Showbiz Sandbox 110: “Transformers” Proves Mediocrity Makes Money
July 6, 2011
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.
‘Transformers’ A U.S. Hit, Soars Even Higher Abroad
MoviePass Put On Hold Amid Negative Reactions From Theater Owners
News Corp. Sells MySpace To Specific Media For $35 Million
Justin Timberlake Takes Stake In MySpace
Top 10 Musicians Sharing Content On Facebook Drive 80 Million Pageviews
How Much Does It Cost To Make A Hit Song
Netflix Stock Hits All-Time High After Latin America, Caribbean Expansion Announced
Chord Overstreet Is No Longer A ‘Glee’ Regular
David Gray Release Live Album Through GroupOn
Disney Prepping Adventure Movie Based On Matterhorn Ride
ESPN Finalizes 12-Year Deal For Wimbledon Rights
Amazon To Acquire UK Online Book Seller And Publisher
Casey Anthony Trial Propels HLN To Highest-Rated Month Ever
Politico Enters E-Book Venture With Random House
Charlie Sheen Roast To Air On Comedy Central Same Night As Ashton Kutcher’s Debut On ‘Men’
Lionsgate Comes Aboard To Help Kevin Smith Distribute His “Red State”
Inside News Corp.’s Jockeying For BSkyB
Earnings For WGA Screenwriters Fell 10% In 2010
South Korea To Host 2018 Winter Olympics
James Spader Gets A Full Time Gig At ‘The Office’
Sluggish Print Ad Business Prompts Gannett To Cut 700 Jobs
Random House Revives Loveswept As E-only Imprint
Evanovich’s “Smokin’ Seventeen” Sells 218,000 On First Day
Digital Jumps, Print Plunges In AAP Monthly Sales Report