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International
Spotlight on the Dominican Republic: Production Boost During the Pandemic
The Dominican Republic's film industry boomed amidst the pandemic, with earnings skyrocketing from $50 million to over $250 million post-border opening in June 2020. Blockbusters like Old, Shotgun Wedding, and The Lost City fueled this surge, boosted by a 25% tax credit on production costs and a rising wave of local talent.
Broadway
Thanksgiving in New York: Holiday Broadway Box Office
Over Thanksgiving week, Broadway saw a nearly 30% surge in box office earnings, hitting $34 million across 26 ongoing shows. Though the audience numbers remained steady, the revenue spike came from increased prices for holiday seats, with ticket prices rising by an average of 27%. Standout performances by productions like Merrily We Roll Along and & Juliet set new house records for the holiday period.
Sports
Race to Streaming: Breaking Down NASCAR’s New Deal
NASCAR has sealed a new $7.7 billion media rights deal for its Cup Series, spanning seven years from 2025—a 40% hike from the existing agreement. Fox Sports and NBC Sports will still air most of the 38 yearly races, while Amazon's Prime Video and Warner Bros. Discovery's TNT will stream five exclusive races each season. Prime Video's move marks its inaugural streaming-exclusive partnership for a major U.S. sport.
Film Festival
Flocking to the Red Sea: International Film Industry Attends Saudi Arabia Festival
The Red Sea International Film Festival, running from November 30 to December 9, has swiftly emerged as a major global film hub since its 2019 launch. Despite regional and industry tensions, top executives are attending to explore Saudi Arabia's burgeoning film scene, backed by its generous tax incentive program. The festival doubles as a launchpad for discovering and nurturing new Arabic and African talent, aiming to shape the evolving MENA (Middle East and North Africa) market.
Movie Theaters
European Expansion: IMAX and Pathé Cinemas Add New Locations
IMAX is extending its partnership with Pathé Cinemas in Europe, introducing five new IMAX with Laser systems. With four locations in France, IMAX continues its successful run in the French market. As part of the deal, the first “Filmed for IMAX” classical ballet stage performance, Swan Lake, co-produced by Paris Opera and Pathé Live, is slated for a global release by the end of 2024.
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