Massachusetts-based editing software and services company Avid Technology has entered into an agreement with an affiliate of private equity firm STG for an all-cash transaction valued at approximately $1.4 billion, including Avid’s net debt. Unanimously approved by Avid’s board of directors, the deal is expected to close during the fourth quarter of 2023. Upon completion, Avid will become a privately-held company and its stock will no longer be traded on the Nasdaq exchange. The transaction, which will be financed through equity and debt financing, is subject to Avid stockholder and regulatory approvals. Continue reading Private Equity Firm STG Plans to Acquire Avid for $1.4 Billion

The Entertainment Technology Center@USC has released the third installment of its case study, “Fathead: Virtual Production & Beyond.” Section 3 of the four-part white paper is “State of the Industry: Beyond Trends,” which discusses “where we’re at, and where we’re going” and features compelling interviews with thought leaders from companies including The Third Floor, Stargate Studios, Orbital Virtual Studios, Vū Technologies, Lux Machina, nDisplay, Epic Games and Unity Technologies. Click here to access Section 3 and we’ll post announcements when the final section — “Fathead: A Proof-of-Concept Short Film” — becomes available. Continue reading ETC Releases Section 3 of Its Virtual Production White Paper

Epic Games is releasing MetaHuman Animator, which lets developers create nuanced facial animation by capturing an actor’s performance using an iPhone or stereo head-mounted camera system and a PC. The system eliminates the need for manual touch-ups, according to Epic, capturing “every subtle expression, look, and emotion” and replicating it onto a digital character for a faster performance capture workflow that allows more creative control. The new feature set uses a 4D solver to combine video and depth data with a MetaHuman representation of the performer. The animation is produced locally using GPU hardware, providing final results in “minutes.” Continue reading New Tool from Epic Simplifies High-Fidelity Facial Animation

Netflix says it will preemptively purge its UK library of films and TV shows that run afoul of new streamer regulations being implemented by the British government. UK ministers are calling on media regulator Ofcom to police streaming content as it does traditional broadcasters, which means video-on-demand platforms including Netflix and Amazon Prime Video could face fines of up to $310,000 per instance for hosting “harmful material.” Draft legislation that seeks to codify “due impartiality” for streamers as part of the proposed Media Bill were rebuked by Netflix as “nebulous” and potentially “onerous.” Continue reading Netflix Threatens to Purge Content to Avoid UK Streamer Bill

MoviePass, the movie theater ticketing platform, segued from its beta test and waitlisting to nationwide availability ahead of Memorial Day weekend. The company, which is relaunching under new ownership following a bankruptcy, is offering subscription plans starting with Basic at $10 per month for 1-3 movies, up to the Pro plan for $40 per month for as many as 30 films. There’s also a 3-7 Standard plan for $20, and a 5-11 movie Premium package for $30. MoviePass says it has more than 4,000 participating theater locations — including those from the AMC Theatres, Cinemark and Regal Cinemas chains. Continue reading MoviePass Goes Live Again with 4,000 Participating Theaters

Netflix has decided to focus on fewer, but higher quality, originals, and has restructured its film group to accommodate the change. Fifteen-year Netflix veteran Lisa Nishimura, who oversaw low-budget features and original documentaries is exiting, along with film group VP Ian Bricke, who logged more than 10 years at the company. Live-action films will now be the purview of a trio of execs: Kira Goldberg, Ori Marmur and Niija Kuykendall. Goldberg and Marmur, who joined Netflix in 2021, were tasked with developing high-end commercial projects. Kuykendall, who joined later that year from Warner Bros., was assigned mid-budget films. Continue reading Netflix Restructures Film Units, Cuts Back on Original Content

Apple plans to spend $1 billion a year on theatrical release films, according to Bloomberg, which say the move is “part of an ambitious effort to raise its profile in Hollywood and lure subscribers to its streaming service.” The films will reportedly play in theaters for at least one month before debuting on Apple TV+. Martin Scorsese’s crime drama “Killers of the Flower Moon,” starring Leonardo DiCaprio, and Ridley Scott’s historical drama “Napoleon,” are among the Apple-funded projects expected to be released in “thousands of theaters,” though Apple still hasn’t finalized distribution arrangements. Continue reading Apple Reportedly Allocates $1 Billion for Theatrical Releases

Netflix has cut prices in 30 countries — the U.S. not among them — as customers reevaluate whether they keep the service amidst new password-sharing restrictions in a more competitive streaming market that has generally seen rates increase. The reductions only apply to some tiers, in some cases reducing prices by as much as 50 percent. Affected territories reportedly include Nicaragua, Ecuador and Venezuela in Latin America. In Europe, rate reductions will be available in Bulgaria, Croatia and Slovenia. Parts of Asia — including Indonesia, Malaysia, the Phillippines and Thailand — will also see price reductions. Continue reading Netflix Reduces Its Pricing in 30+ Countries but Not the U.S.

A group of film companies are seeking to have Reddit divulge information about users who reportedly promote piracy on its platform. The move is part of a 2021 lawsuit that lists Bodyguard Productions, Millennium Media and others as plaintiffs against the Internet provider then known as RCN, subsequently rebranded Astound, filed in U.S. District Court in New Jersey. The complaint alleges 34 copyrighted films — including “Hellboy” and “The Hitman’s Bodyguard” — were illegally downloaded while RCN turned a blind eye. The producers subpoenaed Reddit for information on nine individuals, including name, IP address and user logs from 2016 to present. Continue reading Film Companies Seeking Info on Reddit Users in Piracy Battle

The short film “Fathead,” produced by the Entertainment Technology Center@USC and shot at the new Amazon Stage in Culver City as an experiment in virtual production and collaborative, cloud-based workflows, has been nominated for a 54th NAACP Image Award in the Outstanding Short Film (Live Action) category. The Image Awards celebrate outstanding achievements and performances in the arts from an African American point of view, and recognize those who promote social justice through their creative pursuits. This year’s awards will air live on February 25 at 8:00 p.m. on BET and various ViacomCBS networks. “Fathead” was directed by c. Craig Patterson and produced by Erik Weaver, ETC’s director of adaptive production. Continue reading ETC Short Film ‘Fathead’ Is Nominee for NAACP Image Award

Last year we told you about VideowindoW, a high resolution clear-glass display that transforms windows, including the entire glass curtain of a skyscraper, into a black and white video screen. This year at CES, Superimaging Display showcased a proof-of-concept demo of a simpler approach to transparent window displays. The company has developed a thin film embedded with nanophosphors that display visible RGB images when excited by ultraviolet light from a DLP projector. The thin film can be attached to any glass surface, and the image is visible but translucent in daylight. Continue reading CES: Superimaging Creates New Clear Window Display Tech

Disney Research Studios has created an AI tool that can make actors look older or younger more simply than the costly and time-consuming visual effects that are the current status quo. While artificial intelligence had been used to age or de-age people with relative success in still frames, the results lacked photorealism when applied to video. Disney calls its app FRAN, for Face Re-Aging Network. FRAN has been trained to identify the parts of a face that change with age and can either accentuate or erase the telltale signs. Continue reading Disney Invents High-Quality Tool to Rejuvenate or Age Actors

Alphabet’s AI offshoot DeepMind has created an AI tool called Dramatron that can help co-write scripts, generating things like plot points, character and location descriptions and dialogue. While a human will still need to manage the process by editing and rewriting Dramatron’s suggestions, the app is designed to make the screenwriting process faster and easier. To deploy Dramatron, users will need an OpenAI API key and, ideally, a Perspective API key to minimize the risk of “offensive text.” In addition to AI researchers, DeepMind tested the tool with 15 playwrights and screenwriters who used it to co-write scripts. Continue reading DeepMind Tool Provides AI-Powered Screenplay Assistance

The streaming wars are spurring a content surge that is driving a demand for production space. The latest beneficiary of that is Television Center, a six-acre Art Deco complex on Romaine Street in Hollywood. The former home of the Technicolor Hollywood film lab is being remade as Echelon at Television Center in a $600-million makeover courtesy of Bardas Investment Group and Bain Capital Real Estate. Plans are underway for a complex of offices and a 620,000-square-foot studio with four soundstages and underground parking for more than 1,000 cars, spanning two city blocks. This is one of several production facilities in the planning stages. Continue reading Streaming Drives Massive Hollywood Soundstage Expansion

Disney+ outperformed its subscriber goals, helping The Walt Disney Company to 23 percent revenue growth in its fiscal second quarter, ended April 2. “Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services — with 7.9 million Disney+ subscribers added in the quarter and total subscriptions across all our DTC offerings exceeding 205 million — once again proved that we are in a league of our own,” Disney CEO Bob Chapek summarized for investors. Disney+ now reaches 137.7 million subscribers. Continue reading Disney Reports Strong Revenue and Subscriber Growth for Q2