Entertainment
Sony Pictures Networks India elevates Ritesh Khosla to General Counsel
Sony Pictures Networks India named Ritesh Khosla as its new General Counsel from September 1, following Ashok Nambissan's retirement. Khosla, previously Deputy General Counsel, brings over two decades of legal experience. He will manage the company's legal affairs, compliance, corporate governance, and CSR initiatives while enhancing its legal framework internationally.
Viacom18, Star India expect to complete merger by October
Viacom18 and Star India plan to finalize their merger by October after securing approval from the Competition Commission of India (CCI). Already sanctioned by creditors and shareholders, CCI's detailed market assessment will determine the merger's competitive impact. The combined entity will dominate both TV and streaming, holding substantial sports rights.
Virat Kohli tops Celebrity Brand Valuation in 2023; Ranveer Singh second, SRK third
Cricketer Virat Kohli has reclaimed the top spot to become India's most valued celebrity, boasting a brand value of $227.9 million in 2023. However, this value still falls short of his peak brand value of $237.7 million in 2020, as reported by Kroll's Celebrity Brand Valuation Report 2023.
Majority of Gen Zs consider themselves as content creators: YouTube report
YouTube India's culture and trends report revealed that 83% of Gen Zs are creators, indicating a shift towards democratisation of content creation in India. 91% of Gen Z fans engaged in fan-related activities. The report highlighted that 93% of Gen Z fans use YouTube weekly to consume content about their fandoms, while also emphasising the platform's efforts to empower creators and fans through features like Super Chats and Channel Memberships.
Discussions on 8-week consistent theatrical window positive, says PVR Inox MD
Cinema exhibitors and film producers are exploring a unified eight-week theatrical window for both north and south India, with discussions also considering further extensions to safeguard box office revenues, according to PVR Inox MD Ajay Bijli.
Discussions on 8-week consistent theatrical window positive, says PVR Inox MD
Cinema exhibitors and film producers in India are in discussions to standardize a consistent eight-week theatrical window across both north and south India. They are also considering extending this period to safeguard box office revenues. This development was revealed by PVR Inox MD Ajay Bijli during the company's Q1 earnings call.
Prime Video launches new streaming features to enhance user experience
Prime Video has introduced generative AI-powered personalized recommendations to enhance user experience globally. Launched on July 23, these updates will become available to all customers over the coming weeks. The aim is to help viewers discover new titles, manage subscriptions, and switch add-on subscriptions seamlessly through a single login.
India's video entertainment ecosystem to touch $13 billion revenue by 2028: MPA
The video entertainment economy is projected to grow 8% annually on average, reaching $13 billion by 2028, according to a Media Partners Asia report. This growth is driven primarily by streaming video on demand (VOD), which is expected to account for half of the new revenue growth.
Sushant Sreeram quits Prime Video, set to join JioCinema
Sreeram was promoted to the position of country director in February 2023 following Gaurav Gandhi's elevation as Vice President of Asia Pacific at Prime Video effective April. Sreeram joined Prime Video in 2018 as Head of Customer and Brand Marketing and was subsequently promoted to Director of Marketing in October 2020. In 2022, he was elevated to Director of Subscription Video on Demand (SVOD) Business.
Regional OTT platforms seek fresh funds to scale up content offerings
Regional OTT platforms like Stage and Chaupal are raising capital due to plateauing growth. Stage raised ₹40 crore from Blume Ventures and Planet Marathi $5 million. The FICCI-EY report shows regional content exceeds Hindi. Akshay Bardapurkar and global diasporic audiences drive expansion. Vinay Singhal notes internet and UPI boost regional platforms.
Cinema houses, OTTs wary as Karnataka govt levies 2% cess
The Karnataka government has decided to impose a 2% cess on movie tickets and over-the-top (OTT) subscriptions. This move is expected to result in increased costs for cinema chains and OTT platforms, who will likely pass on the additional charges to consumers.
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Zee board okays Rs 1,997 cr raise via convertible debt
On conversion of FCCBs to equity, Zee will issue 1,240 million fully diluted equity shares of ₹1 each to the FCCB holders at the conversion price of ₹160.20 per equity share. The date of issuance of FCCBs was July 16, and the floor price was ₹152.45 per share. The dollar-to-rupee conversion rate has been fixed at ₹83.5658 per US dollar.
OTTs bet big on international shows to add variety to original content
Over-the-top (OTT) platforms are investing in international content to expand their original content offerings amid audience fragmentation. Disney+ Hotstar has successfully adapted international titles like The Night Manager, Criminal Justice, Aarya, and Bad Cop. JioCinema has launched reality shows like Temptation Island and Bigg Boss OTT, while SonyLIV has adapted Israeli shows like Your Honour and Fauda for the Indian market.
GTPL Hathway lines up ₹100 cr to expand its HITS service
The company, which received a HITS licence from the Ministry of Information and Broadcasting (MIB) on Friday, will undertake its future subscriber expansion through HITS, the official added, requesting anonymity.
India to host first global summit for media and entertainment sector in November
India hosts the World Audio Visual and Entertainment Summit (WAVES) in Goa from November 20-24, alongside the International Film Festival of India (Nov 20-28). Announced by I&B Minister Vaishnaw and CM Sawant, it aims to improve IP rights, industry collaboration, and networking in the USD 27.5 billion media sector.
Meghalaya government launches its own OTT platform Hello Meghalaya
Meghalaya becomes the first State to launch an OTT platform that monetizes youth passion. To cater for the huge youth population base, Government of Meghalaya introduced Hello Meghalaya OTT platform that intends to engage them in productive activities and enable economic growth.
