A stock exchange between Red Bird and CJ Entertainment valued Skydance at approximately $ 2.3 billion. According to the company, at the current pace of growth, this year’s revenue is expected to increase by more than 40% compared to last year, and Skydance could be worth more than $ 5 billion in a few years. Ellison is most likely to seek a sale or initial public offering at that time.
Skydance could soon become a target for acquisitions.rear Amazon’s $ 8.45 billion purchase of MGMContent engines with access to established intellectual property, including Skydance, are gaining attention. Even if Skydance breaks up with Paramount next year, the expiring contract gives Skydance an incredible perk: the ongoing right to invest in the Paramount franchise, which Skydance is already involved in. “Star Trek.” “Mission Impossible.” “Jack Ryan.” “GI Joe.” “Top Gun.”
Comcast, which needs to enhance its Peacock streaming service, has the potential to become a buyer. So will Apple, which has considered acquiring MGM.This spring, Skydance received a feeler from a special acquisition company, or SPAC, Led by former Disney streaming chief Kevin A. Mayer.
“It’s true that there have been some interesting conversations lately, but the growth curve is still important, and if you continue to work hard and stay adaptable, you’ll have more options in the future,” Ellison said. Said. The MBA is more graduated than the up-and-coming entertainment tycoon.
Skydance has a wide range of expansion plans. Amy Hennig, a former senior creative executive at Electronic Arts, is building a video game division. Another department is focusing on virtual reality content. Ellison recently hired Disney’s 20-year veteran Luis Fernandez to launch a consumer products business. But Skydance’s future depends on scripted content and the ability to create paid-out movie and television franchises from the entire cloth, as it did in The Old Guard.
Some people in Hollywood remain skeptical that Skydance has the creative expertise to pull it off. Ellison and his team are good at putting together a project (29 movies and TV series sold to streaming services in two years). However, the execution (quality) was inconsistent. And quality is important: Skydance’s “6 undergroundThe action comedy directed by Michael Bay collected views from the blockbuster 83 million Netflix accounts in late 2019.But this movie Less than stellar reviews, Reduce Netflix’s interest in the sequel.
The well-reviewed stream of original hits will eventually make Hollywood take Ellison seriously as creativity.
How David Ellison Incorporated Skydance into Hollywood Smart Bets
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