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Tag: Smita Jha

  • Entertainment and media industry to double in five years

    Entertainment and media industry to double in five years

    MUMBAI: India’s entertainment and media industry is expected to double and grow to over Rs 2,27,000 crore by 2018 from Rs 1,12,044 crore in 2013, according to a report by industry body Confederation of Indian Industry (CII) and professional services firm PwC.

     

    “The industry growth is expected on account of healthy growth in areas like advertisement and television industry,” the report – India Entertainment & Media Outlook 2014 predicted.

     

    In 2013, the broad entertainment and media industry, anticipated to be Rs 1,12,044 crore rose 19 per cent over the preceding year. The film segment was estimated at Rs 12,600 crore in 2013 and is projected to grow steadily at a CAGR of 12 per cent, on the back of higher domestic and overseas box-office collections as well as cable and satellite rights.

     

    Internet access and internet advertising were the fastest growing segments in 2013, clocking growth rates of 47 per cent and 26 per cent respectively over the previous year. The report added that the companies in the sector will need a business strategy fit for the digital age. The industry needs to get even closer to the consumer and adopt more flexible business models.

     

    “The revenue from advertising is expected to grow at a CAGR of 13 per cent and will exceed Rs 60,000 crore in 2018 from Rs 35,000 crore in 2013. Internet access has overtaken the print segment as the second-largest segment contributing to the overall pie of entertainment and media sector revenues,” it said. 

     

    Television and print are expected to remain the largest contributors to the advertising pie in 2018 as well. Internet advertising will emerge as the third-largest segment, with a share of about 16 per cent in the total entertainment and media advertising pie, as per the estimates.

     

    PwC India Entertainment and Media practice leader Smita Jha said, “Digital success does not just necessarily mean better, improved technology. It means applying a digital mindset to build the right behaviours among industry stakeholders. This includes getting ever closer to the customer–across the entire organisation, and in everything it does.”

     

    With the rapidly increasing mobile usage, the gaming sector is also emerging as a promising source of revenue for the industry. Efforts by industry players as well as support from the government are expected to provide a major boost to the gaming sector, which is still in its infancy.

     

    Out-of-home advertising is gradually expected to slide to the last position in terms of revenue contribution to the sector, with its share declining to 1 per cent in 2018, while music remains constant at 1 per cent revenue share between 2013 and 2018.

  • Moving beyond television

    Moving beyond television

    MUMBAI:  The online space for content is growing, not just in terms of online production houses coming up but also in terms of innovation. But how much of this affects the distributors and operators in India? Well! that was the talking point of a discussion titled ‘Beyond the Television Screen –Distributors and Operators’ at the afaqs! TV.NXT 2014 summit.

     

    Joining the panel were BARC India chief executive officer Partho Dasgupta, PwC India Entertainment and Media leader Smita Jha, SureWaves Media chief operating officer Mandar Patwardhan, BBC Global News (Indian operations ) chief operating officer  Naveen Jhunjhunwala and Indiantelevision.com founder, CEO and editor in chief Anil Wanvari who also anchored the discussion.

     

    Dasgupta began by saying that while today a lot of new and innovative content was available on multiple platforms, the popularity depended on the quality of content being produced.  When asked if the rating agency would be taking steps to monitor any online content, Dasgupta said, “We will set up a system that is platform agnostic and even monitor digital content.”

     

    Enlightening the session with interesting facts, he said that while starsports.com received 2.8 million hits during the last IPL season, NDTV received 13 billion hits for its coverage of the Lok Sabha elections.

     

    Talking about BBC’s digital strategy, Jhunjhunwala emphasised on how a specialised in-house team has been setup that specifically caters to producing online content for its Indian website. “The India page has a lot of content that is localised. The challenge for us is to have Indian local content that has an international perspective,” he said.

     

    Jha, commenting on global trends, revealed that worldwide TV advertisements were growing at five per cent while internet advertising was growing at 10 per cent. But the size of the internet advertising market is still evolving. “Advertising agencies today have specific teams to produce online content. It is essential for brands today to come up with one to two commercials every 15 days,” she said.

     

    On the other hand, Patwardhan said that while traditional mediums have already begun to adapt to the digital environment, the reverse could also take place wherein online content producers would switch to the linear television format and a crossover would take place.

     

    Wanvari at this point interjected saying that broadcasters today solely wanted to own the IP and producers had very little time, since they are busy with their shooting schedules, to put forward their point for joint ownership of an IP. 

     

    Jha in her parting words said that the IP should rest with the producer and not the broadcaster so that innovation could be introduced in multiple formats for audiences.