Christmas Coal for 6 Producers
Christmas Coal for 6 ProducersA24, LeBron and the Hollywood players who didn't justify their paydays or valuations in 2024
ESG’s data-driven analysis for paid subscribers appears every other Thursday. He recently wrote a caution defense of David Zaslav, how animation is making serious bank, almost no matter what, and 7 genres that could replace superheroesWhen I think about the themes that define 2024 for me, one that stands out is overrated companies and creators. Yes, I am again playing the role of Hollywood’s anti-hype man, debunking the latest trends and industry consensus, but this is why I like writing for The Ankler, which has never been afraid to tell Hollywood what it needs to hear, even if it goes against the Tinseltown grain. Hollywood has always had overhyped players, but this year, there have been several producers, distributors and creators whose valuations or paychecks have become glaringly misaligned with their performance. If you’re a production company or independent studio with one of the loftiest valuations of all time that any company in your category has ever received, someone has to stop and ask, “How have they really done in 2024?” So I made a list. This isn’t some idle exercise for me; this kind of assessment is essential to good strategy. Investors are doing this every day in the market, buying into undervalued companies based on research that indicates their stocks will go up and shorting stocks they think should go down. When a major asset manager like Vanguard invests in private companies, it routinely analyzes their value, marking it up or down. For every company or person I detail below, someone spent a ton of money buying into the hype, instead of looking at their track record. And it’s time for a downgrade. As the streaming content bubble continues to shrink, I worry those producers and creatives who haven’t pulled their weight will feel the heat even more. To quote Warren Buffett’s famous line, “Only when the tide goes out do you discover who’s been swimming naked.” In this issue, you’ll learn:
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