The 11th Hour Dispatch — Friday, July 27, 2018
BINGE WATCH
Bad news: If you’ve been counting down to yet another cinematic take on The Jungle Book, you’re going to have to wait a little longer. Good news: you won’t have to leave your couch to see it. Warner Bros. was slated to release Andy Serkis’ Mowgli in theaters October 19, but Netflix has acquired the worldwide rights, and they’ll start streaming it in 2019. But if you prefer to experience the film in 3D as Serkis intended, Netflix has got you covered: you’ll also be able to see it in theaters. Netflix churns out original movies at an ever faster pace, but Mowgli is a huge film that eclipses most of their other offerings in scope, scale, and budget. Prior to this, Mowgli has already had a … challenging journey to the screen. It was originally in production at the same time as Disney’s The Jungle Book, but Serkis “decided to let the other film have its moment.” Sure, Jan. This is reportedly a darker version of the Rudyard Kipling classic than audiences have seen before, with the goal of getting a PG-13 for its scarier moments and grimmer themes. So, I’m guessing there won’t be any singing bears…
YOUNG MONEY
It apparently does not take two to make a thing go right. The Winklevoss twins’ bitcoin ETF was again denied by the Securities and Exchange Commission. This would have been the first cryptocurrency to be listed on a regulated exchange, but the SEC was “designed to prevent fraudulent or manipulative acts or practices and to protect investors, and that they were concerned about fraud and manipulation of bitcoin, particularly since this is done in a largely unregulated offshore market.” In response, Bitcoin’s price fell 3 percent yesterday to $7,880, but it gained 4 percent today as of press time. If the Winkelvi are feeling down, I’d recommend listening to Armie Hammer’s voice since that’s what I always do when I need a pick-me-up, but their mileage may vary.
BIG BUSINESS
Well, folks, it was fun while it lasted. Though MoviePass isn’t quite over yet, an outage last night — and the reason for it — could mark the real beginning of the end for the $10-a-month movie app (if peak pricing and a reverse stock splitweren’t big enough harbingers for you). Subscribers couldn’t use the MoviePass app yesterday evening, but it wasn’t a simple tech issue. Instead, the cause was a lack of money to pay for all those Thursday night showings of Mamma Mia! Here We Go Again! MoviePass owners Helios and Matheson Analytics had to file the $5 million cash loan they secured from Hudson Bay Capital Management with the SEC today, but fans still couldn’t use the app this morning for the free AC. After trading at a peak of $14 earlier this week due to that reverse stock split, Helios and Matheson closed today at $2.00. If you plan on seeing Mission: Impossible — Fallout this weekend (likely — and deservedly — one of this summer’s biggest hits), you should plan on paying for it literally any other way than with your undependable little red credit card.
NOTHIN’ BUT ‘NET
My favorite part of this Sandlot moment is that these two guys are still friends.
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