🎬 Welp, See Ya Next Year Then...

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But first, let’s take a look at what happened at the box office this past weekend!

Taylor Swift: The Eras Tour 🎤🎶 Swift's ‘The Eras Tour’ rakes in $97M, smashing concert film records but just shy of some $100M projections.

The Exorcist: Believer 😱👻 Scoring $11.0M, ‘The Exorcist: Believer’ sees a -58% second weekend drop, somewhat softer than several horror sequel contemporaries.

Paw Patrol: The Mighty Movie 🐾🚒 ‘Paw Patrol: The Mighty Movie’ fetches $7.0M in its third weekend, outrunning its 2021 predecessor with a global $126.3M.

Saw X 🪚👹 With a gentle -27% dip and $5.7M in its third frame, ‘Saw X’ accumulates a solid $41.4M but trails the original slightly.

The Creator 🤖🚀 ‘The Creator,’ earning $4.3M, drops -31% in its third weekend, aligning with varied performance metrics of recent adult sci-fi flicks.

See Ya Next Year!
The Latest on the SAG Strike, and Why Production Likely Won’t Resume Until the New Year

Let’s jump in where we left off in last Thursday’s issue. A potential deal, seeming to peek over the horizon last week, got swallowed by a sudden halt in talks, deflating the collective industry optimism. Amid a flurry of commentary from both sides over the past few days, a SAG revenue proposal is stealing some of the spotlight.

One of the main things SAG has been seeking from the get-go is a 2% cut of the successes from hit TV shows. After facing resistance from the studios, SAG eventually pivoted to a subscriber-based request. SAG’s Oct. 12 memo said the following:

Sarandos Speaks and SAG Responds

Netflix co-CEO, Ted Sarandos, chimed in last Thursday labeling the proposal a “levy” on Netflix’s mega-subscriber base (230 million), claiming it was a “bridge too far.”

SAG negotiator Duncan Crabtree-Ireland wasn’t too thrilled about Sarandos’ comments on the proposal, calling it “an inaccurate, inappropriate, and fairly offensive description because this is not a tax.” Crabtree-Ireland and SAG also accused the AMPTP of misrepresenting the cost of the proposal to the press, claiming the $800M figure they used in their press release would actually be closer to $500M.

The AMPTP did bring something to the table - a "first-of-its-kind success-based residual for High-Budget SVOD productions," similar to what it proposed to the WGA. This didn’t exactly hit the mark for SAG. Crabtree-Ireland was pretty clear that what works for writers simply won’t cut it for actors due to their different economic structures.

Hollywood Union Solidarity

Other Hollywood labor groups, including the WGA, DGA, and IATSE, are standing shoulder to shoulder, calling for studios and streamers to get back to that negotiating table and hash things out in good faith. The collective demand is clear: AMPTP needs to address the specific needs of performers and cut a fair deal.

When Should We Expect a Deal?

Well, it’s unclear. Crabtree-Ireland told Deadline that the ball is in the AMPTP’s court—they walked away from the table, and SAG is ready to negotiate again when they are.

The clock’s ticking, and as the typically-quiet holiday season looms, the desire for production to reboot in the new year is growing more urgent. The financial strain of the work-stoppage continues to ripple through the local economy and Hollywood’s rank-and-file, even as some parts of the industry are beginning to come back to life. But without our beloved front-of-camera talent, production can’t properly begin, leaving the industry in a lurch.

And What About Resuming Production Before the New Year?

If, by some miracle, a deal does appear in the coming weeks, the likelihood of studios hitting pause until after the holiday season is high, considering the financial strain and logistical nightmares of initiating production in the festive period. It’s looking like a subdued holiday season for Hollywood might just be in the cards either way, with the real action kicking off in the new year. For now, we’ll just have to wait and see how things unfold.

Netflix Ventures into Retail with Theme Park-Like Outlets 🏠🎥 Netflix is breaking the fourth wall by diving into the retail world with bricks-and-mortar outlets. The streaming giant aims to set up two U.S. spots by 2025 that are less store, more mini theme parks with immersive installations, themed munchies, and merch. Think walking into the world of 'Stranger Things' or trying to survive a 'Squid Game' obstacle course (safely, of course). VP Josh Simon, previously from Nike and Disney, has been steering Netflix's retail ship, already launching over 40 pop-ups and an online shop of exclusive Netflix originals merch. 🛒🎬 These real-world ventures will surely prop up their streaming service through fan engagement and marketing.

No Fakes in the Spotlight 🚫🤖 Four U.S. senators tossed a draft bill into the ring, aimed at warding off the unauthorized AI-generated clones of our beloved actors and musicians. Called the NO FAKES Act, this legal doc is aimed at protecting our stars, stating that no AI should mess with their voice or likeness without a hearty 'Yes' from the original. And hey, even after they’ve left the spotlight for good, their digital selves get VIP treatment, being kept under lock and key for 70 years! SAG-AFTRA gave it a thumbs-up, with Fran Drescher agreeing that a performer's essence is their very own.

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