FICCI –Frames 2014 opens in Mumbai ; Digitization has ushered in a new era in broadcasting, says I&B Secretary
FICCI –Frames 2014 opens in Mumbai ;
Digitization has ushered in a new era in broadcasting, says I&B Secretary
The annual mega event of the media and entertainment industry – FICCI Frames 2014, opened in Mumbai today, with calls for recognizing the role of media industry as a potential economic growth engine. The theme of the three day meet is “Media and Entertainment : Transforming Lives’. A broad spectrum of issues covering films, broadcasting – both television and radio, digital entertainment, animation, gaming, visual effects, etc. would be discussed and deliberated over the next three days.
Speaking at the inaugural ceremony, the Secretary, Information & Broadcasting, Mr Bimal Julka outlined facilitation initiatives taken by his Ministry for the development of broadcast and film sectors. He said, the digitization process that is being extensively implemented in India, would promote transparency and usher in a new era in broadcasting. “The biggest gain of digitization is going to be transparency in the broadcasting sector which will increase investments, including FDI inflow, encourage cleaner and innovative businesses and above all give consumers a choice of a-la-carte channels” he added. Mr. Julka said, the first 2 phases of digitization have been successfully completed in 42 cities, and over 30 million set top boxes (STBs) installed. Another 110 million STBs would be required to complete the digitization process in remaining two phases.
The I&B Secretary also spoke about the need for a credible television rating system in India. He informed the media and entertainment fraternity that the Ministry of Information & Broadcasting has brought out a comprehensive regulatory framework in the form of guidelines for television rating agencies in India. He however, underlined that self regulation by the industry body is the best option in so far as TV ratings are concerned.
In his opening remarks, Mr. Uday Shankar, CEO, STAR India said the media and entertainment industry grew by 12 per cent in 2013 despite economic headwinds and added “it is a testament to the tenacity of the industry.” He said the media industry and the government, despite holding adversarial positions due to their very nature, must form constructive partnership to further economic growth and social development.
The key-note address was delivered by Ajit Pai, the first Indian-American to be appointed Commissioner of the Federal Communication Commission of the United States by the Obama administration. Pai spoke about balancing regulatory framework and promoting creativity and free speech.
The FICCI-KPMG Indian Media & Entertainment Industry Report 2014 was released at the inaugural ceremony. The report says, the Media & Entertainment Industry registered a 11.8% growth during 2013. The size of the M&E industry in India has touched Rs 91,800 crores, up from Rs 82,100 crores during 2012. Television industry accounts for 45% with Rs 41,720 crore revenue, followed by print at Rs 24,310 crores. In terms of year-on-year growth, however, the Rs 3,000 crore digital advertising (38.7% growth) and Rs 2,000 crore (25.5% growth) gaming sectors lead the way.
More than 2000 Indian and foreign delegates encompassing the entire media and entertainment sector are participating in FICC-Frames 2014. Australia is the ‘partner country’, while Karnataka is the ‘partner state’ at this year’s summit.