BUSINESS
Extra cost, tight timeline concern gaming firms as they brace for changes in GST
The higher outgo may be passed on to customers, which could lead to a drop in patronage; apart from legal and communication costs, updating billing and payments systems to be a burden.
TRENDS
India first market to recover for Australia tourism as flight capacity, arrivals rise
Tourism Australia has seen a surge in business travel especially after PM Modi's visit to Australia along with the signing of the migration and mobility agreement between the two countries
BUSINESS
'Will set the real-money gaming industry back several years': Stakeholders after GST set at 28%
The substantial increase in tax liability will result in the survival of only established and well entrenched skill gaming companies, say industry stakeholders.
TRENDS
GST on deposit versus net deposit: Skill gaming industry divided on taxation
Some firms are in favour of being taxed on deposits, while other companies say this is not viable and want GST imposed on net deposits.
BUSINESS
PVR Inox sees box office stability for Bollywood; bets big on SRK's Jawan and other releases
According to the company, smaller Bollywood films are performing well at the box office. The Kerala Story turned out to be the biggest film at the box office in the June quarter.
BUSINESS
Yudiz Solutions to launch Rs 44-crore public issue on August 4
The company has fixed the price band issue for the issue at Rs 162 to 165.
BUSINESS
G20, World Cup will boost demand and foreign tourist arrivals: Indian Hotels CEO
These events are driving positioning of India as a tourism hub, said Puneet Chhatwal, Managing Director & CEO, IHCL.
TRENDS
How India became the second biggest box office market for Oppenheimer
For a Hollywood tent-pole firm, this is the first time the India market has emerged as among the top three contributors after the home market.
TRENDS
28% GST only applicable to iGaming; will not affect video game industry: Esports Federation
Esports has been officially recognised as a sport by the government, which distinguishes it from activities like iGaming (online gaming) such as fantasy, teen patti, rummy, poker, betting and gambling, said Esports Federation's President
TRENDS
Online gaming firms to cut ad spends on revenue impact from 28% GST
Online gaming firms spend a significant amount on ads and marketing. The industry was looking forward to sporting events like the upcoming ICC Men's cricket World Cup. A higher GST puts both companies and players in a situation where they cannot earn any profits, say industry insiders.
TRENDS
Oppenheimer and Barbie: Hollywood clash fuels multiplex boom in India
In cities like Bengaluru, Mumbai and Delhi, most of the shows in premium screens like IMAX are sold out with ticket rates starting from rs 700 and going over Rs 2,000 for the two Hollywood films released in India simultaneously on July 21.
TRENDS
PVR and Inox to invest Rs 450 cr in FY24, adding 150 screens with focus on south India
The multiplex chain will also continue promotional offers on food and beverages and on movie tickets to bring more people to cinemas.
TRENDS
'Blur graphic media, disclose fees': ASCI releases guidelines for ads on charitable causes
Charities have become active advertisers especially on digital media. However, there have been some concerns about ads that create donor distress through the use of images that may be too graphic. To address this, and other issues, ASCI has come out with new guidelines.
TRENDS
#Barbieheimer: Hollywood's business in India soars with 25% higher collections
Hollywood films have grossed about Rs 600 crore in the first half of 2023 in India, which is about 25 percent higher than the first half of 2022.
TRENDS
Brands make a beeline for Sunil Chhetri after SAFF win, other footballers gain traction too
Chhetri, who currently endorses six to seven brands and charges over Rs 1 crore, is likely to see the number of endorsements go up to 10-15.
TRENDS
SRK's Pathaan highest contributor to 2023 box office revenue
The overall box office for January to June releases stands at Rs 4,868 crore, making the first half of 2023 close at just below the Rs 5,000 crore mark, said a report.
TRENDS
GST@28%: Higher tax burden, lower winnings may drive gamers to grey market
Deducting tax at source on the winning amount, in addition to taxing the full value of the money wagered, will have a significant impact on the prize pool and incentives for players.
TRENDS
Zee forms interim committee to oversee operations as SEBI order bans Punit Goenka
SEBI had stated that Subhash Chandra and Goenka had allegedly "abused their positions" for personal financial gains.
TRENDS
IPO-bound gaming major Yudiz Solutions to spend Rs 12 crore on expansion
On the game development front, Yudiz Solutions plans to develop over 40 games a year. The company would develop games for other publishers and will also allow other developers to publish games on their new publishing platform.
TRENDS
Box Office blues: Adipurush, Bollywood’s weak showing to drag PVR-Inox’s performance in Q1
The multiplex chain’s revenues may slip 23 percent during April-June 2023 quarter; occupancy to stay below pre-Covid levels.
TRENDS
Will PVR-Inox’s F&B strategy pay off and draw in the crowds?
The dramatic reduction in prices of food and beverages at PVR-Inox multiplexes is expected to increase footfalls, and translate into revenue, and bring people back to the theatres.
TRENDS
Pitch perfect: Cricket is driving demand for hotels, rooms sold out for World Cup 2023
With India hosting the 2023 edition of the ICC World Cup, the hospitality industry is seeing a surge in bookings as well as in room rates.
TRENDS
Not so lean: Lower flight, hotel fares drive monsoon travel demand
This year, airfares for June-September travel are lower by 13 percent compared to last year's same period for bookings done till July 6. For hotels, prices are 11 percent lesser in comparison to last year during the same time period.
TRENDS
Healthtrip turns profitable as medical tourism demand surges post-Covid-19
The company's founder Danish Ahmed said that post-Covid demand has been significant in the medical tourism space that helped the company record profits in the last few months after lean business in the two years of the pandemic.
