Posts Tagged ‘street’

WWE Will Cut 7% of Its Workforce

August 1, 2014  |  Media Week  |  No Comments

World Wrestling Entertainment will slash 7 percent of its workforce after reporting operating at a loss in the second quarter due to the costs of ramping up its online-subscription service. WWE reported a net loss of $14.5 million, compared to a net profit of $5.2 million last year. "The staff cuts, and other cost-cutting moves, would help boost operating income before depreciation and amortization by $30 million in 2015," WWE said, adding that the cuts would effect around 50-60 staffers across all business units. WWE launched their WWE Network in February, making WWE the first entertainment company with a cable presence to offer a stand-alone online subscription service . Yesterday, WWE reported 33,000 WWE Network subscribers since April for a total of 700,000 subscribers—still 300,000 short of its year-end goal of one million. According to The Wall Street Journal , the company "noted that 1.3 million to 1.4 million subscribers would put it past a break-even point offsetting difficulties in pay-per-view." To increase interest in the service, WWE will add new payment options (the service was originally only available as a six-month subscription), including a commitment-free $19.99 monthly plan. "For us the payment options are one way to continue learning, to see how people approach it," George Barrios, WWE's chief strategy and financial officer, told The Wall Street Journal. "The fact that we've gone from 0 to 700,000 paying subscribers, I feel really proud."

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WWE Will Cut 7% of Its Workforce

August 1, 2014  |  Media Week  |  No Comments

World Wrestling Entertainment will slash 7 percent of its workforce after reporting operating at a loss in the second quarter due to the costs of ramping up its online-subscription service. WWE reported a net loss of $14.5 million, compared to a net profit of $5.2 million last year. "The staff cuts, and other cost-cutting moves, would help boost operating income before depreciation and amortization by $30 million in 2015," WWE said, adding that the cuts would effect around 50-60 staffers across all business units. WWE launched their WWE Network in February, making WWE the first entertainment company with a cable presence to offer a stand-alone online subscription service . Yesterday, WWE reported 33,000 WWE Network subscribers since April for a total of 700,000 subscribers—still 300,000 short of its year-end goal of one million. According to The Wall Street Journal , the company "noted that 1.3 million to 1.4 million subscribers would put it past a break-even point offsetting difficulties in pay-per-view." To increase interest in the service, WWE will add new payment options (the service was originally only available as a six-month subscription), including a commitment-free $19.99 monthly plan. "For us the payment options are one way to continue learning, to see how people approach it," George Barrios, WWE's chief strategy and financial officer, told The Wall Street Journal. "The fact that we've gone from 0 to 700,000 paying subscribers, I feel really proud."

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Time Warner Sale: CEO Incentives Could Inspire Troublesome Megadeals

July 22, 2014  |  Variety  |  No Comments

The prospect of 21st Century Fox acquiring Time Warner has Wall Street and Hollywood bracing for a wave of mergers and acquisitions to hit the media sector. Conventional wisdom holds that entertainment conglomerates must bulk up to counter the size of tech giants like Google and the pending combinations of Comcast/Time Warner Cable and AT&T/DirecTV.... Read more

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ABC Taps New Programming Sales Chief

July 11, 2014  |  Media Week  |  No Comments

ABC has hired Mike Dean as its new vp, programmatic and data-driven sales, The Wall Street Journal reports . Dean joins the Disney-owned network from ad tech firm Videology, where he was vp, media platform sales and solutions. Before Videology, Dean served as director, publisher services at Vibrant Media and business development manager - Bing for Microsoft. "Mike has a wealth of experience in digital and new media sales," said Pooja Midha, senior vice president of digital ad sales, in a statement. "We are very happy that he will lead the ABC sales team as we continue to lead the way in finding innovative solutions for all of our clients." The move comes following ABC's announcment at its upfront in May that it will be teaming up with video ad firm FreeWheel in launching a programmatic video effort. That move was seen largely as a reaction to Comcast's purchase of FreeWheel, which, according to The Wall Street Journal, caused media executives to voice "concerns privately that Comcast...is gaining too much clout in the growing digital TV business."

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Guillermo del Toro Teases ‘Pacific Rim 2′: ‘Some New Jaegers, Lot of New Kaiju’

July 5, 2014  |  Variety  |  No Comments

It looks like “Pacific Rim 2″ may explore the concepts of the Drift (a process pilots undergo before synchronizing with the Jaeger) and the portal more in depth than the first pic. In an interview with the Wall Street Journal, director Guillermo del Toro teased that the two films are standalones that are part of... Read more

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Media Stocks on Upswing as Dow Tops 17K for First Time

July 3, 2014  |  Variety  |  No Comments

Major media congloms rode the enthusiasm on Wall Street Thursday as the Dow Jones Industrial Average topped 17,000 for the first time, propelled by a better-than-expected jobs report for June. The Dow passed the 17,000 benchmark within an hour after trading began Thursday after opening at 16,979. The latest report on employment from the Bureau... Read more

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Box Office: ‘Think Like a Man Too’ Dominating With $34 Million Opening

June 21, 2014  |  Variety  |  No Comments

Kevin Hart has struck box office gold once again. Hart’s “Think Like a Man 2” opened Stateside to $12.2 million on Friday and is on track to gross $34 million this weekend. The Sony/Screen Gem comedy edged out newcomer “Jersey Boys” and last weekend’s sparring sequels, “22 Jump Street” and “How to Train Your Dragon... Read more

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‘Sesame Street,’ ‘Ellen DeGeneres’ Lead Daytime Emmy Creative Arts Winners (FULL LIST)

June 21, 2014  |  Variety  |  No Comments

“Sesame Street” and “The Ellen DeGeneres Show” led the field on Friday in the Creative Arts portion of the 41st annual Daytime Emmy Awards. The PBS mainstay (pictured) grabbed six awards during the presentation of craft and technical awards at the Westin Bonaventure hotel in downtown L.A. “Ellen DeGeneres” took five trophies. “Sesame Street’s” wins... Read more

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’22 Jump Street’ Box Office Haul Shows Power of Female Crowds

June 15, 2014  |  Variety  |  No Comments

“22 Jump Street” was a broad comedy in the best way possible, playing equally well with males and females. The Jonah Hill and Channing Tatum vehicle burst onto the Father’s Day box office scene with a superb $60 million debut; a figure that was sliced up evenly between the genders. It’s another example of the... Read more

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Report: Univision Holds Potential Sale Talks With CBS, Time Warner

June 13, 2014  |  Variety  |  No Comments

Univision held preliminary talks with CBS and Time Warner over a potential sale, according to a report from the Wall Street Journal. The U.S.-based Spanish-language broadcaster is said to be seeking at least $20 billion for the sale. That’s far more than the $13.7 billion a group of investors led by Haim Saban paid for... Read more

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