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As NBCUniversal prepares for a Versant-style split from its Comcast parent, and hot on the back of news that Peacock may well finally be reaching profitability, we’ve heard a lot about NBCUniversal’s quest for the right partners. Brandon Blake, entertainment lawyer at Blake & Wang P.A, has more to share. 

Brandon Blake

Into Independence

For anyone listening to Comcast’s Q2 earnings call, the word “independent” certainly did raise its head a whole lot. However, NBCUniversal, which will take Sky with it during the separation, is in reality still exploring its options. It should be fully spun off from Comcast within a year if all goes to plan. Reportedly, they are also already talking with potential partners. 

NBCUniversal and Sky will, of course, remain focused on entertainment content. Comcast itself will be operating as a legacy cable TV company, with its broadband and wireless offerings going with it. 

This may not be a bad idea for NBCUniversal once it is a fully independent entity, given that its streamer, Peacock, is relatively small for a mainstream platform, but the company retains many popular (and revenue-driving) IPs that could earn well for it with the right bundle or partnership option.  

Could We Be Looking at Another Merger?

In fact, given the flurry of mergers we’re seeing at present, NBCUniversal may even opt for a full-blown M&A deal once it is fully independent. After all, Comcast was one of the bidders for Warner Bros. Discovery before the deal closed in Paramount’s favor. Even if it doesn’t fully merge with another studio, NBCUniversal could have enough leverage for some successful strategic deals. 

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Netflix, of course, has received heat recently for its lackluster growth in viewership, and many have been keen to see a deal from them for a while now. While it’s doubtful, we could potentially see Peacock as an interesting asset for Netflix to acquire, especially given Peacock’s pull in live sport streaming, which Netflix is only beginning to investigate for itself. 

However, NBCUniversal may well have enough scale by itself to be a viable player, even if on the smaller end of the scale. They already have decent weight in the industry, and between it and Sky, there are plenty of established industry relationships. Not to mention both have been operating in reasonable condition- the softening in Comcast’s financial results mostly comes from the cable TV and broadband side, not NBCUniversal itself. Given the opportunity for tighter investment and a better focus on its entertainment assets, it could potentially do well. 

Backed by an eager audience of more young adults than most other streamers, Disney+’s Europe, Middle East, and Africa strategy is now looking to 2 key growth areas: local originals and cinema releases. This comes as they’re seeing immense growth in their ad-supported revenue, as entertainment lawyer from Blake & Wang, Brandon Blake, is here to share. 

Brandon Blake

Strong Ad Revenue Growth

In a rather eye-opening statistic, Disney+’s EMEA General Manager, Karl Holmes, also shared that the channel has seen an 80% growth in its ad revenue from the UK market over the last year. He also noted that Disney+ now has one of the most dominant young adult audience shares among streamers in the area. 

This means that, while you would expect the Disney giant to dominate among actual children and those under 18, the House of Mouse now has one of the youngest “fully adult” markets among its competitors, suggesting that almost 40% of its viewing hours come from the 16- 34-year-old demographic. This puts it ahead of Netflix (32%), Prime Video (27%), Paramount+ (23%) and Apple TV (20%).  Perhaps that’s not all that surprising, given the grip Disney has over childhood audiences. 

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In Growth Mode

Disney’s EMEA customer base is also growing fast, now up 25% since the start of last year. At the same time, average viewing per subscriber is also up 10%. Many of these new additions are choosing the ad-supported tiers, which, in turn, has driven a revenue uptick of 80% year-on-year. Disney’s ad-supported offerings in the territory now extend to 15 European countries. That's quite impressive, given the service only debuted in Europe 6 years ago.

Now, their eyes are on their content. After all, Disney and storytelling go hand in hand, and they are already wearing the crown when it comes to movie content. In 9 of the last 10 years, Disney has been the top studio at the EMEA box office, if not the global box office, and they naturally favor sending these pictures to their streamer first once the box office window closes. 

This year alone, that will mean Zootopia 2, Avatar: Fire and Ash, Toy Story 5, The Devil Wears Prada 2, and, of course, The Mandalorian & Grogu. Holmes was quick to note that cinema releases play an important part in this strategy, highlighting the impact a strong box office release has on streaming results. 

They will also be looking to add more original locals to the Disney+ service, another strong theme among streamers in the last few years. They are hoping to increase the number of both scripted and unscripted content from the home market, wherever that may be, for all subscribers. 

There’s some pep in the box office this year, for certain. One of the few non-sequel, non-franchise installments to hit the screen in recent years has turned in a fantastic performance and seems set for even more. Entertainment law firms los angeles at Blake & Wang P.A., Brandon Blake, fills us in on Project Hail Mary’s mostly unexpected success.

Brandon Blake

An Amazon-MGM Best, and One for the Originals

Let’s be specific. This is only one of two non-sequel, non-franchise films to pass the $80M mark for its opening in the last decade. The other? Oppenheimer. So the film has already managed to wedge itself into a very exclusive club. Not really what anyone expected from a self-described “space epic” with 0 built-in audience other than, we can assume, those who enjoyed the book it is based on.

However, it does serve to hammer home something that the box office and theater-goers have made very clear, but Hollywood seems determined to ignore for the silver screen. Original stories are thriving among audiences.

The film managed to bring in $80.6M for its domestic launch. Also, incidentally, the strongest opening of this year so far. It is also a new best for Amazon/MGM. All in all, the film added $60.4M from 80 overseas markets, where it was the No. 1 release in 60 of those markets. This gives it a launch weekend north of $141M, likely 2026’s best start to date, especially for a Hollywood title. For Ryan Gosling, the movie’s major lead, it is the biggest domestic opening in his career so far. 

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A Feather in Amazon’s Cap

In recent years, Amazon MGM has been putting great effort into being accepted as a “real,” fully-fledged Hollywood studio. As the tumultuous Paramount-Warner Bros deal raises new fears about consolidation and job losses, as well as what this could mean for one of Hollywood’s most famous legacy studios and its future output, this has to be seen as a major win for that goal.

It also says a lot about the fears that the cinema only has space for sequels, threequels, reboots, and (sometimes endless) franchise installments. While it’s true these have been scarce on the ground from major players, it’s clear that the audience's appetite for smart original storytelling is still very much there. It may be a completely different audience and genre, but consider Hoppers’ recent performance as well, again one of the few original titles we’ve seen from Pixar in many years.

Project Hail Mary was originally expected to debut in the $50M to $60M range, but it has found its spot with both critics and general audiences. In fact, it has some of the best audience polls we’ve seen in a while, too. On Rotten Tomatoes, the film scored a near-tie among critics (95%) and audiences (96%).

It may be 2025 for a few months yet, but advertisers are already looking ahead to 2026’s advertising lineup. Just this past week, we’ve seen the first studio announce its plans for next year’s Upfronts Week. With all the inside news, we have Brandon Blake, Entertainment lawyer at Blake & Wang P.A.

Brandon Blake

NBCUniversal Returns to Radio City Music Hall

An Upfronts regular, NBCUniversal will be returning to its home at the Radio City Music Hall, with its main presentation set to take the stage on May 11, 2026. They will be followed at the venue by a Telemundo-specific event the next day, where the Spanish subsidiary will host a cocktail reception.

For them, it will be a somewhat triumphal return, as they were ousted from the spot by Amazon this year. It will be an important one for them as well, with Telemundo having taken the full Spanish-language rights to the upcoming FIFA World Cup. This will make securing strong advertising partnerships essential if the investment is to pay benefits.

Changes Ahead

Unsurprisingly, NBCUniversal is also hoping to use its Upfronts platform to pitch Versant, the spin-off company set to take control of its cable networks. Despite the separation, the new company will still have NBCU at the helm of its advertising sales for quite a few years, under the terms of the agreement for the split. While NBCUniversal will retain Bravo, all other cable networks are set to leave with the new entity.

This will also be the 100th anniversary of the company, so we can expect some celebration among all the ad inventory buying. NBCU has taken a wide-ranging approach to its ad sales of late, offering a string of live events throughout the year, with horizons equally as deep, rather than focusing solely on individual Upfront presentations.

Other Key Players

Of course, while NBCU may be the first to announce its Upfronts plans, it will be far from the last. Especially as we have seen so many of the historically tech-owned streaming platforms move from the NewFronts over to full Upfront presentations. This year, we saw not only Netflix, but also Amazon and YouTube take center stage with Upfronts presentations, over some of the legacy broadcast studios we would have typically seen.

This will also be a milestone Upfront for Paramount, which has only recently finished its merger with David Ellison’s Skydance. Somewhat hamstrung by the regulatory proceedings surrounding the merger, they have lost some ground in the overall “streaming wars”, and will no doubt be looking to increase their profile for ad buyers. Will we see them return to a full Upfront presentation, or stay with the more withdrawn strategy of the last few years?

There are big changes coming for Warner Bros Discovery as it prepares to once again split into two separate entities. Reportedly, there is already buyer interest in its planned remaining 20% in the network spinoff entity it is in the process of creating. To bring us the full story, we have Brandon Blake, top entertainment law firms los angeles at Blake & Wang P.A.

Brandon Blake

Looming Split

As Warner Bros prepares to spin off its networks as part of its wider corporate restructuring, Gunnar Wiedenfels, currently CFO at Warner Bros. Discovery and the future CEO of the spin-off company, Discovery Global Networks, has gone on record reporting that buyers are already circling the planned 20% remaining stake the new entity would have kept.

In fact, there have even been queries around whether this stake could go on sale before the expected close of the spinoff transaction, currently planned for 2026. However, this is unlikely to be practical for the new entity, which will need to come out of the split with reduced debt. WBD is still struggling under the $43B debt relating to its earlier merger with Discovery, and it has been a notable drag for the company, especially on its stock pricing.

Seeking Value

It is likely this optimization of value will be a major priority for the company, which will be keen to prevent adding another tax hit to this existing burden. Current CEO, David Zaslav, is earmarked to remain as the CEO of Studios and Streaming, per the plans first revealed in June this year.

Warner Bros. is not the only studio looking to spin off its cable and network assets. We have already seen Comcast create Versant, set to be the new home of NBCUniversal’s cable assets (bar Bravo), a deal that should close in the next few months. Disney is also shopping around for interest in A+E Global Media, in response to the shrinking of the Pay-TV bundle market.

However, linear networks are far from dead and still generate considerable cash flow. It’s simply that the sector is in decline as streaming has risen to be a competitive alternative force in the home media entertainment landscape. This swing to consolidation and focused business entities for cable networks could be the right move for a sector that still has value, even if its market share is in decline, allowing potential buyers to consolidate, restructure, and refine the business model for a changed entertainment sector.

For productions looking for a tax-friendly filming location, the possibilities have now opened up further, with Wisconsin announcing a new program to bring film projects to the state. With further details, we have our expert entertainment attorney, Blake & Wang P.A.’s Brandon Blake.

Brandon Blake

A New Program

Under the terms of the new program, productions shooting in Wisconsin can look forward to a 30% tax incentive. The program, which is a new establishment, has a cap of $5M, which will continue until at least 2027. The state will also be creating its own official film office. This lets the state throw its weight into the hosting race we’ve seen developing among US states since 2021.

Before the budget was passed with bipartisan support, Wisconsin was one of only 13 US states without any kind of tax credit program for productions. We’ve also recently seen Texas expand its program by $100M per two-year interval. With their funding OKed through to 2035, we could see as much as $1.5B up for grabs in incentives over the coming decade. In Wisconsin’s new program, productions can claim back 30% of their spending for costs incurred in the state, ranging from food and lodging to set construction and post-production spending. The cap is currently set at $1M. While it isn’t entirely clear, it does seem like some above-the-line costs will be counted, based on the language for production expenditures in the governing rulings, which appear to include casting and writing.

In addition to films, TV shows with an episode run time of at least 30 minutes and a budget of at least $100,000 can also apply. If the production is shorter than 30 minutes, this is lowered to $50,000. Awards and talk shows are disqualified.

Aiming to be a Destination of Interest

With this new incentive, Wisconsin is hoping to attract its share of the economic incentives that having productions filmed in the locale can offer. The reaction from local members of the film industry has been mostly positive, especially with the foundation of a state film office for the area.

Many in the industry feel that Wisconsin is an ideal filming destination for Hallmark and thematic movies, such as Christmas fare. After all, while the program is an excellent step in the right direction, Wisconsin will still be competing with several film hubs that can offer eight- and even nine-figure caps for their tax programs. However, in a location landscape that is getting quite crowded, finding a niche may well work for the state.

Is a “tariff” on non-Hollywood and non-local productions really the way forward to a healthier domestic film and TV industry? While in the current climate of on-and-off announcements, it’s (probably) unlikely we’ll ever see President Trump’s threatened tariffs on non-local content come to life, at least not as originally portrayed, it’s worth looking a little deeper at what the recently proposed tariffs could mean for the industry after last week’s surprising announcement. Brandon Blake, entertainment attorney Los Angeles at Blake & Wang P.A., has some further insight to share.

Brandon Blake

Movies Made in America, Again

As with most of the announcements made around “Liberation Day”, the suggestion last week that non-domestic movies would be subject to a rather steep 100% tariff came as a surprise. Then, again, as many of the tariff-based trade negotiation tactics we’ve seen so far, was almost immediately rolled backwards— for now. What will come in the future is less certain.

While it is always positive to see the government take an interest in the industry and its needs, it’s debatable if yet another clumsy and difficult to enact in practice tariff is the way ahead. Especially given that movies and entertainment productions aren’t, strictly speaking, the “products” to which tariffs traditionally apply, usually falling in the “services” category that most of the US’s key exports do. Typically, this is seen as a sign of a mature and healthy economy.

While claims that foreign-made movies are a “National Security threat” may be a step too far, let’s be honest— the new administration is partly right. The decline in local shoot days, both in LA and throughout the country, have not been missed. Nor have the knock-on effects on the job market. Whether you also see that as other nations “stealing” the domestic movie industry, or simply the inevitable result of globalization and more competitiveness from offshore location shooting destinations when not all US destinations have kept up, however, is a different matter.

Would it Work?

The real question, however, is whether tariffs at any level (we’re unlikely to see 100% in the final reworking of this idea, if it even rises again) can even be applied to movies, as a non-physical product. Not to mention whether this tariff, if even enactable, would make a meaningful impact on the downturn in the local entertainment industry-little suggests it would become more than another “tax” to weather.

Currently, we have no idea when, or even if, the idea of foreign film tariffs will rear their head again. On the legalities front, however, it’s pretty clear. Tariffs are only applied to goods, not services. Which calls the legal enforceability for a potential tariff into question without some restructuring of how the whole tariff system is applied.

That aside, however, it’s also a lot easier to promise than provide, given the many (many) questions raised, from what (and when) it would apply to, through how to handle it over streaming, if we’re talking just filming location or also financing, who would handle enforcement, and more. Opening up the idea of “tariffs” for services may not be a net positive for the US and its mature markets over all industries, either.

In this lawyer’s opinion, it’s a positive sign of government attention to an important issue for the industry. We’d likely, however,  see higher net positive results from instead focusing on efforts to reinvent and re-establish the domestic industry as an appealing one, through lowering the costs of doing business in the US, improving tax incentives, streamlining union regulations, and fostering local growth, rather than trying to tax our way out of a crisis caused by lack of evolution to changing entertainment markets.

Since it was first announced that the Sundance Festival was looking for a new home, speculation about where the festival will land has been strong. While we were initially expecting the announcement of the new host venue to follow the 2026 edition of the festival, they have now announced their new home. The 2026 festival itself will stay in its current Park City home. To fill in all the details, we have Brandon Blake, the usa entertainment lawyer at Blake & Wang P.A.

Brandon Blake

Best of Three

Boulder City, Colorado, beat out the other two finalists (Salt Lake City, close to its current venue, and Cincinnati, Ohio) to take the crown. Poetically, the Sundance Institute stated that it selected Boulder for its “mountain views, its vibrant arts community, its proximity to a major international airport in Denver, and its walkability and accessibility.” According to the plans that've been announced so far, most of the festival will take place in downtown Boulder, but it will also center some events around its pedestrian-only Pearl Street Mall.

Boulder, which is typically seen as a trendy and eclectic college town, fits the festival's profile well. With strong technology and artistic communities, it also has the “tourist appeal” and general vibrancy that match the Sundance “brand.” In fact, it’s somewhat reminiscent of Park City before Sundance made it its home.

A New Face of Sundance

It’s worth remembering that Park City was once a walkable and artsy town and that much of the expanded hustle and bustle has been brought in by Sundance’s lengthy tenure there. So, while it’s understandable that Sundance sees that as a positive, it’s also a little cheeky.

Of far more importance, however, is the fact that Park City has been losing many of the multiplexes Sundance relies on to host its screenings, needing them to spend major dollars on temporary venues that would have been better used for the festival itself. The Sundance Institute has gone to great lengths to reassure both us and the potential host cities that the move is a logistical one, not a financial or political one.

When Sundance first announced it was looking to relocate back in April 2024, well over 100 cities entered the running. Sixty-seven cities initially made the cut, with 13 progressing and a final 6 “semi-finalists” selected. Of those, we saw the final three released earlier this year.

However, Sundance was using 7 key areas (financial sustainability, inclusion and accessibility, transportation, hospitality, ethos, host partner support, and event readiness) to select their next home.

 It’s also clear that they are hoping to bring in new, younger festival attendees, which doubtless makes Boulder’s college town vibes appealing. Add to that the centralized convenience of Denver International Airport and the notable film department at the University of Colorado, and the selection makes sense. Community is almost built-in.

A lot has changed in the industry post-COVID and with the dawn of the streaming era. One of the most unpredicted, however, has been the shift away from classic on-location areas to explore the boom in tax credits and other incentives across a wealth of compelling destinations, both global and domestic. With such fierce competition, it takes thinking beyond just tax credits to lure producers. Our industry expert, Blake & Wang P.A. entertainment lawyer Brandon Blake, offers his thoughts.

Brandon Blake

The Crew and Infrastructure Conundrum

In a world where there are juicy tax credits to leverage on offer in a variety of locations, those tax credits are a great start but may not be all that’s needed to position a destination at the top of the list. Especially as international destinations, which may also have weaker currencies that make dollar spending go further, enter the playing field. In fact, US production over all states is down about 26% on 2021 stats. While some of that is due to the overall market downturn, the rest is not.

For indie producers, especially, they need a low cost of doing business and available crews to pair with that rebate. Locations are now competing on a global scale. And crews and soundstage infrastructure, like productions, move where the work is. Nevada is currently contemplating offering a tax incentive for developing film infrastructure in the area, and it will be interesting to see if that comes to fruition and how well it plays out. Sony and Warner Bros. Discovery are reportedly interested in this dangling carrot already.

Axing the Red Tape

For smaller productions, which may be, well, small within themselves but make up the bulk of on-location shooting work, timelines, budgets, and schedules are tight. They can’t always wait to hear if they’ve been approved over months, which is a key flaw with California’s current tax credit system. They also don’t always have the scope and support to navigate the murky waters of red tape, trying to determine if funding is available and the exact intricate process needed to bring it to fruition.

Uniform, simple, and predictable administrative processes are of the essence. So is treating all productions, regardless of size and “clout”, the same. Take, for example, states like Kentucky and Oklahoma, where the rebate system removes the need to sell credits back via a broker. In fact, simply streamlining permitting and centralizing the process can be enough to make a destination appealing for an indie shoot.

Some argue that a federal-level office to control and streamline this could be the way forward. After all, in many international destinations, the ability to access a “one-stop shop” for all their needs is a major drawcard, as we see in Bulgaria. Focusing on a similar central source domestically could be a valuable tool in the US location shoot toolbox, but it will be a tough sell, given how much local governance works.

With Veteran’s Day now receding behind us, the box office has another lesson to deliver about why indie movies matter to its bottom line. While Venom: The Last Dance unsurprisingly took the top spot, a considerable portion of the top 20 represented indie and niche movies, often with performances better than expected for their category. Our industry insider, review entertainment attorney Brandon Blake from Blake & Wang P.A., shares the good news.

Brandon Blake

Modest Budgets Win

Venom: The Last Dance may have taken the weekend’s No. 1 spot, but with the slates over Veteran’s Day weekend, that’s unsurprising. Nor was it a particularly compelling gross, at $16.2M. However, the movie has taken almost $400m globally and has the potential to match the $507M of its precursor, so it is still on a strong trajectory.

A24’s Heretic and Lionsgate’s The Best Christmas Pageant Ever fought it out for the No 2. spot, both pulling in around $11M, better than projected and outpacing their modest budgets. Nor were they alone in these performances. This was a remarkably eclectic Top 20.

Typically, studios push blockbuster fare for Veteran’s Day weekend due to the four-day holiday. This year, however, the elections being so soon before Veteran’s Day, coupled with a general reduction in film output still from last year’s strikes, meant that many larger releases were intentionally delayed. The moderate and lower budget film tiers benefited greatly. The Best Christmas Pageant Ever has some potential to become a sleeper hit, especially with some holiday theming and strong word of mouth to play with.

The Role of Inexpensive Originals

While many are pinning their hopes on the upcoming releases of Moana 2, Gladiator 2, Red One, and Wicked to keep the box office pumping strongly into the new year, this weekend’s slate showcases the critical role of inexpensive original films in keeping both box office attendance and theatergoer interest high.

Only five films in the Top 20 grossing films this weekend could be classified as medium to high budget. Meanwhile, specialty films like Conclave, Anora, and We Live in Time have thrived, with impressive runs for their class. Terrifier 3 continues to perform amazingly, while Elevation and Overlord: The Lost Kingdom turned in respectable performances.

The weekend even saw strong performances from three Indian releases, a Taiwanese production, and the British animation Hitpig. In short, there was something for any taste to enjoy. And therein lies the real magic.

This weekend proves what industry analysts have long argued — a healthy box office needs diversity. While tentpole releases remain crucial revenue drivers, mid-budget and indie films maintain steady attendance between blockbusters and capture audiences seeking more varied content. They also serve as testing grounds for emerging talent and fresh storytelling approaches.

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