Category: iWorld

Mumbai: Mumbai’s ultimate destination mall Phoenix Marketcity Mumbai is known for curating the best experiences for its customers and for hosting the most spectacular Indian and international concerts in the city. In keeping with the high-energy performances, Sanam, the renowned Indian music band is all set to enthrall fans with an electrifying live performance at their favorite indoor venue partner Dublin Square.

Known for their soulful renditions of classic Bollywood songs and their original compositions, Sanam lead by vocalist Sanam Puri along with Samar Puri on lead guitar, Venky S on bass guitar, and Keshav Dhanraj on drums, has garnered a massive fan base both in India and abroad. The concert promises to be an evening filled with soulful melodies, electrifying performances, and an atmosphere of sheer musical magic. Fans can expect to be enthralled by Sanam’s unique blend of contemporary pop, rock, and Sufi music, all delivered with their signature style and captivating stage presence. 

Don’t miss out on the opportunity to witness Sanam Live in concert, an experience that will leave you spellbound and craving for more!

Date: 21 July 2023
Time: 7 pm
Venue: Dublin Square, Phoenix Marketcity Mumbai
Price: Rs 799 onwards 

Tickets: https://in.bookmyshow.com/events/sanam-live-in-concert/ET00361766

Mumbai: India’s Entertainment & Media industry is expected to reach Rs 6,828,944Cr (US$73.6bn) by 2027 at 9.48 per cent CAGR. These figures come from PwC’s Global Entertainment & Media Outlook 2023-2027, the 24 annual analysis and forecast of E&M spending by consumers and advertisers across 53 territories in 13 sectors.

PwC India, chief digital officer and leader of technology, media & telecom, Manpreet Singh Ahuja stated, “As the adoption of emerging technologies such as AI, ML and the metaverse increase, the range of use cases will broaden, leading to a significant disruption in the media industry. Media companies and content creators are already striving to provide more interactive and immersive experiences to viewers. We anticipate that Media & Entertainment enterprises will invest heavily in the transformative ideas of the future to maintain relevance with their audiences.”

PwC India, partner & leader – entertainment & media, Rajib Basu said, “The Indian Media and Entertainment outlook for the next few years will show an exciting pace of growth. We have a good view of how the industry has reset itself after the pandemic. Increased mobile penetration and the use of digital technologies are poised to disrupt existing channels and create new possibilities in the years ahead for the sector. It is increasingly becoming important for traditional media and entertainment businesses to adopt the right strategies for growth as they face competition from digitally powered businesses.”

Key findings for India in this year’s Outlook include:

OTT Video: With new launches from international players and increasing “pay-lite” options, OTT revenue has surged in recent years, expanding a further 25.1 per cent in 2022 to reach INR 148,554Cr (US$1.8bn). This is over six times the revenue of 2018. The market will continue to grow at an impressive rate, increasing at a 14.3 per cent CAGR to produce revenue of INR 288,855Cr (US$3.5bn) in 2027. This will be driven by the competitive SVOD sector, which accounted for 78.1 per cent of market revenue in 2022. Although subscription service revenue will expand at a 13.0 per cent CAGR to reach Rs 214,578Cr (US$2.6bn), advertising-supported services (AVOD) will grow at a higher rate, albeit from a lower base.

Video games & Esports: India is the second-fastest-growing video games market in the world behind Pakistan. India’s total video games and esports revenue was INR 140,301Cr (US$1.7bn) in 2022 and is expected to reach Rs 346,626Cr (US$4.2bn) by 2027, increasing at a formidable 19.4 per cent CAGR. Year-on-year growth in 2022 was 28.8 per cent, a slight slowing of 2.1 percentage points over the previous year. Although growth will continue to slow across the forecast period, it will remain significantly faster than the global average.

Internet advertising: The Indian Internet advertising market is among the fastest-growing in the world, with a 12.3 per cent CAGR expected to see total revenue climb from Rs 363,132Cr (US$4.4bn) in 2022 to Rs 651,987Cr (US$7.9bn) by 2027. There will be growth across the market over the forecast period, with the strongest performances coming in the mobile sector, where an overall CAGR of 13.7 per cent is expected to push total revenue from Rs 255,843Cr (US$3.1bn) to INR 478,674Cr (US$5.8bn). In the wired sector, revenue will increase from Rs 115,542Cr (US$1.4bn) to INR 173,311Cr (US$2.1bn), at a CAGR of 8.9 per cent.

Newspapers & consumer magazines: India’s consumer book market will increase at a 3.7 per cent CAGR between 2022 and 2027, with total revenue increasing from Rs 90,783Cr (US$1.1bn) to INR 107,289Cr (US$1.3bn). Most of the growth will come from the electronic books sector, where revenue will see an impressive increase at a 10.3 per cent CAGR. In the print sector, growth will be more modest, with increase at a 1.7 per cent CAGR expected. Print still dominates the Indian market, accounting for 80.1 per cent of total revenue in 2022, with electronic books making up the other 19.9 per cent. Electronic books will gain ground over the forecast period, making up 27.2 per cent by 2027.

Out-Of-Home Advertising: India’s out-of-home (OOH) advertising market is rapidly expanding. In 2022 total OOH revenue increased by 63.4 per cent, this saw revenue valued at a new high of INR 56,202Cr (US$681mn). This pace will be sustained for years to come. An increase at a 9.9 per cent CAGR will outperform every other OOH market in Asia Pacific and the world over the forecast period. OOH has a low penetration rate in India and a number of hurdles have held back further development to date.

TV advertising: India’s TV advertising market recovered rapidly from the COVID-19 pandemic downturn, with revenue expanding 19.0 per cent in 2021 and 11.9 per cent in 2022 to reach INR 387,891Cr (US$4.7bn). There remains considerable room for growth with advertisers keen to access India’s vast population and large live audiences. TV ad spend will grow at a 6.4 per cent  CAGR to reach INR 536,445Cr (US$6.5bn) in 2027. At this time, India will be the fourth-largest TV advertising market globally, after the US, Japan and China. The market’s expansion continues to be based on economic development and an increasing proportion of households having television sets.

Cinema: The Indian cinema sector suffered badly during the COVID-19 pandemic but is now rebounding rapidly. Total cinema revenue in India was up sharply in 2022, reaching Rs 90,783Cr (US$1.1bn), up from INR 3317Cr (US$402mn) in 2021. Revenue is expected to reach INR 189,819Cr (US$2.3bn) by 2027 representing an increase at a 15.1 per cent CAGR. Admissions are also rebounding. They were at 379mn in 2021 but went up to 986mn in 2022 and are expected to reach 1.4bn by 2027.

Music, Radio & Podcast: India’s total music, radio and podcasts market passed the Rs 82,530Cr (US$1.0bn) milestone in 2022 to reach Rs 90,783Cr (US$1.1bn) and is forecast to reach Rs 123,795Cr (US$1.5bn) in 2027. Radio and recorded music revenue are the key drivers. As Indian consumers log onto their favourite streaming platforms en masse, the business for recorded music added over Rs 16,506Cr (US$200mn) in the five years to 2022. India’s relatively small live music market has rebounded, and eclipsed pre-pandemic results. Revenue from live is expected to come in at Rs 10,398Cr (US$126mn) in 2023 and lift to Rs 11,884Cr (US$144mn) by 2027, a CAGR of 5.5 per cent.

PwC Germany, Global Entertainment & Media Industry Leader, Werner Ballhaus said, “We have seen impressive growth in the entertainment and media industry over the past two years following a surge in demand for digital products during COVID-19. However, macroeconomic challenges, increased industry competition, and a reduction in production costs – particularly in digital services and experiences – have reduced revenues and consumers’ willingness-to-pay. If companies in the EM industry are to successfully engage consumers and drive growth, they need to transform their service-offerings and tap into new and emerging markets and technologies, such as Asia and generative AI.”

Applause Entertainment, managing director, Sameer Nair said, “At a macro level, with our population size, digital and financial connectivity, the ever-increasing appetite for content, and the overall economy growing, getting to $75 billion by 2027 seems doable.

The critical questions are however more micro and specific. Will theatres survive? Can OTTs alone support the movie industry? Have we maxed out on SVOD? How soon will linear TV die? Can the Digital Advertising business support all the platforms? Is the idea of quantity over quality programming viable? Will Gaming survive the Regulator? What new disruption in Content & Distribution is in the offing? Is AI really going to help reduce costs?

It’s actions and answers to questions like this which will decide the percentage split of the macro $75 billion in 2027, resulting in individual winners and losers, even as the industry grows.”

Mumbai: Amazon miniTV – Amazon’s  free online video service is all set to get the ball rolling and create waves in the dance community with its hip-hop-based dance reality show, Hip-Hop India. The platform has a glimpse of the contestants ready to set the stage on fire with their jaw-dropping performances. With anticipation already running high with the service unveiling Nora Fatehi and Remo D’Souza as the judges for India’s first Hip Hop centric reality show, the preview has taken the excitement levels significantly higher!

The quick peek promo shows Nora and Remo being wow-ed by the performances as participants across multiple categories  – Solo, Duo and Dance crews battle for the top honour.  The high-energy video also shows host of the show, Wicked Sunny a.k.a Vikalp Dwivedi, encouraging the participants to give it their all. Hip Hop India will stream from 21 July, exclusively on Amazon miniTV for free within Amazon’s shopping app and Fire TV.

Mumbai: The recent announcement by Disney+ Hotstar that smartphone users in India can watch this year’s Asia Cup and ICC Men’s Cricket World Cup for free on the OTT mobile platform, came as a pleasant surprise by both cricket and non-cricket fans. The Asia Cup 2023 will be held in September in India, and the Asian country will also host the ICC Men’s Cricket World Cup, which will last nearly two months, from 5 October to 19 November.

This strategic decision comes after this year’s IPL, which set record viewership numbers for both linear TV and digital platforms. The media rights for the games were split for the first time with Disney Star getting the TV rights and JioCinema nabbing the digital rights. Interestingly, JioCinema streamed it for free on their platform.

Disney+ Hotstar’s decision to make cricket free-to-view will reportedly benefit the 540 million smartphone users across the country. Interestingly, Disney Star has secured the broadcasting rights for all ICC tournaments till 2027.

A famous quote by French poet Anatole France which says, “The greatest virtue of a person is curiosity”, stays true till date. Many people are generated with curiosity to know whether this decision will affect linear TVs, SVOD revenue and also the reaction of various brands to this, will they be ready to invest more, medium or less etc.

To answer all this questions, Indiantelevision.com caught up with Havas Media India, president- investment & Havas Play, MD, R Venkatsubramanian to give some interesting insights on this decision…

Edited excerpts

On Hotstar maximising its revenues via free streaming of the World Cup on the mobile device

Hotstar, the leading sports platform in India, has been charging consumers to access sports content until now. They used to provide a free 5-minute trial for sports content, and around 380-400 million viewers took advantage of this offer during the IPL each year, while approximately 50-60 million viewers paid for IPL access. However, in 2023, JIO offered free access to watch the entire IPL match on Hotstar, resulting in over 400 million viewers.

With Hotstar offering free access to watch the ICC World Cup, they are expected to attract a larger audience from 2-tier and smaller cities. This expanded reach presents an opportunity to attract more brands, both big and small, for advertising on Hotstar. As a result, Hotstar can maximise its revenue.

On linear TV being consumed more widely than mobile phones and the strategy affecting linear TV

Hotstar’s decision to offer free streaming of the World Cup on mobile devices is expected to impact linear TV. Although linear TV still holds a wider consumer base, the popularity of streaming services, increasing smartphone ownership, and the trend of on-the-go content consumption are narrowing the gap between the two mediums. By providing free streaming on mobile devices, Hotstar is likely to accelerate the shift towards mobile viewing habits.

However, it’s worth noting that linear TV remains the primary medium for consuming sports and offers a cinematic experience. There are still individuals who prefer traditional TV viewing and will continue to do so. Broadcasters should continue producing content for the large screen, and live events will continue to attract a significant audience on linear TV. The key to success for linear TV lies in adapting to the evolving landscape, making their content accessible to mobile viewers, and finding ways to differentiate themselves from streaming services. Linear TV still holds significance, especially for impactful product launches by brands.

On SVOD revenue declining gradually by streaming free on mobiles as many will move towards free content rather than the paid subscription

It is true that streaming free content on mobile devices could lead to a decline in SVOD revenue. When high-quality free content is readily available, some individuals may be less inclined to pay for a subscription. However, it is important to consider that not all free content is equal in terms of quality.

SVOD providers can offer features that are not available with free content. For example, SVOD platforms can offer exclusive content, ad-free viewing, and the ability to download content for offline viewing. These features could make SVOD subscriptions more attractive to consumers, even if there is free content available. As the market for streaming services continues to grow and more people adopt SVOD platforms, there is still room for increased demand and the potential for differentiated content to make a significant impact. This could offset any decline in revenue caused by free content.

Overall, it is too early to say whether streaming free content on mobile devices will lead to a decline in SVOD revenue. SVOD providers can leverage unique features and the growing market demand to maintain their revenue streams and adapt to the evolving streaming landscape.

On brand’s reaction to this move whether they will invest here heavily as compared to IPL

The scenario of Dhoni lifting the IPL trophy compared to Rohit Sharma lifting the ICC World Cup trophy would indeed create a significant difference. ICC Trophy is very prestigious as compared to IPL and India will play against Pakistan and other strong teams. So yes, brands will definitely consider investing money in ICC WC and especially if it is happening in India.

Brands will have a positive reaction to Hotstar’s move to stream the World Cup for free on mobile devices. The world cup falls right in the middle of the festive, and it’s in the interest of the brand to make that investment and connect with key TG. Digital offers a great platform to reach the key TG allowing geo-targeting and demographic TG segregation, targeting both, youth and families.  It is most likely that some brands will invest heavily in the World Cup, as classically cricket offers a good return on their investment.

On the strategy of OTT platforms attempting to create free tiers in their services

Offering a free tier is a great way to attract new users to an OTT platform. This is especially true for platforms that are still relatively new or that are trying to expand into new markets.

Even if users only use the free tier, they are still more likely to become paying subscribers in the future. This is because they will be exposed to the platform’s content, and they will be more likely to want to access more of it.

Free tier does not generate direct revenue, it can still generate revenue indirectly. For example, platforms can show ads to users on the free tier, and they can also collect data about users that can be used to target them with advertising.

Free tiers should offer a limited selection of content. This will help to keep costs down and it will also help to ensure that users are more likely to upgrade to a paid subscription if they want to access more content.

Free tiers can also offer exclusive content. This will give users a reason to sign up for the free tier and it will also help to differentiate the platform from its competitors.

The process of upgrading from the free tier to a paid subscription should be easy and seamless. This will help to ensure that users who are interested in upgrading do so quickly and easily.

YouTube offers a free tier that allows users to watch a limited selection of videos with ads. Netflix and Amazon Prime Video also offer free trials, granting users temporary access to a limited range of content without charge for a limited period of time.

On the free streaming by Jio during IPL giving a boost to small & medium enterprises

The free streaming of IPL by Jio during IPL did give a boost to small and medium enterprises (SMEs) to be seen on IPL. This is because the free streaming allowed a wider audience to watch the IPL, which in turn gave SMEs a larger audience to reach with their advertising and able to target their respective local markets.

By streaming the IPL for free, SMEs could tailor their advertisements to the specific audience watching the IPL on Jio. This ensured that their ads reached viewers who were more likely to have an interest in their products or services, increasing the effectiveness of their advertising campaigns.