Media & Broadcasting
The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making high growth strides.
Media & Broadcasting
The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making high growth strides. Proving its resilience to the world, the Indian M&E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenues. The industry has been largely driven by increasing digitisation and higher internet usage over the last decade. Internet has almost become a mainstream media for entertainment for most of the people.
The Telecom Regulatory Authority of India (TRAI) is set to approach the Ministry of Information and Broadcasting, Government of India, with a request to fastrack the recommendations on broadcasting, in an attempt to boost reforms in the broadcasting sector.
The Government of India has agreed to set up the National Centre of Excellence for Animation, Gaming, Visual Effects and Comics industry in Mumbai. The Indian and Canadian Governments have signed an audio visual co-production deal to enable producers from both countries to exchange and explore their culture and creativity, respectively.
The Government of India has supported the Media and Entertainment industry’s growth by taking various initiatives such as digitising the cable distribution sector to attract greater institutional funding, increasing FDI limit from 74 percent to 100 percent in cable and DTH satellite platforms, and granting industry status to the film industry for easy access to institutional finance.
The Indian media industry has tremendous scope for growth in all segments due to rising incomes and evolving lifestyles. Media is consumed by audiences across demographics and various avenues such as television, films, out of home (OOH), radio, animation and visual effect (VFX), music, gaming, digital advertising, and print.
Audit in this sector takes care of the compliance part, very vital these days, the cost part and the revenue lines. Cost Per Air Time is an important measure to value contracts to match the projected revenue.