Make in India
How can Indian M&E sector leverage Make in India to Reach out to the world
Do we as a country have a sense of urgency in supporting the transformative influence of digitization and the development of the electronic infrastructure for delivery of media? Are we ready to utilize the window of opportunity for India to position itself as a cluster of skills and capabilities for the global media and entertainment industry to transact media and entertainment business with us?
The macro-economic outlook of India, the English speaking work force and the government’s “Make in India" and “Digital India" campaigns are clearly positive signals of intent. The M&E industry in India has been subject to advancement and change. New inscription technology has indeed contributed to segmentation and fragmentation of audience. For instance there are 857 broadcast channels in India today and the internet provides unlimited forum for publishing, broadcasting, multimedia and interactive services. In our country the increasing demand for content and the changing interest of young and the middle aged who are giving their time and attention to the internet, hand-held devices such as iPad and Notebooks are providing unprecedented creative and commercial opportunities for media content providers. India already has 250 million digital screens including smartphones, tablets, laptops PCs, which are way beyond the total number of film and TV screens in the country.
India is well positioned both in terms of requisite skills and project management capabilities to cater to the use of digital technology. There are growing opportunities for manipulating media content of any kind for dissemination in another format. This opportunity of manipulating, repackaging the content gives rise to entrepreneurs and employment growth.
The presence of engineers who can work on digital technology in India is positively impacting media production, distribution and consumption patterns which also have strong implications for advertising. Advertising is undergoing change in terms of metrics and formats. Vast choice of content and the advent of on-demand viewing and measuring viewer behavior has become critical as it facilitates targeted advertising.
Opportunity Based On Digitized Media Content
Digital technology is bringing down production cost of content and is improving the scope for freelancers who are technically qualified to generate quality content. Low cost digital cameras, camcorders and editing equipments, capable of producing broadcast quality output has made production cheaper and has lowered the barrier to industry entry.
The spread of digital technology is offering equal opportunity for small Indian companies as well as established media companies to participate in the growing global M&E market. Digitization and the growth of the internet are reducing many barriers to market entry and creating opportunities for smaller companies offering skills in new forms of content creation.
However digital business does require substantial initial investment. The expansion in consumption in a given digital media product or service results in increasing profitability. Government policy must facilitate the creation of an environment where media and entertainment start ups are incubated and supported and are in a position to maximise participation in the market of digital content creation and dissemination. To start with, export benefits to postproduction services under service tax regulation, a uniform simplified single point taxation across product categories under GST will benefit the Media and Entertainment Industry.
15 Feb 2018 Issue
Pickle is India's media and entertainment business guide that positions India in the global markets and reach out to decision makers. Read More