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ASCI updates guidelines for education sector; focuses on students’ mental, physical well being
Education has been among the top violative sectors for the past few years when it comes to advertising, the ad regulator said. In its annual complaints report 2022–23, classical education ranked second among the top violative categories with 13.8 percent of total ads that did not adhere to ASCI’s guidelines.
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Wonderla to scale up investments by 4X, plans to add new rides, & a resort in Hyderabad
With footfalls growing 1.6 times post-Covid, the company has seen strong revenue growth and plans to add two new parks, in Chennai and Odisha. These should be operational in about a couple of years.
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Matters remotely connected with company have been addressed, Zee says on Sony merger
Punit Goenka, ZEE CEO, mentioned that the team is taking all necessary steps within the boundaries of the law to ensure there are no further hindrances in the merger approval.
BUSINESS
IPO bound gaming and blockchain company Yudiz Solutions gets NSE approval
The company is set to invest around Rs 80 million to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.
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With the biggest cricket stadium as home ground, Gujarat Titans sees high ticket revenues
With the home and away format making a comeback after three years and the franchise this year playing more than seven home matches at the Narendra Modi Stadium in Ahmedabad with a capacity of over 1,30,000, the team is recording high ticket sales.
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Zee5 lines up more content for 2023 with over 100 titles, up from 90 last year
While platforms like Zee5 are scaling up their content portfolio, experts note that the next 6-12 months are critical for the over the top platform (OTT) sector as platforms strive to balance monetization and profitability against content investment.
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TCS increase and Go First challenges impact travel industry, domestic demand strong: Thomas Cook
TCS will have a short-term impact and domestic travel will become the flavour for a month or two, said Thomas Cook India CEO. He added that the Go First issue is a challenging situation as there is no clarity on the airline resuming operations.
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Nazara's Nodwin Gaming raises $28 million for international expansion, IP development
Along with IP development and expansion in emerging markets, the company will use the funds to acquire more companies.
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Go First insolvency, higher airfares drive demand for bus tickets on popular routes
Delhi-Luucknow, Mumbai-Ahmedabad, Hyderabad-Bangalore, Chennai-Mumbai and Bangalore-Goa are among the routes that have seen a massive rise in demand.
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Tips Industries eyes overseas market, bets on regional segment; Bengali music to be in focus
The company is looking to release 700-800 songs in FY24 and has acquired music of films like PS I and II, and Freddy
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Occupancy, room rates have crossed pre-Covid levels for hotels, says Mahindra Holidays CEO
The company is also expanding inventory aggressively by creating more resorts, acquiring properties and also through the public-private partnership (PPP) model, the CEO added.
TRENDS
MS Dhoni, Bhuvan Bam violate ad guidelines most, gaming least compliant category
In its annual report, ASCI also noted that the overall compliance is lower at 81 percent due to digital as the ads in this space emerged not just as a leading violator but also as the least compliant.
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PVR INOX to delay fresh handover of screens due to volatility in box office business
Due to high volatility in the Hindi film business, PVR Inox is waiting before taking new screens. On the other hand, the company is betting big on South India for its screen expansion with 40-50 percent concentration in south as regional films continue to perform better
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Disney+Hotstar paid user base to fall further by over 10% after IPL rights loss, HBO exit
The OTT platform may face a total paid subscriber loss of 25-30 percent and a negative impact of 50 percent on overall revenue in 2023, according to analysts.
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Mother's Day: The rise of the Indian mom influencer, to the second largest in the category in the world
In the last five years, there has been about a 50 percent spike in the number of mom-influencers in India. And the most popular mom-influencers have become a vital component of the marketing mix for brands, say marketers.
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The Kerala Story gives theatres a new lease of life after months of lean business
Theatre owners noted that the last blockbuster in cinemas was Pathaan. But despite—or perhaps because of—the controversy attached to it, The Kerala Story has come as a pleasant surprise for the cinema business.
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Go First insolvency spoils summer travel plans of Indians
Those who had booked tickets on Go First are scrambling to book on other airlines at higher prices.
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Hotels are at peak occupancy, growth will come via higher room rates: Royal Orchid's chairman
The Indian hotel industry bounced back since March last year after struggling during Covid years. The sector which returned to pre-pandemic levels in FY23 is expected to see double-digit growth in FY24.
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What’s Cooking: Actor Suniel Shetty launches food delivery app Waayu, looks to back more startups
The actor, who has backed startups in the health and sports space, is looking to further invest in new companies with a basic cash flow. He says that for him the founders and their ideas are most important.
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South film industry exceeds pre-Covid level with more releases, higher box office returns
While box office business of south Indian films surpassed pre-pandemic levels, Hindi and Hollywood trail behind. Business of Hindi films dropped from Rs 4,800 crore in 2019 to Rs 3,500 crore in 2022 and Hollywood's revenue in India fell from Rs 1,600 crore pre-pandemic to Rs 1,200 crore last year.
BUSINESS
Digital to claim biggest share of ad spends as gaming, influencer marketing gather steam
Larger than television, digital's share is further expected to rise to 54 percent in 2025 on the back of increasing focus on tier II, III markets and more brands spending on influencer marketing and gaming.
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TV revenues grew marginally in 2022, digital and live events emerge strong performing segments
Deals related to merger and acquisitions (M&A) also saw strong momentum in 2022 with over 125 deals last year as compared to 118 in 2021, of which 65 percent were in digital, gaming, and new media segments.
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Media and entertainment sector grew 20% in 2022 to cross Rs 2-trillion mark, surpasses pre-Covid level
The sector is growing at a CAGR of 10.5 percent and is expected to reach Rs 2.86 trillion in 2025, according to FICCI EY 2023 report
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Box office blues: Struggling multiplexes stare at a muted March quarter on Bollywood flops, lower footfalls
However, the increase in the average ticket price and spend per head would offset the lack of growth in footfalls.
