'India Shining' seems to be the buzzword not only among Indians but also with people overseas. Andy Bird, President of Walt Disney International, began his keynote address on Day Two of FRAMES 2004 by stating that India is definitely here to stay and that the country's current growth is multi-faceted and robust.
"India is no exception. The opportunities for growth in the Indian entertainment industry are compelling," he said.
Citing a variety of factors that have catalysed the growth of Indian entertainment industry, Bird said there are enough reasons for India to be the cornerstone of Disney's global strategy.
Disney already commands wide presence in the country. The company's TV group in India provides 29 hours per week of programming to popular national and regional channels, including terrestrial networks. Their consumer product division is also doing well.
"The bottomline is that the Indian economy is growing and along with that our business in India is growing," he said.
Bird sees huge opportunities in India in the domain of animation. The Indian animation industry is currently estimated to be US $1 billion and is expected to grow at the rate of 30 per cent per year in the near future. "Other than focusing on films and TV animation, the industry could also tap other user segments like gaming, advertising, music videos, mobile and documentaries," he said.
The Walt Disney Internet group is already accessing the rich talent pool in India to grow their mobile gaming business. These games are distributed across 22 countries in the world.
Bird who is responsible for targeting new businesses and looks for newer opportunities in emerging markets has taken this opportunity to be in India along with his senior colleagues during this global convention to study the Indian market and gauge the necessary opportunities in the various segments of entertainment.