India offers a growing middle class of high-tech savvy consumers and vibrant media, entertainment and innovation sectors. Riding on the back of these advantages, the media & entertainment market grew at a CAGR of 11 percent over 2014-18 and is expected to grow at a CAGR of over 13 percent in the next 5 years. The movie industry in India is big business and box office revenues are growing steadily. The best opportunities for multinational businesses, however, are more likely found in joint “Bollywood” production projects, rather than in licensing or exporting movies. Electronic home video is expanding rapidly, especially streaming content for a monthly flat rate.
The all-inclusive, unlimited subscription model is gaining in popularity as digital entertainment expands in India just like in many developing economies. Live music and digital music streaming are proliferating in India. Video games, including PC, app-based, digital, and online consoles are also growing rapidly. The Indian content on screen reaches over 85 countries in all major OTT platforms, including Netflix, Prime Video, iTunes, YouTube. This is just the tip of the iceberg and is set to increase in the coming years. After Hollywood, Indian cinema has the highest reach (in terms of distribution for films) and reaches over 75 territories globally. India’s strength is emotional content - telling human stories with universal appeal, irrespective of the language barrier.
Animation studios are spread across the major media service hubs of India. Indian companies have been able to demonstrate their ability to deliver from script to screen. Over the years, Indian animation studios have built a strong production pipeline, skilled professionals and robust infrastructure. Over the last two decades Indian companies have delivered quality work - month after month, year after year. In 2D, 3D and CGI, Indian animation production studios and production talent have had the privilege of working with global majors like Disney, WB, DreamWorks, Sony, Viacom/Nick, BBC, Cartoon Network, EA, Fox, Rockstar, Square Enix Ubisoft and Zynga among several others. The industry has gained rapid momentum and is set to witness a boom in the future.
A co-production is a joint venture between two or more different production companies for the purpose of producing a feature film, animation, TV, Web show or series. It gives an opportunity for filmmakers of different countries to come together and make films under bilateral co-production agreements It is now possible for filmmakers of different countries to come together and make films under bilateral co–production agreements. Co-productions under these agreements are more beneficial to filmmakers than a purely commercial partnership between two individuals or entities. New markets and audiences would be available for the product, especially if collaborations and partnerships are between nationals of different countries.
Mobile Gaming is becoming the new entertainment frontier and is cutting across all age groups and genders as it is amazing channel for short duration instant entertainment, and India has been one of the fastest growing mobile gaming market by downloads globally. Indian Gaming is home grown talent pool with small share of talent pool benefiting from the presence of the global gaming companies. But in recent times, the industry has seen emergence of highly vibrant and good quality developer ecosystem with over 300 gaming startups being present in India. Game design sensibilities and depth has shown significant improvement over last couple of years by local talent pool being employed and trained in global gaming companies lie Zynga, EA, and Ubisoft etc.
Danny Boyle’s Life of Pi won the VFX Oscar and two studios that worked on the film - Rhythm n’ Hues and MPC - both having used a substantial number of their team members in India. Studios like Prime Focus, Anibrain, Tool Box, Maya, Red Chillies have been instrumental in altering the Hollywood perception that only US-based studios excelled in visual effects. India’s contribution to Hollywood movies is well known - the last two Harry Potter films, Pirates of the Caribbean, Percy Jackson, Life of Pi, Skyfall, Prometheus, The Jungle Book, Blade Runner have all used India talent. This has been enabled as larger studios have extended their pipelines and proprietary tool sets and software to India.
Over 150 delegates from 42 countries participated in enTTech 2018 - India’s biggest Media and Entertainment services market - and benefitted from the B2B matchmaking with Indian counterparts.
enTTech Inaugural Session: (From Left) Mr Maneck Davar, Vice Chairman, SEPC, Mr Vivek Nair, Chairman, SEPC, Ms Sangeeta Godbole, Director General, SEPC, Mr Clyde DeSouza, VR filmmaker and Mr Stephen Mascarenhas, VP, Prime Focus World
Mr Sudhanshu Pandey, Joint Secretary, Ministry of Commerce and Industry and Mr Maneck Davar, Vice Chairman, SEPC at enTTech interactive session
Mr Sudhanshu Pandey, Joint Secretary, Ministry of Commerce and Industry interacting with an exhibitor
B2B meetings at enTTech 2019
THE ENTERTAINMENT TECHNOLOGY SHOW 2019
Professionals, entrepreneurs, companies, suppliers associated with the Media & Entertainment technology industry will all be there at the grand show in Mumbai.