New Delhi, Mar 17 (ANI/Business Wire India): The curtains will go up on FRAMES 2008, the biggest Global Convention in Asia on the Business of Entertainment, on March 25 in Mumbai as over 2500 Indian and foreign delegates from nearly 20 countries engage in seminars and networking business sessions and social get-togethers spread over three days.
FRAMES 2008 will unfold against the backdrop of a 17 per cent growth in the Indian Entertainment and Media (E and M) industry in 2007 over the previous year.
The industry reached an estimated size of Rs. 513 billion in 2007, up from Rs. 438 billion in 2006. In the last four years 2004-2007, the industry recorded a cumulative growth of 19 per cent on an overall basis, according to the FICCI- PricewaterhouseCoopers 2008 Report on Indian Entertainment and Media Industry 2008.
Delegates from 17 countries have already registered for the mega event, namely, Australia, Canada, France Germany, Greece, Hong Kong, Italy, Malaysia, Pakistan, South Africa, Thailand, UAE, the UK, USA, Korea, Switzerland, and New Zealand.
With nearly 30 sessions on topical themes, FRAMES 2008 will capture the essence of where the industry is positioned today and show the way forward. The topics that will come up for discussions are:
-- Changing face of TV news
-- Resurgence of the language media
-- Developing animation content
-- New age technology and emerging production pipelines in animation
-- Raising capital
-- Linguistic diversity in Indian cinema
-- Radio for the masses
-- Scope of international co-productions
-- Talent crunch in the industry
-- Film marketing and distribution
-- Importance of digital cinema
-- Animation, IP creation, protection and life cycle
-- Visual effects
-- Mobile entertainment
-- Sports as entertainment
-- Revenue streams in multiplexes
According to Dr. Amit Mitra, Secretary General, FICCI: "With FRAMES, we monitor the growth of the entertainment industry on an annual basis. Growth in 2007 has indeed been robust, with expansion of the radio and TV recording a CAGR of 22 per cent and 18 per cent, respectively."
"We can proudly say that our networking with the government and industry segments is paying rich dividends. It is now for the industry to fan out and have a global outreach. FICCI FRAMES, of course, would handhold the players in their quest for becoming world players," he added.
FRAMES 2008 will be flagged off by the Union Minister for Information and Broadcasting, Priyaranjan Dasmunsi.
The inaugural session will be addressed by eminent speakers such as Viviane Reding, European Commissioner, Information Society and Media, European Commission; Stewart Beck, Assistant Deputy Minister, Investment, Innovation and Sectors, Foreign Affairs and International Trade, Canada; Dominique Dreyer, Ambassador of Switzerland to India; Asha Swarup, Secretary, Ministry of Information and Broadcasting, Govt. of India; Yash Chopra, Chairman, FICCI Entertainment Committee and Chairman, Yashraj Films Pvt Ltd; Kunal Dasgupta, Co-Chairman, FICCI Entertainment Committee and CEO, Sony Entertainment Television; and Amit Khanna, Chairman, Reliance Entertainment Pvt. Ltd. And Chairman, FICCI Convergence Committee.
The partner country for FRAMES 2008 is Switzerland.
The FICCI-PricewaterhouseCoopers 2008 Report notes that the advertising industry contributed a share of 38 per cent in the overall industry revenues of 2007, up by a percentage from 37 per cent in 2006. The advertising industry itself recorded a growth of 22 per cent over the previous year and thus contributed an estimated Rs. 196 billion in 2007 as compared with Rs. 161 billion in 2006. In the last four years 2004-2007, the advertising industry recorded a cumulative growth of 20 per cent on an overall basis.
As per the report, the upbeat mood in the industry attracted attention from domestic and foreign investors who desired to be a part of this transforming industry. The E and M industry saw several deals in the year with the largest deal being the investment of Rs 11 billion by Temasek Holdings investing in Inx Media, a TV broadcast company. Other significant investments included Rs.7 billion by South Asia Entertainment Holdings Ltd. (a group company of Astro All Asia Networks Plc) in Sun Direct TV for a 20 per cent stake.
The report points out that the migration to digital formats is accelerating and this trend is likely to emerge in India too. Distribution of entertainment and media content over digital and mobile platforms-online digital streaming, digital movie/TV downloads, video-on-demand, music downloaded from the Internet, music downloaded to wireless phones, online advertising, online video games, wireless video games, and online gaming is likely to rise significantly in the next five years.
The industry saw the entry of new players and existing players expanding by diversifying into new segments, spreading their presence across value chains, broadening their horizons by increasing their geographic presence.
"Digitalization is the future for most segments and companies have to adopt this revolution with appropriate infrastructure, relevant business models, and technology upgradation along with associated costs. The pace of adoption will determine industry dynamics," said Timmy Kandhari, Executive Director and Leader TICE (Technology, Infocomm and Entertainment and Media) Practice, PricewaterhouseCoopers in India, while commenting on the future outlook for the industry.
As digitization sets in, it will lead to reduction in costs for content and delivery in the long run, shifting the emphasis on quality content, he added.