Connect with us

Business

'Wicked' spectacles, merger gossip and movie industry woes at CinemaCon 2024

Published

on

'Wicked' spectacles, merger gossip and movie industry woes at CinemaCon 2024

Movie theaters need more movies. Will they ever get enough to truly thrive again?

That was the central question overhanging CinemaCon 2024, the annual convention bringing together Hollywood studios and multiplex operators in Las Vegas this week.

Exhibitors pleaded with the major studios to release more films of varying budgets on the big screen, while studios made the case that their upcoming slates are robust enough to keep them in business.

Once again, CinemaCon, where studios trot out executives and movie stars to pitch their upcoming blockbusters, arrived at a particularly challenging time for the film industry.

After weathering a devastating pandemic that shut down theaters for months, two of the most essential parts of the Hollywood machine, writers and actors, went on strike. The work stoppages — which lasted a combined six months — prompted the leading entertainment companies to push a number of titles to 2025 from 2024, disrupting the supply chain and sparking widespread anxiety in the exhibition community.

Advertisement

Box office revenue in the U.S. and Canada is expected to total about $8.5 billion, which is down from $9 billion in 2023 and a far cry from the pre-pandemic yearly tallies that nearly reached $12 billion.

“It’s not enough for us to simply sit back and want more movies,” said Michael O’Leary, president of the National Assn. of Theatre Owners, during Tuesday’s state-of-the-industry address at the Colosseum in Caesars Palace. “We must work with distribution to get more movies of all sizes to the marketplace.”

Though a fuller release schedule is expected for 2025, talk of budget cuts, greater industry consolidation and corporate mergers has forced exhibitors to prepare for the possibility of a near future with fewer studios making fewer movies.

In the extravagant banquet and trade show halls of Caesars Palace, theater operators groaned about 2024 being painted as yet another “lost year” for cinema — determined in spite of the grim discourse to remain optimistic.

“All indications are the rest of the year is going to be a lot better,” said David Fetters, vice president of West Mall Theatres in Minnesota and South Dakota. “The product we’re seeing here is looking outstanding.”

Advertisement

The studios tried to give exhibitors something to hope for during their CinemaCon presentations — hyping their movie lineups, bringing out filmmakers and cast members, pulling silly stunts, and playing sizzle reels, sneak peeks, trailers and, in some cases, entire features for their industry audience.

‘Wicked’ brings down the house

While promoting their 2024-25 programming, the studios pulled out plenty of stops.

Distribution executives at Warner Bros. delivered their opening remarks dressed as Michael Keaton’s Beetlejuice; Dwayne Johnson joined a Polynesian dance troupe while introducing Disney’s “Moana 2”; and the head of distribution at Paramount entered the theater in full “Gladiator” armor on a gold chariot.

But Universal’s presentation of “Wicked” — director Jon M. Chu’s film adaptation of the hit Broadway musical — took the cake. Convention attendees arrived at their seats to find a surprise in their cup holders: roses that illuminated for a technicolor light show set to an instrumental medley of “Wicked” songs. After the overture, a pre-taped message to all “CinemaConians” from Jeff Goldblum’s imposing Wizard of Oz played onscreen, and Goldblum took the stage in real life.

He was later joined by Michelle Yeoh (Madame Morrible), Jonathan Bailey (Fiyero) producer Marc Platt and Chu, who fought back tears while talking about casting the film’s leading witches. On cue, Glinda and Elphaba themselves — Ariana Grande and Cynthia Erivo — emerged from the wings to thunderous applause.

Advertisement

Like Chu, Grande was overcome with emotion and paused briefly to compose herself while delivering her remarks. .

Other pictures teased during the studio presentations included Universal’s “Despicable Me 4,” Warner Bros.’ “Furiosa: A Mad Max Saga” and “Joker: Folie à Deux,” Paramount’s “A Quiet Place: Day One” and “Transformers One,” and Disney’s “Inside Out 2” and “Deadpool & Wolverine.”

Paramount deal looms

Amid the displays of corporate harmony, it was hard to ignore the elephant in the convention center: a potential merger between Paramount Global and David Ellison’s production company, Skydance.

Shares of Paramount Global — home of Paramount Pictures, CBS and several other legacy brands and franchises — took a nosedive Wednesday after news that a group of of the company’s directors are stepping down amid merger discussions.

This would be only the latest Hollywood merger in a string of deals, including Disney’s acquisition of Fox in 2019 and Warner Bros.’ union with Discovery in 2022.

Advertisement

When asked about the theatrical implications of another studio sale in an already rapidly consolidating industry, National Assn. of Theatre Owners President Michael O’Leary and Motion Picture Assn. Chairman Charles Rivkin largely waved it off.

“There’s always other things that we can do as an industry association to strengthen our industry, and I’ll cross that bridge when I get to it,” Rivkin said during a CinemaCon news conference.

Rather than avoiding the topic during the studio’s CinemaCon presentation on Thursday, Paramount Pictures chief Brian Robbins handled the situation with humor.

“There’s been a lot of speculation around our parent company around [mergers and acquisitions],” Robbins said before joking that Paramount’s head of domestic distribution, Chris Aronson, “has now thrown his hat into the ring as a bidder.”

“He’s starting a Kickstarter campaign,” Robbins continued as the crowd chuckled.

Advertisement

Japanese cinema and faith-based content reign

As the domestic film business has been thrown into turmoil in recent years, Japanese cinema and faith-based content have been two of movie theaters’ saving graces.

Industry leaders kicked off CinemaCon on Tuesday by singing the praises of Sony-owned anime distributor Crunchyroll’s hits — including the latest “Demon Slayer” installment.

Mitchel Berger, senior vice president of global commerce at Crunchyroll, said Tuesday that the global anime business generated $14 billion a decade ago and is projected to generate $37 billion next year.

“Anime is red hot right now,” Berger said. “Fans have known about it for years, but now everyone else is catching up and recognizing that it’s a cultural, economic force to be reckoned with.”

Last year, event-cinema company Fathom Events decided to expand its annual Studio Ghibli series, screening “Spirited Away,” “Princess Mononoke” and other Hayao Miyazaki classics for five nights each instead of just one or two. Fathom Events Chief Executive Ray Nutt said that the extended runs allowed those titles to gross 142% more than they had in the past.

Advertisement

“Anime was one that did very well for us,” Nutt said. “The team is really good at sourcing content and then figuring out where the audiences drive tickets.”

Another type of product buoying the exhibition industry right now is faith-based programming, shepherded in large part by “Sound of Freedom” distributor Angel Studios.

During its presentation on Wednesday, Angel Studios unveiled its lineup of “stories that amplify light,” including an animated feature telling the biblical tale of David and a live-action drama about a German pastor who conspires against the Nazis during World War. II.

“Some of the faith-based things, especially in our part of the country — the Midwest — have had a lot of good traction,” Fetters said.

Nutt added that Fathom Events has also had “huge success” connecting with faith-based audiences by screening content such as episodes of “The Chosen,” a drama series chronicling the life of Jesus Christ. The latest season of the show generated $32 million at the box office, according to Nutt.

Advertisement

Exhibitors make plea for more movies… and flexible windows

The greatest challenge facing theaters right now is a dearth of theatrical releases, exhibitors say. Theater owners urged studio executives at CinemaCon to put more films in theaters — and not just big-budget tent poles timed for summer movie season and holiday weekends.

“There’s been a bit of a shortage of good content because of the strikes and that sort of thing,” said Mark Shaw, owner of Shaw Theatres in Singapore. “And also, during the pandemic, we lost some of the audience. Trying to get that audience back into theaters is a bit of a challenge.”

“Whenever we have a [blockbuster] film — whether it be ‘Barbie’ or ‘Super Mario’ … records are set,” added Bill Barstow, co-founder of ACX Cinemas in Nebraska. “But we just don’t have enough of them.”

During an industry think-tank panel on Wednesday, Disney distribution executive Cathleen Taff defended the company’s decision to delay certain movies — including the animated film “Elio” and a live-action remake of “Snow White” — to 2025, explaining that at least some of those titles were not finished in time for a 2024 release.

“From a studio perspective … we need to walk in tandem together,” Taff said.

Advertisement

“We have to pick some good dates and we had to do those shifts. And of course we thought about the theaters, but the reality is we’re not going to release an unfinished film.”

An additional issue affecting owners of independent theaters and smaller chains is studio-imposed three-week minimum runs for major movies. Multiple exhibitors told The Times that these businesses can’t afford to let one movie to take up a screen for three weeks because there simply isn’t enough population where they operate to fill seats for that long.

“If you run it for two weeks, the community has already seen it,” said Colleen Barstow, vice president of ACX Cinemas.

“There is no need to require three-week or longer commitments,” said Chris Johnson, chief executive of Classic Cinemas in Illinois. “If you have a hit, we will hold it.”

The next frontier: ‘alternative content’

One way that exhibitors are trying to fill the void of studio releases is by showing “alternative content” — from reissues of beloved films and screenings of TV shows to musical performances and sporting events.

Advertisement

The best example of this phenomenon is AMC Theatres’ distribution of Taylor Swift’s “The Eras Tour” and Beyonce’s “Renaissance.”

Fathom Events, which has been in the business of alternative content for decades, is going further by attaching live and pre-recorded Q&As to their screenings, as well as handing out collectible merchandise as an extra incentive for audiences.

“You go to go to a regular movie, you buy the ticket, you watch the movie — I don’t mean to demean the movie experience by any stretch of imagination — but that’s pretty much it,” Nutt said. “With us, you are going to … get something special.”

Larger companies such as AMC have been partnering with studios to level up their merchandise game as well. See: the infamous “Dune 2” popcorn bucket, which inspired Disney to promise at CinemaCon to deliver a must-have “Deadpool 3” popcorn bucket.

“There are some studios that inadvertently make crude and rude popcorn buckets,” joked Marvel Studios president Kevin Feige during Disney’s presentation. “And then there are popcorn buckets designed by Deadpool.”

Advertisement

Business

Feud between Vegas gambler and Paramount exec sparks $150-million fraud lawsuit

Published

on

Feud between Vegas gambler and Paramount exec sparks 0-million fraud lawsuit

The high-stakes feud between Paramount Skydance President Jeff Shell and Las Vegas gambler and self-professed “fixer” Robert James “R.J.” Cipriani spilled into court on Monday.

Cipriani filed a lawsuit against Shell on claims of fraud and eight other counts, alleging that he reneged on an oral agreement to develop an English-language version of a Spanish music show that streams on Roku TV.

He is seeking $150 million in damages.

In the 67-page lawsuit, filed in Los Angeles County Superior Court, Cipriani claims that in exchange for providing “sophisticated, high-value crisis communications services, entirely without compensation” over 18 months, Shell had agreed to develop the show “Serenata De Las Estrellas,” (Star Serenade), but failed to do so. Cipriani and his wife were to be named as co-executive producers.

“This case arises from the oldest form of fraud: a powerful man took everything a less powerful man had to offer, promised to repay him, lied to him when he asked about it, and then refused to compensate him at all,” states the complaint.

Advertisement

Cipriani — who has producer credits on a 2020 documentary about Vegas, “Money Machine: Behind the Lies,” and the 2015 movie “Wild Card” — intended to make “Serenata” as a “lasting legacy for his mother,” Regina, saying the effort “has been the driving force and the most important thing consuming [Cipriani’s] entire life of almost sixty-five years,” according to the suit.

The show was inspired by a song that the Philadelphia-born Cipriani used to sing to his late mother when he was growing up.

The litigation is the latest twist in a simmering behind-the-scenes scandal that has left much of Hollywood slack-jawed.

For weeks, Cipriani had threatened to file a lawsuit against Shell, with the potential to derail his comeback at Paramount, three years after he lost his job as NBCUniversal’s chief executive over an inappropriate relationship with an underling.

Cipriani’s suit alleges Shell wasdesperate for help in quelling negative stories about him.

Advertisement

It also portrays him as someone who was indiscreet, allegedly sharing sensitive information during the period when the Ellison family, through Skydance Media, was preparing to close its deal to acquire Paramount and then was actively pursuing Warner Bros. Discovery to add to its growing entertainment and media empire.

The eventual rift between the unlikely pair began in August 2024. Patty Glaser, the high-powered entertainment litigator, convened a meeting between the two men.

During the meeting with Shell, the executive expressed to Cipriani his concern that emails and texts between him and Hadley Gamble, the CNBC anchor Shell had been involved with, would come out, saying “that would absolutely destroy me,” according to the suit.

Cipriani claims in his lawsuit Shell was facing “catastrophic personal exposure arising from his conduct toward yet another woman in the media industry,” similar to what had prompted his ouster from NBCUniversal and that he “solicited” his “crisis communications services.”

According to the suit, Cipriani was in a position to help him, having engaged in a “longstanding practice of exposing misconduct in the entertainment and media industries.”

Advertisement

Robert James “R.J.” Cipriani in Amazon Prime Video’s 2025 series “Cocaine Quarterback.”

(Courtesy of Prime)

A high-rolling blackjack player, Cipriani’s colorful résumé includes aiding the FBI in the arrest and conviction of USC athlete-turned global drug kingpin Owen Hanson, who was sentenced to 21 years in federal prison, and filing a RICO suit against Resorts World Las Vegas.

Leveraging his “unique media relationships and industry influence,” Cipriani said in his complaint that he provided Shell with “ongoing threat-monitoring and intelligence services,” and “took proactive steps to suppress, redirect, or neutralize” negative coverage against Shell before publication.

Advertisement

Cipriani said Shell expressed “effusive gratitude” to him after he planted a story about another entertainment industry figure “in order to divert media attention” away from Shell. “Thank you thank you thank you,” Shell wrote in a text to Cipriani, according to the lawsuit, which included a copy of the text.

During tense negotiations over Paramount’s streaming rights for the highly successful “South Park” franchise last summer, Shell allegedly asked to talk to Cipriani about the matter. Cipriani then “orchestrat[ed] the placement of a highly favorable news article,” that was “devastating to Shell’s and Paramount’s adversaries in the dispute,” the suit states.

After a story published in a Hollywood trade, Cipriani wrote to Shell on WhatsApp, “I’m the one that put the article out for you!!!” and “I didn’t want to tell you till it hit so you have plausible deniability.”

According to a message cited in the lawsuit, Shell responded, “I love you!!!! …Thank you Rj,” adding “I owe you dinner at least!”

Despite those boasts, Paramount ultimately paid “South Park” creators millions more than Skydance had intended. To remove obstacles from Skydance’s path to buy Paramount, the media company agreed to two blockbuster deals that include paying the “South Park” production company more than $1.25 billion to continue the cartoon — making it one of the richest deals in television history.

Advertisement

During the course of their relationship, Cipriani further alleges that Shell alerted him to a then-pending $7.7-billion Paramount deal for the rights to UFC fights, while Netflix “believed” it had a “handshake deal” for the same rights, according to the suit.

Cipriani disclosed in his lawsuit that he filed a whistleblower complaint with the Securities and Exchange Commission over the disclosure of material information, claiming that Shell told him that not even UFC President Dana White knew of the transaction. In a WhatsApp message cited in the lawsuit, Shell told Cipriani that the deal was “very hush, hush until we sign.”

While the gambler continued to provide his services to Shell gratis, their relationship began to sour.

Cipriani became enraged that Shell did not uphold his end of the alleged deal to help him with the TV show, viewing it as a slap to him and his mother.

In February, the pair met to resolve their growing dispute. According to the lawsuit, also in attendance was an unidentified entertainment attorney who had represented both men in separate matters.

Advertisement

Patty Glaser has been widely reported as having represented Shell and Cipriani. She introduced them in summer 2024, as The Times reported Saturday.

“We were presented with a draft complaint riddled with clear errors of fact and law,” Glaser said in a statement last week. “We will strongly respond.”

The February meeting did not go well.

Shell not only “refused to compensate” Cipriani, but also told him that he could not “assist” him “in obtaining a television show or other entertainment industry opportunity.”

Cipriani further alleged in his lawsuit that during their “failed summit,” Shell revealed his “disdain” for David Zaslav, the Warner Bros. Discovery CEO, and disclosed that Paramount intended to “sweeten” its pending hostile offer for the studio to fend off Netflix prior to announcing its intention to do so publicly.

Advertisement

After the meeting, Cipriani stated in his complaint that Shell’s attorney privately offered Cipriani a “$150,000 personal loan” to resolve the dispute.

Continue Reading

Business

With a big $46-million opening for ‘Hoppers,’ Disney and Pixar see a return to form

Published

on

With a big -million opening for ‘Hoppers,’ Disney and Pixar see a return to form

Walt Disney Co. and Pixar’s “Hoppers” took the box office crown this weekend in an encouraging sign for the company’s original animated films.

The film generated $46 million in ticket sales in the U.S. and Canada, marking the highest domestic opening for an original animated movie since 2017’s “Coco,” according to studio estimates. The global box office total for “Hoppers” was $88 million.

The zany movie features a young environmental advocate who “hops” her consciousness into a robotic beaver and bands together with other woodland creatures to stop a planned freeway expansion through a glade.

The film is directed by Daniel Chong, who created the Cartoon Network animated series “We Bare Bears.”

The muscular debut for “Hoppers,” as well as the strong performance from Sony Pictures Animation’s “Goat” last month, has been a positive sign for audience interest in original animated films.

Advertisement

Since the pandemic, theatrical returns for animated sequels have far surpassed that of original films. Disney’s “Zootopia 2,” for instance, has grossed more than $1.8 billion in global box office revenue, with more than $426 million domestically. Disney and Pixar’s 2024 hit “Inside Out 2” also crossed more than $1.6 billion globally.

By contrast, Disney and Pixar’s 2025 original film “Elio” brought in about $154 million in worldwide box office revenue.

Original films are vital to Pixar’s future, as the Emeryville, Calif.-based studio built its reputation on its string of nearly uninterrupted original blockbuster hits, including 1995’s “Toy Story” and 2004’s “The Incredibles.”

Paramount Pictures and Spyglass Media Group’s “Scream 7” came in second at the box office with $17.3 million in its second weekend in theaters. Warner Bros. Pictures’ “The Bride!,” Sony’s “Goat” and Warner Bros.’ “Wuthering Heights” rounded out the top five at the box office, according to data from Comscore.

With several strong releases, as well as popular holdover films from 2025 that continue to bring in revenue, the first few months at the box office have been a notable improvement over last year’s dismal first quarter.

Advertisement

Domestic box office revenue so far is up more than 12% compared with the same time period in 2025, according to Comscore.

Continue Reading

Business

Hundreds of applications, no jobs and AI competition: California’s brutal tech work landscape

Published

on

Hundreds of applications, no jobs and AI competition: California’s brutal tech work landscape

Laid-off tech worker Joseph Tinner has spent almost a year hunting for a job. It has been a depressing crash course on the sea change in Silicon Valley.

The former product instructor from the San Francisco Bay Area has ridden the tech wave throughout his career, easily jumping from Verizon to Fitbit to Workday. Since losing his job early last year, the 59-year-old has hit a wall.

He applied for hundreds of roles — sometimes going through multiple rounds of consideration — only to get rejected again and again.

“It’s been a roller coaster,” he said. “It just takes a lot of resilience, honestly, to be in this job market.”

He isn’t alone.

Advertisement

Tech companies that aggressively hired during the COVID-19 pandemic have been slashing tens of thousands of jobs. For workers like Tinner, it has been a rough realization that the Silicon Valley shakeout is stretching into another year.

Just last week, Block — the financial tech company that owns payment services Square, Cash App and Afterpay — said it is laying off 4,000 people, or half of its workforce.

Many other tech companies outside the hot artificial intelligence sector are slashing staff. Block blamed AI, saying the powerful technology means it no longer needs as many people.

“The intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company,” Jack Dorsey, the co-founder of Block and a founder of Twitter, said in a post on X.

U.S.-based tech employers announced more than 33,000 job cuts from January to February, up 51% compared with the same period last year, the outplacement firm Challenger, Gray & Christmas said Thursday.

Advertisement

Andy Challenger, workplace expert and chief revenue officer for the firm, said he used to be skeptical that companies could replace workers with AI, but he’s starting to become convinced.

“Artificial intelligence has overtaken the attention of these companies in such a dramatic way,” he said.

Mass layoffs in the tech industry started in 2022, after a hiring surge during the pandemic, when demand for online services increased as people were stuck at home.

But many of the world’s most powerful tech companies have continued cutting, even as their profits have grown. They’ve cited various reasons for layoffs, from strategic shifts and restructuring to pivoting to smaller teams and fewer managers.

An advertisement promoting an AI-powered company is seen downtown on Thursday, Oct. 16, 2025 in San Francisco, CA.

Advertisement

(Manuel Orbegozo/For The Times)

Tech companies such as EBay, Meta, Google, Autodesk, Pinterest, Salesforce and others have been shrinking their workforces. Layoffs have also hit the media and entertainment companies, including Los Angeles video game developer Riot Games.

On LinkedIn, laid-off workers who have been out of work — some for more than two years — have been asking for help finding a job. They’ve been sharing stories about their financial and emotional struggles, including losing their confidence, homes and savings as they search for work.

Tech workers who have seen their employers grow over the last decade have noticed a shift in corporate culture. Workers who have been laid off before said it has been tougher and taken longer to land a new job than in previous years.

Advertisement

A longtime Salesforce employee, who was recently laid off and asked to remain anonymous, concerned that speaking to the media could affect their severance, said the sales software company used to be more focused on helping its employees. Salesforce broadcast this value by highlighting its “ohana,” culture, using the Hawaiian word for family.

“I was just incredibly grateful every day to be able to wake up and make a positive change in the world,” the worker said. “I thought that the company was devoted to the same thing.”

But the tone at Salesforce shifted in 2023 as the company faced pressure to cut costs and increase profits. New leaders came in, and the focus changed.

“The company is trying to erase any semblance of the way that it used to be,” the worker said.

Salesforce has said AI is helping it squeeze more profit from fewer people.

Advertisement

“AI is doing 30% to 50% of the work at Salesforce now,” the company’s co-founder and Chief Executive Marc Benioff told Bloomberg.

Salesforce didn’t respond to a request for comment.

Marc Benioff, CEO of Salesforce Inc., during a Bloomberg Television interview at the World Economic Forum in Davos,

Marc Benioff, CEO of Salesforce Inc., during a Bloomberg Television interview at the World Economic Forum in Davos,

(Bloomberg/Bloomberg via Getty Images)

Although technology is changing the way people work, experts and even some AI executives think companies sometime use AI as an excuse to cut workers in what’s referred to as “AI washing.”

Advertisement

Enrico Moretti, a professor of economics at UC Berkeley, said other factors besides AI are fueling layoffs. As a company grows larger and matures, it doesn’t hire as much as before.

“It’s a shift in their position and the maturing of their product, and therefore the technologies and their employment needs,” he said.

Roger Lee, an entrepreneur who created a website to track layoffs, Layoffs.fyi, in 2020, said in an email that tech companies are pouring billions of dollars into AI investments, and cutting headcount helps offset those costs.

When he started tracking layoffs six years ago, Lee wanted to create awareness around tech layoffs and help laid-off workers find their next job. He never anticipated the layoffs would continue today.

“I do think 6 years of persistent layoffs have led many tech workers to re-evaluate the perceived ‘safety’ of tech jobs and their relationship with the industry overall,” he said in an email.

Advertisement

According to Layoffs.fyi’s latest count, there have been more than 35,000 layoffs in the tech sector worldwide so far this year.

Close to half of that total is from Amazon alone.

Unemployed tech worker Tinner was laid off from Workday, a Pleasanton company that provides a platform to businesses, universities and organizations to manage payroll, benefits, finances and other tasks.

In 2025, Workday slashed roughly 1,750 jobs, or 8.5% of its global workforce, citing a prioritization of investments in artificial intelligence and platform development. Then in February, the company said it plans to cut 2% of its workforce, or roughly 400 employees.

As job cuts pile up, Tinner is up against intense competition in a job market flooded with talent from the top companies in tech.

Advertisement

As he ponders his next career steps, he’s also redefining his identity and relationship with work.

He’s even tried pouring beer for fun or thought about doing more artwork.

“Maybe what I need to do is just celebrate all I’ve done instead of getting back into this rat race, on this treadmill, and look for something totally different,” he said.

Advertisement
Continue Reading
Advertisement

Trending