It's
a typical Bollywood extravaganza.-- A young beautiful girl meets boy… they fall
in love. Typically after few dream songs and car chases they get married….it's
a happy ending.
This scenario in a way epitomizes the Indian
media and entertainment sector which is one of the fastest growing sectors in the country
and the reasons are not far to seek. The changing consumption patterns, rising
aspiration levels, increase in the number of middle-income households and the
propensity to spend on leisure and entertainment are the key growth drivers.
Over the last five years, the industry has witnessed significant evolution.
There has been an increase in the number of television channels, entry of
private sector companies, increasing foreign direct investment (FDI), entry of
non-media companies, move towards complete digitization, organized Bollywood
dealings, increased pool of creative skills and a growing domestic market.
India
has become the leading destination for global investors in the emerging
economies, thereby helping the industry to deliver. Amongst these, some of the
key trends that have shaped the media and entertainment industry and brought it
to its current state are evolution of business models, de-coupling of content
from platforms, easier access to capital and globalization of the industry.
Despite the global economic slowdown, Indian media and entertainment companies
are still poised for success. Entertainment is a part of people’s lifestyle and
a route to escapism, as even witnessed during the 1930’s Depression. And like
all Bollywood movies, we preempt a happy ending to this story too!
As
I go along, I will track many changes, trends that occur in this sector as and
when it happens and analyse them.
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