The 11th Hour Dispatch – Thursday, April 19, 2018

| April 19, 2018

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BINGE WATCH

Netflix has reportedly considered purchasing movie theaters in New York and LA to make it easier for the streaming giant to screen its films and make them eligible for Academy Awards. Theaters considered include Mark Cuban-owned Landmark Theatres, but Netflix has reportedly backed out of the deal consideration because “executives believed the sale price for Landmark was too high.” A move toward brick-and-mortar theaters would be a major move for not just Netflix but for the OTT generation of entertainment as a whole. Traditional film has stuck its snooty little nose up to streaming cinema, and this would be a big push back. A Netflix-owned theater could also help the streaming service attract new filmmakers, as it would give them a unique opportunity to not only have their films listed on (and marketed by) the biggest streaming service in the world, but to also screen their movies in a traditional cinema circumstance on top of that. Netflix, please get on this ASAP so you can start scheduling bingewatch festivals in their theaters, because I’ll buy tickets so fast.

YOUNG MONEY

Philip Morris, the seller of Marlboro cigarettes for international markets, absolutely nosedived today after sales of iQOS, a product that heats a cigarette without igniting it, slowed in Japan. The company’s revenue (excluding excise taxes) came in at $6.9 billion, a considerable amount less than the $7.03 billion that was projected by analysts. That’s the biggest share decline since Philip Morris left Altria Inc. in 2008. After a tumultuous day (Philip Morris decreased in value as much as 18% at some points), the stock closed down 15.58%. Despite this, Bonnie Herzog, a Wells Fargo & Co. analyst, said that she isn’t concerned because Q1’s results reflect “iQOS entering a more mature phase of growth” that “doesn’t detract from its strong growth prospects globally.”

BIG BUSINESS

Four million unique users used my new personal favorite Snapchat lens — the Crocs lens that turns your head into an ugly clog — in its first 10 days on the app. If you want to the chance to win a $400 Crocs prize package, you can upload your shoe selfie to Crocs’ photo contest. Otherwise, just have a ball sending ridiculous Snaps to your friends, family, and friendly pet rhinos with your face in the ankle hole of a Croc. “Seeing how much fun our fans are having and how many Snaps are being entered into our contest confirms this was a great decision for our consumers,” Crocs CMO Terence Reilly told AdWeek. 

NOTHIN’ BUT ‘NET

Somebody stole $50,000 worth of tractors from Scottie Pippen’s farm in Arkansas, and we’re all really torn up about it.

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