✔️ 2022-06-11 08:05:20 – Paris/France.
Fox News contributor Brian Brenberg discusses new reports that Twitter will provide Elon Musk users with spam and fake account data as the $40 billion deal to buy the social media company remains in waiting.
As Tesla CEO Elon Musk, the world's richest person, makes headlines with his $44 billion acquisition of Twitter, among other things, his sister, Tosca Musk, has charted her own course with the creation of PassionFlix.
Tosca Musk, CEO of PassionFlix (Nolwen Cifuentes)
Founded in 2017 by Musk and his two friends, Jina Panebianco and Joany Kane, the service of Streaming offers women's content adapted from romance novels, a category according to Musk "completely ignored" by the industry before its launch.
"When 50 Shades of Gray was doing so well, they were like, 'Wow, everyone watched 50 Shades of Grey. Let's do Fast and the Furious 7′,” Musk told FOX Business.
"And you're like, 'OK, but everybody's watching 50 Shades of Grey, so wouldn't you do more women's content or romance novels?' And that was not the direction the general industry wanted to take. »
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Musk says PassionFlix was immediately embraced by romance fans who were ready to sign up even before it launched. She declined to provide specific subscriber data, but noted that PassionFlix's base grew 53% in 2020 and 73% in 2021.
To date, the company has raised just under $22 million from investors. Notable investors who helped fund PassionFlix early on include television producer Norman Lear and his wife Lyn, angel investor Jason Calacanis, and Kimbal Musk, his brother. She declined to say whether Elon also invested.
Norman Lear and Lyn Lear at arrivals for the 25th Annual Critics' Choice Awards at Barker Hangar on January 12, 2020 in Santa Monica, California | Getty Images
"If I answer that question, everyone says Elon paid if I say he did," Tosca Musk said. “And if I say he hasn't invested in it, then you would say he doesn't support me and doesn't think it's a good idea. So I can't answer the question – a double-edged sword – so I won't.
“But I will say that my family is very close, very supportive. Any questions I have, I can go to any of my family members, and they're very happy to help, which is really great. I'm very lucky that way. »
Today, PassionFlix is available in 150 countries for $5,99 per month through its own website as well as iOS, Google Play, Roku, Amazon Prime Channels, Comcast, Cox, Vizio TVs, and most smart TVs. In addition to featuring original movies and TV shows, PassionFlix is constantly reviewing different licensed content rated on a so-called 'barometer of badness', ranging from 'Oh So Vanilla' to 'NSFW' - not sure for work.
Elon and Tosca Musk (Patrick T. Fallon/Bloomberg via Getty Images/Getty Images)
Tosca did not discuss the Twitter deal with Elon, but said he was confident he would do "a great job" of improving the social media giant's user experience if the acquisition is successful.
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TWTR | TWITTER INC. | 38,98 | -0,55 | -1,39% |
“He has a brilliant understanding of things in general, and I'm excited to see what he would do with it,” she said.
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As CEO of PassonFlix, Musk wears many hats, including majority directing and executive producing all of the service's original movies and TV series, writing and rewriting scripts, color syncing, researching ideas for merchandise and events and even keeping company accounts. order.
Although she took longer than her brothers to find her footing, she developed a similar entrepreneurial style.
“We take a lot of risks, but they are calculated risks. I like to do things differently,” she said. “Just because it hasn't been done before doesn't mean it can't be done and shouldn't be done.
"I really like the commitment of the people involved and the fans of PassionFlix, and I believe it's the same with the work of my two brothers," she adds. “I think we can get people to be very engaged and excited about the things we build. It certainly helps me stay enthusiastic about the work I do. »
Tosca Musk chats with actor Charles Shaughnessy on the set of 'Driven' Season 3.
On May 6, the company held its first PassionCon, a three-day fan event that featured the third-season premiere of “Driven,” which centers on a kind and resilient woman who falls in love with a pilot from bad-boy racing car. .
Maye Musk and Tosca Musk attend the Season 3 Premiere of Passionflix's 'Driven' during the first ever PassionCon at The Ritz-Carlton, Marina del Rey on May 6, 2022 in Marina del Rey, California. (Jon Kopaloff/Getty Images/Getty Images)
Additionally, PassionFlix sells branded t-shirts, hats, mugs, drinking glasses, and a $35 bottle of wine called "Toe Curling Yumminess." PassionFlix plans to release four more branded wine bottles in the coming years.
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Although bigger players in the Streaming as Netflix and Starz have made adaptations of "Bridgerton" and "Outlander," Musk doesn't see them as rivals.
"I'm a big fan of anyone adapting romance novels," she said.
Netflix recently saw its first loss of subscribers in more than a decade, attributing the decline to factors such as account sharing between more than 100 million households, competition with other services of Streaming, slow economic growth, inflation, Russia's invasion of Ukraine, and the continued disruption caused by the COVID-19 pandemic.
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NFLX | Netflix INC. | 182,94 | -9.83 | -5.10% |
Musk says PassionFlix doesn't experience the same challenges with subscribers.
"The romance community is very strong and very loyal, so we don't really face the same issues as Netflix because we are not hundreds of millions of subscribers,” she said. " At the end of the day, Netflix must be everything for everyone, and they do a great job. At some point, there has to be a slowdown in growth, it's just inevitable. »
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Asked about PassionFlix's future, Musk said it was open to an IPO or merger.
“An IPO is always an option and certainly something that is very attractive to many of my investors. It's not attractive to some others who would like to see us sell out,” she said. “So I think if the opportunity arose for either of those options and made sense to us, then we would explore both. »
She teased that she had some opportunities she was "excited to explore further" but declined to elaborate.
Ultimately, Musk hopes PassionFlix will lead to more positive content being created.
“I think it's important for us to focus, now more than ever, on positive content, because when we start putting out all this negative content, I think people learn from the media, and we have the opportunity , as filmmakers, to give a positive outlook on life. ,” she explained. “And I really hope that's what PassionFlix brings to people. »
SOURCE: Reviews News
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