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Industry
SAG-AFTRA Ratification: The Longest Labor Battle in Hollywood History Has Ended
The latest SAG-AFTRA contract, approved by union members with a 78% vote in favor and a 38% turnout, features a 7% minimum rate boost, a $40 million bonus for streaming actors' residuals, and safeguards against replicating performances using AI.
Streaming
Indie Projects Find New Streaming Partner: A24 Makes a Deal With Max
A24's multi-year deal with Showtime concluded in November. Now, a fresh agreement with HBO and Cinemax provides a new digital home for A24's movies. Max, the streaming service, secures exclusive rights to their new theatrical releases and over 100 of their older films.
Venues
Las Vegas’ The Sphere: New Venue Has Already Generated $75 Million
The Sphere in Las Vegas, owned by James Dolan of Madison Square Garden, opened on September 29 and has already amassed over $75 million in revenue. Hosting U2's current residency, the venue's 17 performances earned $30.7 million, averaging $1.8 million per concert. Additionally, Darren Aronofsky's film, Postcards From Earth, screened 111 times, generating $44.5 million, with an average of $400,000 per showing.
International
Red Sea Rising: Saudi Arabia Invests in Film Industry
Since lifting its 35-year cinema ban in 2017, Saudi Arabia has launched its inaugural film industry guild. Headed by Minister of Culture Prince Badr bin Abdullah bin Mohammed bin Farhan Al-Saud, the guild's goal is to enact industry legislation and safeguard labor rights for cinema professionals.
Film Festival
Sundance Turns 40: The Park City Festival Reveals Its Next Lineup
The 40th edition of the Sundance Film Festival, set in Park City, Utah, from January 18 to 28, will include online components beginning January 25. The lineup showcases entries by actors Kristen Stewart and Jesse Eisenberg and works by acclaimed directors Richard Linklater, the Zellner Brothers, and Steven Soderbergh. Notably, 40 of the festival's 101 projects hail from first-time directors.
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