The State of Disney with Ads: Steady Growth Ahead

As we approach the end of Disney+’s second full year with its ad-supported offering, how is this budget-friendly tier performing for them? Especially as they go ahead with fully integrating Hulu into their product offerings. Entertainment lawyer Brandon Blake of Blake & Wang P.A. looks at what we know.

Brandon Blake

1 Billion Viewing Hours for Hulu

First, let’s look at the Hulu question. The service was launched as a Disney+ tile last year, with more integrated bundling planned across the entire Disney ecosystem. It has already notched up 1B hours of viewing since that debut.

Nor is it the only Disney success story of late. They’ve also passed 157M active monthly users globally for their ad-supported streaming offerings, across Disney+, ESPN+, and Hulu. Two-thirds of these are US based, making for 112M domestic subscribers. Do note that this excludes their India-only Hotstar service. 

For comparison, the core Disney+ service carries 174M subscribers in North America, even when Hulu is added to the mix. It seems Disney’s status as one of the dominant players in the streaming landscape is more secure than ever.

The State of Ad-Supported Streaming

It’s hard not to compare those numbers with what we know for Netflix- 70M monthly active users as of November, although we can expect that to have climbed over the festive season with several subscriber-attracting events and launches, including the second season of Squid Game. 

Disney has made the switch to bundled services in a big way, offering most of its services through each other’s platforms, with the list of offerings growing. For 2025, we’ve been told, the focus will be on moving ESPN to its own streaming service, combining e-commerce, fantasy football, and betting in one. This revamped and expanded service is expected to launch in Fall 2025.

With their Fubu lawsuit now settled, everything is looking good for another bumper year for Disney. It will be interesting to see how everything pans out as we move full-speed-ahead into 2025.

Comscore Pushes Back Against Hidden Box Office Grosses

In prior years, we’ve seen certain box office films choose to ask Comscore to collect box office grosses but not release them. It’s a tactic we most see on pictures looking to score a quick award-qualification run, but it’s also been used in cases where they simply don’t want to share publicly. Now, Comscore is pushing back. Our entertainment lawyer from Blake & Wang P.A., Brandon Blake, unpacks all the news for us.

Brandon Blake

A January Shift

As of January 2025, if distributors choose to block the reporting of grosses, they won’t have access to the totals either. It’s suspected that the recent blocking of two rather significant releases (Juror #2 and Nightbitch) may be behind the change. We also see Netflix regularly use it as a tactic. 

However, the difference is that both films were mainstream releases that shifted their release designations at the last minute, swapping to “Academy Run” from “Limited.”  This change was not only inappropriate to how they ran— it’s typically used for a 1-week run, where both had multi-week theater time— but also caused bad blood among other studios. 

Why Care About Comscore?

Comscore has considerable value to the industry, but also to distributors, saving them labor-intensive work to capture a specific weekend’s takings. So it’s easy to see why they’d consider the swap. Yes, the change will help to soothe those angry outcries against this strategy. But it will also help Comscore keep their data quality high, as hidden results do nothing for them or the industry. There’s also an industry-wide push to fight back against normalizing hiding data like this. Why are they doing the data heavy lifting to only one distributor's benefit, after all?

For now, it’s uncertain if the policy will impact legitimate single-week awards openings. We also don’t know if they will track the data in-house in these cases. However, this will help to keep Comscore’s position as one of the most trusted independent sources of this data, and it’s easy to see why they’ve opted for this shift.

Is National Cinema Day Back in 2025? Almost!

National Cinema Day, hoping to help bring crowds back to the box office with discounted tickets, concessions, and other goodies, ran in 2022 and 2023, skipping its 2024 edition. While it seems the now-familiar format won’t be back (officially) in 2025, either, there’s an exciting new replacement on offer— @ The Movies. We turned to Blake & Wang P.A. entertainment attorney, Brandon Blake, for all the details on this new development. 

Brandon Blake

Quarterly Celebration

Riding high on a 2023 box office that vastly exceeded expectations, it turned out that 2024 may not be the “disaster” for box office numbers we were expecting earlier in the year, either. In fact, it’s been a rather successful year for cinemas, even if we are still somewhat chasing that elusive full recovery. 

National Cinema Day was invented as a 2022 promotion to boost audience attendance. It offered reduced ticket prices and other drawcards to encourage a hesitant post-COVID world to reembrace the silver screen. While it fell away in 2024, a new version will be introduced in 2025, one that reflects that same growing optimism about the future of theatrical exhibitions.

A New Format

Instead of a single day of deeply discounted tickets, the Cinema Foundation, who created the idea for National Cinema Day in the first place, has instead launched the idea of @ The Movies. This quarterly event will have a different theme each time: 

• National Popcorn Day on January 19, 
• Sneak Peek Saturday on April 19
• Date Night on August 15, and
• Family Day on November 9.

While the initiative is very new, and there have been few details about the latter two, each will focus on a given theme and offer discounts and cheaper concessions for audiences to enjoy. What’s still unclear is whether we’ll see the return of those compelling cut-rate admission fees. 

It’s great to see the older National Cinema Day format updated, not in the least as it indicates a sense of optimism and recovery for the theatrical sector. Let’s hope they will be as successful as their predecessor.

Regal Secures Significant Loan to Bolster Refinancing and Upgrades

Things are looking up significantly for the US’s second-largest movie theater chain. With the rocky road of post-COVID recovery still a reality for most theatrical chains, a full industry recovery has been elusive. Last week, news broke that they have secured a further loan to set towards refinancing as well as needed theater renovations. Our local industry expert, entertainment attorney at Blake & Wang P.A., Brandon Blake, unpacks what this means for the theater chain.

Brandon Blake

$1.9B Loan for Refinancing

The hefty loan was secured mostly on the backs of the $1B-strong theatrical takings and a 49M strong audience from Regal locations over the last quarter.  This loan will form part of their ongoing refinancing efforts, due in December 2031. Additionally, they will have access to a $350M revolving credit option. The loan was overseen by global financial giants such as JP Morgan, Wells Fargo, Deutsche Bank, Barclays, and Texas Capital.

In July this year, the chain secured a further $250M in funding, primarily targeted at luxury upgrades for 425 of its locations. Things are looking a whole lot better for them than they did last year, when they entered Chapter 11 bankruptcy in September 2024. They have now fully emerged from the necessary restructuring process.

Positive Market Reaction

The deal, which is earmarked to reduce their annual interest bill by $60M, has been generally well received by the markets. It couldn’t have better timing, either, as the domestic box office has had a bumper quarter and one of the best Thanksgiving weekends (no, actually, the best) on record, significantly closing the lag with last year’s box office. Cinemark itself announced the second-best November box office for the chain on record.

It’s always good to see the theatrical industry thrive. Regal managing to reposition itself from the brink of bankruptcy in just over a year is positive indeed. Let’s hope this latest refinancing round will power them to new successes in the future, too.

Lab Grown Diamonds: A Modern Revolution in the Jewelry Sector

As the world continues to look for more durable and eco-friendly products or elements, lab grown diamonds are certainly making people reconsider how wealth and luxury are viewed in the jewelry industry. But these synthetic gems are as beautiful, durable and visually appealing as their precious counterparts, and they can offer the difference, without threatening the environment, that makes it the gem drawer of the eco conscious consumer. In this article we’ll explain what lab grown diamonds are and why they are the future of the diamond market.

What are Lab Grown Diamonds?

Cultured diamonds or lab diamonds are synthetically manufactured diamonds which are produced within laboratory settings using advanced technological processes. These diamonds will be from a chemical, physical and optical point of view indistinguishable to mined diamonds, to the extent of distinguishability possible from diamonds. There are two major ways to produce lab grown diamonds: High Pressure High Temperature (HPHT) and Chemical vapor deposition (CVD) methods.

Both mimic the way diamonds are formed in nature and the diamond that is formed through either of these processes is indistinguishable from mined diamonds without special equipment.

Benefit of Lab Grown Diamonds

1. Eco-Friendly Option

Natural diamonds mined from earth cause huge environmental concerns which often lead to habitat destruction and carbon emission. To the contrary, synthetic diamonds use a lot less resources and make a significantly smaller ecological footprint.

2. Ethical Sourcing

Diamond mining has been associated with its own set of unethical practices and forced labor is nothing new to the business. They solve these concerns entirely by offering a guilt free alternative.

3. Cost-Effectiveness

Lab grown diamonds cost anywhere between 30 to 40 percent cheaper than mined diamonds, say gemologists. The affordability enables consumers to buy bigger or of better quality grade diamonds for what they have to spend.

4. Customizable and High Quality

One reason lab-grown diamonds are of a higher quality is because they are grown in controlled environments, and have fewer inclusions since they don't soak up minerals. Additionally, they can be customized to fit requirements beyond color, clarity and cut.

What Distinguishes Natural Diamonds from Lab Grown Diamonds?

Even though lab grown diamonds are similar to mine diamonds on the surface, that's where their differences in production comes from. Because to the naked eye, the two stones are virtually identical, only advanced gemological tests can distinguish between them based on trace elements and growth patterns.

Applications of Lab Grown Diamonds

Lab grown diamonds aren’t meant to be reserved for jewelry alone.

• Electronics: They are used in semiconductors because of their thermal conductivity, insulating properties.
• Cutting Tools: They have hardness matching industrial cutting & grinding.
• Medical Equipment: In advanced imaging and diagnostic tools, they are used.

Why are Lab Grown Diamonds Gaining Popularity

Recent trends are that of shifting demand and preference for lab grown diamonds. They see themselves as healthy and wish to be oriented within the context of how proper sustenance and ethically sourced elements can be incorporated into their day-to-day activities. These diamonds combine high quality and beauty with their values.

Lab created diamonds have also become more accessible and affordable due to advancements in technology, thereby attracting a cross section of the demographic.

The Future of Lab Grown Diamonds

The development of lab grown diamonds is shown to be increasingly efficient and sustainable, with modern technology. They are sure to dominate the jewelry market with growing consumer awareness about environmental and ethical concerns.

But this shift is being embraced by major luxury brands and jewelers with lab grown diamond products of a diverse type. Regardless if you want an engagement ring, or want a custom piece, they've got you covered.

Conclusion

Innovation can reshape traditional industries and lab grown diamonds prove the statement. As a result, they are beautiful, sustainable and affordable, making them an ideal modern consumer choice. Are you on the lookout for a beautiful engagement ring, or an ethical way of spoiling yourself with luxury, lab grown diamonds are the answer.

Louisiana Backs Down on Removing Tax Credit Entirely

There’s positive news from Louisiana. Well, somewhat positive, anyway. Instead of entirely removing their tax incentives for productions made in the state, lawmakers have instead opted to maintain the program, albeit with a strong reduction in what’s on offer. Here’s all the pertinent details from our resident entertainment lawyer from Blake & Wang P.A., Brandon Blake.

Brandon Blake

Reduction, Not Removal

Under the revised decision, Louisiana will reduce the annual cap on tax credits from $150M to $125M rather than abolishing it entirely. This will preserve an iconic piece of film history: the tax credit that made Louisiana a significant hub for film and television production.

The move comes after intense debate in the state legislature, where the House initially voted to eliminate the program completely. However, the Senate's near-unanimous vote for reduction rather than elimination led to a compromise that will, hopefully, maintain Louisiana's position in the ever-more competitive film production landscape.

Positive Industry Reaction

For the most part, industry leaders view the outcome as a positive despite the reduced credits available. Film Louisiana president Jason Waggenspack particularly highlighted the program's significant economic impact, citing a 2023 study showing that every dollar spent in tax credits generates roughly $6.32 in local economic activity. The Louisiana film industry also supports approximately 10,000 jobs in the state, with nearly 90,000 Louisiana residents registered as potential background actors.

However, while something is certainly better than nothing, Louisiana's incentive program now sits well below many of its competing states. California, for example, has $330M in credits available, while Georgia offers unlimited tax incentives that have, to date, totaled roughly $1B per annum. 

The program will continue to offer productions up to a 40% rebate on qualified in-state spending, including a 25% base credit. Whether this will be enough to see the same uptake as in previous years remains to be seen.

Lionsgate and Director Francis Lawrence Sign First-Look Deal

Lionsgate and About: Blank Productions, the brainchild of Hunger Games director Francis Lawrence, has entered a new strategic partnership. Our industry insider and entertainment attorney, Blake & Wang P.A.’s Brandon Blake, has all the details to share.

Brandon Blake

A Timeous Deal

The Hunger Games franchise has already generated #3.7B in global box office revenue, and Francis Lawrence was attached as director for most of the franchise. The first-look deal with Lionsgate is, itself, quite timely, as Sunrise on the Reaping, the next Hunger Games installment, is set to enter production next year for a late 2026 release date. While The Ballad of Songbirds and Snakes didn’t quite meet its lofty box office expectations, the film did excellently globally.

The new collaboration builds upon Lawrence's extensive history with the studio, where he worked alongside screenwriter Michael Arndt and producer Nina Jacobson's Color Force production company. Together, they successfully adapted four of Suzanne Collins' Hunger Games novels, including Catching Fire and the two-part Mockingjay conclusion to the original series.

Other Projects at Work

However, the Hunger Games franchise will not be Lawrence’s only value to Lionsgate as it seeks to expand its content footprint. Production of The Long Walk, a Stephen King adaptation, recently wrapped and will also form part of the deal. 

This deal also represents a broader industry trend of studios securing long-term relationships with proven directors who can deliver both commercial success and creative consistency. For Lionsgate, maintaining this relationship helps to ensure stability for their most valuable IP while still potentially developing new franchises under Lawrence's creative guidance.

The partnership also positions Lionsgate to strengthen its competitive stance in an increasingly challenging theatrical market. Established franchises and proven filmmakers have become crucial assets for traditional studios competing against streaming platforms and changing audience behaviors.