Entertainment

Short video app TikTok testing interactive minigames for live streaming

Short video app TikTok testing interactive minigames for live streaming

Entertainment

TikTok is reportedly testing games in its video-sharing app in Vietnam, which is part of the company's push into the gaming arena. One of the most popular platforms for video-sharing is aiming to make gaming a part of its platform to boost its advertising revenue and provide more screen time for its users.

Sources claimed that investors got attracted to Vietnam as it has over 70% tech-savvy population under the age group of 35, making the country a desirable market for several social media platforms such as YouTube, Facebook, and TikTok. Even parent company ByteDance has plans to expand its gaming offerings in Southeast Asia, which could happen as early as the third

Netflix axes over 150 jobs in the wake of slowing revenue growth

Netflix axes over 150 jobs in the wake of slowing revenue growth

Entertainment

Netflix has reportedly announced that it has laid-off over 150 employees, mainly U.S. staffers, to alleviate the increasing strain of costs in face of a slowing growth in revenues.

A spokesperson of Netflix, in an email, stated that as the company experiences a reduction in earnings, it needs to subsequently reduce the amount of cost required for its growth. The company expressed deep sorrow over its decision to let go of approximately 150 of its employees, primarily from the U.S. pool.

The spokesperson added that such difficult decisions are taken in terms of the business needs and not individual performance. The company will suppo

Seoul City, Kakao to build South Korea’s first and largest K-pop arena

Seoul City, Kakao to build South Korea’s first and largest K-pop arena

Entertainment

South Korean Internet giant, Kakao Corporation, has reportedly signed an agreement with the Seoul Metropolitan Government to construct the country’s first and largest concert arena dedicated to K-pop performances.

The construction of the multicultural complex, named Seoul Arena, will start in June and is expected to finish by October 2025.

Seoul Arena will be located in the capital city’s northern Dobong-gu district and will have the capacity to accommodate over 20,000 attendees for each event.

As per Kakao, the arena will be comprised of venues specialized for music concerts and have aro

EU antitrust regulator approves Amazon’s $8.5B acquisition of MGM

EU antitrust regulator approves Amazon’s $8.5B acquisition of MGM

Entertainment

The antitrust regulator of the European Union has reportedly approved American giant Amazon’s proposed takeover of Metro-Goldwyn-Mayer (MGM) for $8.5 billion. Due in part because MGM's content cannot be classified as ‘must-have’.

According to reports, the acquisition is currently still awaiting approval from the United States FTC.

The European Commission approved the agreement proposed in May 2021 earlier this week. The commission stated that the deal will pose no concerns of competition in the European Economic Area (EEA).

The European Commission concluded that the deal would n

Art sales hit record high in 2021 raking in $17.1bn, up 60% from 2020

Art sales hit record high in 2021 raking in $17.1bn, up 60% from 2020

Entertainment

Art auctions reportedly witnessed a record year in 2021 as sales reached $17.1 billion with the market growing rapidly in Asia while recovering from the pandemic slump, according to experts at Artprice, a French online art price database.

As per Artprice’s annual report, the numbers were up by more than 60% from the year prior, when sales were affected due to the initial disruptions caused by the coronavirus, and a 28% rise from 2019.

The boost in sales can also be credited to several big-name auctions held, such as the sale of $45 million of Botticelli’s artwork and the sale of $34.9 million of Frida Kahlo’s artwork i

Amazon suspends Prime Video access in Russia, halts shipment of orders

Amazon suspends Prime Video access in Russia, halts shipment of orders

Entertainment

Online retail supermajor, Amazon, has reportedly suspended its Prime Video service for Russia-based customers amid Ukraine’s invasion by the country.

In its announcement via a blog post, the company also stated that shipments of retail products to Russia and Belarus-based customers has been suspended and that it will not accept new Amazon Web Services customers as well as Amazon third-party sellers based in the two countries.

Amazon will also not be accepting orders for the only video game it directly sold in Russia, New World.

The e-commerce company said that it has taken additional actions in

UK: Ofcom launches 15 probes into RT programs over ‘due impartiality’

UK: Ofcom launches 15 probes into RT programs over ‘due impartiality’

Entertainment

British media regulator, Office of Communications, also called Ofcom, has reportedly launched 15 investigations into the matter of ‘due impartiality of programs’ broadcasted on the Russian English-language news channel RT.

Dame Melanie Dawes, chief executive of Ofcom, has described the situation as serious and expects full cooperation from RT in the regulator’s attempt of looking into a potential breach of rules as quickly as possible in face of the Ukraine crisis.

Dame Dawes stated that the regulator has concerns regarding 15 programs, which is an unexpected number from any one broadcaster on a general day, and that i

Hybe becomes first K-pop agency to surpass $838Mn in annual sales

Hybe becomes first K-pop agency to surpass $838Mn in annual sales

Entertainment

South Korean entertainment company, Hybe Co., Ltd., has reportedly surpassed ₩1 trillion ($868 million) in annual sales, becoming the management agency first in the K-pop industry to do so, led by the success of its artists including the global sensation BTS.

According to the agency’s regulatory filing, Hybe’s sales in 2021 have been tentatively recorded at ₩1.25 trillion ($1.05 billion), a 58% jump from the previous year. The agency’s operating profit also increased 30.8% on-year, amounting to ₩190.3 billion ($160 million), while its net profit was up by an estimate of 62%, at ₩141 billion ($118 million).

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UK: Millions of users to pay £43 a year more as Sky TV hikes prices

UK: Millions of users to pay £43 a year more as Sky TV hikes prices

Entertainment

Sky TV, the British telecommunications and broadcaster firm, has reportedly announced that millions of Sky TV and broadband users in the UK will pay £43 extra each year beginning in April, whereas Sky Mobile users will bear the return of £2-per-day roaming charges throughout the rest of Europe, following the firm's announcement of a string of inflation-busting price hikes.

From April 1, Sky's Essential broadband plan will go up by 10% to £27.50 per month, while its Superfast service will jump by 9% to £30.50 per month.

The firm, having over 12 million users in the UK, stated that starting in April, the av