Now all award shows have nosedived from highs since the 1990s. If you need any more proof, consider the dismal ratings of the Emmy Award show the other night, which drew a record low of 5.9m viewers, down 24% y/y. Fortress entertainment companies like Walt Disney ( DIS) may not be naked yet, nor does everyone automatically assume they will produce exponential earnings increases quarter after quarter into infinity anymore. Thus you have IMHO the state of affairs in much of today’s entertainment media sector and the key reason why it is that its business model is broken. And yes, his people never felt so taken by blind faith-the wisdom of crowds turned on its head. For the first time, the masses took a long, hard look at their king. The crowd, shaken by his accusations, turned their heads to the rostrum. “I tell you, the emperor is naked and looks like an idiot." “Look, the emperor has no clothes, He’s naked and looks like a fool….” he shouted.Īt first, there was roaring anger demanding that his lack of respect be punished by the police. He kept laughing anyway and pointed at the King. He was angrily shushed for his irreverence. Then one day, a little boy watching the oration from the crowd began laughing. His public appearances drew massive adoring crowds. There was once a realm long ago populated by people who loved and admired their king. For those readers unfamiliar with the story, here’s a quickie synopsis of this famous little telltale advice: There is no more apt analogy to define today’s mass entertainment business as a chronic, possibly incurable case of The Emperor's New Clothes, a fairy tale long dispensed to children bearing a warning moral for life. Mass entertainment: A dying business model
We will cover selected live and electronic entertainment companies. Note: This is the first of our expanded coverage of core entertainment stocks focused on their prospects in a post-pandemic world. But as we suggest, in this collapsing economy presided over by broad-based incompetence, new business models for many sectors are emerging. On the theory of a dead cat bounce for the market somewhere ahead, we’re keeping the entry price at writing. The dip: This week’s market swoon inched Warner Bros. Non-holders with low risk profiles: Stay clear for at least the next quarter. Non-holders with patience : Begin to accumulate at $13.03 CEO David Zaslav has just begun to fight. “Too much of anything is bad, but too much good whiskey is barely enough…” Mark Twain Above: Too many screens for limited realistic number of eyeballs confronts WBD.
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