GOVERNMENT TO CONSIDER FICCI-KPMG
REPORT ON FILM INDUSTRY
The Government will
consider the suggestions made in the FICCI-KPMG report titled
"The Indian entertainment sector – in the spotlight"
while formulating policies. Replying a question by Dr. M. V. V.
S. Murthi and others in Lok Sabha today, the Minister of Information
& Broadcasting, Shri Ravi Shankar Prasad said that many of
the suggestions are focussed on the industry for action.
The Minister
said the report suggests that film industry needs to transcend
from being a simple unorganized, creative pursuit to an organized
business that encourages and nurtures creativity and makes commercial
sense. The strengthening of the cable and satellite dominance
and increasing focus on subscription revenues together with the
Conditional Access System (CAS) hold promise for the future growth
for the Indian television industry.
To sustain a
healthy growth, the report recommends that the music industry
in India, which is still at a nascent stage, needs to revamp the
way it operates, with support from the key players and also evolve
new revenue streams to hedge risks. The corporatisation in the
film industry is expected to have a catalytic effect on the music
industry, which would move increasingly towards a revenue sharing
model.
