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News: General

Hollywood Paradigm Changing With Studio Deals For Tech Giants

Tuesday, November 27, 2018   (0 Comments)
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From The Hollywood Reporter:

In a Viacom earnings call on Nov. 16, Paramount Pictures CEO Jim Gianopulos described a new, multipicture deal his studio had set — not with a producer or star, but with Netflix. At a time when competitors Disney and Warner Bros. are withholding their movies from Netflix to feed their own future streaming services, Paramount is trying another tactic: becoming a ready supplier in exchange for what Gianopulos called “an incremental revenue stream.”

A day earlier, A24, the 6-year-old independent-minded company behind such art-house hits as Lady BirdHereditaryMoonlight and Eighth Grade, signed its own deal to produce a slate of films for Apple.

Taken together, the deals represent a major shift in the industry: Movie studios are no longer making films just for themselves, but for the deep-pocketed technology companies that have become Hollywood’s latest conquistadors.

- Read the full story at HollywoodReporter.com


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