As media markets reach a consolidation fever pitch, three companies will emerge controlling nearly all content creation and distribution in the United States.
Netflix’s $8 billion production allocation for 2018 to produce and acquire 700 shows and films is already reaping record new subscribers.
Netflix is slated to spend $8 billion on original and acquired content in 2018. The company is taking bold action to stay ahead of growing competition.
Television advertising sales in the U.S fell 8% to $61 billion in 2017 – the biggest slump in 20 years. Sales at cable networks dropped for the first time in a decade.
Netflix plans to release 80 films in 2018; nearly as many as all six major studios combined.
In 2017, North American theatrical admissions fell to 1992 levels. Admissions in the U.S and Canada dropped 6% to 1.23 billion tickets sold.
Walt Disney Co’s deal to buy film, television and international businesses from Murdoch’s Twenty-First Century Fox is valued around $40 per share, or $75B.
Cable networks use bulk pricing to spurn Amazon’s ambitions to launch a skinny bundle with on-demand streaming and live television.
Comcast drops its bid to acquire Twenty-First Century Fox. Disney will likely purchase Fox’s film and television assets before 2017 is over.
Walt Disney Co has been in talks for the last couple weeks to buy film and television assets from conglomerate Twenty-First Century Fox.