Clownfish TV: Audio Edition
Hollywood PANICS Like Its 1999! YouTube and Tubi Eats Their Lunch!
Hollywood is facing an existential crisis, as tech was in 1999. And next week’s Sun Valley Summit might make or break Hollywood studios and streamers. It’s DIRE. And even The Hollywood Reporter is casting doubt on whether or not Disney Plus will be profitable this year. ➡️ Tip Jar and Fan Support: http://ClownfishSupport.com ➡️ Official Merch Store: http://ShopClownfish.com ➡️ Official Website: http://ClownfishTV.com ➡️ Audio Edition: https://open.spotify.com/show/6qJc5C6OkQkaZnGCeuVOD1 About Us: Clownfish TV is an independent, opinionated news and commentary channel that covers Entertainment and Tech from a consumer’s point of view. We talk about Gaming, Comics, Anime, TV, Movies, Animation and more. Hosted by Kneon and Geeky Sparkles. Disclaimer: This series is produced by Clownfish Studios and WebReef Media, and is part of ClownfishTV.com. Opinions expressed by our contributors do not necessarily reflect the views of our guests, affiliates, sponsors, or advertisers. ClownfishTV.com is an unofficial news source and has no connection to any company that we may cover. This channel and website and the content made available through this site are for educational, entertainment and informational purposes only. These so-called “fair uses” are permitted even if the use of the work would otherwise be infringing. #Hollywood #Streaming #Disney #Tech #News #Commentary #Reaction #Podcast #Comedy #Entertainment #Hollywood #PopCulture #Tech
Hey guys, this is the audio edition of clownfish TV. If you guys are unfamiliar with clownfish TV, please check out the video versions of these episodes on the clownfish TV YouTube channel and also on the clownfish gaming YouTube channel. Please subscribe for more podcast. Check out D-Res, that's our other podcast. The episode will begin in a couple of seconds. Thanks for listening. (upbeat music) Hey guys, welcome back to clownfish TV. This is neon. I am here with geeky sparkles. - Hello. - And we're gonna talk about Hollywood freaking out. They're freaking out. They're gonna have this sun valley hoe down again. And they're thinking that it's gonna go down like the dot com bubble. 99 in 2000, because they said everybody's desperate. They're all desperate to make deals. And the Hollywood reporters actually calling out that none of these services look like they're gonna be profitable in time, including Disney Plus. - A shocker there. - Oh my God. And they're also pointing out, like we've been pointing out, that all these studios basically blew themselves up chasing streaming. And now they don't know what to do about it. So they're all gonna have to like merge together and we might wind up with just a handful of streamers and a whole bunch of decimated Hollywood studios. Meanwhile, YouTube and Tubi are doing just fine. They're doing just fine. And Tubi, which is owned by Fox, they played Disney. - But you brought up like, I remember as soon as they bought they bought it after he took the money and bought it. You said, what are they gonna do? Use it to make a streaming service to compete against Disney. And you said, why didn't Disney just do that in the first place 'cause the structure was there? And you said that years ago. - Yeah. So three years ago. And look, I'm not trying to be like that. - And you said it even before then. At least I know back channel and on our slacks and stuff you're talking about it, yeah. - Yeah. So what happened was Rupert Murdoch smartly sold off all of the current Fox assets minus Fox News. I don't think Disney would have wanted Fox News, but they couldn't have it anyway 'cause they already had ABC, right? So he had a garage sale and he sold Disney, all of his old stuff, all the old IP, whatever. And Disney stupidly overpaid for it because Comcast ran it up and Bob Iger is arrogant. And his hubris cost Disney probably two to three times what the Fox assets were actually worth. Rupert Murdoch took a little tiny bit of the $71 billion that Disney spent on Fox's used crap. And he went out and he bought 2B for like $400 million. And how they talk about real estate, good bones, like the platform was already built. It was already to go. All you had to do was filled up with new content. Disney could have spent, instead of spending billions of dollars building Disney Plus from scratch, they could have just bought 2B for a half a billion dollars and just put Disney content on it. But oh no, we had to, we had the way over spend. And now 2B is kicking people's asses. - That's catching up, yes. - They definitely are. - Oh, YouTube, which we've already told you many times YouTube's been the top of the strum of the streaming, but the top of things you were watching for a while now. - Yeah, so let's talk about this, Hollywood freaking out. And they all wanted to do it and they didn't do it very smart. They thought they just threw a bunch of money at it, a money at content nobody wanted to watch, like the freaking grease prequel that was so bad they had to take it off a Paramount Plus or Willow that they had to take a write down, take it off of Disney Plus. Yeah. - Well, let's see what stupidity they get in trouble for this year at the Sun Valley 'cause last year, that wasn't that Bob Iyer said about the strike and they deserve the money into that led to a bunch more stuff, a lot more crap because it's not the comments he made around the Sun Valley issue. - Yeah, and they're pointing out that they don't think Disney Plus is gonna be profitable by the end of the year. - Oh no, 'cause they're, as I put out many times, they're rolling Disney Plus into just Disney streaming. I know they're leveraging Hulu to cover everything else. - So let's talk about this before you enter it any further. We're into it pretty far already. Please subscribe for more pop culture news views and rants, guys, you get woo-hoo if you do. - Woo-hoo. - Yeah, so this dropped on the Hollywood Reporter this morning as moguls make Sun Valley plans, fear of big tech echoes and deal-making haven. They're all scrambling to try to make deals to survive. They say their private jets are on route to Idaho. - Idaho, so let me get this straight. So all these big Hollywood, big Silicon Valley deals are taking place in Idaho. Executives are gearing up to make significant changes in order to future-proof their businesses from disruption. - Too late. - It sounds like it's 1999 again. They actually are drawing parallels between the end of the dot-com bubble and how people were saying, hey, shit's gonna get real. Everybody way overspent and most of these companies aren't gonna be around. And they're pointing out that, yeah, hardly any of the companies that were huge in the late '90s or early 2000s are around anymore. Everything changes. AOL's even gone. But they're gonna try to. They said, yeah, they said their reporters everywhere said one Sun Valley attendees speak anonymously to the Hollywood Reporter for a July 1999 news item. So this was, yeah, they said the parallels between 1999 and 2024 are very, very hard to miss, right? 'Cause back then, investment banker, Herb Allen, had this exclusive- - Summer Camp-a-mogals. - Summer Camp-a-mogals. And he basically said, look, the bottom's gonna fall out of this. I'm not gonna go through the whole article I did read through this, but they said, yeah, the bottom is gonna fall out of the dot-com thing. And it's not looking good. And they said, now both Big Media and Hollywood are preoccupied with how much AI will disrupt their businesses, how much they'll have to remake themselves with AI, to be seen as efficiently, publicly traded companies, they're talking about merging. And he said, the sense of unease, then and now, the executives need to make some big changes soon in order to write the ship to future-proof their farms is pervasive. We all feel that we're on the verge of a big transition. A real convergence of technology and content, an unnamed guest remarked, oh, oh, oh. In 1999, you see history repeats itself, right? They said, yeah, rumors included talks between DreamWorks and Universal, and that happened. And speculation of whether Sony would spin off its own, its entertainment assets, or make an alliance with another studio, all these things happen that they talk about. So there, you get all the way to the very bottom, and they're like, shit is getting real right now. It's everything is going to wind up being mergers, acquisitions, and there's not gonna be a whole lot left. But they said, they're freaking out. They said, this year has made the same executive, same people that were there in 1999, disembarked from private debt. - Well, this shows you failure to, you know, you fail upwards, everybody else has to pay for their failures, but they get to keep making money. - Okay, exactly. They said, Warner Bros. Discovery, just one remnant from that infamous AOL deal that unwound years earlier, AOL, like Yahoo, is now owned by Apollo, is trading near its lows as investors haven't entirely bought into the debt-laden pure play media vision outlined by David Zazlev. Disney with Bob Iger once again at the helm is promising that it's this close to streaming profitability. - I have a cool thing. - And playing a dial back the spending on streaming only fair. But that's actually, the problem is you set the expectation. When you spend as much as you did on the content, and that's why people subscribe to your service. They subscribe to Disney Plus for the Mandalorian, for this initially until people realized that all this stuff is gonna be dog shit, but for Marvel content, whatever. There's no reason for them to subscribe. If you're not gonna give them a whole bunch of exclusive experiences that they can't find anywhere else, there's no damn reason for them to subscribe. - And the thing is about all this, especially for these people, 'cause it's about streaming now, is a lot of them are never viable, and y'all are trying to compete, and except for like, you know, Max, which was HBO, whatever, and then maybe Netflix and, you know, for the big companies and possibly Disney Plus. The other ones weren't gonna work. They never work because Netflix already owned it. The other reason Disney's doing so well is 'cause they put Hulu in there, and Hulu was already established, so was Netflix. You could've just made content for the existing ones, and you would've been a lot further ahead, but no, no, no, and they would've probably helped you, but bankroll some of it. You would've saved money. - Yeah. - But nope, nope, y'all had to have your own thing, 'cause y'all had to see who had the biggest peepee. - That was basically it. It was like, I mean, these companies, they're corporate lemmings. One person does one thing. One company does one thing. Instead of hanging back and being like, "Let's watch them and see if they blow themselves up first "before we go spend a bunch of money on it." No, they were like, "Oh my God, Disney's doing this, "so we need to do it, too." Come on, everybody, and then it was like, "Oh, well, Disney and Paramount are doing it, "and Warner Brothers are doing it." "Oh, we need to do it, too, okay, let's bet the farm "on all the streaming shit that nobody has the money." Like, if you subscribe to every streaming service out there, you're talking hundreds of dollars a month, and most of the shit on these streaming services are not worth watching. You all would have been better off. You wouldn't have lost all that money on all the failures, and you greenlit so many shows that you inflated and you'd be bloated Hollywood's the place that you had the strikes happen, and now the people are gonna be out of work now because of all the bloke and cut, you know? They thought they won, but as we said, it was gonna be the ones who get to stay won, but a lot of people are gonna be cut, and that's what's going on. Yeah, and a lot of people came up in Hollywood. The people that are complaining the most, like you read these articles about, "Oh, I'm a Hollywood writer, "and I'm unemployed, and I'm doing DoorDash," or whatever, and I'm like 26 years old, and I've been working in Hollywood for three years now, and this is all I've ever known. I'm like, yeah, just like in tech, like you came into it during the summertime, and you've never known winter, and winter is coming, and this is-- - Winter is here. - Winter is here, and did I tell people that too? - Yes, but you know, and what makes me-- Here's the thing too, like the ones that are starting to come from behind and beat your asses are like independence, like to be, like YouTube. Well, YouTube was beating you for a while, but like these ones are kicking your asses, and they're more independent, and they don't have, they're not mandating all the, there's some content, I mean, YouTube's all content creation, but you know, it's independence, and what they're doing is they're beating you corporations in your own damn game, and they're doing it in a cost-effective way, and people want what they're offering, and they don't want what you're offering. It's due to get your ass kicked by the little guy. - Yeah, they said that YouTube is growing, and Disney is actually dropping. - Shocker. - It said coupled with the fact that YouTube is also continuing its streak as the most used individual streaming platform, so now they're basically rolling YouTube into the streaming wars. Like, before this kind of YouTube was considered, YouTube was considered social media for the longest time. - Well, YouTube does have like, they have sports and all that, and they're too now technically. - When you do TV, you can. - Yeah, it's starting to be more so, but you know, it's coming for you, Tubi's coming for you, and there's other smaller ones, like Roku TV and stuff, they're all coming in there. - Yeah, this is, again, this is really interesting. It said another detail, and this is where is this coming from? This is coming from Variety, right? They said another interesting detail is that, while most traditional media companies either saw minimal growth or broke even, Fox had the biggest jump from 6.1% in April to 6.4 in May, the growth is partly fueled by Tubi, a channel that has historically not been seen as a major threat to platforms like Disney+ and Netflix. - But look, look, look, look, look at this chart, right? The light yellow is Pluto. It's almost as big as Peacock and Max and Paramount, and Roku's bigger than Paramount, Max and Peacock. And then Tubi is bigger than all of them. Disney and Tubi are about the same. Disney and Channel and Tubi are about the same. The ones that are bigger, the Prime, the Hulu, which are, you know, you know, established, you know, the legacy, Netflix. And then YouTube is bigger than, that all of the legacy ones. But it's interesting to me, 'cause Pluto is almost as big as Peacock, Max and Paramount, Tubi is bigger than Roku, but Roku is bigger than some of the other ones. And then it's about on par with Disney+. Shocker, they literally took the stuff from, they sold it up to their money for a fraction of the cost. Now they're gonna kick Disney+'s ass. They take away Hulu, Disney's fucked. - Pretty much, and Tubi's catching up. I mean, this is, like, this is shrewd business. This is why Rupert Murdoch, you don't have to like the guy, right? But he's damn good at what he does. He knew, he probably knew Bob Iger was an arrogant asshole and he would overpay for five. He's like, fine, you can have over my old shit. I'll just go make new shit. You wanna overpay for my garage sale crap? You can have it, and that's... - Ultimately, the winners Comcast, because they drove up Disney like two or three times to the $70 billion overspend. And then they turned around and Disney had to buy them out of Hulu. Then they had the, yeah, then they had the carriage thing and then they have, yeah, Comcast has taken Disney's money. Again, this is because of Bob Iger's hubris. Comcast has taken Disney's money building Epic Universe, which is gonna kick their ass in the parks, too. And all Disney did, all Bob Iger knows how to do is spend money. - And ruin IP acquires. - And ruin IP that he acquires. They can't take care of what they have. And I think that's what's going on here is that we're seeing that a lot of these studios have too much shit that they've acquired over the years because they thought, because again, they saw Bob Iger, I think, and they're like, "Oh, okay, the key to growth is just buy everything." - You know, it's also interesting. If you look at the light yellow clear up to Tubi, that's the size of like YouTube share. If you look up the light yellow clear up to the Aqua for Disney Plus, that's Netflix's share. - Yeah. - So it's a huge amount of the market. And they keep thinking, "Oh, right, catch up. "You guys are so far away from Netflix, "and YouTube is ridiculous." - Yeah, they said basically Tubi and Roku are doing what Netflix started out doing. - And a fraction of the cost. - A fraction of the cost. Yeah, 'cause they've got all the old stuff. So what's going on is like every time one of these studios writes off one of their turds, it winds up on Roku or Tubi or something that you can watch it for free with ads. That's what they did with, I think, whatever Warner Brothers wrote off. They have a whole bunch of like Warner channels now, and they have a bunch of their science fiction and Westworld and Raised by Wolves and stuff like that, right? The stuff that was, it wasn't making them money. So now they're getting some money for it, but then these channels are also getting to keep the ads. - They're kicking their ass. - They're kicking their ass. - They're getting their leftovers. They're paying for it, obviously, but then they're getting more subscribers. Also, I want to point that out that a lot of them are the ads supported, as opposed to the paid for now. But yeah, so I mean, you can watch that for free and just watch ads. People are going to pick that over subscriptions 'cause people have so many expenses, times they're tough. They're going to go for the Tubi or was it Pluto's free with that supported, Roku's ad supported. Paramount was our Peacock, Peacock's ad supported. But I mean, a lot of the ones that are ad supported, people are going to go with those because they don't have to pay for it. - Well, now Disney's talking about doing the linear channels too. I don't know when they're going to roll that out, but it's going to be on Disney+ they're probably going to have like a Disney cartoon channel and a classic Disney channel. - Yeah, they're going to try to copy Roku and Tubi. - But they still have the overhead. They spent, what was it, 11 billion dollars on content for Disney and some of it, they've already had to write off. - Well, now they're going to run into travel too because well, one, they promise all the people that the entire Disney vault never delivered. - No. - And then two, that we did a video earlier talking about the fact that Disney's trying to leverage your signing the TOS for Disney+ that you agree to never sue them for anything or a part of a lawsuit. You only can go to arbitration. That comes out, people are going to be even more leery to sign on a Disney+ that was philosophy stupid on their legal department's side. So that might bite them in the ass as well. - Yeah, I mean, it's just like, this is the new reality guys. Like it is a Highlander and I think the nimble and the shrewd are going to survive and everybody else is getting low. - I think the independent voices are going to survive. People are tired of corporate bullshit and you get these corporations that are so busy, you know, trying to, you know, take everything they already have and ruin every existing IP they have and sawing their fan base, they already have saying they want a new fan base, they don't want you. So these fans have to go somewhere, they're going to go start liking shows that are their geared and catered to them and independents are still delivering what customers want, what audiences want. And now Disney's trying to, of course, correct like with Inside Out too and it worked. When you give people what they want, they'll give you their support and money. It's really not that hard. - No, it's not. But it's going to be a very painful lesson for Hollywood and I don't think there's going to be much left of Hollywood. I think basically Hollywood and tech are going to kind of merge and whoever owns the rights to whatever shows. But look, IP can live for years on reruns. I mean, look at the Brady Bunch and look at Scooby-Doo. Like our generation watched them in reruns and it kept the brands alive. And they're talking that shows now like Gilmore Girls and all these friends had a second life in reruns. And again, people will go back to old content and they'll watch it again and again. - Go buy the physical copies of it so they don't have to go to your platform at all. If you piss them off and you have the ownership of the content, they'll just go buy the physical copies and watch it there. - Yeah, and I think that's what's going on. I think a lot of these streamers are pissing people off for one reason or another, whether it's a constant price gouging, like every quarter they raise the price. - A political stop or ruining my TV. - A political stop or the content's just not that good. But I mean, for me, honestly, if it wasn't for like you and the kids watching Hulu, I would probably just, if I were younger, I would just go buy a TV from Walmart for 300 bucks. I'd already had all the Tubi and Roku build into it. - And YouTube and all that. - And just pay for cable or pay for the internet, that's it. - Yeah. - And that's it. - I'm curious to see what kind of dumbassery comes out of Sun Valley. Waiting to see if Bob Iger makes another really stupid comment or something to cause more trouble. 'Cause now they're like, you know, we have all the IOTs he's stuck going on. So it'll be interesting to see if they do something else. So they come out with AI, they're gonna use all this AI stuff and it's gonna piss off the customers. - Oh, absolutely. - They're starting stupid. - But they're gonna burn themselves to the ground 'cause they were stupid to begin with. - Yeah. So there you go, guys. This is what happens, you know, it's ironic at Sun Valley because these studios got too close to the sun and they ikris themselves and now they gotta pick up the pieces. So we're gonna wrap it up. - Yeah. - Please subscribe. We'll talk later. - Bye. (upbeat music) (upbeat music) - Thanks again for listening. More news and videos are available on our website at www.clownfishtv.com and on our YouTube channel, clownfishtv. You can buy official merchandise, clownfish comic books and more at shopclownfish.com. If you like this show, please consider subscribing and leaving us a positive review on iTunes and other podcast platforms. If you're looking to help support this show financially, go to clownfishsupport.com. If you'd like to sponsor an episode of this show, send us an email at business@webrief.io. This podcast is a production of clownfish studios LLC and web reef media proudly made in Pittsburgh, USA. (upbeat music) (upbeat music) You