☕ Good morning. Welcome to our second members-only executive briefing. Every month, we'll go deep on an important topic impacting the media industry.

• This month, one day ahead of the Oscars, we look at the systematic disruption of Hollywood, and how media companies old and new are redefining their offerings to survive.
• Today's newsletter, copy edited by Katie Lewis, is 2,890 words, an 11-minute read. Sign up for our weekly Media Trends newsletter.

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