🎬 Hitting the Brakes ✋

👋 Good morning! Jason Reitman has assembled an Avengers-level team of directors, including the likes of Steven Spielberg, Christopher Nolan, JJ Abrams, and Judd Apatow, to save Westwood's iconic Village Theater from becoming another lost relic. With their combined powers, this lineup aims to ensure the theater remains a beacon for cinema fans and not just a footnote in a real estate brochure.

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:

• Tyler Perry’s AI Revelation

• Animation’s New Deal

• Record Attendance at EFM 2024

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

• Release Radar: What to watch this weekend

• Video Village 📀

• Martini Shot 🍸

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

TOP STREAMED THIS WEEK IN THE U.S.

✋ Hit the Brakes! 🛑
Tyler Perry Meets OpenAI’s Sora

Tyler Perry has just announced that he’s putting the brakes on an $800M expansion of his Atlanta studio empire. The planned upgrade, which would’ve added 12 new soundstages to the 330-acre lot, is now in limbo. His reason? Perry cites the eye-opening capabilities of OpenAI’s Sora.

What is Sora? Remember when AI-generated videos were more of a party trick than a professional tool? Flashback to just a year ago, and that was pretty much the scene. Enter Sora, OpenAI’s new groundbreaking text-to-video technology announced last week.

From the same brains behind ChatGPT and DallE, Sora is poised to revolutionize content creation. Imagine a world where a studio can whip up a mockup for a potential pilot entirely using generative AI. By sidestepping the hefty investments traditionally associated with such ventures, studios could not only streamline the decision-making process but also significantly reduce financial risk tied to unused content.

Is it really that good? Let's get real for a sec—Sora's creations aren't going to snag an Oscar any time soon. Video creation is capped at one minute and still prone to AI weirdness (see video linked below 👇). It’s far from perfect, but it's the potential trajectory of the tech that's got everyone talking. As many are pointing out, it’s only going to get better from here.

How is it being received? Sora arrives amid an industry already on edge, with recent strikes spotlighting the contentious role of AI in entertainment. Tyler Perry's reaction, a blend of amazement and concern, encapsulates the double-edged sword of technological advancement. While Sora offers unprecedented creative possibilities, it also raises existential questions about the future of numerous film industry jobs.

The industry's take on Sora is a mixed bag. For every enthusiast thrilled by the dawn of AI-driven creativity, there's a critic or a concerned creator wary of being sidelined by silicon smarts. A recent survey highlighting the potential jeopardy facing nearly 204,000 jobs—from sound wizards to VFX magicians—adds fuel to the fire.

Legal and ethical debates add layers to the narrative. The use of copyrighted materials for training AI systems and the copyright eligibility of AI-generated works remain grey areas, with potential implications far beyond Hollywood studios.

Animation's New Deal: SAG-AFTRA has brokered a new agreement with the Alliance of Motion Picture and Television Producers (AMPTP). Announced on Feb. 21, 2024, this development could see animators enjoying updated contract terms, subject to the ratification by the SAG-AFTRA national board. This deal marks a significant moment, especially considering the backdrop of SAG-AFTRA's recent 118-day strike, the longest in its history. While the ink dries, details remain under wraps.

Berlinale's EFM 2024: Record Attendance Amidst Film Dip: The Berlinale’s European Film Market (EFM) has shattered attendance records this year, drawing over 12,000 professionals from 143 countries. Despite this high, the market felt the aftershocks of Hollywood strikes and programming adjustments, with a 3% decline in buyers and a noticeable 14% reduction in films and series showcased. With 614 exhibitors from 69 countries holding the fort, the event was alive with the deal-making and project pitches, boasting 660 new film projects. Dennis Ruh, the outgoing EFM Director, took his final bow after an epic five-year run, leaving behind a legacy of a vibrant and bustling market.

Development 🗒️

• Tom Cruise is set to star in Alejandro G. Iñárritu's next, yet untitled film at Warner Bros. and Legendary, marking Iñárritu's first English-language project since ‘The Revenant.’ (more)

• Mindy Kaling's Netflix basketball series adds Fabrizio Guido, Toby Sandeman, Chet Hanks, Keyla Monterroso Mejia, and Roberto Sanchez to its cast alongside Kate Hudson. (more)

• America Ferrera and Matthew McConaughey to star in Paul Greengrass' ‘The Lost Bus.’ (more)

• Olivia Munn joins Jon Hamm in the Apple TV+ drama series ‘Your Friends and Neighbors.’ (more)

• Josh Brolin is in talks to star in Zach Cregger's horror thriller ‘Weapons,’ a New Line feature and the anticipated follow-up to the acclaimed ‘Barbarian.’ (more)

• The ‘John Wick’ spinoff ‘Ballerina,’ starring Ana de Armas, is delayed until Jun. 6, 2025. (more)

• Hulu picks up Glen Powell and Michael Waldron comedy ‘Chad Powers.’ (more)

• A ‘Virgin River’ prequel is in the works at Netflix as S6 starts production. (more)

• A Ric Flair biopic is in the works from Dwayne Johnson and Dany Garcia’s Seven Bucks Productions. (more)

• Julia Fox is set to star in Universal and Monkeypaw's psychological horror film ‘Goat,’ alongside Marlon Wayans and Tyriq Withers. (more)

• Lashana Lynch stars in ‘Optimize,’ a sci-fi feature by Lindsey Anderson Beer for Paramount. (more)

• Netflix orders ‘Sirens,’ a dark comedy limited series from ‘Maid’ creator Molly Smith Metzler, produced by Margot Robbie's LuckyChap. (more)

• Joseph Quinn is in talks to join an untitled A24 war movie co-directed by Ray Mendoza and Alex Garland, with Charles Melton also set to star. (more)

• Troy Kotsur joins S3 of ‘Foundation’ on Apple TV+. (more)

✅ Renewed & Canceled ❌

• ‘True Detective’ is renewed for S5 at HBO. (more)

• ‘Frasier’ is renewed for S2 at Paramount+. (more)

Business 🤝

• Amazon says it won’t shut down its Freevee service. (more)

• Silver Lake Management is preparing a bid for Endeavor Group in a deal valued at $7.4B, as analyzed by Deutsche Bank. (more)

• Craig Mazin, co-creator of HBO's ‘The Last Of Us,’ extends his overall deal with HBO & Max for four more years. (more)

• Buzzfeed sells Complex for $108M cash amid restructuring and layoffs. (more)

Other News 🚨

• Writers Guild Awards nominations have been revealed. (more)

What to watch this weekend? 👀

🎥 THEATRICAL

• Drive-Away Dolls: Ethan Coen’s new comedy starring Margaret Qualley, Pedro Pascal and Matt Damon.

📺 STREAMING

• Forumula 1: Drive to Survive S6: (Netflix) The latest season of the hit documentary series.

• Avatar: The Last Airbender: (Netflix) New live-action series based on the popular animated show of the same name.

• Mea Culpa: (Netflix) Legal thriller written and directed by Tyler Perry.

🏆 AWARDS SEASON

• The 30th Annual SAG Awards will stream live on Netflix, Saturday Feb. 24 at 8pm ET/5pm PT.