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the daily courant

Cuomo vs CNN, Zaslav's Pay Package, Chapek's Mea Culpa

 

Happy Friday and welcome back to The Daily Courant, your afternoon guide to what's new at Puck.

 

Today, we lead with Matthew Belloni’s provocative deep dive into the zero-sum economics behind Netflix’s alarming stock market slump—and why some Hollywood insiders are starting to sour on economics of streaming, itself.

 

Plus, below the fold, don’t miss Eriq Gardner’s analysis of Chris Cuomo’s audacious legal theory in his arbitration with CNN. And Peter Hamby and Belloni discuss the ongoing fallout from Disney C.E.O. Bob Chapek’s political missteps on the latest episode of The Powers That Be.

 
reed

Why Hollywood Is Souring (Some) on Streaming

Media companies were betting on the ability to invest big, grow fast, and join Netflix in the redefined TV hierarchy. Now, increasingly, they seem to be asking: What if everything Netflix thought it knew turns out to be a lie?

matt

MATTHEW BELLONI

 

What if everything you thought you knew is a lie? People think that’s a line from The Matrix. It’s not, actually, but it sounds like it should be, so I’ll co-opt it to talk about this precarious moment in Hollywood. 

 

It’s been about five years since The Walt Disney Co. first announced that it was developing its own Disney-branded streaming service, and in that short time the entertainment industry has fully transformed itself to chase Netflix, Amazon Prime Video, and the 1 billion households that, we’ve all been promised, are absolutely dying to pay for multiple subscription video services.

 

This was considered the TAM, the “total addressable market,” or the projected number of potential customers just sitting there for the taking. The leading minds at media companies (and the consulting firms that nudge them) have convinced the C-suite trigger-pullers that if you spend enough money streaming Ryan Reynolds time-travel dramas and bizarre dating competitions, the riches of global scale and pricing power await, thanks to that huge TAM. It’s true, because everyone says it’s true...

CONTINUE READING ON PUCK
 

FOUR STORIES WE'RE TALKING ABOUT

cocktail

Inside the Cuomo Case

Interestingly, some of the precedent for the filing hangs on a previous suit—regarding Michael Jackson, no less.

ERIQ GARDNER

money bag

Biden's Ukraine War Room

Joe Biden’s former Ukraine advisor reveals how the White House assesses Putin’s military objectives, his sanity, and his endgame.

JULIA IOFFE

money bag

MSNBC's Olbermann Story

The situation at MSNBC manifests just how bizarre things have gotten at the soon-to-be former House of Maddow.

DYLAN BYERS

card

Who Wants CBS?

Redstone likely can’t sell Paramount Global until she finds a way to flip its broadcast and affiliate assets. Could private equity step in?

WILLIAM D. COHAN

swash divider
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