Although African-Americans weren’t prominent in Forbes’ annual list of the richest Americans, they are definitely well-represented among Hollywood power couples. The finance magazine has released its list of the highest earning celebrity couples and perhaps to the surprise of no one rapper Jay Z and his wife, pop icon Beyoncé, top the list. The chart topping duo earned $95 million last year through their concerts, album sales and endorsements, putting them ahead of couples like Tom Brady and Gisele Bündchen, as well as Brad Pitt and Angelina Jolie.
Kanye West and Kim Kardashian, who just welcomed their first child, a daughter named North, into the world, came in 5th overall, earning $30 million. Still none of these couples’ earning power combined reaches the height of say Oprah Winfrey, who, bolstered by rising OWN ratings, has made close to $3 billion in the last year.
article via thegrio.com
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Floyd Mayweather wasn’t the only one raking in the dough Saturday night. The Mayweather-Canelo boxing match, broadcast on Showtime Pay-Per-View, snagged nearly $150 million, making it the highest-grossing pay-per-view of all time. The fight’s PPV gross topped 2007′s Oscar De La Hoya vs. Floyd Mayweather bout, which drew $136 million. Preliminary reports show the Mayweather-Canelo fight — titled “The One” — at roughly 2.2 million PPV buys.
The existing records for PPV buys is 2.48 million for the De La Hoya-Mayweather match, though Showtime notes that Saturday night’s fight may break that record, as well.“The One,” held at the Las Vegas MGM Grand Garden Arena, sold out within 24 hours of going on sale and broke a live gate revenue with $20 million. Mayweather Promotions and Goldenboy Promotions promoted the boxing event.
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article by AJ Marechal via Variety.com
Although it’s been in theaters for more than a month, Lee Daniels’ The Butler continued its strong box-office performance with a fourth-place finish that saw North American ticket sales cross the $100 million mark. With a production budget of approximately $30 million, in limited release internationally and awards season still ahead, The Butler is in strong contention for becoming one of the most profitable movies of 2013.
The top movie this weekend was horror film Insidious: Chapter 2, which debuted in first place with $41 million, more than tripling the opening take of the 2010 original. Another newcomer, Relativity Media’s Robert De Niro-Michelle Pfeiffer crime caper The Family, opened in second place with $14.5 million. That bumped last week’s champ, the Vin Diesel starrer Riddick, to third. Jennifer Aniston vehicle We’re The Millers rounded out the top five.
article by Lori Lakin Hutcherson
Vin Diesel helped light up what is usually a dark post-Labor Day box office period, with Universal’s franchise pic “Riddick” scoring a solid estimated $18.7 million domestically. The film claimed the weekend’s No. 1 spot, unseating the Weinstein Co.’s “Lee Daniels’ The Butler,” which stayed strong in second place with $8.9 million. The three-week champ, which fell just 40% in its fourth frame, reached $91.9 million Stateside through Sunday.
Total domestic box office was up over this time last year by roughly 25%, thanks also to a excellent expansion for Lionsgate-Pantelion’s “Instructions Not Included.” The Hispanic-targeted crowdpleaser earned $8.1 million from just 717 locations, up from 384 last weekend, for a U.S. cume now past $20 million.
It was a sci-fi-themed weekend globally: Sony’s futuristic pic “Elysium” ranked first overseas with an estimated $21.2 million, of which China contributed $11.7 million in its first weekend locally. In total, “Elysium” has cumed $127 million internationally and $212 million worldwide.
While “Riddick” defied the post-Labor Day slump, the film still came in on the low-side of expectations. Pic opened with less than its predecessor’s $24 million debut in 2004, but the $38 million three-quel outperformed the original film, 2000′s “Pitch Black,” which grossed $11.6 million during opening weekend.
“We always try to find the right time for the right films,” said Universal distribution prexy Nikki Rocco. “This was an inexpensive venture for Universal, and we wanted Vin to have the No. 1 film.”
Not surprisingly, “Riddick” earned most of its opening from men, at 59%, with Hispanics contributing a sizable 37% of the gross. Imax also helped with fanboy appeal, posting $2.5 million of the domestic opening.
article by Andrew Stewart via variety.com
Total domestic box office was up over this time last year by roughly 25%, thanks also to a excellent expansion for Lionsgate-Pantelion’s “Instructions Not Included.” The Hispanic-targeted crowdpleaser earned $8.1 million from just 717 locations, up from 384 last weekend, for a U.S. cume now past $20 million.
It was a sci-fi-themed weekend globally: Sony’s futuristic pic “Elysium” ranked first overseas with an estimated $21.2 million, of which China contributed $11.7 million in its first weekend locally. In total, “Elysium” has cumed $127 million internationally and $212 million worldwide.
While “Riddick” defied the post-Labor Day slump, the film still came in on the low-side of expectations. Pic opened with less than its predecessor’s $24 million debut in 2004, but the $38 million three-quel outperformed the original film, 2000′s “Pitch Black,” which grossed $11.6 million during opening weekend.
“We always try to find the right time for the right films,” said Universal distribution prexy Nikki Rocco. “This was an inexpensive venture for Universal, and we wanted Vin to have the No. 1 film.”
Not surprisingly, “Riddick” earned most of its opening from men, at 59%, with Hispanics contributing a sizable 37% of the gross. Imax also helped with fanboy appeal, posting $2.5 million of the domestic opening.
article by Andrew Stewart via variety.com
Superstar boxer Floyd Mayweather Jr. is breaking the record for being the highest-paid boxer for one fight. He will reportedly net more than $41 million for facing Saul “Canelo” Alvarez.
Mayweather’s Money Team signed a very lucrative contract with Showtime Networks earlier this year. The network will broadcast six of his fights over 30 months and they are set to pay him a whopping $200 million. Mayweather’s fight against Alvarez is the second fight of the agreement. Mayweather’s $41 million payday breaks the record he set when he fought Miguel Cotto and Robert Guerrero in May of 2012 and May of this year respectively. Each of those fights added $32 million to Mayweather’s bank accounts.
While $41 million is a hefty sum of money, Floyd Mayweather could possibly earn more through pay-per-view. According to reports by ESPN.com, people do expect the Mayweather-Alvarez bout to match or surpass the record of 2.44 million purchases. 2.44 million people generated about $130 million for the 2007 match between Mayweather and Oscar De La Hoya. It’s very likely This fight will be more successful than the bout between De La Hoya and Mayweather because Golden Boy boxing promoter Richard Schaefer says the fight has already broken the all-time record for ticket sales for an MGM Grand boxing match.
The Mayweather-Alvarez fight will take place on September 14.
article by Johnathan Hailey via theurbandaily.com
Mayweather’s Money Team signed a very lucrative contract with Showtime Networks earlier this year. The network will broadcast six of his fights over 30 months and they are set to pay him a whopping $200 million. Mayweather’s fight against Alvarez is the second fight of the agreement. Mayweather’s $41 million payday breaks the record he set when he fought Miguel Cotto and Robert Guerrero in May of 2012 and May of this year respectively. Each of those fights added $32 million to Mayweather’s bank accounts.
While $41 million is a hefty sum of money, Floyd Mayweather could possibly earn more through pay-per-view. According to reports by ESPN.com, people do expect the Mayweather-Alvarez bout to match or surpass the record of 2.44 million purchases. 2.44 million people generated about $130 million for the 2007 match between Mayweather and Oscar De La Hoya. It’s very likely This fight will be more successful than the bout between De La Hoya and Mayweather because Golden Boy boxing promoter Richard Schaefer says the fight has already broken the all-time record for ticket sales for an MGM Grand boxing match.
The Mayweather-Alvarez fight will take place on September 14.
article by Johnathan Hailey via theurbandaily.com
According to msnnow.com, Jaylen Bledsoe is a 15-year-old sophomore at Hazelwood West High School in St. Louis who also happens to be the CEO and President of Bledsoe Technologies. Bledsoe started his IT consultancy when he was 12 or 13, quickly growing it into the $3.5 million enterprise it is today.
He plans to attend Harvard after he graduates from high school and will be a presenter for a St. Louis youth entrepreneurship nonprofit Independent Youth at their annual TrepStart Day in September, as well as being a national speaker for the organization. To see video of Bledsoe and his story, click here: [Source]
article by Lori Lakin Hutcherson
According to box office estimates, Lee Daniels’ The Butler the film beat out One Direction: This Is Us to win the Labor Day weekend box office race and become the first movie this year to finish No. 1 three consecutive weeks, according to TheWrap.
It appears the civil rights saga, starring Oprah Winfrey and Forest Whitaker, will bring in a little more than $20 million over the four-day holiday weekend. After looking as if it was going to finish in the top spot, Sony’s boy band music documentary ended the Labor Day weekend with $18 million.
“We’re surprised,” The Weinstein Company’s distribution chief Erik Lomis told TheWrap, “and very proud. We weren’t expecting to come away with this one, especially after starting out $5 million behind ‘One Direction’ after Friday.”
Lomis said “The Butler,” which has now brought in nearly $80 million domestically, was continuing to broaden its demographic base by playing younger.
“With the kids getting back to school, we’re hoping the word of mouth gets even stronger,” said Lomis. There’s not much room to expand in terms of theaters; it’s on 3,330 screens and averaged just over $6,000.
Two other wide openers – the Selena Gomez-Ethan Hawke thriller “Getaway” and the Eric Bana spy tale “Closed Circuit” – were both non-starters. But “Instructions Not Included,” a family comedy starring Eugenio Derbez, recorded the biggest domestic opening ever for a Spanish-language movie – on just 347 screens – and finished fifth with $10 million for the four days.
Get the FULL story at TheWrap.
“We’re surprised,” The Weinstein Company’s distribution chief Erik Lomis told TheWrap, “and very proud. We weren’t expecting to come away with this one, especially after starting out $5 million behind ‘One Direction’ after Friday.”
Lomis said “The Butler,” which has now brought in nearly $80 million domestically, was continuing to broaden its demographic base by playing younger.
“With the kids getting back to school, we’re hoping the word of mouth gets even stronger,” said Lomis. There’s not much room to expand in terms of theaters; it’s on 3,330 screens and averaged just over $6,000.
Two other wide openers – the Selena Gomez-Ethan Hawke thriller “Getaway” and the Eric Bana spy tale “Closed Circuit” – were both non-starters. But “Instructions Not Included,” a family comedy starring Eugenio Derbez, recorded the biggest domestic opening ever for a Spanish-language movie – on just 347 screens – and finished fifth with $10 million for the four days.
Get the FULL story at TheWrap.
LOS ANGELES (AP) — The Oprah Winfrey Network (OWN) is in the black for the first time since its rocky start two-and-a-half years ago. More than 30 new advertisers are joining original heavyweight sponsors Procter & Gamble and General Electric, and are paying higher rates as the channel has found its programming and distribution footing. Headlines about profitability and audience growth have replaced the drumbeat of speculation that her ambitious venture with Discovery Communications might end up a costly flop and an uncharacteristic failure for Winfrey.
Now, Winfrey says, “rewarding” is the word for her experience at OWN, both as the chairwoman and CEO shaping the channel and as a viewer lodestone who hosts several series including “Oprah’s Next Chapter” and “Oprah’s Lifeclass.”
“I no longer have such fear and anxiety about it. I really have more confidence in my decisions,” Winfrey said. “In the beginning, I was in a lot of meetings where people said, ‘You don’t understand cable.’ … I’d say, ‘But I do understand the audience. Aren’t people the same?’”
The answer is yes, says Winfrey, who’s enjoying a career renaissance with OWN’s turnaround and her return to big-screen acting in “Lee Daniels’ The Butler,” No. 1 at the box office for two weeks with more than $50 million in tickets sales.
Her confidence in OWN also is backed up by numbers. For the year to date, viewership is up 22 percent among the target audience of adult women and 23 percent among all viewers compared to last year, according to Nielsen Co. In the third quarter, prime-time viewership among women 25 to 54 and total viewers each are up more than 60 percent compared to 2012. For August, OWN drew a channel-high 536,000 prime-time viewers, a fraction of the millions that watched Winfrey’s talk show but respectable for a developing cable channel.
“I no longer have such fear and anxiety about it. I really have more confidence in my decisions,” Winfrey said. “In the beginning, I was in a lot of meetings where people said, ‘You don’t understand cable.’ … I’d say, ‘But I do understand the audience. Aren’t people the same?’”
The answer is yes, says Winfrey, who’s enjoying a career renaissance with OWN’s turnaround and her return to big-screen acting in “Lee Daniels’ The Butler,” No. 1 at the box office for two weeks with more than $50 million in tickets sales.
Her confidence in OWN also is backed up by numbers. For the year to date, viewership is up 22 percent among the target audience of adult women and 23 percent among all viewers compared to last year, according to Nielsen Co. In the third quarter, prime-time viewership among women 25 to 54 and total viewers each are up more than 60 percent compared to 2012. For August, OWN drew a channel-high 536,000 prime-time viewers, a fraction of the millions that watched Winfrey’s talk show but respectable for a developing cable channel.
Bank of America Corp’s Merrill Lynch unit agreed to pay $160 million to settle a racial bias lawsuit that went through two appeals at the United States Supreme Court, the New York Times reported, citing the plaintiff’s lawyer.
Longtime Merrill broker George McReynolds filed the lawsuit in 2005 accusing the brokerage of steering blacks into clerical positions and diverting lucrative accounts to white brokers, resulting in lower pay and fewer career growth opportunities.
The payout in the suit, which was filed on behalf of 700 black brokers who worked for Merrill, would be the largest sum ever distributed to plaintiffs in a racial discrimination suit against an American employer, according to the New York Times.
The preliminary settlement was confirmed to the newspaper by a spokesman for Merrill Lynch and Linda Friedman, a Chicago lawyer who represents the brokers. (http://link.reuters.com/wes62v) “We are working toward a very positive resolution of a lawsuit filed in 2005 and enhancing opportunities for African-American financial advisers,” Bill Halldin, a spokesman for Merrill Lynch, told the paper.
Merrill Lynch and Stowell & Friedman, the law firm representing McReynolds, could not immediately be reached for comment by Reuters outside of regular U.S. business hours.
article by Seth Wenig, AP via nbcnews.com
According to variety.com, three new wide releases, led by Sony-Screen Gems’ Y/A adaptation The Mortal Instruments: City of Bones, with an estimated $14.1 million in five days, were no match for Lee Daniels’ The Butler, which only fell 31% in its second weekend, for a projected $17 million through Sunday. The Weinstein Co.-distributed movie has earned north of $52 million so far.
The holdover success of Lee Daniels’ The Butler can be largely attributed to its broadening audience: Last weekend, the film earned 76% of its gross from audiences over 35, while in its second weekend, that share shrunk to 63%. Moreover, African-Americans contributed a weighty 39% of the film’s opening; just 33% of its total this weekend came from black viewers. The film’s playability mirrors the stronghold that The Help had on the box office this time two years ago.