Entertainment Sector

Entertainment industry loses Rs 22,400 cr due to piracy in 2023: EY-IAMAI

The Indian entertainment industry suffered a staggering loss of Rs 22,400 crore in 2023 due to piracy, according to a report released on Wednesday, that advocated for stronger regulations and collaborative efforts to effectively mitigate piracy risks. According to "The Rob Report" by EY and the Internet and Mobile Association of India (IAMAI), 51 per cent of media consumers in India access content from pirated sources, with streaming services being the most significant contributor at 63 per cent. "The size of India's piracy economy was Rs 22,400 crore in 2023, ranking fourth against the segment-wise revenue generated by India's Media and Entertainment industry. "Of this, Rs 13,700 crore was generated from pirated content from movie theatres while Rs 8,700 crore was generated from OTT platforms' content. The potential GST losses of up to Rs 4,300 crore were estimated to have been incurred," it said. Piracy refers to the unauthorized copying, distribution, or use of copyrighted ...

Disney to announce next CEO in early 2026, names James Gorman as new chair

The Walt Disney Co. is tapping Morgan Stanley executive James Gorman to serve as its next chairman, beginning early next year. The entertainment giant also announced that it anticipates naming its new CEO in early 2026. Gorman will become chairman on January 2, 2025. He will succeed Mark Parker, who is leaving after serving on Disney's board for nine years. Gorman is currently chair of Disney's succession planning committee. He serves as executive chairman at Morgan Stanley, but will be stepping down from that post at the end of the year. The Disney Board has benefited tremendously from James Gorman's expertise and guidance, and we are lucky to have him as our next Chairman particularly as the Board continues to move forward with the succession process, Disney CEO Bob Iger said in a statement on Monday.

Netflix picks up 5.1 million subscribers in Q3 as ad-tier signups grow

Streaming giant said that its ad-supported service accounted for more than 50 per cent of signups in the third quarter in countries where it was available

Liam Payne, former One Direction member, dies at 31 in Argentina hotel fall

Former One Direction singer Liam Payne, 31, whose chart-topping British boy band generated a global following of swooning fans, was found dead Wednesday after falling from a hotel balcony in Buenos Aires, local officials said. Buenos Aires police said in a statement that Payne fell from the third floor of the Casa Sur Hotel in the trendy Palermo neighborhood of Argentina's capital, resulting in extremely serious injuries. Medics confirmed his death on the spot, the statement said. Pablo Policicchio, the communications director for the Buenos Aires Security Ministry, said in a statement to The Associated Press that Payne had jumped from the balcony of his room. Police rushed to the hotel in response to an emergency call just after 5 pm local time, he said, warning of an aggressive man who could be under the influence of drugs or alcohol. The hotel manager can be heard on a 911 call obtained by the AP saying they had "a guest who is overwhelmed with drugs and alcohol ... He's destroy

Apple-Bharti Airtel sign deal, streaming svcs rise in content hungry India

Apple signed a content deal with Indian telecoms operator Bharti Airtel late in its push for a larger slice of the country's $28 billion entertainment market

'I tell filmmakers that if you can dream it (storytelling), we can do it'

The DNA of the business is closely tied to the filmmaker's vision, said Namit Malhotra, founder Prime Focus and CEO DNEG

In new zone: Gaming zones evolve into high-tech family entertainment spaces

Gaming is one of the fastest-growing segments of the Indian media and entertainment sector

Disney, Florida Governor end feud with deal on 15-year expansion plan

Under the agreement with the Central Florida Tourism Oversight District, Disney said it would spend at least $8 billion at the resort over a decade with a total of $17 billion invested over 10-20 year

Disney's surprise streaming entertainment profit offset by weaker TV biz

Revenue from traditional television business declined 8% to $2.77 billion and operating profit fell 22% from a year ago

More than 157 million Indians bought 943 million movie tickets in 2023

Theatre-going population in India on the rise, says Ormax data

The entertainment consumption story

The poor rates of growth and the fact that a large chunk of poor urban and rural India is switching to free TV are indicative of something

Wealth management, entertainment, health spends grow in FY24: Razorpay

Spending on dieticians has more than doubled during the same time, while health coaching recorded a 45 per cent increase in transactions

Disney shareholders back CEO Robert Iger, rebuff activist shareholders

Disney shareholders rallied behind longtime CEO Robert Iger, voting Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney chief financial officer Jay Rasulo, who had sought seats on the company's board. The company had recommended a slate of directors that did not include Peltz or Rasulo. The dissident shareholders had said in a preliminary proxy filing that they wanted to complete a successful CEO succession at Disney and align management pay with performance. Disney announced in November 2022 that Bob Iger would come back to the company as its CEO to replace his hand-picked successor, Bob Chapek, whose two-year tenure had been marked by clashes, missteps and weakening financial performance. Iger was Disney's public face for 15 years as chief executive before handing the job off to Chapek in 2020, a stretch in which Iger compiled a string of victories lauded in the entertainment industry and by Disney fans. But his second run at the job has not won him ...

Statsguru: M&E sector resilient despite growing at slower pace than economy

Growth is expected to reach double-digit levels in the next few years

PM Modi presents 'Most Creative Creator' award to Shraddha, RJ Raunac

PM Modi also presented the Heritage Fashion Icon Award to Jahnvi Singh and the Best Creator in Food Category Award to Kabita Singh (Kabita's Kitchen) at Bharat Mandapam

PM to present first ever National Creators Award at Bharat Mandapam today

The award will be provided across twenty categories including the Best Storyteller Award; The Disruptor of the Year; Celebrity Creator of the Year; Green Champion Award, among others

Disney, RIL sign binding pact to merge media operations in India: Report

Disney owns a minority stake in broadcast service provider, Tata Play Ltd., which Reliance may consider acquiring, according to local news reports

Entertainment leasing nearly triples in last one year in India: CBRE

Malls witnessed higher footfall, and this translated into increased visitors to other entertainment zones like gaming arcades, clubs, etc

Zee asks Sony Group to withdraw termination of $10 billion merger plan

The company has also approached the National Company Law Tribunal seeking directions to implement the merger, Zee added

'Oppenheimer', 'Poor Things' lead race for Britain's Bafta film awards

Atom-bomb epic Oppenheimer leads the race for the British Academy Film Awards, with nominations in 13 categories including best film. Gothic fantasia Poor Things received 11 nominations on the list announced Thursday, while historical epic Killers of the Flower Moon and Holocaust drama The Zone of Interest had nine each. Other leading contenders include French courtroom drama Anatomy of a Fall school story The Holdovers and Leonard Bernstein biopic Maestro with seven nominations each. Exploration of love and grief All of Us Strangers was nominated in six categories and class-war dramedy Saltburn in five. Barbie, one half of 2023's Barbenheimer box office juggernaut, also got five nominations but missed out on a best picture nod. The winners will be announced at a February 18 ceremony at London's Royal Festival Hall hosted by Doctor Who star David Tennant. The prizes officially the EE BAFTA Film Awards are Britain's equivalent of Hollywood's Academy Awards and will be watched clo