OpenAI Is Vulnerable, Cinemark Sees Future in Nontraditional Films and AMC Falls Short of Q3 Expectations

Plus: ‘Barbenheimer’ lifts Cinemark in Q3, Paramount shares jump 10% and Fox, CNN win early battle for wartime viewers [OpenAI Is A Lot More Vulnerable Than You Think]( By Alex Kantrowitz It’s been a year of glossy profiles, breathless accolades, and funding billions for OpenAI, but the ChatGPT-maker is far more vulnerable than the popular narrative suggests. Amid a seemingly unstoppable ascent, it’s facing fierce competition, a rising open-source movement and pressure to deliver hits in an unpredictable discipline. Surprisingly, its perch atop the AI field is less than rock solid. OpenAI’s weakness stems in part from its strength. It popularized generative AI by taking others’ innovations — like the transformer model — and building stellar products on top of them. But now that the entire world is cued into AI, it’ll be much more difficult to take advantage alone. The blueprint and the materials are out there, and competitors are catching up. [Read More]( --------------------------------------------------------------- [Cinemark Sees the Future in Nontraditional Films Like Taylor Swift's 'Eras Tour']( By Eileen AJ Connelly Taylor Swift blew the doors open for more artists to bring their live tours to the movies, Cinemark CEO Sean Gamble said Friday. Nontraditional content accounted for almost 14% of Cinemark’s domestic box office results in the third quarter, and represents a significant growth opportunity for the movie theater industry, Gamble said during the company’s conference call to discuss third quarter results, which saw a 35% surge in revenue year over year to $874.8 million. [Read More]( --------------------------------------------------------------- [AMC Networks Falls Short of Q3 Revenue Expectations With $637 Million Due to Lower Ad and Affiliate Revenue]( By Kayla Cobb AMC Networks missed Wall Street expectations for revenue during its third quarter of fiscal year 2023, citing lower domestic advertising revenues and affiliate revenue as a reason for the 7% drop year over year. That fall was partly offset by streaming revenue growth. During its third quarter, AMC reported net income of $67.9 million, which included non-controlling interests, or diluted earnings of $1.44 per share. Revenue fell 7% year over year to $636.95 million, the company announced Friday. [Read More]( --------------------------------------------------------------- [Cinemark Earnings]( ['Barbenheimer' Lifts Cinemark to $875 Million in Q3 Revenue]( [Kelsey Grammer as Frasier in Paramount+ reboot]( [Paramount Global Shares Jump 10% on Strong Q3 Results]( [Fox and CNN Win the Early Ratings Battle for Wartime Cable News Viewership, While MSNBC Dips | Charts]( [SAG-AFTRA Strike Talks Studios AMPTP]( [Studios to Negotiate All Remaining Open Items in Friday Talks With SAG-AFTRA]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](