Business
Kodak faces financial struggles even as Gen Z sparks a film resurgence
Rolls of Kodak Gold film hang on a shelf at the Precision Camera & Video store on August 12, 2025 in Austin, Texas.
Brandon Bell | Getty Images
Clair Sapilewski has dozens of rolls of camera film ready to use in her cupboard at all times.
A photography major at American University, the 21-year-old said she always keeps her film stocked to achieve that aesthetic that only film cameras can capture.
“It teaches you how to slow down, how to look at things more carefully and how to choose your shots more wisely,” she said.
It’s part of an ongoing trend as members of Generation Z have taken an interest in film cameras. Sapilewski said while her professors taught her the basics, she and her friends have used their film cameras to develop photos that their iPhones can’t quite replicate.
And in her college circle, the most popular brand for camera film is Eastman Kodak, a company she calls a “household name.”
“Pretty much everybody uses Kodak films — the average film user, when they reach for film, is going to reach for Kodak,” Sapilewski said.
But on the other side of the lens, Kodak may be singing a different tune.
The 133-year-old photography company indicated in its second-quarter earnings report on Monday that its finances “raise substantial doubt” in its ability to continue operations as a going concern.
The company reported a net loss of $26 million, down 200% from net income of $26 million for the second quarter of 2024. Kodak also posted a 12% decrease in gross profit with millions in debt obligations.
“Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms,” the company wrote in a regulatory filing.
Shares of the company are down more than 15% year to date.
Kodak plans to terminate its retirement pension plan and a company spokesperson told CNBC that Kodak aims to use money that it will receive from the settlement to pay off its debts.
“Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations,” the spokesperson said.
This isn’t the first time the company has faced struggles.
Founded in Rochester, New York, in the late 1800s, Kodak rode the wave of photography with a goal of simplifying the process for consumers. But as the era of digital technology took over, the company faced increasing struggles with staying relevant as cameras moved beyond film and disposables.
In the 2000s, the company tried to keep up with the growing trend of digital cameras but struggled, according to Melius Research analyst Ben Reitzes, who said Kodak was ignoring concerns at the time about the evolving macroenvironment.
“Digital technology wasn’t ready right away to cut sales of film — but common sense told us differently,” Reitzes wrote in a March note. “At the time, Kodak management told us that film would co-exist with digital cameras and more photos would be taken — and more would need to be printed by Kodak.”
Instead, Kodak filed for bankruptcy in 2012. It reemerged a year later in 2013 with four main business components: print, advanced materials and chemicals, motion picture, and consumer, which includes cameras and accessories.
A ‘rebellion against digital perfection’
In recent years, however, the retro camera trend has been seeing a resurgence.
In 2020, then-General Manager Ed Hurley told NBC News that Kodak made more than twice the number of film rolls in 2019 than it made in 2015.
And on last year’s third-quarter earnings call, Kodak CEO Jim Continenza said the company was experiencing such high demand for film that it needed to upgrade its Rochester factory.
“Our film sales have increased,” Continenza said at the time. “As we continue to see our commitment and our customer commitment to film, still and motion picture, we are going to continue to invest in that space and continue with that growth.”
According to Fortune Business Insights, the global cinema camera market size is fast growing and estimated to reach $535 million by 2032. The Global Wellness Institute named “analog wellness” — including pre-digital technology — its top trend for 2025.
That growth has been driven in large part by Gen Z, which has turned to old-school aesthetics in what’s been a “divorce” from the hyperrealism of digital photography, according to Alex Cooke, the editor-in-chief of Fstoppers, a photography news site.
“I think there’s this rebellion against digital perfection where film feels real in this kind of hyper-curated Instagram and TikTok world, where images are filtered and Facetuned and algorithm-tested,” Cooke said.
For members of Gen Z, who grew up in the smartphone age, Cooke said this type of photography brings a “nostalgia without lived experience,” where younger people are romanticizing a slower culture and breaking the instant feedback loop.
The aesthetics of film are also at play, Cooke added, with the unique colors and grains capturing something a smartphone could not. Ironically, social media even feeds into amplifying the trend, he said.
Using film cameras and developing that film also plays into a Gen Z trend of digital minimalism, according to Digital Camera World U.S. Editor Hillary Grigonis.
As a professional photographer, Grigonis said she’s seen Gen Z lean into the feeling of “disconnecting” when using film, which provides a more tangible photography experience than smartphones.
“Part of the rise in film photography among Gen Z is likely from that desire to disconnect and the craving for that retro aesthetic,” Grigonis said, adding that she was surprised at Kodak’s financial struggles given the overall rise in demand.
For 25-year-old Madison Stefanis, Kodak was her entry point into the camera world. A Gen Z herself, Stefanis created 35mm Co, a film camera company specifically aimed at making the photography style easy and accessible for her generation.
Stefanis said she’s seen that younger people are leaning into the emotional connection created by the delayed gratification of waiting for photos to be developed, something that’s become “lost in the digital age.”
Because she’s seen Gen Z driving the resurgence of film, Stefanis said she was “shocked” at Kodak’s declaration about its ability to continue as a going concern.
“Gen Z are really craving something they can hold in their hands,” she said. “These days, at least for myself, most of my memories live either in my mind or in my phone, so I think having actual tangible, physical objects where we can store our keepsakes and those key moments feels really special to my generation.”
Beverage and cannabis company Tilray acquires the brewery, the brand and 11 bars after Brewdog went into administration.
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Gas prices have leapt at the fastest pace since the outbreak of war in Ukraine, after Qatar halted production of liquified natural gas after attacks by Iran.
Oil prices also soared and global financial markets reeled from the fallout of an intensifying conflict between Iran and US-Israeli forces.
European whole gas prices soared by 52% on Monday, marking the sharpest rise since prices were pushed dramatically higher by the Russian invasion of Ukraine in March 2022.
The surge came after Qatar’s state-backed energy company QatarEnergy said it “ceased production” because of attacks on its facilities.
Qatari ministers had said earlier on Monday that an Iranian drone had attacked one of the company’s production facilities.
Qatar is a major producer of LNG, cooled gas which can be transported via ships, responsible for about a fifth of global supplies.
On Monday in London, the price of natural gas for delivery in April was up by about 43% to 115p per therm.
In the UK, gas prices are a key driver for the cost of domestic energy bills, indicating that a sustained spike could affect households in the coming months.
Neil Wilson, Saxo UK investor strategist, said: “Qatar is a top three LNG exporter, controlling roughly a quarter of expected supply over the next decade.
“Looks like Iran’s tactic is to pressure Gulf states so they in turn pressure the US and Israel to back off.
“I am much more concerned about European natural gas prices than oil prices, in terms of seeing a repeat of the 2022 European energy crisis.”
Global financial markets faltered after intense strikes across the Middle East and attacks on ships drove fears of energy supply disruption.
London’s FTSE 100 was weaker as trading was knocked by the growing conflict between Iran and US-Israeli forces.
The blue chip share index shed 130 points, closing 1.2% lower at 10,780.11.
Other European indexes suffered bigger drops with France’s Cac 40 down about 2.2% and Germany’s Dax tumbling 2.4% on Monday.
But it was a more tentative start to trading over on Wall Street with the S&P 500 relatively flat, and Dow Jones dipping by about 0.1% by the time European markets had closed.
Israel launched strikes on Lebanon’s capital Beirut on Monday after missiles were fired by militant group Hezbollah.
The latest strikes came after the US and Israel hit targets across Iran on Sunday as part of an intensifying military campaign which followed the killing of Supreme Leader Ayatollah Ali Khamenei.
Oil supplies could be affected by the conflict after Iran reportedly warned tankers on the strait of Hormuz that no ships would be allowed to pass through.
UK Maritime Trade Operations Centre officials said that two vessels have been struck near to the key trade artery.
The Strait of Hormuz is used by tankers carrying about one fifth of the world’s oil supplies and seaborne gas.
On Monday, the price of Brent crude oil soared by as much as 13%, rising above 82 dollars a barrel, before paring back.
It was 8.4% higher at 79.2 dollars a barrel shortly before 2pm, before easing slightly to be 5.5% higher at 76.9 dollars a barrel by early evening.
Nevertheless, City analysts have said the markets have been relatively contained so far in reaction to the conflict.
Chris Beauchamp, chief market analyst at IG, said: “While we have seen a significant surge in oil prices since markets opened last night, the gains appear contained for now as we wait to see if shipping through Hormuz can continue at lower levels or will be blocked entirely.
“Oil and gas infrastructure in the region has not yet been extensively targeted, keeping oil well south of the 100 dollar barrel range that many expected as a result of the weekend.”
Meanwhile, the pound dipped in value against the US dollar to its weakest level since December.
The fall is partly linked to the strength of the dollar, with investors pouring funds into the US “safe haven” currency.
The pound was down about 0.8% at 1.338 versus the dollar during the day, before parring back some losses to be down around 0.3% at 1.34 against the dollar by early evening.
London stocks were broadly weaker, with travel stocks among those dropping particularly sharply.
Cruise giant Carnival slid by 8%, while airline firm IAG, the parent firm of British Airways, dipped by 7.6%.
Rival Wizz Air, which typically runs flights to Dubai and Abu Dhabi, was also down 7.3% in early trading on Monday, while travel-focused retail groups SSP and WH Smith were also firmly lower.
However, defence stocks were among the gainers, with BAE Systems lifting by 7.4% to 2,268p.
Elsewhere, oil and energy stocks were also stronger – Shell and BP rose by 4.5% and 3.5% respectively as prices lift.
International stock markets also opened weaker after the start of trading, with the Nikkei 225 in Tokyo falling by 1.5% after Asian markets opened.
Business
Oil prices spike! Will petrol, diesel rates be hiked in India as crude nears $80 mark on Middle East tensions? – The Times of India
Internationally, oil prices have risen by around 9-10% following Israel-US strikes on Iran, and amid the rising tensions in the Middle East are likely to remain elevated. Does that mean that petrol and diesel prices in India will go up?Brent crude, the international benchmark, moved close to $80 per barrel, while US crude futures advanced 8.6 per cent to $72.79, compared with roughly $67 on Friday.
India, which meets about 88% of its crude oil demand through imports before refining it into fuels such as petrol and diesel, faces a higher import burden when global prices rise, along with possible inflationary effects.
Middle East tensions : Will petrol, diesel prices go up?
Despite the sharp increase in global oil prices, retail petrol and diesel prices in India are not expected to be revised upward in the immediate future, according to a PTI report.According to sources quoted in the report, the government is maintaining a calibrated approach that allows oil marketing companies to improve margins during periods of lower international prices while protecting consumers when global rates increase.Also Read | Middle East oil shock risks: How much do China, India, Japan depend on Middle Eastern crude, gas?Pump prices for petrol and diesel have remained unchanged since April 2022. During this period, state-run retailers including Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd have absorbed losses when crude prices were elevated and benefited when prices declined.As a result, domestic fuel prices have stayed steady even when global fuel rates climbed due to higher crude costs. Likewise, when international fuel prices softened in line with lower crude, retail rates in India did not see a reduction.Sources added that the government intends to continue shielding consumers under this policy framework, unless crude prices witness an exceptionally sharp surge.With assembly elections approaching in key states such as West Bengal, Tamil Nadu and Assam, the government is keen to avoid developments that could provide political ammunition to the opposition, the report said.
India assesses oil security
Amid intensifying hostilities in the Middle East, Oil Minister Hardeep Singh Puri on Monday assessed the crude oil, LPG and petroleum products situation in a meeting with senior officials from his ministry and executives of public sector oil companies.
Importance of Hormuz for global oil flows
Much of India’s crude oil and gas supplies transit through the Strait of Hormuz, which Iranian authorities have threatened to close following US and Israeli strikes.“They have sufficient buffers to manage this kind of price spike,” a source with direct knowledge of the matter said, referring to oil companies. “We witnessed crude touching $119 per barrel in June 2022 after Russia’s invasion of Ukraine. That year their profits were modest, but in FY24 they recorded a record profit of Rs 81,000 crore.”Should interruptions continue, cargoes may need to be diverted around the Cape of Good Hope, resulting in longer transit durations and higher transportation expenses, along with increased freight and insurance costs.According to media accounts, the ongoing hostilities have in effect shut down the Strait of Hormuz, the vital artery for worldwide energy transportation. Nearly one-third of global seaborne crude oil exports and around 20 per cent of liquefied natural gas cargoes pass through this narrow channel.Also Read | 1970s-style oil shock loading? Crude may hit $100 if Strait of Hormuz shuts amid Middle East tensions – what it means
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