The Indian Media &

Entertainment Industry
2019
Trends & Analysis - Past, Present & Future

Chaitanya Chinchlikar
Vice President – Whistling Woods International
chaitanya.c@whistlingwoods.net
The Indian M&E Industry - High-volume, low-value.
The Indian Media & Entertainment Industry comprises of
Film, Television, Print, Digital Media, Animation & VFX, Gaming, Radio, Music, Events
& Live Media, Sports, Out-of-home, Theme Parks & other media.

• Valued at ~US$ 24 bn 2500

(1,67,400Cr INR) in 2018 12%
2349
which is ~1.17% of the
2000
12.7%
global M&E industry 1887
13.4%
(estimated at US$ 2.05tn)
INR Billions

1674
1500
1476
• Growth from 2019-21 (12%) is
going to be over 2x of the 1000

global M&E industry (5%)

• M&E growth outpacing India’s 500

GDP growth by over 2x.

0
2017 2018 2019 2021
Source: FICCI E&Y M&E Report 2019
Industry Breakdown
100% 1% 1% 1% 1%
2% 2% 2% 2%
2% 2% 2% 2%
2% 3% 4% 5%
90% 4% 4% 5% 5%
5% 5% 5%
5%
80% 8%
10%
12%
15%
70% 11%
10%
10%
60% 10%
21%
18%
17%
50%
14%

40%

30%

45% 44% 43%

20% 41%

10%

0%
2017 2018 2019 2021

TV Print Film Digital Animation & VFX Live Events Online Gaming OOH Radio Music
Source: FICCI E&Y M&E Report 2019
Where is the growth coming from?

Source: FICCI E&Y M&E Report 2019

Customer Segmentation

• Digital only – consume content only on digital platforms, do not access television
• Tactical digital – Consume Pay TV and at least one paid OTT service
• Bundled digital – Consume Pay TV and generally only telco-bundled content
• Mass consumers – Consume Pay TV and occasionally may consume some OTT content
• Free consumers – Do not pay for content Source: FICCI E&Y M&E Report 2019
Contribution of M&E in India’s economy (2017)

Source: FICCI E&Y M&E Report 2019

THE INDIAN FILM INDUSTRY

Source: FICCI E&Y M&E Report 2019

 The Indian Film Industry
250 236
10.6% 100% 0% 0% 0% 0%
4% 4% 5% 5%
10.9% 5% 8% 9%
90% 10%
194
200 12.2% 12%
175 80% 12% 12% 11%
156
70% 16%
17%
INRBillions

150 18% 19%

60%

100 50%

40%

50 30% 62% 59% 57% 55%

20%
0
10%
2017 2018 2019 2021
0%
2017 2018 2019 2021

Domestic Theatrical Overseas Theatrical Cable & Satellite Rights

Digital / OTT In-Cinema Advertising Home Video

• Largest in the world by films produced (~1,800)

& tickets sold (~4bn), with US$ 2.5bn in value.
• Growth was driven by Digital/OTT rights which
grew 59% & overseas theatricals which grew
20% from 2017 Source: FICCI E&Y M&E Report 2019
The Indian Film Industry = ‘Bollywood’
While‘Bollywood’ is often a commonly used term to
Language 2018
define the Indian Film industry, Hindi films (which the
Kannada 243
word refers to), actually accounted for only 13% of the Hindi 238
1,777 films in 2017. Tamil 231
Kannada was the language in which most films Telugu 195
Malayalam 160
released in 2018.
Marathi 124
English 107
Bengali 107
Bhojpuri 89
Guajrati 71
Punjabi 53
Odiya 36
Others (Incl dubbed) 124
1,777

Source: FICCI E&Y M&E Report 2019

Regional is soaring!

Kannada, Malayalam, Punjabi, Bengali & Odiya

have all registered extremely high growth!

Source: FICCI E&Y M&E Report 2019

 Revenues & Films – Domestic
• Hindi films have got back on track over 40
Top 50 Hindi Films
35
the past 2-3 yrs, after a 5-year period of 30
plateauing toplines and diminishing 25

INR Billions
profitability. 20
34
• For first time in the last decade, the 15
24 26 27 26 27
30

10
major ‘Bollywood stars’ did not find a
5
place in the top 3 positions of box-office 0
2012 2013 2014 2015 2016 2017 2018
collections.
Box Office Collection
• Contribution of ‘big star’ films to the top
25 movies’ box office collections dropped
from 50% in 2015 to to 23% in 2018. 100Cr+ Hindi Films
14
12 13
10
8 9
6 8 8
7
4 6 6

2
0
2012 2013 2014 2015 2016 2017 2018

Source: FICCI E&Y M&E Report 2019

 Tourism Impact – 3 Idiots & Leh

Value Added by film-

induced tourism
- 4x revenue of the film
- 500x employment
generation

Source: FICCI E&Y M&E Report 2019

Revenues & Films – Domestic & Overseas

Source: FICCI E&Y M&E Report 2019

 Exhibition
Ratio: Screens per million (population)
12,000 140
India Screens 125
9,481 9,530 9,601 120
10,000
100
8,000 80
60
6,651 60
6,000 9,710 9,121 7,400 7,031 6,780 40
8,451
40
16
4,000 20 10 8
0
2,000
2,450 2,750 2,950 US UK South China Brazil India
1,500 2,100
925 1,225 Korea
-
2009 2011 2013 2015 2016 2017 2018

Multiplex SingleScreen 60,000 55,623

Screens 50,776
50,000
After 5+yrs of 40,02441,179
40,604 40,246 40,837
39,233
decline, 2018 was 40,000

the 2nd consecutive 30,000

year of screen 20,000

18,195

growth, albeit 10,635 9,951 9,530 9,601

10,000 4,723
marginal, & 9,481
-
nowhere close to 2009 2013 2016 2017 2018
what is required. China India US

Source: FICCI E&Y M&E Report 2019

Film – Revenue Split
When you pay Rs 100 for a movie ticket, what is the split?
• Gross – Rs 100 (100%)
• GST – Rs 16 (18%)
• Net – Rs 84
• Exhibitor – Rs 42 (50% of balance)
• Distributor – Rs 42 (50% of balance)
• Producer(s) / Co-producer(s) – depends on the deal with distributor –
Outright / MG / Commission / Distribution Fee – and with each other.
• P&A funding – deal specific, but usually is Last-In-First-Out.
• Talent – actors / director – may or may not have sweat equity.

Source: FICCI E&Y M&E Report 2019

 The steady growth of Marathi
- The number of Marathi films had slipped into single digits in late 90s / early 2000s.
- Today, there are ~120 Marathi films annually.
- Discerning plots and
Marathi Films Box office Collection
progressive subjects are 1200
balanced with rom-com &
1100
1000
humour
800
- Sairat became the 1st
INR Millions

Marathi film to cross 100Cr 600

at the Box Office. 400

500
400 400 400
- ROI for Marathi films is 320 330
200
excellent, probably one of
0
the best among all of the
film industries

Source: FICCI E&Y M&E Report 2019

 Hollywood in India – Good growth
- 98 Hollywood films released in India Box Office Collection - Top 10 Hollywood
Films
in 2018.
8

- In 2008, Hollywood films had a 3-4% 7 7.5

6
market share of the Indian Film BO.

INR Billions
5
In 2018, it was 10%. 4 4.8

3 3.4
- Dubbed versions of Hollywood films 2
have enabled viewership & revenue 1 1.6
0
growth. 2015 2016 2017 2018

- With growing internet access and

general awareness of global cultures, At INR 2.3 bn, Avengers: Infinity War is the
the cultural alienation between highest grossing Hollywood Film in India &
Hollywood & Indian cinema is accounted for 25% of the Hollywood NBOC
reducing. of 2018 in India & surpassed Jungle Book,
which had grossed INR 1.88 bn

Source: FICCI E&Y M&E Report 2019

The Indian Film Industry - Key points
• Urgent and significant scale needed in Film education.

• Screens need to double in 5 yrs; Government intervention underway.

• Globally-merchandisable, home-grown IP(s) development underway.

• Regional shows its importance – Kannada, Malayalam, Punjabi,

Bengali & Odiya.

• Hollywood films box office growing (on the back of dubbed films),
though not as much as domestic content.

• Funding avenues, beyond the studios grow with Film Funds, Crowd-
funding all becoming serious options.

Source: FICCI E&Y M&E Report 2019

THE INDIAN TELEVISION
INDUSTRY

Source: FICCI E&Y M&E Report 2019

 The Indian Television Industry
1200
• The most consistently TV
8.8%
performing sector of the 1000 954
10.1%

Indian M&E Industry. 800

12.1%
740
815

660

INRBillions
• It is, presently, over 4 times
600

the size of the Indian Film

400
industry and is the largest
employer in the M&E space. 200

• The TV pipeline has almost 0

2017 2018 2019 2021
1500 MSOs, 60000+LCOs,
6 DTH operators, 2 IPTV Value headroom - Average subscription
rate for Cable TV / DTH:
Operators and over 850
• India – 3-4$ per TV per month
channels.
• US / UK / Europe – 60-100$ per TV per
month
Source: FICCI E&Y M&E Report 2019
Revenues & Subscribers
2
200 1 36
31
150 56
52

100

99 103
50

0
2017 2018
Subscribers Cable DTH

600 552
TV Revenues
482
500
435
393 403
400
333
INR Bilions

305
300 267

200

100

0
2017 2018 2019 2021

Subscription Revenue Advertising Revenue

Source: FICCI E&Y M&E Report 2019
 TV Channels, Viewership
1000
900 Channels & Growth Viewership Others
Kids Sports 1%
800 885 Music 6% 3%
GEC
700 800 6%
600 Movie
News
500 550 News 7%
400 GEC
Music 54%
300 Movie
200 263 Kids 23%
100 5 55 130 Sports
0
1990 1995 2000 2005 2010 2015 2018 Others

No of Channels

• India has added, 42 new • With 77% viewership for GEC / Movies,
channels annually (avg) for the people still prefer fiction / escapism on TV.
last 18 yrs. • Those that don’t, are not watching TV
• India has 380+ news channels anymore and have switched to OTT
(43% of all channels) • News viewership is only 7% despite 43% of
TV channels being news channels.

Source: FICCI E&Y M&E Report 2019

Viewership

Source: FICCI E&Y M&E Report 2019

 TVs, TV Time
• High-end television
sets (LED/LCD)
grew from 14% of
all television sets in
2017 to 21% in
2018.

• Smart TV sets have

crossed 10 million,
though as few as
10% of them could
be connected.

Source: FICCI E&Y M&E Report 2019

 GEC – GRP v/s Profitability
Why do we see what we see on GECs?
How does programming get divided between building a viewer base and profitability,
thorough the application of the concept of ‘stick-ability’!

Long running soaps

High
Profitability Low-cost game /
performance based
reality shows

Mythological series

Low Recently released movies Finite

Profitability Fiction Series

Celebrity-based shows

Low Viewership High Viewership

Source: FICCI E&Y M&E Report 2019

 Indian Animation on Indian TV
• Broadcasters are willing to pay over
double for good quality Indian
Animated content as compared to
daily soaps / Hindi general
entertainment content, even though
this segment gets only 6% of the
viewership, as compared to 54% for
Hindi GECs.
• Also the fact that this segment
continues to be under-indexed
doesn’t bother broadcasters as this
content has long-tail revenue
• It offers repeat viewing value, multi-
language dubbing value and
merchandising value.

Source: FICCI E&Y M&E Report 2019

GEC Finite Fiction– a still-born attempt
• GECs, after decades, finally
embraced the tele-series format
with season-based programming
• For the past 20-odd years, the
content has largely mirrored
American programming of the 70s-
80s, with our soaps comparable to
content like the Bold & The
Beautiful, Santa Barbara, etc.
• This experiment was still-born.
Viewership/ad-revenue increase
was not commensurate to
increased production values

Source: FICCI E&Y M&E Report 2019

TV – Key Points
• Digitisation – increased revenue for the broadcaster, should lead to
more investment in content (& hence better quality content)

• Global proliferation of Indian-origin content is increasing, albeit for the

Indian diaspora only. This is THE BIG opportunity.

• Regional Content – with quality coming in, it is asserting its viewership.

• Indian animation on TV is starting to matter.

• Indian TV needs a BIG shake-up. Has been stagnating for a while now.

Source: FICCI E&Y M&E Report 2019

THE INDIAN DIGITAL / OTT
INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Digital/OTT – Growth galore!
400
Digital 354
• The Digital industry is expected to more 350
28%
300
than double from 2018-21.
250 32%
223

INRBillions
• India is already the 2nd largest internet
200 42%
169
using country in the world. 150 119

• India reached 340mn smartphones, 39% 100

50
of all phones
0
2017 2018 2019 2021

Data Cost vs Consumption 350.0

Digital Revenue 300.9
300.0
Data Cost declined from Rs 16/GB to Rs
250.0
3.5/GB from 2016 to 2018 200.0
200.4
INR Billions

154.4
Per capita data consumption doubled from 150.0 114.9
100.0
4GBpm in 2017 to 8GBpm in 2018 52.9
50.0 14.2 22.9
3.9
-
2017 2018 2019 2021

Advertising Subscription
Source: FICCI E&Y M&E Report 2019
Telecom Base – Data is the new Oil!
1400 Subscribers Dec-2018
Mobile Subscribers
1200
Vodafone Idea 4,18,745,035
1000
499 526 Bharti Airtel 3,40,259,315
Users (millions)

800
Jio 2,80,117,768
600
BSNL 1,14,372,457
400
668 646 Tata 19,005,539
200
MTNL 3,474,898
0
2017 2018 Reliance 22,138
Urban Rural Total 1,175,997,150

Telecom Service Broadband

Tele-Density: 89.78 Provider market-share
Urban: 155.48, Rural: 59.15
Jio 54%
Vodafone Idea 21%
Airtel 19%
BSNL 4%
Others 2%
Source: FICCI E&Y M&E Report 2019
 Internet Users – Data breakdown
600

Key Datapoints: 500

400
• Rural users grew 49%

Users (millions)
300 512
363
• Broadband users grew 41%
200

• Wireless internet users grew 43%. 100

83 58
0
2017 2018
600
Narrowband Broadband

500
197 600
400
Users (millions)

132 500
300
400
Users (millions)

200 373
314 300
494
100
200 345
0
100
2017 2018
0 18 18
Urban Rural
2017 2018

Wired Wireless
Source: FICCI E&Y M&E Report 2019
 Platforms, Video Consumption

% of internet users using the

above platforms atleast once
per month.

Per-capita
weekly hours of
video watching Source: FICCI E&Y M&E Report 2019
Mobile Applications

Source: FICCI E&Y M&E Report 2019

Digital Platforms – Global

Source: FICCI E&Y M&E Report 2019

 1,200 hours of new original
Indian Digital Platforms content was created for OTT
platforms in 2018

& many more…

Source: FICCI E&Y M&E Report 2019
 Subscriptions, etc…
• Digital subscription grew 262% to reach
INR14 bn. That said, the % of paying
subscribers to total consumers is less than
5% for video & less than 1% for audio.
• Paid video subscribers grew from 7mn in
2017 to around 15mn in 2018.
• Over 200mn people accessed digital content
through telco data bundles.
• Star India announced a stop in cable
distribution in the USA, only on Hotstar now.
Zee announced similar moves in some
European markets & Australia. Provides
almost the same reach with more revenue.

Source: FICCI E&Y M&E Report 2019

 Opportunities in Digital
• Digital is no more a ‘also’ platform. It is the present & the future.

• Content consumption modes & patterns are changing with a large number of sub-
18-yr-olds finding their ‘stars’ online.

• Industry should look at digital beyond JUST a 3rd screen with limited censorship.

• Multi-formatting of ‘filmy’ content to include Digital platforms (25% extra effort)

• Digital is a writers’ medium – New IP Creation opportunities galore.

• Digital is all about Analytics – Audience analytics, Content-based analytics,

Predictive analytics, Campaign analytics, etc

In any industry, building volume is hard. India already has the volume and is
likely to be the largest digital market (free) by 2021-22. We now need to build
value to each unit of volume. Only way to do it is quality.

Source: FICCI E&Y M&E Report 2019

IMMERSIVE CONTENT

Source: FICCI E&Y M&E Report 2019

Content vs Experiences
Technology-enabled experiences in content consumption are
what the consumer is seeking out.
While the ‘idea’ is important, what is equally important is the
consumption experience.

Source: FICCI E&Y M&E Report 2019

Platforms
There are 4 viewing platforms & approx 5 types of content presently.
On a Viewership / Value matrix, this is where are they now & where are
they likely to be 5 yrs from now.

Theatrical

High 360 VR
Content
Value
Premium DVOD
(Netflix, Hulu,
Amazon Prime,
etc)

Free(mium) Digital Platforms C&S / DTH

(Youtube / ALT / Hotstar, Voot,
Low Viu, etc
Value
Note:
This is India-specific

Low Volume High Volume

Source: FICCI E&Y M&E Report 2019
 Platforms & Content
Film / Theatrical TV Digital VR/AR

Fixed frame, large Fixed frame, small Fixed frame, mini No fixed frame
Platform
screen, 2D & 3D, screen, 2D, Non- screen, 2D, (FRAMELESS), 2D &
Viewing
Captive Community captive Family Non-captive 3D, Captive Individual
Details
viewing viewing Individual viewing viewing

??? (60secs - 60mins)

110-180 mins 22–44 mins 3–60 mins
Duration & (15 mins – health
60-100 scenes 8-10 scenes 2-20 scenes
Structure advisory for mobile-
1-8 shots / scene 1-20 shots / scene 1-4 shots / scene
based VR)
Fiction Primarily serial, Equal amount of ???
Primarily stand-alone,
Content marginally stand- stand-alone & serial (expected to be similar
marginally serial
Structure alone content to Digital)

Individuality, ???
Larger Than Life, Appointment Viewing,
High concept, (Immersive &
USP Audio-visual narrative Story & Character
writing-focused, interactive is all we
spectacle development
pace is critical know currently)

Source: FICCI E&Y M&E Report 2019

VR’s expected journey from 2018-2021
• Business models / consumer segments to emerge
• Widespread fiction narrative content – in all of the business models.
• The first generation of Cinematic VR content creators to emerge
• Increased Festival inclusion, dedicated VR film festivals.
• Tech pipeline to get better:
o High quality, film-grade sensors, cinematic lenses, 6 DoF, Volumetric Capture, Point
Cloud & Photogrammetry, better heat & data management
o Stabilisation of VR workflow using the OMAF / HEVC / MPEG-H codecs
o Adequate computing & graphic computing power
o HMDs to get better - Wireless / Nearly-Weightless HMDs.
• Complete Sensory Experience with Brain-Computer interface / haptic suits
• Alternate world habitation (Staramba)

Source: FICCI E&Y M&E Report 2019

VR Business Models (hypothesis)

Location-Based VR
experiences

High Home-based Seated /

Value Multi-sensory narrative
experiences

Tethered
HMDs

Wireless
Low connected
HMDs
Value

Mobile + Headset

Low Volume High Volume

Source: FICCI E&Y M&E Report 2019

THE INDIAN ANIMATION, VFX,
POST-PRODUCTION INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Animation, VFX & Post-Production
140
128
• The industry has shown growth / will 120
17.4%

continue to grow on the back of strong 177%

93
100
VFX / post-prodn growth, but Animation 17.9% 79

INRBillions
80
67
has not grown as much.
60

• Lack of original IP is the major reason 40

of low growth in Animation. 20

• Cost arbitrage is the key driver for 0

2017 2018 2019 2021
animation services. Cost of producing a
100%
full-length animated film in the US is 90%
80%
31.3
US$ 40-150 mn, in India is US$ 10-40 70%
39.6 49.5 75.5
INR Billions

60%
mn, a saving of approximately 75%. 50%
40% 18.3 20.5
• More content = more post-prodn 30%
22.7
27.8
20%
revenues for India. 10% 17.0 18.8 20.7 24.4
0%
2017 2018 2019 2021
Animation Services Post-Prodn VFX
Source: FICCI E&Y M&E Report 2019
Animation

Source: FICCI E&Y M&E Report 2019

VFX & Post-Production
Increased high-end domestic
content (Film / TV / Digital) has
caused increased demand for
VFX / post-production services

Good News -
India has gone from
NIL to ‘Emerging’ in
the Conceptualisaton
stage of global VFX
films
Source: FICCI E&Y M&E Report 2019
THE INDIAN ONLINE GAMING
INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Gaming 140
Online Gaming 120
120
• Online gamers in India grew 52% to 35.4%
100
278 million in 2018

INRBillions
80
• 5 billion game apps were 38.8% 68

downloaded in 2018, which 60

63.3% 49

accounted for 71% of total 40 30

entertainment app downloads 20

• It has over 250 game development 0

2017 2018 2019 2021
companies
• Casual gaming grew 40% to reach
Grand Theft Auto
INR 22 billion 5 is the single
• Real money gaming grew 82% to most profitable
reach INR 26 billion piece of media of
ALL TIME
• Tencent organised India’s first PUBG
Produced at a cost
Championship with total prize pool of of US$265mn, it
50L and top prize of 15L has revenues of
over US$7bn as of
2018.
Source: FICCI E&Y M&E Report 2019
THE INDIAN LIVE EVENTS
INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Live Events 120 112
Live Events 14%

100
• Still largely unorganised. 14.7% 86
15.4% 75
80
• Licensing & Taxation issues

INRBillions
65

• Ticket sales account for less than 10% of 60

industry revenues. 40

• Corporates account for 75% of the 20

organised industry’s revenues

0
2017 2018 2019 2021
• India has seen a steady increase in
marquee properties starting from Mughal-
e-Azam to Beauty & The Beast & Alladin
and most-recently – Cirque du Soleil.
• Weddings continue to be high value
generators for the industry.

Source: FICCI E&Y M&E Report 2019

THE INDIAN RADIO INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Radio 45

40
8%
39
9.7%
6.9% 34
35
31
29
• Growth has been primarily volume driven 30

INRBillions
25
– more stations in more towns / cities.
20

• In addition to the 386 private FM stations 15

10
in 35 cities, AIR has 420 stations,
5
programming in 23 languages with the 0
2017 2018 2019 2021
ability to reach 99% of Indian population.
• India lacks a quality listenership
measurement system.

Source: FICCI E&Y M&E Report 2019

THE INDIAN MUSIC INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Music
• India reached 5bn music streams pm in
Dec 2018.
• Over 96% of music consumers 25
Music
consumed music on smartphones 20 10.8% 19
14.3%
• Film music contributed over 80% of total 7.7%
16

INRBillions
15 14
13
revenues
• Top 3 source of music discovery were 10

YouTube, Facebook, Instagram and not

5
dedicated music apps.
0
• Over 75% of Indian web users access 2017 2018 2019 2021

unlicensed content.
• India does not have high-quality,
structured career education in Music
composition.

Source: FICCI E&Y M&E Report 2019

THE INDIAN SPORTS
INDUSTRY

Source: FICCI E&Y M&E Report 2019

 Sports
• Sports is one of the largest content providers
to the broadcast, live events & OTT platforms.
• Too many leagues caused Hockey, Boxing,
Basketball & Futsal to shut operations in 2018.
• Viewers starting to explore OTT platforms as
primary sports viewing platforms.
• Significant government intervention, focused
on athlete support and making sports an
industry by 2022.

Source: FICCI E&Y M&E Report 2019

 Sports
• Sports viewership has widened across sports.
• Cricket & Kabaddi showing viewership fatigue.
• The sports-watcher stereotype has been broken
with 35%+ female & 40%+ rural viewership for
IPL+ISL+PKL.

Source: FICCI E&Y M&E Report 2019

 Education
• Almost 75%+ people involved in the creative process of Filmmaking are not
formally trained / educated in film
• Despite having 17% of the world’s population and 9% of the economy, the Indian
M&E industry is only 1% of the world’s M&E industry
• We do not make films that appeal to the rest of the world and hence end up
leaving out a massive market for our content.
• We have no globally
merchandisable IP India USA

• Affects all areas of M&E Population 1.25bilion 300million

Film, TV, Journalism, Events, etc. No of Films being made 1800+ 400+

• We need a 3x increase in No of world-class film

4-5 150-160
schools
Film & Media graduates.
No of graduates from
300-500 15,000+
these schools each year
Source: FICCI E&Y M&E Report 2019
Jobs in M&E
• Direct employment is ~8L. Indirect is ~28L
• TV is the largest employer (~4L), followed by Film (~2.5L).
• As per the NSDC, by 2025, the Media & Entertainment industry would be
requiring 18 lakh professionals, ~75% of these in the Film, TV & digital
verticals.
• The media industry as a whole still lacks sufficient world-class training
facilities to enable professionalism and best practices.
• Significant government-intervention and private investments will be
needed to correct this imbalance.

Source: FICCI E&Y M&E Report 2019

The Great Opportunities in M&E
In the M&E industry, building volume is hard. India already has the volume.
We now need to build value to each unit of the already existing volume.
This can only be done by enhancing quality.

The big opportunities in Indian M&E are:

• Education in M&E
• Globally Merchandisable IP
• Content that travels well globally (to non-diaspora viewers)
• IP creation - interoperable IPs across Film, TV, Digital, Gaming
• Screens for Film
• E-Sports & Online Gaming

Source: FICCI E&Y M&E Report 2019

 Thank You!
Chaitanya Chinchlikar
chaitanya.c@whistlingwoods.net
Vice President & Business Head, Whistling Woods International
Chief Technology Officer, Whistling Woods International
Lab Head, Whistling Woods Jio VR Lab