Showbiz Sandbox 289: In Hollywood Fame and Fortune Is Often Relative

There is no dispute that in the entertainment business, just like in any other industry, money is the fuel that keeps the engine running. Yet raising it, accounting for it, paying it back and doling out profits is becoming more complex for media companies. Indeed, making a fortune in show business is anything but easy or straight forward.

Take Relativity Media for example. The upstart movie studio and its brash CEO Ryan Kavanaugh were going to change the way Hollywood operated and movies were made. However now they’ve filed for bankruptcy. We’ll provide some background and explain the details of what could wind up being the largest studio bankruptcy ever.

Movie moguls aren’t the only one’s struggling to mind their dollars and cents. Legendary musician David Byrne wants record labels to be more transparent about where all the money is going in the music business. Meanwhile the Authors Guild has a few thoughts of its own when it comes to copyright and revenue from book sales.

Of course we also cover the week’s top entertainment news including Jon Stewart’s last “Daily Show”, staff turmoil at Rolling Stone magazine and changes afoot in film distribution strategies.

Continue reading Showbiz Sandbox 289: In Hollywood Fame and Fortune Is Often Relative

Play

Showbiz Sandbox 283: Why Apple Is Cannibalizing Its Own Music Sales

Apple finally announced its long rumored music streaming service last week, which is meant to compete with market leaders Pandora and Spotify. The offering seems in direct conflict with the ongoing business of the largest music retailer in the world, but as Ryan Faughnder of the Los Angeles Times points out, Apple may have had no choice since iTunes digital music sales have significantly decreased.

Now, the music industry is hoping that Apple can ride to their rescue once again, as they did with digital music previously, by attracting the large subscriber base required to make music streaming profitable. Faughnder gives us his thoughts on what the new service means to the business, and tells us how competitors have responded to Apple’s entrance into the market.

There seemed to be no competition for “Jurassic World” during its theatrical debut. The film was released globally and gobbled up opening weekend box office records both in North America and internationally, earning more $500 million in just three days. That gross is more than the combined weekend receipts for every other film currently in theaters worldwide.

Of course, we also cover the week’s top entertainment news stories including Rupert Murdoch steps down as CEO of 21st Century Fox, video games get their own hall of fame and what happened when Dave Grohl of the rock band Foo Fighters broke his leg in the middle of a concert.

Continue reading Showbiz Sandbox 283: Why Apple Is Cannibalizing Its Own Music Sales

Play