Media company stocks took a beating last week with a one-two punch from cord-cutting and a soft ad market. The first quarter of 2017 saw pay cable subscriptions fall by over 700,000 in the United States, the largest ever such loss. This has caused some concern that cord-cutting has accelerated just as major advertisers have started to spend less on marketing.
However, television networks may just be shifting where revenue comes from. Rather than huge carriage fees and ad rates tied to huge viewership, networks may now be earning money off licensing content to streaming video providers and selling ads on digital platforms. There’s just one problem; such digital platforms pay far less than networks used to getting.
Warner Music Group is also suffering from shrinking revenues thanks to consumer migration to streaming online services. The company signed a new licensing agreement with YouTube, but they aren’t happy with a deal they felt forced into accepting. We’ll explain why.
Of course, we also cover the week’s top entertainment news including the multiple “Game of Thrones” spin-offs planned by HBO, Harry Potter heads to Broadway and the return of “American Idol”.

Movies at the Palace
https://www.unitedpalace.org/programs/movies-at-the-palace
comScore Announces Official Worldwide Box Office Results for Weekend of May 7, 2017
http://www.prnewswire.com/news-releases/comscore-announces-official-worldwide-box-office-results-for-weekend-of-may-7-2017-300452807.html
Warner and YouTube Sign New Deal ‘Under Very Difficult Circumstances’
https://www.musicbusinessworldwide.com/warner-youtube-sign-new-deal-difficult-circumstances/
Warner Music Extends Deal With YouTube After ‘Months of Tough Negotiations’
https://variety.com/2017/biz/news/warner-music-extends-youtube-1202410931/
Dinner with DiMaggio by by Rock Positano, John Positano, Francis Ford Coppola
http://bookfilter.com/2016/06/30/dinner-with-dimaggio/
Bill Clinton Teams With James Patterson to Write First Novel
http://www.hollywoodreporter.com/bookmark/bill-clinton-teams-james-patterson-write-first-novel-1001013
‘American Idol’ May Return on ABC — But Fox Still in the Mix
http://www.hollywoodreporter.com/live-feed/american-idol-may-return-abc-but-fox-still-mix-1000285
‘American Idol’ Revival Poised to Move Forward at ABC
http://www.hollywoodreporter.com/live-feed/american-idol-revival-poised-move-forward-at-abc-1000790
Gustavo Dudamel on Repression and Violence in Venezuela: ‘Enough is Enough’
http://www.latimes.com/entertainment/arts/la-et-cm-gustavo-dudamel-venezuela-statement-20170504-story.html
Gustavo Dudamel Has Tried to Stay Out of Politics. Now, He’s Demanding Action in Venezuela