PRO Tip Sheet: 5 Insights From This Week

Hollywood's leading figures gathered at TheWrap's TheGrill conference this week, discussing topics from AI's impact on the industry to Taylor Swift, highlighted by key conversations with top executives like Mattel's Ynon Kreiz and Sony's Ravi Ahuja. [5 Insights From WrapPRO]( Movers and shakers in Hollywood and beyond converged for TheWrap's annual TheGrill conference this week, which saw experts weigh in on everything from AI to theatrical distribution to Taylor Swift. Sharon Waxman anchored spotlight conversations with Mattel CEO Ynon Kreiz and Global Television Studios and Sony Pictures Entertainment Corporate Development Chairman Ravi Ahuja and we saw professionals debate the impact of AI. [Read More on WrapPRO]( 1. [Mattel CEO Talks the Major Success of ‘Barbie’: ‘We Knew We Had a Winner’]( By Drew Taylor | Source: [WrapPRO]( - Ynon Kreiz aims to transition Mattel from merely a toy-based company to an IP-focused enterprise that manages franchises, emphasizing that their products have moved from being mere consumer items to fan-focused entities. - Mattel's strategy is likened to Marvel's evolution from a comic book publisher to a global media giant, with the goal of establishing strong emotional bonds with fans and then branching into other areas. - The film "Barbie" was a game-changer for Mattel in 2023, with a unique creative approach spearheaded by talents like Margot Robbie, Greta Gerwig and Noah Baumbach, aiming to create a significant cultural event. - Upon "Barbie's" release, it transcended traditional demographic expectations, resonating with various age groups and backgrounds, ultimately turning it into a cultural phenomenon beyond a regular film release. - Moving forward, Mattel has planned 14 projects, including collaborations with J.J. Abrams and Skydance, with a consistent strategy focused on partnering with leading creative talents and building film franchises based on their iconic brands. [Keep Reading]( 2. [Is Taylor Swift About to Hit Movie Studios With a $100 Million Wrecking Ball?]( By Scott Mendelson | Source: [WrapPRO]( - Taylor Swift's self-produced and distributed concert film, in collaboration with AMC Theaters, is projected to be the biggest October release ever with over $100 million in worldwide ticket presales and potential opening figures surpassing $150 million in North America. - The success of Swift’s self-distributed film presents a potential challenge to the traditional film distribution model, opening the door for other celebrities and creators to bypass studios and split grosses directly with theaters. - Beyoncé has also taken note, finalizing an arrangement to self-distribute her concert film this December, indicating a possible trend among high-profile artists. - While big stars like Swift can self-promote their projects due to their significant following, the majority of films still rely on studio marketing infrastructures; a major film like one by Christopher Nolan would need a substantial marketing budget, an amount beyond what most theater chains could afford. - The future may see a blend of studio-distributed blockbusters and smaller, self-distributed films catering to dedicated fanbases, offering a diverse range of options and potentially stabilizing inconsistent studio release schedules. [Keep Reading]( Join the ranks of high-powered industry leaders who read [WrapPRO]( every day. Want unlimited access to in-depth reporting, analysis, and industry data? [Upgrade to a subscription today](. 3. [Sony Exec Ravi Ahuja Says End of Peak TV Will ‘Be Painful for Most Companies’]( By Jose Alejandro Bastidas | Source: [WrapPRO]( - Ravi Ahuja predicts the decline of the peak TV era will result in companies cutting back on content production and promotion over the next two years, with a shift from major subscriber-acquiring shows to niche content. - The term "Peak TV" reached its height in 2022 with 599 shows produced, but recent cancellations and content purging indicate a slowdown in original content production as media platforms aim to increase profitability in streaming. - Reflecting on the 2019 merger of Fox and Disney, Ahuja credits the urge to compete with Netflix and the launch of Disney+ as driving forces. - Ahuja highlighted Sony’s successful collaborations with PlayStation, adapting IPs like “The Last of Us” and “Uncharted,” and hinted at an upcoming joint project with Sony Music. - Ahuja anticipates the rise of bundling in the streaming sector, with platforms like Amazon, YouTube, Apple, and Roku curating content from different sources, as it offers a more efficient and user-friendly approach. [Keep Reading]( 4. [AI Will Cause ‘Some Labor Displacement’ in Hollywood, Expert Says]( By Loree Seitz | Source: [WrapPRO]( - Mehran Sahami anticipates that AI's growth in the entertainment sector might lead to labor displacement, although the exact extent remains uncertain. - While human creativity remains irreplaceable, AI can enhance it by presenting a wider array of ideas to a smaller group of individuals, raising questions about the future need for larger creative teams. - The utilization of AI in industries will vary, with companies facing decisions on whether to maintain workforce size with increased efficiency or reduce staff numbers based on AI's capability to handle tasks. - Daniela Rus emphasizes that AI is adept at specific tasks but hasn't reached a level where it can fully encompass human creativity, yet warns of its potential misuse without proper regulation. - Striking a balance in AI regulation is crucial to ensure safety in critical tasks without stifling innovation, with Rus stressing the importance of thorough AI testing especially in decision-making roles. [Keep Reading]( 5. [Linda Yaccarino’s Train Wreck Code Conference Interview Proves She Isn’t Running X, Experts Say]( By Kelly Hartog | Source: [WrapPRO]( - After a controversial interview at TheWrap’s Code Conference, questions arise about Linda Yaccarino's control and knowledge as the CEO of X (previously Twitter), which is now run by Elon Musk. - During the interview, Yaccarino's unpreparedness was evident, prompting discussions about the need for a strong corporate communications team at X, especially given that Musk previously laid off most of Twitter’s communications personnel. - Yaccarino's combative response to questions and lack of acknowledgment of X's challenges painted her as inauthentic and out-of-touch, resulting in significant reputational damage. - Elon Musk's takeover of the platform has been met with criticism due to a series of controversial decisions, including reinstating banned accounts and changing the company's direction. - Despite the backlash, experts believe Yaccarino's position is likely secure, and the interview won't cause significant concern for Musk, who is known for his disruptive approach and ability to ignore critics. 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