Connect with us

Entertainment

Netflix Passes Disney in the Stock Market, Here’s What This Could Mean for the Entertainment Industry

Published

on

  • Netflix passed the Walt Disney Company in the stock market, signaling what could be a potential shift in the entertainment industry as lockdowns continue. 
  • As streaming becomes a go-to form of media consumption, Netflix has already seen massive success with projects like Tiger King.
  • In the next few months, other major new shows and movies are slated for release, making it one of the few platforms regularly releasing new, original content right now.
  • Meanwhile, traditional studios and movie theaters have been put on hold and are looking at the future. Right now, plans for reopening theaters could include half capacity seating and playing old classics if new releases continue to be delayed.

Netflix Passes Disney

Netflix passed the Walt Disney Company in the stock market in a move that could be very telling about what is to come for the entertainment industry as the country, and much of the world, stays at home.

On Tuesday night, Netflix closed up 3.2% with a market capitalization of $187.3 billion. Disney’s market cap sat just under at $186.6 billion, and closed by going up 2.5%. This could be a significant step up for Netflix as investors see potential for streaming to shine and traditional studios to fall behind as people are stuck at home. 

According to Forbes’ Tom Nunan, this is something that could have long-term impacts on Netflix.

“For Netflix itself, a high market cap not only means it’s worth more and will therefore have greater resources at its disposal to invest in programming and distribution,” Nunan wrote, “but the company’s leadership – – Reed Hastings and Ted Sarandos – – can rightly congratulate themselves for creating a streaming service that the world loves and uses so much…it’s now worth more than the Magic Kingdom.”

As streaming becomes the thing to do in lockdown, Disney does have a horse in the race. Its service Disney+ has seen boosts since stay at home measures began, but for the media giant, Disney+ is just a small piece of its puzzle. The company is also home to huge blockbusters, theme parks, hotels, cruises, retail, and other branches that usually rake in money, but are relatively dormant right now. As a result, the company has furloughed employees in multiple departments. 

For Netflix, however, streaming is its meat and potatoes, and its appetizer and dessert, too. Meaning that while other studios lie in wait, it has the chance to take the spotlight. 

What Lies Ahead for Netflix

In many ways, it already has. According to data shared with Business Insider, visits to its sign up page have seen quite the surge. Throughout the whole month of March, “visits to Netflix’s US sign-up page rose year over year” by significant amounts. In the second week of of the month, when social isolation started to become the new normal, visits to the page rose by almost 40%.

In the third week, when stay-at-home measures became widespread, it was up 123%. Traffic on the sign-up page has remained at an increase of over 100% since then. 

While not everyone visiting the sign-up page may actually sign up, it’s safe to assume that a good chunk do, and the increases at least signify an elevated interest in the platform. And as subscribers go up, Netflix is also faced with the challenge of putting up new content. 

For the most part, Netflix is in the same boat as most major studios when it comes to current productions being put on pause. But, it still has an advantage, because its strategy ensures that there are almost always a plethora of new projects coming down the pipeline, making it one of the few places audiences can regularly stream new content right now. 

Between now and the end of April, there are several new releases for Netflix originals, including a new show from Mindy Kaling titled Never Have I Ever, a Ryan Murphy documentary called Circus of Books, a Chris Hemsworth-led action film called Extraction, and The Willoughbys, which is an animated feature with a star-studded voiceover cast. 

The month of May will bring more new content, including another Ryan Murphy project starring Darren Criss called Hollywood; and a limited series titled The Eddy, which comes from Oscar-winning La La Land director Damien Chazelle. 

So far, new content has served Netflix well during lockdown measures. It’s jaw-dropping docuseries Tiger King saw 34 million views in its first ten days and was the most-streamed title on the platform for two weeks. Buzz on social media generated a lot of interest for the series, which ended up getting a bonus episode shot in isolation. Comedian Joel McHale hosted a reunion among many of the documentary’s participants via web chatting, showing that the streaming giant knows how to capitalize on its quarantine popularity right now.

Movies Plan for the Future

While Netflix is seizing the day, pretty much the rest of the film industry is spending their time planning for the future. Movie theaters and studios are deciding what the plan should be when they return back to normal. But it’s still unclear what that “normal” might actually look like. 

As things currently stand, no big pictures are set to hit theaters until mid-July when Mulan and Tenet hit screens, assuming they do not get further delayed. With these dates in mind, Cinemark, one of the largest theater chains in the country, is developing a game plan to open its doors. 

According to CNBC Cinemark is looking to let people back in, but only filling theaters up to 50% of their capacity. They are also considering implementing staggered seating arrangements to allow for social distancing. If movies keep getting pushed back and a lack of new films end up being an issue, they could also dive back into their library and get audiences by playing some of the classics.

While opening up theaters to only partially filled crowds sounds like a financial risk, Cinemark maintains that this will be profitable. They claim they can easily profit if only under a third of the available seating is full, and have even turned profits when turnouts are as low as 10%. 

See what others are saying: (Variety) (Vanity Fair) (The Verge)

Entertainment

Durte Dom Returns To TikTok Following Sexual Assault Accusation Levied Against Him

Published

on

  • YouTuber Dom Zeglaitis, a former member of David Dobrik’s Vlog Squad known online as Durte Dom, returned to the Internet less than one month after he was accused of sexually assaulting a woman in 2018 who was too drunk to consent.
  • Zeglaitis has not issued a response to the allegation, but in the past three days, he has posted a dozen TikToks that mostly consist of short sketches and jokes he filmed with friends. 
  • One post shows Zeglaitis participating in the “Bulletproof” challenge, with text in the clip reading, “You think you can hurt my feelings?!? I got kicked out of the Vlog Squad for…”
  • Several people, including major creators like Tana Mongeau and Ethan Klein, are now calling him out for seeming to make light out of a serious situation.

Durte Dom Returns To Internet

Former Vlog Squad member Dom Zeglaitis, also known as “Durte Dom,” has resumed posting on social media after nearly a month of silence since he was accused of sexual assault. 

A woman told Insider in March that Zeglaitis raped her while she was too drunk to consent to sexual activity in 2018. She said that she and her friends were hanging out with YouTuber David Dobrik’s Vlog Squad at the time. The accuser, who was under 21 the night of the alleged assault, claimed the group supplied her and her friends with alcohol. 

The fallout of this allegation has been significant. While Zeglaitis has yet to respond to it, Dobrik has issued multiple apologies and faced most of the financial repercussions as frontman of the group. Both Zeglaitis and Dobrik were later demonetized by YouTube. Dobrik also lost multiple sponsorship deals and bowed out of Dispo, a photo-sharing app he co-founded. He is now taking a break from YouTube and social media. 

Though Zeglaitis has returned to the Internet, he is still largely ignoring the sexual assault accusation levied against him. He specifically began posting on TikTok over the weekend, and since then has posted roughly a dozen videos on the platform. 

Durte Dom Jokes About The Vlog Squad on TikTok

Most of the videos are short sketches or comedy bits with his friends. In one, he and a friend are going through Omegle while Zeglaitis is off-screen. The friend asks the people on the other end of the chat “What are your thoughts on Durte Dom?” before Zeglaitis enters the shot.

Several of the videos continue to reference Zeglaitis’ sleazy, womanizing, reputation. One shows him claiming to have “smashed” adult film star Riley Reid. In another, he is sitting on a lounge chair throwing money at girls dancing next to him. 

The video generating the most attention, however, is his take on the viral “Bulletproof” challenge. That TikTok features him standing below a text block that reads “You think you can hurt my feelings?!? I got kicked out of the Vlog Squad for…” while the song “Bulletproof” plays in the background.

@dominykas

bruh why they kick me out?!? 😐😵 @daviddobrik #vlogsquad #foryou #tiktok

♬ original sound – DurteDom

In the caption of that video, he tagged Dobrik and asked “bruh why they kick me out?!?”

Creators Call Out Zeglaitis for Ignoring Allegation

This specific TikTok caught the attention of major creators, including Tana Mongeau and Ethan Klein, who dueted that video to call Zeglaitis out. 

“Someone please make this make sense to me,” Mongeau wrote.

“This mf serious?” Klein said.

They are not the only ones frustrated with Zeglaitis. Many responded to the video in the comment section shocked he was posting at all, bringing up the sexual assault allegation, and urging him to not treat it as a joke. 

The comment sections on the rest of his videos are similarly flooded with people who are outraged that he is posting regular content as though nothing had happened.

See what others are saying: (Insider)

Continue Reading

Entertainment

TikToker Neumane Called Out for Copying Content From Smaller Creators

Published

on

  • Kane Trujillo, a comedy TikToker known as @neumane, is facing backlash after fellow TikToker Joey Bailey posted a video noting that Trujillo has risen to popularity off content copied from several, often smaller, creators.
  • Bailey also shared an alleged audio message he received from Trujillo where he threatened Bailey to take his call-out video down before sending a second message promising to pursue legal action.
  • In a clip from a TikTok live stream, Trujillo addressed the controversy by saying that “nothing’s original” and seemingly admitting to copying.
  • “It’s not who made it first, it’s who does it better,” he said in the clip. “Who gives a f*ck about some little copied content? … I’m an actor. I’m not a writer, I’m not a f*cking storyteller…You give me a script, I will f*cking nail that sh*t. And I’m not gonna think of it, no, but I’m gonna make yours better.”

Stealing Accusations

Popular comedy TikToker Kane Trujillo, who has over 2.7 million followers and is known on the platform as @neumane, has been called out by fellow creators for a pattern of stealing content.

The latest creator sounding the alarm is Joey Bailey (@joey.bailey), who posted a video to the app on March 15 that showed Trujillo’s posts next to the original versions he appears to have replicated, often word for word and with nearly identical expressions.

Similar allegations regarding Trujillo were made on March 13 in a YouTube video from thatsjustchris.

@joey.bailey

they took this down so this is the last time I repost it

♬ original sound – Joey

In a follow-up TikTok and a longer YouTube video, Bailey went on to explain that he received an audio message from Trujillo through Instagram trying to get Bailey to take the call-out video down.

@joey.bailey

I got a lot of questions about the messages in the last post so heres the final update and that’s it

♬ original sound – Joey

“You can kindly take it down and we can just, you know, be cool and move on from all this sh*t, or you could just leave it up and have a lot of enemies from here on out,” the voice that allegedly belongs to Trujillo can be heard saying in the audio.

Bailey said he privated the video after that because he “didn’t want to become the drama TikToker,” but he eventually changed his mind, arguing that he wasn’t starting drama, he was just standing up for himself.

After he unprivated the video, he said Trujillo sent him another message promising to pursue legal action.

“As of today me & my management team will be proceeding with a False Accusation lawsuit against you. I wish we didn’t have to go this far but you leave me no choice,” that message read.

Copied Creators Express Mixed Feelings

In total, at least several creators appear to have had content copied by Trujillo: @nuhchez, @ty_t.v, @brodiefalgoust, @dawson.taylor1, @licout, @lemmuelmamotsau, and @joey.bailey.

In statements to The Daily Dot, some of those creators essentially said they’ve accepted that this is something that happens on TikTok.

“This is something I’ve come to accept because sadly TikTok is an app that will push stolen content and Suppress originality!” Natchez Ballinger (@nuhchez) told the outlet in an email. “Creators have stolen from me since I’ve joined the app, I take it as flattery in a way.”

“I mean yeah he did steal my video and it became more popular but it’s TikTok,” Dawson Anderson (@dawson.taylor1) told the outlet via Instagram. “I don’t really care all that much it’s a video trend not worth crying over.”

Still, others were much more frustrated.

“The thing with him is that he doesn’t steal ideas, he steals the video word for word, uses the same sound, the same gestures, and even the same wording without giving any credit to the creator whatsoever,” Brodie Falgoust (@brodiefalgoust) told The Daily Dot via Instagram. “That is how he gained all of his following, and continues to do it still (even after being called out). I get ripped off all the time but It’s frustrating as a smaller creator who is constantly coming out with original content when a person with a big following comes and takes credit for your originality.”

“People take my ideas but any creator that has been bigger than me has given me credit!” Falgoust continued.

“There is [a] large difference between following a trend and ripping off someone’s work shot for shot and word for word,” said another creator who spoke to the outlet anonymously out of feat of legal retaliation.

“A lot of users do not understand how much work some of these creators are putting into original content. And for Neumane to hunt down those smaller creators and reproduce their successful content as his own without acknowledging credit is exasperating. The real issue becomes the money and opportunity he is being given by eating off of the backs of others.”

Neumane’s Response

In a clip of a TikTok live stream reviewed by The Daily Dot, Neumane addressed the controversy by saying, “nothing’s original.” He also seemed to admit to copying.

“Imagine showing hate to somebody on the internet,” Trujillo reportedly said during the live stream. “Like bro, just show love. Who gives a f*ck about some little copied content? Like, just make it good, and yours will get a lot of views. Do good expression, act well. I’m an actor. I’m not a writer, I’m not a f*cking storyteller. I’m an actor. You give me a script, I will f*cking nail that sh*t. And I’m not gonna think of it, no, but I’m gonna make yours better.”

A viral TikTok by @ttdramanews covering the allegations against Trujillo shared portions of that clip, which also shows Trujillo saying, “It’s not who made it first, it’s who does it better.”

According to The Daily Dot, Trujillo talked about people needing to show love, though commenters quickly pointed out that he’s the one threatening others with legal action.

See what others are saying: (The Daily Dot) (Joey Bailey) (thatsjustchris)

Continue Reading

Entertainment

Netflix Strikes Deal for Rights To Sony Movies Following Theatrical Releases. Yes, That Includes Spider-Man.

Published

on

  • Netflix has secured the exclusive rights to stream Sony films following their theatrical releases, per a reported $1 billion deal between the streaming giant and movie studio. 
  • While the full details of the deal have not yet been officially published, it will begin with Sony’s 2022 slate of films and reportedly last for the following five years.
  • The agreement means Netflix will eventually be granted streaming rights to popular Marvel characters such as Morbius, as well as Venom and Spider-Man once future installments are released. 

Netflix Reach Massive Deal With Sony

Netflix has struck a multi-year licensing deal with Sony Pictures Entertainment that will grant it exclusive streaming rights to the studio’s theatrical titles.

The terms of the agreement have yet to be officially disclosed, but according to multiple media outlets, Netflix will pay Sony over $1 billion over the course of the next four years. The deal itself is set to begin with Sony’s 2022 slate and will reportedly last five years, with Netflix holding streaming rights to individual films for 18 months. 

Given the nature of the COVID-19 pandemic, it’s unclear whether some films will continue to have their release dates pushed back. It’s also unclear how long their theatrical windows will last; however, once released, Netflix will acquire streaming rights to films such as “Uncharted,” “Where the Crawdads Sing,” and “Bullet Train.”

Netflix Will Have Marvel Movies Once More

The deal will also grant Netflix access to a number of Marvel characters still owned by Sony. That includes the film “Morbius,” which is currently set to be released in January of next year.

It will also include future installments of the “Venom” and “Spider-Man” franchises, the latter of which is notable as it’s part of the Dinsey-owned Marvel Cinematic Universe. Outside of 2008’s “The Incredible Hulk,” Tom Holland’s “Spider-Man” films are the only other films set in the MCU that are not on Disney+. 

Prior to Disney+’s launch, Netflix held streaming rights to several MCU films, including “Black Panther,” “Thor: Ragnarok,” and “Avengers: Infinity War.” The shift of those massive blockbusters to another platform was a striking loss for Netflix, and the streaming service is no doubt itching to once again beef up its selection of superhero content.

It’s unclear whether or not the Sony deal will immediately allow Netflix to stream the upcoming films “Spider-Man: No Way Home” and “Venom: Let There Be Carnage” once they leave theaters. That’s because both are currently expected to be released later this year. 

That said, if sequels for these films are announced and can be expected to find their way to Netflix, the streaming giant will be able to acquire the rights to the films’ full library of installments, according to Deadline. Such a deal also exists for Jumanji’s library of movies. 

Sony’s Direct-to-Streaming Titles

Netflix will retain first-look rights to any of Sony’s potential direct-to-streaming titles, though that doesn’t necessarily mean it will acquire those films. Under that part of the deal, Sony still has the right to sell to other streaming platforms. 

While Sony has said it’s considering “a number” of direct-to-streaming releases, as Deadline projected, “in reality [that’s] likely just a couple a year and a minority of the studio’s overall slate.”

According to the Wall Street Journal, however, “Netflix has committed to ordering an undisclosed number of those films.”

See what others are saying: (Deadline) (Wall Street Journal) (IGN)

Continue Reading