Finance

New subscriptions to Hulu have outpaced those of Disney’s flagship streaming platform, Disney+, in 18 of the past 24 months, and total new subscriptions to Hulu have exceeded those to Disney+ in each of the last six quarters, according to data from subscriber-measurement firm Antenna. Hulu’s subscriber gains come as Disney leadership is under pressure from investors to keep up the momentum in Disney+ subscriber growth.

Source: Hulu Is Driving More Streaming Subscribers to Disney Than Marvel or Star Wars

There’s a storm brewing in Hollywood’s creative community, just as the largest unions and employers are preparing to wrestle anew at the contract bargaining table. The discussions are sure to be more charged than usual because of the tectonic shifts across TV and film that were accelerated by pandemic conditions in 2020 and ’21.

Source: The End of Ownership: Why the Battle Over Paying TV Creatives Is Only Getting Crazier

Netflix’s better-than-expected quarterly results on Tuesday bodes well for music streaming services. Netflix’s woes have caused analysts and investors to question the health of music streaming platforms. Shares of Spotify plunged 6.3% and 10.9%, respectively, on the day following Netflix’s two previous earnings releases. Following Netflix’s earnings announcement on Tuesday, Spotify shares rose 2.9% to $111.80 in after-hours trading.

Source: Netflix’s Better-Than-Expected Subscriber Forecast is Good News for Music Streamers

Netflix executives see content spending of about $17 billion in 2021 lingering there through 2023. It’s the latest shift for the giant streamer that’s always been gung-ho about spending and was seen as nosing up to the $20 billion range. But as part of an overall industry rethink — and its own — CFO Spencer Neumann said, “We are expecting to spend about $17 billion this year, and we are in the right ZIP code.”

Source: Netflix Content Spend Set To Plateau At $17B For Next Few Years

Netflix reported its fiscal second quarter earnings on Tuesday after market close as the company battles ongoing inflationary pressures, increased competition, and an uptick in subscriber churn. The streaming giant’s Q2 subscriber numbers showed a narrower loss than expected, causing shares to surge more than 8% in after-hours trading.

Source: Netflix shares jump as Q2 subscribers beat estimates

Continuing its foray into digital art, Christie’s Auction House launched its own venture capital firm July 18. Called Christie’s Ventures, it will fund emerging and financial technology companies relevant to the art market. The firm has already invested in LayerZero labs, a startup focused on easing the movement of assets across blockchains.

Source: Despite an NFT Downturn, Christie’s Just Launched a Venture Fund to Improve Technology in the Arts

London-based Hipgnosis Songs Fund Ltd. said Thursday that revenue for its fiscal year ended March 31 jumped 24.7 percent, partly due to the catalogue acquisitions during the period. “Despite the macro-economic environment, the attractiveness of the music streaming proposition continues to grow,” said Merck Mercuriadis. “It is the lowest-cost entertainment subscription service.”

Source: Hipgnosis Songs Annual Revenue Jumps 25 Percent, Founder Touts Streaming Outlook Despite Economic Clouds

Is the music business sleepwalking into a generational mistake in its deals with TikTok? According to Bloomberg, TikTok generated revenues approaching $4 billion globally in 2021. TikTok is expected to triple this figure to $12 billion in 2022. As a percentage of that total 2021 turnover, the amount TikTok is estimated to have paid recorded music rightsholders ($179m) therefore works out at4.5%.

Source: So… how much did TikTok actually pay the music industry from its $4bn in revenues last year?

The startups—part of what has been called Web3—allowed users to play virtual games and collect digital assets, and the companies’ growth was hinged on interest from people eager to wade into blockchain-based assets. The broader cryptocurrency downturn this year is causing a downturn in users in many Web3 companies, and players and investors are re-evaluating the utility of token-based business models.

Source: Crypto Rout Deflates Some Web3 Startups Buoyed by Push Into Digital Tokens

It’s been a month since Jeff Sagansky’s fiery speech at a NATPE event proclaimed that “we are in a golden age of content production and the dark age of creative profit sharing.” The issue of vanishing backend, to the tune of as much as $1.5B of lost income a year for creative talent, is expected to be front and center in the looming WGA and other unions’ negotiations with the studios on new a film and TV basic agreement.

Source: Jeff Sagansky Says New Streaming Business Model “Has To Be Relegated To The Dust Bin” Now