Hollywood Breakdown

Big budget action movies with big stars have traditionally been the bread and butter of Hollywood studios. Now, with films like “Red Notice,” Netflix is trying to make its mark on that blockbuster territory. “Red Notice” stars Dwayne Johnson, Ryan Reynolds and Gal Gadot, and is on track to become Netflix’s most-watched movie, but is that popularity on streaming enough to capture the cultural conversation and launch a franchise?

The Olympics begin on July 23, but many in Tokyo say they’re not ready to host because Japan’s vaccination rate is still under 10%. The Olympics are critically important to NBCUniversal — the official broadcaster of the Games — and its streaming service Peacock. The streamer desperately needs new paying subscribers, but will Olympic Games with few fans on site and social distancing policies in place be enough draw?

As the pandemic continues to prevent crowds from going to the movies, Paramount decided to push the release dates of three upcoming films. “Top Gun: Maverick” is moving from November 19, 2021 to May 27, 2022. “Mission: Impossible 7” is going from May 27, 2022 to September 30, 2022. And “Jackass Forever” is shifting to October 22, 2021 to Feburary 4, 2022. There is a huge cost involved with delaying these movies, but Paramount is depending on money from theatrical releases and doesn’t want to put the films on streaming.

For a long time, WME and CAA have been the number one and number two agencies in Hollywood. Recently, CAA acquired ICM, the number four agency in terms of size, which now makes CAA bigger than WME and moves it to the number one slot. The merger is part of a wave of consolidation in Hollywood, as companies have had to get bigger to keep up with the tech companies who have taken over the industry.

Netflix is in hot water after a series of failed PR moves following the release of Dave Chappelle’s new comedy special, “The Closer.” In the special, Chappelle makes antisemitic, homophobic and transphobic remarks, but Netflix CEO Ted Sarandos has stood by “The Closer” in a series of memos, writing, “We have a strong belief that content on screen doesn’t directly translate to real-world harm.”

Now trans Netflix employees and allies are planning a walkout on October 20.