By Lindsey Bahr, AP Film Writer
LAS VEGAS (AP) --Motion Picture Association of America Chairman Charles Rivkin says Netflix's addition to the group makes the entertainment industry stronger.
Rivkin's remarks are a stark contrast to how the streaming giant is usually referenced at CinemaCon, the annual gathering of movie theater owners and distributors, who generally see the streaming service as a threat to their business model.
The MPAA chairman and CEO kicked off CinemaCon Tuesday morning in Las Vegas with his annual state of the industry remarks.
Rivkin also touted the record 2018 box office year. The North American box office reached $11.9 billion and the global box office hit $41 billion last year.
That growth was helped by an increase in younger and more diverse audiences.
Avid completes acquisition of Wolftech
Avid®, known for software solutions for professional media production, has completed the acquisition of Wolftech Broadcast Solutions, a leader in cloud-based multiplatform news planning, production and publishing solutions.
The acquisition enables Avid to combine its digital-first, end-to-end media solution with Wolftech’s expertise in story-centric workflow management. News organizations will be able to increase efficiency and accelerate story delivery through enhanced remote collaboration and multiplatform amplification.
Avid CEO Wellford Dillard stated, “Wolftech is unquestionably on the leading edge of where the industry is going, and this acquisition demonstrates Avid’s commitment to transform news, sports, and live production workflows. We are delighted to welcome Wolftech into the Avid family.”
Wolftech CEO Arne Berven added, “We were focused on finding a partner that could accelerate the adoption of our platform globally. We explored a number of possibilities, but when we talked to Avid, we knew it was the right match.”
The closing of the acquisition follows Avid’s announcement on October 7 that the company had entered into a definitive agreement to acquire Wolftech.
With this acquisition, Avid deepens the integration between the two toolsets while continuing to embrace an open approach in partnering with a wide range of media production tools and newsroom systems. Existing Wolftech customers will benefit from Avid’s global scale for customer support and professional services.
Ian Axton, head of production operations for ITV News, said, “As a customer of both Avid and Wolftech we’re excited about the benefits this acquisition will bring to our users and our business. Wolftech has transformed... Read More