Promise is a new entertainment studio launched around the potential of generative AI. The Los Angeles-based startup is developing a multiyear slate of films, TV shows and media in “new formats.” With funding led by Peter Chernin’s North Road Company and Andreessen Horowitz, Promise vows to set “a new standard for high-quality storytelling enabled by AI.” The firm is also working on new tools to optimize the generative workflow. The first product, MUSE, “integrates the latest GenAI technology throughout the creative process in a streamlined, collaborative, and secure production environment.” Continue reading Promise Is an Entertainment Studio Built Around Generative AI

After more than a decade, Apple has released Final Cut Pro 11, its first major update to the non-linear editing app. New features include AI-powered masking, spatial video editing for projects destined for the Apple Vision Pro and the ability to generate captions directly in the timeline, as well as some general workflow improvements. Final Cut Pro 11 is free for current users while newbies will pay $299 for a one-time purchase. Improvements have also been made to Final Cut Pro for iPad and Final Cut Camera, adding new creative options across Mac, iPad and iPhone. Continue reading Apple Final Cut Pro 11 Adds AI Features Powered by M Chips

The Walt Disney Company’s revenue rose to $91.4 billion for its fiscal year 2024, which ended September 28, a 2.8 percent increase from 2023. For the fourth quarter, revenue rose 6 percent to $22.6 billion, in line with analysts’ expectations. Company-wide, net profit climbed 74 percent in Q4, to $460 million, thanks largely to the strength of the streaming and theatrical film units. Improvements in the Disney+, Hulu and ESPN+ businesses marked the streaming sector’s second consecutive quarterly profit. Net profit for the year was a tick under $5 billion, up a whopping 111 percent from 2023. The results sent Disney shares up 6.2 percent on Thursday. Continue reading Disney Ends Fiscal Q4 Strong Thanks to Movies and Streaming

Netflix wants to make viewing a more memorable and interactive experience with Moments, a new mobile feature that makes it easy to save, relive and share favorite scenes from movies and series. Launching globally on iOS and coming soon to Android, Moments not only allows you to revisit pivotal plot points, but also lets you restart the film or episode right from that bookmark. Sharing Moments on Instagram, Facebook and other social platforms is reportedly just as easy. You can share a Moment as you create it or, from the My Netflix tab, you can select a scene and tap to share it across all of your platforms. Continue reading Netflix Enables Bookmarking, Sharing of Scenes with Moments

Amazon has launched a new Fire TV Stick HD, supplanting the Fire TV Stick and Fire TV Stick Lite as its entry level television device. Priced at $34.99 the black stick plugs into the HDMI port at the back or side of most TVs. A micro USB cable and power plug are included. The Fire TV Stick HD streams at up to 1080p HD and also supports HDR, HDR 10, HDR10+ and HLG. While the new device does not feature support for Dolby Vision or Dolby Atmos, its HDMI port will support Dolby-encoded audio. The platform streamlines access to all major streaming services, which of course require independent subscriptions. Continue reading Amazon’s Entry Level Fire Stick HD Adds Alexa Voice Control

Streaming media giant Netflix continues to post strong revenue growth, with a 15 percent increase to $9.83 billion in Q3, year-over-year. Net income hit $2.36 billion, a 41 percent increase over the same period last year, though the company is forecasting a Q4 dip, to $1.85 billion. Operating margin was up 30 percent (versus 22 percent during the same period last year). Ad-tier memberships increased by 35 percent for the quarter. Overall, global streaming paid subscriptions are up 14.4 percent in the third quarter, for a total of 282.72 million. Continue reading Netflix Q3 Is ‘Most Profitable’ Quarter Ever, Up by 41 Percent

Acting in advance of a California law that goes into effect on January 1, cloud gaming platform Steam has begun posting a notice that its customers are purchasing a license, not a product. The language that appears in the Steam shopping cart now includes the advisory that “purchase of a digital product grants a license for the product on Steam.” Signed into law last month, California’s AB 2426 is categorized a consumer protection law against false advertising for digital goods. Specifically, it requires online sellers provide a “conspicuous” advisory that licenses are limited in duration and can be revoked. Continue reading Steam Preemptively Adds License-Only Terms to Online Store

Apple TV+ will be available as a $9.99 monthly add-on with Amazon Prime Video in the U.S., allowing users to use the service in one app with a single bill, the companies announced. The deal has the mutual upside of adding the cachet of award-winning Apple originals like “The Morning Show” and “Ted Lasso” to Amazon Prime, while getting Apple TV+ in front of Prime’s more than 100 million U.S. households. Apple doesn’t release specific subscriber numbers for Apple TV+, which has reportedly accrued about 25 million paid global subscribers since its 2019 launch. Continue reading Apple TV+ to Be Available as an Amazon Prime Video Add-On

California’s “click to cancel” bill has become law, making it easier for consumers to cancel subscriptions. Companies that offer online or in-app sign-ups will now have to make canceling or unsubscribing available online or in-app as well. Assembly Bill 2863 was signed into law this week by Governor Gavin Newsom, though companies have until the middle of next year to comply. Consumers have long complained about companies making it easy to sign up but difficult to cancel services. This law ensures consumers can easily exit from services “without being trapped by confusing processes or hidden fees.” Continue reading California Enacts Laws for Sub Canceling, Digital Downloads

Eight of the largest cinema chains in the U.S. and Canada have committed to investing more than $2.2 billion to modernize theaters over the next three years. The announcement was made by the National Association of Theatre Owners (NATO), which says the eight investors represent over 21,000 screens and 67 percent of the box office. The funds will be used to improve everything from picture and sound to air quality, dining, concessions and additional entertainment options. “This investment reflects that commitment in a tangible way that every moviegoer will see and enjoy,” said NATO President and CEO Michael O’Leary. Continue reading North American Theaters Announce Plans for Major Upgrades

Amazon will become the newest member of the Motion Picture Association (MPA), a move that is likely to have significant ramifications as the e-commerce giant throws its weight behind the global entertainment trade and lobbying organization. As the parent of both the Prime Video streaming service and MGM Studios, as well as the force behind Amazon Web Services, the company has clout across both entertainment and technology at a level that is unparalleled among MPA principals. At $2 trillion, it becomes the largest MPA member by market cap. Netflix, which joined in 2019, is capped at $300 billion. Continue reading Amazon MGM Studios and Prime Video Latest to Join the MPA

A new study by Roku and National Research Group found that streaming may be a more effective marketing tool for theatrical exhibition than social media or television. According to the research, 44 percent of what the survey categorizes as “moviegoing streamers” claim a trailer on a streaming service would increase their interest in seeing a film in a theater while 43 percent indicate the same of trailers on social media. These numbers slightly edged out the 41 percent who say ads on broadcast or cable TV would encourage them to visit a theater. However, it’s worth noting that the survey also suggests 72 percent pay more attention to TV commercials than ads on social platforms. Continue reading Roku and NRG Study Finds Streaming Benefits Theater-Going

Los Angeles-based production company Pressman Film is turning to crowdfunding to finance its latest slate. The indie studio behind films including “American Psycho,” “Wall Street” and “The Crow” is targeting $1.5 million in the first tranche, hosted by investment firm Republic. As the movie industry continues to regain its footing following the impact of COVID-19 and the Hollywood strikes, companies continue to seek innovative ways to move forward. “Get in on the ground floor of the filmmaking process, get exclusive insider perks, and share in the returns,” explains Republic’s website. Minimum buy-in is $200. Continue reading Pressman Film Joins Republic on Crowdfunding Capital Raise

Gracenote, the Nielsen content solutions division, has launched Gracenote Watch Prompts, an AI-powered dataset that equips global video platforms and services with programming facts intended to help influence consumer viewing behavior. Designed to be paired with user preference and consumption data, the new Watch Prompts aim at delivering personalized film and TV promotion, resulting in increased tune-in. According to Nielsen, 74 percent of U.S. consumers last year either didn’t know or only had a vague idea as to what they wanted to watch when starting a streaming session, “meaning a large majority are making on-the-fly viewing decisions.” Continue reading Gracenote Watch Prompts Aim to Help Streaming TV Viewers

TikTok has published an internal research study indicating the movie viewing habits of its users, and how advertisers can use the TikTok Spotlight movie marketing tool released last month. The promotional vehicle was designed to help TikTok users discover films, as well as influence their viewing choices and drive audiences to theaters. TikTok’s research found that 47 percent of TikTok users say that while on TikTok they discovered a new movie coming to theaters, and were “inspired to take action, including 36 percent purchasing a ticket,” which they can facilitate in-app through Spotlight. Continue reading Film Promotion Tool TikTok Spotlight Shares Audience Insight