BizFeed: Comcast Cashing In With Jurassic World
1. Comcast Feeling the Jurassic World Bump
The News: Jurassic World just had the biggest opening weekend in movie history at $208.8 million in the United States and $550 million globally— and Comcast is set to cash in big time. As the parent company of Universal Pictures, Comcast should reel in big profits on DVD sales, licensing, downloads, merchandise — and even feel a jolt at its theme parks.
Why It Matters: Big blockbusters aren’t usually able to send a big media conglomerate’s stock up or down, but this film just did. In fact, Comcast’s stock is up 2.2 percent since Monday morning and now sits at $58.88.
The Wrap offers some reasons and shows why Chief Executive Brian Roberts is looking very smart right about now:
In addition to increasing home entertainment revenues, the company will benefit from selling TV rights to the non-Comcast cable channel FX on Monday. Merchandise sales will provide another revenue source, particularly a deal with Hasbro that seems poised to reverse a decade of cooling sales for dinosaur-themed toys.
And the “Jurassic World” bonanza should heighten interest in dinosaur rides and exhibits at Universal’s theme parks in Hollywood, Orlando, Florida, and Osaka, Japan.
The success of “Jurassic World” also vindicates the strategy of Comcast chairman and chief executive Brian Roberts, who roughly two years ago ordered an overhaul at Universal, replacing then studio chief Adam Fogelson with Jeff Shell, the former head of Comcast’s foreign operations.
“That’s looking like a pretty smart move right now,” said Willenson, “and that going to build confidence as well.”
The Street points out that it’s the company’s fifth movie making more than $100 million since Christmas.
Jurassic World is the year’s third-best selling film so far, behind Walt’s Disney’s Avengers: Age of Ultron and Universal’s Furious 7, which generated $1.5 billion in worldwide ticket sales, including $350.7 million in domestic theaters since its April 3 opening.
2. Amazon Wants You to Be a Delivery Person
The News: Amazon has an unquenchable thirst for faster delivery, and now the company literally wants you to be its next courier.
The Wall Street Journal has the story:
The Seattle retailer is developing a mobile application that would, in some cases, pay ordinary people, rather than carriers such as United Parcel Service Inc., to drop off packages en route to other destinations, according to people familiar with the matter.
As envisioned, Amazon would enlist brick-and-mortar retailers in urban areas to store the packages, likely renting space from them or paying a per-package fee, the people said. Amazon’s timing for the service, known internally as “On My Way,” couldn’t be learned, and it is possible the company won’t move ahead.
Why It Matters: I hope that UPS, the U.S. Postal Service and FedEx are paying close attention. This is just the kind of seismic shift that could shake up the shipping industry and leave them in the dust. It’s certainly more feasible than Amazon’s ridiculous drone delivery system (or should I say publicity stunt?) that was announced on 60 Minutes awhile back.
3. Wolf to BIO Conference: Bring Your Companies to PA
The News: Gov. Tom Wolf attended the BIO International Convention at the Pennsylvania Convention Center on Tuesday, and told the crowd to consider setting up shop in Pennsylvania.
The Philadelphia Inquirer has the story:
Wolf told the crowd his next budget proposal has a plan to lower the corporate net income tax and close the so-called Delaware loophole that would make life fairer for state-registered businesses. He said he wants to entice new business with tax credits for creating manufacturing jobs.
“We love the jobs you bring here,” Wolf said. “We love the compensation this industry brings to Pennsylvania. We love the way you interact intellectually with our communities. We love the way you work with our universities. While it’s great to have you here as part of this convention, we all wish you would come back and stay.”
Why It Matters: Although the biotech industry in Pennsylvania — and specifically the Philadelphia region — is strong, it can always get stronger. If there’s even one business owner in that crowd who’s enticed to move here, Wolf’s efforts will have been a success.