Black widow has declared war against Disney, and it looks bad.
Last week, a feud fuelled up as Scarlett Johansson went ahead to sue Disney.
The actress claimed a breach in her contract after the release of the latest Black Widow movie in theatres & on Disney+ premier access simultaneously. How?
Well, the thing is that talent is often paid based on the box office revenues.
So movie stars have a backend deal where they are likely to receive two paychecks - the first being the amount paid for the movie upfront and the second if the movie grosses over a certain amount.
In ScarJo’s case, an exclusive theatrical release was guaranteed in her contract. But the digital release of the movie caused a dent in her pay.
How? Let’s do the math. Black Widow’s opening weekend saw the following figures:
~$80m in US theaters
~$78m overseas
~$60m+ from digital sales
Of this, the actress will receive her share from the box office revenues. However, she is not entitled to the $60m revenue that her movie made from digital sales. Further, a simultaneous release of the movie on Disney+ has hampered box office revenues.
Think about it - if you have easy access to the movie at home, why would you want to go to the theatres, especially during the pandemic, right? Hence, this loss in box office revenues, which further translated to a loss in her pay, is why she decided to sue.
But what’s more is that ScarJo’s move could be the first of many more to come in the industry. See, filmmaking is a collaborative effort. Many talented individuals work together to make the best movie they possibly can.
And in most cases, their income is directly tied to how well the film does at the box office. But the economics of this new arrangement of a dual release does not work in their favour.
And this is why more people from the industry are now looking to renegotiate their contracts.
Let us know your thoughts.
***************
Also, we at @joinditto are helping people select the most suitable health and term policies for themselves and their families. So make sure you #AskDitto for all your insurance queries.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
While we’ve all heard of the famous phrase “Time is money”, IKEA went a step further and took it literally. (1/8)
That’s right, last year IKEA Dubai began accepting time as a form of #money, which was dubbed as their campaign “Buy with your time”. And by this, they mean not just any time, but the time it takes you to drive to an IKEA store. (2/8)
But why did they do it? The thing is, due to their requirement of a spacious mega store, most IKEA outlets are located in the outskirts of a city. Due to this, customers have to spend long hours commuting. (3/8)
Never make these mistakes in #investing. (Cognitive biases 101)
A thread.
1.) The endowment effect
We've all got that one stock that’s been a real winner for us. And it’s natural for us to feel emotionally attached to it.
But the problem arises when the holding period is up and it’s time to sell- no price seems good enough.
And this is what the endowment effect is all about. Just because you own the stock, you’re emotionally biased towards it, and this makes you value the stock higher than its actual worth.
What’s this craze about “Buy now, pay later” companies? 🧵
Recently, US payments giant #Square agreed to pay an eye-popping $29 billion to acquire an Australian BNPL fintech called #Afterpay.
Well, technically they aren’t actually paying $29 billion out of their pockets. It's an all-stock deal & Square will be paying off Afterpay shareholders with its own stock with no cash involved.
In fact, in a 2001 study by MIT professors, it was seen that the area of the brain associated with pain, i.e. the insula, lights up like a Christmas tree when you watch someone pay with cash as opposed to a credit card.
But why?
Well, there’s a phenomenon called “The Pain of Paying”. When you buy things with cash, you have less of it in the wallet.