New Delhi, Delhi, India
The curtains will go up on FRAMES 2008, the biggest Global Convention in Asia on the Business of Entertainment, on March 25, 2008 in Mumbai as over 2500 Indian and foreign delegates from nearly 20 countries engage in seminars and networking business sessions and social get-togethers spread over three days.
FRAMES 2008 will unfold against the backdrop of a 17% growth in the Indian Entertainment & Media (E&M) industry in 2007 over the previous year. The industry reached an estimated size of Rs. 513 billion (Rs. 51, 300 crore) in 2007, up from Rs. 438 billion in 2006. In the last four years 2004-2007, the industry recorded a cumulative growth of 19% on an overall basis, according to the FICCI- PricewaterhouseCoopers 2008 Report on Indian Entertainment and Media Industry 2008.
Delegates from 17 countries have already registered for the mega event, namely, Australia, Canada, France Germany, Greece, Hong Kong, Italy, Malaysia, Pakistan, South Africa, Thailand, UAE, the UK, USA, Korea, Switzerland, and New Zealand.
With nearly 30 sessions on topical themes, FRAMES 2008 will capture the essence of where the industry is positioned today and show the way forward. The topics that will come up for discussions are:
-- Changing face of TV news
-- Resurgence of the language media
-- Developing animation content
-- New age technology and emerging production pipelines in animation
-- Raising capital
-- Linguistic diversity in Indian cinema
-- Radio for the masses
-- Scope of international co-productions
-- Talent crunch in the industry
-- Film marketing & distribution
-- Importance of digital cinema
-- Animation, IP creation, protection and life cycle
-- Visual effects
-- Mobile entertainment
-- Sports as entertainment
-- Revenue streams in multiplexes
According to Dr. Amit Mitra, Secretary General, FICCI: "With FRAMES, we monitor the growth of the entertainment industry on an annual basis. Growth in 2007 has indeed been robust, with expansion of the radio and TV recording a CAGR of 22% and 18%, respectively. We can proudly say that our networking with the government and industry segments is paying rich dividends. It is now for the industry to fan out and have a global outreach. FICCI FRAMES, of course, would handhold the players in their quest for becoming world players."
FRAMES 2008 will be flagged off on March 25, 2008 by the Union Minister for Information & Broadcasting, Mr. Priyaranjan Dasmunsi. The inaugural session will be addressed by eminent speakers like Ms Viviane Reding, European Commissioner, Information Society & Media, European Commission; Mr. Stewart Beck, Assistant Deputy Minister, Investment, Innovation and Sectors, Foreign Affairs and International Trade, Canada; Mr. Dominique Dreyer, Ambassador of Switzerland to India; Ms. Asha Swarup, Secretary, Ministry of Information & Broadcasting, Govt. of India; Mr. Yash Chopra, Chairman, FICCI Entertainment Committee & Chairman, Yashraj Films Pvt Ltd; Mr. Kunal Dasgupta, Co-Chairman, FICCI Entertainment Committee & CEO, Sony Entertainment Television; and Mr. Amit Khanna, Chairman, Reliance Entertainment Pvt. Ltd. And Chairman, FICCI Convergence Committee.
The partner country for FRAMES 2008 is Switzerland.
The FICCI-PricewaterhouseCoopers 2008 Report notes that the advertising industry contributed a share of 38% in the overall industry revenues of 2007, up by a percentage from 37% in 2006. The advertising industry itself recorded a growth of 22% over the previous year and thus contributed an estimated Rs. 196 billion in 2007 as compared with Rs. 161 billion in 2006. In the last four years 2004-2007, the advertising industry recorded a cumulative growth of 20% on an overall basis.
As per the report, the upbeat mood in the industry attracted attention from domestic and foreign investors who desired to be a part of this transforming industry. The E&M industry saw several deals in the year with the largest deal being the investment of Rs 11 billion ($259 million) by Temasek Holdings investing in Inx Media, a TV broadcast company. Other significant investments included Rs.7 billion ($166 million) by South Asia Entertainment Holdings Ltd. (a group company of Astro All Asia Networks Plc) in Sun Direct TV for a 20 per cent stake.
The report points out that the migration to digital formats is accelerating and this trend is likely to emerge in India too. Distribution of entertainment and media content over digital and mobile platforms-online digital streaming, digital movie/TV downloads, video-on-demand, music downloaded from the Internet, music downloaded to wireless phones, online advertising, online video games, wireless video games, and online gaming is likely to rise significantly in the next five years.
The industry saw the entry of new players and existing players expanding by diversifying into new segments, spreading their presence across value chains, broadening their horizons by increasing their geographic presence.
"Digitalization is the future for most segments and companies have to adopt this revolution with appropriate infrastructure, relevant business models, and technology upgradation along with associated costs. The pace of adoption will determine industry dynamics." said Timmy Kandhari, Executive Director and Leader TICE (Technology, Infocomm and Entertainment & Media) Practice, PricewaterhouseCoopers in India, while commenting on the future outlook for the industry.
As digitization sets in, it will lead to reduction in costs for content and delivery in the long run, shifting the emphasis on quality content, he added.
The following are the key findings of the report:
-- The advertising industry is experiencing a paradigm shift with digital platforms enabling to reach the critical mass. This had resulted in consumers shifting from passive mediums to spending more time on digitally interactive mediums. Internet and mobile are two keys enablers for the same. Internet advertising is estimated at Rs 4.2 billion in 2008 growing at 32% CAGR, expected to touch Rs 11 billion in 2012.
-- The print industry was consistent in its growth at 12%, with a current estimated size of Rs 141 billion. Magazines as a sub segment manifested growth potential with several new launches this year.
-- The television industry is estimated at Rs.261 billion growing at 18 % CAGR. Television distribution being the largest sub-segment is estimated at Rs.167 billion growing at 21% to reach Rs.350 billion in 2012. It is transforming with digitalization of distribution networks through increase in DTH subscribers and a sluggish adoption of CAS. The numbers of DTH households are growing substantially at 44% CAGR.
-- Filmed entertainment business has experienced many changes in the recent times, which are improving the processes and functioning of the industry .The advent of studios , increasing corporate participation , new technology have contributed significantly to this transformation. The overall industry is estimated at Rs.110.8 billion growing at 13 % CAGR with alternative sources of revenue other than domestic box office collections acting as the major growth drivers. Overseas revenues and Home Video are growing at above 15% CAGR manifesting immense potential for the future.
-- Radio which is currently estimated at Rs 7.5 billion is growing at a healthy rate of 22% CAGR. More than 100 private channels have launched across the country increasing the spread of radio.
-- The music industry is witnessing stagnancy with physical unit sales but it's singing a new tune with digital music and mobile music manifesting immense growth potential. OOH media is also experiencing positive changes with advent of technology combined with new display sites registering a growth of 16 % last year with an industry size of Rs 14.5 billion.
-- There is a lot action happening in terms of alliances and new ventures in the Animation and Gaming segments. Animation is estimated at Rs.15.6 billion growing at 25% CAGR, while gaming is estimated at only Rs. 4 billion currently but it is growing significantly at 39% CAGR. The major contributors to the 39% growth are likely to be mobile and online gaming.
Source: Federation of Indian Chambers of Commerce and Industry (Business Wire India)
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