Showbiz Sandbox 110: “Transformers” Proves Mediocrity Makes Money

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.

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Showbiz Sandbox 103: Midnight In Cannes – This Year’s Fest Sparks Fireworks

Woody Allen’s film “Midnight In Paris” opened the 64th annual Cannes Film Festival last week, but it was Terrence Malick’s long awaited “Tree of Life” which everyone was eager to see.  The film divided audiences with some booing loudly and others proclaiming it a masterpiece.  We provide all the highlights from this year’s festival, including news about films and the scene along the Croisette.

Google decided not to wait around for record labels to offer them a decent license before launching their cloud music service.  After watching Amazon launch their own music service, Google realized they would never get an appropriate licensing deal from the labels so took matters into their own hands.

Meanwhile, major television networks began holding their upfronts where they inform advertisers, and the world, what shows will air during the fall television season.  We fill you in on who made the cut, who got cut, and why.  The announcement that Ashton Kutcher will replace Charlie Sheen on “Two and a Half Men” was the biggest television news of the week.

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