Movie theater giants may be on top of the world right now … but they are also staring off a cliff. It’s been a blockbuster few months for, well, blockbusters, and films like Top Gun: Maverick and Minions: The Rise of Gru proved that groups that may have been wary of returning to theaters (older moviegoers and young families) are willing to go back for the right film.
There is a high likelihood of near-term weakness for exhibitors as Hindi content remains below par, though regional and Hollywood films continue to show strong performance.
Meta has been hit with a copyright infringement lawsuit demanding at least $142 million in damages. Epidemic Sound, a company that provides royalty-free music to YouTubers and other creators, claims that Meta hosts 94% of Epidemic's music in its own library, none of it licensed. According to Epidemic, this has resulted in billions of illegal views across Facebook and Instagram.
Canada-based production company Format Factory is the first global studio to avail the incentive scheme for the audio-visual co-production & shooting of foreign films in India in record time. The scheme was announced by union minister of information and broadcasting Anurag Thakur in May 2022 during his visit at the 75th Cannes film festival.
The government had blocked 20 YouTube channels and two websites in December when emergency powers under the IT Rules, 2021, were first utilised to act against anti-India fake news networks
An industry group called Asia Internet Coalition (AIC) representing US-based Big Tech firms have urged India's Ministry of Electronics and Information Technology (MeitY) to make changes in the proposed amendments to the country's new IT Rules, 2021 which would "negate the government's commitment to ease of doing business".
As the streaming giant embraces advertising and stabilizes its content spend at $17 billion annually, financial observers' reactions range from relief at beating low expectations to an outlier call to sell the company entirely.
The panel said the Central Board of Direct Taxes (CBDT) should keep a constant watch over the rising number of high-risk assesses' cases in new and emerging segments of the entertainment sector -- augmented and virtual reality, social videos, cloud gaming, and podcasting
Instagram, TikTok and YouTube are now the preferred mode of news consumption for British teenagers, a report by U.K. media regulator Ofcom has found.
Summer blockbusters and streaming hits could obscure the economic pain of entertainment giants facing the rest of the year amid an advertising pullback, inflation drag and supply chain issues.