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A Decade of Digital Transformation Ahead!

The Indian media & entertainment industry has the potential to reach Rs. 6,50,000 crores by 2025; this includes revenue from broadband. It would imply growth to  Rs. 2,50,000 crores by 2020. Shaping the Industry at a Time of Disruption, a recent report released by CII-BCG, addresses the strategic choices the industry must make and the support the government must provide to attain this dream. Currently valued at  Rs. 1,15,500 crores, the next decade will be redefined by a digital transformation. Content, distribution, consumption, and advertising trends will undergo a tectonic shift to feed this revolution.

The industry structure is expected to transform. Linear value chains of the past will collapse into nonlinear structures, accommodating new roles and new players, while those that do not embrace the change will wither. Content aggregation and management will become as important to the value chain as content creation. The industry structure will also become more complex and players will need to collaborate and compete at the same time with the game moving to winning ecosystems rather than isolated success models.

This change will also create new winners and losers. The winners will do things differently. They will think big, leverage multiple monetization approaches, and invest heavily in content.Within this environment of change, India has the potential to emerge as a global M&E hub. Opportunities, content, and players are becoming universal and India – backed by a stable macroeconomic outlook, a youthful, English speaking workforce and the government’s Make in India and Digital India blueprints – is strongly positioned to exploit such trends.

While macro factors like growing economic activity and consumer demand are the tailwinds, the industry and the government must come together to invest in education and infrastructure.

Improving the regulatory environment will be critical. Regulatory bodies will need to exhibit greater aggression to ensure that optimal infrastructural climate is available for digitization. Taxation regimes can be collaboratively reassessed to ensure a cohesive environment for growth.

A positive environment for all stakeholders including the government, regulators, industry players, advertisers, and consumers is imperative.

We wish our readers a very happy and prosperous Diwali!

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