Mobile technology, consolidation, competition and broadcasting are a few game- changing challenges that the media and entertainment industry would have to confront in the coming year, said Ronnie Screwvala, CEO and founder chairman, UTV Group.
Giving the keynote address at Ficci Frames 2010 he said, “The fast changing mobile technology would be the key revenue earner as content on the mobile phone is going to be highly monetisable. Infact, telcos was making more money than any other medium, and the mobile phone is emerging as the number one camera in the world.” He further said that broadcasting, especially DTH, had changed the media landscape in India and by next year DTH would reach 30 million homes in India from the current 10 million.
He said the need of the hour is a 360 degree connect with the consumers as industry players have started looking beyond just the traditional mediums by reaching the consumers across multiple platforms in order to establish a stronger connect.
They are taking the help of multiple touch points at the same time to communicate to the consumer across platforms like TV, print, radio, OOH, films, internet, mobile and retail. Screwvala said gaming, is the most underconsumed market in India today. But all this is going to change as the worldwide gaming market is poised to become a $45 billion (Rs 25,2,000 crore) market with India poised to be the single largest market for gaming soon. Additional service tax in the media and entertainment industry can harm the industry which is already burdened by value added tax said, Screwvala and the media fraternity will meet the finance ministry soon to appeal against the proposed levy of service tax on the industry in the Budget 2010-11.
The government has, in the Budget, among other things, announced service tax on commercial use or exploitation of events like the IPL and T20 cricket tournaments. The Budget has also proposed to bring copyright on recording of cinematographic films and sound recordings under the taxable category of intellectual property rights.
Source: http://www.financialexpress.com/news/mobile-tech-consolidation-a-big-challenge/592266/
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