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PwC says Indian entertainment and media industry to outpace the world’s by 2021

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PwC says Indian entertainment and media industry to outpace the world’s by 2021

[vc_row][vc_column][vc_column_text]The report carried in Business Standard says the sector will outpace India’s GDP growth.

PwC’s 2017 Global E&M Outlook projects the global entertainment and media industry will clock 4.2 per cent annual growth between 2016 and 2021 while the Indian industry is expected to grow at 10.6 per cent to exceed Rs 291,000 crore by 2021.

The key takeaways from the report are in line with major industry trends. TV advertising will continue to command a huge share of the advertising pie, though Internet advertising will emerge as the fastest growing advertising platform.

The report also predicts India will be among the largest and fastest growing newspaper markets in the country, owing to the popularity of vernacular publications, and rising literacy. “Unlike the global economy, which will see a shrinking contribution from the sector over the period, in India the sector’s growth will outpace the GDP growth rate,” said Frank D’Souza, partner and leader, entertainment and media, PwC India.

“Being a relatively under-developed market in per capita spending will allow the Indian industry to grow at 10.57 per cent over the next five years to an overall size of Rs 290,539 crore,” he added.

“Also being the least digitised market will allow the traditional media to grow without being disrupted by digital competition,” he said.

Television subscription revenue is expected to grow at 11.6 per cent annually (global 1.3 per cent) from Rs 52,755 crore in 2016 to Rs 90,713 crore in 2021. Though subscriber numbers are still growing, the report predicts the explosive growth of the recent past will not be replicated.

While the cable market is approaching a saturation point it, will continue to account for over 55 per cent of the total pay-TV market in 2021.

TV advertising will rise from Rs 21,874 crore in 2016 to Rs 37,315 crore in 2021, growing at 11.1 per cent. Globally, TV advertising is expected to grow at 2.1 per cent over the forecast period.

India is ranked eighth in the Asia-Pacific region in Internet advertising. The segment is growing faster than any other advertising platform at 18.6 annually, yet it is still an immature online ad market due to lack of Internet access among Indians.

However, this is double the global growth rate, estimated at 9.8 per cent.

Currently mobile Internet advertising comprises 27.6 per cent of total online spending, marking a clear gap between Indians with mobile access and brands reaching out to the mobile audience.

India’s Internet video segment revenue in 2016 was Rs 560 crore and will grow at 22.4 per cent annually (global 11.6 per cent) to Rs 1,540 crore in 2021, according to the report.

Transactional video-on-demand is expected to account for over 61 per cent of total Internet video revenue in 2021, with many households not wanting to commit to the regular payments of subscription video-on-demand.

Content providers will see more traction by breaking content into snackable segments and charging only for those rather than providing long format content. For example, people will be more willing to pay for the highlights of a cricket match than watch the whole match on a paid platform, according to the report.

Box office revenue is expected to grow from Rs 10,957 crore in 2016 to Rs 18,047 crore in 2021, at an annual rate of 10.4 per cent. Globally, it is estimated that box office revenue will grow at 4.4 per cent annually with mature markets like the US facing challenges in attracting footfalls to cinema halls.

In India, cinemagoers will rise from an estimated 2 billion in 2016 to 2.3 billion in 2021 and ticket prices will rise at 7.9 per cent annually over the period.

India is one of the few major cinema markets in which 100 per cent digitisation of screens has not yet been achieved, and it is not expected to occur over the forecast period.

Publishing in India is expected to grow from Rs 38,601 crore in 2016 to Rs 44,391 crore in 2021 at an annual rate of 3.1 per cent. Book publishing is projected to grow at 6.1 per cent annually over 2017-2021 while magazines are expected to grow at 3.3 per cent annually over the period.  The Indian newspaper industry will grow from Rs 23,161 crore in 2016 to Rs 24,447 crore (1.1 per cent) in 2021, distinctly positive when compared to the segment’s 2.7 per cent degrowth globally predicted by PwC.

Courtesy: Business Standard

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Google restores delisted Indian apps after government intervention

Google on Saturday restored all Indian apps it had removed.

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Google has started to restore all the delisted Indian mobile apps on Play Store agian, which they had removed due to a disagreement over service fees. After a discussion between company representatives and IT Minister Ashwini Vaishnaw, the decision was made, according to sources.

The step was taken in response to Vaishnaw’s strong statement in which he said that it is not allowed for apps to be removed from the Google Play Store. The minister had said, India is very clear, our policy is very clear…our startups will get the protection that they need.

Vaishnaw  continued saying that he has already given Google a call. They will be speaking with the app developers who were delisted this week. This is not acceptable. The minister said this kind of delisting cannot be permitted.

Ten Indian companies’ apps were banned by Google on Friday, causing outrage in one of its fastest-growing markets. With 94% of phones running on its Android platform, Google holds a large portion of the Indian market. Popular names like Naukri and Bharatmatrimony were on the list.

The main point of contention is Google’s in-app purchase fees, which range from 11% to 26%. Indian startups have long opposed the US tech giant’s actions, believing them to be unfair.

The founder of Bharat Matrimony, Christian Matrimony, Muslim Matrimony, and Jodii, Matrimony.com, expressed shock at the matchmaking apps’ removal from the Google Play Store.

Shaadi. Com CEO Anupam Mittal described it as a dark day for India’s internet, highlighting the possible broad effects on matchmaking services. He also called Google an evil.

While, Kuku FM Co-founder Vinod Kumar Meena in a statement had said that Google was behaving like a monopoly.

Meanwhile, Google temporarily withdrew the famous Indian payments app Paytm from the Play Store in 2020, claiming a few policy infractions. Due to this decision, the founder of the company as well as the larger startup community came together to build their own app stores and file lawsuits against Google.

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Anant Ambani says he is 100% lucky to get Radhika Merchant in his life

Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her. He added although he had known Radhika for the last 7 years, it felt he had met her only yesterday. He thanked Radhika for everything.

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Anant Ambani and Radhika Merchant’s grand three-day wedding celebrations began with a glamorous cocktail night on Friday in Jamnagar. During the celebrations, Anant Ambani also gave a speech wherein he thanked his late grandfather Dhirubhai Ambani and grandmother Kokilaben Ambani for inspiring him. Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her.

He expressed his gratitude to his mother for pulling together the lavish three-day wedding celebrations in Jamnagar. Anant thanked his mother for all she had done. He said all the arrangements had been done by his mother and nobody else. He added his mother had gone all out and she had worked 18-19 hours a day and he was extremely grateful to her.

He also thanked all the guests who were present there at the pre-wedding celebrations. He said everyone had made it to Jamnagar to make him and Radhika feel special. He said both of them were honored and humbled to have all of them present there. Anant said he was sorry if they had caused an inconvenience to anyone. He asked for forgiveness. He hoped everyone is going to enjoy the coming three days. He also thanked his mother, father, sister, brother, his sister-law and his brother in-law for making this event memorable.

Anant said everyone has been sleeping for less than 3 hours a day for the last 2-3 months and he was very happy to share this joy with everyone. The youngest Ambani talked about his personal struggles and how his parents had always supported him. He further added his life had not been entirely a bed of roses. He said he had also experienced the pain of thorns. He said he had faced many health crises.

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Facebook chief Mark Zuckerberg shares pictures from 2nd day of Anant Ambani and Radhika Merchant pre-wedding celebrations

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

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Facebook boss Mark Zuckerberg and wife Priscilla Chan joined the star- studded pre-wedding celebrations of Anant Ambani and Radhika Merchant in Jamnagar on Friday. The event was attended by many prominent figures from different fields. Zuckerberg took to his Instagram handle congratulated the couple and said he loved Indian weddings.

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

The theme of the opening day of the pre-wedding celebrations was Evening in Everland as the guests wore cocktail attire. The first day of the grand celebrations elevated the expectations of the guests for the following days. The theme of the 2nd day of the pre-wedding bash is known as a Walk on the Wildside and the guests can be seen in Jungle Fever attire.

Zuckerberg has opted for an animal print shirt with white trousers, Chan is complementing his look in a strappy one piece in black and golden. The Jungle theme is aligned to Vantara, Reliance’s animal welfare initiative undertaken and launched by Anant Ambani a few days back.

International pop star Rihana electrified the pre wedding celebrations on Friday with an amazing performance, marking her debut appearance in India. The chart topping artist engaged the audience with performances of her iconic hits which included Pour it Up, Work and Diamonds.

Zuckerberg graced the opening day, wearing a black-on-black firefly blazer and shoes from Alexander McQueen while his wife Priscilla wore a black gown with gold flower details and other accessories such as dainty chain bracelet, gold necklace and stud earrings. Mark Zuckerberg and wife Priscilla Chan are one of the Power couples invited from the global business community for the festivities currently underway at Jamnagar.

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