Showbiz Sandbox 110: “Transformers” Proves Mediocrity Makes Money

July 6, 2011

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When “Transformers 3: Dark of the Moon” hit theaters over the Fourth of July holiday weekend fans of the franchise were relieved to discover it wasn’t nearly as bad ad the second film. That seems to be a fairly common response to Michael Bay’s latest critic-proof popcorn blockbuster. The highly anticipated movie made nearly $400 million at the worldwide box office in its first week explaining why studios love such formulaic dreck and all but ensuring another sequel.

Last week also saw the sale of MySpace. The once dominant social network Internet site which was once valued at $12 billion was sold by News Corp. at a loss for a mere $35 million. What may be more surprising than anyone actually wanting to buy MySpace is that pop star Justin Timberlake has been tapped to help turn the company’s fortunes around by focusing on music.

Speaking of music, NPR tried to figure out how much it costs to make a hit pop song by examining the finances behind Rihanna’s recent single “Man Down”. Apparently all it takes is $1.1 million in production and promotions costs and 12 minutes to right the lyrics.

Of course we also review all the week’s top entertainment headlines including plans for another movie based on a Disney theme park ride, a Charlie Sheen celebrity roast and Netflix’s trip to Latin America.

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‘Transformers’ A U.S. Hit, Soars Even Higher Abroad
http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/07/box-office….

MoviePass Put On Hold Amid Negative Reactions From Theater Owners
http://www.hollywoodreporter.com/news/moviepass-put-hold-negative-reactions….

News Corp. Sells MySpace To Specific Media For $35 Million
http://www.hollywoodreporter.com/news/news-corp-agrees-sell-myspace-206897

Justin Timberlake Takes Stake In MySpace
http://www.hollywoodreporter.com/news/justin-timberlake-takes-stake….

Top 10 Musicians Sharing Content On Facebook Drive 80 Million Pageviews
http://www.hypebot.com/hypebot/2011/06/top-10-musicians-sharing-content….

How Much Does It Cost To Make A Hit Song
http://www.npr.org/blogs/money/2011/07/05/137530847/how-much-does-it….

Netflix Stock Hits All-Time High After Latin America, Caribbean Expansion Announced
http://www.hollywoodreporter.com/news/netflix-stock-hits-all-time-207966

Chord Overstreet Is No Longer A ‘Glee’ Regular
http://nymag.com/daily/entertainment/2011/07/glee_cast_reshuffle.html

David Gray Release Live Album Through GroupOn
http://www.americansongwriter.com/2011/06/david-gray-releases-live-album….

Disney Prepping Adventure Movie Based On Matterhorn Ride
http://www.hollywoodreporter.com/heat-vision/disney-prepping-adventure-….

ESPN Finalizes 12-Year Deal For Wimbledon Rights
http://www.hollywoodreporter.com/live-feed/espn-finalizes-12-year-deal-207980

Amazon To Acquire UK Online Book Seller And Publisher
http://allthingsd.com/20110704/amazon-to-acquire-uk-online-book-seller….

Casey Anthony Trial Propels HLN To Highest-Rated Month Ever
http://www.hollywoodreporter.com/live-feed/casey-anthony-trial-propels-hln….

Politico Enters E-Book Venture With Random House
http://mediadecoder.blogs.nytimes.com/2011/06/26/politico-enters-e-book….

Charlie Sheen Roast To Air On Comedy Central Same Night As Ashton Kutcher’s Debut On ‘Men’
http://www.hollywoodreporter.com/news/charlie-sheen-roast-air-comedy-207973

Lionsgate Comes Aboard To Help Kevin Smith Distribute His “Red State”
http://www.deadline.com/2011/06/lionsgate-comes-aboard-to-help-kevin-smith….

Inside News Corp.’s Jockeying For BSkyB
http://www.adweek.com/news/press/inside-news-corps-jockeying-britains….

Earnings For WGA Screenwriters Fell 10% In 2010
http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/07/wga-earnings….

South Korea To Host 2018 Winter Olympics
http://www.hollywoodreporter.com/news/south-korea-host-2018-winter-208270

James Spader Gets A Full Time Gig At ‘The Office’
http://artsbeat.blogs.nytimes.com/2011/07/06/james-spader-gets-a-full-time….

Sluggish Print Ad Business Prompts Gannett To Cut 700 Jobs
http://mashable.com/2011/06/21/gannett-layoffs/

Random House Revives Loveswept As E-only Imprint
http://www.publishersweekly.com/pw/by-topic/industry-news/publisher-….

Evanovich’s “Smokin’ Seventeen” Sells 218,000 On First Day
http://www.publishersweekly.com/pw/by-topic/industry-news/publisher….

Digital Jumps, Print Plunges In AAP Monthly Sales Report
http://www.publishersweekly.com/pw/by-topic/industry-news/financial-….

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