29 June 2022 02:04

GLOBAL HEADLINES

Post by Editor
- May 18, 2022
Following its announcement of exclusive discussions on 3 February 2022, BT Group plc (“BT Group”) has agreed a set of definitive agreements with Warner Bros. Discovery, Inc. (“Warner Bros. Discovery”) to form a 50:50 joint venture company to create a new premium sport ...
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To reach INR 4,30,401Cr by 2026: PwC Report

India’s Entertainment & Media industry is expected to reach INR 4,30,401Cr by 2026 at 8.8% CAGR. These figures come from PwC's Global Entertainment & Media Outlook 2022-2026, the 23rd annual analysis and forecast of E&M spending by consumers and advertisers across 52 territories.

Rajib Basu, Partner & Leader – Entertainment & Media, PwC India said, ”The Indian Media and Entertainment outlook for the next few years is quite unique. There is an exciting pace of growth of digital media and advertising led by the deeper penetration of internet and mobile devices in our market. At the same time, traditional media will hold their steady growth rate over the next few years. We shall see a very different profile of media and entertainment related businesses and revenue models emerging in the digital space once we have the rollout of 5G.”

Key findings for India in this year’s Outlook include:

OTT Video: Total OTT revenue more than doubled in 2020, partly driven by the absence of public entertainment and additional time at home. This trend continued in 2021, with revenue nearly doubling again. While growth rates will slow, the market will still expand at an impressive 14.1% CAGR to reach INR 21,032Cr in 2026. It is subscription services that are driving this rapid growth, accounting for 90.5% of revenue in 2021 and set to account for 95% in 2026.

Newspapers & consumer magazines: India will see an increase in total newspaper revenue at a 2.7% CAGR from INR 26,378Cr in 2021 to INR 29,945Cr in 2026. India, which will leapfrog both France and the UK to become the fifth-biggest newspaper market by 2026, will also be the only country to grow total newspaper print revenue consistently across the five-year forecast period. India will also be the only country in the world to grow daily print newspaper copy sales (by volume) during the forecast period. The increase at a 1.3% CAGR – to an average of 139mn daily average print newspaper sales in 2026, one-third of the global daily total – will mean that India will overtake China as the biggest world market for print edition readership in 2025.

Out-Of-Home Advertising: India’s out-of-home (OOH) advertising market is demonstrating one of the strongest comebacks globally and is predicted to grow at 12.57% CAGR to reach INR 5,562Cr in 2026. Total OOH revenue recovered by 63.4% in 2021 over the 2020 levels which was one of the steepest downturns of any market and the biggest fall in revenue among the world’s major economies. In 2021 total OOH revenue was up to INR 3,076Cr. The momentum of this rebound will carry over into 2022, and by year-end the market will be at the value INR 4,084Cr.

Video games & esports: India’s total video games and esports revenue was INR 16,200Cr in 2021, and is forecasted to reach INR 37,535Cr by 2026, increasing at a 18.3% CAGR. While still a fairly small market for the country’s size and population, India is the third fastest-growing video games market in the world, after Turkey and Pakistan. India's video games market is predominantly geared towards social/casual gaming. With revenue of INR 13,244Cr, social/casual gaming made up 83.9% of India’s total video games and esports revenue in 2021. Expanding at a 20.6% CAGR, social/casual gaming revenue is expected to reach INR 34,581Cr by 2026. A big enabler of this segment will be the emergence of 5G technology in the market.

TV advertising: After several years of rapid expansion, India’s TV advertising market was hit by the COVID-19 recession in 2020, causing a -10.8% decline over the 2019 levels. This proved to be a temporary setback. With the country’s return to economic growth in 2021, this segment grew by 16.9% to INR 32,374Cr. The market will expand further at a 6.3% CAGR to reach INR 43,410Cr by 2026. At this time, India will be the fifth-largest TV advertising market globally, after the US, Japan, China and the UK.

Cinema: India is the third-biggest market globally in terms of admissions after China and the US in 2021 and is set to grow at the highest growth rate amongst all the segments at a staggering 38.3% CAGR in the forecast period to reach INR 16,198Cr by 2026. In 2021 more than 379mn cinema tickets were sold in India, a healthy increase year-on-year on the 278mn admissions in 2020 (and higher than the 226mn admissions in the US in 2020) though that had been a huge (-85.4%) drop as compared to the 1.9bn tickets sold pre-pandemic.

Internet advertising: India’s Internet advertising market is set to increase at a 12.1% CAGR to reach INR 28,234Cr by 2026. Given India’s mobile-first Internet access market, the mobile sector dominates the country’s Internet advertising market, accounting for 60.1% of total revenue in 2021, rising to 69.3% by 2026. Display advertising dominates the mobile sector, accounting for 90.7% of revenue in 2021 though its share will fall to 88.9% of the total in 2026. India’s wired Internet access revenue amounted to INR 6,379Cr in 2021 which is predicted to increase at a 6.3% CAGR to reach INR 8,829Cr by 2026.

Music, Radio & Podcast: India’s music, radio & podcast segment grew at 18% in 2021 and is set to grow at 9.8% CAGR to reach INR 11,536Cr by 2026. India’s Recorded Music industry (which is a key sub-segment) is making steady progress at a CAGR of 13.6%, thanks to streaming models. Here the revenue has grown from just INR 1,663Cr in 2017 to INR 2,568Cr in 2021, and is expected to continue on this path to INR 4,849Cr by 2026.On the other hand the country’s Live Music industry remains small, and it shed two-thirds of its revenue in the first year of the COVID-19 pandemic. Revenue ticked up in 2021 to INR 434 Cr and is forecast to grow to revenues of INR 1,052 Cr in 2026, increasing at a 19.2% CAGR.

Other factors impacting the global E&M sector:

Global Revenue - Fastest growing segments

After a stellar 2021, virtual reality (VR) continues to take steps towards becoming a mass-market proposition. VR gaming content is the primary contributor to total revenue, bringing in US$1.9bn in 2021 and highest CAGR for the forecast period. Total cinema revenue will rise globally over the forecast period, and the pandemic-driven losses experienced in 2020 will be reversed, with the market hitting new heights in 2023. Box office revenue is set to reach US$49.4bn in 2026. Internet advertising comfortably leads the way as the largest advertising segment. An exceptional 31.6% year-on-year rise in 2021 put total global Internet advertising revenue at US$468.4bn, up more than US$112bn in absolute terms in 2020.

The metaverse awaits

In the not-too-distant future the metaverse could become a stunningly virtually realistic world where individuals access immersive virtual experiences, through VR headsets or other connecting devices. Because the metaverse is an evolution that may profoundly change how businesses and consumers interact with products, services and each other, its potential financial and economic value goes far beyond VR. In time, much of the revenues associated with video games, music performances, advertising and even e-commerce could migrate into the metaverse.

How big is the E&M opportunity in the metaverse? The fast-growing market for VR is a starting point to consider. It is currently one of the smaller segments tracked, but the 36% rise in global spending over the past year is a hint of its long-term potential. The global installed base of stand-alone and tethered VR headsets is projected to grow from 21.6m in 2021 to 65.9m in 2026.

Werner Ballhaus, Global Entertainment & Media Industry Leader, PwC Germany, said: “Industry press tends to focus on the companies that have dominated the E&M industry. But it is the choices that billions of consumers make about where they will invest their time, attention and money that are fueling the industry’s transformation and driving the trends. We are seeing the emergence of a global E&M consumer base for the coming years that is younger, more digital and more into streaming and gaming than the current consumer population. This is shaping the future of the industry.”

This weekend, catch the two impactful films, ‘The Kashmir Files’ and ‘Attack’ on Zee Cinema on 25th and 26th June at 8pm respectively

Known to bring entertaining films, compelling stories and refreshing plots, Zee Cinema is the go-to channel for a fresh breath of immersive blockbusters. Taking their philosophy of Seene Mein Cinema ahead, the channel is back with the World Television Premiere of the two powerful films that have challenged the thinking of audiences - presenting the World Television Premiere of ‘The Kashmir Files’, a film that touched an emotional chord of an entire nation with its honest storytelling and stunning performances on the 25th June at 8pm followed by the full-blown sci-fi action thriller film ‘Attack’ that introduced India’s first-ever super-soldier on 26th June at 8pm.

The stirring masterpiece, The Kashmir Files, struck a strong connection with audiences and critics alike. The colossal conversation rounds and overwhelming response from the global viewers at the box office is what holds testament to what sincere storytelling with riveting execution is capable of. Donning the role of Pushkar Nath Pandit, Anupam Kher has given one of the most defining performances of his career. Speaking of defining performances, we see gripping performances from Pallavi Joshi, Mithun Chakraborty and Darshan Kumar in significant roles that left the audience in absolute awe. A directorial marvel by the award-winning filmmaker Vivek Agnihotri, The Kashmir Files,
uncoil the saga of Kashmir’s history in the voice of the Kashmiris. Recounting the tragic event of exodus of Kashmiri Pandits in 1990 in its honest form, left the world spellbound. With the sizable reach of Zee Cinema, the most awaited film by the viewers, The Kashmir Files, will be available to the entire Nation.

Sharing his experience, Anupam Kher said, “Being someone who has Kashmiri roots, this film was also instrumental in bringing back a lot - memories of cherries coming into my house through a window back in Baramulla, the pleasantness of Kheer Bhawani, Nishad Garden, and Dal Lake that I keep thinking of even after having travelled the world. The Kashmir Files is an impeccable example of how a mid-budget film with an impactive story can reach such great heights. For the audience, watching it was an emotional experience. It was instrumental in bringing out a story that deserved to be told, striking a special and lasting connection with the viewers, and to any actor that means more success than anything.”

Director Vivek Agnihotri said, “This film is about humanity, it's about oneness, and with the response received, I believe the audience of the country, as well as outside, have resonated with it. The emotions that this movie has evoked in people, have left a lasting impression on their mind. I am a person with integrity. I want to work with talented people. My aim is to do creative work and showcase Indian films as a soft power to the world. The Kashmir Files has helped reinforce my belief in the strength of honest storytelling.”

“Vivek and I spent four years on the film, and three years on the research. We went down to victims’ houses, interviewed them, sat with them, and ate with them. Apart from my experience of being a producer for the film, my role was also really different from what I’ve done in the past, so this came as a welcome change for me. This is a story that needed to be told in all dimensions, with great fidelity, and a super-strong portrayal of every character,” shared Pallavi Joshi.

The advent of technology has taken Warcraft to a new height. While our weapons and strategies were upgraded with technology, Attack took this invention to another level and introduced India’s first ever AI driven Super-soldier. The film showcases how tech induced warfare helps to reduce any kind of human collateral damage. With scintillating performance by John Abraham along with Rakul Preet Singh and Jacqueline Fernandez, get set to be immersed in a wondrous experience of high-octane action, thrill, lined with an impactful story of patriotism. Attack, one of India’s first sci-fi action thrillers portraying an unattempted concept of a super-soldier on a quest to destroy some of the most villainous terrorists, won over the audience with its adrenaline-fueled cinematic experience. So, get ready for an ultimate experience jab Ek super-soldier karega aatank pe attack!

Talking about the film, John Abraham said, “Attack is not a futuristic film, but it's a very relevant film. I believe that we might anticipate such technology a few years down the line. The idea with Attack was to challenge, so we are challenging the audience's mind and trying to do something different. If Hollywood can make it, why can’t India? This film is my humble attempt to make India proud. We've all heard that films are made for masses or classes, but I don't think so. I only think there are two kinds of films: good films and bad films. And this is a good film that I believe families and people of all ages will enjoy. This isn’t a regular action film, but it is meant to put an important message across – nothing can come in the way for a true patriot, as he will fight for his country selflessly, and in all passion with a staunch belief that his nation comes ahead of everything.”

Rakul Preet Singh added, “Attack is a film I am proud of and will always be. Ironically, as a kid, I wanted to be a scientist and with this film, I got to chase that dream. We've seen Captain America and Iron Man on international levels creating a space in global audiences' minds. Attack is a great experiment from India. It's an under-explored genre. More than an actor, after looking at the film as a viewer, what personally spoke to me deeply was how John’s character fought against terrorism selflessly, and relentlessly portraying the essence of a true patriot despite all limitations. Today, we're a part of a great space. I feel all kinds of cinema and experiments are being celebrated and it is this sentiment that will shape the industry from now on.”

Attack moves along the quest of a super-soldier who has lost everything and puts his life on the line to serve his nation, willing to make the ultimate sacrifice.

Block your calendar for the World Television Premiere of ‘The Kashmir Files’ and ‘Attack’ on Zee Cinema on 25th and 26th June at 8pm respectively!

Twitter's board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday.

Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen.

The board "unanimously recommends" that shareholders "vote (for) the adoption of the merger agreement," according to a document filed through the Securities and Exchange Commission (SEC). The board is also asking Twitter shareholders to okay any financial benefits the company would have to pay its executives following the merger.

On Tuesday at the Qatar Economic Forum in an interview with Bloomberg, Musk listed the approval of the deal by shareholders as one of several “unresolved matters” related to the Twitter deal.

Twitter HQs will no longer be the bastion of the left leaning folks. Musk has been a vocal critic of many of the company's policies and practices. Current crop of management will be axed. 

Padmavati & Geeta to air from 27th June Monday to Saturday from 12noon

Lajjat Maharashtrachi to air from 27th June Monday to Saturday from 2.30 to 3.30pm

In this fiercely competitive market, Colors Marathi has been winning hearts across Maharashtra with its vivid range of Fiction and Non-Fiction shows. Colors Marathi has come up with shows that focus around stories of progressive female protagonists who give hope for the new generation and inspire women. The channel has recently announced the introduction of its afternoon slot with the launch of Padmavati, Geeta from 27th June. Colors Kannada’s successful show is all set to recreate its magic in Colors Marathi. The fiction shows will start from 27th June Mon to Sat at 12 pm and 12.30 pm respectively. Another cookery show “Lajjat Maharashtrachi” is also set to go on air from 2.30 to 3.30 pm on 27th June.

Padmavati revolves around two protagonists Tulsi and Samrat. Tulsi, is a simple girl who stays with her family in a small village in Karnataka. Tulsi is a theist and a believer in Hindu Gods and Goddesses. She believes whatever happens in her life is the wish of Goddess Padmavati and she gladly accepts it. On the other hand, Samrat, is a superstar who is rich and hardworking but is an atheist. Life has its own ways of showing us new avenues and they get married to each other. Their contradictory beliefs create misunderstandings and thus becomes an impediment to their relationship.

Geeta is a story about a girl whose father thinks that having a girl child is a burden. Geeta wants to prove her father wrong and is working hard to thrive in the world. She meets Vijay at her college who keeps threatening her and cheats in the examination. Geeta’s father asks her to drop out of college and at the same time Vijay fails in the exams. Both of them plan to take revenge but under difficult circumstances they get married. Will they come close or the hatred that they have for each other will increase with each passing day?

Colors Marathi will also launch the cookery show Lajjat Maharashtrachi which will be hosted by Varun Inamdar, mentor-guest chef on Master Chef India. This show will bring together different cuisines to the new culinary world for the masses. This show will have guests from celebrities to food blogger. From revamping classic recipes to a fusion of different cuisines, nothing is off the chef's table. With a pinch of fun and a dash of entertainment, this cookery show will leave you wanting for more.

Aniket Joshi, Business Head, COLORS Marathi Said, “This is the first time we are introducing the afternoon slot in our channel. The afternoon band is the me time for many viewers and we believe that introducing this shows are the best method to make further inroads into our viewers’ homes. We are glad that we are bringing best of content from our network channel in our own language and we only hope that the audience will love the stories.”

Viraj Raje, Programming Head, COLORS Marathi said, “Our goal is to make compelling content available to consumers across all parts of the day. There is a sizeable television viewing audience in the afternoon. Our aim is to present the audience with a gamut of shows portraying various emotions. In the afternoon, usually most of the woman in the family retire and have few moments to herself and the cookery show is a perfect one for them. We hope that the shows with their varied backgrounds will be liked by the audience and they will develop a habit of watching in the afternoon through this shows.”

Watch Padmavati, Geeta starting 27th June Mon to Sat at 12 and 12.30pm respectively & Lajjat Maharashtrachi at 2.30 pm only on COLORS Marathi.

The Board of Directors of Associated Broadcasting Company Pvt Ltd (ABCPL) has approved the appointment of Barun Das as Managing Director and CEO of TV9 Network with effect from June 22, 2022.

Das has been associated with TV9 Network since August 2019 and is currently serving as its CEO. Under his leadership, TV9 Network has achieved the distinction to become the undisputed number one news network in the country.

He is an alumnus of the Indian Institute of Technology (IIT), Madras, Indian Institute of Management (IIM), Kolkata and the London School of Economics (LSE). His last corporate assignment was as the CEO of Zee Media Limited where he worked for over five years.

ABCPL has also approved the appointment of veteran journalist Hemant Sharma, as Whole Time Director on the Board.

Hemant Sharma, Ph.D. from BHU, who has been associated with TV9 Network since early 2019, will continue to supervise the editorial affairs of TV9 Bharatvarsh.

Sharma is an award-winning journalist, author and academician. He has earlier worked in leadership roles across major print and television news brands including Jansatta, Hindustan, and India TV, among others. He also serves as Visiting Professor at Banaras Hindu University (BHU).

These appointments are subject to AGM and other statutory clearances

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