Samsung Galaxy Z Flip 5, Samsung Galaxy Z Fold 5 India Sale Date Confirmed: Price, Specifications

Samsung Galaxy Z Flip 5 and Galaxy Z Fold 5 will go on sale in India next week, around three weeks after the company unveiled its latest foldable handsets at its second Galaxy Unpacked launch event of the year. These phones are powered by Qualcomm’s custom Snapdragon 8 Gen 2 Mobile Platform for Galaxy, and feature a new Flex Hinge. Compared to last year’s model, the Galaxy Z Flip 5 is equipped with a much larger outer screen, similar to its closest rival — the Motorola Razr 40 Ultra.

Samsung Galaxy Z Flip 5, Galaxy Z Fold 5 price in India, availability

Samsung Galaxy Z Flip 5 price in India is set at Rs. 99,999 for the base model with 256GB of storage, while the 512GB storage variant is priced at Rs. 1,09,999. Both models come with 12GB of RAM. The clamshell foldable phone is sold in Cream, Graphite, Lavender, and Mint colour options. Samsung’s website will also sell the phone in additional Blue, Gray, and Green colourways.

On the other hand, the Samsung Galaxy Z Fold 5 is priced at Rs. 1,54,999 for the model with 256GB of storage while the 512GB and 1TB storage variants cost Rs. 1,64,999 and Rs. 1,84,999, respectively. This foldable phone is sold in Cream, Icy Blue, and Phantom, Black colour options, while the 1TB storage model will only be available in an Icy Blue colourway. It will also be available in a Platinum colour option via the company’s website. 

Both Galaxy Z Fold 5 and Galaxy Z Flip 5 will go on sale in India on August 18, Samsung announced in a prepared statement on Friday.

Samsung Galaxy Z Flip 5, Galaxy Z Fold 5 specifications

The recently launched Samsung Galaxy Z Flip 5 sports a 6.7-inch full-HD+ (1,080×2,640 pixels) Dynamic AMOLED 2X Infinity Flex display and a 3.4-inch Super AMOLED folder-shaped outer screen that is much larger than its predecessor that was launched last year. Meanwhile, the Samsung Galaxy Z Fold 5 is equipped with a 7.6-inch QXGA+ (2,176 x 1,812 pixels) Dynamic AMOLED 2X Infinity Flex inner screen and the cover screen has a 6.2-inch full-HD+ (2,316 x 904 pixels) Dynamic AMOLED 2X panel.

These foldable phones run on One UI 5.1.1 based on Android 13. They are powered by a custom Snapdragon 8 Gen 2 Mobile Platform for Galaxy from Qualcomm, paired with 8GB of RAM (Galaxy Z Flip 5) and 12GB of RAM (Galaxy Z Fold 5). The clamshell phone features up to 512GB of inbuilt storage, while the larger model comes with up to 1TB of onboard storage.

On the Galaxy Z Flip 5, you get two 12-megapixel rear camera sensors and a 10-megapixel selfie camera. Meanwhile, the Galaxy Z Fold 5 features a triple rear camera setup with a 50-megapixel primary camera, a 12-megapixel ultra-wide-angle camera, and a 10-megapixel telephoto camera. The handset also features a 10-megapixel selfie camera on the outer screen and a 4-megapixel under-display camera on the inner display.

Both of Samsung’s latest phones have an IPX8 rating for water resistance, just like last year’s models. The Samsung Galaxy Z Flip 5 packs a 3,700mAh battery, while the Galaxy Z Fold 5 has a 4,400mAh battery. Both phones support 25W wired charging along with Fast Wireless Charging 2.0 and Wireless PowerShare, according to the South Korean smartphone maker.


Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Samsung Galaxy S24 Series to Get M13 OLED Displays, Up to 16GB RAM: Report

Samsung Galaxy S24 series is expected to go official in the first quarter of 2024. The flagship lineup, that is said to include the Galaxy S24, Galaxy S24+, and Galaxy S24 Ultra, has been in the rumour mill for quite some time now. Most recently, more details about the handsets have surfaced online. They are said to come with a new chip, improved RAM, and upgraded displays over the current models. The Galaxy S24 family could pack OLED displays made using the M13 material. The Ultra model is expected to pack 16GB of RAM as well.

As per a report by the Korean publication Chosun, Samsung’s upcoming Galaxy S24, Galaxy S24+, and Galaxy S24 Ultra smartphones will feature new OLED displays made using the M13 material. These panels will reportedly offer improved performance over the previous M12 OLED panels used in the Galaxy S23 lineup. It could be lighter and will be more power efficient than older models.

Samsung is said to have added M12 OLED displays on its new Galaxy Z Fold 5 and Galaxy Z Flip 5 foldables. Last year’s iPhone 14 Pro and iPhone 14 Pro Max also have the same panels, says the report. This year’s iPhone 15 series will also reportedly feature the M12 OLED panels, but this would change next year. Apple, Samsung’s primary rival in the market, is expected to provide the M13 OLED panel for the iPhone 16 series.

The report further claims that Samsung’s in-house Exynos processors will make a return to Galaxy S series smartphones next year. The Galaxy S24 lineup could run on Exynos 2400 chip in select markets and they might get Qualcomm’s Snapdragon 8 Gen 3 SoC in some other countries. In 2022, Samsung equipped the Snapdragon 8 Gen 1 SoC on Galaxy S22 handsets in select markets. In other regions, the handsets debuted with Exynos 2200 SoC on board. This year, the South Korean smartphone brand fitted a customised version of the Snapdragon 8 Gen 2 SoC on the Galaxy S23 series.

Samsung’s Galaxy S24 models will reportedly also come with increased memory capacity over the previous models. The regular Galaxy S24 and Galaxy S24+ are said to pack 12GB of RAM, compared to 8GB on the Galaxy S23 and Galaxy S23+ models. The Galaxy S24 Ultra, in contrast, could pack up to 16GB of RAM, up from the 12GB RAM on the Galaxy S23 Ultra.

The price of the Galaxy S23 starts at Rs. 74,999 in India, while the Galaxy S23+ and Galaxy S23 Ultra have initial price tags of Rs. 94,999 and Rs. 1,34,999, respectively.


Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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ChatGPT Fever Spreads to US Workplace, Firms Raise Concerns Over Intellectual Property Leaks

Many workers across the US are turning to ChatGPT to help with basic tasks, a Reuters/Ipsos poll found, despite fears that have led employers such as Microsoft and Google to curb its use. Companies worldwide are considering how to best make use of ChatGPT, a chatbot program that uses generative AI to hold conversations with users and answer myriad prompts. Security firms and companies have raised concerns, however, that it could result in intellectual property and strategy leaks.

Anecdotal examples of people using ChatGPT to help with their day-to-day work including drafting emails, summarising documents, and doing preliminary research.

Some 28 percent of respondents to the online poll on artificial intelligence (AI) between July 11 and 17 said they regularly use ChatGPT at work, while only 22 percent said their employers explicitly allowed such external tools.

The Reuters/Ipsos poll of 2,625 adults across the United States had a credibility interval, a measure of precision, of about 2 percentage points.

Some 10 percent of those polled said their bosses explicitly banned external AI tools, while about 25 percent did not know if their company permitted the use of the technology.

ChatGPT became the fastest-growing app in history after its launch in November. It has created both excitement and alarm, bringing its developer OpenAI into conflict with regulators, particularly in Europe, where the company’s mass data-collecting has drawn criticism from privacy watchdogs.

Human reviewers from other companies may read any of the generated chats, and researchers found that similar artificial intelligence AI could reproduce data it absorbed during training, creating a potential risk for proprietary information.

“People do not understand how the data is used when they use generative AI services,” said Ben King, VP of customer trust at corporate security firm Okta.

“For businesses, this is critical, because users don’t have a contract with many AIs – because they are a free service – so corporates won’t have to run the risk through their usual assessment process,” King said.

OpenAI declined to comment when asked about the implications of individual employees using ChatGPT but highlighted a recent company blog post assuring corporate partners that their data would not be used to train the chatbot further unless they gave explicit permission.

When people use Google’s Bard it collects data such as text, location, and other usage information. The company allows users to delete past activity from their accounts and request that content fed into the AI be removed. Alphabet-owned Google declined to comment when asked for further detail.

Microsoft did not immediately respond to a request for comment.

‘HARMLESS TASKS’

A US-based employee of Tinder said workers at the dating app used ChatGPT for “harmless tasks” like writing emails even though the company does not officially allow it.

“It’s regular emails. Very non-consequential, like making funny calendar invites for team events, farewell emails when someone is leaving … We also use it for general research,” said the employee, who declined to be named because they were not authorized to speak with reporters.

The employee said Tinder has a “no ChatGPT rule” but that employees still use it in a “generic way that doesn’t reveal anything about us being at Tinder”.

Reuters was not able independently confirm how employees at Tinder were using ChatGPT. Tinder said it provided “regular guidance to employees on best security and data practices”.

In May, Samsung Electronics banned staff globally from using ChatGPT and similar AI tools after discovering an employee had uploaded sensitive code to the platform.

“We are reviewing measures to create a secure environment for generative AI usage that enhances employees’ productivity and efficiency,” Samsung said in a statement on August 3.

“However, until these measures are ready, we are temporarily restricting the use of generative AI through company devices.”

Reuters reported in June that Alphabet had cautioned employees about how they use chatbots including Google’s Bard, at the same time as it markets the program globally.

Google said although Bard can make undesired code suggestions, it helps programmers. It also said it aimed to be transparent about the limitations of its technology.

BLANKET BANS

Some companies told Reuters they are embracing ChatGPT and similar platforms while keeping security in mind.

“We’ve started testing and learning about how AI can enhance operational effectiveness,” said a Coca-Cola spokesperson in Atlanta, Georgia, adding that data stays within its firewall.

“Internally, we recently launched our enterprise version of Coca-Cola ChatGPT for productivity,” the spokesperson said, adding that Coca-Cola plans to use AI to improve the effectiveness and productivity of its teams.

Tate & Lyle Chief Financial Officer Dawn Allen, meanwhile, told Reuters that the global ingredients maker was trialing ChatGPT, having “found a way to use it in a safe way”.

“We’ve got different teams deciding how they want to use it through a series of experiments. Should we use it in investor relations? Should we use it in knowledge management? How can we use it to carry out tasks more efficiently?”

Some employees say they cannot access the platform on their company computers at all.

“It’s completely banned on the office network like it doesn’t work,” said a Procter & Gamble employee, who wished to remain anonymous because they were not authorized to speak to the press.

P&G declined to comment. Reuters was not able independently to confirm whether employees at P&G were unable to use ChatGPT.

Paul Lewis, chief information security officer at cyber security firm Nominet, said firms were right to be wary.

“Everybody gets the benefit of that increased capability, but the information isn’t completely secure and it can be engineered out,” he said, citing “malicious prompts” that can be used to get AI chatbots to disclose information.

“A blanket ban isn’t warranted yet, but we need to tread carefully,” Lewis said. 

© Thomson Reuters 2023  


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Nokia 130 Music, Nokia 150 2023 Variants With Upgraded Batteries Launched in India: Price, Specifications

Nokia 130 Music and Nokia 150 phones were launched in India on Thursday by HMD Global, the parent company of Nokia. The phones have arrived with upgraded batteries claiming to offer longer battery life. The Nokia 130 Music also has a powerful loudspeaker, according to the company. The Nokia 150 2023 model runs on a Series 30+ OS like its 2020 model and also has a VGA rear camera with a flash unit. The Nokia 130 Music carries a 2.4-inch QVGA display.

Nokia 130 Music, Nokia 150 (2023) price in India, availability

Offered in Dark Blue, Purple, and Light Gold colour options the Nokia 130 Music starts in India at Rs. 1,849. The Light Gold variant is priced slightly higher at Rs. 1,949.

Meanwhile, the Nokia 150 (2023) is available in Charcoal, Cyan, and Red colourways. The handset is listed at Rs. 2,699. Both handsets will be available for purchase at retail stores, on the Nokia website, and through other online partner stores.

Nokia 130 Music, Nokia 150 (2023) specifications, features

Both feature phones are equipped with 2.4-inch displays. The Nokia 130 Music model comes with a QVGA panel and a tactic keypad. The phones carry 1,450mAh batteries each, a larger battery than the 1,020mAh batteries of the Nokia 130 (2017) and the Nokia 150 (2020).

The Nokia 130 Music supports microSD cards of up to 32GB and offers both wired and wireless modes of FM radio, alongside its MP3 player. It comes with a Micro USB (USB 1.1) port and a 3.5mm audio jack. The handset, designed in Finland, also claims to store up to 2000 contacts and 500 SMS. The box contains wired headphones.

Claiming to provide “rugged durability”, the polycarbonate body of the Nokia 150 (2023) arrives with an IP52 rating for dust and splash resistance. The larger battery claims to offer up to 20 hours of talk time and up to 34 days of standby. It also has a VGA camera and a flash unit at the back.


Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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Emmy Awards 2023 Delayed to January Due to Hollywood Actors and Writers Strikes

Emmy Awards 2023 have been officially delayed to next year. After months of dialogue between the Television Academy and new broadcaster Fox, the 75th Primetime Emmy Awards will now be held on January 16 at 6:30am IST in India/ January 15 at 5pm PT in the US. This marks the first time in two decades that the Emmys are being postponed — the first being in 2001, after the September 11 attacks. This latest delay is owing to the ongoing actors’ and writers’ strikes in Hollywood, which have halted several major film and TV productions. Nominees were revealed back in July, with Succession leading the pack, and a host will be decided upon once the strikes end.

Without the actors/ nominees, the awards show would look rather empty, and with no writers pulling the strings in the background with a proper script or jokes, the show was headed with no vision. As per The Hollywood Reporter, there was a scenario in which the show would’ve been telecasted without writers, but the lack of star power caused the delay unavoidable. You see, members of SAG-AFTRA (Hollywood actors union) are not allowed to star in or promote any film or TV projects they’re in, in addition to accepting awards for struck work until the union meets a fair agreement with major studios. It’s also the reason why several big-budget movies — boasting starry cast lineups — are getting delayed.

The 2023 Emmys were originally slated for September and now see a nearly four-month delay, during which the studios hope the strikes will subside. However, the new date also places it in an already busy awards season. As usual, the telecast also includes the Creative Emmys, which rewards excellence in technical elements in television and some other minor acts — a two-night event scheduled for January 6 and January 7. However, the second night coincides with the Golden Globe 2024 event, which celebrates both movies and TV series, essentially dampening the achievements of the already underappreciated creative department. What I’m trying to say is that all eyes would be on the bigger awards show.

Not to mention, there’s also the 2024 Critics Choice Awards on January 14 (Jan 15 for India), which falls exactly a day before the newly-set date for the Primetime Emmy Awards. So, these are back-to-back awards shows, with the former featuring television alongside film categories. For now, the other award broadcasters aren’t confirmed to be shuffling dates around. As noted before, the Emmy nominees have already been decided and the final voting timeline for Academy members stays the same — August 17–28. Even SAG-AFTRA and the DGA (Directors Guild of America) have their award ceremonies set for the month of February, in the run-up to the Oscars season.

It’s not clear whether the writers’ and actors’ union will be able to reach a fair agreement by January since a Deadline report from July revealed the statement made by an unnamed executive. “The endgame is to allow things to drag on until union members start losing their apartments and losing their houses,” they said. Another person deemed it a ‘cruel but necessary evil.’

The 75th annual Emmys are set to stream live from the Peacock Theater, Los Angeles, on early Tuesday, January 16 at 6:30am IST/ January 15 at 5pm PT in the US. In India, it will be available to stream on Lionsgate Play.


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OnePlus Ace 2 Pro Confirmed to Offer 24GB RAM, 1TB Storage; to Get Repositioned Fingerprint Sensor

OnePlus Ace 2 Pro is all set to launch in China on August 16. Ahead of the launch, the brand has been hyping the phone by teasing its specifications through Weibo. Most recently, OnePlus has revealed the RAM and storage details of the OnePlus Ace 2 Pro. It is confirmed to debut with 24GB of fast onboard memory. The OnePlus Ace 2 Pro will have a bionic vibration sensor motor and an in-display fingerprint sensor for authentication. It is already confirmed to run on Snapdragon 8 Gen 2 SoC.

OnePlus has revealed more details about the OnePlus Ace 2 Pro via Weibo. It is now teased to come with 24GB LPDDR5x RAM and 1TB of UFS 4.0 storage. The RAM produced by SK Hynix is said to keep 54 apps active and allow 41 apps to run in the background for up to 72 hours.

The upcoming OnePlus Ace 2 Pro is claimed to be the first phone in the world to come with 24GB of onboard RAM, however, the Red Magic 8S Pro+ had launched last month with a 24GB RAM + 1TB storage configuration.

For gaming, OnePlus Ace 2 Pro is teased to pack an X-axis linear motor that is said to have a volume of greater than 600mm square. It will also have a Bionic vibrating motor. Further, the handset will get an ultra-thin in-display fingerprint sensor and it would be placed 2cm higher than previous OnePlus phones.

The launch of the OnePlus Ace 2 Pro will take place in China on August 16 at 2.30 pm local time (12:00pm IST). It is confirmed to feature a 6.74-inch OLED 1.5K(1,240×2,772 pixels) resolution display with 120Hz refresh rate, HDR10+ certification, and 450ppi pixel density. The display will get a hole punch cutout in the centre to house the selfie shooter. It will run on Snapdragon 8 Gen 2 SoC and come equipped with a 5,000mAh battery with support for 150W SuperVOOC charging.

The OnePlus Ace 2 Pro is likely to succeed the OnePlus Ace Pro that debuted last year.


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X Video Calling Support Confirmed by CEO Linda Yaccarino as Elon Musk-Led Firm Expands Functionality

X video calls are coming to the app in the future, the platform’s CEO has confirmed in an interview. The Elon Musk-led microblogging website formerly known as Twitter is working on adding support for new features as part of the billionaire’s plan to turn X into an “everything app”. Users will be able to make video calls without sharing their phone number, a feature offered by rivals like Facebook and Instagram where account usernames are used to connect with other users.

During a recent CNBC interview, X CEO Linda Yaccarino confirmed that the platform would add support for video calling soon. The upcoming feature will allow X users to “make video chat calls without having to give your phone number to anyone on the platform,” she stated. Yaccarino also told CNBC that she had “autonomy” to run the company under Musk, and that their roles were “very clear”.

Last month, X employee Andrea Conway shared two screenshots of what appears to be the X video calling UI on iOS. The first screen shows a phone receiver icon at the top right corner of the screen inside a direct messages chat that shows a pop-up menu with options for audio and video calls. The second screen shows a video calling screen with four buttons: speaker, mute, video, and end call.

The screengrabs shared by Conway are over a month old, so it is possible that the X video calls interface could look a little different when the feature is rolled out to users. On Thursday, Conway posted that she had “just called someone on X”. Neither Yaccarino nor Conway have revealed when the feature will be rolled out to users.

In June, Yaccarino told investors that X — the platform was still called Twitter at the time — would focus on video, creator and commerce partnerships as part of efforts to make the service more competitive with other social media platforms. At the time, Yaccarino’s presentation reportedly revealed that over 10 percent of user activity on Twitter was spent on watching vertical videos.

The service recently began sharing ad revenue with eligible creators on the platform. On Friday, the support account for X announced that the firm was lowering the eligibility threshold for ads revenue sharing from 15 million impressions over three months to 5 million impressions. Users who have an X Premium — formerly known as Twitter Blue — subscription and meet the service’s requirements will be able to receive minimum payouts of $10 (roughly Rs. 830) — down from $50 (roughly Rs. 4,100) — according to the platform.


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Elon Musk’s X Reduces Minimum Requirement for Impressions for Ad Revenue Sharing to 5 Million

Tech giant X, formerly known as Twitter, on Friday, announced a new update to their Ads Revenue program for creators, reducing the minimum amount of impressions needed from 15M to 5M.

The company tweeted from its official handle, “Now, even more people can get paid to post! We’ve lowered the eligibility threshold for ads revenue sharing from 15M to 5M impressions within the last 3 months. We’ve also lowered the minimum payout threshold from $50 (roughly Rs. 4,137) to $10 (roughly Rs. 827). Sign up for a Premium subscription to get access.”

X has also lowered its payment threshold from USD 5O to USD 10.

Elon Musk on the other hand shared some more information regarding the new update and tweeted, “This essentially means that X Premium (fka Twitter Blue) is free for accounts that generate above 5M views. Note, only views from verified handles count, as scammers will otherwise use bots to spam views to infinity.”

Previously, the micro-blogging site required users to have a minimum of 15 million impressions within three months to qualify for ad revenue sharing.

According to The Verge, an American Technology news website, Musk announced the revenue-sharing plan in February, and the company sent out the first round of payments for eligible accounts (with paid verification via Twitter Blue or Verified organizations, 15 million “organic” impressions in the last three months, and at least 500 followers) a couple of weeks ago before opening up registration to more people. 


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PVR Inox Launches Standalone IMAX Experience at Delhi’s Priya Cinema

PVR Inox, India’s biggest theatre chain, has launched the only standalone IMAX property in the country. The company has converted Delhi’s age-old Priya Cinema, located at Basant Lok Complex, Vasant Vihar, into a ‘state-of-the-art’ experience, equipped with IMAX Laser projection for large-scale viewing. While other IMAX theatres in the country house regular theatre formats and projections alongside, this marks the first time an entire cinema is dedicated to IMAX screenings. As one of the oldest PVR properties, it features a single-screen with a 316-seater setup, with ticket prices ranging anywhere from Rs. 400 to Rs. 1,000 depending on what show you opt for.

“We are extremely pleased to upgrade our first and most iconic cinema, PVR Priya into a modern-day representation of a truly immersive cinematic experience like IMAX,” Ajay Bijli, Managing Director, PVR INOX Ltd. said in a prepared statement. “Non-Hindi Indian movies and Hollywood movies have indeed broken the thresholds of geographical and language barriers being dubbed in multiple languages aided by their larger than life appeal and immersive formats such as IMAX has helped in expanding the movie viewing market.” This is, of course, referring to the recent ‘Barbenheimer‘ movie event, which turned a profit for Indian cinemas struggling to keep up with streaming. The company’s revenue saw a big bump in July, which came blasting in with three major Hollywood blockbusters — Mission: Impossible – Dead Reckoning Part One, Barbie, and Oppenheimer.

Imax and Laser Projection Cost More, but It’s Worth It for the Theatre Experience

The last of them led the Indian market, breaking past the 100-crore mark at the box office, with many visiting IMAX theatres to experience it the way ‘Christopher Nolan intended it.’ Even the Tom Cruise-led action affair received similar IMAX treatment and at the time of writing, they’re both currently playing at Priya Cinema, Delhi. That said, in order to keep the business running, PVR Inox needs to have IMAX format movies available to show at regular intervals, which is seemingly difficult with the ongoing Hollywood actors’ and writers’ strike that has halted major productions. Even Dune: Part 2, which was slated for release in November — with IMAX as a focus — might get delayed into 2024, as its starry cast would be unable to promote or do any interviews for the film.

So, unless more local, Indian productions step in to shoot in IMAX — during the Hollywood downtime — Priya Cinemas will be forced to show non-IMAX films, which technically goes against its advertising. PVR Inox Managing Director Bijli even confirmed the same in a recent interview — there’s bound to be a lot of that unless Hollywood studios and the actors and writers’ unions come to a fair agreement. Shooting on standard 2K cameras is way cheaper, which is why most Indian productions opt for it. “India is fast emerging as one of the most exciting global cinema markets thanks to its passionate audiences and their love for Indian and Hollywood filmmaking alike, and we are pleased to further partner with PVR INOX to meet surging demand for The IMAX Experience,” Rich Gelfond, CEO, IMAX said in a press release.

Once the ‘Barbenheimer’ craze is over, cinemas around the world will suffer a similar situation as the pandemic era, which caused moviegoers to stay at home. Fearing the worst, most major productions have shifted their release dates, with Spider-Man: Beyond the Spider-Verse being a key player, as its actors cannot do any voiceover work during the strike. Meanwhile, Kraven the Hunter, which was slated to drop in October, has been postponed to August 2024.


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Disney, Netflix, Media Firms Rake in Profit Amid SAG, WGA Hollywood Strikes

Large media companies have been reporting stronger-than-expected profits as the twin strikes by Hollywood writers and actors grind on.

While the executives who make and distribute films and TV shows all say they’d like their workers to return soon, their businesses are seeing a huge short-term benefit from the work stoppages: No production means no expenses.

Netflix kicked off earnings season last month with this nugget of news: Projected free cash flow will be about $1.5 billion (nearly Rs. 12,420 crore) greater this year than originally forecast, due to the strikes. Warner Bros. Discovery saved $100 million (nearly Rs. 830 crore) on film and TV production costs in the second quarter. That will grow into hundreds of millions if the strikes continue to the end of the year.

Walt Disney Co. said Wednesday the strikes will contribute to a projected $3 billion (nearly  Rs. 24,830 crore) reduction in film and TV production costs this year.

All of which partly explains why there’s been so little progress toward a settlement. The studios have vast libraries, including newly completed films and TV shows, and will rake in in billions of dollars in extra cash before longer-term damage from the strikes becomes evident. Similarly, many members of the striking Writers Guild of America and Screen Actors Guild have other jobs outside of Hollywood and face little pressure to compromise.

Paramount Global Chief Executive Officer Bob Bakish didn’t put a specific number on what his company, the parent of CBS and Paramount Pictures, is saving. He told investors this week the company had enough movies and shows to keep viewers watching and coming to theaters in the months ahead.

Bob Bakish, president and chief executive officer of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Tuesday, July 11, 2023. The summit is typically a hotbed for etching out mergers over handshakes, but could take on a much different tone this year against the backdrop of lackluster deal volume, inflation and higher interest rates. 

“We’re in pretty good shape,” Bakish said.

The strike by the writers, which began in May, has already run longer than the union’s previous work stoppage in 2007. New film and TV production, particularly for scripted series, has almost ground to halt. The actors walked out in July.

On Thursday, the Writers Guild said it received a new request to meet from the studios’ bargaining group and would do so Friday. The union said it expects a response to its recent proposals.

There has been some fallout: Networks are rejiggering their fall schedules, adding reality shows that aren’t affected by the walkouts. Studios are delaying some film releases because actors aren’t allowed to promote them while on strike.

Still, on conference calls with investors, executives minimize the impact. Mike Cavanagh, who oversees the NBCUniversal film and TV business as president of Comcast, forecast higher free cash flow and lower working capital this year with production shut down. That will reverse when the strikes end.

“It’s all manageable,” Cavanagh said. 

The writers and actors, while represented by separate unions, have similar demands in their negotiations with the studios. They’re seeking increases in their base pay, as well as a share of revenue from programs that run on streaming services. They also want assurances that their jobs won’t be replaced by artificial intelligence.

“We have studios really trying to squeeze us so they can get more profit, and enough is enough,” Darsan Solomon, an actor and strike captain, said on a picket line in late July. “We need to be able to make a living at this again.”

Netflix co-CEO Ted Sarandos told investors on an earnings call that his father was a union electrician and that he understood the toll strikes can take on families.

“There are a handful of complicated issues,” he said. “We’re super committed to getting to an agreement as soon as possible.”

© 2023 Bloomberg LP


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