Fortune vs The Hollywood Reporter

Temu's $962M Fake Influencer Network Unravels

A investigation by Online Risk Labs, a Czech research group, revealed that Temu, the Chinese e-commerce platform, spent approximately €830 million ($962 million) on partnership ads on Instagram and Facebook over a 16-month period, largely through fake creator accounts. Of the top 100 influencer partners, 73 were likely not genuine, with many based in Russia and China. After Fortune reported the findings, Temu shut down most of the network within days, halving the volume of such ads. The practice may violate EU and UK rules on misleading advertising and AI content labeling. Meta also faces pressure for running the ads. The European Commission is already examining Temu under the Digital Services Act.

• Temu spent €830 million ($962 million) on partnership ads on Meta platforms over 16 months.
• 73 of the top 100 creator accounts were likely fake, according to Online Risk Labs.
• The fake influencer network ran over 1.4 million campaigns with 17 billion impressions.

Semafor Redefines Head of Video Role

Semafor has appointed Adam Banicki as its new head of video, a role that now spans both editorial and commercial operations. Banicki reports to co-founder and editor-in-chief Ben Smith, with a dotted line to chief commercial officer Rachel Oppenheim. His responsibilities include developing video programming ideas with the newsroom and collaborating with the commercial team on go-to-market strategy, pricing, and closing video-related deals. Semafor plans to launch a new tech-focused show in October, hosted by tech editor Reed Albergotti, bringing its portfolio to four shows, with a daily news show in development. Banicki emphasizes collaboration between the newsroom and sales team to ensure commercial interests do not dictate editorial content. He previously held a similar role at Fortune, where he was general manager of video. The appointment reflects a broader industry trend of integrating video leadership across editorial and business functions.

• Semafor appointed Adam Banicki as head of video, a role spanning editorial and commercial operations.
• Banicki reports to co-founder and editor-in-chief Ben Smith, with a dotted line to chief commercial officer Rachel Oppenheim.
• Semafor will launch a new tech-focused show in October, hosted by Reed Albergotti, bringing its portfolio to four shows.

OpenAI CEO Says IPO in 2026 Ill-Advised

OpenAI will not go public in 2026, according to CEO Sam Altman. In an interview, he cited the intense debate over AI safety risks and the need to stabilize growth and cost structure before facing public markets. The decision follows OpenAI's confidential IPO filing with the SEC in June. The company is valued at over $852 billion, having raised $122 billion in March 2026 and $7 billion in an employee stock sale in August. Despite strong revenue growth to an annualized $40 billion, profitability remains elusive, and OpenAI invested about $50 billion in computing power in 2026. Competitor Anthropic, valued at $965 billion, is also preparing an IPO. OpenAI's unique governance structure adds complexity. A listing is now likely only in 2027 or later.

• OpenAI CEO Sam Altman confirmed the company will not go public in 2026, citing safety concerns and business readiness.
• OpenAI has filed confidentially for an IPO with the SEC.
• OpenAI was valued at approximately $852 billion in a March 2026 funding round, having raised $122 billion.

Done Deal: Paramount Completes Warner Bros. Takeover, Creating Hollywood Giant

Paramount has completed its acquisition of Warner Bros., creating a new Hollywood giant. The deal was announced as a breaking news item on The Hollywood Reporter's news page.

Universal Presells Nolan's Odyssey Year-Early

Josh Stein argues that Universal’s decision to sell IMAX 70mm tickets for Christopher Nolan’s The Odyssey at midnight on July 17, 2025 — for screenings starting July 17, 2026 — represented a first for a major studio: collecting paying demand 12 months before a film existed. Roughly 25 IMAX 70mm locations were offered, 95% of seats sold within an hour, and about $1.5 million was collected from that small pool. Stein ties the event to a broader shift: counted, presold demand (from creators and auteur brands) can become a financeable asset, changing greenlight underwriting and capital-stack pricing. He cites parallel creator-market examples (A24’s Backrooms, Focus’s Obsession, Markiplier’s Iron Lung) and notes industry reactions including box-office results and major corporate deals and disclosure choices that reflect the value of measured demand.

• On July 17, 2025 (midnight Eastern), Universal put IMAX 70mm tickets on sale for Christopher Nolan’s The Odyssey, for show dates beginning July 17, 2026.
• 95% of the available IMAX 70mm seats sold within an hour, producing roughly $1.5 million in gross from the deliberately small pool of about 25 locations.
• The Odyssey had a reported $250 million net production budget; its opening weekend later ran to $264.1 million worldwide, per Variety and Reuters.