Aug 19, 2026 · 19 min · 10 segments
In the latest episode of GHJ’s *Media Clips podcast,* Entertainment Practice Leader…
Randy HuaGuest
Stephen ProughGuest
Chris SpicerGuest
Ilan HaimoffHost
So on the challenges side, I think you have to look at the difficulties of underwriting an industry where we do have this long term secular trend of attention going to other media.
It's still 8% to 9% below the peak in 2019, and it's 25% below in terms of attendance.
And then a little bit to Randy's point, the components of revenue in the feature film business are changing pretty dramatically.
I mean, five years ago, and yes, it was the heels of COVID, VOD and SVOD were both critically important.
On the opportunity side, it does appear that the studios are finally paying attention to costs.
It does appear that they're trying to manage budgets and maybe a portion of that is through technology.
There was a period of time gone up until COVID where the studios would shut their doors on outside investors.
I mean, Capital has put together slate financings at both Paramount and Warner Brothers.
And then I have to mention on the catalog side, and we can talk about investors in that space a little bit later, but catalog is doing incredibly well.
We just did a study where we looked at all the data that we have on film and television, which is probably at least 50% of the deals that have been in the market over that period of time from 2022 until today.
Now I think the standard is 5% a year, but the reality is catalog is performing much better than people would expect.
So on the challenges side, I think you have to look at the difficulties of underwriting an industry where we do have this long term secular trend of attention going to other media.
It's still 8% to 9% below the peak in 2019, and it's 25% below in terms of attendance.
And then a little bit to Randy's point, the components of revenue in the feature film business are changing pretty dramatically.
I mean, five years ago, and yes, it was the heels of COVID, VOD and SVOD were both critically important.
On the opportunity side, it does appear that the studios are finally paying attention to costs.
It does appear that they're trying to manage budgets and maybe a portion of that is through technology.
There was a period of time gone up until COVID where the studios would shut their doors on outside investors.
I mean, Capital has put together slate financings at both Paramount and Warner Brothers.
And then I have to mention on the catalog side, and we can talk about investors in that space a little bit later, but catalog is doing incredibly well.
We just did a study where we looked at all the data that we have on film and television, which is probably at least 50% of the deals that have been in the market over that period of time from 2022 until today.
Now I think the standard is 5% a year, but the reality is catalog is performing much better than people would expect.
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