Netflix co-CEO Ted Sarandos cut the ribbon on a major expansion of Netflix Studios Albuquerque and said the facility has racked up nearly $900 million in total investment in New Mexico production since 2019. The company launched the hub in 2018, marking its first purchase of a production studio complex. This one included eight sound stages on 28 acres with productions that included The Avengers, Breaking Bad, and Sicario. It’s the only complex Netflix owns outside one currently being developed in Fort Monm ...

Disney’s efforts to have an antitrust class action from streaming subscribers dismissed has been denied one more time, but the company will now not be on the hook for any cash. “The Court once again finds Plaintiffs’ allegations sufficient to plead Disney’s market power in a well-defined SLPTV market in the United States,” wrote U.S. District Judge Edward J. Davila today in a complex and mixed bag ruling for the Mouse House (read the order here). Back in November 2022, YouTube subscribers in a quartet of s ...

A virtual hearing set this morning in LA Superior Court could result in a black eye for the Walt Disney Company and its five-year battle against what is now a sprawling pay equity class action suit. Less than a year before an estimated trial start, Monday’s recently began session finds lawyers for Disney Studios staffers LaRonda Rasmussen and Karen Moore facing off with Mouse House attorneys from Paul Hastings LLP over accusations that once again the Bob Iger-led company has been refusing to hand over requ ...

IATSE is continuing its push to unionize visual effects workers, this time setting its sights on Apple Studios. The guild announced Friday that it has filed for a National Labor Relations Board election after a supermajority of the 17 employees across six Apple series have signed authorization cards. They have also already asked management at Apple Studios to voluntarily recognize their VFX workers’ union. Deadline has reached out to the studio for comment. The employees under the proposed bargaining unit ...

The Mouse House’s now abandoned Sunshine State relocation for staffers has turned into some pretty dark legal skies. Over a year after the once again Bob Iger run Disney dropped its Bob Chapek-era initiative to consolidate some California operations and employees in a new campus in Orlando’s Lake Nona area, a current VP of Product Design and a director of Product Design are taking the company to court in a potential class action. “As a result of relying on the statements relating to the Lake Nona project, ...

Company Overview - AMC Networks' shares fell over 35% following the announcement of a private offering of $125 million in convertible senior notes due in 2029, along with additional notes for up to $18.75 million [1] - The company plans to use the net proceeds for general corporate purposes, which may include debt repayment [1] - The stock closed at $10.19, marking a significant decline on a day when broader markets were rising [1] Financial Performance - AMC Networks has experienced a revenue decline over the past two quarters, primarily due to advertising challenges linked to a slump in linear ratings [2] - Despite the overall revenue dip, streaming services were cash flow-positive in the last quarter [2] Strategic Positioning - The company emphasizes its nimbleness and independence, which allows it to capitalize on opportunities not available to larger, vertically integrated programmers [2] - AMC Networks' assets include several cable networks, film distribution companies, and a variety of streaming services, showcasing its diverse portfolio [2] Industry Challenges - The company, like others in the entertainment sector, faced significant impacts from the recent strike [3] - Upcoming content, such as the spinoff "Orphan Black: Echoes," is set to premiere on multiple platforms, indicating ongoing content development despite challenges [3]

Surrendering to pressure from several music acts and an ad-hoc movement, Barclays has suspended its sponsorship of all 2024 music festivals organized by Live Nation in the UK. The festivals now without Barclays backing include such popular events such as Download, Latitude, and the Isle of Wight Festival, according to Business Matters. Barclay’s decision was made after several artists complained about the financial firm’s investment ties with arms companies that trade with Israel. Country artist CMAT, me ...

Group 1: Apple TV+ Developments - Apple TV+ is approaching its fifth anniversary on November 1, with CEO Tim Cook highlighting the platform during the WWDC presentation [1] - The company is set to launch an exciting lineup of new original content, with new films and series arriving weekly [1] - Upcoming shows include new seasons of "Severance," "Pachinko," "Slow Horses," and "Silo," along with new series "Presumed Innocent" and "Dark Matter" [1] Group 2: AI Features and Product Announcements - Apple introduced a set of new AI features for its devices and cloud services, marking a significant upgrade for Siri, the personal voice assistant [2] - The company announced a new version of its operating system for the Vision Pro, its "spatial computing" headset [2] - Additional product announcements were made during the ongoing presentation at WWDC [2]

Core Points - Disney and Florida Governor Ron DeSantis are negotiating a new development agreement that could lead to up to $17 billion in investment from Disney over the next 10 to 20 years, including plans for a fifth park near Orlando [1] - The new agreement includes a minimum initial capital investment of $8 billion within the first ten years, focusing on infrastructure, new construction, and technology [2] - Disney is also committed to developing at least five major theme parks in Orlando and may convert hotel land use for additional office space, potentially relocating 2,000 staff from California [2] Group 1 - The new agreement will replace a previous 30-year development deal and requires a final vote to become official [3] - Disney has recently secured a similar agreement with Anaheim for Disneyland, allowing for mixed-use environments and new zoning permissions [3] - The company has announced a $60 billion investment commitment for its parks worldwide over the next 10 years, although specific details remain limited [3] Group 2 - Competition from Universal Studios, particularly with the upcoming $1 billion Epic Universe expansion, is influencing Disney's strategic decisions [4] - Disney CEO Bob Iger acknowledged awareness of Universal's plans and emphasized a strategic approach to capital deployment [4] - The Experiences division reported a 10% revenue increase to $8.4 billion, with operating profit rising 12% to nearly $2.3 billion in the latest quarter [4] Group 3 - International parks, especially Hong Kong Disneyland, contributed to revenue growth, while Disneyland faced challenges due to higher costs despite increased attendance [5] - The company anticipates flat growth in parks for the current fiscal third quarter, citing normalization of post-COVID demand and evidence of global moderation in travel [6]

Netflix, which has spent the past three years pushing into video games, has announced 14 new game titles soon to join the slate. Tales of the Shire: A The Lord of the Rings Game will be an exclusive mobile title for Netflix subscribers. Mobile is currently the dominant way to experience games on Netflix, though the company last year said it had rolled out a beta version of a cloud gaming platform for a select number of UK and Canada subscribers. The cloud system, which enables gaming on computers and conne ...