The U.S. economy added 187,000 jobs in July, slightly less than expectations, while the unemployment rate dropped to 3.5%.
18.07.2023 - 08:51 / variety.com
Naman Ramachandran India’s media and entertainment industry is expected to reach $73.6 billion by 2027 with a compound annual growth rate (CAGR) of 9.48%, says consultancy firm PwC’s “Global Entertainment & Media Outlook 2023-2027” report. In terms of growth percentage, streaming leads the way with revenue surging 25% in 2022 to reach $1.8 billion. The market will continue to grow at 14% CAGR to produce revenue of $3.5 billion in 2027. This will be driven by the competitive SVOD sector, which accounted for 78% of sector revenue in 2022, the report says, adding that while subscription service revenues will expand at 13% CAGR to reach $2.6 billion, ad-supported services (AVOD) will grow at a higher rate, albeit from a lower base.
Cinema, which touched a low of $402 million in 2021 during the pandemic, recovered to $1.1 billion in 2022 and is projected to grow 15% to reach $2.3 billion by 2027. Admissions recovered from 379 million in 2021 to 986 million in 2022 and are expected to reach 1.4 billion by 2027. In terms of segment size, TV advertising remains the leader. it recovered from the pandemic downturn, with revenue expanding 19% in 2021 and 12% in 2022 to reach $4.7 billion. The report projects TV ad spend growth at 6.4% CAGR to reach $6.5 billion in 2027, making India the fourth-largest TV advertising market globally after the U.S., Japan and China. In the video games and e-sports sector, India is the second-fastest-growing video games market in the world behind Pakistan. Revenue in the sector was $1.7 billion in 2022 and is expected to grow 19% CAGR to reach $4.2 billion by 2027. In the internet advertising sector, a 12% CAGR is projected to see revenue climb from $4.4 billion in 2022 to $7.9 billion by 2027.
The U.S. economy added 187,000 jobs in July, slightly less than expectations, while the unemployment rate dropped to 3.5%.
Mobile phone provider VOXI has launched an unmissable triple data deal giving customers 60GB of data for the price of its usual 20GB plan, all for £12 a month.
Ron Sexton, a comedian best known as the voice of Donnie Baker on the long-running syndicated radio series The Bob & Tom Show, died Friday in Ohio while on tour with his stand-up comedy show, according to posts from his family and the show’s stars. He was 52.
French lawmakers are proposing new legislation aimed at protecting media independence amid growing concerns over big business interference and politicization in the sector in France.
As the home of the Curry Mile, Manchester has long been known for its wide choice of Indian and South Asian restaurants. While the not-quite-a-mile strip of restaurants on Rusholme’s Wilmslow Road now tends towards more Middle Eastern cuisine, there are still plenty of gems to be found there like Mughli and Sanam - the oldest on the whole stretch.
Watch Below: Chris Gayle flirts with reporter Mel McLaughlin“It’s just such a massive thing and it makes you just want to do the best job that you can, I’m obviously nervous,” the sports presenter, who will play a leading role in Seven’s coverage of the tournament, tells WHO. “But it’s also just unbelievably exciting.” Despite her nerves, this definitely isn’t the 43-year-old’s first rodeo.
EXCLUSIVE: Oscar-winning Breakwater Studios, a leading maker of premium short documentaries, has promoted Nana Adwoa Frimpong to Executive Media and Communications Director and Chief of Staff.
Naman Ramachandran India is on track to be the international production hub for global reality formats “Survivor” and “Temptation Island,” Banijay Asia CEO Deepak Dhar has confirmed. Dhar had revealed nascent plans for this late last year to Variety and they are now well into fruition. “Survivor” has had more than 50 international versions and “Temptation Island” more than 20. “Significant progress has happened in the last six to seven months in setting up the runway to really pave a lot of productions to happen in India, both reality and scripted. Reality is something that we’ve been pushing, because of the might of our Banijay Group catalog formats – shows like ‘Survivor’ and ‘Temptation Island.’ We are on the verge of setting up a ‘Temptation Island’ hub and ‘Survivor’ hub and a whole lot of the Banijay Group companies would come film here,” Dhar told Variety.
Stuart Miller NBA stars Blake Griffin, Russell Westbrook, Jaylen Brown and NCAA standout Angel Reese would make a great group of starters on the court. But when the quartet gathers in Los Angeles on July 13, they won’t be shooting hoops — they’ll be talking about the shifting landscape of athletics and media at Variety’s Sports and Entertainment Summit. Alongside fellow athletes like Olympic snowboarder Scotty James and UCLA quarterback Chase Griffin, the summit lineup also includes executives including Rosalyn Durant, exec VP and head of programming and acquisitions at ESPN; Jon Cruz, global head of sports partnerships at YouTube; and Karin Timpone, CMO at MLB. They’ll discuss everything from game programming and coverage to personalizing immersive experiences for viewers.
Sun Valley, a sleepy ski resort nestled between Idaho’s mountain peaks, is about to see an invasion of Gulfstreams ferrying an embattled species of mogul. These media and tech CEOs are facing threats on several fronts — from labor strikes to plunging share prices to a possible recession. So they’re likely in need of some R&R when they hit Allen & Co.’s annual conference this week. The cloistered event is an off-the-record affair, with reporters cordoned off from the captains of industry. But it remains closely watched, having been the setting for major mergers and acquisitions over the years, from Comcast’s purchase of NBCUniversal to Disney’s deal for ABC. Here’s what’s on the minds of the C-suite set as they embark on their high-altitude retreat.
Allen & Co.’s annual Sun Valley Conference is known for drawing an A-list roster of execs from across the media and tech realms, with a generous sprinkling of sports commissioners, politicos and other notables added to the mix.
No matter Harrison Ford’s age, he’s still outrunning boulders and cracking his whip.
Zack Sharf Digital News Director A July 2000 clip from “Late Night with Conan O’Brien” has gone viral on social media for featuring the eponymous late night host making a joke to Harrison Ford about the actor playing Indiana Jones when he’s 80 years old. That panned out to be somewhat true in the recently-released “Indiana Jones and the Dial of Destiny,” which opened in theaters just a few weeks before Ford turns 81 years old. “People will never get tired of that genre,” O’Brien told Ford at the time. “When you’re 80 you could just do ones where they bring the treasures to you.” Ford burst into laughter, with O’Brien adding that an “Indiana Jones” movie starring an 80-year-old Harrison Ford could be titled, “Indiana Jones and the Comfortable Bed.”
William Earl Stage 32, the social network designed to support TV and film professionals in more than 185 countries, has reached the milestone of 1 million members as the company expands its offerings. The service was founded in 2011 by Richard “RB” Botto, an actor, producer and screenwriter. The platform features global job boards and 3,000 hours of webinars, classes and labs to support a wide range of entertainment industry careers, including above- and below-the-line disciplines. Among the top markets for Stage 32 are the U.S., Canada, the U.K., France, South Africa, India, Saudi Arabia, Germany, the Netherlands and Australia. The price of the service ranges depending on the level and duration of access. A one-year subscription to its Writers Room plan, offering a database of open film and TV writing jobs, costs about $350.
“Indiana Jones and the Dial of Destiny” made a disappointing debut at the box office.
J. Kim Murphy “Indiana Jones and the Dial of Destiny” is staying in line with some tempered box office expectations, still tracking to fall in line with estimates that had pegged the film with an opening between $80 million and $85 million through the Fourth of July holiday. The Harrison Ford finale earned $11.8 million on Monday, pushing its domestic total to $71 million. Unlike some other holidays, Independence Day isn’t exactly the largest box office booster — with families hitting the beach, barbecuing red meat and waiting for fireworks, filmgoing isn’t exactly at the top of the agenda for most Americans. Rather, it’s the time off around the Fourth that can offer some extra lift to studio tentpoles.
Naman Ramachandran Disney’s “Indiana Jones and the Dial of Destiny” debuted atop the U.K. and Ireland box office with £7.1 million ($9 million), according to numbers released by Comscore. The release marked the fifth biggest opening weekend for a film in 2023 in the territory, including previews, with a market share of 43%. In its fifth weekend, Sony’s “Spider-Man: Across the Spider-Verse” racked up a further £1.5 million in second place, taking its total to £25.9 million. Universal’s “Ruby Gillman, Teenage Kraken” debuted in third position with £885,056. In its sixth weekend, Disney’s “The Little Mermaid” earned £837,859 in fourth place for a total of £25 million.
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Refresh for latest…: Disney/Lucasfilm’s Indiana Jones and the Dial of Destiny is off to a disappointing start with a $130M global opening. Of that, $70M is from 52 international box office markets as the the fifth installment in the beloved 42-year-old franchise came in below projections.
Rebecca Rubin Film and Media Reporter Disney’s “Indiana Jones and the Dial of Destiny” lassoed the top spot on domestic box office charts, collecting an underwhelming $60 million in its opening weekend. That’s a decent amount of money for a tentpole that’s aimed at older audiences, but “Indiana Jones 5,” one of the most expensive movies ever, cost $295 million before marketing. It’ll take a heroic feat, one that would test even an enduring legend like Indiana Jones, for the fifth installment in the decades-old franchise to become profitable in its theatrical run. It was a disappointing weekend at the box office as “Ruby Gillman, Teenage Kraken,” a $70 million-budgeted family film from DreamWorks and Universal, cratered in its sixth-place debut with $5.2 million. In addition to “Dial of Destiny” and “Ruby Gillman,” the DC superhero adventure “The Flash” tumbled to the No. 8 spot in its third weekend of release with $5 million, another embarrassing 67% drop. It has yet to cross $100 million domestically, with ticket sales at $99.2 million to date.