🎬 Peak Advertising

👋 Good morning! SAG-AFTRA voice actors are hitting the picket lines at Warner Bros. Games in Los Angeles tomorrow from 9 a.m. to 12 p.m. PT. This first in-person action targets 10 major game companies, including Activision and Disney. Leading the charge will be Sarah Elmaleh and Ashly Burch, alongside National Executive Director Duncan Crabtree-Ireland.

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:

• Olympics Ratings Skyrocket

• AMC's Alternative Content

• Netflix Borrows Big

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

• Video Village: The latest trailers

• Martini Shot 🍸

💰📈 The Paris Olympics are scorching the ratings, with NBCUniversal reporting a whopping 33.8M average viewers in the first four days - a 77% jump from Tokyo's games. Digital ad revenue has more than doubled compared to Tokyo, with streaming platform Peacock seeing significant gains. Across the pond, Warner Bros. Discovery is also striking gold, with Max accounting for 80% of WBD's total streaming audience for the Olympics in Europe, pulling in more unique viewers in two days than the entire Tokyo Games. NBC is set to break Olympic advertising records, surpassing Tokyo's $1.25B haul, with nearly half a bil coming from first-time sponsors. While most ads are hitting the mark, Google's Gemini AI spot has sparked controversy. These numbers show that despite cord-cutting trends, live sports—especially global events—still reign supreme in the streaming age. The challenge now? Leveraging this momentum to retain viewers and advertisers in the post-Olympic landscape.

🏟️🍿 AMC Theatres is hitting gold in its quest for alternative content, transforming its big screens into venues for more than just movies. While you're streaming Olympics highlights, some folks are cheering on Team USA from AMC theaters. Yes, select AMCs are screening live Olympic events, transforming multiplexes into high-def sports bars. It's their latest alternative content play, a post-strike lifeline amid patchy release schedules. From Taylor Swift to Beyoncé to Billie Eilish, AMC's string of concert films has been music to their ears, with Swift's ‘Eras Tour’ alone netting $267M globally. Now, they're betting on Usher's upcoming concert film to keep the momentum going. And get this: 77% of moviegoers say they're down to watch TV on the big screen, while 63% would show up for live sports. That's a goldmine of potential ticket sales when blockbusters are scarce. The catch? Licensing these events is tougher than decoding ‘Tenet.’ But if theaters clear this hurdle, your local cinema could become the hottest spot in town—for everything except actual movies.

💵🤝 Netflix is taking on $1.8B in new debt. It's their first time borrowing since earning an "investment grade" rating—basically a financial seal of approval. The goal? Paying off old loans and funding "general corporate purposes"—corporate-speak for "we've got plans, but we're not telling." Here's the kicker: Netflix is already cash-flow positive, yet they're still hungry for more dough. Even with this new debt, they're sitting pretty with about $14B in total IOUs—pocket change compared to traditional media giants. Some, like Paramount Global, have even lost their fancy investment-grade status. This cash injection means more money for new shows, movies, and pricey NFL and WWE deals that'll need serious cash. Smaller streaming services might start sweating, and traditional TV networks? They're looking more outdated by the minute. In the long run, we could see a streaming landscape dominated by a few big players with deep pockets.

A MESSAGE FROM TODAY’S SPONSOR
Hot Deal — Final Draft Screenwriting Software is on sale!

Skip the pool and work on your screenplay with Final Draft 13, the industry standard screenwriting software. On sale for a limited time! Sale ends 8.12.24.

Development 🗒️

• FX has greenlit the comedy series ‘Snowflakes,’ created by ‘The Tonight Show’ writers Ben Kronengold and Rebecca Shaw. (more)

• Boyd Holbrook joins the cast of ‘The Morning Show’ for S4 on Apple TV+. (more)

• ABC has ordered the Tim Allen comedy series ‘Shifting Gears.’ (more)

• Lil Rel Howery, Maude Apatow, and Katt Williams join Keke Palmer and SZA in Issa Rae’s untitled buddy comedy for TriStar. (more)

• Tim Blake Nelson, Mireille Enos, James Badge Dale, Lois Smith, and Anna Chlumsky star in Ari Selinger’s indie drama ‘On the End.’ (more)

• Ryan Kavanaugh’s GENTV will debut its influencer-driven movie slate with ‘Skillhouse’, starring Bryce Hall, this Halloween, following a viral 10-minute clip. (more)

• Minka Kelly will star in Netflix’s holiday rom-com ‘Champagne Problems.’ (more)

• ABC passes on Ty Burrell’s ‘Forgive & Forget’ pilot. (more)

• Hulu orders ‘Fanatical: The Catfishing of Tegan and Sara,’ a documentary about a catfishing scheme targeting fans of the queer indie rock band. (more)

• Nava Mau joins the cast of ‘You’ S5. (more)

✅ Renewed & Cancelled ❌

• Disney+ cancels Sally Wainwright’s ‘Renegade Nell’ after S1. (more)

• Prime Video renews ‘Betty la Fea, La Historia Continúa’ for S2. (more)

Business 🤝

• Edgar Bronfman Jr. is still considering a bid for Paramount’s controlling shareholder, National Amusements Inc., during Skydance’s “go-shop” period, set to expire on Aug. 21. (more)

• Lionsgate plans to simplify its share structure by merging its dual-class shares into a single class ahead of spinning off its studio business. (more)

Other News 🚨

• WGA East accuses Crooked Media of union-busting amid contract negotiations, filing an Unfair Labor Practice charge against the progressive podcast company. (more)

• Jimmy Kimmel and John Mulaney have both declined offers to host the 2025 Oscars. (more)