No one seems to be safe in Hollywood these days. Over the past year, major studios like Disney, Warner Bros. Discovery, Paramount, NBCUniversal, Amazon MGM Studios, Lionsgate, Netflix, Sony, Fifth Season, and numerous talent agencies including CAA and UTA have implemented waves of layoffs. The series cancellations during the dual strikes in 2023, coupled with substantial budget cuts and an almost non-existent pilot season, have left hundreds of workers at home, scrambling for employment opportunities on LinkedIn. This challenging situation [...]

The text-to-video model debut in AI-powered video creation marks a notable advancement and a legal debate ahead and OpenAi's CEO has scheduled meetings with Hollywood studios next week. The potential of OpenAI, a U.S.-based artificial intelligence research organization founded in December 2015, has been widely acknowledged. The recent unveiling of Sora, an application designed to revolutionize the creation of cinematic content without necessitating traditional film school education, marks a significant milestone for the company in the entertainment sector. As a [...]

Hollywood has yet to shake off the effects of last year’s dual strikes, and a new labor showdown is unfolding. With the motto “Many crafts, one fight,” the behind-the-scenes crews could be next to challenge Studios and streamers. On March 4th, the International Alliance of Theatrical Stage Employees (IATSE), Teamsters, and the Hollywood Basic Crafts began negotiations with The Alliance of Motion Picture and Television Producers for a fair contract renewal as the current one expires on July 31st. Over [...]

Professionals in the industry fear the prospect that numerous digital files may one day become obsolete While tax optimization strategies, like those employed by David Zaslav and Bob Iger, have stirred controversy by deleting content from streaming platforms, the real concern lies in the deterioration of digital archives, echoing the archival tragedies of the celluloid era. Behind closed doors and nondisclosure agreements, industry professionals fret over the fragility of these archives, fearing that master files of contemporary pop culture could [...]

The production of episodic television is declining after a long period of growth. Netflix plans to invest more than half of its annual budget in content produced outside of North America. This year, Netflix will spend about $8 billion on international content, including its original content for international markets and licensing of titles. Production costs have increased in the United States, prompting platforms to focus on international content. Netflix and Amazon aim to produce global hits like "Squid Game". Looking [...]

The Lucasfilm title will get $21.8 million in tax credits, becoming just the fifth movie in the history of the program to get at least $20 million The upcoming Lucasfilm theatrical release “The Mandalorian & Grogu” is one of 15 films to secure an estimated $61 million in 2024 production tax incentives through California’s Film and Television Tax Credit Program reports Variety The California Film Commission highlighted Disney's "Mandalorian & Grogu" as the largest-budget film ever to qualify for the [...]