Good morning: In today’s edition of The Industry, we look at:
Sony’s Breadwinner, Netflix’s Walking Dead, and a Diamond.
Let’s go!
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THE INDUSTRY TLDR
Sony Pictures Entertainment’s Q1 revenue is $1.9bn (↓ 3%).
Cinemark reports record Q2 revenue of $1.09bn (↑ 15.5%).
AMC Networks’ revenue falls to $547.5M (↓ 8.8%).
Netflix signs a 5-year, $500M licensing deal for AMC’s The Walking Dead universe.
Disney sells its 50% stake in A+E Global Media to Hearst for around $1bn.
Netflix develops an Ernest Shackleton survival film directed by Phil Barantini.
HBO is developing comedy series Alan Opts Out from Bill Lawrence.
Josh Boone will direct Sony’s romance adaptation Fake Skating.
Lee Cronin is in talks to direct Warner Bros.’ A Nightmare on Elm Street film.
Matthew Macfadyen and Claire Foy will lead BBC and Starz’s You Are Here.
John Legend will play Harry Belafonte in music drama The Road Home.
John Leguizamo joins the Daniels’ untitled next film.
Emma D’Arcy joins A24 and Focus Features’ ballet drama Stages.
Sony Pictures Classics acquires Andy Garcia’s crime drama, Diamond.
Ben Samek will lead Banijay’s U.S. operations following its All3Media merger.
Yesterday’s correct answer: Alex Garland has directed the most films for A24.
38% got it correct.
THE INDUSTRY NEWS
Sony Pictures Entertainment Q1 2026 results. Plus the delta from last year:
$1.9bn revenue
↓ 3%
$645M Motion Picture Unit revenue
↓ 13%
$154.3M operating income
↑ 33%
It’s no secret that Sony had very few movies in theaters this past quarter, with only The Breadwinner, which made a meager $20M domestically.
But they’re about to have a mega-smash, with some anticipating a $300M+ opening of Spider-Man: Brand New Day, releasing today.
Cinemark reported a record-breaking Q2, surpassing $1bn in revenue for the first time.
Breakdown and change from last year:
$1.09bn revenue
↑ 15.5%
$139.4M net income
↑ 49.1%
$294M EBITDA
↑ 26.6%
The company credited a compelling slate of films that brought in higher attendance and concession spending for a strong start to the summer. With three billion-dollar titles (The Super Mario Galaxy Movie, Toy Story 5, Michael). And two horror breakouts (Obsession, Backrooms).
AMC Global Media, on the other hand, is seeing a mixed second quarter. Not to be confused with AMC Entertainment, Cinemark’s theater chain competitor.
Here’s the breakdown and the change from last year:
$547.5M revenue
↓ 8.8%
$180M streaming revenue
↑ 6%
The company announced a major five-year, $500M licensing renewal with Netflix for The Walking Dead universe. AMC expects to count $225M in revenue from the agreement in both 2026 and 2027. This covers the original TWD series plus all six spinoffs.
Netflix and AMC+ will become co-exclusive streaming homes for the franchise beginning in 2027.
Full breakdown here.
Three big adaptations:
Netflix is developing an epic survival story of Irish explorer Ernest Shackleton and his crew aboard the Endurance, directed by Phil Barantini (Dir: Adolescence). The feature film will follow Shackleton as his ship gets trapped in the ice of the Antarctic, forcing them to spend months in the ice floes. Mark L. Smith (Wri: The Revenant) will write the script for the film. That’s what I call turning it up to 11! Adolescence was a test of psychological endurance, filmed in one-ers. The Revenant was all about physical endurance with a great one-er. Shackleton’s story of how his crew survived the freezing Antarctic cold is one of the most harrowing adventures in modern history. The combined story and storytelling talent is going to make this something special.
Bill Lawrence and HBO make a good team. The network has picked up for development Alan Opts Out, a half-hour comedy from Suburgatory creator Emily Kapnek and Lawrence’s Doozer through his overall deal with Warner Bros. Based on the comedic novel of the same name, the premise sees an idealist ad man, Alan Anderson, who, after losing a major account, retreats to his suburban Connecticut backyard to “live off the land.” Lawrence’s recent renewed HBO comedy Rooster also centered on a man reinventing himself, though in the opposite direction: Steve Carell’s character begins a new career as a college professor, while Alan decides to opt out of working altogether.
The Fault in Our Stars helmer Josh Boone has found his next best-selling adaptation. Fake Skating, based on Lynn Painter’s romance novel, follows a hometown high school hockey romance that begins as fake but quickly becomes unexpectedly very real. From Sony Pictures and Will Gluck’s Olive Bridge Entertainment (Anyone But You), a cast is not attached, yet the film already has a premiere date of July 2027.
Tidbits:
Disney is exiting A+E Global Media, selling its 50% stake in the cable company to longtime partner Hearst in a deal reported at around $1bn. The massive move gives Hearst complete ownership behind not just A&E but networks like The History Channel and Lifetime. The decision continues Disney’s approach to streamline its traditional TV portfolio and focus on streaming.
Warner Bros. is developing a Nightmare on Elm Street film. Lee Cronin (The Mummy) is in talks to write/direct. The rights here are a bit complicated. WB can distribute internationally and Paramount’s competing Nightmare on Elm Street film can only be distributed domestically.
Fans will no longer be Clueless. After being dropped by Peacock, Paramount+ has picked up the Clueless sequel as a limited series with Alicia Silverstone on board to return. While there has been a lot of back and forth, filming is now set to begin in early 2027.
After serving more than a decade on Netflix’s board of directors, Anne Sweeney is stepping down. She was the former president of Disney/ABC Television Group.
Former Warner Bros. TV and Fox exec Mike Darnell (Network Exec: MasterChef) signs an overall deal with Netflix. Darnell will develop and produce unscripted series for the streamer.
Cancellation:
Disney+’s Wonder Man (canceled after S1). Sad, given Disney said it would get a S2, and the show pulled in their biggest Emmy nom: Best Actor in a Comedy Series for Yahya Abdul-Mateen II.
Trailers:
Black Bear’s Wicker
Cast: Olivia Colman, Alexander Skarsgård, Peter Dinklage
Premiere: Sundance
Bleecker Street’s Victorian Psycho
Cast: Maika Monroe, Jason Isaacs
Dir: Zachary Wigon
Premiere: Cannes
Boorman and the Devil (documentary)
Premiere: Venice 2025
Doc about the director of The Exorcist 2 with the crash-and-burn reception
Release: Sept. 4
Nitesh Tiwari’s Ramayana (part one)
Budget: $500M for Pt 1 & 2
Release: Nov. 6
Release Dates:
Netflix’s Avedon doc (just acquired!)
Dir: Ron Howard
Premiered at Cannes
Prod co’s: Imagine and Fifth Season
Netflix release: Fall 2026
THE ACTOR SPOTLIGHT
Call it a British dream team. Matthew Macfadyen (Succession) and Claire Foy (The Crown) are set to lead You Are Here, the BBC and Starz adaptation of David Nicholls’ bestselling novel.
The One Day author’s 2024 love story follows two lonely strangers who stumble into an unexpected relationship while on the Coast to Coast walking trail across England.
Whether he’s overlooked in a NYC boardroom in Succession or his perfect portrayal of the shy Mr. Darcy in Pride and Prejudice (2005), Macfadyen is an expert at playing emotionally conflicted men who quietly drown in their own insecurities. Foy brought the same extremely restrained vulnerability to Queen Elizabeth II, winning two Emmy awards for her career-defining portrayal on Netflix’s The Crown (2017).
Both actors are incredible at conveying what’s left unsaid, a hallmark of Nicholls’ deeply human, lingering romances.
EGOT-winning John Legend joins South African music film The Road Home as the legendary calypso singer and civil rights activist Harry Belafonte.
The film follows a renowned South African trumpet player who is split between the anti-apartheid movement and his musical partner. For those of you who might not know Harry Belafonte, he was the singer who sang Day-O (the Banana Boat Song) in Beetlejuice (1988).
Musical talent and a fierce sense of righteousness are required for a Belafonte portrayal. And that’s John Legend. He showed us that he can sing and act in La La Land – we’re confident he can depict Belafonte’s courage and suaveness.
Tidbits:
John Leguizamo reunites with The Odyssey co-star Matt Damon in Universal’s upcoming film from the Daniels (Dir: EEAAO). Leguizamo was the intergenerational bridge that grounded Damon and Holland in The Odyssey, yoking them together temporarily. We’re looking forward to seeing Damon/Leguizamo’s synergy once more, in another film that will no doubt play with time for Daniels.
From Dragonstone to the ballet studio, House of the Dragon’s Emma D’Arcy has joined Stages from A24 and Focus Features. The film follows a young dancer at an elite ballet school whose shot at the role in her prestigious recital is shattered by a family tragedy. D’Arcy is no stranger to portraying characters grappling with devastating family loss, as Queen Rhaenyra’s arc in the HBO drama is completely driven by it.
Mini Tidbits:
Meghann Fahy (The White Lotus S2) joins HBO’s series The Trial of Louise Woodward. Based on a true story, the series follows how an 18-year-old British woman was accused of shaking a baby to death in 1997. Fahy stars as the suspect Louise Woodward.
FESTIVALS AND DOCS
Sales rep pick-ups from two fests:
Venice:
Balcanica
Int. Sales Rep: M-Appeal (Evil Does Not Exist)
Dir: Nicola Sorcinelli (short film Moby Dick)
Cast: Matilda De Angelis (Dracula: A Love Tale)
Premiere: Venice Days
Synopsis:
Greta, a young doctor on her first humanitarian mission along the Balkan route, meets two Afghan musicians fleeing to Italy, forcing her into a life-changing choice.
Locarno:
In All My Journeys I Am Returning
Int. Sales Rep: Lights On (Family Portrait)
Dir: Manuel Ponce de León (debut)
Premiere: Locarno Film Festival
Synopsis:
A young Swedish couple travels up Colombia’s Magdalena River seeking a legendary gold mine. As they journey through a war-torn landscape, time begins to fracture, memory blurs with reality, and their voyage becomes a meditation on exile.
INDIE FILMMAKER SPOTLIGHT / INTERNATIONAL NEWS
Sony Pictures Classics acquires crime drama, Diamond. Andy Garcia (Ocean’s Eleven) is the writer, director, producer, and star. The film played Out of Competition at Cannes and has an insane cast:
Brendan Fraser
Dustin Hoffman
Bill Murray
Vicky Krieps
Synopsis:
Joe Diamond, a man haunted by his past, uses his exceptional wit and keen observation skills to uncover hidden truths and solve crimes in this contemporary noir tale.
Both Hoffman and Murray starred in Garcia’s sophomore directorial effort, The Lost City, which is, above all else, a Godfather Part II homage, gloriously drenched in a Cuban soundscape and visual splendor.
No word on a release date.
Tribeca Films acquires Loves Company, starring Rachel Dratch (SNL). Directed by first-time filmmaker Jason Laurits, the film follows a lonely woman who is revitalized when her favorite celebrity crush crash-lands in the Florida swamps outside of her house.
Banijay Americas CEO Ben Samek will lead Banijay’s U.S. operations following the company’s blockbuster merger with RedBird IMI-owned All3Media. The deal created an $8bn global TV production powerhouse. While All3Media allowed its U.S. production labels to operate independently, Samek will now oversee efforts to build a more centralized American infrastructure. The move reflects Banijay’s ambitions to grow in the U.S.
Italy’s Lux Vide (Prod Co: Prime Video’s Hotel Costiera) is making a TV series based on the life and career of the legendary Italian fashion designer Giorgio Armani.
ON THIS DAY
1962. Wesley Snipes born in Orlando, Florida.
Written by Gabriel Miller, Madelyn Menapace and Tony Jaeyeong Jeong.
Editor: Gabriel Miller.
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Alan Opts Out sounds a little like an updated version of a 70s British sit-com called The Good LIfe.