India’s Media & Entertainment Industry will be one of the pivots that could help achieve India’s goal of becoming $ 5 trillion economy. The industry is almost growing at 9% and is expected to expand at a CAGR of 13.5 per cent over 2019-24 to reach around Rs 307,000 crore (US$ 43.93 billion) by 2024. Audio Visual (Media & Entertainment) sector and services is one of the champion sectors identified by the Government of India growing almost at the rate of 25 %. As trends suggest, online gaming industry continued as the fastest growing segment followed by digital advertisements, digital subscription and animation & VFX.
The rapid proliferation of mobiles access is enabling on-demand, anytime, anywhere consumption and fueling demand for regional / local content. Focus on sports industry has encouraged global OTT platforms competing with domestic players for streaming rights. E-gaming is equally getting significant with millennial population, affordability and improved internet bandwidth. While 100% FDI is allowed in major segments of industry, global players are exploring opportunities in India for building business linkages and make investments at the backdrop of improved regulatory environment.
As the M&E industry faces several challenges amid the COVID 19 pandemic, it provides the opportune moment to revamp and undergo the necessary long-term structural changes required to achieve a vibrant industry. We seek to reinvent the industry with a greater resilience, India needs to focus on digital acceleration, to help increase operational flexibility, while enhancing user experience which will primarily be powered by Artificial Intelligence and Machine Learning. The need of the hour is for greater product innovation and as we continue to command consumer attention and facilitate social experience, it is imperative that we capitalise and seize the moment at hand.
The Indian AVGC segment imprint on Hollywood is growing rapidly with Oscar winning films such as The Shape of Water and Life of Pi special effects being outsourced to Indian studios. This presence is steeping its way into Hollywood with a lot of international VFX studios being set up in India.
To take deep dive into this, CII-PwC Report – “Reinventing with Resilience – Indian Entertainment and Media in the Wake of COVID-19” seeks to understand how the onset of the COVID has led to the industry shifting their focus – from mobilising resources during the crisis to stabilising and strategizing for the future.
AVGC has been identified as the growing segment of the media & entertainment industry, towards this, CII Summit FX 2020 will bring together bright minds of the AVGC segment and provides a platform for the stakeholders of the industry to converge and discus issues around Skill development & entrepreneurship, Virtual production, promoting VFX, women in AVGC industry, AR / VR industry, Digital humans, ecosystem for startups, remote working, in order to create a holistic environment that will allow for the Indian AVGC segment to transform itself while focusing on policy initiatives to drive exports, employment and the overall segment forward.
Shri Piyush Goyal, Hon Minister for Commerce & Industry and Railways has confirmed to join the programme.
Shri Prakash Javadekar, Union Minister of Information & Broadcasting and Environment Forest and Climate Change and Heavy Industries and Public Enterprises GoI and Shri K. T. Rama Rao, Minister of Information Technology Government of Telangana have been invited for the programme.
Some of the eminent speakers from across the world are –
Mr Guillaume Rocheron VFX Supervisor, MPC Film, Academy Award Winner for ‘1917’ USA. MPC Film
Mr Quentin Staes-Polet GM India and SEA Epic Games, Singapore
Ms Margaret Dean, President & Head Women in Animation & Studio for Crunchyroll USA
Ms Ann Hand Chairman & CEO Super League Gaming USA
Dr Mike Seymour Ph.D Researcher Lecturer Writer – Tech Specialist Digital Humans: MOTUS Lab USYD & fxguide co-founder. Australia
Mr Dan Smith, Managing Director Rockstar Games India
Ms Diane Ikemiyashiro VP – Current Series/Original Programming Disney Junior USA
Mr Leon Christian Animation Dept Director – Technicolor Animation & Games
With over 30+ Knowledge Sessions and over 65 speakers deliberating on a wide range of issues that cuts across the spectrum looking to develop a cohesive industry engagement with core cross sectoral policy dialogues and strategic exchanges.
CII Summit FX 2020 will see experts from the UK, USA, Australia, France, Singapore and key states like Telangana, Karnataka and Punjab together in the first of its kind, digital thought leadership platform to discuss the AVGC segment, and the transformation of India into a global leader. This platform will seek to curate and create an environment conducive to help build a better future and achieve the targets of the segment. CII is committed to making M&E in India a robust industry, with the AVGC segment leading the way.
The Summit FX will be organized from 1- 4 September on CII Digital Platform.
27 August 2020