HBO and A24 are two of the only Hollywood brands left that signal prestige. But for better or worse, both are now leveling up — or is it down? Sean McNulty, Elaine Low, and Richard Rushfield break down HBO’s incorporation of Max’s upcoming tentpole Warner Bros. IP series, like the Harry Potter and Green Lantern adaptations, and A24’s massive investment round led by Josh Kushner. Also: what’s selling now in unscripted and Hollywood’s lost Latin opportunity.

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HBO, A24 and Prestige's Next Phase