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The adoption of <keyword id="50691" type="General" weightage="100" keywordseo="digital" source="Orion">digital</keyword> radio technology can help the broadcast sector double its revenues to Rs 12,300 crore in five years riding on a robust mobile ecosystem, a new report showed on Thursday. The country has so far tested two technologies -- <keyword id="14635242" type="General" weightage="50" keywordseo="hd-radio-and" source="Orion">HD Radio and</keyword> <keyword id="10330418" type="General" weightage="50" keywordseo="digital-radio-mondiale" source="Orion">Digital Radio Mondiale</keyword> (DRM) -- for digital broadcasting in FM bands. According to a report by the <keyword id="7825659" type="General" weightage="50" keywordseo="india-cellular-and-electronics-association" source="Orion">India Cellular and Electronics Association</keyword> (ICEA) and EY, radio stations will go up from less than 300 today to over 1,100 without additional spectrum and mass adoption cannot happen without the support of a mobile ecosystem. "Digital broadcast radio has the ability to cater to segments of entry-level smartphones and several hundred million feature phone users to receive enhanced services in areas of health, education, emergency and weather which by complementing data networks decongest them," said Pankaj Mohindroo, Chairman, ICEA. "Communication usage with internet of things (IoT) devices are next steps envisaged in the pipeline too," he added. Digital radio broadcasting can be extremely beneficial for all the stakeholders in the sector -- broadcasters, listeners, advertisers and the regulators -- and can help the FM radio segment boost revenues. This comes at a time when the FM radio segment has been struggling to generate robust revenues over the past few years. "It would lead to more advertising inventory to sell with the ability to charge higher rates based on segmented audiences. Given that the digital radio system can provide listenership data, broadcasters can build trust and eventually grow revenues," the report noted. Cost optimisation is another major factor of these technologies for the broadcasters as their transmitters use significantly less power as compared to analogue radio transmitters, it added. "Digital radio can provide a much-needed boost to the <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>n radio segment. It can help grow the radio segment in India by 3x over 5 years," said <keyword id="263905" type="General" weightage="50" keywordseo="ashish-pherwani" source="Orion">Ashish Pherwani</keyword>, Partner, EY LLP (India). Around 4 times more channels are possible within the same frequency which can provide more options to listeners. Further, the technology is broadcast-centric, and consumers would not have to pay any data charges, said the report. The report recommended innovations around cost-effective chipsets, antennas and software to drive quicker adoption of digital radio. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-2022-sale-best-kickstarter-deals-available-right-now/articleshow/93342722.cms">Amazon Great Freedom Festival 2022 Sale: Best Kickstarter deals available right now</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-5g-services-could-be-launched-on-august-15/articleshow/93341992.cms">Reliance Jio 5G services could be launched on August 15</a>

Digital radio can help the broadcast sector double its revenues to Rs 12,300 crore

<ul><li>Majority Indian organizations use a blend of <keyword id="3113512" type="ORGANIZATION" weightage="20" keywordseo="first-party">first party</keyword> (1P) and third party (3P) data for marketing and most marketers are increasing efforts to build 1P data.</li><li>A majority believe that the gaps in data breadth, depth and quality need to be addressed for the optimal usage of data for decision making.</li><li>82% Indian marketers see benefits in leveraging consumer data for marketing, but struggle with robust attribution models.</li></ul>In India, 58% organizations acknowledge they have gaps in consumer data leading to difficulties in data-driven decision making, according to the <keyword id="6403489" type="ORGANIZATION" weightage="20" keywordseo="mma">MMA</keyword> EY survey titled ‘Leveraging consumer data for marketing’. The survey conducted among 150 marketers across sectors revealed insights on the maturity of the consumer data strategy across the marketing landscape in India. <keyword id="263905" type="PERSON" weightage="20" keywordseo="Ashish-Pherwani">Ashish Pherwani</keyword>, Partner and <keyword id="176124" type="COMPANY" weightage="20" keywordseo="Media-Entertainment">Media &amp; Entertainment</keyword> Leader, <keyword id="1919178" type="COMPANY" weightage="20" keywordseo="EY-India">EY India</keyword> said, “It is a critical time for companies to prioritize data maturity, assess where they stand and work towards maximizing the value of their data. Our research revealed that although most companies have made significant progress in compliance, they struggle to break down internal silos, activate data and build the right skillsets to drive <keyword id="301587" type="ORGANIZATION" weightage="20" keywordseo="ROI">ROI</keyword> (return on investment) on their data investments. We found that most organizations are still building the processes and skills to effectively gather, analyze and execute against consumer data.” <keyword id="6812225" type="UNKNOWN" weightage="20" keywordseo="Moneka-Khurana">Moneka Khurana</keyword>, Country Head – India, MMA stated, “MMA as an industry body is seeing data becoming core to all types of marketing and business objectives. As a result, we are actively driving the data marketing narrative around the world. Through this industry-first initiative, we reveal the state of consumer data usage in the country, as well as preparedness in terms of data capabilities and governance based on inputs from over 150 leading marketers in the industry, including MMA members across sectors ranging from retail, finance, automobile, media to healthcare, education, technology, etc. This first-hand insight will provide marketers with a perspective on harnessing data in the most effective and ethical manner, enabling them to offer better experience to consumers, consequently improving their business ROI”. Some key highlights from the survey: Data types and uses: 71% Indian organizations use a blend of first party (1P) and third party (3P) data for marketing and most marketers are increasing efforts to build 1P data. However, 58% believe that gaps in data breadth, depth and quality needed to be addressed to enable optimal use of data for decision making. Only 30% of the respondents believe they use and activate personal level consumer data optimally. Realty, retail and eCommerce, and technology sectors have a higher share of 1P data. Retail and eCommerce, and media and entertainment emerged as leaders in the usage of data across the spectrum for decision making. Consumer data was used most for analytics, conversion tracking and retargeting. ROI measurement and attribution: 82% respondents see the benefit of leveraging consumer data for marketing, but struggle with robust attribution models. Only 12% of survey respondents have robust attribution models. 68% witnessed a lift in marketing efficiency by leveraging consumer data. 52% of Indian marketers face significant challenges with attribution. Indian marketers rely more on brand trackers and AB testing to support media decisions. However, a similar study conducted in the US indicated that US respondents used Media Mix Modelling a lot more and the US respondents were more adept (27% higher) at using tools compared to the Indian respondents. While performance and growth, and brand building emerge as two key focus areas for organizations; there is a significant focus required on implementing the right marketing tools and infrastructure. Capabilities and skills: 72% respondents have built martech capabilities or are working towards that goal. 35% have adequate access to advanced analytics and data science resources. However, automation, identity management and next best action emerge as the biggest gaps. Retail, technology, and auto are leading sectors in martech maturity and capabilities Data ownership, governance, and integration: 58% Indian marketers had defined ownership and management strategies for 1P consumer data. However, 60% had little integration of 1P and 3P data with limited employee access to organizational data resources. Only 24% respondents had cross-fishing rules defined for sharing of consumer data between brands.

While most Indian organizations use a blend of first party & third party data for marketing, most marketers are building first party data: MMA EY survey

<ul><li>The <keyword id="4317233" type="COMPANY" weightage="20" keywordseo="Indian-Media-and-Entertainment">Indian Media and Entertainment</keyword> (M&amp;E) sector reached Rs 1.82 trillion (US$25.7 billion) in 2019. </li><li>Digital subscription revenues more than doubled from 2018 levels and digital advertising revenues grew to command 24% of total advertising spend.</li><li>Digital media overtook filmed entertainment in 2019 to become the third largest segment of the M&amp;E sector.</li><li>While the exact impact of Coronavirus is not yet known, if the current state of lockdown continues for over a month, the sector could be looking at flat growth. A 3-month lockdown could lead to a de-growth of 25%.</li></ul>The Indian Media and Entertainment (M&amp;E) sector reached Rs 1.82 trillion (US$25.7 billion) in 2019, a growth of 9% over 2018 states the <keyword id="6355001" type="ORGANIZATION" weightage="20" keywordseo="ficci">FICCI</keyword> EY report ‘The era of consumer A.R.T. – Acquisition Retention and Transaction,’ launched today. With its current trajectory, the M&amp;E sector in India is expected to cross Rs 2.4 trillion (US$34 billion) by 2022, at a CAGR of 10%. However, FICCI and EY clarified that the findings of this report had not taken into consideration the rapidly evolving impact of Covid-19 on the industry. While television and print retained their positions as the two largest segments, digital media overtook filmed entertainment in 2019 to become the third largest segment of the M&amp;E sector. Digital subscription revenues more than doubled from 2018 levels and digital advertising revenues grew to command 24% of total advertising spend. The sector continues to grow at a rate faster than the GDP, driven primarily by growth in subscription-based business models and India’s attractiveness as a content production and post production destination. The rapid proliferation of mobile access is enabling on-demand, anytime-anywhere content consumption nationwide. With a population of 1.3 billion, a tele-density approaching 89% of households, 688 million internet subscribers and nearly 400 million smartphone users, India’s telecom industry is poised to become the primary platform for content distribution and consumption. India ranks as one of the fastest-growing app markets globally, where entertainment apps are driving significant consumer engagement. Online gaming retained its position as the fastest growing segment on the back of transaction-based games mainly fantasy sports, increased in-app purchases and a 31% growth in the number of online gamers to reach around 365 million. <keyword id="105547" type="PERSON" weightage="20" keywordseo="Uday-Shankar">Uday Shankar</keyword>, Vice President, FICCI and Chair, FICCI Media and Entertainment Division, said, “Riding the wave of exponential progress made towards digital accessibility and adoption, the M&amp;E industry has been a forerunner of a dynamic and aspirational India. New products and business models are being imagined to capitalize on the rise in media consumption. Global players are recognizing the need to build India-centric offerings. The coming years are likely to usher in greater innovation in content formats, means of dissemination, and business models.” <keyword id="263905" type="PERSON" weightage="20" keywordseo="Ashish-Pherwani">Ashish Pherwani</keyword>, Partner and Media &amp; Entertainment Leader, <keyword id="1919178" type="LOCATION" weightage="20" keywordseo="EY-India">EY India</keyword>, stated, “The M&amp;E sector witnessed a surge in content consumption as digital infrastructure, quantum of content produced and per-capita income increased in 2019. Driven by the ability to create direct-to-customer relationships, the sector firmly pivoted towards a B2C operating model, changing the way it measured itself. As entertainment and information options grew and choice increased the era of consumer Acquisition, Retention and Transaction (ART) redefined the media value chain leading to the emergence of many new trends and strategies across content, distribution, consumption and monetization.” “The Coronavirus outbreak will have a significant adverse impact on the sector, the situation is still evolving both in India and many parts of the world, the scale of the impact cannot be estimated immediately,” he added. He further stated that if the lockdown goes beyond a month, the M&amp;E sector can expect a flat growth. Moreover, if the lockdown is extended to 3 months, it could lead to a de-growth of 25% for the sector. Key findings: Television: The TV industry grew from Rs 740 billion to Rs 788 billion in 2019, a growth of 6.5%. TV advertising grew 5% to Rs 320 billion while subscription grew 7% to Rs 468 billion. Regional channels benefited from the New Tariff Order as their consumption increased by over 20% in certain cases. General entertainment and movie channels led with 74% of viewership. On the back of several key announcements by the central and state governments such as Article 370, the Citizenship Amendment Act, and a general election, the news genre witnessed a growth to almost 9% of total viewership, up from 7.3% in 2018. In sports cricket emerged as the big winner in 2019 as it accounted for over 80% of the sports viewership, up from 70% last year, due to the ICC World Cup. Key insights - Television will remain the largest earner of advertising revenues even in 2025, approaching Rs 570 billion. Viewership of regional language channels will continue to grow and reach 55% of total viewership in India as their content quality improves further. Content viewed on smart TV sets will begin to reflect that consumed on mobile phones, providing a window for user generated content companies and other non-broadcasters to serve content on the connected television screen. Print: Despite a 3% revenue de-growth at Rs 296 billion, print continued to retain the second largest share of the Indian M&amp;E sector. Circulation revenues increased by 2% to Rs 90 billion as newspaper companies tactically increased prices in certain markets. Advertising revenues fell 5% to Rs 206 billion in 2019 as AdEX volumes fell by 8%. Margins improved as newsprint cost measures were implemented and companies benefited from the reduction of newsprint prices. Key insights – 2019 witnessed a significant growth in digital news consumers over 2018 when 300 million Indians consumed news online. Most large print companies had a defined digital business, with two companies crossing Rs 1 billion in digital revenues. Digital subscription, though nascent, has increased as several publications have put digital products behind a paywall. Digital media: In 2019, digital media grew 31% to reach Rs 221 billion and is expected to grow at 23% CAGR to reach Rs 414 billion by 2022. Digital advertising grew 24% to Rs 192 billion driven by increased consumption of content on digital platforms and marketeers’ preference to measure performance. SME and long tail advertisers increased their spends on digital media as well.Pay digital subscribers crossed 10 million for the first time as sports and other premium content were put behind a paywall.Consequently, subscription revenue grew 106% to Rs 29 billion. Digital consumption grew across platforms where video viewers increased by 16%, audio streamers by 33% and news consumers by 22%. Key insights: By 2020, OTT subscription market will approximate 10% of the total TV subscription market (without, however, considering data charges).We estimate over 40 million connected TVs by 2025, which will provide a huge opportunity for content creators to reach family consumers.Better bandwidth will drive large screen consumption. By 2025, 750 million smart phone screens will also increase the demand for regional, UGC and short content, creating a short video ecosystem that can create significant employment.The battle for content discovery will intensity and move to the unified interface. Films: The Indian film segment grew 10% in 2019 to reach Rs 191 billion driven by the growth in domestic theatrical revenues and both rates and volume of digital/ OTT rights sold. Domestic film revenues crossed Rs 115 billion with Gross Box Office collections for Hindi films at RS 49.5 billion – the highest ever for Hindi theatricals. Overseas theatricals revenues fell 10% to Rs 27 billion despite more films being released abroad primarily as films with superstars didn’t perform as well in 2019. 108 Hollywood films were released in 2019 as compared to 98 in 2018. The gross box office collections of Hollywood films in India (inclusive of all their Indian language dubbed versions) grew 33% to reach Rs 16 billion. As single screens continued to reduce, the total screen count decreased by 74 to 9,527. Key Insights: Digital rights continued to grow in 2019 with an increase in revenues from Rs 13.5 billion in 2018 to RS 19 billion in 2019. Digital release windows shortened with some movies releasing on OTT platforms even before their release on television. In-cinema advertising grew marginally to RS 7.7 billion in 2019 as multiplexes and advertising aggregators started signing long-term deals with brands. Seventeen hindi films entered the coveted RS 100 crore club in 2019, which is the highest ever. Interestingly, six movies made it to the Rs 200 crore club in 2019, as opposed to three in 2018. The future will be driven by immersive content (technology and VFX rich) experiences to drive theatrical footfalls and some genres of films could migrate to home viewership only.We can expect to see creation of a segmented Hindi-mass product for the heartland at low ticket prices.

Indian media and entertainment industry grew by 9% to reach Rs 1.82 trillion in 2019: FICCI-EY report 2020

<ul><li>52% M&amp;E executives in India believe they can no longer rely on traditional business models.</li><li>33% recognize upskilling of the existing workforce as the key to talent development, to meet the changing industry demands.</li><li>21% admit their businesses need to reinvigorate, but are unsure what actions to prioritize.</li></ul> Faced with multiple evolving and disruptive forces, 52% of executives say they can no longer rely on traditional business models if they are to remain future relevant, according to EY’s report titled, ‘How are <keyword id="6354777" type="COMPANY" weightage="20" keywordseo="Media">media</keyword> and <keyword id="4578" type="COMPANY" weightage="20" keywordseo="entertainment">entertainment</keyword> businesses reinventing in an age of transformation?’. The report analyzes the views of leading media and entertainment companies and their executives to reveal catalysts, strategies and actions that are reshaping business transformation in a dynamic industry. The survey further highlights a sense of perplexity among M&amp;E businesses, with 28% indicating the need to reinvigorate their business, without thorough knowledge of what aspects to prioritize. Due to a plethora of options available to invest in digital tools, one in five executives are unclear on how to prioritize their digital investments. The dilemma of whether to focus on content production for immediate gains as against building direct to customer and platform and data capabilities were cited as key points of contention. <keyword id="263905" type="PERSON" weightage="20" keywordseo="Ashish-Pherwani">Ashish Pherwani</keyword>, Partner, Media &amp; Entertainment Leader, <keyword id="1919178" type="COMPANY" weightage="20" keywordseo="EY-India">EY India</keyword> says: “With fast-paced transformations in business models and revenue streams, media and entertainment companies that otherwise are optimistic about change, are facing a challenge to determine a starting point. While there is no single path to reinvention, businesses are prioritizing direct to customer relationships, platformmatic ad sales and community subscription models, to wade through the waves of technological disruption.” The report states that one in two Indian executives felt the pressure to maximize short term results as a barrier to developing innovative business models which also reflected in the findings where just one in three Indian executives believe in upskilling of their existing workforce. 24% of Indian executives felt that their companies would cease to exist without innovation, demonstrating their confidence that traditional media will survive in the future. The survey also unearths, three ambitions that M&amp;E companies across sub-sectors are prioritizing above all else: Pursuing operational excellence and agility is the industry’s top transformation ambition Executives believe that simplification is the hallmark of the new operating model. 67% of the executives prioritize consolidation of internal segments to streamline the business, while 50% of executives identify de-layering management and increasing spans of control for remaining executives to be prominent. Rebooting innovation strategy and approach With 48% of executives feeling the pressure to maximize short-term results as a barrier to innovation, balancing sustained success against long-term vision requires a structured approach. 34% of executives see incubators within the core of the business, as a driver of innovation. Accelerating talent and skills development 33% of the M&amp;E executives cite upskilling of the existing workforce as the key to talent development highlights the growing imperative to foster continuous learning. To remain relevant, workers need to migrate up the value chain, reinventing themselves and continually improving their capabilities.

Over 50% Media and Entertainment executives in India believe they can no longer rely on traditional business models: EY Report

The <keyword id="94534" type="ORGANIZATION" weightage="20" keywordseo="indian-media">Indian media</keyword> and <keyword id="4578" type="COMPANY" weightage="20" keywordseo="entertainment">entertainment</keyword> (M&amp;E) sector is expected to grow by 25 per cent in 2021 and is expected to reach ₹1.73 lakh crore ($23.7 billion), according to a FICCI-EY report. Titled 'Playing by new rules', the report said that with its current trajectory, the <keyword id="2345885" type="PERSON" weightage="20" keywordseo="ME-sector">M&amp;E sector</keyword> in India is expected to reach ₹2.23 lakh crore ($30.6 billion) by 2023 at a CAGR of 17 per cent. In 2020 while the television continued to remain the largest segment, <keyword id="124571" type="ORGANIZATION" weightage="20" keywordseo="digital-media">digital media</keyword> has overtaken print, and <keyword id="6422069" type="UNKNOWN" weightage="20" keywordseo="online-gaming">online gaming</keyword> has overtaken a disrupted filmed entertainment segment. The Indian media and entertainment sector has de-grown by 24 per cent to ₹1.38 trillion ($19 billion) in 2020. Digital media and online gaming were the only segments that grew in 2020 adding an aggregate of ₹2,600 crore. Other segments have de-grown by an aggregate of ₹46,700 billion. Dilip Chenoy, Secretary General FICCI, said that though the media and entertainment sector has been largely impacted by the pandemic, the positive news is that the digital subscription has grown by 49 per cent and the online gaming industry has grown by 18 percent. He further mentioned that different sectors of the media and entertainment industry will take different time to recover and this makes the report more crucial. Ashish Pherwani, Partner and Media &amp; Entertainment Leader, EY India, said the M&amp;E sector witnessed a shift in demand patterns as consumers actively sought alternatives and had the time to try new things. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/asteroid-apophis-wont-be-hitting-earth-for-at-least-another-century/articleshow/81719171.cms">‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century</a> <a href="https://www.businessinsider.in/science/health/news/making-vaccines-available-to-indians-may-not-be-enough-it-depends-on-how-judiciously-we-employ-them/articleshow/81720507.cms">Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them</a> <a href="https://www.businessinsider.in/thelife/article/madhya-pradeshs-kanha-national-park-hosts-a-special-guest-and-no-its-not-the-tiger/articleshow/81721513.cms">Madhya Pradesh’s Kanha National Park hosts a special guest. And, no, it’s not the tiger</a> <a href="https://www.businessinsider.in/stock-market/news/tata-group-stocks-soar-in-trade-as-ratan-tata-prevails-in-the-legal-battle-with-cyrus-mistry-at-indias-supreme-court/articleshow/81703478.cms">All Tata Group stocks soar in trade as Ratan Tata prevails in the legal battle with Cyrus Mistry at India's Supreme Court</a>

Indian media & entertainment industry may grow by 25% in 2021, says FICCI report

<ul><li>Digital trials increased significantly during the lockdown period. </li><li>At the same time, 42% respondents in non-metro markets spend more than 20 mins in reading a newspaper compared to 36% in metros.</li></ul>In the face of unprecedented economic disruption caused by the COVID-19 pandemic, non-<keyword id="3195214" type="COMPANY" weightage="20" keywordseo="metro-markets">metro markets</keyword> are likely to recover faster than metro markets, an EY survey finds. The EY report ‘Will non-metro markets propel India's recovery’, reveals a higher percentage of respondents from non-metro markets expect to spend more than before on several categories compared to metro markets indicating that when the lockdown ends, green shoots of recovery would probably sprout faster from the non-metro markets. The survey covered a varied demographic mix of more than 4,000 respondents (2,000 each from metro and non-metro markets) to understand the potential impact of the pandemic from the <keyword id="9628728" type="UNKNOWN" weightage="20" keywordseo="consumer-sentiment-perspective">consumer sentiment perspective</keyword>. It covered key aspects linked to the current and expected attitudes, behaviors and spending trends of consumers as they adapt to the new reality. Ashish Pherwani, Partner and Media &amp; Entertainment Leader, <keyword id="1919178" type="COMPANY" weightage="20" keywordseo="EY-India">EY India</keyword>, stated, “The COVID-19 pandemic has radically shifted our way of life. However, despite uncertain and challenging conditions, our research shows that non-metros express a higher degree of resiliency and a resolve to bounce back quicker compared to metros. We may see long-term and even permanent changes in consumption patterns”. The survey results reveal that the pandemic and the ensuing social distancing measures put in place have led to fundamental changes in how Indians are consuming media, necessities, luxury products education and travel. Some of the key insights from the survey include: Health, hygiene and online services will continue to grow While COVID-19 has impacted overall consumption, categories like heath products, household products, hygiene products, vitamins and supplements and online services (gaming, home entertainment, online education, online banking) are expected to benefit. Non-metro market recovery is excepted to be faster than metro recovery Categories like consumer goods, travel, entertainment, automobiles and white goods are all expected to see increased and faster recovery of demand from non-metro markets post the lockdowns. Increase in digital adoption Digital trials increased significantly during the lockdown period. However adoption was higher for metros vis-à-vis non-metros. Some of the obstacles stated by non-metro respondents included lack of technological knowledge, absence of smart phones and fewer language interfaces. Newspapers remain the most trusted medium The impact of coronavirus has unfolded at a dynamic rate, causing a sense of urgency to absorb information, increasing the consumption of news coverage at unprecedented levels. Newspapers continue to remain the most trusted news source. 42% respondents in non-metro markets spend more than 20 mins in reading a newspaper compared to 36% in metros.

Newspapers continue to remain the most trusted news source: EY Report

New Delhi, Mar 9 () Majority of the Indian media and entertainment companies are of the opinion that they must reinvent themselves to navigate the technological disruptions impacting the industry, says a report by EY.About 52 per cent executives from the media and entertainment sector in India believe they can no longer rely on traditional business models, if they are to remain future relevant, said the report titled "How are media and entertainment businesses reinventing in an age of transformation?"Moreover, one third of them recognise upskilling of the existing workforce as the key to talent development to meet the changing industry demands, it added.While, 21 per cent admit their businesses need to reinvigorate, but are unsure what actions to prioritise, said the report which is based on a survey of 350 industry leaders from around the world, which also includes 29 from India."While 52 per cent Indian M&amp;E executives realised that their traditional business models were not reliable in the long run, yet just 24 per cent of Indian executives felt that their companies would cease to exist without innovation, demonstrating their confidence that traditional media will survive in the future," the report said.It further said: "Many Indian executives cited the multiplicity of options available to invest in digital media as confusing, and one in five executives were unclear on how to prioritize their digital investments, particularly given the long break even periods required.""The question of whether to focus on content production for immediate gains versus building direct to customer and platform/data capabilities was a key area of discussion," it added.According to it, almost one in two Indian executives felt the pressure to "maximise short-term results as a barrier to innovation", which also reflected in just one in three Indian executives believing in upskilling of their existing workforce.The survey also highlights "a sense of perplexity" among media and entertainment businesses, with 28 per cent indicating the need to reinvigorate their business, without thorough knowledge of what aspects to prioritise.Commenting on it, EY India Media &amp; Entertainment Leader, Partner Ashish Pherwani said: "With fast-paced transformations in business models and revenue streams, media and entertainment companies that otherwise are optimistic about change, are facing a challenge to determine a starting point. "While there is no single path to reinvention, businesses are prioritizing direct to customer relationships, platformatic ad sales and community subscription models, to wade through the waves of technological disruption," he said. KRH MKJ

Most media, entertainment firms feel need to reinvent to stay relevant in technology era: EY

<ul><li><keyword id="169310" type="PERSON" weightage="20" keywordseo="digital-advertising">Digital advertising</keyword> is expected to outpace all other ad media by 2024 or 2025.</li><li>Online gaming was the fastest growing M&amp;E segment in 2020. The online gaming segment grew 18% in 2020 to reach INR 77 billion.</li></ul>The Indian Media and Entertainment (M&amp;E) sector has degrown by 24% to INR1.38 trillion (US$19 billion) in 2020, states the FICCI-EY report ‘Playing by new rules’ launched today. It is, however, expect to grow 25% in 2021 to reach INR1.73 trillion (US$23.7 billion). With its current trajectory, the M&amp;E sector in India is expected to reach INR2.23 trillion (US$30.6 billion) by 2023at a CAGR of 17%. In 2020 while television continued to remain the largest segment, digital media has overtaken print, and online gaming has overtaken a disrupted filmed entertainment segment. Digital media and online gaming were the only segments which grew in 2020 adding an aggregate of INR26 billion. Other segments have degrown by an aggregate of INR467 billion. While M&amp;E as a sector has usually grown and often outperformed India’s nominal GDP, the sector fell three times (3x) India’s nominal GDP fall of 8% due to the discretionary nature of the spend. Subscription revenues however proved their mettle by holding up better than advertising revenues. Sanjay Gupta, Chairman, FICCI Media &amp; Entertainment Committee, said, “Digital is fuelling an unprecedented growth in content creation and consumption in almost every Indian language, creating new economic opportunities for both the media and entertainment industry and creative professionals across the country. We need to capitalise on this and unlock the full potential of India’s creative ability to power India’s economic engine.” Ashish Pherwani, Partner and Media &amp; Entertainment Leader, EY India, stated, “The M&amp;E sector witnessed a shift in demand patterns as consumers actively sought alternatives and had the time to try new things. Consumption patterns shifted and increased across online news, gaming and entertainment. The supply side too transformed as companies took the opportunity to reinvent themselves. Every segment redefined itself across verticals by becoming medium agnostic and embedded video, audio, textual and experiential products to enhance their offerings. However, the compelling content created around news and escapism, and the passion to build some of India’s most powerful brands remained resolute.” Key findings <ul><li><cmsannotation type="cmsannotation" annotationid="Television:" text="Television:">Television:</cmsannotation></li></ul>The TV industry declined 13% from INR787 billion to INR685 billion in 2020. The largest M&amp;E segment saw a 21.5% fall in advertising revenues in 2020 to INR251 billion on account of highly discounted advertising rates during the lockdown months. Subscription declined 7% to INR434 billion due to the continued growth of free television, reverse migration and a reduction in average revenue per user due to part implementation of NTO 2.0. Regional channels received 27% more ad volumes than national channels in 2020. Major sport leagues got postponed, but IPL provided a much-needed revival push in sports viewership. Smart TV sets crossed the five million mark and grew their base by around a million homes. With people spending more time indoors the overall time spent watching TV increased by 9% over 2019. Key insights – Television segment revenues are expected to grow at a CAGR of 7% to reach INR847 billion by 2023 driven by increased base of subscribers as households continue to get televised. Growth will be driven by connected TVs which could cross 40 million homes by 2025 and free television could cross 50 million homes by then, thereby making core television a more massified product. The smart television will usher in an era of connected viewing which will enable viewers to interact with each other, as well as the broadcaster, through the content. The importance of regional and sports programming will increase, driving up both ad rates as well as end-consumer package pricing, subject to regulatory action. <ul><li><cmsannotation type="cmsannotation" annotationid="Digital media:" text="Digital media:">Digital media:</cmsannotation></li></ul>In 2020 digital media grew by 6.5% to reach INR235 billion and is expected to grow at 22% CAGR to reach INR425 billion by 2023. Digital subscription grew 49% in 2020 to reach INR43.5 billion as the pandemic and the consequent lockdown reduced fresh content on television, online sports went behind a paywall and the pandemic forced much of the population for longer periods indoors. Paid OTT subscriptions crossed 50 million for the first time in 2020. Digital advertising stayed stable on the back of increased allocation of ad spends by advertisers who accelerated their investments in digital sales channels. SME advertisers continued to increase their spends on digital advertising and experimented more with online e-commerce platforms. Key insights: Digital advertising is expected to outpace all other ad media by 2024 or 2025. The metrics that matter will change from monthly active users to daily active users, from audience numbers to engagement, loyalty and time spent, leading to platforms focusing on segmented audiences and community ownership. Newspaper digital products will increasingly go behind paywalls and it is expected to generate subscription revenues of INR4 billion by 2023. It is estimated that demand for original content will double by 2023 from 2019 levels to over 3,000 hours per year. The share of regional language consumption on OTT platforms will cross 50% of total time spent by 2025. <ul><li><cmsannotation type="cmsannotation" annotationid="Print:" text="Print:">Print:</cmsannotation></li></ul>Print has degrown 36% in 2020 due to the impact of COVID-19. Print’s revenue declines were led by a 41% fall in advertising and a 24% fall in circulation revenues. English language and metro newspapers were hit harder and struggled to get back their circulation post the pandemic, while regional language newspapers recovered a larger portion of their lost circulation. Print companies implemented significant cost reduction measures to achieve between 25% and 40% efficiencies, a significant portion of which can continue in the years ahead. Many print companies started conducting digital versions of their popular IPs and entered the high-volume but lower value digital events business. Key insights –Transformation in the print segment is expected to be in the areas of product realignment, revenue transformation, cost intelligence and digital demarcation. Print will need to focus on growing reach in its existing markets through a combination of identifying new micro-markets which are underpenetrated as well as forging bundle deals with direct to consumer aggregators like television, e-commerce platforms, OTT platforms, etc. Significantly, more industry-level shared services initiatives are expected to ensure cost efficiencies. Publishers can also implement process automation for productivity improvement across key business processes. The focus will remain on strengthening the print segment’s core capability to building communities but with a wider scope of offerings to them apart from just news. <ul><li><cmsannotation type="cmsannotation" annotationid="Online Gaming:" text="Online Gaming:">Online Gaming:</cmsannotation></li></ul>Online gaming was the fastest growing M&amp;E segment in 2020. The online gaming segment grew 18% in 2020 to reach INR77 billion aided by work from home, school from home and increased trial of online multi-player games during the lockdown. Online gamers grew 20% from 300 million in 2019 to 360 million in 2020. Transaction-based game revenues grew 21% on the back of fantasy sport, rummy and poker and casual gaming revenues grew 8%, led by in-app purchases. Key Insights: The segment is expected to reach INR155 billion by 2023 at a CAGR of 27% to become the third largest segment of the Indian M&amp;E sector. Gaming will become all pervasive and will proliferate across our lives. The segment will grow across all its verticals viz, esports, fantasy sport, casual gaming and other games of skill, but revenue growth will be led by mobile-based real-money gaming applications across these verticals. A nodal agency is required to bring clarity in regulations and well as implement responsible gaming guidelines and monitor areas like minor game play, security, data protection, content guidelines and training. <ul><li><cmsannotation type="cmsannotation" annotationid="Mergers and Acquisitions in M&amp;E" text="Mergers and Acquisitions in M&amp;E">Mergers and Acquisitions in M&amp;E</cmsannotation></li></ul>The sector continued to witness moderate deal activity, despite major disruptions brought by the COVID-19 outbreak. Although the number of deals increased from 64 in 2019 to 77 in 2020, deal value reduced to INR68 billion in 2020 from INR101 billion in 2019. This was largely due to the absence of big-ticket deals with only two deals crossing the US$100 million threshold as compared to four such deals in 2019. In line with the trend of the past three years, new media contributed to majority of the deals in terms of volume. Its share increased in terms of deal value from 37% in 2019 to 92% in 2020.

Print and TV degrow by 13% and 36% respectively in 2020: FICCI - EY report

<keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="6354504" type="UNKNOWN" weightage="20" keywordseo="Reliance-Jio">Reliance Jio</keyword> Infocomm is likely to become the top content aggregator as it has inked deals with top broadcasters and film banners. 
 
Reliance Jio has signed deals with broadcasters such as Star India, Zee Entertainment Enterprises (ZEE), Sony Pictures Networks India, Network18, Eros International, Shemaroo, Balaji Telefilms, Venus and Rajshri Productions, to gcontent on its platform. 
 
"We are providing very high speed data and expect more and more users to experience it," a Jio official told ET. 
While announcing a host of services such as cheap data and free voice calls, Ambani said Reliance Jio's plan is to offer high speed data with top notch content. 
 
Following its agreement with Jio, Star India had removed its content from all other platforms like Hotstar, which is now available on Jio app. 
 
"Unlike on other platforms like Airtel, where a consumer has to subscribe to our service, here Jio will pay us and consumer can access the content," Jyoti Deshpande, group CEO at Eros International, told ET. 
 
Jio is offering over 360 linear channels, including 30+ in HD, live on its app Jio TV, with a 7-day catch-up option. 
 
Ashish Pherwani, leader- advisory services, media and entertainment, at consulting firm EY, told ET, “There will be a lot of first-time users of high speed internet and it's good to convert those customers into long-term users by catering to their entertainment consumption needs.”

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