Mumbai, Mar 14 () : Indian showbiz and media industry’s big bang event FICCI Frames got off with the study report stating that India’s media and entertainment industry which generated revenue of Rs 82,000 crore last year will double in volume to Rs.1.68 trillion in 2017.
For the current 2013-2014, the income would be Rs 91,000 showing 11.7% increase. Reasons are that more cities are coming under TV digitization, growth of regional media, upcoming Lok Sabha elections and fast-growing social media businesses.
Star India Uday Shankar feels that the Government ,the media and industry have to come in alignment. He said the policy to make signals digital would now close the chance for cable operators to under report the subscriber base to avoid paying subscriber fees to channel. He said that the government should not see entertainment and media as only showbiz but as a revenue earner and provider of employment without much infra support from State.
Shankar said it was important to accurately fix the ratings of TV serials and how many households are subscribing to a channel and the MSO knows how many local cable operators are taking signals from him but does not know as to how many households he is supplying.
A rough guess is that there are 140 million homes that are wired to satellite and cable. Shankar said that advertising agencies differ on the volume of the market. Yet another grey area is the lack of adequately trained talent, he pointed out.
IT and financial sectors are building right talent but entertainment and media are just sitting back without doing nothing in this sector. The constraints in supply and quality of content are hitting the industry badly, Shankar said.
Shankar pointed out that there are still groups talking about how much freedom should be given to media and that too after 60 years of independence. Network 18 regional soaps are getting global broadcasters said its CEO Sai Kumar.