After an almost 40-year run in its current Park City, Utah, home, the Sundance Film Festival is looking for a new home. Our local entertainment lawyer in the know, Brandon Blake of Blake & Wang P.A. takes a closer look at this surprising announcement.

Brandon Blake

Contract Expiry

Sundance’s current contract with Park City will expire after the 2026 edition of the festival. While many expected them to seek a renewal, Sundance has reportedly had a move on the map for quite some time. However, they haven’t ruled out the possibility of remaining in Park City, but emphasize that it will need a strong local offer to sweeten the deal.

Interested locales have until May 1 to put their bids on the table. After that, the committee will assess the best potential candidates, a process set to finish by June 21. Reportedly, sustainability and inclusivity are two key factors in their final decision.

Unveiled in 2025

Once a final decision is made in-house, the results will be unveiled at the end of next year’s 2025 festival. However, the real question is whether they will be able to keep the secret that long.

Sundance itself, faced with the changing economic climate and a revolution in how film is consumed, may well welcome a change of scenery and a ‘fresh start’ of sorts. Park City, however, seems keen to keep one of its major tourism anchors, with last year’s festival bringing in over $118M for the state’s GNP. It is also likely that we will see Salt Lake City make a strong bid for the festival, for the same reason.

While we can certainly understand why Utah would be keen to keep the festival, despite some grumbling from locals, the festival itself has had a rough time in the rocky post-pandemic years, and a ‘breath of fresh air’ from a venue change may well be in the festival’s best interests to help polish and recreate its image.

If the streaming industry is anything to go by, the future is ad-supported. 2023 saw many of the key streaming platforms roll out ad-supported tiers in a bid to slow subscriber churn and open up new subscriber markets. Now even AMC+ is looking to the ad-supported model to help boost its profitability. Blake & Wang P.A. the entertainment attorney in Los Angeles, Brandon Blake, has all the details.

Brandon Blake

The Move to Ad-Supported

While AMC+ can be counted as a niche streaming service at best, it is still hoping to harness some of those advertising dollars for its own use. The announced ad-supported tier is expected to be running by the end of the 2024/25 Upfronts, with its regular presentation to ad buyers due to take place this Wednesday.

For subscribers who take up the new ad-supported tier, they will also get ad-supported versions of the Sundance Now, Shudder, and IFC Films Unlimited platforms. Intriguingly, non-bundled subscribers have not had the option to choose a cheaper tier option of any sort. Under the planned rollout, these individual services, alongside several that are not part of the AMC+ bundle, will also see ad-supported tiers introduced.

The Decline in Pay TV

Some of this bid for more advertising space can, no doubt, be laid at the door of the continuing decline in linear TV subscribers. As can be expected in a softer economy, ad buyers are following where subscribers lead- and that’s mostly to streaming platforms.

In addition to the ad-tier launch, AMC will also be expanding the Audience+ data targeting platform it introduced last year. This platform aims to offer more precise ad targeting than Nielsen’s current demographics do. An industry first, it will be interesting to see if they can upsell this new platform to buyers outside the AMC ecosystems, too.

While it may be one of the last to do so, it is good to see AMC adapting its streaming offerings to fall in line with higher-caliber and larger streaming platforms.

It’s been an excellent week for Asian releases globally. Perhaps one of the most impressive performances to date has to be the Vietnamese romance-drama, Mai, which has managed an impressive (for the size and demographic) $2M performance across Europe and North America. The experience entertainment lawyer Brandon Blake, of Blake & Wang P.A., takes a closer look at this inspired performance despite being a non-English language release.

Brandon Blake

$23M Global Box Office

While there has been plenty of hype surrounding Asian IPs of late, Vietnam has had a decidedly understated presence in the global film market. Now only in the third week of its release cycle, Mai has already earned $23M in global takings. Unsurprisingly, the bulk of this was generated at home, with a credible $21M. It has grossed $1.66M in North America, and a further $341K in limited European markets. The film is distributed by 3388 Films.

Ironically, director Tran Thanh already held the record for the best-performing Vietnamese-produced film in North America with their directorial debut, Bố Già, or Dad, I’m Sorry in translation. Its $1.3M record was generated off of an 8-week run in 2021, so Mai’s strong opening performance is already new ground. It will be interesting to see how well the film sustains, and where it eventually closes domestically.

Expanding Markets

As 3388 Films have themselves remarked, a few years ago even a $1M performance at the US box office for a film like this would have been amazing. Not only is it a testament to a strong, well-made film, but it also aptly demonstrates the considerable market expansion and appetite audiences now have for international and independent titles.

There’s plenty to celebrate for the wider filmmaking industry in Mai’s new victory, and we hope to see even greater performances from titles like this in the coming years.

It’s no secret at this point that the wider entertainment industry is keen to embrace the potential of AI-powered movie-making. There’s been considerable buzz already about the potential of OpenAI’s “Sora” software to revolutionize how movies are conceived and made. Now, Hollywood is set for what could be one of the most critical meetings in its history, as OpenAI seeks to pitch Sora’s full potential to talent agencies, studios, and media execs. Brandon Blake, entertainment lawyers at Blake & Wang P.A., has all the details you should know.

Brandon Blake

Text-to-Video and More

While it is always tough to separate the facts from the marketing hype, Sora’s powerful text-to-video tool certainly has the potential to be a disruptive force in how films get made. OpenAI, naturally, is keen to sell Hollywood decision-makers on that prospect.

Not that the move will be news to those same decision-makers. We already know that Tyler Perry has put his planned $800M studio expansion on hold in anticipation of the industry shake-ups Sora could bring.

Changing Landscape

However, a game-changing technology won’t simply be able to launch in a vacuum. Given the intense potential for industry-wide disruption a Generative AI technology like this could bring, it is anticipated we will see considerable debate and regulatory movement to counter the potential for job losses.

If anyone was hoping this intense debate around these AI-powered technologies could be postponed for another year, however, they are out of luck. With OpenAI now actively campaigning for Sora among the movers and shakers, it is only a matter of time before the wider entertainment industry has to decide on a firm stance on the new technology. Big changes are certainly ahead. Now the only real question is what they will look like, and what the greater impact on the entertainment business will really be.

As the demand for location shoots increases due to the pumping streaming content production line, more and more states are hoping to net themselves a share of that revenue pie. In a bid to keep their film and TV production tax credits competitive in this evolving landscape, the Georgia Senate has made significant changes to its proposed House Bill 1180- all in favor of the productions they are hoping will film there. Our Blake & Wang P.A. entertainment attorney, Brandon Blake, unpacks the full details of the proposed changes.

Brandon Blake

Significant Cap Changes

One sticking point for the entertainment industry so far has been the annual limit on tax credit transfers. This has subsequently been lowered in the Senate version to 2.3% of the state budget (roughly $830M), compared to the 2.5%/$900M initial proposition the House saw. However, some attractive exemptions have rendered that cap near-meaningless.

Key changes include removing productions shot at Georgia’s biggest studios from the cap. This covers investments over $100M within the 2023-2027 production period and will cover about 1.5M square feet of sound stage space. This will particularly impact Marvel, as well as other big franchises filming in the area. Smaller studios are exempt from this unless they are both in rural areas and outside the wider Atlanta metro area.

Further Positive Changes

The revised bill also offers hundreds of millions worth of potential tax credits that will impact the cap, rendering it almost irrelevant to the wider decision to film in the area. The Rules Committee can change the Bill, however, with the end of the session looming, it will need to be handled swiftly or the bill risks lapsing into obscurity. It is expected to be signed by Thursday.

Some players within the industry would rather see the bill fall away entirely. Georgia has become something of a filming hub thanks to its previously generous tax credit regime. The bill, which aims to make their annual budgetary expenditure more predictable, directly impacts the transfer/sale of tax credits. However, should the Bill pass the House, it will certainly be an improvement on the earlier offering.

If someone pitched to you the idea of reviving an eight-year-old franchise, how keen would you be? While anyone could be forgiven passing on the “deal”, that’s exactly what DreamWorks/Universal has managed to successfully do with their Kung Fu Panda franchise, propelling the latest installment to a $58M opening that will be gratefully received by the current box office. Our entertainment lawyer in the know, Brandon Blake of Blake & Wang P.A. spills the news.

Brandon Blake

A Timely Revival

Normally, 8 years in production purgatory would be a franchise killer, not a key to new success. However, in a box office where cinemagoers are tiring of the same-old superhero options, reviving something that feels new, while still having the safety of familiarity, may have been DreamWorks’ smartest move to date. 

The movie managed to close its opening weekend at a solid $58M, $8M higher than it was tracking. This is one of the biggest Universal openings of recent years, even, squeaking ahead of 2019’s How to Train Your Dragon: The Hidden World. 

Strong Hold

On top of a strong second-weekend hold of $46.2M, a -44% hold, for Dune: Part Two, the 2024 box office finally has some spring in its step. The marketplace closed at $138.1M, 15% higher than the same weekend in 2023— the first time we’ve seen an up weekend this year. 

Of course, two films cannot create a successful box office. While Ghostbusters: Frozen Empire is managing to generate some hype, by April there is a drop-off in releases again that could prove toxic to the recovering box office.

Much of Kung-Fu Panda 4’s success can be laid at the door of artful marketing and tie-ins from Universal itself, up to and including some Super Bowl hype. Paired with being “fresh” and novel, the film has managed to generate significant interest among theatergoers. Let’s hope there are a few more releases to boost that coming soon, too.

In a bid to gain ground as the largest European film and TV production hub, the UK government last week announced a new 40% corporate tax relief incentive for studio facilities and other key industry players, including independent productions. One of the best entertainment attorney Brandon Blake, of Blake & Wang P.A., looks deeper into these new reforms.

Brandon Blake

Tax Relief Expansion

In addition to the corporate tax relief for studio facilities, which will run until 2034, they also announced a 40% incentive for independent films as well as a boost to existing incentives for visual effects studios. The first big-budget production to take advantage of these enhanced incentives will be the next installment in the Jurassic World saga.

In hard numbers, this amounts to an increase in the tax credit rate of 5 percentage points, the 40% relief for studio facilities, and the removal of the current 80% cap on visual effects credits. To qualify for the indie-focused incentive, the production must have a budget under $19M (£15M). Studio space in the UK has doubled since 2020, and if some high-profile expansions reach fruition, could become the next largest production hub after Hollywood itself. However, UK.-based production rates have slowed recently, and we can assume these enhanced tax relief options are a bid to reverse that trend.

Positive Reception

Following the announcement last week, several key players on the UK production scene and internationally have come out strongly in support of the new reforms. Including Sky Media, which has a massive expansion for their Sky Studios Elstree North facility underway that is expected to create 2,000 new jobs and boost revenue by $2.55B (£2B).

In many ways, nurturing the growth of the independent film and TV industry is the key to future-proofing the entertainment industry and ensuring it thrives for decades to come. At a time when securing financing for small and independent productions is becoming increasingly difficult, let’s hope that this initiative helps a new generation of UK and international filmmakers leave their mark on history.

While the classic 90-day release window is all but dead, have we reached any kind of consensus on what the ‘new normal’ really is? Blake & Wang P.A. entertainment attorney Los Angeles, Brandon Blake, takes a look at this critical question.

Brandon Blake

Lessons Learned from 2023

Now the day-and-date release model that the streaming giants were hoping to see overtake the traditional theatrical release has been soundly put to bed as a productive marketing option, we’ve seen a variety of tweaks, changes, and experiments to the traditional theatrical window.

The net result? 2023’s theatrical windows averaged 37 days, widening slightly to 40 days in early summer, with most settling around a 30 to 40-day window. There were notable exceptions, including one of the best-performing films of 2023. Oppenheimer included a massive 122-day window in the deal between Christopher Nolan and Universal. Compare that to the unexpected box office darling, The Super Mario Bros Movie, which had a 41-day exclusive window despite being an objectively bigger hit among crowds.

However, the biggest revelation of all was a frustrating one. There is no ‘new normal’. At least not yet.

Varying by Studio

There is one unifying factor, however. Surprisingly, it is the PVOD window (and expected performance) of the title that is most shaping its theatrical exclusivity. Ironically after its firm conviction around the day-and-date release model, Disney now has one of the longest theatrical periods in the market, averaging around 60 days. A24 and Paramount settled around the 40-day mark, with most other studios falling into the 30 to 40-day band. Amazon/MGM and Universal opted mostly for shorter windows in the high 20s.

Taken altogether, this data suggests we are closing in on an optimal ‘new normal,’ but it remains tied to the film itself as well as its expected later performance on streaming services, especially as revenue-driving PVOD offerings.

No doubt hoping to capitalize further on the success of the supernatural hit series, Moving, Disney+ has unveiled an extended Korean Originals slate for 2024, with a focus on high-end Korean dramas.Los Angeles Entertainment attorney Brandon Blake, at Blake & Wang P.A., has further details for us.

Brandon Blake

A Varied Slate

These productions, all star-powered and with high-quality profiles, include everything from thrillers and mystery series to crime and period dramas, as well as a three-season renewal for the Korean reality show, The Zone: Survival Mission. These new series will join several 2024 tentpoles, including animated Lightshop. Disney has also announced that there will be more Korean offerings added throughout the year.

Quality Storytelling and Top Talent

Disney was also quick to position these new offerings as key new collaborations, rather than mere ‘filler’ content. Disney+ has only operated in the South Korean area since late 2021, and has been steadily ramping up its local content partnerships as the world, especially growing Asian markets, rides the so-called ‘K-wave.’ Well handled, and with the right properties on offer, this could be a critical step in helping the service gain further traction throughout the growing- and lucrative- Asian streaming arena.

Additionally, Korean storytelling has proven to be remarkably enduring in non-Asian markets, with several break-out hits stemming from local studios. No doubt, Disney is also hoping to uncover a few diamonds in the rough that will have wider market potential, especially in the growing Korean horror segment that has seen much critical acclaim as well as global traction.

With seven exciting new properties already announced, and the scope for even more to be added over time, it will be fascinating to see how well this content investment works out for them through their local partnerships. If you are a fan of the K-drama genre, this is certainly a space to watch.

While the overall international box office has been quiet this weekend, the same can’t be said for the Chinese film market. With the widespread and extended celebrations for the Year of the Dragon bringing with it the lucrative Chinese New Year movie-going window, we’ve already seen some stellar box office takings, no doubt in part due to the lifting of China’s stringent COVID-19 policies last year. Brandon Blake, entertainment attorney at Blake & Wang P.A. has all the hot new titles to watch.

YOLO Lives More Than Once

It is currently estimated that the first 2 days of the Spring Festival have accounted for around $339M in box office spending. Pegasus 2 took an early lead on Saturday but was soon passed by the Alibaba and Jia Ling CFG inspirational film, YOLO. The film takes home about $112M for its 2-day performance. IMAX, which has proved popular in the wider Chinese market, accounted for just under $4M of that. The film has generated some buzz in local markets due to the exhaustive changes the star had to make to her appearance to take on the role- a mystery that has been greatly hyped up by the marketing team, too. Including deliberately keeping her away from promotional events to build further speculation and anticipation. 

It’s uncommon for Chinese New Year movies to find a wider release offshore, but Sony will be handling distribution rights for this movie in international territories. So if you’re curious, this one may well hit a screen near you soon. The movie is expected to close at around $611M.

Pegasus 2 Holds Strong

It’s on-trend for the opening day’s winner to slip down the rankings with time. With $105.6M in the kitty, including $4.6M from IMAX, Pegasus 2 has still managed to have a great run, too. It’s anticipated to close at the $460M mark. Boonie Bears: Time Twist, a sweet 10th-anniversary celebration for the animated franchise, closed out the top 3 at $62M, expected to close at $320M.

If this proves to be the year we have an international break-out hit from the Chinese New Year market, it will be an intriguing milestone indeed for the wider movie market. YOLO is definitely one to watch.