Media, Arts and Entertainment

Reuters | |

ViacomCBS Inc’s quarterly results demonstrated a level of resilience, buoyed by demand for streaming, even as the coronavirus pandemic ravaged media businesses globally, sending shares up 5% at the open.

Although it logged a 12% drop in revenue, dragged down by a steep decline in advertising, the fall was less than expected and ViacomCBS Chief Executive Bob Bakish told analysts the second quarter was the bottom for ad declines. ...

Reuters | |

Walt Disney Co missed quarterly revenue estimates and reported a rare loss on Tuesday, as the COVID-19 pandemic pummeled its theme parks and movie studio businesses, even as the crisis helped its streaming services gain subscribers.

The outbreak forced the company to close some of its parks globally, delay the release of films, including the much-anticipated “Mulan”.

Closure of theme parks in the quarter resulted in an operating loss of $1.96...

AP News | |

The coronavirus pandemic took a toll on Comcast in the second quarter as movie theaters closed, theme parks shut down and advertisers cut back.

The company reported Thursday that its NBCUniversal TV, film and theme park divisions, as well as its Sky unit in Europe, all suffered steep drops in revenue in the April-June quarter.

But period was not all grim news. The Philadelphia-based company added U.S. internet customers and 10 mill...

AP News | |

She was one of Hollywood’s most glamorous stars and determined off-screen fighters. No one was better suited than Olivia de Havilland to play the sainted Melanie Wilkes in “Gone With the Wind” or more tenacious about the right to appear in the films of her choosing.

Fans and actors alike owe much to de Havilland, the Oscar-winning performer who became, almost literally, a law unto herself.

De Havilland, who died Sunday at 104, was one of the last survivors of Hollywood’s so-called Golden Age. She was beloved to millions as Wilkes in “Gone With the Wind, but also won Oscars for “To Each His Own” and “The Heiress” and challenged and unchained Hollywood’s contract system.

Reuters | |

Walt Disney Co on Thursday postponed the debut of its movie “Mulan” indefinitely, dealing a new blow to theater operators that were counting on the live-action epic to help attract audiences during a pandemic.

ViacomCBS Inc’s Paramount Pictures also said “Top Gun: Maverick”, the much-awaited sequel to the Tom Cruise-starring “Top Gun”,...

Reuters | |

Not so long ago, advertising executives were banking on the start of an industry recovery as early as the third quarter after the global coronavirus pandemic decimated marketing budgets this year.

But the rebound will be slower than expected as the restart of the U.S. economy has stumbled across many states and COVID-19 infections have spiked in key regions including California, Florida and Texas. Ad market forecasters said they are likely to lo...

Equities Staff | |


Reuters | |

New York Times Co on Wednesday named Chief Operating Officer Meredith Kopit Levien as its new chief executive, replacing Mark Thompson who is credited with pushing for the company’s successful transformation into an online publisher.

The change is effective Sept. 8 and the company said Levien, 49, will also join its board.

In an interview with the Times, Levien said she would continue to focus on and expand the news...

Reuters | |

(Reuters) - Spotify Technology said on Wednesday it signed a new, multi-year licensing agreement with Vivendi’s Universal Music Group, the label behind artists such as Taylor Swift and Coldplay.

Shares of the Stockholm-based company were up nearly 5% in mid-afternoon trading to $289.85, taking their year-to-date gain to 94%.

Spotify and UMG said they would collaborate on new, marketing campaigns across the music streaming company’s platform, while UMG would also...

Reuters | |

Joe Biden’s presidential campaign on Tuesday announced $15 million in new spending on advertising, as the former vice president looks to capitalize on his polling advantage over Republican President Donald Trump ahead of the Nov. 3 election.

The ad buy marks a sharp increase in spending by Biden, the presumptive Democratic nominee, who launched his first major advertising blitz in the second half of June but has seen a dramatic uptick in fundraising in r...