EVENTS AND ENTERTAINMENT INDUSTRY

The media and entertainment industry consists of film, print, radio, and television.
These segments include movies, TV shows, radio shows, news, music, newspapers,
magazines, and books.
The Media and Entertainment (M&E) industry has multiple segments that combine
into one vertical; Movies/Cinema, Television, Music, Publishing, Radio, Internet,
Advertising and Gaming. Moreover, trends and drivers for each of the segments vary
across sub-segments, geographies and consumer segments. This makes the vertical
unique, since these sub-verticals compete, compliment and combine to fulfil the ever-
increasing demand for entertainment and information globally.
The industry also depends on multiple external factors/technology developments like
wireless, mobile, devices, digitization, internet access speeds, cloud storage,
consumer analytics and social media among others. The industry has successfully
adapted around these developments in every generation. Since 1990s, digitization of
content has changed creation and delivery of music. Another disruption in 2000s, the
rise of the internet was a game changer for all the sub-verticals of the industry.
Presently, social media has been instrumental in shaping the present media &
entertainment industry.
Traditionally the M&E industry has been a creative industry following technology
innovations and consumer demands. By its inherent nature, the industry is extremely
dependent on markets, cultures, languages and consumer segments. We have,
however, witnessed content that have bridged not only the language barrier, but also
worked across segments internationally. M&E is also unique due to its psychological,
emotional and aspirational appeal to its customers. Quality and acceptance hence
become extremely subjective to each individual. Traditionally, content creators were
the deciders on what to supply – the critical change in the new era is that demand is
completely consumer driven. The new age consumer not only demands what they
like, but also in the format they like, additionally, they also want to customize the
content to their preferences.
Media and entertainment companies create products and provide services for
different purposes. They may aim to educate and raise awareness or entertain and
give temporary escape from the stresses of daily life. From newspapers, television
and radio news shows, educational books, documentaries, and reality shows, to
cartoons, animated films, sitcoms, fiction films and books, workers in media and
entertainment bring various skills and backgrounds to their jobs.
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CLASSIFICATIONS

Radio and television broadcasters, film production companies, and publishing

companies comprise the media and entertainment industry. The radio broadcasting
sector consists of about 3,348 companies in the United States with combined revenue
of more than $17 billion. These companies, such as CBS Radio, iHeartMedia (formerly
Clear Channel Communications), Cumulus Media, and Sirius XM Radio, operate radio
broadcast studios that transmit news and talk shows, music, and other
entertainment. Sirius XM provides satellite as well as online radio services, including
stations such as CNBC, BBC World Service, Bloomberg Radio, as well as regional news
channels. Radio broadcast networks, syndicates, and stations transmit audio
programming via FM and AM radio channels, as well as through digital, satellite, and
Internet radio channels. There are commercial broadcasters that are funded by
advertisers, and public radio stations, which are funded by public and private funds,
subscriptions, and corporate underwriting and are usually run by universities and
public groups for educational purposes. For instance, the New York City-based station
WFUV is run by Fordham University.
Key professions in radio broadcasting include administrative jobs such as general
managers, vice presidents, office managers, and accountants; operations and
programming directors; news directors, producers, reporters, announcers; board
operators and engineers; sales, promotion, marketing, and research managers; as
well as Web-related jobs for the radio station’s Web site, such as Web designers,
webmasters, and community managers.

RADIO INDUSTRY
The radio and television broadcasting industry is composed of two different types of
companies. There are public service broadcasters, where the funding is through public
money, and commercial broadcasters, which are funded through advertisement
spots. Radio and television broadcasters create and/or acquire content for
broadcasting, such as entertainment, news, talk, and other programs. Many television
broadcasters use digital broadcasting to transmit pictures that have higher resolution,
known as high-definition television (HDTV). They can transmit a single HDTV
broadcast or transmit several conventional broadcasts. This “multicasting” means
they can transmit a music concert, for example, from several different camera angles
on the same channel. Viewers then select the view they’d like to see on their
television set. Other types of broadcasters include cable and subscription or fee-
based programs that have a more narrow focus, such as sports, education, and youth-
oriented programming.

PRINT INDUSTRY
The print industry consists of publishing companies that produce newspapers,
magazines, books, journals, and periodicals, their online versions, and directories,
mailing lists, software publishing, and video games. As the North American Industry
Classification Systems described it, “Publishers may publish works originally created
by others for which they have obtained the rights and/or works that they have
created in-house.” Published works can be in one or more formats, such as traditional
print, eBooks, CD-ROM, or proprietary electronic networks. The world’s five largest
publishers, known as the “Big Five,” are Hachette Book Group, HarperCollins,
Macmillan, Penguin Random House, and Simon & Schuster.

FILM INDUSTRY
The film industry is mainly composed of large, multinational corporations, major
studios, and independent studios. Many of the top-name film companies are part of
larger media conglomerates that also include television, cable, newspaper, and
magazine organizations. Within the film industry are subsectors: film production, film
exhibition, and film post-production. The top movie companies include 21st Century
Fox, Comcast Corporation, The Walt Disney Company, and Viacom Inc.
GENERAL
In general, media and entertainment jobs include reporters, correspondents, and
broadcast news analysts; writers and authors; editors; photographers; graphic
designers; translators; film and video editors and camera operators; broadcast and
sound engineering technicians; announcers; producers and directors; and performers
—from actors to musicians and composers. The workers who are behind the scenes
and focused on the business side are public relations people, talent agents and
representatives, marketing managers, entertainment lawyers, and distribution
workers, among others.

CURRENT TRENDS IN THE INDUSTRY

The digitization of content is an ongoing trend and issue for publishers. The old saying
“adapt or die” applies directly here. The publishing companies that faced the
challenge and are still alive created online content and adapted their products for
laptops, tablets, and smartphones. They’ve strategized ways to keep revenue flowing,
such as through digital subscriptions. Many others, however, didn’t succeed in
adapting and are now gone. The research group MediaFinder reported that 82
magazines folded in 2012, which isn’t too terrible considering that 152 magazines
closed their doors the previous year. The recession took a toll on the publishing
industry and the number of magazines that went under during that time frame is
sobering, with more than 1,500 magazines going out of print between 2007 and 2009.
The very last issue of the print edition of Newsweek was published on December 31,
2012, ending an 80-year print run. It had been incorporated into the Daily Beast, a
news and commentary Web site that closed its doors in 2013. On a positive note,
MediaFinder reported that the number of magazine launches outnumbered the
number of magazine closures in the first half of 2015, with 60 new magazines starting
up and 23 closing down.
INDIAN MEDIA AND ENTERTAINMENT INDUSTRY

The Indian Media and Entertainment (M&E) industry is a sunrise sector for the
economy and is making high growth strides. Proving its resilience to the world, the
Indian M&E industry is on the cusp of a strong phase of growth, backed by rising
consumer demand and improving advertising revenues. The industry has been largely
driven by increasing digitisation and higher internet usage over the last decade.
Internet has almost become a mainstream media for entertainment for most of the
people.

The Indian advertising industry is projected to be the second fastest growing

advertising market in Asia after China. At present, advertising revenue accounts for
around 0.38 per cent of India’s gross domestic product. By 2021, Indian media and
entertainment industry to reach Rs 2.35 trillion.

Market Dynamics

The Indian media and entertainment industry is expected to reach around Rs 307,000
core crore (US$ 43.93 billion) by 2024. Media and entertainment Industry is set to
expand at a CAGR of 13.5 per cent over 2019-24.  In FY19, major segments were
television, print and films with a market size of Rs 713 billion (US$ 10.22 billion), Rs
333 billion (US$ 4.76 billion) and Rs 185 billion (US$ 2.62 billion), respectively. They
are projected to reach Rs 1025 billion (US$ 14.67 billion), Rs 375 billion (US$ 4.76
billion) and Rs 228 billion (US$ 3.26 billion), respectively in FY22. Indian television
market has an opportunity of catering to 100 million homes as 197 million homes out
of the total 298 million have TV sets as of 2018.

Digital media & entertainment (M&E) platforms in India grew 13.3 per cent in FY19 to
reach Rs 163,100 crore (US$ 23.34 billion), contributing the most to the growth of
M&E sector in the country. India’s advertising revenue is projected to reach Rs 1,367
billion (US$ 19.56 billion) in FY24 from Rs 693 billion (US$ 10 billion) in FY19. India’s
advertisement spending increased to Rs 67,603 crore (US$ 9.67 billion), growing at 11
per cent y-o-y in 2019.
India ranked at 15th in the world in music industry and is expected to enter into the
top 10 music markets by 2022.