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CBS has strong quarter, 'The Croods' boosts DreamWorks Animation

August 01, 2013|By Joe Flint
  • "After Earth," starring Will Smith, didn't do much for Sony's bottom line.
"After Earth," starring Will Smith, didn't do much for… (Columbia Pictures )

After the coffee. Before figuring out a vacation.

The Skinny: Another day inside the Beverly Hilton at the TV press tour. There are worse fates in life. Thursday's headlines include lots of earnings results (DreamWorks Animation, CBS, Sony) and some big cast changes coming to NBC's "Parks & Recreation."

Daily Dose: During NBC's press tour, Jennifer Salke, the network's entertainment president, said networks can't afford to be patient anymore with TV shows that are not successes right out of the box. Good thing cable doesn't feel that way. The latest season of "Breaking Bad," which premieres later this month, has more than doubled its audience since its 2008 premiere and lowered its median age from 45.7 to 40.5, according to Brad Adgate, a research executive at Horizon Media.

Agent of change. The election of Cheryl Boone Isaacs as president of the Academy of Motion Picture Arts & Sciences is the latest signal that the Academy is looking to diversify. Only the third woman and the first African-American to ever serve as president of the organization behind the Oscars, Isaacs tells the Los Angeles Times, "We are going to continue down this road."

PHOTOS: Hollywood backlot moments

Big quarter. CBS said its second quarter was the company's best ever with profits and revenue jumping 11%.  The company, whose assets include the CBS broadcast network, local TV and radio stations and the Showtime cable channel, reported a profit of $472 million and revenue of $3.7 billion. CBS attributed much of the growth to revenue from sales of content to streaming services. More on the numbers from the Los Angeles Times and Wall Street Journal.

"The Croods" delivers. DreamWorks Animation released its second-quarter results Wednesday and, thanks to the performance of "The Croods," beat Wall Street estimates. The company had a profit of $22 million and revenue of $213 million. This quarter may be tougher since "Turbo," its latest movie, has not delivered as had been expected. Details on DreamWorks Animation results from the Los Angeles Times and New York Times.

"After Earth" aftermath. "After Earth," one of summer's biggest box office disappointments, also hurt Sony Corp.'s bottom line. The company reported its fiscal first-quarter results, and while its entertainment unit had stronger numbers, much of that was attributed to the sale of a music catalog. Investor Daniel Loeb has been pushing for Sony to split off its entertainment arm from the rest of the consumer electronics company. The Los Angeles Times and Hollywood Reporter on the numbers.

PHOTOS: Scenes from 'After Earth'

More ways to watch you. Netflix is coming up with a way for people who share an account for the streaming service to have their own individual profiles. That will make it easier for Netflix to make viewing recommendations for families or roommates that have one account. This is good because after my cats use my Netflix account I'm always getting weird recommendations. Coverage from The Verge.

Bureaucratic cutbacks? Rob Lowe and Rashida Jones will exit the NBC sitcom "Parks & Recreation" during the upcoming season, reports BuzzFeed. The question is whether this is a driven by the creative direction of the show or whether NBC is looking to trim costs.

Inside the Los Angeles Times: Charles McNulty on Cate Blanchett's performance in "Blue Jasmine."

Follow me on Twitter. It's easier than email. @JBFlint.


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PHOTOS: Highest-paid media executives of 2012

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PHOTOS: Hollywood back lot moments

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