A decade-long spending boom on original television shows is expected to slow to a crawl this year as lossmaking streaming platforms moderate rapidly expanding budgets and traditional channels cut back on commissions. Overall spending growth on original content is expected to fall from 6 per cent last year to just 2 per cent in 2023, according to research group Ampere Analysis. Ampere predicts total original spending will fall by 3 per cent as the sector tries to cope with an advertising downturn, rising production costs and declining audiences for linear channels. Read More...
Reuters
Evergrande chairman says 2023 crucial for home delivery, debt repayment
This will be a “crucial year” for China Evergrande Group to fulfil home delivery to buyers, company Chairman Hui Ka Yan said in a letter to employees on New Year’s Day, adding he trusted the firm would be able to repay all its debt. Saddled with over $300 billion in liabilities and undergoing a debt restructuring, the world’s most indebted property developer has been struggling to repay its many creditors and suppliers and complete projects. “I trust firmly, as long as the entire Evergrande staff … does all the jobs solidly including completing construction, restoring sales, restoring operation, we will definitely be able to ensure home delivery … (and) repay all kinds of debt and resolve risks,” Hui said in the letter dated Jan. 1.
