Category: film

The blockbuster global success of ‘F9’ exposes the myth of streaming’s inevitability

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As COVID-19 has turned Hollywood upside down, leading to new levels of disruption-seeking, what constitutes “radical” thinking seems to have no ceiling. Most notably, WarnerMedia decided to throw its entire 2021 slate onto HBO Max (alongside their theatrical release), a move that precipitated the $43 billion spin-off of WarnerMedia with Discovery last week. Other studios may be less audacious, but every studio in town is treating movie releases like advanced calculus, hauling in the analysts and Harvard MBAs to try to divine the best strategy to launch their precious, $200 million pieces of intellectual property out into the COVID-tattered world. Generally, the answer lies in a tepid solution—a hybrid of streaming and theatrical—that attempts to cut losses but, at least this far along in the pandemic, tends to give some kind of a boost to new streaming services.   Given this environment, Universal’s decision to release F9 in theaters only last weekend—with no streaming option—is perhaps the most radical move of all. Yes, that’s right: putting a movie in a theater where people can sit in a socially distanced way to eat their popcorn and enjoy the show is suddenly the new vanguard. [Photo: Universal Pictures] Even bolder: The “wild” experiment worked. Last weekend, the latest in the Vin Diesel-fueled action franchise racked up $162 million in foreign markets including China, Korea, and Hong Kong, a number that is not that far off from “normal” box-office figures in those areas for a Fast and Furious film. This makes it not only a COVID-19 anomaly, but the first and biggest sign yet that studios can start nudging the MBAs toward the door and start to re-embrace the good ol’ fashioned but still proven box-office model. Read More …

From teen wizards to Harry Styles romances: How Wattpad created a user-generated media empire

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In the world of Wattpad, no genre is too niche. The user-generated publishing platform, founded in 2006 and boasting 90 million monthly readers, has spent the past few years turning its most online popular stories into both print books and movies and TV shows. In 2021, the multimedia powerhouse was acquired by the Korean tech giant Naver for $600 million—a price buoyed by Wattpad’s ability to analyze content down to which lines of a story readers like best (and absolutely must appear in a movie adaptation). “We have what is possibly the largest library of fiction that’s ever been created,” says Aron Levitz, General Manager of Wattpad Studios, the film and TV arm. “Our audience data allows us to really explore that.” The company’s insights have catapulted dozens of untraditional stories to box office and bestseller success.  Click to expand [Data Visualization: Chelsea Schiff] Wattpad estimates it has 90 projects currently in development (see above), with more titles being surfaced every day by users and algorithms. Some prime examples of the company’s success: Anna Todd’s After series began as Harry Styles fanfiction, selling millions of books. The first After feature film, released in 2019, made $70 million, and a third ( After We Collided ) will come out later this year. Young adult novel I’m A Gay Wizard was one of Wattpad Books’ first print releases in 2019, and is currently being developed into a TV series by the Wattpad Development Fund, which identifies and elevates underrepresented stories for film and TV. The company also has a massive presence in Asia: Indonesian romance novel Turn On garnered more than 17 million reads on Wattpad, and debuted as an eight part TV series in January. With 10 million views so far, it’s the most successful Wattpad project of 2021. Read More …

From teen wizards to Harry Styles romances: How Wattpad created a user-generated media empire

Posted onAuthoradmin

In the world of Wattpad, no genre is too niche. The user-generated publishing platform, founded in 2006 and boasting 90 million monthly readers, has spent the past few years turning its most online popular stories into both print books and movies and TV shows. In 2021, the multimedia powerhouse was acquired by the Korean tech giant Naver for $600 million—a price buoyed by Wattpad’s ability to analyze content down to which lines of a story readers like best (and absolutely must appear in a movie adaptation). “We have what is possibly the largest library of fiction that’s ever been created,” says Aron Levitz, General Manager of Wattpad Studios, the film and TV arm. “Our audience data allows us to really explore that.” The company’s insights have catapulted dozens of untraditional stories to box office and bestseller success.  Click to expand [Data Visualization: Chelsea Schiff] Wattpad estimates it has 90 projects currently in development (see above), with more titles being surfaced every day by users and algorithms. Some prime examples of the company’s success: Anna Todd’s After series began as Harry Styles fanfiction, selling millions of books. The first After feature film, released in 2019, made $70 million, and a third ( After We Collided ) will come out later this year. Young adult novel I’m A Gay Wizard was one of Wattpad Books’ first print releases in 2019, and is currently being developed into a TV series by the Wattpad Development Fund, which identifies and elevates underrepresented stories for film and TV. The company also has a massive presence in Asia: Indonesian romance novel Turn On garnered more than 17 million reads on Wattpad, and debuted as an eight part TV series in January. With 10 million views so far, it’s the most successful Wattpad project of 2021. Read More …

New iPad Pro: Amazing hardware in search of equally amazing software

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There’s a long-standing urban myth that Apple designs products with planned obsolescence in mind—intentionally engineering them so that you’ll grow dissatisfied over time and want to replace them with something newer and shinier. Don’t you believe it. The company actually has a pretty impressive track record of building products that remain useful for the long haul, even well after they’ve been discontinued and replaced. One of the best recent examples is the iPad Pro that arrived back in November 2018 . Now theoretically two generations out of date, it belies its age by feeling just about as fast, fresh, stylish, and capable as it did on day one. It’s even compatible with Apple’s Magic Keyboard, which shipped 16 months later and took the iPad Pro to new heights as a laptop replacement. That 2018 iPad Pro was so good, in fact, that it hasn’t cried out for reinvention. Last year’s iPad Pro  acknowledged that by focusing on improvements to the rear camera system, including some aimed at making augmented-reality apps work better. For most iPad Pro users, it was the kind of update you could sensibly skip, biding your time to see what came next. That time has arrived. Apple is about to release  another new iPad Pro that, like last year’s model, retains the industrial design and basic feature set of the 2018 version. (It officially arrives in stores on Friday, though it’s already in enough demand that Apple is quoting availability dates for new preorders in late June and July.) I’ve spent more than a week with a prerelease 12.9-inch unit provided by Apple, along with a Magic Keyboard case and Pencil stylus. (The keyboard is the new white version , which looks mighty sharp—and, unlike any previous iPad keyboard, is color-coordinated with the Pencil.) Finally, an iPad keyboard case that matches Apple’s Pencil. [Photo: Harry McCracken] In terms of sheer technical excellence, this new iPad Pro is a good-size leap beyond its 2018 and 2020 predecessors. Read More …

How two Southeast Asian superapps beat Uber at its own game

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In 2009, while Uber’s cofounders were gearing up to launch, a cadre of young Asian entrepreneurs-to-be entered the MBA program at Harvard Business School. Out of that group came two ride-sharing startups that would evolve quite differently than their American cousins. The company now called Grab was conceived by Malaysian students Anthony Tan and Hooi Ling Tan (no relation) as their entry in a business-plan contest. They didn’t win—but later, they wound up out-Ubering Uber in burgeoning cities across the 10-country ASEAN region in Southeast Asia. Meanwhile, another classmate took a zigzag route to the top. Nadiem Makarim, working remotely with buddies back home in Indonesia, started Gojek as a side project while finishing his MBA. This ride-share app has branched into businesses from massage therapy to moviemaking. And just this week Gojek announced the largest business deal in Indonesia’s history, its merger with e-commerce giant Tokopedia. (Disclosure: Golden Gate Ventures is a small shareholder of Gojek via its acquisition of Ruma Mapan. We’ve also invested in Gojek’s spinout, GoPlay.) Both Gojek and Grab are now venture-funded decacorns. Each is headed for a dual IPO on New York and Asian exchanges. And they’re racing to dominate much more than ride-hailing on Southeast Asians’ mobile phone screens. Grab and Gojek each offer what hasn’t yet been seen in the U.S. market: a superapp combo, featuring a payment app that’s a potential gateway to selling anything people may wish to buy. Gojek’s Winding Road Gojek began modestly in 2010. At first it was a “minimum viable product” venture—a local, low-tech operation led on a part-time basis by its faraway founder. Read More …