The 11th Hour Dispatch – Monday, April 9, 2018
Netflix is offering up to $300 million for the billboard company Regency Outdoor Advertising, proving that even the biggest in digital still need a bit of analog to thrive. Regency owns billboards all across Los Angeles, including on the Sunset Strip, at Los Angeles International Airport, near UCLA, on several major freeways (which LA is definitely not short of), and close to the Los Angeles Angels’ stadium. While $300 million sounds like a pretty large chunk of change, this purchase would actually save the streaming service a considerable amount of money in marketing costs down the road. A single Regency billboard on the Sunset Strip, for example, can cost around $140,000 per month.
Rapper and actor Ice Cube’s Big3 basketball league is suing a group of Qatari investors for $1.2 billion. A lawsuit filed last Thursday alleges that investors from Qatar, which includes Sheikh Abdullah bin Mohammed bin Saud Al Thani, CEO of the state-owned foreign investment entity Qatar Investment Authority, attempted to take over the league by withholding millions to try to push out the league’s founders. The league, founded by Ice Cube and entertainment veteran Jeff Kwatinetz, ended its inaugural 10-week season of 3-on-3 half-court games in August. Its roster includes five dozen former NBA Players such as Allen Iverson, Julius Erving, and Amar’e Stoudemire. Cube is not pleased: “It’s like, god—- , man, we’re the newest, smallest thing with one season under our belt. Go after the big boys.” Yeah, Cube. Take down the man!
The Motion Picture Association of America (MPAA) included home entertainment numbers in its annual report for the first time ever thanks to newly appointed chairman-CEO Charles Rivkin. This puts the combined numbers between theatrical releases and home entertainment at $88.4 billion. Digital home entertainment, which includes streaming services like Netflix and Amazon, shot up 32.1% to $32.1 billion while physical home entertainment (i.e. DVDs — whatever those are) fell 15% to $15.7 billion. However, together, digital offset that fall by pushing total home entertainment spending up 11% to $47.8 billion, 43% of which came from the U.S. alone. Besides all this interesting info, here’s a bit of trivia to tuck in your brain for your next HQ game: the most rented DVD in 2017 was Ben Affleck’s The Accountant, which is absolutely baffling in the year of fan favorites Moana and Wonder Woman.
NOTHIN’ BUT ‘NET
Prince Harry and Meghan Markle have announced the seven charities to which they encourage donations rather than wedding gifts.