Asia to emerge as next hub for media & entertainment

MUMBAI: The second leg of Ficci Frames kicked off today with three stalwarts from the industry narrating the India entertainment story. Reliance Entertainment chairman and moderator for the session Amit Khanna was accompanied by producer and director Shekhar Kapur and filmmaker Farhan Akhtar to highlight the critical role of the Indian media and entertainment industry in reaching out to the world. Though our movies have travelled globally in the past, the large domestic market in India has largely restricted the industry to focus inward, which has resulted in a rather ghettoized expansion of India cinema to only reach out to the Indian diaspora, said Khanna in his opening statement.


However, another deficiency that plagues Indian cinema is in the fact that it is not being scaled up in revenue, he added.

"Concurrently we have also seen a very vibrant television market shaping up in India, that big global media giants like Disney, Newscorp and Sony have bet big on its expanding the potential.

This prompted Kapur to add that Hollywood is gradually on the decline as the buoyant Asian market is flexing its muscle so much that he foresees a situation wherein Asia‘s consumption power would grow to about 75 per cent of absolute revenue in the media and entertainment sector, thus facilitating either Mumbai or Singapore to emerge as the next media hub. Stating that entertainment is technology driven, the need of the hour would lie in the creation of intellectual capital and this resurgence of ideas would help transform this sector from performing largely back office functions, as it often does especially with respect to animation.

With respect of co-productions Kapur highlighted a word of caution against large media conglomerate funding, and what is often seen in as a Hollywood model, is standardization. Such associations although vital as they have the financial muscle and advertising power tend to take away the independence of a film maker. Therefore, he suggests that ‘particularization‘ as opposed to generalization is the way forward for the industry as he refers to these corporates as "marketing dragons that need to be fed."

Farhan shared the same sentiment, saying he now chooses to fund his productions on his own. His only co-production thus far has been with UTV for Laqshya. The large capital resources provided by behemoth corporate houses have a stretched managerial order at the organization that create decision making problems for the filmmaker and both Kapur and Akhtar agree that it strips the filmmaker of all freedom. To sum up, Kapur concluded, "The more we get separated from ownership, the less innovation occurs."


Latest Reads

MIPCOM 2016 sets new records

CANNES: Record attendances at MIPJunior and MIPCOM, more World Premiere TV and International Screenings than ever, a remarkable Japan Country of Honour programme, a Personality of the Year, Shonda Rhimes, who packed delegates into her keynote interview and a tour de force opening keynote from Sony...

Specials Event Coverage Mipcom
BidSlate offers film buyers, content-owners negotiation platform

What if filmmakers didn’t have to rely solely on film markets and sales agents to sell content? And international film buyers had continuous access to a 24/7 international marketplace populated by an ever-growing catalog of content?

Specials Event Coverage Mipcom
Two popular BMX content creators join XTreme video multi-platform network

XTreme Video, the leading Multi-Platform Network (MPN) for extreme athletes and creators with over 200 million views each month and more than 50 million social followers, today announced the addition of two of YouTube’s top BMX creators, KinkBMX and Boqer123, to the XTreme Video network. Heading...

Specials Event Coverage Mipcom
INsight-Flare to produce reality competition 'The Line'

INsight TV has commissioned yet another new original format in Ultra HD, partnering with Flare Media to produce the reality competition The Line.

Specials Event Coverage Mipcom
FremantleMedia brings 'Familiar Taste' to MIPCOM

FremantleMedia is bringing a brand new title to MIPCOM 2016, which promises to leave viewers feeling warm inside. Familiar Taste sees well-known faces thanking those people who have had a major impact on their lives by sharing with them a surprise meal they have cooked themselves.

Specials Event Coverage Mipcom
MIPCOM: Beta Film delivers interactive TV-event 'The Verdict' throughout Europe

The interactive TV-event The Verdict continues its roll-out throughout Europe and will be simultaneously broadcast in six countries with additional territories to follow. The MOOVIE production by Oliver Berben (“Shades of Guilt”, “Hotel Adlon – A Family Saga”) will be screened in Germany, Austria,...

Specials Event Coverage Mipcom
'Inside the Masters of Dirt' on INsight TV to have non-scripted reality series in ultra-HD

INsight TV has commissioned a new, non-scripted reality series Inside the Masters of Dirt with XTreme Video, which follows the crew that produces the popular freestyle motocross arena show of the same name. Featuring fearless leaders in extreme motorsports, XTreme Video will be the first to present...

Specials Event Coverage Mipcom
MIPCOM: Cyber Group Studios signs deals with broadcasters, digital platforms

On the heels of MIPCOM Junior, Paris-based producer and distributor Cyber Group Studios continues to establish a strong presence worldwide by signing new agreements with buyers including major broadcasters and digital platforms for more than ten series of its catalogue. Deals cover players such as...

Specials Event Coverage Mipcom
Bloomberg Media Distribution signs Hollywood Reporter, Billboard, El Financiero, STAT as partners

Bloomberg Media Distribution today announced a partnership with a raft of premium publishers to provide business, technology, entertainment, music, lifestyle and health news to global audiences. Launched at MIPCOM, Bloomberg Media Distribution will distribute The Hollywood Reporter, Billboard, El...

Specials Event Coverage Mipcom

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories