Bob Iger's Rosy Vision for Disney; Ryan Coogler and Michael B. Jordan team up again; Secret Screenings of Woody Allen's New Film

[View on web]( [New reader? Subscribe]( February 08, 2024 What's news: The Hidden Poverty Crisis at Universal Studios; A surprise Moana sequel to hit theaters in November; SAG-AFTRA releases a new contract adding pressure on video-game makers; Warner Music Group announces more layoffs; Joel Kim Booster on his new film, and why he prefers writing to acting.— [Julian Sancton]( Do you have THR's next big story? Confidentially share tips with us at [tips@thr.com](. Disney Earnings: Bob Iger Offers Optimistic Forecast ► Righting the ship. Disney CEO Bob Iger painted a rosy picture of the company’s future on an earnings call Wednesday, with a flurry of announcements about upcoming deals and projects (see below). Disney reaffirmed that its streaming business will be profitable this summer (its fiscal fourth quarter), as losses narrowed in the division thanks to higher revenue per user and efforts to control costs. The company, which is facing proxy fights with a pair of activist investors, said that its streaming business lost $216 million this quarter, down from $387 million last quarter, and from more than $1 billion a year ago. [The story.]( (DISNEY) PLUS: Disney [invests $1.5 billion]( in Epic Games; Iger reacts to Gina Carano’s Mandalorian lawsuit with [one word]( ESPN [sets a date]( for a stand-alone streaming product; Taylor Swift’s Eras Tour concert movie [heads for Disney+]( in a coup for the streamer. —Trouble in Barbieland. After the Barbie Oscar snubs for Margot Robbie and Greta Gerwig, Mattel has been getting negative reviews from activist investor Barington Capital. In a recent letter to Mattel, Barington advised the toy maker to fix or sell off its American Girl and Fisher-Price brands as part of possible strategic alternatives to raise its share price. In response, Mattel CEO Ynon Kreiz told analysts after reporting his fourth quarter results: "We believe we have a very strong portfolio." [The story.]( Inside the Hidden Poverty Crisis at Universal Studios ►“You think, ‘Am I going to I die here?’” Employees across Universal Studios tell THR’s [Gary Baum]( that making ends meet — always a challenge when earning an income at or close to minimum wage — has become more difficult in a time of high inflation and amid Los Angeles County’s affordable-housing crisis. “Everybody talks about it, it’s a constant battle, it’s tearing at us mentally,” says one single mother of four, noting that her colleagues have in recent years begun sharing stories of acute stress. “I’ve had panic attacks myself, numerous times, at work. [The story.]( —Fact-check. In a more light-hearted investigation into the theme park, [Chris Gardner]( learns that Sydney Sweeney wasn’t technically lying about working at Universal Studios years ago. [The story.]( —“Transparency, consent, and compensation.” As SAG-AFTRA remains locked in tense negotiations with video game giants, the actors’ union has released a new contract designed to cover a larger number of indie and lower-budget gaming projects and create “pressure” in the bargaining room with major companies. The union’s new Tiered-Budget Independent Interactive Media Agreement, announced on Wednesday, contains provisions — especially on AI — that major companies involved in SAG-AFTRA’s ongoing Interactive Media Agreement talks have resisted, according to SAG-AFTRA national executive director Duncan Crabtree-Ireland. [The story.]( —More layoffs. Warner Music Group plans to pink-slip about 600 staffers in an effort to free up more money for music investment across the next decade. The majority of impacted staffers, which represent 10 percent of the company, will be at the company’s owned and operated media properties, corporate and various support functions, as well as its in-house ad sales function. [The story.]( Joel Kim Booster Hopes His Next Movie Won't Be Emmy-Eligible ►Booster shot. The actor and writer, who will receive the SCAD TV Festival’s Rising Star Award, talks to THR’s [Seija Rankin]( about season 2 of Loot, as well as the follow-up to his Emmy-nominated Fire Island — Searchlight’s Again, Again, Again — a comedy about a gay man serving as man of honor for his closest female friend, which he hopes will get a theatrical release. “I don’t mean this to sound bad, but I’m much more attached to my writing than my acting,” he says. “My writing is very personal, whereas I can treat acting more like a ‘job.’ My investment is different.” [The story.]( —Back to school. Following the Wednesday premiere of Abbott Elementary’s third season, series co-showrunners Justin Halpern and Schumacker spoke to THR’s [Brande Victorian]( about that Jalen Hurts cameo, vetting guest stars and what the ABC sitcom’s success proves. “I hope that to executives and to businesspeople across our industry we have destroyed the fallacy that a show with a majority Black cast can’t be a four-quadrant hit and can’t make a ton of money for the company that is producing it,” says Halpern. [The story.]( —“An exciting new quest." Disney+ is making a return trip to Camp Half-Blood. The streamer has ordered a second season of Percy Jackson and the Olympians, its series based on the best-selling novels by Rick Riordan. Disney announced the pickup during its quarterly earnings call Wednesday, a week after the show’s first season concluded. [The story.]( —On the road again. Jason Momoa has struck a deal for a second season of his documentary series On the Roam with Max. The first season, follows the actor as he travels through the U.S. “chasing art, adventure, and friendship through the lens of craftsmanship.” Momoa [previously spoke]( with THR about the project and what motivated the self-professed “dirtbag” to ride his bike out to rural locales. [The story.]( Surprise ‘Moana’ Sequel Hitting Theaters in November ►You’re welcome. Moana and Maui are hitting the ocean once again. In a surprise move, Disney CEO Bob Iger announced that the company will release an animated sequel to the 2016 film that will hit theaters Nov. 27. Dave Derrick Jr., who worked on the original film as a story board artist, will direct the new sequel, which is separate from a live-action remake of Moana starring Dwayne Johnson. Abigail Barlow, Emily Bear, Opetaia Foa’i and Mark Mancina are writing the music. [The story.]( —Crimes and misdemeanors. Woody Allen’s latest — and perhaps last — film, the French-language Coup de Chance, does not have distribution in the U.S. And yet for cinephiles willing to overlook the director’s scandals, it’s the hottest ticket in town. [Jordan Hoffman]( reports on the sharing of samizdat links of the film, as well as a not-exactly-legal underground screening series that was (almost) attended by Timothée Chalamet. [The story.]( —Highest bidder. Warner Bros. has emerged as the victor for Ryan Coogler’s next feature film. Coogler wrote the script and will direct, with frequent collaborator Michael B. Jordan starring. Coogler is also producing via his production company, Proximity Media. Zinzi Coogler and Sev Ohanian are also producing. The acquisition caps off three weeks of intense interest from movie companies, with Universal and Warners ending up as the final two battling for the crown. Details are being kept hush-hush, but according to sources, the project has been described as a period thriller (some have said it takes place in the Jim Crow-era South) involving the undead. [The story.]( How Many Music Legends Can You Fit in One Photo? (Plus Tom Hanks) ►“Pinch me.” Before Clive Davis’ annual pre-Grammy gala, performers and presenters including Victoria Monét, Public Enemy, Green Day, Tom Hanks, Andra Day, Dionne Warwick, Jelly Roll, Rita Wilson, the Isley Brothers, Maluma and Lainey Wilson posed for a instantly iconic group shot, took selfies and broke out into "We Are the World." THR’s co-editor in chief [Nekesa Mumbi Moody]( reports from the high-wattage gathering. [The story.]( —Her heart does go on! Celine Dion, who has had to cancel her world tour following due to a rare neurological condition, earned a rousing ovation with surprise appearance at the Grammys. But her delightful impromptu backstage duet with singer-songwriter Sonyaé — who captured it on IG — proves the diva’s still got it. [The story.]( In other news... —Martin Scorsese makes his Super Bowl (and sci-fi) directorial debut with [a Squarespace ad](. —Mo’Nique [explains]( why Taraji P. Henson was the better “messenger” for Hollywood pay-inequality discourse. —Kevin Spacey’s House of Cards legal battle [takes a new turn](. —Harlan Coben reteams with Fool Me Once showrunner for Amazon's Lazarus, starring Bill Nighy. —BBC Studios Productions CEO Ralph Lee [to exit](. —[Cecilia Gentili]( Pose actress and LGBTQ Activist, dies at 52. ​​​What else we're reading... —Michael Schulman interviews Lily Gladstone about her Oscar nod, Native representation, and the worst and funniest thing you can say about someone in Blackfoot. [[The New Yorker]( —Alex Kirschner asks whether Adam Neumann can pull off a WeWork comeback. [[Slate]( —Keith Stuart why the $180 billion gaming industry is shedding thousands of employees [[Guardian]( —Kate Knibbs meets the Serbian-born king of AI-generated clickbait king, who wants you to know he's a nice guy. [[Wired]( Today... ...in 1991, Tri-Star unveiled the zany L.A. Story in theaters nationwide, featuring Steve Martin as an existential local weatherman. [The original review.]( Today's birthdays: Mary Steenburgen (71), Nick Nolte (83), Seth Green (50), Henry Czerny (65), Cecily Strong (40), John Williams (92), Quintessa Swindell (27), John Grisham (69), Dawn Olivieri (43), Pooch Hall (47), [Niels Arestrup]( (75), Kathryn Newton (27), Toby Emmerich (61), Larry Clarke (60), Ted Koppel (84) This email was sent to {EMAIL} by The Hollywood Reporter. Please add email@email.hollywoodreporter.com to your address book to ensure delivery to your inbox. Visit the [Preferences Center]( to update your profile and customize what email alerts and newsletters you receive. 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