Reuters Entertainment News Summary

Hybe said it acquired Exile Music, is setting up a Latin America unit for artist management and talent discovery, and considering incorporating the K-pop business methodology typified by lengthy, competitive artist training and development to the Latin genre in the long-term. Hollywood actors win streaming bonuses under new contract Streaming services will pay bonuses of roughly $40 million per year as part of the tentative labor agreement reached between the SAG-AFTRA actors union and major Hollywood studios, union leaders said on Friday after their board backed the deal.

Following is a summary of current entertainment news briefs.

Post-strike Hollywood rushes to get film, TV sets humming

Hours before the Hollywood actors’ strike officially ended, Beth Goodnight’s phone began ringing with opportunity. The head of a Hollywood construction company and prop shop that bears her name dispatched two project managers to begin bidding for work. By the end of Wednesday, they had crunched numbers on seven projects, including a Super Bowl commercial, a television show, a large event and smaller pieces that add up to hundreds of thousands of dollars.

K-Pop's Hybe, behind BTS, acquires Latin music label

South Korea's largest music label Hybe Co, behind K-Pop supergroup BTS, said on Monday it acquired the music label of Spanish-language media company Exile Content in its first major foray into the Latin music market. Hybe said it acquired Exile Music, is setting up a Latin America unit for artist management and talent discovery, and considering incorporating the K-pop business methodology typified by lengthy, competitive artist training and development to the Latin genre in the long-term.

Hollywood actors win streaming bonuses under new contract

Streaming services will pay bonuses of roughly $40 million per year as part of the tentative labor agreement reached between the SAG-AFTRA actors union and major Hollywood studios, union leaders said on Friday after their board backed the deal. The proposed three-year contract, which the union said was valued at more than $1 billion over three years, was endorsed by 86% of SAG-AFTRA's national board.