• With cost-of-living on the rise, brands should renew their focus on understanding which streaming services are viewed as indispensable by consumers.
• New metaverse platforms allow artists and brands to engage a new generation of consumers that own and collect digital assets and memorabilia.
• Content is global! Production companies continue to grow their capacity to tell stories from different cultures in different parts of the world.
• The globalization of music is bringing previously difficult to reach audiences to the forefront.
• While theatrical releases are continuing their return, the success of hybrid model releases ensures the continuation of this model.
UK Streaming Services Shrink As Households Look To Cut Costs
Rising household expenses are having an impact on share of market for streaming platforms. News from the UK shows the short-term consequences of inflation and rising costs on streaming subscription bases. According to reporting by Kantar, “wanting to save money” is the driving factor in service cuts accounting for 38% of planned cancellations in Q2. Amazon & Netflix remain favorites and are the last to go within U.K. households. — READ MORE
Snoop Dogg Releases First Metaverse Music Video
The music video for “House I Built” is only the beginning of Snoop Dogg’s Snoopverse, where his avatar can perform exclusive concerts only accessible to his fans. The Dogg appears as a voxel avatar in the visual, which features Blondish along with Steve Aoki and was created using VoxEdit and Game Maker, Sandbox’s free user-generated content creation tools. Later this year, Snoop will also hold his debut Metaverse concert in Sandbox — and this is only the beginning in his mind. — READ MORE
Amazon Prime Video Expanding in African Markets
In a bid to expand Prime Video in key African markets, Amazon Studios is recruiting a London-based head of Nigerian originals. In a recent job posting, the streaming platform has said it’s looking for an experienced senior creative executive to work with its Nigeria originals team and oversee both scripted and non-scripted content. The role will report directly into Ned Mitchell, the Los Angeles-based head of originals for Africa and the Middle East for Amazon Studios. — READ MORE
Warner Music India To Make Bollywood Debut
Warner Music India is set to make its debut in Bollywood soundtracks via a strategic partnership with Jjust Music. The deal will see Warner Music India make its first foray into marquee Bollywood releases, while Jjust Music’s artists will benefit from being plugged into Warner Music’s global network. The partnership’s first joint release will be an English-language pop track by Bollywood star Tiger Shroff. — READ MORE
STX Trims Theatrical Distribution, Pivots Toward More Hybrid Releases
The news comes as STX is pivoting away from 12 theatrical releases a year and more toward a multi-tiered distribution model. It plans to make 15 films a year, with five destined for the big screen and the balance split between straight-to-streaming or international theatrically distributed PVOD or direct-to-streaming titles. — READ MORE
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