Movies & Entertainment

Disney has reached a wide-ranging new content licensing agreement with Netflix, bringing a collection of movies and TV shows, including existing "Ice Age" films and the "Percy Jackson and the Olympians" series, to its rival streaming platform. The deal is set to bring a slate of Disney+ originals, Pixar movies, and 20th Century Studios titles to Netflix viewers globally, with title availability and launch timelines varying depending on the markets, according to a statement from the companies. Under the agreement, the first two seasons of the Disney+ original series "Percy Jackson and the Olympians" will be streaming on Netflix from Oct. 4 for three months as part of a promotional campaign ahead of its Season 3 premiere on Disney+ on Nov. 20. All five "Ice Age" films will also be available on Netflix worldwide beginning Oct. 4 in a separate promotional campaign ahead of the theatrical release of the franchise's sixth movie, "Ice Age: Boiling Point," on Feb. 5. Additionally, select Disney-branded films from Walt Disney Animation Studios and Pixar, including Oscar-winner "Soul," "Elio," and "Raya and the Last Dragon," will also be available for streaming on Netflix globally early next year.

iQIYI announced that cumulative revenue-sharing for its AIGC film series The Ferry Man has surpassed RMB 8 million, or US$1.2 million, as of September 23, as the third instalment, The Ferry Man: The Dream of the Princess, debuts on October 1 on iQIYI and iQIYI International. Produced by iQIYI and GHY Culture & Media, the series' first two titles, The Ferry Man: Butterfly Dream and The Ferry Man: The Dream of the Celestial Maiden, were released simultaneously on August 22 and recovered their full production costs within the first week, surpassing RMB 8 million in cumulative box office within the first month. Producer Zhichao LI said the first two films moved from project initiation to launch in less than four months, with AI improving efficiency during preparation and production while script development and post-production stayed largely consistent with traditional workflows. The series builds lasting digital asset value through AIGC, with the three lead actors licensing their likenesses and providing their own voiceovers, and standardized reusable digital character, scene and prop assets that let the third film maintain visual consistency while cutting production costs. The release follows iQIYI's earlier long-form AIGC effort, Mystic Tales - The Spider Lady's Vendetta, which the company describes as China's first AIGC internet feature film released under an Internet Drama and Film Distribution License.

Netflix is ramping up live programming, video podcasts and cloud gaming as new content pillars, alongside a sizeable share repurchase plan and a potential acquisition of Warner Bros. The company operates as a global entertainment platform in the US and worldwide, built around on demand films, series and related media that compete directly with other large streaming and traditional entertainment groups. Management is exploring a potential acquisition of Warner Bros., which would bring a large film and TV library under Netflix control. The pivot into live content, podcasts, gaming and a possible Warner Bros. deal is only one piece of the Netflix puzzle. The key checks for investors are engagement and cash generation, with Q3 and Q4 2026 updates around viewing time, ad tier traction and any quantified returns from live programming or games, together with the pace and size of future share repurchases, showing whether these new pillars are affecting the overall earnings profile.

Disney has partnered with Indonesia's Vidio on a subscription bundle called the Vidio Ultimate Disney+ All Screen Bundle. The bundle gives subscribers access to Disney's TV shows and movies along with Vidio's rights to the English Premier League, the UEFA Champions League, and BRI Super League. The two companies are also creating a funnel for the bundle within Vidio's standalone subscription, featuring samples of popular Disney programming with regional content to entice Vidio subscribers to upgrade to the Disney+/Vidio bundle, and are developing a reciprocal arrangement to give Disney+ subscribers access to certain Vidio originals and Indonesian soap operas. The collaboration is part of Disney's effort to expand its output of international production with a goal of 60 to 70 international original series over the next three years, triple Disney's current level of international content. Vidio CEO Sutanto Hartono said the bundle makes it easier than ever for Indonesian audiences to enjoy the best of local stories, global entertainment, and world-class sports.

Major Cineplex Group, or MAJOR, has announced a partnership with ACU PAY, a digital payment service provider, to expand payment options for movie tickets through the ACU VISA CARD and ACU PAY E-Wallet, reinforcing its image as Thailand's first cashless cinema, offering cashless service since 2021. Narut Jiansanong, Deputy Chief Executive Officer for Advertising Media at Major Cineplex Group Public Company Limited, said the transition to a fully cashless cinema, covering mobile banking, QR payment, e-wallets, as well as credit and debit cards, has received a good response, especially from Gen Z. Ms. Yang Yuanyuan (Caro), President, and Naranong Sasiphongphan, Director and CEO of ACU Pay (Thailand) Co., Ltd., said the ACU VISA CARD is officially available starting today. The two companies are also running the ACU PAY Watch n Chill: Discount 100 THB campaign, offering a 100-baht discount per seat on movie tickets for 3,000 privileges, limited to one privilege per seat, from October 1, 2026 to July 31, 2027 at all Major Cineplex Group cinemas nationwide. Customers must claim the privilege through the ACU PAY E-Wallet app, receive a 100-baht discount code as a QR code, then scan it to buy tickets at E-Ticket kiosks or through the Major app and pay via the ACU PAY E-Wallet app to receive the discount.

Major Cineplex Group Public Company Limited, or MAJOR, has announced a partnership with ACU PAY, a digital payment service provider, to elevate its cashless cinema experience by adding the option to pay for movie tickets through ACU VISA CARD and the ACU PAY E-Wallet. The two parties are also running the "ACU PAY Watch n Chill: Discount 100 THB" campaign, offering a 100 baht discount per seat on movie tickets for 3,000 redemptions, from 1 October 2026 to 31 July 2027, at all Major Cineplex Group cinemas nationwide. Customers who pay via the ACU PAY E-Wallet will receive the discount, limited to one redemption per seat, with the discount code delivered as a QR Code through the ACU PAY E-Wallet application for use at E-Ticket kiosks at the cinema or through the Major application. Narut Jiansanong, Senior Executive Vice President of Advertising Media at Major Cineplex Group Public Company Limited, said the company aims to develop the movie-watching experience in line with changing consumer behaviour. MAJOR began moving toward the cashless cinema model in 2021 and has now expanded its cashless payment systems to cover mobile banking, QR payment, e-wallets, as well as credit and debit cards. Ms. Yang Yuanyuan (Caro), President, and Rongnarong Sasiphongphan, Director and Chief Executive Officer of ACU Pay (Thailand) Company Limited, said the partnership connects the strengths of ACU PAY's digital payment platform with MAJOR's entertainment experience, and that ACU VISA CARD is now officially available.

AMC Entertainment Holdings, Inc. completed a $3.97 billion refinancing package in late September 2026, issuing US$2.00 billion of 8.875% first-lien notes due 2031, arranging new first- and second-lien term loans totaling US$1.97 billion, and launching a tender offer for its existing 7.500% senior secured notes due 2029. The debt overhaul, which the company says is aimed at simplifying near-term maturities, does not remove the near-term risk posed by high interest costs and balance sheet strain. Separately, AMC amended its charter to declassify its board and remove limits on board size, a governance change that alters how quickly directors can be refreshed and held accountable as the company executes its turnaround. AMC also filed a US$71.75 million shelf registration for 25,000,000 Class A shares tied to an employee stock plan, underscoring its reliance on capital markets and an effort to align workforce incentives with long-term goals. The company's narrative projects $6.3 billion in revenue and $4.9 million in earnings by 2029, requiring 6.2% yearly revenue growth and an earnings increase of about $559 million from -$554.1 million today, while the most cautious analysts assume only 4.7 percent annual revenue growth and no profits within three years.

CuriosityStream Inc. announced the launch of its flagship streaming service, Curiosity Stream, as a subscription on Prime Video in Canada. The Canadian launch brings Curiosity Stream's subscription presence on Prime Video to five major English-speaking markets: the United States, the United Kingdom, Canada, Australia and New Zealand, while the service is also distributed as a subscription through Prime Video in Germany, India, the Netherlands, Sweden and Finland. Amazon customers across Canada can subscribe to Curiosity Stream directly through Prime Video for $7.99/month CAD after a 7-day free trial, with no additional app to download. Jay Sodha, Curiosity's VP of Partnerships and Business Development, called Canada an important market and said the launch represents a significant milestone in the company's longstanding and growing relationship with Prime Video. The launch advances Curiosity's strategy of meeting audiences on the platforms they already use, alongside a flexible range of products tailored to individual markets that spans premium subscription services, linear channels, free ad-supported streaming channels and direct content licensing.

Deutsche Bank upgraded Netflix to Buy from Hold while cutting its price target to $95 from $100. Even after the reduction, the new target implies roughly 37% upside from Netflix's latest price. The bank also lowered its operating income and free cash flow estimates following Netflix's second-quarter results. Still, Deutsche Bank sees enough longer-term opportunity to turn more positive on the stock, pointing to international growth and potential upside from artificial intelligence. The call comes after Netflix shares have faced renewed questions over growth and competition in streaming, with HSBC recently warning that the company is losing viewing share to YouTube.

Universal Music Group has appointed Libby Bush to the newly created role of President, Global Brands and Commercial Partnerships, effective in November. Bush joins UMG from Creative Artists Agency, where she served as Global Head of Entertainment Partnerships and was a member of the Agency Board, and she will be based in Los Angeles, reporting to UMG Chief Operating Officer Boyd Muir. In the new role, she will lead a global function uniting UMG's brands, media, and commercial partnership businesses, including Universal Music Group for Brands, or UMGB. Before CAA, Bush founded the entertainment partnerships agency Tandem Entertainment, which CAA acquired in 2020, and she previously led global brand partnerships at Marvel Entertainment and held roles at ABC Entertainment, the WNBA's Los Angeles Sparks and the National Basketball Association. UMG said the appointment is the latest in a series of moves to strengthen its central operations under Muir, following the appointments of Tseyin Foo as President, Global Supply Chain, and Hannah Poferl as Chief Data Officer.

Avex Inc. has increased its ownership of S10 Entertainment to 85%, acquiring the stake from Brandon Silverstein and his partners under an agreement to reach 100% ownership over time. Silverstein continues as CEO of S10 and Avex Music Group, and as a board member and equity partner in Avex Music Group, while taking on a broader role shaping Avex Group's global music strategy across recorded music, publishing, live entertainment, touring and investments. The deal follows Avex's March 2025 acquisition of the S10 Music Publishing catalog, which at the time reported more than 22 global No. 1 hits and 50 billion streams worldwide, with a repertoire including songs recorded by Justin Bieber, Drake, Tate McRae, Doja Cat, Post Malone and Rihanna. Since Silverstein became CEO in 2025, Avex Music Group has announced a global publishing administration partnership with Bruno Mars and launched an initial $100 million publishing acquisition initiative. Avex Inc. drove nearly $1 Billion in revenue in its last fiscal year, and financial terms of the transaction were not disclosed.

AstraZeneca agreed to make a $2 billion strategic equity investment in Summit Therapeutics, sending the biopharmaceutical company's shares up 17.1% in premarket trading. The investment supports a collaboration combining Summit's flagship bispecific antibody, ivonescimab, with AstraZeneca's oncology pipeline, and AstraZeneca will acquire convertible preferred shares at a price equivalent to $18.36 per common share, a 10% premium to Summit's five-day volume-weighted average price. Fair Isaac tumbled 15% after the Federal Housing Finance Agency announced changes to mortgage pricing that will introduce competition to FICO's longstanding role in the mortgage credit-scoring market; FHFA Director Bill Pulte said Fannie Mae and Freddie Mac will consolidate their separate pricing matrices into a single unified grid that will incorporate VantageScore alongside the traditional FICO Classic score. CarMax rose 3.7% after reporting fiscal second-quarter earnings of $1.16 per share, beating analyst expectations of 68 cents, with revenue of $7.88 billion topping forecasts of about $7.06 billion. AAR Corp. surged 6.9% after announcing an agreement to acquire a 65% controlling interest in MRO Holdings at an implied enterprise value of $4 billion, alongside adjusted diluted EPS of $1.49 and revenue of $918 million that beat expectations. Netflix rose 1.4% after Deutsche Bank upgraded the streaming giant to Buy from Hold with a $95 price target, while AbCellera Biologics gained 2.1% on a JPMorgan Overweight initiation with a $17 price target and Q32 Bio rose 9.4% ahead of a key clinical data presentation at the European Academy of Dermatology and Venereology Congress in Vienna beginning Sept. 30.

A federal judge on September 1, 2026 declined to allow an early appeal of the ruling that Spotify Premium qualifies as a music-and-audiobook bundle, leaving a favorable decision intact for Spotify USA Inc., the U.S. subsidiary of Spotify Technology S.A. The remaining dispute concerns the bill: the Mechanical Licensing Collective alleges that subscription revenue is being allocated and reported incorrectly, and that the price of Audiobooks Access overstates the value of Premium's audiobook component, reducing the revenue share attributed to music. The September 1 order also struck the subsidiary's defense that MLC had unfairly singled it out for enforcement. Spotify Technology S.A. disclosed approximately €473 million of potential liability for March 1, 2024 through June 30, 2026 if MLC ultimately succeeds completely in challenging Premium's classification as a bundle, though that estimate concerns the original bundling challenge and the remaining calculation claims require separate quantification. The January 2025 ruling recognized that the 15 hours of monthly audiobook listening included in the plans at issue had more than token value, and Spotify reported 300 million Premium subscribers, up 9% year over year, and revenue of €4.8 billion, up 14%, in second-quarter results announced August 4.

PlayStudios announced a 1-for-10 reverse stock split of its Class A and Class B common shares, approved at its 2026 annual meeting to regain compliance with Nasdaq's $1.00 minimum bid price rule, alongside a $3.0 million share repurchase. The company said its Class A common stock is scheduled to begin trading on a split-adjusted basis on The Nasdaq Capital Market on October 1, 2026. PlayStudios also reported that it bought back approximately 4.3 million Class A shares for $3.0 million, or roughly $0.71 per share, in open-market transactions during the third quarter of 2026 through September 24. Shares of the digital casino game platform jumped 3.1% in the after-market session on the news before cooling to $0.47, down 1.1% from the previous close. The stock is down 28.6% since the start of the year and trades 51.5% below its 52-week high of $0.97 from October 2025.

Spotify Technology S.A. announced a partnership with Genius on September 11 to stream the company's video series directly on the platform. Spotify users can now stream full video episodes of Genius' live performance franchise Open Mic, while Verified, Genius' artist-led lyric breakdown series, will add a deep backlog of older episodes alongside new releases. Since launching in 2016, both franchises have amassed over 3.7 billion combined views. The move comes after Spotify reported €4.8 billion in total revenue in Q2 2026, up 14% year-over-year, with 300 million Premium Subscribers, up 9%, 777 million total Monthly Active Users, a record 33.4% Gross Margin and €655 million in operating income. Spotify aims to deepen user engagement and expand its multimedia footprint, though the ultimate return depends on monetizing video impressions through advertising without slowing user growth.

Sphere Entertainment's The Wizard of Oz has generated more than $500 million in ticket sales since opening in Las Vegas last year, giving the company a fresh sign of strong demand for its flagship attraction. More than 4 million tickets have been sold since the show debuted on August 28, 2025, Sphere said on Friday, and the company introduced new 4D effects including animatronic Winged Monkeys, themed scents, scented apples, fireworks, and Glinda Glitter. The milestone comes as investors debate whether demand for the show can remain strong into the final quarter of the year, with BTIG saying its data showed attendance and average ticket prices fell in the third quarter while October pricing trends have been mixed. The brokerage expects both measures to improve in the fourth quarter, which is seasonally stronger for Sphere, though analyst Tyler DiMatteo wrote that the key question is the convexity of the move between the two. DiMatteo called the Wizard of Oz business objectively a success over its first full year, while noting investors remain divided over near-term trends, with bears focused on ticketing data and a possible brief content air pocket and bulls looking to growth in sponsorships and potential new Sphere venues and content. BTIG maintained its Buy rating and $190 price target, implying about 34.6% upside from the stock's last close.

Stagwell has increased its investment in Real Clear Holdings, the publisher of Real Clear Politics and creator of the RCP Poll Average, deepening its commitment to owned media. The transaction reflects Stagwell's confidence in trusted, independent media and its belief that RealClear is uniquely positioned to serve audiences in a fragmented information landscape. As part of the growing partnership, Real Clear Holdings appointed Jared Smith as president, reporting directly to CEO John McIntyre, and Kristen Elliott as Head of Commercial. Smith, a seasoned media executive who previously held senior roles at Yahoo, AOL, WWE, and HuffPost, has managed multi-hundred-million-dollar businesses across advertising, subscriptions, commerce, and search, while Elliott began her career at Condé Nast leading revenue and brand partnerships for Vogue.com before serving as Head of Revenue at Kargo. The investment will support adding top-tier digital media talent and a strategy to grow the Real Clear portfolio, develop new revenue streams, and expand audience engagement, including launching Real Clear AI and broadening events, audio, video, and subscription offerings. Real Clear Holdings, founded by John McIntyre and Tom Bevan, includes verticals such as Real Clear Defense, Real Clear Energy, and Real Clear Health, and has been trusted by policy decision-makers for 25 years.

Walt Disney is expected to post earnings of $1.66 per share for the current quarter, a year-over-year change of +49.6%, with the Zacks Consensus Estimate up +1.2% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $6.91 points to a change of +16.5% from the prior year, and for the next fiscal year the consensus estimate of $7.47 indicates a change of +8.2%. Revenue is forecast at $24.95 billion for the current quarter, up +11.1% year over year, while current and next fiscal year sales estimates of $101.38 billion and $106.09 billion indicate changes of +7.4% and +4.7%, respectively. Disney reported revenues of $25.25 billion in the last reported quarter, a year-over-year change of +6.8%, with EPS of $2.06 versus $1.61 a year ago, a revenue surprise of -0.91% against the Zacks Consensus Estimate of $25.48 billion and an EPS surprise of +9.57%. The stock carries a Zacks Rank #3 (Hold) and a Zacks Value Style Score of C, with shares down -1.8% over the past month against the Zacks S&P 500 composite's +1% gain and a 5.8% loss for the Zacks Media Conglomerates industry.

Major Cineplex Group Public Company Limited, or MAJOR, is preparing to bring two world-class titles to cinemas across the Major Cineplex Group chain exclusively throughout October 2026 under the concept Exclusively at Major Cineplex. The first is UNSHATTER, a documentary film about the return of global rock band Linkin Park after a hiatus of more than seven years and the start of a new chapter following the loss of Chester Bennington, with Emily Armstrong stepping in as the new female lead vocalist. The film, named after the song Linkin Park wrote and recorded together with Emily Armstrong, will screen from October 7 to 11, 2026, exclusively at 20 Major Cineplex Group locations nationwide, with tickets starting at 300 baht. The second is ALWAYS LALISA, the first documentary film from LISA, Lalisa Manobal, which premiered at the 2026 Toronto International Film Festival. It will screen from October 12 to 18, 2026, at 54 Major Cineplex Group locations nationwide, including IMAX screens, with tickets starting at 350 baht. Those interested can check showtimes and reserve tickets in advance through the Major Cineplex application, the website www.majorcineplex.com, and E-Ticket self-service kiosks at every Major Cineplex Group location.

Major Cineplex Group Public Company Limited, or MAJOR, is preparing to bring two world-class content events from artists Linkin Park and LISA Lalisa Manobal to cinemas in the Major Cineplex chain under the concept Exclusively at Major Cineplex in October 2026. The first, UNSHATTER, is a documentary film capturing the return of the world-renowned rock band Linkin Park after a hiatus of more than 7 years following the loss of Chester Bennington, and the arrival of Emily Armstrong as the new female lead vocalist. The title UNSHATTER comes from a song the band wrote and recorded together with Emily Armstrong. It will screen from 7-11 October 2026 exclusively at 20 Major Cineplex Group cinema locations nationwide, with tickets starting at 300 baht. The other highlight is ALWAYS LALISA, the first documentary film of LISA Lalisa Manobal, which premiered at the 2026 Toronto International Film Festival and tells the story of her work as a solo artist after rising to fame with BLACKPINK. It will screen from 12-18 October 2026 at 54 Major Cineplex Group cinema locations nationwide, including IMAX systems, with tickets starting at 350 baht. MAJOR stated that presenting Alternative Content aims to create an experience beyond simply watching a film, and that it will continue to select diverse content formats, including Live Viewing, Concert Film, Documentary, and special content from world-class artists, to drive cinemas to become another destination for music lovers and fans. Those interested can check showtimes and reserve tickets in advance through the Major Cineplex application, the company's website, and E-Ticket automatic ticket machines at Major Cineplex cinemas.

AMC Entertainment Holdings launched a $3.97 billion refinancing package on September 21, combining a $2 billion offering of first-lien notes due 2031, an $850 million first-lien term-loan syndication, and a conditional commitment for a $1.12 billion second-lien term loan that depends on completion of the first-lien financing and other conditions. The proceeds would replace existing obligations, including secured notes and term loans, and cover transaction costs alongside cash already on hand. AMC also offered $1,009.70 for each $1,000 principal amount of its 7.5% secured notes due 2029, plus accrued interest, while the new interest rates were not disclosed. The company generated $106.9 million of operating cash flow in the first half of 2026, compared with $231.6 million used a year earlier, though first-half capital expenditures of $91.5 million absorbed most of that gain. Insider Monkey's database showed 33 hedge funds holding AMC at the end of 2Q2026, up from 20 funds three months earlier.

Disney and Marvel Studios' Avengers: Endgame: Encore led the North American box office over the weekend with an estimated $26 million from 3,060 locations, as the domestic market generated an estimated $124.05 million from Friday through Sunday, up 9.1% from the previous weekend and 60.7% from the comparable weekend a year earlier, according to figures from Rentrak's Paul Dergarabedian. The re-release, which includes an exclusive look at the upcoming Avengers: Doomsday, averaged $8,497 per location and added $60 million overseas for an $86 million worldwide weekend. Resident Evil held up well enough in its second weekend to take second place with $23.3 million, falling 61% from its opening weekend and reaching $103.5 million domestically and $196.5 million worldwide. Paramount's Heart of the Beast debuted in third place with $20 million from 3,435 theaters, adding $30.1 million internationally for a $50.1 million worldwide opening, while A24's Primetime followed with $19.2 million from 2,874 locations and Universal and DreamWorks Animation's Forgotten Island rounded out the top five with $12.8 million. Domestic ticket sales have reached $7.79 billion through Sept. 27, up 19.1% from $6.54 billion at the same point in 2025, and the Endgame encore generated $13.7 million globally on IMAX screens, pushing the film past Star Wars: The Force Awakens to become IMAX's fourth-highest-grossing movie ever with $225.7 million.

The Walt Disney Company has appointed Karandeep Anand as its first-ever Chief Technology Officer and named Adam Smith Chairman of Direct-to-Consumer, while also implementing further price increases for Disney+ and Hulu's ad-free tiers and bundles. The leadership and pricing moves together highlight Disney's push to tighten its technology backbone and extract more value from its streaming audience. Smith's promotion to Chairman of Direct-to-Consumer is seen as especially connected to Anand's arrival as CTO, since both roles sit at the center of Disney+, Hulu and the unified app push. The company's narrative projects $112.8 billion in revenue and $13.1 billion in earnings by 2029, requiring 5.1% yearly revenue growth and a $1.9 billion earnings increase from $11.2 billion today. Six Simply Wall St Community members currently see Disney's fair value between US$108.93 and US$134.63, with the key question being how much Anand's new CTO role can offset the risk that younger viewers keep favoring short form, user generated content over Disney's premium streaming platforms.

Toho Co., Ltd. resolved at a September 2026 Board meeting to raise its interim dividend to ¥11 per share for the period ended August 31, 2026, up from ¥8.5 per share. The higher payout totals ¥9,151 million, with an effective date of November 20, 2026. The increase signals management's willingness to return more surplus cash to shareholders and reinforces a capital-return story that also includes ongoing buybacks, rather than materially changing the near-term outlook. Key catalysts remain execution on content such as KAIJU NO. 8 THE GAME and whether management can justify a premium earnings multiple amid modest forecast growth and low return on equity.

Netflix reported $12.56 billion in second-quarter revenue, up 13.35% from the same quarter last year, even as its stock has fallen 21.18% in 2026 amid worries about slowing growth and intensifying competition from YouTube and short-form video platforms. Management expects full-year revenue growth of 13% to 14%, and the stock trades at about 18.69x forward earnings, well below its historical average. Netflix says it has reached less than 45% of the roughly 800 million households it considers addressable and captures only about 7% of an estimated $670 billion revenue opportunity across its current markets and entertainment categories. The company also points to advertising, live programming and generative AI production efficiencies, noting six of its 10 biggest member sign-up days over the past five years came from live events, though live content is expected to account for only about 1% of viewing hours this year. On the bear side, viewing hours rose just 2% in the first half of 2026, and Netflix guided to third-quarter revenue of $12.86 billion, slightly below Wall Street's $13 billion estimate, while hedge fund ownership fell to 121 funds holding about $10.0 billion at the end of Q2 from 144 funds holding roughly $11.2 billion in the prior quarter.

Yuanta Securities issued an analysis of the advertising sector, recommending a selective investment strategy focused on stocks that grow faster than the industry. It rates MAJOR a "buy" with a target price of 9.75 baht and names it a top pick on second-half 2026 earnings expected to recover on film and advertising revenue as well as cost control, and rates PLANB a "buy" with a target price of 7.80 baht on growth in out-of-home media and its share of COM7's profit. The target price does not yet include the potential from synergies between the two companies. The research team expects third-quarter 2026 advertising to recover slightly both quarter on quarter and year on year, led by online media, OOH/Transit and cinemas, supporting a recovery in MAJOR on film and advertising revenue. PLANB, although expected to slow year on year in the third quarter of 2026, will grow strongly both quarter on quarter and year on year in the fourth quarter of 2026 on the high season and a full quarter's recognition of its share of COM7's profit. For the full year 2026, advertising spending is expected to total 83,869 million baht, down 1.3% year on year, as the economy and purchasing power recover slowly. In 2027, digital and OOH/Transit are expected to lead the market on measurement and a recovery in out-of-home activity, while traditional media step up efforts to find revenue beyond the screen. The research team maintains an "equal weight" rating on the sector, expecting earnings in 2026-2027 to keep growing but only modestly, in line with overall advertising spending that is still recovering weakly, while near-term upside remains limited by the lack of new catalysts and economic uncertainty.

Sphere Entertainment Co. announced the debut of enhanced and expanded 4D effects for The Wizard of Oz at Sphere, adding animatronic Winged Monkeys, themed scents, scented apples, pyrotechnic fireworks and "Glinda Glitter." The new effects build on the experience that has run since The Wizard of Oz at Sphere opened in Las Vegas on August 28, 2025. The enhanced show arrives as The Wizard of Oz at Sphere surpasses over half a billion in ticket sales, with more than 4 million total tickets sold since its debut. Tickets are on sale now through the beginning of 2027 at thesphere.com. Sphere Entertainment Co. is a leader in immersive experiences, technology and media, and operates Sphere in Las Vegas, with plans announced for Sphere venues in Abu Dhabi and National Harbor.