PricewaterhouseCoopers' Global Entertainment & Media Outlook 2024-2028 projects that by 2028, advertising will make up nearly 28% of streaming revenue, up from 20% in 2023. The entertainment and media industry is forecasted to reach $3.4 trillion, with global OTT subscriptions…
Paramount Global is in talks to potentially sell Pluto TV, led by Pluto TV's co-founder. While no valuation or official offers have been made, the sale's value will depend on whether it includes exclusive access to Paramount's content. Pluto TV's…
Warner Bros. Discovery CEO David Zaslav highlighted industry consolidation due to streaming, AI, and pandemic disruptions at the 2024 Allen & Co. Sun Valley Retreat. Warner Bros. Discovery and Paramount have both made significant layoffs this year, with over 300…
Redbox’s streaming service and DVD rentals will cease operations after its parent company, Chicken Soup for the Soul Entertainment, converted its bankruptcy to Chapter 7, forcing asset liquidation. This shutdown affects other streaming services under the same parent company, including…
The NBA is nearing a $76 billion media rights deal with NBCUniversal, Amazon Prime Video, and Disney/ESPN, set to commence after the 2024-25 season. Turner Sports, a long-term partner, is seeking to match Amazon’s offer to retain rights. The finalized…
Peacock is increasing its subscription price by $2 ahead of the Summer Olympics in Paris, a strategy aimed at boosting subscriber numbers. Despite growth, Peacock ranks lowest in US audience demand share for originals and relies on linear programming for…
U.S. Bankruptcy Court judge has given preliminary approval for $8 million in debtor-in-possession funding for Chicken Soup for the Soul Entertainment (CSSE), owner of Redbox Entertainment. The loan aims to pay the company's 1,000 employees and avoid immediate harm to…
Discovery and AT&T’s 2022 merger of Warner Bros. for $43 billion faced a shareholder lawsuit over fairness. A $125 million settlement has now been reached. AT&T holds 71% ownership of Warner Bros. Discovery, with Discovery owning 29%, and Discovery's leadership…
Redbox technicians faced a sudden work stoppage in June due to severe financial troubles. Chicken Soup for the Soul Entertainment, which acquired Redbox in 2022, filed for bankruptcy with nearly $1 billion in debt. Issues include unpaid payroll, lapsed health…
Skydance Media, led by David Ellison, has reached a preliminary $1.75 billion agreement with National Amusements to acquire a majority stake in Paramount Global. The deal, pending a special committee's approval, includes a 45-day window for counter offers and doesn't…
