Start by creating a rectangle using rectangular shape tool.
Enable "subtract from shape area" at the top bar. Create a square using rectangular shape tool.
Similarly create more holes in the rectangular strip.
Duplicate layer and place as shown.
Select and merge both the layers. Duplicate layer and hide it. Press Ctrl+T. Right Click and select Warp. Select arc from the preset warp shape on the top bar. Apply settings as shown.
Create selection of top and bottom using lasso tool.
Press delete to remove the area under selection.
Unhide the duplicate layer. Press Ctrl+T. Right Click and select Warp. Select arc from the preset warp shape on the top bar. Apply settings as shown.
Again remove the area from top and bottom.
Create a few horizontal lines connecting both sides of the film roll.
Using pen tool create a semi oval shape and place as shown below.
