Chinese Streamer iQiyi Reduces Quarterly Losses, Raises $500 Million in Debt Sale

Patrick Frater Asia Bureau Chief Comedy drama film “Give Me Five” held on to the top spot at the mainland Chinese box office with a weekend score of just $7.4 million (RMB50.8 million). The film is the story of a young man who is helping his father rediscover his lost memories. As he does so, he is transported back in time and accidentally alters his parent’s pasts. That means he must reunite the pair or risk never being born. It stars Ma Li Chang Yuan and Wei Xiang and is directed by Zhang Luan.

Rebecca Rubin Film and Media Reporter “The Woman King,” a historical action epic starring Viola Davis, ruled over domestic box office charts in its opening weekend. Bolstered by stellar reviews and positive word-of-mouth, the movie collected $19 million from 3,765 North American cinemas over the weekend, arriving at the higher end of expectations. Independent tracking services projected “The Woman King” would kick off with $15 million to $18 million, while Sony estimated a debut closer to $12 million. Sony is lucky the film exceeded its ultra-conservative forecasts. “The Woman King” cost $50 million to produce, not including the tens of millions in marketing expenses, including a stop at the Toronto International Film Festival.

Sir Kier Starmer believes the death of Queen Elizabeth has "robbed" the UK of its "most steadying influence". The Labour leader has reflected on the impact the death of the monarch at the age of 96 has had and can understand why it has been so "acutely felt", and he believes the way the nation has come together in grief has been "heartening". He said: "It was when I had the honour of attending the Platinum Jubilee celebrations this year that I began to reflect on what the Queen’s reign has meant for our country.

Rebecca Rubin Film and Media Reporter Fresh off its enthusiastic world premiere at the Toronto Film Festival, the Viola Davis-led historical epic “The Woman King” will touch down in 3,700 North American movie theaters over the weekend. The domestic box office desperately needs a boost, but will U.S. audiences be as receptive as festival-goers in Canada? Touted as the real-life “Black Panther,” Sony’s “The Woman King” is aiming to collect at least $15 million in its domestic debut. Independent box office observers are optimistic that opening weekend returns could reach $17 million to $20 million. Yet Sony, who co-financed the movie with eOne, is projecting $12 million, in line with 2018’s “Widows,” which also starred Davis. Replicating those ticket sales, even with tempered pandemic-expectations, would be tepid-at-best since “The Woman King” carries a $50 million price tag.

Todd Spangler NY Digital Editor Listen up: Podimo, the Denmark-based subscription service for podcasts and audiobooks, said it secured €58.6 million (about $58.4 million) in funding, as it seeks to grow its market footprint and content lineup. The funding was led by previous investors 83North, Highland Europe and Saban Ventures, with continued participation from Chr. Augustinus Fabrikker, Heartcore and Headline. The latest round brings Podimo’s total raised to date to about €162 million ($161.5 million), the company said. Podimo did not disclose valuation but said the new capital represented an “up round,” meaning its valuation increased. Founded in 2019, Podimo said it has doubled its headcount in the past two years and currently has about 225 employees. The company plans to step up hiring with the new funding.

Marcus Mumford has spoken of how the advice Neil Young gave him a decade ago influenced his debut solo album.The Mumford & Sons frontman is due to release ‘(self-titled)’ this Friday (September 16) via Island (pre-order here). He’s already previewed the project with the singles ‘Grace’ and ‘Cannibal’.Speaking to NME recently, Mumford explained how the process of writing the imminent new record has changed him as a songwriter.“Neil Young sat me down about 10 years ago and told me the importance of recorded music,” the musician explained, “and that I should pay more attention to the way in which we record because I was always [like], ‘Ah, it’s just an advert for a live show.’ He was like, ‘No man, these things last.'”Mumford continued: “I felt like on this record, I listened to that [advice].

Nick Vivarelli International Correspondent Prime Video has inked an overall creative deal with Italian writer-director Antonio Dikele Distefano, who is the originator of groundbreaking Netflix original series “Zero” that in 2021 marked Italy’s first show centered around the present-day lives of black Italian youth. Dikele, who was born in Italy to Angolan parents, is now making his feature film debut with an Amazon original film titled “Autumn Beat,” a coming-of-age drama about two brothers named Tito and Paco, who grew up in Milan and have the same dream: to break into the rap music world. “The duo seem destined for success—Paco is a born performer and Tito knows how to write like no other—but ambition, life, and love for the same woman will test their bond,” says the provided synopsis.

specific demands for each studio. They were shortly joined by nearly 600 male creatives and around the same number of directors.

Patrick Frater Asia Bureau Chief For Asian media operators, the death of Queen Elizabeth II occurred in the middle of the night — Buckingham Palace made its announcement at 6.30 p.m. BST on Thursday — which meant some needed to play catch-up. That was achieved quicker by online and TV outlets than print media. In Australia, a Commonwealth country which has also lost its monarch, public radio and TV broadcaster Australian Broadcasting Corporation newsreaders dressed in black. Programming has switched to reflect the Queen’s life and seven decades of reign. News Corp., which operates major print news brands in Australia, said it will publish souvenir issues on Saturday. These will include the Herald Sun, Daily Telegraph, The Courier-Mail and The Advertiser.

The new Prime Minister Liz Truss and leader of the opposition Sir Keir Starmer left the House of Commons abruptly after they were handed notes about the Queen.

Patrick Frater Asia Bureau Chief South Korea’s leading entertainment group CJ ENM has appointed Steve W. Chung as its global chief growth officer. He will be based in Los Angeles. Previously, Chung served as chief growth officer at Fox Corporation. Prior to that Chung was the founder and CEO of Frankly, a publicly-traded media tech company based in San Francisco. He was also a venture capitalist in Silicon Valley and an executive producer in China.  Chung currently serves as a board member of the non-profit National Asia Pacific Center on Aging (NAPCA) and received his B.A from Harvard College and an M.B.A. from Stanford University.

NU’EST member Baekho is gearing up to release solo music later this year.This is according to South Korean media outlet Newsen, which reported yesterday (August 30) that Baekho was reportedly focusing on preparations for his debut solo album. The report added that the idol also recently finished a photo shoot for the album’s cover jacket.Pledis Entertainment, Baekho’s management agency, has since responded to the news through a press statement issued to Top Star News.

Patrick Frater Asia Bureau Chief Song Kang-ho, known for his roles in “Memories of Murder” and “Parasite,” has signed up to make his TV series debut. He will star in indie-produced drama “Uncle Sam Shik.” “Uncle Sam Shik” is a 1960s-set tale of two men, their pride, greed and bromance, local Korean media reports. Song’s co-lead actor has not been disclosed. The series is to be directed by Shin Yeon-shick, with whom Song has recently shot feature films “Coweb” and “One Win.” Both films have completed physical production but have not yet been released. The series is reported to be a ten-episode drama, produced by Slingshot Studio. A broadcast or streaming partner has not yet been announced.

Patrick Frater Asia Bureau Chief More than 600 buyers from companies in 30 countries are expected to be in Seoul, South Korea from Wednesday for the in-person return of the Broadcast WorldWide convention, better known as BCWW. Although BCWW bills itself as Asia’s largest broadcasting content market, given the strength of the Korean wave, much of the focus will be on Korean content and the business of working with Korean companies. Registered buyers and potential partners include Amazon Prime, Warner Bros. Discovery, NBCUniversal, PCCW the Hong Kong-based owner of Viu, and China’s iQiyi, all of which have already become purveyors of K-programming. “For the past 22 years, BCWW has served as a foundation for K-content to garner the global attention it is getting today,” said Cho Hyun-rae, president of the government-backed Korea Creative Content Agency (KOCCA). He added that he expects KOCCA and BCWW to “provide continuous support for K-content.”

said in July that app downloads and usage have increased as rival creator-driven social platform TikTok has come under increased scrutiny both in the United States and internationally. Triller counts celebrities such as Snoop Dogg, Kevin Hart, Billie Eilish and Justin Bieber among its users.

Jack Harlow is having a major moment at the 2022 MTV Video Music Awards. Harlow opened Sunday night's show with a performance of «First Class,» straight from an airplane set.