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Lionsgate Taps 3 Arts Roster for Two Fox Comedy Series Prospects

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Lionsgate is capitalizing on its recent acquisition of 3 Arts Entertainment by setting up two multi-camera comedy series prospects for Fox from talent repped by the management-production firm.

Both projects will be co-productions with Fox Broadcasting Co. The orders for these projects and others are a sign that Fox intends to continue developing scripted series even as its parent company awaits a big transition in selling off other studio and network assets to Disney.

“Uncle Joey” stars comedian Joey Diaz as a Cuban immigrant with a troubled past who moves to an upscale suburb to raise his daughter. “King of the Hill” alums Sivert Glarum and Michael Jamin penned the script and exec produce with Diaz and 3 Arts’ Michael Rotenberg, Jonathan Berry and Josh Lieberman.

“Significant Brother” revolves around a newlywed couple whose life is changed when the brother’s estranged gay brother moves in and becomes best friend with his wife. The concept is based on the real-life friendship of writers Scott King and Moe Jelline, who exec produce with 3 Arts’ Dave Becky and Jonathan Berry and Peter Principato and Maggie Haskins of Artists First.

Fox has given both projects a script-plus-penalty commitment.

Separately, Fox unveiled an animated project in the works, “Buffalo Wings,” about two Canadian brothers who decide not to fly south for the winter and wind up taking refuge in Buffalo, N.Y. where they begin to pursue the American dream. The project is penned and exec produced by Hugh Davidson, Rachel Ramras and Larry Dorf for 20th Century Fox Television.

Glarum and Jamin are repped by UTA, 3 Arts and Morris Yorn. Diaz is represented by CAA and 3 Arts. Scott is with UTA, 3 Arts and Hansen Jacobson. Moe is with Artists First and Stone Genow.

(Pictured: Joey Diaz)

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A Look At Our $105 Price Estimate For Electronic Arts

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(Photo by Matt Sayles/Invision for Microsoft/AP Images)

The growth in the Services segment, primarily led by in-game offerings, is the key factor that will drive Electronic Arts’ (NASDAQ:EA) future earnings growth. The company continues to see strong revenue growth in the Services segment, which is benefiting from live service offerings, such as Ultimate Team, and continued growth in its popular franchises, including FIFA. This trend will likely continue in the near term, as the company expands its live services offerings to other franchises. We have created an interactive dashboard ~ Our $105 Price Estimate For Electronic Arts ~ on the company’s expected performance in fiscal 2019. You can adjust various drivers to see the impact on the company’s overall earnings, and price estimate.

Expect Services Revenue To See Strong Growth In The Near Term

We forecast the Products segment revenues to decline in the coming years. While the segment revenues have hovered around $2.5 billion over the last four years, we forecast them to decline towards to under $2 billion by the end of fiscal 2020. This can partly be attributed to rising popularity of lower price point casual and mobile games, and the company’s focus on expanding its Services business. In Q2 FY19, the company saw a low double digit decline in segment revenues operationally, primarily from Battlefield 1 and Mass Effect: Andromeda. The company will release Battlefield V on November 20, which should boost the Q4 FY19 segment revenues.

Looking at the Services segment, we forecast the revenues to grow in low 20s percent to $3.1 billion in fiscal 2019. The segment is benefiting from the growth in the FIFA franchise, especially its live services, such as Ultimate Team, which has been a big success for Electronic Arts, allowing the company to earn from matchmaking services. In fact, Ultimate Team accounts for 50% of the company’s live services revenues. The segment reported revenues were up 40% in Q2 FY19, reflecting the change in accounting standard. Operationally, the segment revenues were up in high single digits, benefiting from FIFA Ultimate Team and Madden Ultimate Team. The Services segment will likely continue to see strong growth in the coming years, as the company continues to expand its live service offerings into new gaming genres. Ultimate Team was successful for its FIFA franchise, and the same is being expanded to other games, such as NFL, and NHL. In addition, the company’s focus on the China market will aid the segment revenue growth in the coming years.

Our Price Estimate of $105 For Electronics Arts

Overall, we believe that the expansion of live services will be the key growth driver for Electronic Arts in the near term. We currently estimate the company’s overall revenues to be $5.20 billion in fiscal 2019, of which 60% can be attributed to Services, and Products making up for the rest. We forecast the adjusted EPS to be $4.64 in fiscal 2019, and a TTM price to earnings multiple of 22.5x, to arrive at our price estimate of $105 for Electronic Arts, which is at a premium of 20% to the current market price.

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It's Art for Art's Sake on Waypoint Radio This Week

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This week’s Waypoint Radio is about the anxieties surrounding commercial art and the way they can often overshadow art’s cultural value, and how the latter often has more to do with personal meaning and artistic goals than performance in “the marketplace”. Our first point of entry to this topic comes via an article by Liz Ryerson, over at the New and Improved Deorbital, called “There Are Not ‘Too Many Games’: What The Indiepocalypse Panic Ignores“. Then we look at a gorgeous personal essay over at Unwinnable by Amanda Hudgins, “The Kentucky State Fair“, which ends up providing a way of considering one way of practicing what Ryerson is alluding to. More importantly, it’s a story about the place you come from, and the ways you work and experiences can be a gulf between you and the people that you care about.

You can subscribe on iTunes, Google Play, and Stitcher. If you’re using something else, this RSS link should let you add the podcast to whatever platform you’d like. If you’d like to directly download the podcast, click here. Please take a moment and review the podcast, especially on iTunes. It really helps.

Interaction with you is a big part of this podcast, so make sure to send any questions you have for us to gaming@vice.com with the header “Questions.” (Without the quotes!) We can’t guarantee we’ll answer all of your questions, but rest assured, we’ll be taking a look at them.

Have thoughts? Swing by Waypoint’s forums to share them!

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