FDI, transparency needed for media industry to grow: IEC summit

MUMBAI: India Economic Summit 2005, jointly organised by the World Economic Forum and Confederation of Indian Industry, kicked off on 27 November.

A session on "Media and Entertainment: Opening the Window to the World" saw the participation of prominent media and management professionals such as Star Group CEO Michelle Guthrie, NDTV Convergence CEO Vikram Chandra, Indian Institute for Management and Development chairman NK Singh, chairman and WPP, United Kingdom & co-chairman of the summit Martin Sorrell.

According to Guthrie, the proliferation of content has ensured the importance of internet as a channel for information though satellites still remain the most cost-effective way for broadcasting television. She said there was a lack of awareness in the government about the wealth-creation potential of the industry. "There should be a consistency of taxation rules," opined Guthrie.

A startling point, said Chandra, was that the total market capitalisation of the listed television companies in India is about $500 million, which means that for $250 million, you can control the thinking of a billion Indians. He said the proliferation of news channels has made them chase higher TRP ratings. In turn, this "has lead to a race for the lowest common denominator". However, Chandra believes there is continued scope in TV for getting high TRPs with quality programming.

Addressing the session NK Singh said that the industry needed rationalisation of taxes as well as a framework that allowed film producers access to affordable venture capital. "There is a convergence law, but no convergence because of an opaque regulatory framework," said Singh. He added, "The industry needed to build up its infrastructure to become an outsourcing hub, for which the government should take proactive steps".

The media and entertainment industry needs a quick release for FDI, a more rational tax structure, and more openness, opined Sorrell. He added that laws governing Intellectual Property Rights (IPR) need to be strengthened in India to promote the industry. He said simplifying the tax structure and developing talent through adequate training would also speed up growth of the industry. Sorrell also asked the Indian government to restrict the Directorate of Audio-Visual Publicity (DAVP) from handling the advertising accounts of public sector firms and banks.

Member of the European Parliament, Brussels, Arlene McCarthy felt that the Indian media and entertainment industry needs to be managed more professionally with better governance. She said this, along with better handling of piracy and IPR issues, would encourage FDI, joint ventures and co-production. She underlined the point that the industry could attract FDI only if it demonstrated its ability and willingness to safeguard IPR.

Kirloskar's India-Japan Initiative chairman Geetanjali Kirloskar said the film industry had to run itself more professionally to attract investment. She said for improving the quality of content, the Indian media should partner with foreign organisations. Kirloskar reiterated that professional management and better financial systems would increase transparency in the industry and enable it to get FDI. Kirloskar called upon CII to take the lead in streamlining the regulatory framework for the media and entertainment industry.

Latest Reads
Amagi partners with BARC India to offer monitoring of geo-targeted TV ad-campaigns

Amagi Media Labs has entered into a partnership agreement with India’s apex television viewership monitoring body BARC India to help advertisers monitor geo-targeted ad-campaigns of brands across TV channels.

MAM Media and Advertising AD Agencies
iProspect conceptualises unique digital video for ICICI two-wheeler insurance

iProspect India has conceptualized and executed a unique digital video for ICICI Lombard General Insurance in their latest campaign on two-wheeler insurance.

MAM Media and Advertising AD Agencies
eBay engages consumer with live game on FB

MUMBAI: Festive season is a busy time for Indian brands, especially the e-commerce players given the shopping spree the nation witnessed around the time. Thus it becomes important to brainstorm on new and unique ways to get the consumer’s attention; something different from the unbelievable...

MAM Media and Advertising Ad Campaigns
Culture Machine & Quaker Oats aim to feed kids

As the festive mood gathers spirit in the country, Culture Machine’s digital channel Being Indian, in collaboration with Quaker Oats, have released a new campaign. Titled "Ek Muthi Sonu ke Naam", the video urges people to pause and spare a thought to the millions of children who go hungry.

MAM Media and Advertising Ad Campaigns
BTVi unveils new brand positioning

BTVi has unveiled its new positioning, #OpinionsThatCount, aimed at impacting the opinions of the influencers. With this, BTVi will be the voice and choice of the influential. An integrated campaign will be launched primarily catering to influencers, key decision makers and opinion makers.

MAM Media and Advertising People
Cornitos unveils 'Crispy' mascot

Cornitos, the flagship brand of Greendots Health food Ltd, rolled out its new brand campaign announcing the launch of its mascot. With its inception in 2009, it is for the first time that the brand has given a face to its much-loved Nachos category.

MAM Media and Advertising Ad Campaigns
Barbie's 'Power Of Play': Mattel, BBDO remind parents

MUMBAI: Mattel Asia has launched a new video for its Barbie® brand as part of its broader initiative to empower girls. Mattel Asia, takes on the widely held belief in Asia that imaginative play is not important to a child’s development, with the release of, “The Power of Play with Barbie,” a part...

MAM Media and Advertising Ad Campaigns
Zee Mundo hires Steinbranding

MUMBAI: Steinbranding, the international design agency with headquarters in Buenos Aires, responsible for the image of more than 50 channels worldwide, was chosen by the major Indian media group, Zee Entertainment Enterprises to create the brand, naming and on-air & off-air branding for Zee...

MAM Marketing Brands
Exquisite partners with Warner Bros. consumer products

Exquisite, an innovative and experienced player in the EMEA market, has teamed up with Warner Bros. Consumer Products EMEA (WBCP EMEA), on behalf of DC Entertainment, to create the first retail loyalty programmes featuring DC Super Heroes.

MAM Marketing Brands

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories