Television

Budget 2014 is an opportunity for M&E to grow: Sudhanshu Vats

The new government’s overall inclination towards development brings with it great optimism about the new Budget (2014) for me – not just as the head of an organisation but also as a representative of the Media and Entertainment industry. In fact, the Media & Entertainment industry experienced a whiff of fresh air with the new I&B Minister’s thoughts at the recent CII CEO roundtable. Eminent colleagues from across the industry raised key issues, which Shri Javadekar patiently heard and responded to – a sign of the new government’s strong preference for accountability and focus on governance.

 

The industry is poised for exponential growth during the term of this new government – almost doubling every year. It has the potential to provide almost six million direct jobs and also add to the economy as an aid to tourism.

 

After the extensive discussions and dialogue with colleagues and members of this bustling industry, I’ve penned some suggestions that can fuel the industry to reach never-before levels of growth.

 

Accountability

 

Accountability is the one thing that lacks processes in the Media & Entertainment space. A single-window clearance mechanism for permissions, especially for films and events, will motivate the industry to concentrate more on revenue streams rather than go around in circles. The wish list would remain only partially addressed without queries and licenses becoming more time-bound.

 

And while we expect an evolution in policies, keeping them clear and consistent with foresight at the back of the mind constantly, future action can be planned at the organisational level with greater certainty and generate opportunities for employment in large numbers, thus contributing significantly to the economy.

 

Pragmatic Policies

 

The media and entertainment industry is currently valued at USD 20 plus billion with significant growth potential. We’re poised to catapult to the next level with a few pragmatic policy reforms. Additionally, the M&E industry has the capacity to generate almost six million jobs directly and also further boost sectors like tourism.

 

More Spending Power

 

Rationalising Income Tax slabs is a key step towards taking the burden off the consumer’s shoulders. He will have more money to spend on his favourite means of recreation – entertainment.

 

Tax Abatement

 

And while we are on the topic of the Media & Entertainment industry and its role in the economy, one of the biggest losses I believe that it incurs is almost the one-third of revenue that it gives away in taxes and multiple licence fees over and above recurring commissions. These need to be re-evaluated and rationalised. In anticipation of GST implementation, entertainment and service taxes can be lowered to a more reasonable level.

 

Considering the premise of development that the new government has adopted, we expect a growth oriented budget, laying down a clear and consistent long-term roadmap. These steps that I have attempted to chalk out, will only allow the entire industry to collectively entertain India even more, even better!

 

(These are purely personal views of CII National Committee on Media & Entertainment chairman & Viacom18 Media group CEO Sudhanshu Vats and indiantelevision.com does not subscribe to these views.)

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/26/Prannoy%20Roy.jpg?itok=O75DOjIQ
NDTV 24 x7 expands its presence in Singapore

New Delhi Television Limited (NDTV) on 26 September announced the launch of its flagship channel, 'NDTV 24x7', on Singtel in Singapore.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/26/Untitled-1_26.jpg?itok=crzL0Kg-
Chrome week 38: English movies genre tops chart with 4.8 % OTS

The English movies genre emerged as the gainer in Chrome’s opportunity to see (OTS) analysis in six metros by registering an increase of 4.8 per cent. Movies Now was the leader with 49.6 per cent OTS in week 38.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/25/ipl800x800.jpg?itok=avJ0Q0ML
BCCI’s cricket media rights bonanza

MUMBAI: The Board of Control for Cricket in India (BCCI) has forecast that it is going to take home a whopping 60 per cent plus more media rights income from cricket in the financial year 2016-2017. The figure it has kept in its sights is Rs 1036.80 crore. In 2015-16, it had budgeted a figure of Rs...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/24/Untitled-1.jpg?itok=uUuTMLCE
Uri reaction: Zee considers dropping Pak shows from Zindagi

It makes sense, nationalism-wise. But, does it make sense, business-wise? An unexpected yet ideal tweet by media baron Subhash Chandra has catalysed a hot debate whether film actors from a hostile country should be allowed to earn millions working in the Indian film industry. His tweet follows in...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/24/non-%20tv.jpg?itok=UVXFUvEj
Non-news temporary uplinking approvals in 15 days

NEW DELHI: Applications from all non-news (general entertainment) television companies for temporary uplinking permission from the Government should be made at least 15 days prior to the scheduled events.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/23/Untitled-1_33.jpg?itok=XD1Juft_
DD allocates Rs 4.5 lakh for handloom programmes

Six kendras of Doordarshan will receive a total amount of Rs 4.5 lakh for telecast of programmes relating to National Handloom Day celebrated by the Textiles Ministry last month. The decision to reimburse the six stations for varying amounts was taken yesterday (22 September 2016).

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/22/Untitled-1_38.jpg?itok=ZbBkHH8h
Star Gold to air Dishoom on 25 Sept

Star Gold announces the World Television Premiere of one of the biggest hits of the year - Dishoom starring Varun Dhawan, John Abraham, and Jacqueline Fernandes, directed by Rohit Dhawan.

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/22/Untitled-1_37.jpg?itok=BPSmaShG
DD media partner of Ziro Festival

Doordarshan is the media partner of the Ziro Festival of Music (ZFM) commencing today at the remote Ziro valley of Arunachal Pradesh.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/09/22/BARC_1.jpg?itok=tIWSy6so
Comedy Central, Movies Now, Discovery, Living Foodz ruled in BARC week 37

The English entertainment genre was dominated by Comedy Central whereas Movie Now retained the top position in the English movies’ genre. According to the week 37 ratings data of Broadcast Audience Research Data (BARC) India, Discovery Channel continued to rule the infotainment space. Living Foodz...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories