iWorld
Netflix to contribute $1 mn to the Producers Guild of India Relief Fund
MUMBAI: In response to the shutdown of film and TV production in the country since last month, which left thousands of crew and cast without jobs, streaming giant Netflix has announced a contribution of $1 mn (approximately INR 7.5 crore) to the Producers Guild of India (PGI) Relief Fund.
The fund, set up last month by PGI, will provide emergency short-term relief to thousands of daily wage earners in the Indian creative community, who have been directly impacted by the closure of productions in the country due to the pandemic. This will include workers in lighting, and setting and electricians, carpenters and spot boys, many of whom are paid hourly wages and work on a project-to-project basis.
In addition to the $1 mn contribution to the relief fund, Netflix has also committed up to four weeks of pay for all core below-the-line crew who were scheduled to work on Netflix’s productions in India.
Producers Guild of India President Siddharth Roy Kapur said, “In the past month with all productions grinding to a halt, thousands of daily wage earners associated with the Indian film and TV industry have seen their livelihoods disappear overnight. I am proud of and thankful to the entire fraternity for contributing to the fund we have created to support our colleagues at this difficult time. We value Netflix’s generous commitment to this fund and their resolve to help those who need our help the most.”
A Netflix spokesperson said, “We’re proud to work with the Producers Guild of India to support the hardest hit workers in TV and film production – from electricians to carpenters, hair and makeup artists to spot boys. Crews in India have always been vital to Netflix’s success and now we want to do our part and help those who most need support in these unprecedented times.”
In March 2020, Netflix announced a $100 million fund to help with hardship in the creative community. The majority of this fund will go to support the hardest hit workers on Netflix’s own productions globally. To support the wider film and TV industry, $15 million of this $100 mn global fund will go to non-profits providing emergency relief to out-of-work crew and cast in the countries where Netflix has a large production base. The $1 mn contribution to the Producers Guild of India Relief Fund is part of this $15 mn fund.
Netflix chief content officer Ted Sarandos while announcing the $100 mn relief fund, said, “What’s happening is unprecedented. We are only as strong as the people we work with and Netflix is fortunate to be able to help those hardest hit in our industry through this challenging time”.
Gaming
Sony raises PS5 prices for second time in under a year
US disc edition jumps $100 to $649.99 as memory costs surge.
MUMBAI: Sony just hit the pause button on affordable gaming because when memory prices skyrocket, even the Playstation has to pay the premium. Sony has announced its second price increase for the Playstation 5 range in less than a year, citing pressures in the global economic landscape and a sharp rise in memory component costs driven by AI demand.
In the US, the PS5 disc edition will rise from $549.99 to $649.99, a $100 hike while the digital edition increases to $599.99. The more powerful PS5 Pro will jump $150 to $899.99. The Playstation Portal remote player will also rise by $50 to $249.99. The new prices take effect on 2 April 2026.
Similar increases have been applied in the UK (£90 per model), Europe and Japan. Sony last raised PS5 prices in the US in August 2025.
“We know that price changes impact our community, and after careful evaluation, we found this was a necessary step to ensure we can continue delivering innovative, high-quality gaming experiences to players worldwide,” Sony said in a blog post.
The hikes come amid an unprecedented surge in memory prices, as manufacturers prioritise supply for AI data centres. Analysts say Sony had likely secured price protections for components that have now expired, forcing the company to protect its hardware margins.
Ampere Analysis research director of games Piers Harding-Rolls told CNBC that further increases from Microsoft and Nintendo would not be surprising, though Nintendo may hesitate to raise the price of its recently launched Switch 2 while establishing the new platform.
The increases arrive eight months before the highly anticipated release of GTA 6, which is expected to drive strong console sales. However, early reactions online have been a mix of disappointment and resignation, with growing concern that premium gaming is increasingly becoming a hobby for higher-income players.
In a sector already grappling with tariffs, inflation and component shortages, Sony’s move underscores a tough reality: even the most popular consoles are not immune to the rising cost of keeping up with the latest technology.
