What's news: Disney details its billion-dollar coronavirus impact, the rise of TikTok, Trolls World Tour stars look for payday after PVOD shift, ViacomCBS sets an upfront while Disney and WarnerMedia sit them out, was Sundance a petri dish for the virus? CEOs sacrifice base pay but may still see hefty bonuses, NBCUniversal execs take pay cuts. Plus: Chris Pratt lands a TV series at Amazon, Selena Gomez lands a TV series at HBO Max. --Alex Weprin

 THR Innovation Issue

On the cover of THR's Innovation Issue: TikTok boom! How the exploding social media app is going Hollywood. Natalie Jarvey reports that the impossible-to-ignore, 2 billion strong platform is leveraging a massive sheltering-at-home audience hungry for new content to draw A-listers and turn its homegrown roster into bankable stars (with reality TV shows, of course).

Quote: "Fame comes fast and furious on TikTok, which uses a powerful algorithm to excavate someone from anonymity and turn them into an overnight sensation. A year ago, [Charli] D'Amelio had yet to post her first TikTok video. Now, she has the potential to earn millions and a team of agents, managers and lawyers working tirelessly behind the scenes."

"Though the nature of internet virality is that it can disappear as quickly as it arrives, there's evidence to suggest — and a growing faction in Hollywood who are mobilizing to ensure — that TikTok stars like D'Amelio won't be fleeting. 'There's something happening here,' says D'Amelio's agent, Ali Berman, who as co-head of digital talent at UTA has spent the better part of the past decade molding the careers of the internet famous. 'This is definitely a place to discover new talent.'"

+The business model: "The platform doesn't split ad revenue with creators the way YouTube does, but it has introduced a marketplace to help connect its top-tier users with brands. 'We talk to creators every day, and being able to build a business and careers online is something that is important for us to support,' says Kudzi Chikumbu, director of creator community at TikTok. He adds that TikTok is 'definitely exploring' a revenue-share model." The cover story.

Also from the Innovation Issue...

+How One World: Together at Home producers pulled off the star-studded special — under lockdown. NBC's Doug Vaughan, Frame.io's Michael Cioni and Sim's Paul Chapman, among THR's Top Hollywood Innovators, say the benefit featuring Billie Eilish and Lizzo raised $128 million for the COVID-19 Solidarity Response Fund. More.

+A text from Post Malone? New apps are transforming the fan experience. Seth Abramovitch examines how Community's Matthew Peltier and Cameo's Steven Galanis are enabling users to interact with stars. More.



^Disney earnings shine a light on the economic cost of COVID-19. During the fiscal second quarter of 2020, as the pandemic took hold around the world, Disney recorded an estimated $1.4 billion impact on its income from continuing operations. Its Parks, Experiences and Products segment, impacted especially hard by the global shutdown, saw an estimated $1 billion revenue hit.

--Revenues at Disney's other segments increased during the period but each felt an impact. At ESPN, advertising revenue decreased as a result of lower than typical viewership as live sports went off the air. Operating income within the studio group dropped 8 percent as movies like Pixar's Onward left theaters and stage plays stopped. One bright spot was the performance of Disney+, which forged ahead with its rollout in several European countries and India this spring despite the global shutdown. The service now has 54.5 million paid subscribers.

--The company also canceled its dividend. And as bad as the last quarter was, the next quarter should be worse. The story.

+One other bright spot: Shanghai Disneyland, which will open its doors once more on May 11, albeit limited to "well below" 30 percent capacity and with social distancing guidelines. The story.

--Ryan Parker writes that the new rules for Shanghai offer a blueprint for what could come to the U.S. parks. "All guests will be required to pre-purchase admission tickets, no walk-ups. Once in the park, all guests (and employees) must wear a mask except when dining. Guests will also have their temperature checked before entry. Ride queues (wait lines), restaurants and ride vehicles will be structured to promote social distancing, according to the company. Hand sanitizers will be placed at Shanghai queue entries and attraction exits..." The story.

The video game companies, meanwhile, are seeing enormous pandemic-led boosts to their business...

+Electronic Arts saw a bump in total net revenue and net income over its full fiscal year 2020 from 2019, up $5.5 billion and $3 billion, respectively. FY19 numbers in both categories totaled $3.7 billion and $1 billion, respectively. The sharp rise in income was aided by a one-time tax benefit recognized during the fiscal year. Also reported by the video game company on Tuesday were the results for Q4 2020, which saw a year-over-year rise from $1.2 billion to $1.4 billion in total net revenue and an increase from $209 million to $418 million in net income. More.

+Activision Blizzard exceeded its outlook for Q1 2020 as the company posted $1.8 billion in GAAP net revenue in Tuesday's official filing. The figure comes in above the $1.6 billion expectation stated in last quarter's filing in February. More.

In other earnings news...

+Discovery posts better-than-expected earnings, says pandemic hit "key" ad markets abroad. The company said it "pursued a number of cost savings initiatives that it believes will offset a portion of potential revenue losses and deferrals due to the impact of COVID-19" as revenue fell slightly below estimates. The story.

+National CineMedia widens losses as movie theaters keep doors closed. The company recorded a net loss of $3.7 million, or 5 cents per share, against a year-earlier loss of $1.1 million, or 1 cent per share. Revenue for the quarter fell 16 percent to $64.7 million, against a year-earlier $76.9 million, after theater circuits in mid-March began closing their venues, which remain shuttered across the U.S. More.

+Mattel posts revenue miss with first-quarter earnings. The toy maker, led by CEO Ynon Kreiz, also withdrew its 2020 guidance due to uncertainty around the COVID-19 crisis. More.

+Media stocks need streaming growth for earnings lift, Morgan Stanley says. Analyst Benjamin Swinburne forecasts that TV channels facing advertising and cable subscriber losses will succeed by how big a slice of the streaming pie they carve out. More.

 'Trolls' Stars Bank On Big Payday

►NBCU's Trolls play: Stars want pay, but will the studio make any money? Sources tell THR that the Trolls sequel’s top voice stars, including Justin Timberlake and Anna Kendrick, were not informed ahead of the March 16 announcement that the film would be available to rent for $20 online. This is not the sort of surprise such people usually like, and it’s a sensitive matter, because compensation for big stars in animated films is largely tied to box office bonuses. The stars’ reps are now asking for them to be paid, no doubt to the tune of seven figures, but they were still game to publicize the film. The story.

+Disney is watching closely. “We very much believe in the value of the theatrical experience,” Bob Chapek told analysts Tuesday. “But we also believe that either because of changing and evolving consumer dynamics or because of certain situations like COVID, we may have to make some changes to that overall strategy," he added, citing a situation where many theaters remain shut down, or with limited capacity, both of which could impact revenue.

+And speaking of NBCUniversal: Senior leaders there are taking a 20 percent pay cut. NBCUniversal CEO Jeff Shell's executive committee, a group of about a dozen people, will take the salary reduction as part of the company's coronavirus cost-cutting measures. The company also plans to "roll back" salary increases for exempt employees who make more than $100,000 in salary. "For the vast majority of you, this means reversing the recent merit increase that just went into effect in early March," Shell wrote in his memo, which was obtained by THR. The story.

►Was Sundance a "first petri dish" of coronavirus in the States? A swath of attendees suffered harsh flu-like symptoms, leading a microbiologist to question whether the January festival was "the perfect formula to contaminate everybody," Tatiana Siegel reports.

Quote:  "Dean Hart, a microbiologist and expert in virus transmission, says there's a good chance coronavirus did, indeed, sweep through Park City during the run of the festival given that the Wuhan lockdown began Jan. 23, the same day Sundance started. 'Logic dictates that they most probably did have it,' says Hart of the presentation of symptoms. 'With Sundance, you've got the perfect formula for this virus to really go to town and contaminate everybody.'" The story.



►Writers react to agency lawsuit ruling: "It probably didn’t change minds either way." While some scribes are "very conflicted," others are with leadership on advancing litigation to its next stage, Bryn Elise Sandberg and Katie Kilkenny report: "It’s always been about getting rid of the corruption of packaging." The story.

►David Glasser's studio nabs Sports Illustrated film and TV rights for new venture. Glasser's 101 Studios has partnered with Authentic Brands Group to launch Sport Illustrated Studios, which will produce projects based on the legacy publication's 65-year-old archive of work. The studio, which will also have access to future work from the venerable magazine, plans to produce both narrative and non-fiction projects in television and film, across platforms. The first project will be docuseries Covers, which will tell the behind-the-scenes look at the creation of Sports Illustrated's best known covers. The story.

►When will movie theaters reopen? In the U.K., cinema owners are targeting a late June return... In Australia theater owners are hoping to reopen in July tied to Christopher Nolan's Tenet...

►How I'm Living Now: Regina Hall, Black Monday actress. Based in her home in Los Angeles, Hall is keeping busy with a script she's writing with her neighbor while also wondering what film sets will look like when productions resume: "Maybe we'll have to do a movie six feet apart, where we're all just yelling across the room." The interview.

Obituaries: Else Blangsted, the preeminent Hollywood music editor who worked on such landmark films as In Cold Blood, Tootsie, Ordinary People, The Color Purple and On Golden Pond, has died. She was 99... Rosalind Elias, an American mezzo-soprano who created roles in a pair of Samuel Barber world premieres and made her Broadway debut at 81, has died. She was 90...

 Entertainment CEOs 'Sacrifice'

►Hollywood CEOs "sacrifice" base pay, yet keep big bonuses. A slew of top media and entertainment execs pledged to forgo salaries amid cost-cutting efforts, which risks being perceived as a token gesture, Ashley Cullins and Tatiana Siegel report: "Everyone can see how little that is versus what they pull down overall."

Quote: "It's not a good look to complain about running out of caviar on your yacht right after you let 10,000 people go," says Greg Zbylut of business management firm Singer Burke. "By making a sacrifice themselves, they show that they are practicing what they preach and get buy-in from management and staff for belt-tightening policies." The story, and the numbers.

There was no shortage of notable TV news...

►Chris Pratt TV series The Terminal List lands at Amazon. Following a multiple-outlet bidding war, The Terminal List — Pratt's first scripted series regular role following Parks and Recreation — has landed at Amazon with a straight to series order. Taken out to market in February, Pratt stars and exec produces the drama that is based on the Jack Carr novel of the same name. The story.

+HBO Max is moving forward with its dark comedy from the trio behind Broad City and super-producer Mike Schur. The forthcoming streamer has handed out a 10-episode series order and tapped Jean Smart (Watchmen) to star in the untitled series from Broad City's Paul W. Downs, Lucia Aniello and Jen Statsky and exec produced by Schur. More.

+Selena Gomez quarantine cooking show a go at HBO Max. The 10-episode series grew out of Gomez spending much more time in the kitchen during the coronavirus pandemic. But, as HBO Max puts it, "despite her many talents, it remains to be seen if cooking is one of them." More.

+The Right Stuff series moves to Disney+ from Nat Geo. The drama based on Tom Wolfe's book will debut in the fall, helping fill the content pipeline at the streamer. More.

+The Blacklist turns to animation to complete season finale. The episode, titled "The Kazanjian Brothers," was midway through filming in New York when production stopped in mid-March due to the pandemic. The show's producers looked for outside-the-box ways to complete the episode and settled on graphic novel-style animation (as shown above) to be incorporated with scenes that had already been filmed. More.

►ViacomCBS schedules two-day, remote upfront. In a memo to clients and partners Tuesday, chief advertising revenue officer Jo Ann Ross detailed plans for "a series of short virtual presentations" showcasing the company's assets on May 18 and 19. The "ViacomCBS Upfont @ Home" will take place a few days later than what would have been CBS' traditional upfront on May 13. That show at New York's Carnegie Hall, along with all other traditional, in-person gatherings for upfronts week, was called off in March due to the novel coronavirus pandemic. More.

+Disney, WarnerMedia forgo upfronts amid pandemic. In lieu of an upfront presentation, Disney will do what it's calling a "virtual roadshow" — brief, customized presentations for ad agencies and their clients, Rick Porter reports, while WarnerMedia and its ad tech unit Xandr will also speak directly with clients. The story.

►Trump leaves the Fox News universe for bigger ratings. President Donald Trump is seeking a broader national audience and leaving his Fox News comfort zone, granting a taped interview to ABC News anchor David Muir that will air Tuesday night. Trump's announcement on Twitter came before ABC News officially announced the interview. The president called it a "major interview." More.

 A California appeals court has ruled that a trial judge overseeing Quincy Jones' fight for more royalties for his work producing Michael Jackson records didn't adequately interpret contracts. As a result, the superstar producer's $9.4 million win three years ago has been reversed. More.



^Jeff Goldblum, Dr. Phil and the clumsy art of celebrity contrition. After saying something dangerous or ignorant, public figures tend to double down or give snarky non-apologies. THR columnist Kareem Abdul-Jabbar offers them some advice. The column.

►Critics' picks: 10 highlights from SXSW and Tribeca Online. Standouts include a doc about Johnny Cash’s first wife and another about gay conversion therapy, as well as a drama starring 'Unorthodox' breakout Shira Haas. Here's the list.

Revolving door: Anthony and Joe Russo, have hired a new CEO for their artist-led banner, AGBO. Jason Bergsman, a founding partner and executive vp at The Chernin Group, will lead the company... Glenda Hersh and Steven Weinstock are staying put at Truly Original, renewing their deals to stay on as co-presidents and co-CEOs of the Endemol Shine North America-owned production company...

 How a fire-scarred restaurant used crisis experience to relaunch amid the pandemic. Former Paramount Pictures vice chairman Rob Moore talks to THR about joining Wabi on Rose as a lead investor and business partner and how the staff adapted to bring back the Venice, California staple amid COVID-19. More.

►TV review: Inkoo Kang reviews season two of Netflix's Dead To Me, writing that "other than the Orange County real-estate porn and Judy's endless parade of flowy designer dresses (that the character couldn't afford), the performances are the only real reason to tune into this unnecessary sequel of a season." The review.

►TV ratings: The first remotely produced episode of The Voice recorded season-low ratings for the NBC singing competition on Monday. An episode of CBS' drama All Rise produced in a similar manner was also down a little vs. last week but more in line with its season averages. The numbers.

►Awards Chatter podcast: On the 25th anniversary of her blockbuster debut album, the Grammy-nominated singer-songwriter Jewel reflects on teenage homelessness, sudden success and the mindfulness techniques that helped her through thick and thin. Listen.

In other news...

--Coming out on top of a competitive situation, Paramount has picked up 2084, an original spec script from Mattson Tomlin, the co-writer of The Batman.

--HBO Max has picked up the 2020 Sundance award winner Charm City Kings from Sony Pictures.

--Louis Leterrier is in talks to direct the sequel to Netflix's Bright.

--Discovery Channel has set a lineup of special programming around COVID-19 that will feature network talent including the stars of Gold Rush and Deadliest Catch, Josh Gates, Mike Rowe and more.

--Steven Spielberg’s production company Amblin Partners has renewed its output deal with Nordisk Film, giving the group exclusive rights to upcoming Amblin features across Scandinavia for a further two years.

--Momentum Pictures has acquired the U.S. rights to suspense thriller Black Bear, starring Aubrey Plaza.

--Barack and Michelle Obama to headline YouTube's Dear Class of 2020 graduation event.

--Steve Carell plays a general who wants to send astronauts back to the moon in the first trailer for Netflix's comedy Space Force — but first, he needs to make a stop in "Kokomo."

What else we're reading...

--"Netflix won’t share crucial data, so TV producers are piecing it together themselves" [Bloomberg]

--"The post-disaster artist" [Polygon]

--"National Enquirer publisher AMI begs Trump administration for seven-figure handout" [The Daily Beast]

--"AT&T had talks about selling Crunchyroll" [The Information]

--"Tony Soprano is alive and well in this new Sopranos coronavirus scene" [Vulture]

Today's birthdays: Archie Mountbatten-Windsor, 1, George Clooney, 59, Bob Seger, 75, Tom Bergeron, 65, Gabourey Sidibe, 37.