Media Industry Braces for Market Contraction, Labor Unrest, and Financial Uncertainty in 2024
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Market Contraction Experts predict global production levels will slip in 2024 as streamers seek profits and traditional players face challenges. Development spending could fall 40%.
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Union Talks Go Global Labor strikes in the US emboldened unions worldwide. Key talks are ahead in the UK, Canada, and across Europe over issues like streaming residuals.
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More Media M&A Merger talks continue between Warner Bros. Discovery and Paramount Global. Meanwhile, investment firm RedBird is set to acquire All3Media.
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Arthouse Cinema Struggles While some indie films succeeded, small distributors and theaters face extremely polarized markets and financial troubles across Europe.
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India Media Consolidates Major mergers are braced for India in 2024 between Disney/Reliance and Sony/Zee as groups seek scale and profitability.