May 2, 2018

Entertainment execs tout "buckets" of money

MGM Television President Mark Burnett. Photo: Ethan Miller/Getty Images

"Entertainment industry heavyweights made an upbeat case for their business at the Milken Institute Global Conference in Beverly Hills, despite fast-growing competition from online video networks such as Netflix and Amazon.com," the L.A. Times' Ryan Faughnder reports.

What they're saying: MGM Television President Mark Burnett, whose company produces "Survivor," "The Voice" and "The Handmaid's Tale," told the conference: "Basically, if you're not a hit maker in what we do, you're in big trouble ... Once you have something that emotionally connects … money is falling from the sky, globally ... That money is falling into our buckets, if we have the most connective content in the world."

The big trend: "Streaming platforms are providing more outlets for hit shows ... 'The Handmaid's Tale' ... found a large audience on Hulu."

  • "Rival Netflix ... is spending billions of dollars a year on original movies and shows and has aggressively pursued global distribution rights for content."

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Illustration: Eniola Odetunde/Axios

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