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Indian entertainment faces challenging times: CII
By Frederick Noronha,
Panaji, Nov 23 The Indian entertainment industry should enhance
activity in newer genres and the players should consolidate
their activity rather than remain "fragmented" in order to grow,
says a Confederation of Indian Industry (CII) report ahead of
the International film Festival of India (IFFI) that opens here
Thursday.
The report also says an adult Indian spends on an average less
than Rs.2 each year on films and India is the third largest
market for cable, after US and China, with 250 channels and 60
million cable homes.
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But India also spends only the
second-lowest per capita on cable (at Rs.150 per home per month,
after China) globally. So, a family of five, which views TV for
an hour a day, pays just Rs.1 per hour for this.
The CII backgrounder says that cable has not reached "even one
fourth of India's 200 million households". Besides, in terms of
television, India has among the "worst skew in the distribution
of subscription revenue between broadcasters and distributors".
On the film industry, it says: "The 'tried and tested formula'
in Indian filmmaking is being challenged. The industry has
witnessed how new genre creations have set new trends and reaped
rich rewards. However, any new genre success 'formula' is
quickly replicated and often so, and often the weak treatment of
the 'me-too' results in failures."
It says the Indian entertainment industry is currently
"fragmented" with a vast disparity between a few large players
and multiple small players "all of whom are competing for a
finite market with a finite set of resources".
It called for an industry consolidating, and suggested larger
production houses could enjoy efficiencies in terms of finances,
risk management, and resource utilisation.
CII estimated, in its study done jointly with the KPMG group,
that India's film and music sectors suffered revenue losses of
Rs.20 billion-plus due to illegal copying ("piracy") of movies
and music.
"A closer analysis of the film industry shows that the extent of
value destruction in mid-budget films (Rs.20-100 million) could
be as high as 80-90 percent, in many cases, due to a pronounced
lack of process orientation and discipline," said the CII
background note.
It pointed to a possible "exciting phase of growth" for India's
entertainment industry, but called for "getting the house in
order".
To "unlock value", said the CII, the Indian entertainment
industry would need to develop marketable products "keeping in
mind the socio-economic realities of the Indian market"; improve
operational effectiveness through global benchmarking, adoption
of best practices, technology and strategic innovation; and
leverage the capabilities thus developed in international
markets.
One of the recommendations calls for the media and entertainment
biz to enhance activity in newer genres.
CII says: "To its credit, the Indian music industry has
constantly looked at new genres to keep it afloat. Indi-pop,
Sufi, fusion, re-mix, folk, etc, are all successful genre
creations in the popular Indian music space over the last 10
years. The music industry's foray into devotional music partly
revolutionised its fortunes."
It also pointed to the televised Indian epics "Mahabharat" and "Ramayan",
and religious programmes through independent channels on
Christianity and Hinduism, and devotional music (bhajans). "This
genre is relatively unexploited in films," it added.
IANS
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