Valuetainment - ＂Tsunami Of Shift＂ - Disney LAYOFFS & Hollywood COLLAPSE Sparks Media Upheaval

00:00:00.000 So, Disney is laying off several hundred employees across film, television, corporate finance with a source stating that layoffs affect multiple teams around the world, including film, TV marketing, TV publicity, casting development.

00:00:10.600 This follows previous cuts, including 7,000 jobs in 2023 to save $5.5 billion and nearly 6% or fewer than 200 people as ABC's News Corp and Disney Entertainment Networks in March.

00:00:22.420 The layoffs are part of Disney's response to the migration of cable TV audiences to streaming platforms as the company under Bob Iger reshapes its business strategy amid industry turmoil.

00:00:33.320 And then you hear Hollywood has left L.A.

00:00:36.080 Actor Rob Lowe described the scarcity of experienced crews in L.A. noting a production in Atlanta where our dolly grip had never been on a set before and he'd applied for the job because he'd worked at a dolly at Costco.

00:00:51.240 He said the state of the business is so bleak now that even I am willing to consider shooting outside of L.A.

00:00:56.980 because the opportunities here are just gone away.

00:01:00.540 Film L.A. reported 2024 as the worst year for local filming with only about a fifth, damn, of American movies and shows shot in L.A.

00:01:08.620 Production has shifted from L.A. due to generous tax credits elsewhere with New York offering a 30% base credit with a 10% upside upstate bonus.

00:01:17.240 Subsidizing shows like the HBO Gilded Age with $52 million.

00:01:21.500 Producer Jason Blum said shooting Night Swim in L.A. costs an extra $4.5 million while the Good Place creator Michael Schor noted cost efficiency is now the primary focus of a lot of TV and film production.

00:01:34.800 California's 20% credit capped at $330 million excludes major salaries pushing projects to places like Georgia with uncapped incentives.

00:01:43.180 Well, there's two big stories in here.

00:01:46.120 Headline number one, this is exhibit 54 of the shift that's happening in media right now.

00:01:54.880 And Disney is having trouble.

00:01:57.140 ABC, ESPN.

00:01:59.080 When you take a look, let me give you an example.

00:02:00.740 Our good and great friend Stephen A., you heard him on this program talking about all of the avenues where he's going to be used by ESPN.

00:02:11.200 Again, I'm not talking about Sirius.

00:02:12.840 I'm not talking about the other things he's doing.

00:02:14.360 He's going to have his own thing on Sirius.

00:02:15.840 He's also going to be on the POTUS channel on Sirius, apparently.

00:02:19.240 I'm talking about just within the things that he's going to do in the ESPN contract.

00:02:23.420 You know, that would have been a one-man, one-show, one-item contract if it was Anderson Cooper at CNN.

00:02:30.460 Do you see what I mean, Vinny?

00:02:31.500 Yeah, you're going to get $30 million just sitting in a chair from 5 to 7 o'clock each day.

00:02:35.600 That's it.

00:02:35.940 That's all we want to do.

00:02:36.960 What about this?

00:02:37.540 I'm not going to do that.

00:02:38.120 You're only doing one thing.

00:02:38.960 What's happening now, these contracts are for more things.

00:02:41.540 Now, Stephen's got a great voice, and he can be used in a lot of ways and everything, and he's growing, and all that's good.

00:02:46.860 But Disney as a whole is in the middle of a complete tsunami of shift.

00:02:52.340 There are two things that are working right now.

00:02:54.980 Disney+, which is basically a Netflix competitor.

00:02:58.860 It's all the programming that they've got, all the Star Wars.

00:03:01.440 And theme parks, those things are working at Disney.

00:03:05.800 Everything else is shifting.

00:03:07.560 Merch is shifting.

00:03:08.980 The big channels are shifting, and they're shifting the big channels, as evidenced by the athletes that were cut on ESPN, the dollars that they've cut.

00:03:17.380 They bought certain things, but they've been optimizing it.

00:03:20.360 Give Stephen A. the money.

00:03:21.640 We're going to use him.

00:03:22.900 Fewer, bigger stars and names to use things.

00:03:25.840 So that's what's happening at Disney.

00:03:26.920 It's the same thing that's happening at CNN.

00:03:29.360 And by the way, Pat, would you like to know what CNN's debt, which is corporate bonds, are rated?

00:03:37.380 What's that?

00:03:38.160 They got downrated to BB+.

00:03:40.180 Are you kidding me? 0.80

00:03:41.180 Which is one step from junk. 0.89

00:03:43.960 Wow.

00:03:44.640 Junk bonds.

00:03:45.520 That's not me calling it junk, folks.

00:03:47.180 There is a formal word for bonds that are high risk because what you're investing in, you're going to get a good interest rate, get a good return, and it's called junk bonds.

00:04:00.840 It's risky investment, but you're going to get a good return if you live through the life of the bond.

00:04:05.960 And CNN bonds have been, excuse me, Warner Brothers Discovery, WBD bonds, have been moved to one step above junk, and they have now called the thing called SpinCo because they're going to spin it out.

00:04:19.800 And they couldn't think of a brand, so, Pat, they're calling it SpinCo.

00:04:23.420 We'll let you know we're going to call it later, but we're calling it SpinCo, and we're going to put CNN in it.

00:04:27.420 We're going to put a lot of things in it.

00:04:29.080 And TBS says, hey, can I have $2 billion to renew the NBA?

00:04:32.080 No.

00:04:32.400 No.

00:04:33.720 No.

00:04:34.320 Well, they're going to go elsewhere.

00:04:35.560 I don't care.

00:04:36.200 We're trying to save money.

00:04:37.400 And they're putting all of this stuff in a soup, and they're trying to spin it out.

00:04:40.960 So that's what's happening in Hollywood.

00:04:42.460 In Disney, the Hollywood story is they're a bunch of globalists and a bunch of leftists, but guess what happened to them?

00:04:50.360 Capitalism.

00:04:51.220 Other states said, would you like to come film here and employ some people in my state, said Georgia, said Vancouver, Canada, and all these other places.

00:04:59.580 So in the midst of socialist Hollywood, capitalism came to play and ate their lunch.

00:05:07.480 California's lunch got eaten, and now all the Hollywood spending is elsewhere.

00:05:12.240 Because you know the liberals at the top of entertainment companies, Vinny?

00:05:17.260 You know what they have?

00:05:18.680 Stock options.

00:05:19.760 They have stock options in their public companies, and it's like liberal by day, capitalist by night when I'm home looking at the stock and looking where things are.

00:05:30.580 We can make more money, sir, filming in Georgia, and they're going to give us tax credits.

00:05:34.280 What the hell are you waiting for?

00:05:35.700 Get to Georgia. 0.64

00:05:36.740 And that's what Rob Lowe's talking about.

00:05:38.040 So this is a massive tsunami shift that's happening in media, and it's not getting any better, and there's just more numbers coming out, and now Disney's laying off people, and the only thing's working is Disney Plus and theme parks.

00:05:53.120 Yeah, I mean, I'm just going to revisit what I said earlier.

00:05:55.520 I don't really care about California at this point.

00:05:57.120 They've lost my mind.

00:05:57.900 They don't deserve any more of our attention.

00:05:59.300 Every story you hear out of California is just like, they're falling.

00:06:01.960 They're falling apart.

00:06:02.780 Everyone's leaving.

00:06:03.460 Nobody wants to be there.

00:06:04.440 You just said California four times in a sentence where you said you didn't care.

00:06:07.200 Yeah, thanks, Tom.

00:06:08.940 The one constant in life is change, and disruption has taken over every single industry, from politics to money to Bitcoin to media, and Hollywood is just the latest victim of disruption of social media and Netflix, what have you.

00:06:26.760 Other places are doing it better, faster, cheaper, and there's really no reason to stay in L.A. to do the Holly weird stuff anymore.

00:06:36.100 Follow the money, tax incentives, high-cost productions, unions.

00:06:41.240 You know, in the middle of a shoot, there's homeless people walking on set.

00:06:44.620 The COVID, the overreach, it's just...

00:06:47.100 I mean, you make me want to cover one more California.

00:06:51.080 You make me want to leave the one I'm with.

00:06:53.460 Start a new relationship with Joe.

00:06:56.040 California. 0.97

00:06:56.760 I'm just so over California and their nonsense.

00:06:58.360 Well, then, last year, we ran one of the coolest contests ever, and I thought it was going to be a basic dinner and meet and greet and all this other stuff.

00:07:06.740 It turned into a massive spectacle.

00:07:08.780 It was a Manet contest for two months for lightweight, middleweight, heavyweight, and super heavyweight, and even users got involved.

00:07:14.660 And we invited the top three.

00:07:16.600 You pay your flight, hotel, all that stuff.

00:07:17.920 But once you came here, we went to dinner together at Casa D'Angelo, top-notch dinner.

00:07:22.260 Then we went to the cigar lounge, and it was such a great time.

00:07:25.860 We stayed together until midnight.

00:07:27.060 We had six and a half hours of conversations.

00:07:29.260 I'm going to show you the highlight from last year.

00:07:31.780 Then I want to announce this contest for all of you guys to compete in from June to July, and the dinner will be sometime in August.

00:07:38.420 Rob, play this clip.

00:07:39.100 Go for it.

00:07:39.500 We just had our first Manet dinner.

00:07:43.480 Let me tell you, it was so awesome, because we had the dinner.

00:07:45.840 It was absolutely an amazing experience.

00:07:50.180 The conversations, the networking, great.

00:07:56.420 People from all over the world, so I said, maybe I'll stick around for an hour, maybe an hour and a half.

00:08:01.700 But then afterward, we came right here at the cigar lounge.

00:08:07.400 I stayed till midnight.

00:08:09.000 We had six and a half hours of conversations.

00:08:12.060 That was fantastic.

00:08:14.020 So if you weren't there, you missed it.

00:08:15.860 We wish you were there, but I'll give you one counsel.

00:08:21.820 We're about to announce the next contest.

00:08:24.340 Do not miss the next Manet contest.

00:08:29.580 And I hope to see you there.

00:08:31.840 By the way, it was so great.

00:08:33.200 Deals were done.

00:08:34.120 Relationships were built.

00:08:35.380 Conversations.

00:08:35.820 So go download the app if you haven't yet, whether it's Apple or Google.

00:08:39.780 Start Manet-ing.

00:08:40.820 Ask questions.

00:08:42.260 Nowadays, we got Ray Lewis that's officially on Manet.

00:08:44.920 And who's responding back to people on Manet.

00:08:46.820 By the way, Stephen A.

00:08:47.620 Smith's going to get active on Manet on today or tomorrow, starting his account for.

00:08:51.500 People can ask Stephen A.

00:08:52.640 Questions.

00:08:52.980 James O'Keefe.

00:08:53.420 Anna Kasparian, James O'Keefe, Paul Saladino, Terrence Howard, Cuomo.

00:08:57.960 There are so many great people.

00:08:59.700 Lindy Lee is crushing it on Manet, the way that it's going.

00:09:03.200 And by the way, who knows who's going to be at this dinner when we host this.

00:09:06.060 So if you like good conversations, if you want to come to South Florida, we're going

00:09:09.340 to probably give you a tour to headquarters as well when you come down here.

00:09:11.680 Then go straight to dinner.

00:09:12.780 Then go straight to the cigar line, which is a private club.

00:09:15.480 But some of you guys will have a chance to be a part of it.

00:09:18.240 And by then, we have a lot of new surprises with the private club.

00:09:20.980 So you'll get a chance to tour as well.

00:09:22.460 So download the app.

00:09:24.020 Start Manetting. 0.97

00:09:24.800 Start competing.

00:09:25.720 The update on the Leaders Bulletin will be on Manet.com.

00:09:28.200 Rob, if you go to Manet.com, just go to Manet.com.

00:09:30.440 And if you look at the contest, on the experts, that's how it works.

00:09:34.340 OK?

00:09:34.640 If you look at a lightweight right now at the top is Dean Mason.

00:09:37.660 James O'Keefe right now is second place.

00:09:39.140 Then it's Luis Concior.

00:09:40.180 Go to a middleweight, Rob.

00:09:42.020 Middleweight right now is John Mason.

00:09:44.200 Then Lily Tam.

00:09:45.040 Then it's James Murphy.

00:09:46.320 Let's go to heavyweight. 0.60

00:09:47.400 Heavyweight, because everybody from heavyweight goes to super heavyweight.

00:09:49.880 So it's Daniel, number one.

00:09:51.200 Daniel.

00:09:51.620 Michael Maher, Matt Sopala.

00:09:52.820 Then it's super heavyweight is what?

00:09:55.240 Super heavyweight is Lindy Lee, myself, Timothy Ryan, Oshana Tom Sauce, Dennis Punemann, a couple other guys.

00:10:01.100 By the way, the scoring will be the following.

00:10:02.780 To compete the next two months, lightweight will have to do a minimum of 200 points.

00:10:06.560 You have to be lightweight today.

00:10:07.720 You can go up, but we're going to calculate your points from today.

00:10:10.460 Middleweight, you have to do a minimum of 400.

00:10:13.160 Heavyweight is a minimum of 400 points.

00:10:14.560 And super heavyweight has to be 1,500 points.

00:10:16.900 And the user's contest, go to user's wrap, a new user goes out there, 200 points you score.

00:10:24.140 New users, existing user has to be 400 points.

00:10:27.120 You'll be invited to that dinner and a cigar lounge with us.

00:10:30.260 Go download the app.

00:10:30.940 Start connecting today.

00:10:31.800 If you enjoy this video, you want to watch more videos like this, click here.

00:10:34.560 And if you want to watch the entire podcast, click here.

00:10:37.340 Bye, I'll see you once again.

00:10:42.620 Bye.

00:10:42.780 Bye.

00:10:43.180 Bye.

00:10:43.260 Bye.

00:10:43.680 Bye.

00:10:44.120 Bye.

00:10:44.260 Bye.

00:10:44.420 Bye.

00:10:45.220 Bye.

00:10:45.400 Bye.

00:10:45.780 Bye.

00:10:46.600 Bye.

00:10:47.140 Bye.

00:10:47.560 Bye.

00:10:49.560 Bye.

Valuetainment - June 06, 2025

＂Tsunami Of Shift＂ - Disney LAYOFFS & Hollywood COLLAPSE Sparks Media Upheaval

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