Overview of The Hollywood Stock Market: Johnny Depp, Curry Barker, Spielberg, MrBeast, and More!
This live Town episode from The Ringer, recorded at Bloomberg’s Screen Time conference, is an annual “Hollywood Stock Exchange” game where Matt Belloni and Lucas Shaw debate what parts of the entertainment business are overvalued, undervalued, or due for a rebound. The conversation ranges from stars and creators to studios, franchises, music, AI, and the future of film festivals and theatrical distribution.
Major “Sell” Picks
World Cup rights
- Belloni argues the U.S. boom around this year’s World Cup will push future rights prices too high.
- His point: the next tournaments won’t have the same U.S.-friendly timing, so buyers should be careful not to overpay based on this year’s ratings.
Curry Barker
- Belloni sells the breakout filmmaker behind Obsession, saying the success may be hard to repeat.
- The concern is classic “too high on his own supply” risk after a massive, low-budget hit.
- Shaw agrees the follow-up pressure is enormous, though he notes the next movie doesn’t need to be a giant hit to count as a win.
MrBeast
- Sold on valuation, not relevance.
- The worry is that the business has raised money at a very high valuation, is juggling too many ventures, and hasn’t yet delivered the public-market or profitability momentum people expected.
- The hosts also question whether creator brands like his stay culturally durable as the audience ages.
Steven Spielberg
- Belloni makes the biggest “sacred cow” sell of the episode.
- His argument: Spielberg’s brand no longer reliably draws theatrical audiences the way it once did, and even a major return-to-form project like The Fabelmans follow-up or Disclosure Day didn’t move the box office enough.
- The broader takeaway is that even the most legendary directors may need to scale down and rethink the kind of movies they make for today’s audience.
Taylor Swift
- Belloni says the fan response is softening and that she may be entering a new chapter more focused on filmmaking and prestige projects.
- He frames her as likely moving toward a “next act” rather than continuing endless peak-era dominance.
- Shaw pushes back, saying her fan connection is still unusually strong and hard to replicate.
Other quick sells mentioned
- Barbie 2: concerns about cost and sequel economics.
- The Beatles movie project(s): dismissed as boomer bait.
- Ellison political backlash: Shaw argues the industry will ultimately do business with Paramount if David Ellison is the one signing checks.
Major “Buy” Picks
Alex Cooper
- Shaw buys the Call Her Daddy host as a long-term personality and media brand.
- He acknowledges problems around her company and business setup, but thinks she has strong audience loyalty and major deal-making power.
- Belloni is more skeptical about her ability to build a wider talent ecosystem or a durable company beyond herself.
Lilia Parsa / Capitol Records
- Shaw highlights Parsa as one of the few women in major-label power positions and points to Capitol’s success with artists like Sienna Spiro and Adele.
- The buy is both business-based and structural: he argues women are being underrepresented in top music leadership.
DreamWorks Animation
- Belloni buys the studio despite a recent flop, betting on a strong upcoming pipeline:
- Shrek 5
- Cocomelon movie
- Nico Bravo
- Donkey spinoff
- Shaw notes the recent release was actually good critically, suggesting the issue was more marketing than quality.
Sundance
- Belloni is bullish on the move to Boulder.
- He says the new location has better venues, more enthusiasm from locals and students, and a chance to reinvent the festival as less elitist and more accessible.
- Shaw agrees the move makes strategic sense, even if the film marketplace around Sundance is still weak.
Universal Music and Warner Music
- Shaw buys the major labels, arguing AI fears are overblown at the top of the market.
- His view: the biggest catalogs and top artists may become more valuable, even if lower-tier creators face disruption.
- He predicts an AI-made song could hit No. 1 someday, but not that the whole top of the industry will be replaced by AI.
Other notable buys
- Johnny Depp: Belloni thinks his comeback potential is real, especially if his new films perform and his star value remains intact.
- Hiro Murai: a high-end creative with a strong track record across TV and film.
- Ashley Padilla: Belloni thinks she’s a future star from SNL.
- Mel Gibson: Belloni thinks the next Jesus-related project could be a major hit.
- The Bachelor franchise: a contrarian buy on a faded but potentially recoverable brand.
- Robert Eggers: a filmmaker with strong upside and ambitious projects ahead.
- Shane Gillis: Belloni thinks he can move beyond stand-up into film/rom-com territory.
- “Infinity Vision”: Belloni likes the Avengers re-release/branding strategy and expects audiences to show up.
Bigger Industry Themes
1. Legacy IP still matters
- The conversation repeatedly returns to franchises and brands that can still move audiences:
- Shrek
- Cocomelon
- Beatles
- Marvel
- World Cup
- The message: known IP still has leverage, but only if the execution matches the brand.
2. Creator economy valuations are under pressure
- MrBeast, Alex Cooper, and Darman all come up as examples of creator businesses that are powerful but hard to value.
- The hosts repeatedly question whether audience fame can be converted into durable enterprise value.
3. AI will hit the bottom of the market first
- Shaw argues AI will most likely disrupt lower-tier music consumption and production first, not instantly replace the top stars.
- He sees record labels as still essential because they control catalogs, relationships, and scale.
4. Theatrical prestige is changing
- Spielberg’s discussion underscores a larger point: the old model of director-as-guaranteed-box-office-draw is weakening.
- Theatrical success now depends more on IP, event status, and marketing than auteur reputation alone.
Audience Q&A and Side Topics
Matthew Rhys
- Asked as a buy, and Belloni agrees.
- The takeaway: Rhys is admired and highly respected, even if he is not a conventional movie star.
Darman Studios
- Belloni is skeptical of the comparison to classic comedy geniuses.
- He thinks the company is good at attention and branding, but not necessarily at producing timeless content.
The New York Times’ best TV list
- The hosts mostly agree the list was solid.
- They briefly debate The Wire vs. Breaking Bad and note the awkwardness of leaving off The Sopranos because of its 1999 premiere date.
Netflix
- Shaw calls Netflix a “hold.”
- His main concern is narrative: they’re profitable and dominant, but seem to need a new story to tell Wall Street and audiences.
Bottom Line
The episode’s core thesis is that Hollywood is in a valuation reset:
- Some legacy power still holds — franchises, catalogs, and a few giant names remain valuable.
- Some stars and creators are peaking — even huge brands like Spielberg, Taylor Swift, and MrBeast face questions about sustainability.
- The future is uneven — AI, streaming, and shifting audience behavior may help the top of the market while squeezing the middle and bottom.
It’s a fast, industry-insider snapshot of who’s rising, who’s fading, and which bets Hollywood insiders think are worth making right now.