House committee on financial services

With advertising trends front and center for Wall Street and industry players in the current crop of media earnings , Comcast’s NBC Universal was one of the first to weigh in. NBCU CEO Jeff Shell said the market steadily  worsened over the course of last year but “it kind of feels like it bottomed out around late November, early December, and really since then it hasn’t gotten worse, and maybe even a little better.” He said he’d describe it as a “shallow” market with areas “that are better, actually really doing well, like pharma, entertainment, travel is on fire” and other that “feel uncertain” like weak tech, auto and financial services. Speaking on a post-earnings conference call, he said it feels like the weakness is due more to macroeconomic uncertainty than to businesses not doing well. “None of us know where the economy is headed, so advertisers are holding back, and when they do advertise, they are coming in later than usual. He predicted the market “is … [Read more...] about NBCU’s Jeff Shell Says Ad Market May Have “Bottomed Out”

Rep. Adam Schiff (D-CA) has entered the race for U.S. Senate in what looks to be a hotly contested intra-party battle in California in anticipation that Sen. Dianne Feinstein (D-CA) won’t run for another term. “Our democracy is at great risk. Because GOP leaders care more about power than anything else,” Schiff said in a Twitter post. “And because our economy isn’t working for millions of hard working Americans.” Schiff joins Rep. Katie Porter (D-CA) in the race, with Rep. Barbara Lee (D-CA) also planning to run. Feinstein has not said what her plans are, but there is expectation that she will not be in the race. All the candidates are expected to heavily court Hollywood donors, tapping longtime connections from their congressional campaigns. Schiff, whose district covers areas of Burbank, Hollywood and West Hollywood, has gained a national platform for his role on the January 6th Committee and on the House Intelligence Committee during investigations of Donald … [Read more...] about Adam Schiff Enters Race For U.S. Senate

Executives at NBCUniversal and Comcast took the stage at Studio 8H at Rockefeller Center on Thursday and offered their first financial projections for streaming service Peacock during an investor presentation. Four years after it launches, first to some Comcast subscribers in April and then nationally by July, the service will be bringing in $2.5 billion in revenue and breaking even. There will be 30 million to 35 million “active users” by that point, the company said. “We are creating the equivalent of a 21 st century broadcast business, delivered on the internet,” NBCU chairman Steve Burke said. While cord-cutting is a reality, counting on-demand and digital viewing, he continued, “More people are watching more video today than ever.” Peacock Investors Day: Deadline’s Complete Coverage While subscriptions ranging from $5 a month to $10 a month will be sold to non-Comcast subscribers, the company is counting on advertising revenue being a mainstay … [Read more...] about NBCUniversal Expects $2.5B In Peacock Revenue, Break-Even By 2024

Streaming service Peacock closed 2022 with more than 20 million paid subscribers, helping Comcast slip past Wall Street estimates during a challenging fourth quarter in the media business. Total revenue came in at $30.55 billion in the period, less than 1% ahead of the prior-year quarter but just above analysts’ consensus. Earnings per share of 70 cents fell short of estimates, but exceeded them on a non-GAAP basis. Along with Peacock, a strong return for theme parks helped NBCUniversal post solid numbers on the top line, with revenue up 6% to $9.9 billion. Advertising revenue increased 4%, which the company credited to Spanish-language coverage of the World Cup by Telemundo and rising Peacock ad revenue. The profit story was less encouraging, with adjusted EBITDA falling 36% to $817 Theatrical revenue at the film studio soared 47% over the prior year, with Ticket to Paradise , Puss , Violent Night and Halloween Ends closing the year on a high note. … [Read more...] about Peacock Clears 20M Subscribers, Helping Comcast Nip Wall Street Q4 Estimates

Kevin Fortson, the Executive Vice President of Production & Administration for Warner Bros . Unscripted Television, will retire this summer after three decades with the studio. “For the past 30 years, Kevin has been an indelible part of Warner Bros,” said Mike Darnell , President, Warner Bros. Unscripted Television. “His name has literally become synonymous with the company and the lot itself. Personally, I will miss him for his counsel, his friendship and his endless string of dad jokes. He truly is one in a million … although he would probably try to cut that budget down! He is as important to the studio as any movie or television show ever produced here, and if I had the power to do it, there would be a stage with his name on it, right next to Friends and The Big Bang Theory. He is known as the unofficial Mayor of the lot, and his constituents will miss him dearly… and no one will ever be re-elected to that position.” Fortson has been leading all aspects of … [Read more...] about Unscripted TV Exec Kevin Fortson To Retire After 30 Years With Warner Bros.

UPDATED with final winners: The Oscar-winning documentary Summer of Soul , Bo Burnham’s Emmy-winning musical comedy special Inside , Barry Jenkins’ The Underground Railroad and Raoul Peck’s Exterminate All the Brutes are among the final list of winners of 2022 Peabody Awards . The Peabodys, in their 82nd year, honor the year’s most powerful content across the fields of entertainment, documentary, news, podcast/radio, arts, children’s and youth, and public service programming. The organization based at the Grady School of Journalism at the University of Georgia wrapped up a a weeklong rollout of all 30 winners Thursday. This year’s awards were presented by the likes of Melissa McCarthy, Morgan Freeman, John Legend, Kevin Bacon, H.E.R., Ethan Hawke, Jon Stewart, Hasan Minhaj, Riz Ahmed, LeVar Burton, Jenny Slate, Malcolm Gladwell and Adam Scott. Newsman Dan Rather and Fresh Air ‘s Terry Gross have already won this year’s Career Achievement Award and … [Read more...] about Peabody Awards: The Complete List Of 2022 Winners

EXCLUSIVE: Kurt Wimmer’s redo of Stephen King ’s Children of the Corn has been picked up by RLJE Films and AMC network’s horror streaming service Shudder . The movie will hit theaters on March 3 in an 18 day theatrical window before hitting demand and digital on March 21. Based upon the short story by the horror author, and adapted by Wimmer, Children of the Corn follows a 12 year old girl in Nebraska who is possessed by a spirit in a dying cornfield. She recruits the other children in her small town to go on a bloody rampage and kill all the adults and anyone else who opposes her. A bright high schooler who won’t go along with the plan is the town’s only hope of survival. Pic stars Elena Kampouris ( Before I Fall ), Kate Moyer ( Station Eleven ), Callan Mulvey ( The Gray Man ) and Bruce Spence ( The Road Warrior ). “We’re thrilled to work with Kurt Wimmer and bring his vision of this classic Stephen King story to new audiences,” said Mark Ward, Chief … [Read more...] about Stephen King ‘Children Of The Corn’ Remake Acquired By RLJE & Shudder