Showbiz Sandbox 288: This Summer’s Box Office Is Turning Into A Blockbuster

A string of big budget Hollywood sequels and prequels like “Jurassic World”, “Avengers” and “Minions” have driven the 2015 summer box office nearly 15% higher than last year. And not just in the United States. Countries all over the world are reporting strong movie attendance, especially in China where homegrown productions have been the top grossing releases.

It doesn’t hurt that North American moviegoers are currently paying the highest ticket prices on record. Just ask IMAX which just reported the highest quarterly earnings in the company’s history.

It isn’t all good news for Hollywood studios however. The European Union is charging the six major distributors with antitrust violations over what regulators allege are illegal licensing contracts with cable operators. Should the EU prove their case, it could cause havoc by eradicating longstanding entertainment industry business models.

Of course we also cover the week’s top entertainment news including the Emmy Award nominations, the approval of AT&T’s merger with DirecTV, why Neil Young is yanking his music from streaming services.

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Showbiz Sandbox 201: Why CBS Is Winning The Battle (And The War) Over Cable Television

For the past two weeks Time Warner Cable has been blacking out CBS networks in New York, Los Angeles and other major markets over a retransmission dispute. Despite losing more than 3 million households ratings on CBS have remained steady giving the network no reason to back down from its demands. With the new television and football seasons set to begin in September Time Warner Cable may have no choice but to cave in to CBS’ terms.

Meanwhile, this summer’s blockbuster movies continue to underperform at the box office with Disney announcing they may have to take a $190 million write down on losses from “The Lone Ranger”. Actor Johnny Depp and producer Jerry Bruckheimer have figured out who to blame for the movie’s failure; vengeful American film critics.

After being publicly trashed by George Clooney, activist investor Daniel Loeb was unable to convince Sony to spin-off its entertainment divisions. Even so, Loeb says he’s pleased since the company’s stock price is up and its management more accountable to shareholders.

Of course we also cover the week’s top entertainment news including a lost film from Orson Welles, a new ending for the “Finding Nemo” sequel and the surprising new owner of The Washington Post.

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