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Monday - May 26, 2008 |
Sheetal Patel - Televisionpoint.com | Mumbai
![]() Global entertainment and media industry is expected to increase at a 6.3 per cent compound annual growth rate (CAGR) to $1.7 trillion in 2008, according to a study by Pricewaterhouse Coopers. In the next 4 years, the Asia Pacific region is emerging as a key driver of media and entertainment industry. This growth is fuelled largely by India and China, both of which are investing heavily in communications and media infrastructure and opening up their markets. Both countries have huge populations and low media penetration, providing significant room for expansion. The Asia - Pacific region's video games and Internet segments will be the world's largest and fastest growing, and television distribution will benefit from the addition of 96 million multi-channel households in India and China. Standing at Rs 20, 000 crores ($ 4.65 billion) today, and expected to grow at an 18 per cent compound annual growth rate (CAGR) to reach more than Rs 45, 000 crores ($ 10.46 billion) in 2009, entertainment industry in India has outperformed the Indian -economy and is one of the fastest growing sectors in India. Needless to say, such a fast developing sector would have far reaching socioeconomic impacts. In terms of popularity, the Indian media and entertainment goes well beyond the geographical. The Indian film industry has grown multi- dimensional with unique blend of commerce, art, craft, star glamour, social communication, literary adjuncts, artistic expressions, performing arts, folk forms and above all a wide- ranging and abiding appeal to the heart, the mind and the conscience. Today, India makes almost 1,000 feature films, every year, making it the largest film producing country in the country. Over 15 million people see the films, every day. Riding on the economic growth and rising income levels that India has experienced during the past few years, the Indian entertainment industry is one of the fastest growing sectors of the Indian economy. Next generation technologies will reinvigorate maturing segments and drive media- entertainment growth. Digital television is replacing analog, thus expanding the potential market for advertisers and subscribers: online and wireless video games are bridging the gap until the introduction of new console platform scheduled for 2006-2007, and digital audio broadcasting (DAB) and satellite radio are helping attract new national advertisers. Segments of Entertainment and Media Films The Indian film industry has now grown multi dimensional with unique blend of commerce, art, craft, star glamour, social communication, literary adjuncts, artistic expressions, performing arts, folk forms and above all a wideranging and abiding appeal to the heart, the mind and the conscience. Today, India makes almost 1,000 feature films, every year, making it the largest film producing country in the country. The art of filmmaking is a team work which needs close coordination of various skilled individuals. It involves acting, producing, script writing, cinematography, sound recording, visual mixing, editing and so on thus providing huge opportunities for one to choose from. Television Television has dominated the entertainment and media industry and continues to have the potential to do so even in the future. With over 200 million homes, television today reaches to over 100 million homes. The growth in the appetite of television homes to get a cable connection is ever-increasing with the changing demographics and economic status in not just the 'A' class cities but also the 'B' and 'C' class cities. Radio Currently, is the most cost effective mass communication medium in the country. The Indian radio industry of about $ 53 million is expected to grow at 22 per cent in coming year. This sector has become the hottest sector for investments amongst the entertainment and media industry. Music The Indian music industry has a unique structure unlike most other global markets. Earlier the music market was completely dominated by the film music, however, in the past few years, the success of music videos and non-film albums is driving growth in the Indian music market. The Indian music market is estimated to be about $ 149 million in legitimate sales of music cassettes and CDs and is pegged to grow at 3 per cent over the next 5 years. Print Media The print media industry, comprising newspaper and magazine publishing, is projected to grow from the present size of Rs 128 billion to Rs 232 billion by 2011, implying a 13 percent cumulative growth over the next five years. With the literate population on the rise, more people in the rural and urban areas are reading newspapers and magazines today. Foreign media too is evincing interest in investing in Indian publications. And the internet today offers a new avenue to generate more advertising revenues. Theatres Currently there are more than 150 digital theatres. Digital prints are cheaper (estimated to be one-fourth of regular celluloid prints), of better quality and less vulnerable to piracy. The conversion of standalone single- screen theaters to multiplexes within and around the shopping malls and family entertainment centres, is an emerging trend in urban India today. Events Globally, the Events Industry is having an unprecedented growth and is probably one of the fastest and the most upcoming sectors in India capable of generating considerable economic benefits and employment opportunities. Job Prospects Candidates can find employment with film studios, production companies, advertising agencies, and government departments which make films or star their own venture as producer, director, editors, cameramen, soundmen, lighting crews, assistants, and so on. Options Galore There is a vast array of job opportunities in the booming media and entertainment industry starting covering many departments such as production, direction, editing, and acting, animation, light & sound and related fields, location manager, event manager, besides in many other activities. In the production department, one could be a producer, executive producer, co-producer, associate producer, production manager, line producer, production supervisor and an administrative producer. |
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