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International
Outback Production: Australia Reaches Record International Spend
Between June 30, 2022, and June 30, 2023, foreign film and drama productions set a new spending record in Australia at A$1.22bn (US$780m), reflecting a 35% YoY increase. Notably, foreign content outpaced local spending, which declined by 26%. Despite the growth, Screen Australia CEO Graeme Mason emphasized the importance of fostering authentic Australian content.
Movie Theaters
Big Screen Advertisements: Summer Box Office Boosted Revenue
National CineMedia, the company driving in-theater advertising, recorded a substantial 28% YoY surge in advertising revenue, totaling $69.6 million in the third quarter of 2023. This follows a successful financial restructuring in August and a robust summer box office fueled by crowd-pulling films like Barbie and Oppenheimer.
Industry
Media Tourism: The TV Shows, Movies, and Concerts That Will Fuel Fan Travel
Expedia Group's annual forecast pinpoints influential television shows and movies such as The White Lotus, Wednesday, and Gladiator 2 in shaping travel trends for 2024. The rise of "Tour Tourism," driven by concert deals with artists like Coldplay and Taylor Swift, is expected to further propel travel.
Film Festival
Film Market at the Red Sea: The Souk Market Boosts Projects With Festival Fund
The Red Sea International Film Festival unveils its industry-focused Red Sea Souk Market, scheduled from December 2 to 5, showcasing 26 highlighted projects. Among them, the Red Sea Lodge projects stand out, with four earning annual production prizes of $50,000 each. All 26 projects will compete for cash prizes from the Red Sea Fund.
DEI
Representation 2.0: New Report Discusses Nuances of Asian Depictions
An August report from the Annenberg Inclusion Initiative found a steady rise in Asian representation among 100 streaming series and films in 2022. However, characters often lack cultural specificity and racial identity. A recent study by USC's Norman Lear Center and Gold House emphasizes the unintended negative impact of avoiding stereotypes in Asian depictions, stressing the need for nuanced storytelling that embraces the full spectrum of the Asian diaspora's experiences.
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