated on NBC's ‘Turning Point’ with Trevor Noah's Day Zero

The bigger picture: As Hollywood grapples with shrinking budgets and post-strike belt-tightening, this venture could be game-changing. Major brands, already armed with massive audiences and established values, are poised to become serious content players. It's a wake-up call for traditional media companies—soon, every major brand could be a potential competitor in the storytelling space, not just another advertiser looking for placement.

INTERMISSION: A MESSAGE FROM OUR SPONSOR
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LAST LOOKS
Development 🗒️

• Anya Taylor-Joy will star in and executive produce ‘Lucky,’ a Reese Witherspoon-backed Apple TV+ series. (more)

• Netflix secures a 7-figure deal for Callie Hart’s BookTok-hit fantasy romance ‘Quicksilver,’ aiming to adapt it into a major film series. (more)

• Former ‘Grey’s Anatomy’ showrunners team up for ITV’s ‘Majesty,’ reimagining young Elizabeth I’s life through conspiracy-fueled drama. (more)

• Jane Goodall’s life is being adapted into a Disney film, with Eleanor Catton writing the screenplay and Leonardo DiCaprio’s Appian Way producing. (more)

• Doug Liman confirms Tom Cruise will star in the long-gestating supernatural thriller ‘Deeper,’ now in early development at Warner Bros. (more)

• Celeste O’Connor joins the cast of ‘Scream 7,’ set to star alongside Neve Campbell in the latest installment of the horror franchise. (more)

• Jason Clarke will star as Alex Murdaugh in Hulu’s limited series about the notorious real-life murder case. (more)

Renewed & Canceled ✅ ❌

• ‘Bel Air’ is renewed for a final S4 by Peacock. (more)

Business 🤝

• TelevisaUnivision announces layoffs as part of a restructuring plan to streamline operations and strengthen its position for 2025 and beyond. (more)

• David Ellison plans to merge Paramount’s TV networks into a single unit post-Skydance merger, with leadership changes and cost cuts expected. (more)

• Regal Cineworld secures $1.9B refinancing, reducing annual interest costs by $60M and positioning itself for post-pandemic box office growth. (more)

• Goldove Entertainment sues distributor Wild About Movies, alleging botched theatrical release plans led to ‘Lumina’s’ box office failure. (more)

• Gersh acquires You First, doubling in size and launching Gersh Sports to expand into global sports representation. (more)

• AMC set a record-breaking Thanksgiving weekend with 8.8M attendees, fueled by ‘Moana 2,’ ‘Wicked,’ and ‘Gladiator II.’ (more)

Other News 🚨

• Brady Corbet’s ‘The Brutalist’ wins Best Film and Adrien Brody takes Best Actor at the New York Film Critics Circle Awards, solidifying Oscar buzz. (more)

• Max begins its password-sharing crackdown next week with gradual enforcement planned through 2025. (more)

VIDEO VILLAGE
📺 Latest trailers

MARTINI SHOT
🍸 Latest viral moments

INTERMISSION: A MESSAGE FROM OUR SPONSOR

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