As a cinephile with decades of experience in the industry, I can confidently say that the current state of streaming and moviegoing is nothing short of fascinating. The rise of the new “Big Four” in global streaming is a game-changer, and it’s intriguing to see how these giants are reshaping the 21st-century media business.
Examining the rise of the “Big Four” in streaming services and predicting the evolution of cinema experiences, particularly AMC Theatres, amidst a conversation about how strict regulations in Washington D.C. are hindering growth within Hollywood by limiting mergers and acquisitions.
In this special edition of “Strictly Business,” EbMaster‘s weekly podcast, some of the most talked-about subjects are covered. This episode highlights key points from EbMaster‘s annual Entertainment and Technology Summit, an event that took place on September 26 at the London Hotel in West Hollywood. The summit brings together industry leaders for discussions about the business aspects of media and entertainment.
As a cinema enthusiast myself, I found the closing panel of “Strictly Business,” moderated by Cynthia Littleton and Andrew Wallenstein, particularly engaging. The esteemed guests, Laura Martin, senior entertainment analyst at Needham & Company, and Hernan Lopez, founder of Owl & Co. consulting firm, shared their insights on the key topics that emerged throughout the day. It was a dynamic conversation filled with valuable insights from industry experts.
Martin swiftly highlighted the ongoing resistance from Washington, D.C., particularly regarding large media mergers or acquisitions of any scale, among regulators at the Federal Trade Commission, Federal Communications Commission, and Department of Justice. He suggested that if Vice President Kamala Harris were to win in November, Hollywood might continue experiencing similar obstacles.
Martin stated that things will remain as they are; no mergers will take place. The argument is that being large isn’t beneficial, as seen in the case of Amazon taking 14 months to acquire MGM for $10 billion, a relatively small asset considering Amazon’s $3 trillion market cap. This prolonged process and uncertainty makes mergers challenging, potentially leading to the demise of more traditional Hollywood companies. Martin further explained that Paramount and Fox, among others, are no longer independent enough to survive in today’s competitive landscape dominated by giants like YouTube and Amazon Prime.
https://omny.fm/shows/strictly-business/strictly-business-live-with-laura-martin-hernan-lo/embed
Lopez, a former Fox executive who subsequently established the Wondery podcast network, presented his perspective on the rise of a new quartet of dominant streaming platforms: Netflix, YouTube, Disney, and Amazon. He posited that in the 21st-century media landscape, companies with exclusive access to consumer behavior data will become increasingly central. This data trove represents the golden opportunity for businesses aiming to distribute content worldwide and provide targeted viewers to advertisers.
As a film enthusiast, I can tell you that it’s all about maximizing every interaction with each viewer and making the most of every moment spent engaging with them. It’s also about finding ways to extend those engagements without breaking the bank.
Among the major players, Amazon stands out due to its strong presence in online retail. Just like how the Amazon mother-ship functions effectively in discovering films and television series (excluding certain instances), it does so equally well when it comes to finding a new sweater or securing a bargain on multiple kitchen trash bags.
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In essence, when you look up any title, it’s often most easily found on Amazon compared to other platforms. This is due to their unique business model, which means that each time a customer interacts with Prime Video, they tend to spend more on Amazon. Essentially, this is a consumer market worth half a trillion dollars. So you can think of Prime Video as a powerful marketing tool for Amazon, one that could turn a profit independently in the near future.
The episode includes highlights from the summit’s one-on-one conversations with AMC Theatres CEO Adam Aron, Warner Bros. TV Group chairman Channing Dungey, D.C. Studios co-chairman and co-CEO Peter Safran and Tim O’Brien, chief revenue officer for mobile gaming firm Scopely. Multihyphenate podcast hosts Whitney Cummings, Lamorne Morris and Iliza Schlesinger close it out by discussing the harsh financial realities of being a touring comedian these days and the importance of maintaining authenticity behind the mic.
Each week, I tune into “Strictly Business,” a podcast by EbMaster that offers insightful discussions with industry titans in the realm of media and entertainment. If you’re interested, don’t forget to subscribe to our free newsletter. New episodes air every Wednesday, and they can be easily downloaded from platforms like Apple Podcasts, Amazon Music, Spotify, Google Play, SoundCloud, and many more.
The individuals in the photograph are: Andrew Wallenstein (from EbMaster VIP), Laura Martin (of Needham and Company), Hernan Lopez (from Owl & Co.), and Cynthia Littleton (also from EbMaster).
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2024-09-28 22:48