The entertainment industry proposed the formation of an apex body to outline the industry’s future course of action and impress the policy makers to make necessary changes required to maintain competition.
The idea was conceptualised at a technical session of “New paradigms for the content and entertainment players” in the ICE Summit organised by the Confederation of Indian Industry (CII) in Kolkata.
The session was attended by representatives of various entertainment companies, including Saregama Limited, UTV Net Solutions, Zee Telefilms and Sahara TV Network.
According to the industry sources there was a need for such a body which will help and guide the industry in formulating macro policies as well as lobby for the required changes with the government.
Biren Ghosh, CEO of UTV Net Solutions later laid down a few propositions, including the formulation of a national entertainment strategy for the growth of the industry.
A study has projected that over the next five years, television revenues would grow by 31 per cent to Rs 32,365 crore, music revenue by 55 per cent to Rs 4,479 crore, films by 21 per cent to Rs 10,210 crore and radio by 55 per cent to Rs 1,020 crore.