Hollywood’s Brightest Stars Turn Out for the American Film Institute Awards

 Leonardo DiCaprio attends the AFI (American Film Institute) Awards Luncheon in Los Angeles, California, US, January 12, 2024. (Reuters)
Leonardo DiCaprio attends the AFI (American Film Institute) Awards Luncheon in Los Angeles, California, US, January 12, 2024. (Reuters)
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Hollywood’s Brightest Stars Turn Out for the American Film Institute Awards

 Leonardo DiCaprio attends the AFI (American Film Institute) Awards Luncheon in Los Angeles, California, US, January 12, 2024. (Reuters)
Leonardo DiCaprio attends the AFI (American Film Institute) Awards Luncheon in Los Angeles, California, US, January 12, 2024. (Reuters)

Laughs and hugs were shared between Hollywood's best — including Margot Robbie, Meryl Streep and Leonardo DiCaprio — during a celebratory ceremony where everyone ended up walking away a winner at the American Film Institute Awards on Friday.

The annual invite-only luncheon honored 10 films and 10 television shows with well-spoken words about each celebrated project followed by a brief clip of a scene.

“Welcome to the annual AFI group hug,” institute President Bob Gazzale said as many in the audience chuckled. “For those who are new to this humble affair, the answer is ‘No. ... No.' You are not going to lose. Losing doesn't happen here.”

Most appeared in a jovial mood with smiles and lengthy conversations in the ballroom in Beverly Hills.

Robbie chatted for a while with “Oppenheimer” director Christopher Nolan, who eventually pivoted to shake hands with Robbie's “Barbie” castmate America Ferrera. “Maestro” stars Bradley Cooper and Carey Mulligan enjoyed their time together on the red carpet while “Beef” star Ali Wong caught up with Ted Sarandos, co-CEO of Netflix.

“American Fiction” stars Jeffrey Wright and Sterling K. Brown huddled up with “Jury Duty” star James Marsden and former BET CEO Debra L. Lee. Director Steven Spielberg took photos with “Barbie” director Greta Gerwig.

The AFI event is all about having fun, creating a laid-back vibe with no pressure.

“When we began this event, now over 20 years ago, the idea was simple: We tell you you're great and why,” Gazzale said. “We share a moment of your film or television program. ... This community is not competition. It's never a competition. I know that doesn't sound ideal. But that's who we are.”

Films honored include “American Fiction,” “Barbie,” “The Holdovers,” “Killers of the Flower Moon,” “Maestro,” “May December,” “Oppenheimer,” “Past Lives,” “Poor Things" and “Spider-Man: Across the Spider-Verse.”

Television shows recognized were “Abbott Elementary,” “The Bear,” “Beef,” “Jury Duty,” “The Last of Us,” “The Morning Show,” “Only Murders in the Building,” “Poker Face,” “Reservation Dogs” and “Succession.”

Others in the star-studded room included Cillian Murphy, Emily Blunt, Jennifer Aniston, Robert Downey Jr., Emma Stone, Selena Gomez, Quinta Brunson, Lily Gladstone, Ayo Edebiri and Tracee Ellis Ross.

Ellen Burstyn closed the luncheon with a benediction to celebrate the honorees, whom she praised.

“I feel blessed to be part of this amazing tribe,” the 91-year-old Oscar, Emmy and Tony award winner said. “Thank you all for celebrating the best without making it a competition, just a shared appreciation. We appreciate you all.”



Netflix Subscriber Additions Likely Slowed, Growth Strategy in Focus

FILE PHOTO: The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, US, July 12, 2023. REUTERS/Mike Blake/File Photo
FILE PHOTO: The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, US, July 12, 2023. REUTERS/Mike Blake/File Photo
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Netflix Subscriber Additions Likely Slowed, Growth Strategy in Focus

FILE PHOTO: The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, US, July 12, 2023. REUTERS/Mike Blake/File Photo
FILE PHOTO: The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, US, July 12, 2023. REUTERS/Mike Blake/File Photo

Netflix could report its slowest subscriber additions in six quarters on Thursday as gains from a password-sharing crackdown ease, with investors looking for signs its nascent ad revenue business is accelerating.
The streaming giant likely added 4 million subscribers in the July-September period, according to analysts' estimates compiled by LSEG. Netflix originals such as "The Accident" and "The Perfect Couple" were among the top streamed titles in the US during the quarter, Nielsen data showed, according to Reuters.
As the pace of sign-ups slows, Netflix is trying to shift investor attention towards other performance measures including revenue growth and margins. It will stop reporting subscriber data from 2025.
"Their focus is to continue to grow subscribers at a healthy clip while also leveraging their scale, ability to raise prices and increase advertising dollars," said Pivotal Research analyst Jeff Wlodarczak.
The company's ad-supported plan has been growing but Netflix does not offer details on the tier's financial performance and does not expect it to become a primary driver of growth until 2026.
This has raised some concerns about its growth trajectory.
"They're making less than a billion dollars a year in the US on advertising, saying that doesn't make them look good," eMarketer television and streaming analyst Ross Benes said.
Some analysts have said the company needs to raise prices and phase out more of its ad free plans to nudge customers towards the tier with commercials as it usually brings in more revenue per user.
The company said in July last year it would stop offering the $9.99 a month basic plan without commercials to new users in the US and the UK, and phase it out for existing subscribers.
Netflix charges $6.99 per month in the US for the ad tier, while its standard plan without commercials is priced at $15.49 a month.
It has not raised the price of its standard plan since early 2022, while its ad-supported tier has been priced the same since its launch in late 2022.
The company, which operates in more than 190 countries, is expected to report ad revenue of $242.7 million in the third quarter, according to the average of estimates from three analysts compiled by LSEG. Overall revenue is expected to grow 14.3%, a slightly slower pace than the previous three months, to $9.76 billion.
To attract more advertisers, the streamer is focusing on live events including sports. Netflix will air the highly anticipated Jake Paul vs. Mike Tyson boxing fight in November, followed by its first NFL games in December.
The second season of hit South Korean drama series "Squid Game,” expected to release in December, could help the company draw subscribers in the last quarter of the year.
Netflix stock has risen 12.4% since it reported second-quarter results in July, compared with a 5% rise in the S&P 500 index.