.png?width=739&name=MicrosoftTeams-image%20(31).png)
Don’t forget to check out our The Friday Fivecast, the audio version of our weekly Friday Five blog. Listen in your car, at your desk, and anywhere you take your podcasts. Find it here, then click on our Spotify profile to subscribe.
Technology
Groundbreaking AI Law: European Union Passes First Comprehensive Regulation
The EU's pioneering AI regulation law, effective by mid-2024, categorizes AI by harm potential, banning "unacceptable risk" applications and closely regulating high-risk sectors like hiring and law enforcement. Lower-risk AI necessitates minimal regulation but mandates deepfake labeling. Violators risk fines of up to 7% of global profits, with each EU country establishing its own AI oversight.
Film
We Want Original Content: Tubi Surveys Millennial and Gen Z Audiences
A Tubi survey found that last summer's box office hits highlighted a growing demand for original content among young audiences, who prioritize originality in streaming. Despite nostalgia's appeal, 74% of millennials and Gen Zers prefer original content, with 71% supporting independent creators. Yet, licensed content still dominates streaming platforms, as subscribers reconsider their subscriptions due to costs.
International
Hong Kong Embraces Virtual: New Production Studio at the Design Institute
The Hong Kong Design Institute launched a cutting-edge virtual production studio at Shaw Studios, enhancing the region's film facilities and promoting professional education. With advanced technology like Samsung microLED display and Disguise solutions, the 9,000-square-foot studio aims to elevate local virtual production standards, foster collaboration, and prepare students for film industry careers.
Streaming
The Search for Content: Gracenote Wants To Enhance Streaming Experience
Gracenote, a Nielsen subsidiary, launched three services to simplify content discovery for streaming viewers and assist platforms in curating engaging programming. These services, including Streaming Sports Catalogs, Streaming Video Catalogs, and FAST / Streaming Channels metadata, aim to enhance user experiences and optimize business for streaming platforms.
Industry
The World of Children’s Entertainment: Publishing Company Acquires Animation Outfit
Scholastic, the prominent children's media and publishing company, is acquiring full economic interest in 9 Story Media Group for $186 million, strengthening their two-decade partnership and expanding their entertainment sector. The deal, approved by both companies' boards and shareholders, is set to conclude in Scholastic's fiscal 2025 first quarter. 9 Story boasts acclaimed studios and a diverse content library, featuring titles such as Doc McStuffins and The Magic School Bus Rides Again.
High five! Another Friday Five is going live next week—same time, same place. We know what caught our eyes, but we’re all ears. Tell us what you’d like to learn more about in our upcoming editions by following us on Facebook, Twitter, and LinkedIn. Be sure to tag #FridayFive in your comments.
Want an even more convenient way to stay in the know? Get Friday Five sent right to your inbox each week by signing up for our direct newsletter below.
See you next Friday at 10 a.m. (PT).
