Mornin! This is Sean McNulty (connect here on LINKED-IN if ya like) and here’s the Hollywood + Media news to know on FRIDAY, June 28, 2024.
Where uh, well, I suppose last night at least provided a reassuring feeling about the “youth” of Hollywood leadership? Look folks, that’s all I got here unless you want to revisit the great enthusiasm that abounded around the SOTU just 3 months ago.
A big thanks to CNN for airing the . . . June debate (which, yes, Team Biden asked for), thereby ruining our collective summers while we we ask ChatGPT “Is it possible to get a new candidate onto Presidential ballots after July 4th?” and it just tells us to “Just give it up, man.”
(FWIW, NBC NEWS laid out that answer here — basically a lot would ride on the DNC convention in August).
SPEAKING OF: Here is your latest shot across the bow from OPENAI’s SORA, courtesy of the marketing department at TOYS “R” US, which used it to make this new ad. Well, sorta.
It involved the work of 20 people to get it there, and a not-insignificant amount of post-production — something we’ll probably need to get a new name for, as it also didn’t involve an actual production of any kind. Nor I’m guessing a music composer or VO artist.
Always nice when a CMO actually tells you what they think: “The train left the station, and we just decided to be the first ones on it.” — Kim Miller Olko, CMO, TOYS “R” US.
IMO, the way to watch this is not for the mistakes that are still present — but rather what does this look like, say, 6 years from now in 2030? While yes, the chances of it getting to the point where the CMO is able to use SORA to just create ads herself are slim — so are the odds of the process still needing 20 employees for it within a couple years.
Flaws and all, TOYS “R” US is going to use this ad as-is with the public, putting it on various streaming platforms soon. #ThanksProgrammaticBuying!
AND: According to Pollstar’s mid-year concert-going report:
Avg. gross 💰 per show: -6.9%
Avg. tickets sold per show: -16.9%
Overall revenue crossed $3B for the first time
So, charging people more . . . but having fewer of them choose to engage with your product. Now, where have I heard that before? 🤔
However, the WSJ reports that VIP packages are still a booming sector. Pollstar also puts the average ticket price in North America for the top 100 tours as +40% since 2019. 🤑
PLUS: IATSE and the AMPTP have reached another deal, this time the Area Standards Agreement which covers 20k film and TV workers around the country. Now onto the Teamsters and Basic Crafts unions, whose deals are up in a month on July 31.
Lotta diverging thoughts this weekend . . . I’ll take $45M to $50M on Quiet Place, and count me in the heartland crew for Horizon at over $12M.
