Celebrating the Indian Media and Entertainment Landscape
A culturally rich country, India is a global destination for media and entertainment. The Indian Media and Entertainment sector has been at the forefront of innovation and dynamic technological advances. The increased access to fast and cheap digital connectivity across India and the revolution brought in by Over the Television (OTT) platforms have changed the landscape of the entire industry. There has been a paradigm shift in both the content and the behaviour of audience consuming the content. India was the third-biggest market globally in terms of cinema segment penetration in 2021, which is set to grow at a staggering rate of 38.3 percent CAGR in the forecast period to reach INR 16,198 crore by 2026, registering the highest growth rate amongst all the segments.
This phenomenal growth in the industry is driven by young and ambitious entrepreneurs of the country. These entrepreneurs are not just playing the role of technology disruptors in the industry but also creating new segments for content creation. Use of drone technology in film making, advances in VFX, introduction of Augmented reality, Algorithmic Video editing are emerging technologies that have transformed the film making process. India currently has more than 1300+ DPIIT-recognized media and entertainment startups, striving to further the cause of the ecosystem and drive the industry forward.
The International Film Festival of India (IFFI) is a pre-eminent film festival held annually in Goa to celebrate the media and entertainment industry in India. The 53rd edition of IFFI was held between 20th-28th November 2022. As part of the marketplace initiative under IFFI, a Film Bazaar was also organized from 20th-24th November 2022. The Film Bazaar presented a unique opportunity for DPIIT to showcase the work of the startups in the Media and Entertainment Industry. The weeklong celebration brought together a vast group of stakeholders, ranging from filmmakers and distributors to international audiences. The Film Bazaar offered host of market access opportunities to selected startups and gave them a platform to showcase their products. The startups received the opportunity to interact with senior officials, including Hon’ble Shri Apurva Chandra, Secretary, Information and Broadcasting and Shri Ravinder Bhakar, MD, NFDC. They also participated in a curated pitching and discussion session—the 'Student Producer Workshop' and the 'Producer Workshop.' During the workshops, startups were presented with the opportunity to pitch their product to producers and investors.
The following DPIIT recognized startups were showcased during the Film Bazaar:
|Awaaz.com||Aawaz.com hosts multilingual stories and podcasts. It has worked in over 20+genres with 450+ original shows and 1300 hrs+ content|
|OM TV||An authentic spiritual storytelling startup which offers wholesome family entertainment with Indian values|
|Pratilipi||Pratilipi is one of the India’s largest story telling platform. It’s literature platform crossed over 10 billion reads recently.|
|Quepinch||Quepinch is a content publishing platform where creators can create and monetize content|
|Pluc.TV||Pluc.tv is a B2B2C platform for the creator economy where anyone can learn, produce, market and monetise stories early and brands can access new creators and stories including original and branded stories|
The Indian Media and Entertainment Sector has shown an encouraging recovery post COVID-19 and this recovery has been led by new age startups of India. As the way forward, industry players must invest in innovative content technology to improve the user experience and create new avenues for monetizing their products. Moreover, value propositions for both consumers and investors must be enhanced.