Rapid Response: What’s the next Barbenheimer? with The Ankler’s Janice Min
Jul 16, 2024
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Entertainment expert Janice Min discusses Hollywood's challenges in the age of streaming, from lackluster summer movies to the rise of Netflix. She explores the impact of studio deals, NBA rights costs, and the struggle for digital attention in the media industry.
Legacy studios face challenges from streaming services and debt, while independent studios have agility advantage.
YouTube's influence underestimated by Hollywood; creators favor direct audience connections over traditional studios.
Deep dives
Challenges Facing Legacy Studios in Hollywood
Legacy studios like Disney, Warner Brothers Discovery, and Paramount are burdened with significant debt and are grappling with the impact of streaming services and new competition. Disney, for example, is focusing more on theme parks and live experiences as streaming services like Netflix and Amazon continue to reshape the industry.
Disruption and the Rise of Independents
The entertainment industry is experiencing significant disruption, with many predicting the rise of independent studios over traditional legacy studios. These nimble upstarts are better positioned to adapt and innovate quickly compared to established studios burdened with outdated infrastructure and debt.
The Underestimation of YouTube and Shift in Creator Dynamics
Despite efforts by major competitors like Netflix, Disney, and Warner Brothers Discovery, YouTube remains highly popular, especially among younger viewers. Hollywood tends to underestimate YouTube's dominance and its potential to evolve beyond a promotional platform. Creators are increasingly bypassing Hollywood in favor of direct connections with audiences, showcasing a shifting power dynamic in the entertainment landscape.
Summer’s not so hot at the movie theaters, and the same goes for streaming. Nothing’s come close to last year’s Barbie-Oppenheimer success, and Janice Min of entertainment news startup Ankler Media can’t say she’s surprised. Janice vets Hollywood’s offerings for the summer entertainment cycle, weighs in on deals from Paramount/Skydance to the astronomical price of NBA rights, and lays out the financial reality for media companies in an age of scrambling for everyone’s digital attention.