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Pabst and MillerCoors Settle
As jurors were reaching the end of their first full day of deliberations in Pabst Brewing Co.'s contract case against MillerCoors, the two beer-makers told the judge they had agreed to a settlement. Terms were not immediately available, but Pabst's CEO had testified that if MillerCoors didn't agree to extend its current contract to make Pabst's beers, it might go out of business.
"The parties have amicably resolved all outstanding issues in the case,” says a Pabst spokesman. “Pabst will continue to offer Pabst Blue Ribbon and the rest of our authentic, great tasting, and affordable brews to all Americans for many, many years to come.”
Streaming Is Expected to Grow
Data provided in a report by PricewaterhouseCoopers shows that US streaming video services are estimated to have generated $20.1 billion in revenue last year on 15.2 percent growth. It is projected that the US market will cross the $30-billion mark by 2022 with an annual growth rate of approximately 8.8 percent. This market is currently dominated by subscription-based and video-on-demand business models. Streaming companies are part of the larger entertainment industry and are expected to play a much more significant role in the years to come. Besides popular streaming services like Netflix and Hulu, social media giants like Facebook have also announced plans to try and capitalize on streaming with original content of its own.
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