Advertising Downturn Keeps AMC Networks From Hitting Q2 Revenue Target

CEO Adam Aron has expounded on Twitter and most recently on AMC Entertainment’s latest earnings call about the risk of a cash crunch and even bankruptcy if it wasn’t able to secure financing in a still uncertain box office climate.

Giant theater chain AMC Entertainment has promoted Ellen Copaken to SVP Marketing, effective immediately. She was also appointed to sit on the company’s management executive committee.

Rebecca Rubin Film and Media Reporter AMC Theatres has promoted Ellen Copaken to lead its marketing department. As senior VP of marketing, effective immediately, she will report to AMC’s chairman and CEO Adam Aron and will join the company’s executive committee. She’s taking over for Eliot Hamlisch, who recently departed the company.

Fox Corp. revenue stayed flat in the quarter ending June 30 compared with the year-earlier period, but it matched Wall Street analysts’ consensus estimate as earnings beat expectations.

Top exhibitor AMC Entertainment rode the box office revival in the second quarter, beating Wall Street forecasts and returning to profitability.

Naman Ramachandran Revenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, slid 5.1% to €3.1 billion ($3.4 billion) for the first half of 2023, financial results released on Tuesday have revealed. Adjusted EBITA (Earnings Before Interest, Taxes, and Amortization) was down to down to €250 million compared to €501 million during the same period in 2022 and group profit was at €132 million, more than 50% down €304 million in 2022. The company attributes this to “challenging TV advertising markets, in particular in Germany.” RTL group’s TV advertising revenue declined 12.5% to €1.18 billion (H1/2022: €1.35 billion).

AMC Networks CEO Kristin Dolan offered a wish for labor peace, but she also said the dual WGA and SAG/AFTRA strikes wouldn’t begin to threaten the company’s programming supply until “well into 2024.”

Jennifer Maas TV Business Writer AMC Networks reported its second-quarter 2023 earnings Friday, revealing it had lost 500,000 more subscribers across its portfolio of niche streamers and was down 17% in U.S. ad sales for the April 1-June 30 period. AMC Networks lost 300,000 subscribers across its streaming services in Q1, falling from 11.8 million at the end of 2022 to 11.5 million by March 31.

Amazon cruised past Wall Street estimates in the second quarter, swinging from a loss in the year-ago period to better-than-expected profits.

Naman Ramachandran Declining TV advertising revenues in the German-speaking region have contributed to revenues and profits plunging at media giant ProSiebenSat.1. Quarterly results published on Thursday reveal that the group’s revenues declined from €1.04 billion ($1.14 billion) in 2022 to €868 million ($950 million) this year.

Heather and Terry Dubrow selling Chateau Dubrow last year for $55 million — the third largest sale in Orange County history — is now a major storyline for the second half of The Real Housewives of Orange County.Bravo released the explosive season 17 midseason trailer, and Fancy Pants is going toe-to-toe with nearly all her costars, especially Tamra Judge and Shannon Beador, who find out about her selling her home on the internet.«Heather and Terry Dubrow sell their home for $55 million,» Tamra tells Shannon, who replies, «Why wouldn't she mention it to us?»Then, Tamra suggests Heather made fun of Emily Simpson's body, saying, «She told Emily that she looked like a Snuffleupagus.»«So, it's OK to body shame?!» asks Emily. Shannon then seemingly confronts Heather about mysterious gossip the actress shared off camera about Shannon's relationship with ex-boyfriend John Janssen by yelling, «You owe my boyfriend a huge f**king apology!»Heather, who doesn’t want to deal with all the drama admits, «I am tired of being everyone's whipping boy.»Well, hopefully, Heather told her co-stars about putting down more roots in Los Angeles.

Elden Ring, Sekiro: Shadows Die Twice, Bloodborne and other FromSoftware titles, announced her departure from the developer on Tuesday (August 1).“I have decided to leave FromSoftware, the company I worked for, and to start working new as a freelance composer in this August,” she said in a post to X. She affirmed that she still would like to work within the games industry and pointed fans to her new website that promotes her previous compositions.Thank you all for your continued support.　Today I have an announcement to make.I have decided to leave FromSoftware, the company I worked for, and to start working new as a freelance composer in this August.— Yuka Kitamura (@_Yuka_Kitamura_) August 1, 2023Fans supported Kitamura in her latest venture but the overall feeling is one of heartbreak, as well as appreciation for her contributions to these games.“Truly sad news.

Carson Kressley is known for his stylish taste, but his bathroom décor is on another level.

McKinley Franklin editor Major Major, the Los Angeles-based full-service creative advertising agency, has welcomed Dave Ligorner as its latest addition to the company. Hailing from his previous role at Buddha Jones, Ligorner is an impactful horror, indie and tentpole trailer producer. With 20 years in the field, Ligorner has produced several DC film trailers, including the 2023 Ezra Miller-led “The Flash,” David F.

Todd Spangler NY Digital Editor Roku’s second-quarter 2023 earnings soundly beat Wall Street expectations, while it still sounded a note of caution about “muted” TV ad spending in the U.S. The company reported Q2 revenue of $847.2 million, up 11%, and a net loss of $107.6 million (-$0.76 per share). Analysts expected an adjusted loss of $1.28 per share on revenue of $773.49 million.

Netflix has sparked an outcry by listing a vacancy for a new $900,000-a-year product manager role for their AI Machine Learning programme in the midst of the SAG-AFTRA strike.The Screen Actors Guild (SAG-AFTRA) union went on strike earlier this month, after negotiations broke down with the Alliance of Motion Picture and Television Producers (AMPTP) over streaming residuals and safeguards against AI technology.According to the job description, the Product Manager position will focus on “increasing the leverage of our Machine Learning Platform.” The MLP is Netflix’s in-house AI program, which has traditionally been used to power the streamer’s algorithmic recommendations. Per Netflix’s research page, the company is now making more use of the program to “optimise” film and TV production, although it’s not clear how they plan to do so.We all know one of the biggest issues both of the striking guilds, the WGA and SAG-AFTRA, have with AMPTP’s offer for a new contract is a lack of protection against and regulation of AI.

CBS and Fox weighed in on their upfronts today, following NBC last week. CBS has closed its 2024 selling season up “low-to-mid single digits” in dollar commitments. Fox Corp. showed gains in news and is looking at a fall slate of sports, animated and unsripted content.

Naman Ramachandran U.K. broadcaster ITV’s total external revenues declined 2% to £1.63 billion ($2.11 billion), according to half year financial results released on Thursday. The decline, which is due to a challenging advertising market, was offset by growth in ITV Studios and digital revenues.

“Dark Winds” is the best show you’re probably not watching. The first season dropped in a crowded Summer 2022 on the less-than-massive AMC+ and didn’t get enough attention, but the second season might have the power to change.

CEO Adam Aron said a court ruling Friday that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout ‘Barbenheimer’ weekend at the box office and surging share price notwithstanding.