Reese Witherspoon.Jon Kopaloff/Getty ImagesSome celebrity-led production companies struggled in 2024 as Hollywood cut spending.Investments by firms like Blackstone and RedBird were hampered by market shifts.Despite headwinds, companies like LuckyChap could thrive by diversifying beyond their famous founders.2024 was a bad year for the TV and film business — and was particularly hard for a set of celebrity-backed production companies that previously raised large amounts of capital at eye-popping valuations.Private equity firms like Blackstone and RedBird Capital Partners poured a lot of money into celebrity-led production companies, making notable deals in 2021 to back roll-up Candle Media and LeBron James' SpringHill, respectively.
2024 Was A Rough Year For Celebrity Production Companies In Hollywood And Their Private-equity Backers
lmoses@insider.com (Lucia Moses), Business Insider
Thu, 01/02/2025 - 10:06am
Topics: and saltburn my old ass, cocaine bear bottoms. jon kopaloff/getty imagessome capital partners lebron james springhill paul hardart nyu's stern the candle sunshine kevin mayer blackstone-backed ampere analysis jada pinkett smith's westbrook inc the slap semafor springhill fulwell british tv the kardashians carpool karaoke bloomberg kevin hart's hartbeat ceo dwayne johnson seven bucks productions johnson andy kaufman margot robbie's luckychap warner bros robbie-starring barbie but aubrey plaza brownstone productions elizabeth banks max handelman business witherspoon hollywood blackstone redbird luckychap tv candle media insider hart rough year backers celebrity production companies company streamers market million celebrity-led film famous raised success content money cut started relationships celebrity-backed firms thesis struggled deals roll-up power hits investment protect entertainment making investor anonymity restructured big asked leading
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