CII Big Picture Summit Report 2015

CII BIG PICTURE SUMMIT New Delhi, 19-20 October 2015

RETROSPECTIVE Towards $100 billion Indian M&E Industry national policy for high growth of m&e

CII Big Picture Summit 2015 BEST MINDS BEST TALENT BEST CONTENT

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From the desk of DG, CII

Chandrajit Banerjee Director General Confederation of Indian Industry

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he Confederation of Indian Industry’s Big Picture Summit 2015 held between October 19-20 in New Delhi ended on a bright note with convergence of various media getting a major boost to work towards a National Policy for high M&E growth.

The summit deliberated on not only the form of this new convergence, but also how to design a new law to facilitate it in accordance with the technology shaping up the new digital world. Deliberations on innovation and disruptive business models were among the talking points at the summit.

The mega event assumed significance in view of the push for the M&E industry towards achieving $100 billion growth by the end of 2025. We brought together the best of business minds in the M&E space to chalk out a roadmap on the policy front and regulatory interventions that would give a boost to this sector.

The government, regulator, academia and civil society joined the discussions to suggest policy changes and new ways to boost M&E sector’s revenues and growth.

We are extremely thankful to Shri Arun Jaitley, Minister of Finance and Minister of Information & Broadcasting, to have met a CII delegation of top M&E CEOs and discuss issues pertaining to the industry during the summit.

The Minister of State for Information & Broadcasting Col. Rajyavardhan Rathore in his inaugural address provided clarity on the government’s vision and boosted the Indian M&E industry’s confidence for the goal of $100 billion to be achievable through a collaborative approach.

CII also organised a CEOs Roundtable with Shri Sunil Arora, Secretary, Information and Broadcasting, to discuss various issues related to the National Policy for high growth of the M&E sector.

The fourth edition of CII Big Picture Summit has infused a new breath of life to this sector whose soft power can bring innumerable benefits to the Indian economy. It has brought a fresh mindset to leap forward in this sector.

CII’s vision is to create growth templates in all M&E verticals and bring the industry together and speak in a united voice for all major issues. An innovative push from the government in an enabling regulatory infrastructure and policy reforms will create a world class knowledge driven entertainment economy for India.

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Sudhanshu Vats in conversation with Ajay Devgn

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CII Honours Ajay Devgn for His Contribution to Indian Cinema CII Big Picture Summit www.ciibigpicture.com 3

The two-time National Award-winning film actor is today among Bollywood’s most bankable box office stars Ajay Devgan Actor

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jay Devgn, who has been a part of Indian film industry for over two decades, was felicitated on October 19 for his valuable contribution to the Indian cinema at the opening day of Confederation of Indian Industry (CII)’s Big Picture Summit.

The two-time National Award-winning film actor is today among Bollywood’s most bankable box office stars. It isn’t his crowd-pulling prowess alone that defines him. His approach to his star status sets him apart from the crowd.

Primarily, his fans get to see Devgn only on the big screen. As his public appearances are rare, the seasoned actor lets his films do the talking for him. Like a true-blue professional, he has steadily evolved with age even if it might be fair to say that not every huge box-office grosser that he spearheads today does justice to the actor in him.

Devgn projects a wide range of screen personas with effortless ease – from fire-spewing crime-busters in commercial potboilers to the poker-faced lead in the Golmaal series of laugh riots to strong and brooding men in intense, offmainstream human dramas.

“When you are an actor you do not think about genres... When you are doing comedy you do think, ‘Oh I wish I was doing a serious film as it takes less energy’. Comedy needs a lot of energy and timing. When you are doing action you feel tiring. I like to switch and do different things,” Ajay said after being felicitated by Sudhanshu Vats, chairman, CII National Committee on Media and Entertainment and Group CEO, Viacom 18 Media Pvt. Ltd, for his contribution to the Indian cinema.

For nearly a decade after his debut, he was seen by industry observers principally as a non-actor, an action hero with panache for crowd-pleasing flamboyance. His fight sequences, his on-screen stunts, and his rough and ready methods endeared him to many segments of the mass audience.

But that is a thing of the past although Devgn’s action hero image is far from history as films such as Action Jackson and Son of Sardaar prove.

By the turn of the millennium, the actor had added many new layers to his screen persona, which helped him bag the National Award for Best Actor twice in the span of five years – for Mahesh Bhatt’s Zakhm (1998) and Rajkumar Santoshi’s The Legend of Bhagat Singh (2002).

“I’ve worked with every kind of director.

In the 1990s I was the first actor, who started working in so called ‘art cinema’.

Today it is not called art cinema as there are no films like ‘Dil Kya Kare’ or directors like Govind Nihalani, Rituparno Ghosh,” the 46-year-old actor said.

As his public appearances are rare, the seasoned actor lets his films do the talking for him While Zakhm was indeed the turning point of Devgn’s career, he had begun to show signs of his latent emoting prowess much earlier, notably in films such as Naajayaz, made by Mahesh Bhatt in the mid-1990s.

“I had those films where people thought I was crazy as a commercial actor doing films like these. But I learned a lot from these films. Also I’ve a lot of respect for Mahesh Bhatt. The only thing I tell everybody and tell him also is that I wish he could come back and direct again. His last film that he directed was ‘Zakhm’ for which I got a National Award and after that he quit.

So I really miss him,” the actor said.

His powerful performance in Najaayaz, in which he, playing the illegitimate son of an underworld don, managed to hold his own against an actor of the proven calibre of Naseeruddin Shah, was applauded. People sat up and took notice of the brooding eyes, the ability to

convey simmering anger with remarkable economy, and the willingness to experiment with character hues.

Devgn announced his arrival on the Bollywood firmament with a bang in 1991 with the super-successful Phool Aur Kaante. But for several years producers kept him pinned down to roles that exploited the stuntman in him, not the actor.

But he successfully broke free from those moorings and achieved greatness as a star and an actor. By experimenting with a wide array of genres, he has prevented himself from falling into the trap of any kind of stereotypes.

Today, at one end of the spectrum is his string of hard-hitting politically inflected films with Prakash Jha (Gangaajal, Apaharan, Rajneeti). On the other is his association with Rohit Shetty, with whom he has not only done the three Golmaal films and Bol Bachchan, but also Singham and Singham Returns.

The actor is also known for donning hats of a director and a producer as well.

When asked which one he likes doing more, the actor said: “I won’t say that donning the hat of a producer is my favourite one but I love doing it because it stresses you out too much. Rest as an actor or a director, I’m pretty much comfortable handing both, so I don’t have to worry about that.

Devgn is one of the few contemporary Bollywood stars who recognize the importance of keeping the image trap at bay. He is quality-conscious, pragmatic and absolutely clear about what he wants to extract from his craft. This enables him to play characters rather than himself on the big screen.

At 46, he is a Bollywood elder statesman who has paved the way for many younger actors who want to strike a balance between action roles and emotionally nuanced characters. If screenplays with both depth and range are available today in Hindi mainstream cinema more freely than ever before, then the contribution of the likes of Devgn has to be acknowledged.

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Col. Rajyavardhan Singh Rathore Minister of State for Information & Broadcasting

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Besides seeking several joint initiatives with the M&E indistry, the Minister called upon the industry leaders to provide “out of box solutions� to promote cinema through small and mobile theatres in rural areas to enhance its reach

Walking Hand in Hand With Industry T he government is seeking a partnership with the Media and Entertainment (M&E) Industry to set up an Institute of Excellence for Gaming and Animation, said Minister of State for Information & Broadcasting Col. Rajyavardhan Rathore at the CII-Big Picture Summit 2015 held in Delhi from October 19 to 20.

This is being done in view of Hon’ble Prime Minister Narendra Modi’s vision to strengthen India’s soft power potential. In this context, the Ministry is also considering making the National Film Development Corporation of India (NFDC) a single window institution for all film shooting permissions in India, he said.

The setting up of the institute has been under discussion in view of the skill development potential of the M&E sector “where the youth workforce could act as a force multiplier”, the minister said.

The Minister called upon the industry leaders to provide “out of box solutions” to promote cinema through small and mobile theatres in rural areas to enhance its reach.

The proposed joint initiative could lead to the convergence of content, skill and technology in the M&E domain, Col. Rathore said.

He commended the Indian media for its reach and ability to drive the economy. “You are in the mind of every Indian, your reach is amazing and you are driving the thought process and country’s economy,” the minister told the M&E industry leaders.

Regarding the various initiatives undertaken by the government, Col. Rathore said the potential of India as a “film shooting destination” is a part of the government’s proactive initiative in the policy domain.

The ministry is pursuing the idea of funding Indian films in collaboration with the industry to participate in prestigious international awards such as Oscar and film festivals like Cannes, he added.

In his address, Col. Rathore emphasized that the future roadmap of the M&E sector depended upon technology, creativity and vision to tap resources for optimal utilization. The government’s policy would incorporate the same keeping in mind the contemporary M&E domain framework, according to the minister.

Highlighting some Ministry initiatives, Col. Rathore emphasized the success of FM Phase III auctions in light of the transparent process adopted, measures being put in place to fast track digitization and the emphasis of the government on Social Media and Digital advertising to ensure enhanced presence of government initiatives.

Col. Rathore also emphasized the need to provide top class training to the media fraternity so as to ensure good quality skills and content in view of the challenges facing the sector.

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We should have a mental time frame of two to three months to give some kind of a tangible document.

And, we will involve all stakeholders at various stages Mr Sunil Arora

Secretary, Ministry of Information & Broadcasting, Government of India

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CII organised a CEOs Roundtable with Mr Sunil Arora, Secretary, Ministry of Information & Broadcasting on issues related to the National Policy for High Growth of M&E

Coming up, a Comprehensive Policy

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articipating at the CII CEOs Roundtable on October 12 with media and entertainment industry leaders, Mr Sunil Arora, Secretary, Ministry of Information & Broadcasting said the Ministry will soon draft a comprehensive policy document that will give a roadmap for the M&E industry to grow and scale new heights.

However, Mr Sunil Arora made it clear that a “robust self regulation” is what will be looked into.

In a candid 120-minute discussion with M&E CEOs across verticals, Mr Arora gave a patient hearing on roadblocks faced by industry -- single window clearance, ease of doing business, infrastructure, screen density, skills, increase in FDI among others.

Mr Arora promised collaboration with the M&E industry initiating more than “baby steps” needed by the sector to grow to new heights. Bearing issues impacting national security, Mr Arora maintained that “all issues raised by CEOs are eminently doable”.

Mr Arora said that within the I&B Ministry there is already is a sub-group headed by Mr J S Mathur, Special Secretary, Ministry of Information & Broadcasting whose terms of reference are now being recast. A new terms of reference (including the policy related issues) will be issued after deliberation with the M&E industry.

“We should have a mental time frame of two to three months months to give some kind of a tangible document. And, we will involve all stakeholders at various stages,” said Mr Arora. “When a certain document is ready it will be put on the website for a wider consultation.”

The comprehensive policy framework is likely to encompass all M&E verticals. As issues related to films come under the ambit of state governments, few secretaries from states will be included in the sub-group.

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CII CEOs Roundtable with Mr Sunil Arora, Secretary, Ministry of Information & Broadcasting 10 CII Big Picture Summit www.ciibigpicture.com

Fruitful discussion, it was Media and Entertainment CEOs were jubilant and encouraged after two-hours of interaction with Mr Sunil Arora, Secretary, Ministry of Information & Broadcasting, Government of India, during a roundtable conference in New Delhi on October 12, 2015.

Senior government officials Mr J S Mathur, Special Secretary, Minstry of I&B, Mr Sanjay Murthy JS (Films), Ms R Jaya JS (Broadcast) and Mr Punit Kansal JS (Broadcast) were also present during the discussion with Mr Arora.

CEOs representing across M&E verticals were optimistic and expressed a new air of confidence. “We have not seen this kind of frank discussion in recent times.” This was the constant refrain among media leaders who were present at the discussion.

Issues related to ease of doing business, creating business-friendly environment, film certication, single-window clearance for film shootings, spectrum for radio, carriage fees among others were discussed during the roundtable.

“It is a very progressive meeting attended by all major stakeholders. The Secretary has a clear plan with timeline of three months. We look forward to working with the group led by Mr J S Mathur,” said Mr Sudhanshu Vats, Chairman, CII National Committee on Media & Entertainment and Group CEO, Viacom 18 Media Pvt. Ltd.

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Desired Policy Changes The Indian M&E industry looks forward to a policy that will visualize a clear cut roadmap to make India a media superpower of the world Need for a clear policy to achieve explosive growth similar to sectors like IT & Telecom which were backed by supportive policy

The Indian M&E industry looks forward to a national policy that will visualize a clear cut roadmap to make India a media super power of the world

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Make India a leading force in creative industries globally

Improve ease of doing business

Build M&E into an economic powerhouse & target growing contribution to 2% of GDP

Give potential investors a clear roadmap for the next decade

A “feather touch” regulatory approach to facilitate growth in the new converged and changing media space and business models

Create an objective & transparent construct for freedom of speech and social responsibility

Infrastructure status to media and entertainment industry as information industry

Incentivizing investment in content & technology through innovation and protecting IP

Policy to take care of evolution of new technologies across all verticals of the sector Market led pricing with parity across different media – pricing deregulation, transparency in distribution/value chain

Fair property rights regime - IPR policy.

Pro-active policy initiatives are needed to do away with piracy CII Big Picture Summit www.ciibigpicture.com 13

M&E Undergoing Transformation

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he M&E industry landscape in the country is undergoing transformation and this is a challenge for all stakeholders, said Special Secretary, Ministry of Information & Broadcasting, Mr. J.S. Mathur, in his address at the CII Big Picture Summit.

Mr J S Mathur Special Secretary Ministry of Information & Broadcasting

He emphasized that the government has taken many initiatives for providing an enabling environment for the growth of the sector. He said the rapidly changing technology provides great opportunities for various industry players in the sector - specifically content developers and creators.

Mr. Mathur said the government is committed to an enabling environment and the CII Big Picture Summit’s intent to work towards the goal to achieve $100 billion M&E sector is commendable.

He said the single window clearance for foreign film shooting will soon take off. While the issue of self regulation is set at rest, it needs more debate and introspection, he added.

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The multiplicity of tax will go in one stroke.

Entertainment, services and goods tax both at the Centre and states will be built into one, making compliance hassle free

Under GST everybody will be getting credits.

There will be cross adjustments of credits

The tax levied by local bodies like panchayats and municipalities would remain the same as it is a major source of income to the local bodies. But the share of such taxes to the total tax collected would be insignificant Under GST there will be no concession or incentives to any industry.

However, states which are wanting to continue with the fiscal concessions (like entertainment tax) could do so setting apart resources from their own kitty

Ms Rashmi Verma Special Secretary Revenue, Ministry of Finance

The rolling out of GST will have a huge positive effect on the Media & Entertainment industry

The GST will bring in certainty of taxes. You will not be dealing with multiplicity of tax authorities. There will be a common portal of GST Network (GSTN) to pay taxes

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Three Pillars of GST Mr V Krishnan, Member, Service Tax, Ministry of Finance, said that the three pillars of GST would be rate, technology and legislation. Regarding rate, he said that National Institute of Public Finance and Policy (NIPFP) was looking into the possible rate structure which could keep cascading effect to the minimal.

On technology, Infosys was entrusted with the task of creating a world class portal to provide for an IT platform for the implementation of the GST. On legislation, he assured that industry would be consulted at every stage to bring to the fore their views, concerns and suggestions to be incorporated in the GST framework.

V S Krishnan Member Central Board of Excise & Customs (CBEC)

Mr Krishnan said GST is one of the most important reforms in post independent India. “It is going to enormously increase the volume of economic activity.

It is going to have a multiplier effect.

The volume of trade will go up. You will be surprised with the kind of opportunities that are going to come.

The GST model law will be put on public domain.

Nothing will be implemented without getting feedback from public domain. Don’t second guess as to what is going to happen. Respond when the rules are put on the public domain. Judge us on what has been put on public domain 16 CII Big Picture Summit www.ciibigpicture.com

Call for Shared Approach

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consortium approach should be followed by the M&E industry and the government to promote the convergence of TV and radio through smart phones to realize its true potential, said Mr. Jawhar Sircar, CEO, Prasar Bharati, as he addressed the M&E industry leaders at the fourth edition of CII Big Picture Summit 2015.

Jawhar Sircar CEO, Prasar Bharati

Mr. Sircar said Prasar Bharti is sitting over bandwidth to broadcast signals enough to carry over 20 channels to be received by smart phones (via dongle).

He said there will be over 200 million smart phones in India in the next 18 months (currently 100 million) and it is time a consortium is formed to 足approach the government. This can also be run initially as an experiment in four metros, he added.

He suggested that a shared approach should be there among the players to make use of the vast infrastructure of the government.

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Future is Contracting T he way we look at future is changing, bringing with it a lot of challenges for the industry, said Mr Sudhanshu Vats, Chairman, CII National Committee on Media & Entertainment and Group CEO, Viacom 18 Media Pvt. Ltd, at the CII-Big Picture Summit in New Delhi.

important,” Mr. Vats suggested.

He spoke about convergence in the M&E sector.

According to Mr. Vats, convergence in the new media sector is about three key constituents -- content creation, content platforms and communities.

talent and improve the physical ecosystem for making India the M&E hub of the world (e.g. venues, production studios, hotels, travel, convention centres and the like). You see our sector finds itself in the unique position of a force multiplier. We drive many other ecosystems. For our sector to grow, these ecosystems also have to grow and vice versa,” ­Mr. Vats observed.

For the M&E sector to enter its next growth orbit, there is a need to focus on three key issues, he said.

The first one, Mr. Vats said, is improvement in ease of doing business. “This refers to the licensing and permissions regime for channels, “Future is contracting. Earlier when we talked events, films, satellite bandwidth, etc. Firstly, about future we would have a 20 year horizon in we need to create consensus on which ones mind, subsequently we talked about future with out of these are absolutely crucial. Once we’ve a 10 year horizon in mind. But today when we arrived at that consensus we need to create talk about future we talk in terms of five years an online, timeline-based, single-window and and moving ahead it will be reduced to a two transparent mechanism for receiving these year horizon,” Mr. Vats said. permissions. Time to market is an extremely critical metric for media organizations,” he said.

A positive thing happening with the contracting future is that it is increasing the canvas The second crucial issue is the need to grow for the media and entertainment sector, the infrastructure investments. “These refer to Viacom 18 CEO said. investments to improve connectivity, build

“Content creators are indispensable in any period and they have been playing their roles beautifully. The new technology is developing content platforms in a big way. Indeed, content platforms are evolving with new technologies,” Mr. Vats emphasized.

Earlier, content creators and content platforms were catering to various communities.

But when we look at the shortened horizon of 2020 we find that these are not linear, he said.

“In the past there were content creators, content platforms and communities. But today they have begun to overalp. Today there are communities who you cater to, who may one day become content creators or platforms, particularly through social media. There is an overlap happening between these three constituencies. And this overlap is brining disruptions,” Mr. Vats pointed out.

Disruptions which need to be made are to be made here and now, he said. “And it will happen whether we like it or not. It is the ability to keep pace with these disruptions which is

The third crucial factor, he said, is transition towards a freemarket based paradigm for regulation. “The sooner we move towards a freemarket based regulatory construct the more competitive we can be on the global stage. We need to unshackle pricing, ensure parity of norms across different media platforms given the reality of convergence and announce a fair, well-thought and equitable property rights regime,” he added.

Mr. Vats said that he believed that it is the skills and the human capital that will be able to build the Indian M&E sector.

“If there is one sector which can truly ‘Make in India’ -- it is the media and entertainment sector. We have the capacity, capability, ­wherewithal, competitive instinctiveness (compared to anywhere in the world) to make in India and show the world,” he said.

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Sudhanshu Vats Chairman, CII National Committee on Media & Entertainment and Group CEO, Viacom 18 Media Pvt. Ltd

According to Mr. Sudhanshu Vats, convergence in the new media sector is about three key constituents -- content creation, content platforms and communities

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The STAR India COO called for a clarity on the policy issue so as to attract domestic and international investors Sanjay Gupta COO, Star India

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Need for Change S

caling up the volume of content, more FDI flow into the M&E sector, infrastructure development, robust business models, better pricing of content, clarity on the policy environment and disruptive ideas were some of the key issues highlighted by Mr. Sanjay Gupta, COO, STAR India, at the CII-Big Picture Summit 2015.

“In the past 15 years, the M&E sector has barely seen any new entrant and only around $4 billion FDI. To achieve $100 billion growth, the industry needs to invest at least $50 billion over the next decade,” Mr. Gupta said.

He said the M&E industry has been growing at an impressive rate of 12% on an year-on-year basis, as he highlighted the potential of various media verticals to grow at a much faster rate.

He said sports is a $2 billion industry that could easily grow to around $10 billion in the next five years. “Be it Hockey, Football, Kabaddi or Badminton, the new sporting leagues are being lapped up by the audiences,” he said.

But “one needs to scale up the volume of content”, Mr. Gupta added.

Speaking about challenges of infrastructure development, the STAR India COO said: “Although Punjab and Haryana contribute large numbers of Kabaddi players, one cannot add more teams based in either of these two states because they do not have a single indoor stadium that could host a Kabaddi match.”

“In Mumbai, the game is hosted at the NSCI Dome, but the biggest constraint is the availability of this facility for a reasonably long period of time,” he pointed out.

He stressed on the need for India to have more movie screens. “With around 8,000 screens, India has one of the world’s lowest screen densities,” he pointed out.

Highlighting the challenges faced by news channels in the country, Mr. Gupta said they needed a “robust business model”. “None of the channels make any money because none earn any money from subscription. Globally, subscription contributes as much as 60-70% of the total earnings of a news channel,” he said.

Television distribution is roughly a third of the total value of the media industry, Mr. Gupta said. “Since the sector is considered a basic need from a consumer viewpoint, the prices at which content is sold by creators to platforms is regulated – prices frozen in 2003 haven’t changed in the past 12 years. In the same 12-year period, even the price of milk has jumped from Rs12-15 a litre to Rs35-40 a litre!”

He also highlighted the need for the M&E sector to have a sustainable business model. The STAR India COO said that high entertainment tax be brought down to enhance growth.

Mr Gupta asserted that there is an urgent need to make distribution profitable, position animation as the next wave of export-oriented growth, support a serious scale-up of exhibition screens and sports stadiums and allow content innovation in radio.

The STAR India COO called for a clarity on the policy issue so as to attract domestic and international investors.

The M& E sector needs brave new entrepreneurs, disruptive ideas and unconventional business models, he said.

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Session on Enabling Policy Framework for Indian M & E

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 Voices for Change The M&E leaders came together for the CII-Big Picture Summit to highlight various regulatory and policy issues being faced by the industry so as to help bring about positive changes to reach the ambitious growth target of $100 billion

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Sudhanshu Vats Chairman, CII National Committee on Media & Entertainment and Group CEO Viacom 18 Media Pvt. Ltd.

Harit Nagpal CEO, Tata Sky

Raj Jain CEO, Bennett Coleman & Co

I’m all for timely implementation of policies, but not at the cost of well-thought formulation of policies.

Given the frantic pace at which our sector is evolving, several market players find themselves behind major tech-driven changes.

It is only natural that policy will take even longer to evolve. What I’d like to see is a sacrosanct roadmap of how we can move towards a future-ready, light-touch regulatory framework that is cognizant of the converged reality we operate in.

With Tata Sky catering to 10 million DTH customers out of a total of 60 million, can the renewal of DTH licensing be questioned? Should it not be an automatic renewal?

We have been part of the digitization revolution for the last 10 years. If our working environment is made ready for the 21st century it would help us reach our dream of $100 billion faster.

We don’t need regulation and we don’t want to talk about regulation. Self-regulation is working well for us.

The three changes that we need for the print industry are: We need to revisit the repealing Wage Board; the government should have a formula based on inflation for revision of DAVP rates; and print industry should not be negatively impacted by GST.

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Piyush Pandey Executive Chairman and Creative Director, Ogilvy & Mather India and South Asia

Punit Goenka Managing Director & CEO, Zee Entertainment

Ashish Kulkarni Founder & CEO, Punnaryug Artvision Pvt Ltd.

We are in huge short supply when it comes to talented people.

I don’t think there is a dearth of talent in India. We need more NIDs in India. The (national) policy, should have a provision for developing infrastructure to get the right talent from across India. Communication should be made a part of skills development to train and skill talent for content creation.

We need liberal regulator to run the industry. We are always at loggerheads with regulator on post facto issues. If we have to realise our dream towards $100 billion for the Media and Entertainment industry, may be we need an independent regulator for the entire industry and not just a division of TRAI.

We need a public broadcaster for kids in India. It should be a digital terrestrial free-to-air channel.

That’s when it will give a boost to content creation. The Children’s Film Society of India (CFSI), which has produced over 240 children’s films, can act as a de-facto producer of DD Kids contents by partnering with the local producers. There should be original content creation fund for CFSI to encourage production in India.

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Sonia Singh Editorial Director, NDTV Group

Tarun Katial CEO, Reliance Broadcast Network Ltd.

Neeraj Roy MD & CEO, Hungama Digital Media Entertainment Pvt. Ltd.

It is important that if journalism has to survive in India, it has to be fiercely independent. We have a public broadcaster, but doubts are raised (from time to time) on how independent it is.

We find it disheartening when we get showcause notices for questioning Supreme Court judgments, whereas a newspaper escapes such notices. TV news channels are also threatened. We should have a broadcast commission -- a panel of eminent citizens 足headed by a former Supreme Court judge.

The government has done a fabulous job on Phase III FM radio auctions. We have various caps on radio... All we need is an enabling environment. We are tied to AIR News on FM radio. I argue for opening up of sports on FM radio. FDI for radio entertainment also needs to be raised from the current 26 percent. A long term policy on spectrum allocation, a digital radio policy and AM radio privatisation are some other issues that need careful consideration.

Today, content creators are seeing only 5-7% monetisation on digital platforms. In the next two to three years, digital consumption is set to increase.

(But) Support and endorsement is sought from the Ministry of Information & Broadcasting and TRAI to block access to 200 odd pirate sites. If we are able to do this, we will start monetisation.

Telecom players will benefit as they are beginning to create layers for entertainment services.

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J S Mathur Special Secretary, Ministry of Information & Broadcasting

Sunil Singhal Advisor, Telecom Regulatory Authority of India (TRAI)

Rajeev Singh Member (Finance), Prasar Bharti

The government has taken many initiatives for providing an enabling environment for the growth of the media and entertainment sector. We are soon going to have discussion with the industry to concretise new ideas and take up the larger issues facing the industry.

Policy regulation helps in channelizing the energy of all stakeholders towards one direction.

Stakeholders also include consumers. The regulator is focusing on protection of the consumer interest as well ensuring the growth of the industry. One step in that direction is digitization and increasing the reach of FM radio.

Industry should come out with suggestions.

We never get to know much about what’s to come three or five years’ down the line.

The light touch regulation is the stated policy of Indian regulator.

We have to cater to the local markets in the country. We have to cater to over 50 crore people in India who do not have TV at home.

This would take the Indian M&E industry towards $100 billion.

All ad agencies are in big cities. We have to have a broadcast model which is scalable to a particular geographical area.

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Release of CII-BCG Vision 2020 Report

CII-BCG Vision for 2020 T he Indian Media & Entertainment (M&E) industry has the potential to reach $100 billion by 2025 (including distribution revenues from broadband) by 2025. This would imply a growth of Rs. 210,000-250,000 crore by 2020. Such robust growth can come only on the back of enabling infrastructure and the support of the government and the industry itself.

With a growth potential of 13-16% YOY the industry has the potential to emerge as one of the largest employment providers, contributing significantly to the Gross Domestic Product (GDP), according to a report -- ‘Vision 2020 Document on Media & Entertainment Sector’ -- prepared by the The Boston Consulting Group .

“At the core of this optimism is the fact that the underlying Indian consumer trend is positive,” Kanchan Samtani, Partner & Director at The Boston Consulting Group, was quoted as saying in the report.

“Unlike mature Western markets, digital media could expand the overall market size by tapping into latent demand and

driving new media consumption rather than merely replacing other, more traditional platforms,” she added.

The significance of India’s M&E sector cannot be stated enough. It has the world’s third largest television viewership base after the US and China, the world’s second largest print industry in terms of circulation, and produces the highest number of films worldwide (1,900+ films per annum), the report said.

“The next decade, however, will be the decade of change. We see the interplay of five forces creating a tectonic shift which can potentially catapult the industry into the next orbit of growth.

India is gearing for a consumption explosion.”

New consumption behaviors will get created with always-on, on-the-go, ondemand and seamless pick-where-youleft models across multiple devices and time frames. The distinction between prime and non-prime time will become redundant due to these changing patterns and behaviors of online consumption, the report said.

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It will also create fragmented audiences. With the ever-increasing choice of content and the popularity of timeshifted and on-demand viewing, measuring viewer behavior will become increasingly critical as it will facilitate targeted advertising. Further, there is a fast growing need for innovative and newer ad formats for effective monetization, it stressed.

The report was discussed threadbare at the 4th edition of the CII Big Picture Summit held on 19-20 October 2015 in New Delhi.

At the same time the next decade could also provide India the opportunity to emerge as a global M&E hub.

Opportunities, content and players are all becoming universal, and India — backed by a stable macroeconomic outlook, a youthful, English speaking workforce and the government’s “Make in India” and “Digital India” blueprints— is strongly positioned to exploit such trends, the vision document said.

“To advance industry growth, India needs to establish itself as a global

Session on presentation of Vision 2020 Report production hub and encourage higher investment in the M&E sector – from global and domestic players,” said Neeraj Aggarwal, MD, the Boston Consulting Group-India.

Linear value chains of the past will collapse, accommodating new roles and new players. “This evolving ecosystem will create new winners and these winners will do three things differently,” contended John Rose, Senior Partner at the Boston Consulting Group.

“They will think big, leverage multiple monetization models – adding up dimes to create dollars and invest heavily in content – for content will continue to be king.”

Mr Sudhanshu Vats, Chairman, CII National Committee on Entertainment and Viacom 18 Group CEO, said, “Ours is an industry that is perpetually on the cusp of disruption. Dealing with these forces of disruption has become a habit for most of us. That said, we often suffer from ‘tunnel vision’ and tend to focus solely on the sectors we play in. I would like to congratulate BCG and CII for providing us with a systemic view of our business without compromising on the nuances of each sub-sector.

“The macro lens taken by them has revealed cross cutting themes that are insightful for the reader irrespective of whether she works for a print, TV, radio or digital platform. A couple of years ago, many trade pundits commented on how the perfect storm had engulfed our sector.

“Today, I’d like to believe that we‘ve entered the ‘perfect spring’.

As a whole, we have grown in scale with a total size of Rs 1,15,500 crores, employing over 5 million people and contributing ~1.7% of our nation’s GDP (Gross Domestic Product). Hopefully, a bumper harvest isn’t too far away,” he said.

Kanchan Samtani Partner and Director, BCG – India

Unlike mature Western markets, digital media could expand the overall market size by tapping into latent demand and driving new media consumption rather than merely replacing other, more traditional platforms

John Rose Senior Media Partner, BCG- USA

Linear value chains of the past will collapse, accommodating new roles and new players. This evolving ecosystem will create new winners

CII Big Picture Summit www.ciibigpicture.com 29

Breaking New Paths

Session on How do we achieve the target of USD 100 Billion?

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he Indian Media & Entertainment sector has to look for new ways to engage and partner within and outside the industry and embrace disruption to achieve the $100 billion growth target by 2025, said industry leaders, as they deliberated on the CII-Big Picture Summit theme -- ‘How do we achieve the target of USD 100 Billion?’ -- at the event’s fourth edition.

Participating in the discussion were industry veteran Mr Amit Khanna, Mr Anuj Gandhi, Group CEO-India Cast, Mr Biren Ghose, Country Head-Technicolor India, Mr R Sukumar, Editor-Mint, Mr Neeraj Agarwal, MD-BCG India and Mr Achint Setia, Head-Corporate Strategy and Business Development, Viacom 18 Media Pvt Ltd. “In the beginning (during the first edition of CII Big Picture Summit in 2012) many people scoffed at it (the $100

billion goal). But I am optimist who believes that once you set a goal you try to achieve it,” said Mr Khanna.

“We are not ready to face the future. It doesn’t wait for anyone. It comes with a cataclysmic speed,” Khanna warned as he elaborated on the changing dynamics of the media industry.

“Linear broadcast will die in 10 years.

OTT and other access devices are being talked about a lot. In two years’ time there will be interoperability of formats and standards,” he said.

Stressing on adopting innovative methods for speed, Mr Setia said that partnership, measurement and skills development were among key areas that the M&E industry should embrace to achieve the goal of $100 billion.

“In the new world, the consumer experience and convenience have become

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differentiators in order to monetize any form of service.

“It will be difficult for the media sector alone to serve the consumers as we do not know how they will experience five years from now,” Setia said.

Mr Ghose said that 50 percent of the M&E content has been coming from emerging markets. “We need to create industrial scale infrastructure and skill sets and embrace new technology to transform the Indian M&E sector,” he added.

Mr Sukumar said there were huge opportunities for entertainment sector in gaming and services space.

On the challenge faced by distributors, Mr Gandhi said the biggest challenge for distribution in India is how to make consumers to begin to pay for what they consume. “It is most crucial and challenging,” he said.

Amit Khanna Media Industry Veteran

Achint Setia Head, Corporate Strategy and Business Development, Viacom 18 Media Pvt Ltd

Biren Ghose Country Head, Technicolor India

Curation and customization is very critical for survival. The next generation internet is about customization and curation. The future belongs to personalized segmentation.

Five years from now, newspapers should be able to customize news on demand.

We are living in a new world today, where Uber taxi ride can be booked through zomato app. We need to have partnerships across industries and value chains. We need to bring the payment guys, infrastructure providers and travel people together.

We need to use technology to reduce labour cost and increase productivity. That is quite far away for any of the spaces we have in the media and entertainment sector.

This is very crucial for India.

Anuj Gandhi Group CEO, India Cast

Neeraj Agarwal MD, BCG India

R Sukumar Editor, Mint

I see a great opportunity in reaching out to South Asians who have become more mainstream. In India, we should look beyond distribution.

Local advertising has huge potential. We should create avenues, say for example for a local restaurant in Ranchi.

The avenues for the M&E industry to grow its canvas are truly mind blowing. There is unique consumer opportunity and consumer need, advertising need and global need. If we bring these together, we can chart this industry to the path forward.

I don’t think we have an equivalent of BPO industry in the entertainment space. It is a huge opportunity. Many people have said they are going to do it but no one has done it so far.

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Session on Multi-Screen Content Consumption – Young Minds

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Change is in the air

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panel of young viewers in their 20s made it clear at the CII Big Picture Summit that they don’t watch traditional linear TV anymore and are fixated to watch content on demand online or what they want to watch.

They were sharing insights into the content they watch online at an interactive session entitled “Multi-Screen Content Consumption – Young Minds”. The interaction underscored a clear emerging trend that big general entertainment channels are losing young audience to the Internet.

The youngsters made it clear that they don’t read newspapers; watch prime time general entertainment soaps; and many of them do not watch content sourced from US TV networks as they get edited version on television. They are hooked to Apple TV, OTT platforms, Whatsapp, Instagram, Snapchat among others.

“I have neither watched TV nor read newspapers for two years. I watch everything online as it is at my disposal,” said Ms. Meghna Nijhawan, Head, Content, Vixtee, NDTV Convergence. Meghna prefers to watch AIB on Internet or IIFA behind the screens on an App. “We are watching what Americans are watching instantly,” said Vishwajoy Mukherjee, Director of web series Baked, which has 4.5 million online viewers.

Viswajoy admitted that financing is a major issue and they did not take Baked to traditional broadcasters and sold Baked to ScoopWhoop.

“We are an on demand generation. TV prime time is 8 PM to 12 PM. Our prime time is all the time.

We are constantly connected and committed to the device we use,” said Mr Rajneil Kamath, Public Policy and Government Affairs Analyst, Google India. “It is not that we don’t watch content on big screen. We don’t get what we want to watch.

The set-top-box is not intelligent to provide what we want to watch.”

Mr. Raj Nayak, CEO, Colors, said: “This young audience will get a critical mass when the bandwidth issue is resolved.” Also, the content watched by young minds will not take off unless there is revenue monetization or ads.

CII Big Picture Summit www.ciibigpicture.com 33

Session on The Future of Digital Media

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Original Content to Drive Media

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riginal content and curation will continue to play a major role in digital media and news consumption in the emerging world where there is an explosion of content and dialogue in the mobile environment, said experts at the CII-Big Picture Summit.

They observed a clear emerging trend that news and information will be consumed on mobility in the coming time.

Social media companies are technology companies who have become intelligent distributors. “They are emerging as distribution partners for original content,” said Mr. Raghav Bahl, Founder & former MD, Network 18 and founder, The Quint.

“It is intelligent content that is doing well. I continue to learn everyday. People who teach me are twenty something. This is a medium of young people. Listen to them,” said Bahl.

Mr. John Rose, Senior Media Partner, BCG-USA and Ms. Kaveree Bamzai, Editor–at-large, India Today participated in the panel discussion.

Notes from Raghav Bahl

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•

•

•

The debate for and against digital is over. Everything is digital. The important thing is are we going to consume content in a static device or a mobile device; Is it going to be consumed real time (linear) or on demand/time shift (non linear).

As far as news and information is concerned, the jury is over. Most of it is going to move to handheld devices.

Films (large format content) will continue to have a significant presence on a static screen because large format experience is a community experience.

Social media which was once thought as a threat to content consumption is now a partner and acquiring the shape of the distributor. As Google, Facebook, Amazon, Apple form a news and information small format ecosystem, I believe they become partners for us.

It is intelligent content that is doing well in digital. I have seen some of the most serious, intelligent pieces, arguments, perspectives, editorials in digital media. The consumer wants original content and original take on things. All the principles of information dissemination and journalism which we held high in linear world are more relevant and important today.

CII Big Picture Summit www.ciibigpicture.com 35

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Social Media to shape consumer behaviour The session on the influence of social media brought out a clear message that it will not only influence what we think, but will also shape consumer behaviour not only in news domain but across categories.

“I have always believed that Facebook is for voyeurism, Twitter is for information and YouTube for engagement,” said Mr. Suhel Seth, Managing Partner, Counselage India & Founder, Equus.

“Social media is critical to India from the point of view of bringing stories across India which otherwise may not enter newsrooms. But my concern is social media don’t have editorial filters,” said Mr. Rajdeep Sardesai, Consulting Editor, India Today Group.

Mr. Satya Raghavan, Head, YouTube India and Mr. Viral Jani, Head-TV Partnership, Twitter India were also part of the panel discussion -- “How Social Media is enriching the Media & Entertainment Industry.”

Session on How Social Media is enriching the Media & Entertainment Industry?

CII Big Picture Summit www.ciibigpicture.com 37

GST to be a Game Changer

Session on Taxing times for Indian M & E Industry – is GST the answer?

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he rolling out of Goods and Services Tax (GST) would be a game changer for the media and entertainment (M&E) industry, said Ms.Rashmi Verma, Special secretary-Revenue, Ministry of Finance, Government of India, at the CII Big Picture Summit-2015.

“Multiplicity of tax will go in one stroke.

Entertainment, services and goods tax both at the center and states will be built into one -- making compliance hassle free,” Ms. Verma said.

However, she added that entertainment tax levied by local bodies like panchayats and municipalities would remain the same. But the share of such taxes to the total tax collected would be insignificant.

ments like advertisements, Ms. Verma said: “The consumer and industry need not have to worry about the apportioning of the tax proceeds since it is under the purview of center and states.”

She also allayed concerns of the industry that clarity was lacking in defining differences between goods and services and tangible and intangible goods.

Referring to the one percent additional tax to be levied during the two year transitional period of GST, she said such tax was mainly for the manufacturing sector and the services would be kept out of it.

Ms. Verma assured the industry would be consulted before any decisions were taken.

Close to 99 percent of the taxes levied under the center and state dispensations would be merged with GST, she added.

She urged the industry leaders to give their inputs in the drafting process.

Speaking about complications arising from the proposed GST for M&E seg-

“A model legislation will be put in public domain by the third week of November

38 CII Big Picture Summit www.ciibigpicture.com

this year and regional workshops would be held at important cities to elicit the views of the industry associations at the apex and state levels,” she said.

The dialogue process would be continuous and the GST Council to be constituted will take stock of the suggestions from time to time.

Ms. Verma said that there would not be any concessions or incentives under the GST regime. However, she said that the states which are wanting to continue with the fiscal concessions for specified sectors could do so setting apart resources from their own kitty.

Mr. V Krishnan, Member, Service Tax, Ministry of Finance, said the three pillars of GST would be rate, technology and legislation. He said the National Institute of Public Finance and Policy (NIPFP) was looking into the possible rate structure which could keep cascading effect to the minimal.

A P Parigi, Advisor to the Chairman, Network 18

Farokh Balsara Partner & National Leader-Markets, Ernst & Young

Ashok Mansukhani Whole Time Director, Hinduja Ventures Ltd.

For the GST transitional period, central government should set up a well-equipped secretariat. We at CII should sensitise every state government to create a secretariat for GST (similar to special courts) to navigate transition to GST. Similarly, companies should have finance/accounts persons to navigate with auditors.

Copyright and IP are important for media companies.

In the draft rule of GST, copyright has been defined as goods. The moment you classify copyright as goods as opposed to service it becomes liable to the proped one percent levy.

It is a crucial time for cable TV industry in India. Seven thousand seven hundred and four towns and cities in India have to be digitised by December 31, 2015. Nobody has any issues with GST. We need to have a clear transitional status worked out.

Ravi Kottarakara Film Producer, Director & Distributor and VP, FFI

GST is like a double edged sword for the film industry.

When service tax came, every commercial tax officer had his own version of the tax. We do not know the advantages, repercussions and where do we stand. We need a lot of clarity.

We are working on the transition roadmap so that the changeover hiccups are minimal.

The GST Council will be set up after constitutional amendment to look into any concerns raised and take corrective actions Rashmi Verma Special Secretary, Revenue, Ministry of Finance

Avnindra Mohan President, Legal & Regulatory, Zee Network

There should be certainty and enabling tax regime.

GST will certainly be better.

There should be clarity from the government as there is still room for back door entry for taxes. The signal that we transmit is considered as goods and VAT is levied on it.

CII Big Picture Summit www.ciibigpicture.com 39

Session on Increasing exports and attracting investments in M&E Services

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Making India Content Hub India needs a major push to be positioned as a hub for creating content for the global markets and this push will come from the ongoing digital explosion, said experts at the CII-Big Picture Summit.

Ease of doing business and clarity on policy were mentioned as enablers to increase exports and attract investment.

The success in the future will depend on how effectively we utilize India’s mythology and storytelling and combine it with the latest innovations in technology to catch the imagination of the global audience.

“If we just look at the impact of Peter Brook’s Mahabharat on the global entertainment industry, we get a sense of what we are capable of doing. We have far more believable, close to life and larger than life characters that can be etched out of our story culture,” said Mr. Resul Pookutty, Sound Designer & Oscar Award Winner at the CII Big Picture Summit.

“There has never been a better time than now,” said Mr. Ferzad Palia, Executive VP & Business Head, English Cluster, Viacom18. “India can be positioned as a hub for creating content. What we lack is overall branding and we need to build in a whole set of infrastructure.”

At the same time there was on overall agreement from panellists the content created within India has to find a way to reach out and made available within the country.

“An overall national policy on entertainment from the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, is the need of the hour,” said Mr. Uday Singh, Managing Director, Motion Pictures Distribution Act (MPDA).

Mr. Ashish Kulkarni, Founder & CEO, Punnaryug Artvision Pvt Ltd advocated a formation of Creative Content Commission for India.

“We should have a media policy and art policy. It is high time we need to bring all M&E verticals under one umbrella,” said Pookutty.

Mr. Sabbas Joseph, founder, Wizcraft World, who championed the export of Indian film content through IIFA, said: “We have to collectively position ourselves as a creative industry of India.” “Together, the Indian M&E sector can be more powerful than many governments. We need to showcase India effectively.”

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Disruptive Ecosystem The digital media space is being redefined by disruptions through technology and new business models. New business models for video, music & ad technology are trending in digital media space as a result of disruption in content creation, content consumption and content distribution

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Session on Disruptive new business models for video, music & ad technology

CII Big Picture Summit www.ciibigpicture.com 43

Tackling Regional Divide

Session on FUTURE SHOTS – from Regional Cinema

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ilms produced at regional centres in the country should be able to overcome various barriers to reach out to viewers across India, said experts at a session dedicated to the regional cinema in the country.

The session was moderated by Ms. Shubhra Gupta, Film Critic and Columnist, the Indian Express and the panellists included Mr. Shiladitya Bora, CEO, Drishyam Films, Ms. Bobeeta Sharma, Chairperson, Assam State Film Finance & Development Corporation, Mr. Ashoke Viswanathan, Film-maker from Kolkata and Mr. P Sheshadri, Filmmaker from Karnataka.

“As audience we need to stand up and get counted to watch films produced from all parts of India,” said Ms. Gupta. She also made it clear that the Indian Cinema does not mean only “Bollywood”.

Filmmakers from Karnataka and Assam said they don’t even find good slots to

release their films within their state leave alone across the country. Many regional films get slots at 9 AM or 11 PM in multiplexes, rued filmmakers.

UFO’s Scrabble and Real Image’s Qube also came under criticism for their monopoly as digital cinema intermediaries.

Filmmakers called for a clear policy to restrict their monopoly.

“Films produced from regional cinema is the future,” observed Viswanthan, a filmmaker from Kolkata. “Regional films should have access across India.”

He added that films from regional cinema portray the turbulent times. It is the cinema of dissent and the cinema that needs attention and is already going global.

“Ours is a truly plural nation and regional cinema should be nurtured to be viewed everywhere,” said Viswanathan.

“We have been struggling to find a place. We are supported by Assam government and we need platform for our

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content,” said Ms. Bobeeta Sharma as she gave her perspective on Assamese cinema. Assam has a total of 60 single screen theatres and five multiplex screens.

Ms. Sharma said the national broadcaster Doordarshan should revive the regional cinema slot in addition to screening Indian Panorama and National Award Winning Films.

Mr. Sheshadri said that Chennai has a population of 25 lakh Kannadigas and Mumbai has 15 lakh Kannadigas but still Kannada films don’t get theatres in these cities.

“The time has come for regional filmmakers to work like entrepreneurs to release films in multiplexes and theatres,” said Mr. Bora. “They should go beyond making their films.”

The rise of Marathi and Gujarati films was also acknowledged during this panel discussion.

CII Felicitates Ms Sharmila Tagore

Sharmila Tagore Veteran Actress

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The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes.

CII is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India's development process. Founded in 1895, India's premier business association has over 8000 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 200,000 enterprises from around 240 national and regional sectoral industry bodies.

CII charts change by working closely with Government on policy issues, interfacing with thought leaders, and enhancing efficiency, competitiveness and business opportunities for industry through a range of specialized services and strategic global linkages. It also provides a platform for consensus-building and networking on key issues.

Extending its agenda beyond business, CII assists industry to identify and execute corporate citizenship programmes. Partnerships with civil society organizations carry forward corporate initiatives for integrated and inclusive development across diverse domains including affirmative action, healthcare, education, livelihood, diversity management, skill development, empowerment of women, and water, to name a few.

In its 120th year of service to the nation, the CII theme of Build India - Invest in Development: A Shared Responsibility, reiterates Industry’s role and responsibility as a partner in national development. The focus is on four key enablers: Facilitating Growth and Competitiveness, Promoting Infrastructure Investments, Developing Human Capital, and Encouraging Social Development.

With 66 offices, including 9 Centres of Excellence, in India, and 8 overseas offices in Australia, Bahrain, China, Egypt, France, Singapore, UK, and USA, as well as institutional partnerships with 312 counterpart organizations in 106 countries, CII serves as a reference point for Indian industry and the international business community.

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