PRO Tip Sheet: 5 Insights From This Week

Plus: An Exclusive Offer for Our Most Dedicated Readers [66% Off Annual WrapPRO Memberships]( Thanks for being a loyal Wrap reader! This exclusive offer is for you, for today — an opportunity to access deeper, richer narratives and insightful perspectives, and enjoy an uninterrupted, ad-free reading experience at a greatly reduced rate. [Use Promo Code: WRAP49]( [SUBSCRIBE TODAY]( 5 Insights From WrapPRO This week on WrapPRO, we worried about the future of live theater in California, contemplated the feminist critique of "The Idol," and marveled at the "Barbie" marketing machine. 1. [It’s ‘Barbie’ Marketing Mania at Warner Bros. and Even Competitors Are in Awe]( By Kristen Lopez & Scott Mendelson | Source: [WrapPRO]( - The Barbie-themed marketing campaign extends beyond the movie's core fan base, encompassing a variety of products such as a Barbie-themed Xbox, home accessories and beauty products, aiming to create a world viewers can adapt to their own homes. - Embracing meme culture and utilizing an AI-generator for personalized posters, the film's marketing strategy is compared to Disney's approach with their Princesses line and "Star Wars," emphasizing nostalgia and lifestyle branding. - The film's marketing strategy has succeeded in reaching diverse demographics and age groups, including gamers and older homeowners, indicating a potentially wider audience than traditional Barbie fans. - Despite saturation concerns, early tracking predicts a $70 million opening weekend for the "Barbie" movie, with insiders believing that the extensive marketing campaign is further boosting the film's visibility. [Keep Reading]( 2. [HBO’s ‘The Idol’ Is ‘Hostile to Feminism,’ Media Experts Say]( By Kayla Cobb & Loree Seitz | Source: [WrapPRO]( - HBO's latest drama, "The Idol," is facing criticism from feminist voices and media councils for its depiction of female sexuality and regressive portrayal of its female protagonist, pop star Jocelyn (played by Lily-Rose Depp), who's seen as disempowered and exploited. - The show's depictions, from explicit scenes to Jocelyn's objectification, are said to undermine women's agency, with critics including the Parents Television and Media Council and feminist scholars questioning the series' fit within HBO's legacy of female-empowering shows like "Sex and the City," "Girls," and "Insecure." - "The Idol" underwent a major overhaul involving significant reshoots and investment estimated between $54 to $75 million, following the exit of its original director, Amy Seimetz, who was reportedly leaning too much into a "female perspective." Critics argue that this move indicates a conscious decision to suppress feminist elements within the series. [Keep Reading]( [Save 66% on an annual subscription](and join the ranks of high-powered industry leaders who read WrapPRO every day. Want unlimited access to in-depth reporting, analysis, and industry data?[Use promo code Wrap49](and upgrade to a subscription today. 3. [Video Game Music Is Big Business - and Hollywood Is the Last to Score]( By Robert Carnevale | Source: [WrapPRO]( - The Game Awards 10-Year Concert at L.A.’s Hollywood Bowl signifies an emerging recognition of video game music on par with TV and film scores, with appearances from industry veterans like Lorne Balfe and Gustavo Santaolalla. - Video game music budgets have grown substantially, now often ranging from $500,000 to $600,000, comparable to music budgets for midrange major film releases, indicating parity in the industry. - Jeremi Valiquette, founder and president of 1E Avenue Music Agency, highlights a significant shift over the past decade where Hollywood composer agencies have recognized the financial potential of game scoring, adding to its growing legitimacy. [Keep Reading]( 4. [A Prime Video Ad Tier Could Be a Cash Cow for Amazon]( By Lucas Manfredi | Source: [WrapPRO]( - Amazon is considering introducing an ad-supported tier of its Prime Video service, which could generate an estimated $4.8 billion a year with a 50% profit margin by 2025, according to Morgan Stanley. - Prime Video has seen a considerable rise in viewership, with over 175 million of more than 200 million Prime members streaming video content in 2021. However, customer breakdown between full or video-only subscriptions remains undisclosed. - The profitability of an ad-supported model for Prime Video depends on consumer adoption of a higher-priced, ad-free tier, continued content investment, and Amazon's AI and consumer data boosting ad performance. - Amazon's advertising revenue saw a 21% year-over-year increase in Q1 2023 to $9.5 billion, and experts predict that an ad-supported Prime Video could push this figure to $100 billion by 2030. [Keep Reading]( 5. [California’s Devastated Live Theater Industry Hopes for a Bailout: ‘We’re All Dying’]( By Brenda Gazzar | Source: [WrapPRO]( - The performing arts sector, a significant contributor to the California economy, is facing severe financial distress, with the nonprofit Open Fist Theatre Company, for instance, losing about $20,000 a month and having to scale back its productions due to COVID-19, rising costs and tight employment rules. - California's arts sector has historically been underfunded and now, coupled with the pandemic, a "double hit" has been experienced, causing closures of numerous longstanding theater venues and a radical scaling back of productions. The state ranks 15th in per capita arts funding. - A CVL Economics study found that employment in the state's live performing arts sector grew 43% between 2001 and 2019, but lost a decade's worth of job growth during the pandemic. This sector, even at reduced levels, contributes $6.2 billion annually to the state economy, with potential losses of $4.1 billion in tax revenue between 2020 and 2023 if the current trend continues. [Keep Reading]( With a focus on delivering actionable intelligence, the PRO Tip Sheet empowers readers to stay ahead of the game in the industry. Want to go deeper? [Subscribe to WrapPRO today](. [SUBSCRIBE TODAY]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Unsubscribe](