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India’s Bollywood the latest victim of streaming wars?

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2 years ago

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India’s Bollywood film industry has entertained billions of people – but for how much longer?

The industry is facing its biggest-ever crisis as the competition heats up in the streaming war

The South Asian giant churns out almost 2,000 films each year.

Cinemas have fallen quiet, even in Bollywood’s nerve centre of Mumbai, with box-office receipts plunging.

Bollywood is also hurt by the rise of streaming.

Around half of India’s population has access to the internet and streaming services, including international players such as Netflix, Amazon Prime and Disney+ Hotstar have 96 million subscriptions.

Movie-goers told AFP that many Bollywood films were simply not good enough.

But streaming isn’t the only rival – Telugu-language aka Tollywood movies, which is a south Indian competitor to Hindi-language Bollywood, have soared to the top.

“Bollywood, after decades of storytelling… seems to be at an inflection point unlike any other disruption it has faced before,”

State Bank of India’s chief economic adviser Soumya Kanti Ghosh in a recent report.

The Bollywood industry needs to pivot fast to maintain its large audience who are consuming their films elsewhere post-pandemic.

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Leaders

Elon Musk is projected to become the world’s first trillionaire

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8 hours ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

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11 hours ago

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September 9, 2024

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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Leaders

Trump promises to slap unprecedented tariffs on foreign allies

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13 hours ago

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September 9, 2024

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Former President Donald Trump has promised to slap unprecedented Tariffs on foreign allies, including the European Union, if he wins the 2024 presidential election.

Trump pledged to reduce the corporate tax rate from 21% to 15% for companies that make their products in the U.S.

While he had already said he wanted to cut the corporate tax rate to 15%, he had not previously tied that lower rate to keeping manufacturing inside the country. #featured #trending

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