At the end of Q1 2020, Netflix added 15.8 million new subscribers, more than double the company forecast. The growth spiked in March when people began to be confined due to the coronavirus pandemic, and Netflix stated that viewing and membership growth will decline when those circumstances end. As chief executive Reed Hastings put it, “We, too, are really unsure of what the future brings.” The company is still adding to its stock of original programs, buying the rights to a period piece set in the world of Sherlock Holmes. Continue reading Netflix Adds About 16 Million New Subscribers, New Content

Alibaba Pictures Group and Dalian Wanda Group have been spending big to acquire Hollywood companies, in their quest to make homegrown movies and capture a bigger portion of that nation’s huge box office. Now, Tencent Pictures, the film unit of China’s biggest Internet company, has joined that fraternity, with chief executive officer Edward Cheng saying acquisition targets could be in Hollywood and include creative and/or production companies. China’s box office is projected to reach $10.4 billion in 2017. Continue reading China’s Tencent Pictures Seeking New Hollywood Acquisitions

Steven Spielberg’s Amblin Entertainment just inked a deal with Chinese e-commerce company Alibaba Group to produce, finance and distribute movies. The relationship gives Alibaba an entrée into the Hollywood moviemaking industry, and Amblin a pipeline to distribution in China. Although the financial details of the deal were not disclosed, Alibaba will now have a minority equity stake in Amblin and a seat on its board, and Amblin will have access to the Chinese company’s massive database on consumers there. Continue reading Amblin and Alibaba Ink Mutually Beneficial Moviemaking Deal

Wanda Cinema Line Corporation partnered with Dolby Laboratories to open 100 Dolby Cinema locations in China in the next five years. The first location — as of now unnamed — will open this spring. Dolby Labs combined its Dolby Vision and Dolby Atmos to create what it calls a “premium cinema offering for exhibitors and moviegoers that combines spectacular image and sound technologies with inspired design.” Wanda will be the first cinema chain in China to install Dolby Cinema theaters. Continue reading Wanda Cinemas Plans to Launch 100 Dolby Cinemas in China

Chinese conglomerate Dalian Wanda Group paid $3.5 billion in cash to purchase Legendary Entertainment, one of Hollywood’s largest independent movie companies, making it the largest such deal between Hollywood and China. Dalian Wanda’s other Hollywood holdings include AMC Entertainment, the second largest cinema chain in the U.S. The company, which got its start in real estate, also owns theaters and produces movies in China. Legendary has co-financed numerous movies, produced its own and has TV and digital divisions. Continue reading Chinese Company Buys Legendary Entertainment for $3.5B

Gaming company Activision Blizzard is creating an internal film/TV studio, headed by former Walt Disney Company executive Nick van Dyk, to produce content based on its 1,000-title library. The first production is animated TV series “Skylanders Academy,” based on the “Skylanders” game that’s earned $3+ billion since its 2011 launch. The first film is likely to be based on “Call of Duty.” This move comes on the heels of Activision’s stated intent to acquire King Digital Entertainment, creator of “Candy Crush,” for $5.9 billion. Continue reading Activision to Open Film/TV Studio to Repurpose Game Library

Oculus chief executive Palmer Luckey and Facebook chief executive Mark Zuckerberg are “ground zero” for the 3D immersive technology, but the big-name fan base is growing, including SpaceX/Tesla chief executive Elon Musk and Facebook board member Mark Andreessen, who not long ago was skeptical about funding a virtual reality company. What they all believe is that VR will be a truly paradigm-shifting technology that will connect everyone in the world, for a growing range of activities from video games to business meetings. Continue reading Tech Leaders Envision a Globally Connected Future with VR

United Talent Agency has developed a measurement tool to track and rank movies based on the social media buzz they accrue in the 365 days up until the film’s release date. Using data provided by Twitter, UTA determines and assigns a ranking for every move on a scale of 1-100. For 2014, UTA observed a pattern by which higher ranked movies outperformed lower ranked movies at the box office. The correlation between a movie’s social media numbers and box office performance however, does not imply causation. Continue reading CES: UTA Talks the Importance of Social Data in Hollywood