This is May 31, 2022, the publication of the Entertainment Wide Shot newsletter. If you have already sent this, sign up to receive in your email by clicking here. The creators of movies and TV shows have known since Apple and Amazon built their toes into the film and television industry that these companies, with their huge influence and sources, could dominate Hollywood if they want.
Apple became the first streaming company to win Best Picture Oscar with $ 25-million worth of “CODA.” Amazon bought MGM for $ 8.5 billion, adding to existing film and TV services. These are not small exercises. But, so far, the adoption of the technology of the sports business has been surprisingly balanced. Apple is releasing a dozen or so original films a year, which is less than what Lionsgate had distributed in the theater prior to the pandemic. MGM gives Amazon a substantial film and TV library, but merely some terms of the new franchises. The MGM share of the indoor box office in 2019 and 2021 is about 2% and 7%, respectively, according to data from Figures.
Amazon Prime Prime video accounted for 2.5% of US TV viewing in April, compared with 6.6% for Netflix, according to Nielsen data. The measurement company with Apple TV + has “other streaming” because the service is less than 1% of viewing. This does not indicate a lack of success. It just might be the nature of the process of technology companies. Early success can create high sugar which leads companies to grow very fast. But the likes of Apple Chief Executive Tim Cook and former Amazon Chief Jeff Bezos (succeeded by Andy Jassy) have opposed siren music that has hit the streets like AT&T and AOL.
Netflix’s recent scandals have highlighted the risks of growing as fast as possible, and there is widespread concern that budgets across the market will be shut down. More and more traditional media outlets are choosing, as evidenced by reports from Warner Bros. Discovery is reviewing its $ 250-million contract with manufacturing company JJ Abrams Bad Robot. If the prospects for tech titans will become the new blank slate for Hollywood, should be disappointing.
Stephen Galloway, a graduate student at Chapman University of Dodge School of Film and Media Arts, said: “The outsiders are almost always asleep, and I think these tech people is smart enough to know that. “We are looking for unlimited financial offers from the outside. But money is not infinite, as they know it. ”