Air Taxis, Gen Z Moviegoers And Asian Cultural Boom | In Other News
CNBC's 'In Other News' covers four emerging trends: the slow and legally contentious path to certified electric air taxis, the surprising resurgence of movie-going driven by Gen Z, the explosive mainstreaming of Asian foods in American grocery stores, and the growing global popularity of South Asian music fueled by streaming and label investment.
Summary
The episode opens with an overview of the electric air taxi industry, noting that companies like Joby, Archer, and Beta have repeatedly pushed back certification timelines. Legal battles have compounded the challenges, with Joby suing Archer for corporate espionage, Archer countersuing over alleged illegal ties to Chinese suppliers, and Archer filing a patent infringement suit against UK-based Vertical Aerospace. Investor sentiment has soured, with Joby and Archer stocks down over 20% and Beta down roughly 60% from its public debut. Despite this, progress is being made: Joby conducted passenger-less demo flights over New York City, and Archer is targeting 2028 as an official Olympics partner in Los Angeles. A Trump executive order and an FAA pilot program are helping create certification pathways, with a goal of beginning commercial flights by next summer.
The second segment highlights a notable revival in U.S. movie-going, with domestic box office revenue up over 12% year-to-date and attendance up nearly 6%. Gen Z is identified as a primary driver, averaging about seven movies per year and comprising roughly 40% of all North American audiences in 2025. This generation treats cinema as a social experience and a 'third space,' gravitating toward premium formats like IMAX and Dolby, and subscription programs like AMC Stubs. The social platform Letterboxd, with 29 million users and more than half under 35, has helped cultivate a film culture among younger audiences. Economic pressures, including inflation and geopolitical tensions driving up prices, remain a risk, though ticket prices are still competitive compared to concerts and festivals.
The third segment examines the $37 billion Asian food market in the U.S., now found in mainstream retailers like Whole Foods, Trader Joe's, and Aldi. Key drivers include the doubling of the U.S. Asian population since 2000, younger consumers' appetite for diverse and authentic experiences, and the health halo surrounding fermented and plant-based Asian staples. TikTok is cited as a powerful force amplifying food trends. Specialty chains like H Mart, 99 Ranch, and Patel Brothers are now competing with mainstream grocers expanding their Asian product lines. Whole Foods named international snacks its top food trend of 2025, with Asian flavors dominating new product launches.
The final segment explores the rise of South Asian music in Western markets. Warner Music Group's Five Junction label, created by industry strategist Anjula Acharya, is investing in South Asian talent to bring it to global audiences. Artists like Fatah and Riya Raj are gaining international traction, with Spotify reporting a 2,000% increase in streams of Indian artists in international markets between 2019 and 2023, and 50% of royalties from Indian artists on Spotify coming from outside India in 2024. The global music industry crossed $30 billion in revenue in 2025, with nearly 70% from streaming. Industry insiders draw parallels to the rise of Afrobeats, Latin music, and K-pop, suggesting South Asian music is poised for a similar global breakout moment.
Key Insights
- Archer accused Joby of fraudulently misclassifying supplies from Chinese suppliers to evade U.S. tariffs and oversight, escalating legal tensions in the air taxi industry beyond typical competitive disputes.
- Gen Z moviegoers averaged about seven films per year in 2025 and made up roughly 40% of all North American audiences, disproving the assumption that this generation prefers staying home with small screens.
- Letterboxd, a movie-focused social platform with over 29 million users and more than half under age 35, is credited with helping cultivate a film-going culture among Gen Z by making movies a social and communal activity.
- Indian brand Gymkhana was so popular at Whole Foods that its sales lifted the entire Asian food subcategory, illustrating how individual breakout products can elevate an entire aisle's performance in mainstream grocery retail.
- Spotify reported that 50% of all royalties generated by Indian artists on its platform in 2024 came from listeners outside India, signaling that South Asian music has already achieved meaningful global crossover without a mainstream Western label push.
Topics
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