The year in retrospect – for the entertainment industry, in the smaller towns and cities and elections in the Hindi heartland provided a boost. In 2014, with general elections, the news business is likely to have a good year.
Radio too, had a good year with better long term prospects. The government disappointed again on Phase III licensing – which is now likely to come only after the elections. The industry continues to require regulatory interventions as it is in dire need of reform. FM radio nevertheless, is now becoming an integral part of many media plans.
The big hope for the future of the M&E industry continues to be digital. With a fast growing internet user base of over 200 million internet users, the potential of the industry to enhance engagement with customers and generate revenue from digital media is indeed vast. 2013 saw a few tipping points for digital; the telecom companies began to focus on data as a revenue driver, as contribution from voice slowed, and the advertising agencies began a furious competition to acquire digital and social media boutiques. All of these point to a bright future for this sector.
This year we also cover several new interesting aspects of the M&E sector. Over the years, live events has been emerging as a robust category. Last year saw Indian audiences flocking to shows by international DJs, musicians and comedians. IP driven shows also show record viewership and attendance.
Live events have become a major source of revenue for artistes and a credible avenue for sponsors. Several companies in this space are heading towards critical mass and are poised to take the sector forward.
We have covered advertising and the evolution of the agency space. These stakeholders in the M&E business are influential. We hope that the insights into the value chain of this part of the media sector will be beneficial for several users of this report.
It is time for Indian companies in the M&E sector to begin looking at opportunities outside India. While several companies have gone overseas in search of the diaspora dollar, there are opportunities that Indian companies could begin to explore in mainstream markets overseas. For example, Africa and the Middle East are some of the fastest growing M&E markets. As companies in other sectors have shown, the experience of working in India is an asset when entering these markets – Indian M&E companies could do well to explore the MEA region.
This is the 15th year of FICCI Frames – a milestone for a forum that is the M&E industry’s premier gathering to debate issues, discuss ideas, study benchmarks and most importantly initiate action!
As we take stock of business issues at this year’s Frames, we should also focus on the role that Media plays in influencing, driving and being an agent of positive change.
UDAY SHANKAR – CHAIRMAN FICCI Media and
Entertainment Committee:
RAMESH SIPPY
CO-CHAIRMAN
FICCI Media and Entertainment Committee
KARAN JOHAR CHAIRMAN FICCI Frames
JEHIL THAKKAR – HEAD Media and Entertainment KPMG in India
