Media Industry Growth

For the film exhibition business, the June quarter was also sub-par due to the impact of both the cricket and election season as well as a lack of big-budget content

Krafton-backed social app FanTV aims to double its user base to over 1 crore and grow content creators on the platform by about five-fold to 1 lakh in the next 12-18 months, a top company official said on Wednesday. The company also entered into a strategic partnership with blockchain company Mysten Labs to drive mass adoption of Web3 technology. "Through our collaboration with Mysten Labs, we are committed to driving innovation and democratising the content creation ecosystem. "Our goal is to onboard over 1,00,000 creators and 10 million users, ushering in a new era of decentralised social media in the next 12-18 months," FanTV Founder and CEO Prashan Agarwal said in a statement. At present, FanTV claims to have over 40 lakh users and more than 20,000 creators. Earlier, the company raised USD 5.5 million, about Rs 45 crore, from Multicoin Capital, Krafton, IOSG Ventures, and Woodstock Fund.

The job reductions include some of the most storied names in the business. Time magazine cut 15% of its staff. Conde Nast, publisher of Vogue and the New Yorker, has let go 5%

Media & entertainment has done very well in the physical world. It is the virtual one that is in trouble

Second forecast after GroupM's to project double-digit advertising growth; digital biggest advertising category

The country's media and entertainment (ME) sector will be the fastest growing globally in terms of both consumer and advertising spends

The post-pandemic list tells just one story - that of utter devastation

As the big boys of media push for consolidation, scale is emerging as the killer app

With strong growth of 11-12 per cent over the next five years, the industry is poised to add 700,000-800,000 new jobs in the country