iWorld
YouTube Red announces list of new originals; ‘Step Up’ to release in 2017
CANNES: With Japan being the country of honour this year, one of the biggest content markets in the world MIPCOM took off with a great start by having Sony Corporation CEO and president, Kazuo Hirai, delivering a keynote session on the company’s work and its recent Playstation VR launch. While Japan promises to be 8K-ready by 2017, there was another interesting keynote session by YouTube global head of content Susanne Daniels about the original series and movies being featured on YouTube Red.
She was joined on stage by: Lionsgate TV chairman Kevin Beggs and Rooster Teeth co-founder and chief creative officer Burnie Burns.
Susanne Daniels starts off by introducing what YouTube Red is. While YouTube’s content is available at free of cost, YouTube Red is a paid membership that enables the ultimate YouTube experience. Members get all of YouTube uninterrupted, a premium YouTube music experience, and exclusive access to new original series and movies from top YouTube creators. YouTube Red is currently available in the United States, Australia and New Zealand, with plans for additional international expansion throughout 2017.
“People have asked me what’s our original programming strategy? Are we planning to mirror Netflix or Amazon in bringing TV to digital, or recreate the programming themes of MTV? The answer to those questions is no. Our goal is to be uniquely YouTube. And our thesis is simple: Identify YouTube’s most engaging stars and top genres, and invest in the content that fans tell us they want. In other words, let our community drive our content.”
Daniels goes on to mention that over the last year, YouTube Red has seen its original series become one of the leading drivers of subscriptions, with viewership that rivals cable shows in the US. Over half the time people spend watching originals on their mobile phones. And in the living room, Red members watch over 75 per cent more YouTube on their TV’s than the average YouTube viewer.
Talking about their digital strategy, Kevin Beggs says, “At Lionsgate, we pride ourselves on going new places and forming innovative new partnerships that have never been tried before. Time and again, we’ve been first movers on new platforms. I believe YouTube is embarking on something big, a new chapter in its history that has the potential to change the way people think about its brand in a way that can benefit all of us here.”
“I often get asked about the secret of our success. And to me, it easily comes down to two things: community and conversation,” a cheery Burnie Burns says. Talking about his journey, Burns elaborates, “When Rooster Teeth was born there was no YouTube and no real online advertising opportunity. So we had to engage our audience not only to watch our content, but also invest in it as well. We learned early on that talking “at” our audience was not enough. We knew we had to start a conversation, take them from being just viewers, to fans and friends, and ultimately create an engaged community around our brand for our business to succeed.”
In the end, good news came in for YouTube fans as new season renewals and shows was announced. These include:
Renewal of another season of the series Foursome, the sequel to Burnie Burns’s Lazer Team movie, and season two of Scare PewDiePie.
They have greenlit a second season of Joey Graceffa’s murder mystery series, “Escape the Night.”
YouTube Red has commissioned a drama with Universal Cable Productions called IMPULSE, from director Doug Liman. IMPULSE is a sci-fi thriller about a young girl who discovers her ability to teleport away from danger. The series will feature top YouTubers and will have Jeff Lieber – best known for the TV series “Lost” – attached to write and produce.
Next is a scripted comedy series from Dan Harmon’s Emmy Award-winning production company Starburns Industries. The series will feature YouTube stars Dan Avidan and Arin Hanson of Game Grumps and follows a newly-formed team of eSports players trying to make it to the top in the cutthroat world of competitive gaming.
The next original is going to excite you as together with Studio 71 and Corridor Digital, Dwayne Johnson will executive produce a new half hour action series about a life insurance company that send its agents forward 33 days in time to prevent the accidental deaths of its clients.
Along with these, the announcement made by Kevin Beggs would be loved by all the dance lovers as he disclosed that Lionsgate will be coming out with episodes of their hit movie franchise Step Up in 2017.
iWorld
Bill Ackman makes a $64bn bid for Universal Music Group
The hedge fund boss wants to list the world’s biggest record label in New York and thinks he knows exactly what ails it
NEW YORK: Bill Ackman wants to buy the world’s biggest record label. Pershing Square Capital Management, the hedge fund run by the billionaire investor, submitted a non-binding proposal on Tuesday to acquire all outstanding shares of Universal Music Group in a business combination transaction worth roughly $64.4 billion (around 55.8 billion euros).
Under the terms of the offer, UMG shareholders would receive 9.4 billion euros in cash, equivalent to 5.05 euros per share, plus 0.77 shares of a newly created company, dubbed New UMG, for each share held. Pershing Square values the total package at 30.40 euros per share, a 78 per cent premium to UMG’s closing price on April 2.
The deal would see UMG merge with Pershing Square SPARC Holdings, with the combined entity incorporating as a Nevada corporation and listing on the New York Stock Exchange. New UMG would publish financial statements under US GAAP and become eligible for S&P 500 index inclusion. Pershing Square says the transaction is expected to close by year-end, with all equity financing backstopped by Ackman’s firm and its affiliates, and all debt financing committed at signing. The transaction would cancel 17 per cent of UMG’s outstanding shares, leaving New UMG with 1.541 billion shares outstanding.
Ackman has a long history with UMG. Pershing Square first bought approximately 10 per cent of the company from Vivendi in the summer of 2021 for around $4 billion, around the time of UMG’s listing on the Euronext Amsterdam exchange. He has since trimmed that position, raising around $1.4 billion from the sale of a 2.7 per cent stake in March 2025, and resigned from UMG’s board in May 2025, citing new executive and board obligations arising from recent investments.
His diagnosis of UMG’s troubles is blunt. The company’s stock has fallen around 33 per cent over the past twelve months on the Euronext Amsterdam exchange, and Ackman lays out six reasons why. These include uncertainty around the Bolloré Group’s 18 per cent stake in the company, the postponement of UMG’s US listing, the underutilisation of UMG’s balance sheet, the absence of a publicly disclosed capital allocation plan and earnings algorithm, a failure to reflect UMG’s 2.7 billion euro stake in Spotify in its valuation, and what Ackman calls suboptimal shareholder investor relations, communications and engagement.
The Bolloré stake has long cast a shadow over the company. Cyrille Bolloré stepped down from UMG’s board in July 2025 as the Bolloré Group battled the French financial markets regulator over its stake in Vivendi, which holds a further capital interest in UMG. UMG had confidentially filed a draft registration statement with the US Securities and Exchange Commission in July 2025 for a proposed secondary listing in America, but put those plans on hold in March 2026, citing market conditions.
Ackman has kind words for UMG’s management, at least. “Since UMG’s listing, Lucian Grainge and the company’s management have done an excellent job nurturing and continuing to build a world-class artist roster and generating strong business performance,” he said. But he made his diagnosis plain: “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction.”
In other words, Ackman believes UMG is a great business trapped inside a broken structure. If the board agrees, he intends to fix that, loudly and in New York.
