Business Loans: Insider Today: Hollywood’s secret weapon

July 10, 2023

Welcome back! Pals, a word of advice: It's never a good idea to fake-propose.

But a better idea as far as partnerships go may be the one being forged between Hollywood studios and the influencers helping them market their films. Influencers are helping studios tap engaged followers, while Hollywood is giving content-eager creators lucrative partnerships.

In today's edition:

Tom Brady reportedly lost $30 million when FTX went under.
Stressed-out tech executives are turning to booze and painkillers.
TikTok is testing a new feature that hints at its music ambitions.

But first, I need to post this.

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THE BIG STORY

Influencers to the rescue

iStock; Rebecca Zisser/Insider

It's a weird time for Hollywood these days.

Between the ongoing writers' strike, layoffs hitting record highs, and powerhouse studios struggling at the box office, some of the glean has come off of Tinseltown.

But there's a silver lining, as studios have figured out a new way to get the word out about coming movies: influencers.

It's a match made in heaven, Insider's Jason Guerrasio reports.

Influencers, eager for access, content, and potentially a foot in the door of a competitive industry, are happy to partner with franchises they might have already been a fan of. (Getting paid tens, or sometimes hundreds, of thousands of dollars doesn't hurt either.)

Studios, meanwhile, get access to engaged audiences via the creators' channels that will, ideally, convert into big box-office sales.

The trend represents the diversification of fandom. Two decades ago a studio could rely on an A-list star to open a movie. Nowadays, they need to get creative. And influencers help studios reach specific, niche groups.

While creators are happy to play the part, there is some risk. An influencer's greatest asset is their authenticity. The second they lose that, their fans can be quick to turn on them.

Take Dani Carbonari, who recently came under scrutiny for posting a glowing review of a factory used by Shein during a trip to China sponsored by the fast-fashion company. Carbonari's fans pointed out she failed to acknowledge the company's labor-rights issues.

So when a movie sucks, or touches on a problematic topic, will an influencer be willing to speak their truth — or simply toe the studio line?

READ THE FULL STORY HERE

TOP READS

Apple Vision Pro, ESPN, & superintelligent AI

iStock; Robyn Phelps/Insider

TikTok is testing out song charts. The app has started showing some users "Hot 50" and "Viral" charts as a way to visualize which songs are trending. It's all part of its push deeper into the music business.
Apple Vision Pro tester woes. Some testers with smaller heads and bodies were said to have had issues keeping the headsets on for more than 30 minutes. Bonus: You'll reportedly need an appointment if you want to snag these headsets.
Instacart shoppers are staking out parking lots for work. Some shoppers say they spend hours waiting to claim orders. At least one chain seems to be unhappy about it: Costco.
What's next for ESPN? Some analysts think Disney should consider selling the Worldwide Leader in Sports following another round of layoffs that affected well-known pundits such as Jalen Rose and Todd McShay.
OpenAI is worried that superintelligent AI could lead to human extinction. To prevent this from happening, the company assembled a team meant to ensure the technology aligns with human interests.
About half of tech execs in a new survey reported drinking heavily or taking painkillers. Tech execs are stressed out, a new study found, with many apparently using substances to cope with layoffs, long hours, and other troublesome factors.
Everything you need to know about buying a used car. Used cars might never be cheap again. And sometimes, buying used doesn't even mean you're getting a better deal. That's why research and rental fleets are crucial to the used-car-buying process.

BEFORE THE OPENING BELL

Tom Brady, recession, & quiet quitting

Tom Brady got sacked by crypto. The seven-time Super Bowl champion reportedly lost $30 million following the bankruptcy of the crypto exchange FTX, for which he was a leading ambassador.
The much-predicted US recession may not happen at all. Some experts now say the risk of a recession may have blown over — and they're supported by encouraging economic data, including resilient job-market numbers and cooling inflation.
Patient zero for quiet quitting has some thoughts. The Gen Zer who helped sparked the workplace phenomenon ended up actually quitting his job. Now he's pointing the finger at bad managers for people's apathy toward work.

WHAT ELSE IS GOING ON

AI's threat to teaching, northern lights, & DeSantis

Don't look now, teachers, but AI is coming for your job next. A tech expert described how tools like ChatGPT could upend teaching, including possibly leading to fewer teachers being employed in schools.
The northern lights could be visible from 17 US states on Thursday, including places as far south as Maryland, per the Associated Press. If you want to get a good view, you should get away from city lights between 10 p.m. and 2 a.m. local time.
Gov. Ron DeSantis' low polling numbers are totally not his fault. In a recent interview, the GOP presidential candidate, who has mostly been unable to crack the 25% support mark, blamed the president of Mexico and the corporate media.