Hollywood Outlook For 2023: Extremely Bumpy

With the economy once again on the brink of a recession and cutbacks hitting hard all over town, the entertainment industry is bracing for more challenges in the year ahead. Among the many question marks for 2023: Will the movie business revive to pre-pandemic levels? When will the high drama at Disney and Warner Bros. Discovery settle down? And how viable is streaming as a business model for legacy media companies anyway?

Legacy Media: Higher Spend, Lower Profit Margins

Traditional media companies will need to spend much more on programming in the coming years to compete with growing streaming competitors such as Netflix, Amazon, and Hulu. All affect profit margins, according to analyst Brian Wieser, GroupM global president of business intelligence.

COMMENTARY BY KATHY HALEY

Six Maxims For Challenged Local Media

The litany of challenging news about legacy media companies began about three weeks ago, observes NetNewsCheck Publisher Kathy Haley, and rippled through newspapers, television and radio. Many of the moves were aimed at mollifying Wall Street, she notes, reminding legacy media companies that success is theirs to lose, no matter how complicated the playing field appears.