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The Hot Button Week That Was (October 17-23)
Sometimes I wonder why I am tired on the weekends… then I look back at what I did this week and I feel the immediate urge to take another nap.
Wish I had an editor to tell people I was great and brilliant and more important than oxygen… maybe I should make someone up. Hmmm…
My project this week is to write stories about the numbers in the industry in a ,ore concise, easily understood way for those who have requested it (and it is the #1 request I get). I’d love to hear any opinions of the topic.
More likely, the endless marketing of “if you don’t go to the movies, it will be on your TY in a few weeks,” that is de-motivating some percentage of the more consistent moviegoers. That and a general sense that “there’s nothing to go see.” Why isn’t there anything to go see? Because every studio now either has a streamer or has a set relationship with a streamer and some of the smartest, most talented, serious-about-the-work people you will ever meet are having a hard time getting back to walking and chewing gum at the same time.
Going into tomorrow’s Q3 Earnings Release, Netflix is leaning into the password sharing crackdown (as seen above) and advertising, which they released the first details of last week to thundering indifference.
Why didn’t anyone get excited about the ad tier? Because it is the crappiest possible version of Netflix, thus limiting the threat of cannibalism… and popularity. Offer the 4k, 4-user version of Netflix, with ads, for $12 and watch the stampede.
My first reaction to this insane Variety story, “27 Great Movies That Flopped at the Box Office,” was uncertain. 27? What is the standard for “great?” What is the standard for “flop?”
As of this writing, Netflix has been up 15% in after-hours trading based on… a very mixed quarterly report. (Dare I say, as expected?) As I post this at 2:45pm pacific , the number is up 14.39%/$34.65.
Revenue is up… if you base it on year-over-year. But it is down from last quarter. And it is projecting revenues to go down more next quarter. However, the project, year-over-year for next quarter is projected to be up $67 million from Q4 2021. So everything is great, right?
It’s working for Netflix today.
What did Jim Cramer love about the call yesterday? Not the numbers. The bravado.
He loved, as many have mentioned, the big dick energy.
1. The Fabelmans
Avatar: The Way of Water
The Banshees of Inisherin
Black Panther: Wakanda Forever
Everything Everywhere All at Once
Glass Onion: A Knives Out Story
Top Gun: Maverick
And the other Top categories…
I find it a remarkable thing to make a movie that is hysterically relentless in extreme action, yet somehow, someway, boring as hell. And this is what is achieved with Black Adam.
I was rooting for this movie. I am a fan of Ol Parker and this seemed like such a great opportunity. But this script was meant for Cate Blanchett and Paul Giamatti or Kate Winslet and Paul Bettany or some pairing like that. The arrival of movie icons, who it does not feel got the page one rewrite that was needed to make things fit their very special skill sets, becomes more of a bug than a feature.
Until next week… aka tomorrow…