SEPTEMBER H1, 2020

T V & S T R E A M I N G
TPG, ONLINE PORTAL NAVER EYEING KOREAN
DRAMA PRODUCER’S PRE-IPO SHARE SALE

US PE firm TPG Capital and South Korea’s top

Internet portal Naver Corp. have bid for a pre-IPO
placement by JTBC amid soaring viewership of
Korean entertainment on OTT platforms. The size of
the bid is somewhere between 20% and 40% of its
outstanding shares (~$67 million-$135 million) AUG 7

NBCUNIVERSAL SIGNS FOR KOREAN CONTENT

WITH WAVVE OTT PLATFORM

South Korean video streaming platform Wavve is to

supply Korean content to NBC Universal, under a
memorandum signed Sunday.The supply deal has an
initial life span of three years and covers films and
TV series. The deal has global reach, except Korea,
and was hatched through NBCUniversal Japan.
APR 13

KOREA’S JTBC TO ADAPT BBC DRAMA

‘UNDERCOVER’

Korean producer, Story TV is to make a local version

of BBC political drama “Undercover” for
broadcaster JTBC. The 6-part thriller follows the
story of a barrister at the top of her profession. Just
as her life comes under intense public scrutiny, she
discovers that her husband and the father of her
children, has been lying to her for 20 years. SEP 9

BBC’S ‘ONE OF US’ TO GET INDIAN ADAPTATION

FOR DISNEY’S HOTSTAR

BBC Studios India is adapting BAFTA nominated

series “One of Us” in the Telugu language for Disney’s
Indian streaming platform Hotstar.“One of Us”
focuses on the mysterious murders of childhood
sweethearts, and the aftermath for their families as
they contend with their grief and search for answers.
This is the first time that BBC Studios India is
SEP 14 entering the Indian regional scripted market.

HBO MAX REACHES 30 ORIGINALS

There are now 30 original titles on HBO Max, which

launched May 27, and there will be 36 by the end of
September. The service offers 10,000 hours of overall
programming. HBO Max was the last of five major
new streaming offerings to reach the market and it
got off to a slow start, with only 4.1 million sign-ups
in its first month and it hasn’t yet had any
breakthrough originals like Disney+ or Apple TV+, SEP 14
both of which fared well in last month’s Emmy noms
PRINCE HARRY AND MEGHAN SIGN PRODUCTION
DEAL WITH NETFLIX

Prince Harry and wife Meghan have founded a

production company and signed a multiyear deal
with Netflix. The company will make documentaries,
docuseries, feature films, scripted shows and
children’s programming. The move comes just 6
months after the couple stepped down from their
SEP 2
roles as senior royals and moved to Los Angeles.

DISNEY+ GAINS FOOTHOLD IN STREAMING

BATTLEFIELD, NIELSEN SAYS

Disney+ accounted for 4% of US streaming usage in

the 2nd quarter, not far behind Amazon's Prime
Video service at 8%. Netflix is by far the largest
streamer, accounting for 34% of streaming time.
YouTube ranks second at 20%, followed by Hulu (also
Disney-owned) at 11%. Disney reported 57.5 million
paid subscribers worldwide for Disney+ in the second
AUG 13 quarter (and more than 60 million by early August)

'HAPPY VALLEY' PRODUCER NICOLA SHINDLER

LAUNCHING SCRIPTED BANNER FOR ITV STUDIOS

Nicola Shindler, the award-winning British TV

veteran and producer of such hit shows as Happy
Valley, Queer as Folk and The Stranger for Netflix, is
launching a new scripted label within ITV Studios.
Shindler, founder and CEO of the Studiocanal-owned
Red Production Company, is set to join ITV and
launch the new Manchester-based label in 2021. SEP 14

ASIA STREAMING CONSUMPTION BUCKS GLOBAL

TREND IN VIRUS-HIT SECOND QUARTER

Streaming video consumption in Asia grew a barely

perceptible 2% year-on-year in the second quarter of
2020. The rest of the world saw viewing time leap by
an average of 63%. Data which draws on sensor
technology built into billions of streams, shows
streaming in Europe grew by 134%, North America,
SEP 14 57%, South America, 35%, and Africa, 30%.

NETFLIX'S REED HASTINGS: ‘WE HAVE NOT BEEN

SPENDING ANY TIME’ TRYING TO GET INTO CHINA

“We have not been spending any time on China in

the last couple years,” Netflix co-CEO Reed Hastings
told CNBC. Hastings said the streaming giant was
turned town by the Chinese government several
years ago and instead focuses on other growth
opportunities. “There’s so much opportunity for us in
Asia, the rest of Asia ... and then all through Europe
and Latin America,” Hastings said SEP 9

H O L L Y W O O D & F I L M
WARNER BROS. WON'T SHARE 'TENET' BOX OFFICE
DATA, ANGERING RIVAL STUDIOS

There is a surprising lack of transparency with ticket

sales for “Tenet,” the $200 million-budgeted sci-fi
epic. Warner Bros. has parceled out carefully selected
breadcrumbs of data. Traditionally, studios share box
office info daily. Though 'Tenet' started playing on
Sept. 3, Warner waited until Sept. 6 to officially
announce opening weekend grosses - which was $20
SEP 14
million, a middling result for a film of its size.
RON BURKLE MAKES MAJOR INVESTMENT IN APA
AGENCY

As talent firms undergo cost-cutting amid the

pandemic, Ron Burkle is making a new foray into the
representation business with a strategic investment
in APA agency. Financial details weren't disclosed but
the deal is a major non-equity investment from
Burkle's Yucaipa Companies. APA currently has more
than 300 staffers among six global offices SEP 4

ELIZABETH RAPOSO EXITS AS PARAMOUNT'S FILM

PRODUCTION CHIEF

Raposo is exiting her role as head of production of

Paramount's motion picture group which she has
served for 3 years. She is replaced by Emma Watts,
appointed by Paramount CEO Jim Gianopulos. Raposo
played a key role in such films as Rocketman, A Quiet
Place, Mission: Impossible-Fallout & Bumblebee. She
also worked on the latest Star Trek films and Top
SEP 10 Gun: Maverick.

PETE MICELLI/STEVE COHEN MANAGEMENT

LAUNCH ADDS WME, CAA & UTA AGENTS

Pete Micelli, the former CAA television agent who

left his post as Chief Strategy Officer at eOne, has
launched a new management/production company
called Range Media Partners that will be packed with
top agent talents with financing from at least three
major investors including billionaire hedge fund titan
SEP 3
Steve Cohen

I N D U S T R Y N E W S
TIKTOK WILL SPIN OFF INTO A SEPARATE
COMPANY, PARTLY OWNED BY ORACLE

Oracle plans to take an ownership stake in a newly

formed TikTok corporation. The arrangement will
not cleave off TikTok regionally, but it will create a
separate corporate entity, in which Oracle will take a
minority stake. Oracle will also ensure that data from
American users is stored & processed in the US, as
recommended by Committee on Foreign Investment
SEP 15 in the United States (CFIUS)

VIACOMCBS TO SELL CNET FOR $500 MILLION TO

RED VENTURES

ViacomCBS will sell its CNET unit to Red Ventures

for $500 million. The sale is expected to close in Q4.
CBS acquired CNET, which offers consumer
electronics product reviews & news, in 2008 for $1.8
billion. The new ViacomCBS has been selling off non-
core assets to reduce debt & get financing for
expansions in streaming & other core ventures.
ViacomCBS also hopes to sell book publisher Simon & SEP 14
Schuster & CBS' Manhattan headquarters 'Black Rock'

SAMSUNG TO SUPPLY VERIZON WITH $6.6 BILLION

WORTH OF NETWORK

The deal indicates that the tech giant will be a major

part of the US carrier's 5G rollout. The contract for
wireless telecommunication solutions between the
two companies is worth around $6.6 billion, the
conglomerate said. The size of the deal is equivalent
to 3.43% of Samsung Electronics' 2019 full-year sales
of 230 trillion won. The contract will expire on 31
SEP 7
December 2025.
EUROPE'S CREATIVE INDUSTRY SLAMS EU
COMMISSION FOR REWRITING COPYRIGHT RULES

Europe’s creative industry has criticized the

Commission’s consultation on new copyright rules
for deviating from the original agreements made last
year. A key agreement, Article 17, would require
Google-owned YouTube, Facebook’s Instagram and
other sharing platforms to install filters to prevent
users from uploading copyrighted materials SEP 16

NBCUNIVERSAL SHAKES UP TOP RANKS,

PROMOTES NEW TV CHIEF

Comcast Corp's NBCUniversal promoted Pearlena

Igbokwe to run its global TV business as chairman of
Universal Studio Group. Bonnie Hammer will take
over as vice chairman of NBCUniversal and advise
NBCU CEO Jeff Shell. Hammer replaces Ron Meyer,
who ended a 25-year career at the company last
month after disclosing a settlement with a woman
SEP 10 with whom he had a consensual affair years ago

DISCOVERY TO ACQUIRE NEW ZEALAND TV

CHANNELS FROM MEDIAWORKS

Discovery has struck a deal to acquire the free-to-air

TV business of MediaWorks, New Zealand's largest
independent commercial broadcaster. The deal,
financial terms of which weren't disclosed, includes
streaming service ThreeNow and will boost the
company's holdings in the country to eight free-to-air
channels SEP 7

INSIDE NETFLIX'S SURPRISING TV CHIEF SHAKE-UP

Many were shocked by the sudden change in

leadership, as co-CEO Ted Sarandos named Bela
Bajaria to replace longtime VP of Global TV Cindy
Holland. Sources say the restructuring was the result
of a desire to implement a clear hierarchy at the
streamer as well as increase its focus on global
expansion. Though, Netflix entered with a new
SEP 10
playbook, Sarandos is shaping the streamer as a more
traditional Hollywood conglomerate

F E S T I V A L S & A W A R D S
CHLOÉ ZHAO’S ‘NOMADLAND’ WINS VENICE 2020
GOLDEN LION

Chloé Zhao’s 3rd film, US drama Nomadland, starring

Frances McDormand has won the Golden Lion for
best film at the 2020 Venice Film Festival, which held
its awards in a socially-distanced ceremony on
Saturday evening (September 12). The Silver Lion –
Grand Jury prize went to Michel Franco’s Mexican-
French feature New Order, about a high society
wedding which is interrupted by protesters. SEP 14

MIPCOM CANCELS PHYSICAL EVENT AMID COVID-

19 FEARS

The in-person version of the event has been called off

due to COVID-19. In place of a physical market, there
will be a digital conference and online marketplace,
MIPCOM Online+, on the original dates. The virtual
events will include conferences and screenings, a
global upfronts program of upcoming titles, industry
keynotes, and the online presentation of this year's
SEP 10
MIPCOM Diversity TV Excellence Awards.
MIPCOM NAMES SOUTH KOREA COUNTRY OF
HONOR

MIPCOM will honor Korean TV drama & reality

formats. The Masked Singer is one of the most
successful formats worldwide (adapted by Fox in US)
and the ABC adaptation of The Good Doctor was the
most-watched drama in the world last year (~50
million viewers). This success follows more than a
decade where K-drama dominated markets in Asia  SEP 10

VENICE'S POST-LOCKDOWN FESTIVAL EXPERIMENT

A SUCCESS

Venice's risky move, holding the first international

film festival since COVID-19 paid off. After 10 days of
screenings & premieres, mask-wearing, socially-
distanced attendees, the festival has gotten the indie
film circuit moving again. There were fewer stars and
tentpole titles, but films were shown, paparazzi
flashbulbs popped, &press junkets got done. There
SEP 11 were even some distribution deals signed

NETFLIX BUYS ‘MALCOLM & MARIE’ AS TOTAL TIFF

SPEND CLIMBS TO $60M

In its third buy in three days at TIFF, Netflix has paid 

$30m on worldwide rights to the romantic
drama Malcolm & Marie. The acquisition comes
after Endeavor Content and CAA showed buyers a
promo reel last week. The latest TIFF deal means
Netflix has paid approximately $60m thus far this
year SEP 14

R E S E A R C H F I N D I N G S
NETFLIX STRIKES CONTENT PACT WITH KOREA’S JTBC

In the second such pact announced this year,

Netflix has unveiled a multi-year program supply
deal with JTBC Content Hub. JTBC & Netflix will co-
develop and showcase JTBC’s prime-time TV drama
globally. The deal takes off in 2020, though the two
companies have worked together for nearly two
years already, since Netflix licensed 600 hours of
JTBC’s scripted & unscripted TV shows in April 2017
NOV 25, 2019

SOUTH KOREAN PRODUCER STUDIO DRAGON SETS

PARTNERSHIP WITH NETFLIX

Netflix has struck a multi-year deal with Studio

Dragon, a 3-year old production company that is one
of the hottest in Korea. The deal is described as a 3-
year strategic partnership, highlighted by a multi-
year content production & distribution agreement,
that begins from 2020. Studio Dragon’s parent
company, CJ ENM, also has the right to sell a 4.99%
equity stake in the producer to Netflix NOV 21, 2019

GLEANING THREE PR LESSONS FROM TIKTOK’S

GLOBAL MELTDOWN

Experts say TikTok’s PR problems have been present

from the start. Western media pointed out its lack of
user privacy protection since its $10 billion purchase
of Musical.ly (2017). Jing Daily has taken a look at the
PR pitfalls that could have avoided, such as: 'not
doing homework on the local market & audience', 'not
drawing a clear line from its parent company', & 'not
AUG 31
installing a company face until recently'
IHEARTMEDIA CEO BULLISH ON PODCAST INDUSTRY
GROWTH

iHeartMedia CEO Bob Pittman told an investor

conference that "Podcasting is already bigger than
streaming music services like Spotify, & the growth
continues, so we are investing heavily into it."
Pittman also shared his take on the space, saying:
"Internally, we think about podcasting as what
Netflix is for TV, it's the on-demand version of radio." SEP 10

CLOUD STARTUP INKS MORE THEATER CHAINS FOR

NEW DELIVERY

Microsoft Azure Cloud-based cinema distribution

startup MetaMedia is partnering with Landmark
Cinemas & the Independent Cinema Alliance.
MetaMedia said it aims to connect 25,000 cinema
screens across 5 countries by 2021. MetaMedia is
designed to support all out-of-home venues with the
ability to deliver movies, trailers, advertising, live
SEP 10 events, and programming such as concerts & esports

MICROSOFT WILL HAVE MORE THAN 150 XCLOUD

GAMES WHEN IT LAUNCHES TOMORROW

Netflix of Gaming: Microsoft is revealing today that

Xbox Game Pass will have  >150 games to stream
through its Ultimate subscription service. Known
previously as xCloud, the game streaming feature
launches on September 15th for Android tablets and
phones. xCloud is being bundled into Xbox Game Pass
Ultimate as a game streaming feature SEP 14

WSCRIPTED LAUNCHES ONLINE MARKETPLACE FOR

FEMALE WRITERS

Former eOne staffer Ellie Jamen has launched an

online marketplace connecting female storytellers
with decision-makers. The platform features a
database of member profiles & projects and is free
until the shift to paid membership in 2021. Jamen
says she wants to connect screenwriters, novelists,
and playwrights and connect them with agents,
SEP 14 executives, producers, and directors

SPORTS/FASHION/MUSIC
EVERYTHING YOU NEED TO KNOW ABOUT BIG HIT
IPO

Next month, Big Hit Entertainment will begin its

long-awaited initial public offering process.There has
been plenty of excitement among investors and fans,
as the label is home to global sensation BTS and
boasts a valuation higher than the combined value of
S.M. Entertainment, JYP Entertainment and YG
Entertainment, the country’s three major
entertainment companies SEP 8

DRAFTKINGS SURGES AFTER ANNOUNCING ESPN

DEAL

As part of the agreement, DraftKings will be the

exclusive provider of daily fantasy sports and a co-
exclusive partner for gambling link-outs from ESPN,
the company said. DraftKings’ stock jumped after the
announcement. It was slightly negative for the
session around midday before the news. Shares of
DraftKings have now gained more than 170% since
SEP 14
going public through a merger in April
HEDGE FUND BILLIONAIRE STEVE COHEN BUYS METS
AFTER FINALIZING $2.4 BILLION DEAL

The New York Mets said that Steve Cohen has

reached a deal to purchase the team. In addition to
making waves in the baseball world, Cohen has been
making moves in Hollywood: He & former CAA agent
Pete Micelli just launched a management
venture, Range Media Partners, that has attracted
several agents from major agencies (WME and UTA) SEP 14

VIACOMCBS' CHANNEL 5 IN U.K. STRIKES DEAL FOR

NFL MONDAY GAMES

ViacomCBS Networks Intl has struck a 3-year deal

with the NFL that will bring live Monday night
football to the company's Channel 5 in the U.K.
Financial terms of the non-exclusive, multi-platform
agreement weren't disclosed. Free-to-air network
Channel 5 will also launch a Sunday morning NFL
magazine show "that will take all the excitement of
SEP 8 the season in the U.S. into British homes"

BURBERRY TO LIVESTREAM SPRING/SUMMER 2021

FASHION SHOW ON TWITCH

Burberry said on Monday it would livestream its

Spring/Summer 2021 fashion show this week in
partnership with live video-streaming service Twitch,
becoming the first luxury brand to do so. The show
will be completely remote, with no guests attending
in person, the company said in a statement
SEP 14

NFL AUDIENCE SHARE MIGHT GET "EVEN BIGGER" IN

"SEASON LIKE NO OTHER," ANALYST SAYS

"The start of the NFL season should not be ignored by

media investors. In a normal year, the NFL (excluding
Super Bowl) delivers 28% of US audience impressions
at NBC, CBS & ESPN and 60% of Fox's. This year, with
lack of new scripted content & impact of SVOD on
linear viewing, the share may be even bigger. Given
the premium [ad rates] associated with the NFL, the
SEP 10 impact on ad revenues is even more pronounced"

EXTRAS

TECHNOLOGY USED TO FILM ‘THE MANDALORIAN’

COULD EASE COVID-19 FILM PRODUCTION WOES

An LED tech developed by visual effects company

'Industrial Light and Magic' devised a system known
as StageCraft that immerses actors in a 20-foot high,
75-foot wide and 270-degree semicircle of LED video
walls. The tech moves a 3D image in time with the
movement of the camera. Thus, creating a seamless
SEP 3
background that acts just like a real location

JOHN BOYEGA DROPS JO MALONE AMBASSADOR

TITLE AFTER BRAND'S CHINA AD FUMBLE

John Boyega will no longer represent Jo Malone.

“Their decision to replace my campaign in China by
using my concepts and substituting a local brand
ambassador for me, without either my consent or
prior notice, was wrong. The film celebrated my
personal story – showcasing my hometown,
including my friend & featuring my family.” Over the
SEP 14 weekend Jo Malone issued an apology to the actor

END