Media conclave to begin in Chennai on December 1st
India's burgeoning media and entertainment industry gets together for a two-day conclave beginning here on December 1 to brainstorm on broad-ranging issues, from competition laws and copyright infringement to video piracy and digital era challenges.
The third Media and Entertainment Business Conclave (MEBC) 2011 hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) seeks to provide a networking platform with decision makers and regulators for stakeholders from the film, broadcast, music and new media space.
The conclave, themed "Embracing The Digital World," will bring to the table over 500 media and entertainment business people from India and overseas and government officials to discuss issues confronting the industry across various states.
Actor Kamal Haasan, chairman of the FICCI MEBC, told a press conference that film financing, theatre infrastructure upgrades for digital screening and the way forward for Indian cinema and entertainment sectors would be among the important talk-points during the event. Asked for his reaction to the steep hike in entertainment tax announced by the State, Mr. Haasan unequivocally sought a reduction in the larger interest of the film industry. "It should be reduced…there is no second thought about it," he said.
He also advocated sorting out film financing issues as otherwise “various methodologies come into play including legal, illegal and underworld money.” At the same time, producers too needed to comply with repayment schedules on loans availed from mainstream financial institutions.
According to Leena Jaisani, Director, FICCI Entertainment Division, the conclave provided a forum for discussing sector-specific problems as well as joining common cause on broader issues influencing the media and entertainment landscape.
The business sessions at the conclave will cover the gamut of sectors such as Films, Broadcast (TV & Radio), Digital Entertainment, Animation, Gaming, and Visual Effects besides throwing up valuable market insights from over 20 sessions led by industry players.
FICCI-Deloitte is also slated to release a comprehensive report on the Southern Media & Entertainment on Day 1 of the conference.
In sum, the FICCI-Deloitte report estimates the films, television, print and radio market of South India at Rs.19,000 crores. On the back of sustained demand and evolving content across different media platforms, this market is projected to grow at a CAGR (Compounded Annual Growth Rate) of 14 per cent and is expected to cross Rs.32,000 crores by 2015.
The report puts television as the most popular media platform in the South valued at Rs.10,600 crore and accounting for 57 per cent of the overall market. Television is projected to grow at a healthy CAGR of 17 per cent and could potentially reach Rs.20,000 crore by 2015, the report said.
