India's entertainment industry has several emerging revenue options.
Indian cinema is big. Indian cinema is small. You could make either of those statements. At the ongoing FICCI FRAMES seminar, being held at Mumbai's Grand Hyatt, it's the 'small' story that is under discussion. Indian cinema revenues constitute less than 1 per cent of global movie revenues.
Thankfully, revenue options are multiplying. At a special session moderated by Nasscom president Kiran Karnik, new digital platforms won much attention. With convergence in technologies, digital distribution of content is becoming ever easier, with even mobile phones ready to deliver.
The barriers have to do with the security of content protection and payment mechanisms.
According to Karnik, while technology gets more complex, it is also becoming more user friendly. The timing is just right, too. "The content producing industry is at an inflexion point," said Karnik, predicting that "young talent in thousands will explore new ideas".
New delivery devices also means that content shall no longer be constrained by the cost/amortising-audience economics of yore. Niche content could attain viability as well.
In all, look foward to a flurry of innovations. The broad goal would be to monetise content via assorted formats, be it pay-per-view, video-on-demand, mobile entertainment or any other.
John McClure, country head, Intel, said the future will see technology and entertainment fuse into one. Digital content will get outsourced to India, giving the country an opportunity to shape the world market's evolution.
Yet, there were worries. Actor Kamal Hassan pointed out that India has only one screen for every three in America and one for every five in China. Much of the vast Indian market remains unaddressed by Indian entertainment.
At the upper end, the consumer will get more control over what gets to entertain him/her. Decisions on what to watch, how to watch and when to watch would be a matter of individual choice.
But then, entertainers will also have the means to entertain people with their wares whenever and wherever. It would be a convergence of interests.
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