January 1, 2009
By Kamlu Roopani
India’s biggest media and entertainment convention FICCI FRAMES will turn 10 this year. The event expects a turnout of 800 foreign delegates who will join nearly 2000 local attendees This year, international auditing firm KPMG and FICCI will jointly release India’s most definitive report on the Indian Media and Entertainment Industry at FRAMES. The much-awaited Tenth Report will analyse the industry’s decade-long growth. Over 35 countries from all over the world participated in FRAMES in 2008 with delegates from Australia, Canada, France, Germany, Greece, Hong King, Italy, Israel, Korea, Japan, Malaysia, New Zealand, Pakistan, Singapore, South Africa, Switzerland, Sri Lanka, Thailand, UAE, UK, USA and more. The event will also host focused sessions covering the gamut of media and entertainment like film, broadcast (TV & radio), digital entertainment, animation, gaming, visual effects, etc. will be held over a period of three days. All sessions will be addressed by international and Indian industry leaders. This year, the USA will act as the partner country and various ways to implement Indo-US synergies will be explored. “India and US have always shared a certain cultural synergy with diasporic audiences spreading their tastes, films, music and habits throughout the American heartland,” said Dr Amit Mitra, secretary general of FICCI. “With this consistent cross-over and mingling of cultures, there is now a steady demand for Bollywood films in US; content business in India is likely to generate over US$50 million in the next two years and this growth is expected to come from largely from the US market.” “American media houses are also eyeing and vying for place at the growing Indian media and entertainment bazaar: NewsCorp, NBC, FOX, Viacom – all the global giants have invested into the India M & E sector heavily. Co-productions and joint ventures between American studios and companies and Indian production houses have also started in a big way.” “Conversely, Indian media conglomerates are now forces to reckon with, having placed India firmly on the global map. All this will cross-mingling will get a further fillip with FICCI FRAMES happening at this opportune time. We will have sessions especially on Indo-US synergies and another one on Return on Investments on the Indian Media & Entertainment Industry where heads of American media companies like NBC and Turner who have invested in India would give us their views.” With this consistent cross-over and mingling of cultures, there is now a steady demand for Bollywood films in US; content business in India is likely to generate over US$50 million in the next two years. Speaking of trends in the domestic market, Dr. Mitra expected an increase in digitisation of the exhibition sector which meant simultaneous release of films and hence less piracy as the interiors of India would be able to see the films on the same day. “Uniform and rational taxes across all states, single window clearances for the exhibition sector need to be emphasised at this stage. There could be government intervention in providing conducive duty regime and taxes that will help the digitisation of the interiors of the country. The digitization is happening not only for screening but also the ticketing systems etc, which will bring in transparency in box office returns.” The Indian media and entertainment industry is one of the largest in the world, with strong growth forecast and the potential to garner US$200 billion by 2015. The Global Entertainment and Media Outlook 2008-2012 report by PriceWaterHouseCoopers (PWC) projects India as the fastest growing territory in Asia during the next five years with a potential to grow at a compounded annual growth rate (CAGR) of 18.5 percent against 6.6 percent globally. India’s multiplex industry is all set for an unprecedented boom. Industry experts estimate that the top six multiplex chains have plans of 300-500 screens each by 2010. Indian television industry’s revenue will grow at a CAGR of 22 per cent to US$13.11 billion by 2011. The buoyancy of the Indian economy coupled with new distribution platforms like DTH and IPTV among others is likely to propel the growth of this industry. ASIAIMAGE FICCI FRAMES will be held from 17 – 19 February 2009 in Mumbai, India.