FICCI Frames 2012: Wrap up of Day 1

The first day of the three-day long FICCI Frames 2012, started off with releasing the FICCI-KPMG report on the Media and Entertainment industry.

The sessions and keynote speeches on Day 1 were largely dedicated on the debate of how digitisation will impact Indian entertainment market.

Uday Shankar, chief executive officer, Star India, said, "Digitisation is a big reality. It is difficult to undo such a shift. And there will be chaos with this shift. But when the transition is at such a scale as this, there will be incentive to put up with the chaos as well."

Shankar mentioned how he was concerned about the industry not having done enough post the advent of DTH in India. He said, "DTH has now been around for six years, but did we do something strategically new to exploit the new technology?"

He added that there are enough global examples to suggest that digitisation will lead to decentralisation. The access to distribution is therefore, set to change. With that the distribution mindset would require a change as well. Shankar asserted, "People don't take cable so you can get carriage fees, they love it when it is customised to their taste."

Present at the event was Prithviraj Chavan, chief minister, Maharashtra. He stressed on the possibilities of growth in regional advertising and added that the regional markets need to be comprehended in a better way.

In a panel discussion on monetising on digitisation, Sameer Manchanda, chairman, managing director, DEN Networks, said, "Digitisation is set to be the biggest game changer. One has to watch how it unfolds in the next three months. therefore, to reap maximum profits from consolidation, broadcasters need to think about consolidation now than later."

Sanjay Gupta, chief operating officer, Star India, added, "As broadcasters we have really done the lowest common denominator's job in an industry that is run by ad revenues. A clear focus on content creation and differentiation in the wake of digitisation would help us unlock the value of this movement."

Punit Goenka, managing director, chief executive officer, Zee Entertainment Enterprise, commented, "Post digitisation, niche content will find a lot of ground and it could easily be capitalised on in a country which is over supplied by ad inventory."

Sunil Lulla, chief executive officer, managing director, Times Global Broadcasting, concluded and said, "Let us not thwart the revolution but look at the opportunities it will bring along. It is a great proposition to go out and make business."