From M&A activity to a writers strike to a box office bounceback, a forecast of what lies ahead in 2023 for media and tech
. So, while the pace of M&A has slowed in 2023, we could still see some deals across a few categories such as paid streaming and gaming. The most likely target this year is WWE, which is clearly for sale and has no shortage of possible buyers.
Other sub-scale entertainment companies that could get scooped up include Lionsgate and AMC Networks, though probably not before the end of the year. But don’t expect sizable Big Tech deals. Lawmakers have their sights set on Silicon Valley, as they look to reign in monopolistic maneuvers. beyond the blockbusters that once seemed to be the only titles to soar, including Disney’s “Avatar: Way of the Water.” “Creed III,” Scream VI” and “Cocaine Bear” have all performed above expectations, meaning domestic box office is performing significantly better than it did by March of last year.
The audience has gotten too accustomed to shrunken release windows putting movies on streaming quicker than ever, disincentivizing the kind of theater attendance of yesteryear. tied to pro leagues are being siphoned away by streaming services, media companies such as Disney and Warner Bros. Discovery are likely to pay through the nose to retain the NBA games they currently split.
That said, they probably can’t afford to keep everything they’ve already secured through 2024-25, which is why they’ve probably already waived their rights to negotiate exclusively so that the league does the inevitable: slice off a portion of games for a deep-pocketed tech partner, which could be Apple or Amazon and
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