Posts Tagged ‘street’

China Clamps Down on Foreign TV Streaming

September 12, 2014  |  Media Week  |  No Comments

China is reportedly getting ready to regulate the number of foreign television programs that online providers can stream in its country, The Wall Street Journal reported . The move means even fewer U.S. programs will make it onto the Chinese viewing menu. As of today, about half the content on popular Chinese streaming services comes from outside the country. But that all will change as the country limits foreign, streamed TV shows to 30 percent. (The Journal said it's unclear if that figure refers to the number of TV shows or episodes.) The U.S. shows that stand to lose are Netflix's wildly popular House of Cards and Warner Brother’s 2 Broke Girls. House of Cards, which is distributed by Sohu, one of the country’s largest video streaming services, reportedly attract millions of viewers a day despite its edgy storylines that criticize China. But popularity doesn’t necessarily mean you’ll stay on the air. In April, the country’s regulators yanked NCIS, The Practice, The Good Wife and The Big Bang Theory off Chinese video streaming services without giving a reason. The Big Bang Theory was reportedly pulling in 120 million viewers a month. The sudden blackout of popular U.S. shows is seen as an example of Chinese leaders keeping a tight grip on foreign media to counter the U.S.'s soft power and shore up China's own television industry. Last year, Chinese censors withheld box office receipts while negotiating a rise in tariffs on Western importers. Now, Chinese leaders want to become not only international exporters of finished goods but also dramas and soap operas, which amount to about 10,000 episodes a year

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Netflix Stock Hits New High on Rosy Analyst View

September 9, 2014  |  Variety  |  No Comments

Netflix bulls took the company’s stock by the horns, with shares climbing 2% to a record high of $489.29 per share in midday trading, after a Wall Street analyst said investors have underestimated its future potential financial performance. In a research note, RBC Capital Markets analyst Mark Mahaney raised his price target on Netflix from $530 to... Read more

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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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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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