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Entertainment

Digital media powered augmentation of Media and Entertainment (M&E) industry in 2018: Report

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  • The growth of India’s media and entertainment industry was 13.4% to touch₹1.67 trillion in 2018
  • Digital media platforms helped in the expansion which grew 42% to₹16,900 crore in 2018

 Media Industry Digital Media

  • New Delhi: The media and entertainment (M&E) industry of India is a first light sector for the economy and it has been growing annually 13.4 % to touch ₹1.67 trillion in 2018. According to a recent report power-driven by digital platforms that grew 42% to ₹16,900 crore during the period. The M&E sector in India is likely to cross ₹2.35 trillion ($33.6 billion) by 2021, at a compounded annual growth rate of 11.6%, as per the report was given by lobby group Federation of Indian Chambers of Commerce and Industry (Ficci) and consulting firm EY.
  • The strong phase of growth of the Indian M&E industry is supported by growing consumer demand and improving advertising revenues. It has also been increasing due to digitisation and more internet usage over the last decade. The internet has become a mainstream media for entertainment for most people.
  • Digital will carry on its sizzling pace of growth to go beyond filmed entertainment in 2019 and print by 2021, assumed the report titled A Billion Screens of Opportunity, released in Mumbai on Tuesday at Ficci Frames, a yearly media and entertainment industry event.
  • At 570 million, India is ranked as second with having the highest number of Internet users after China. The number of internet users is growing 13% annually and calculated to reach five million by 2021. The report also guesses that around 2.5 million consumers in India use digital media and would not normally use traditional media.
  • Digital ad expenditures grew 34% to ₹15,400 crore and currently comprise around 21% of the ad market. The Indian digital advertising industry is likely to grow at a Compound Annual Growth Rate (CAGR) of 32 percent to reach Rs 18,986 crore (US$ 2.93 billion) by 2020, backed by inexpensive data and increasing smartphone access.
  • Several broadcasters have started merging to sell ads across over-the-top (OTT) and linear platforms to facilitate better monetization of pergola properties and amplified deployment of digital accounts.
  • Different video-on-demand services are worried; advertising growth outpaced subscription escalation and is expected to contain 52% of the total pie by 2021. Digital subscription increased 262% to reach ₹1,400 crore in 2018, as the telecom companies (telcos) giving package content with data packs to impel sales. Likewise, video subscription revenues increased approximately three times in 2018 to achieve ₹1,340 crore (with telcos making ₹350-400 crore out of this), by the support of new and re-initiated video streaming platforms, expansion of smartphones, affordable broadband, regional language and exclusive content, and live streaming of major cricket and other impact properties.
  • Ashish Pherwani, partner and media and entertainment leader, EY India told, “The M&E sector has a significant opportunity given India’s young demographics. The growth of digital infrastructure is further enabling Indians to fulfil the need for personal content consumption, across languages and genre. There is a large shift in consumer behaviour from mass produced content to specific content defined to audience segments.”
  • Additionally, the TV industry rose from ₹66,000 crore to ₹74,000 crore in 2018, at 12% growth and is expected to reach₹95,500 crore by 2021, with advertising growth at 10% and subscription growth at 8%.
  • When TV advertising grew 14% to ₹30,500 crore, subscription grew 11% to ₹43,500 crore in past years. The television viewing households grew to 197 million which is 7.5% more over 2016 with 77% of time on television exhausted on general entertainment content and film channels.
  • The new Trai tariff order has made the viewers happier because now the viewers can choose and pay for specific channels which can have impacts on total viewership, free television uptake, channel MRP rates and ad revenues, according to the report. However, 2019 helps further growth because of the Lok Sabha elections and the ICC World Cup.
  • Print media has the second largest share of the Indian M&E sector, even though being static and rising at 0.7% to reach₹30,550 crore in 2018. It has been seen that last year there was 26% growth in digital news customers over 2017 while 222 million people read news online. Advertising revenues stand at ₹21,700 crore and subscription revenues increased slightly by 1.2% to ₹8,830 crore.
  • When newspaper advertising decreased by 1%, magazine advertising cut10%, due to reduced ad volumes and pressure on success rates.
  • Hindi newspaper publications sustained to lead with 37% of total ad volumes when the share of English publications reached at 25%.
  • The Indian film industry grew 12.2% in 2018 to reach ₹174.5 billion, compelled by the growth in digital rights and overseas theatricals. Domestic film revenues crossed ₹100 billion with net box office collections for Hindi films at ₹32.5 billion—the highest ever for Hindi theatricals. Overseas theatricals rose to₹30 billion from ₹25 billion in 2017 where China became the major international market for Indian content.

“The Indian M&E sector is entering a phase of accelerated growth. The status quo is being shattered by digital disruptions and that’s unshackling the creative economy in India like never before. These are exciting times for all it is to let our imagination and ambition guide us,” said Uday Shankar, vice president, Ficci and chair, Ficci media and entertainment division.

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Entertainment

Report 2018 | Media & Entertainment Acquired Rs.1.67 trillion

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Previously in the year 2018, the Indian Media and Entertainment (M&E) sector acquired Rs. 1.67 trillion ($23. billion) accounting a growth of 13.4 per cent, reported EY-FCCI. Further the report was released at the FICCI 2019 in Mumbai.

Official Vice President of FICCI, Uday Shankar stated, The Indian M&E sector is entering a phase of accelerated growth. The status quo is being shattered by digital disruptions and that’s unshackling the creative economy in India like never before. These are exciting times for all it is to let our imagination and ambition guide us”.

Moreover, the report covers the M&E sector in India is anticipated to account Rs. 2.35 trillion ($33.6 billion) by 2021, registering a CAGR of 11.6%. The demand for television continues to hold the position as the largest segment in the Media and Entertainment industry, however, digital platform is also witnessing lucrative growth to overtake filmed entertainment in 2019 and print by 2021.

Media and Entertainment sector is sustaining to fatten at a rate faster than the GDP, considering the increasing economic growth and disposable income. Discussing the current scenario, the demand for internet is increasingly growing at an exponential rate, after China, India hold the second highest number of internet users with 570 million internet subscribers growing at 13% every year.

The report efficiently delivers that approximately 2.5 million consumers prefers digital media than television. Looping on to the previous statistics and overall Media and Entertainment sector, the consumer base for digital media will promptly grow to 5 million by 2021.

It has also been reported that traditional media companies record an expense in investing their customer data through second-screen interactive propositions, house-to-house surveys, polls & opinions, integration of third-party data and more. Digitalization is impressively winning the consumer needs, thus will witness the monetization avenues with great innovations to cater to the new Indian customer segments. In the digital media, the demand for advertising is also encountering the growth outspaced subscription growth and is anticipated to comprise 52% of the total pie by 2021.

“The M&E sector has a significant opportunity given India’s young demographics. The growth of digital infrastructure is further enabling Indians to fulfil the need for personal content consumption, across languages and genre. There is a large shift in consumer behaviour from mass produced content to specific content defined to audience segments. The sector has an opportunity to serve a billion screens in India and globally,” told Ashish Pherwani and Media & Entertainment Leader, EY India.

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AMB Cinemas enthrall Hyderabad movie-goers with Barco Laser projectors, ushering in a new standard in the cinema industry

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India, January 28, 2019: AMB Cinemas, a joint venture between Asian Cinemas Group and Superstar Mahesh Babu, today announced a partnership with Qube Cinemas and Cinionic, the Barco joint venture providing innovative cinema solutions to theaters. This partnership will bring an elevated movie experience to AMB, delivering exceptional projection quality, bright clear images and an incredible sense of immersion to AMB movie-goers through the addition of Barco’s Flagship Laser Projectors in AMB’s Superplex Theater.

Barco’s Flagship Lasers have been Asian Cinemas Groups choice projection system for its exceptional image quality and simplified installation process. This extended partnership will further the market’s movie experience Barco is known for by combining its superior projection technologies with AMB’s effective ambient design.

Commenting on the partnership, Rajiv Bhalla, MD, Barco India said: “Our strong heritage and leadership in the cinema industry provide us with a real advantage to redefine the future of cinema. With our cinema joint venture, Cinionic, announced earlier this year, we have further cemented our promise of delivering moviegoers true, life-like immersion through bright, sharp images, crisp colors and contrast. As Asian Cinemas takes a giant step forward with its AMB Superplex, Barco remains its partner of choice for our exceptional projection quality and ease of maintenance. We believe that together we are bringing in a refreshing cinema experience for our audiences in the state.”

He further added, “India is a booming entertainment market. However, there are only eight cinema screens per million people which means there is significant headroom for growth to expand our footprint of digital cinema projectors. With over 45% share in the Cinema projector market in India, we are very confident that we will remain the partner of choice for the group even as they follow through their expansion plan of 50 more screens across the region.”

Mr. Bharat Narang, MD from Asian Cinemas said, “In keeping with our promise of delivering the best experience, we are happy to bring to our audience an elevated movie viewing experience with Cinionic. Barco’s state of art projection systems offer stunning visuals, operational flexibility and a promise to deliver supreme cinematic delight to our patrons. The Superplex delivers the moviegoer the best ambience, M-Lounge, super viewing pleasure and many other amenities for a never before seen before theatre experience. We are confident our guests will return to relive this experience time and again.”

 

About Cinionic

Cinionic is transforming cinema, providing comprehensive WOW entertainment solutions to movie exhibitors across the globe. We help turn imagination into reality and ensure peace of mind for our customers by offering innovative services and flexible use of capital for a new era. Combining the technology expertise and heritage of our partners, Cinionic powers exceptional experiences across the entire theater to engage visitors at multiple touchpoints in their cinema journey. Cinionic is a joint venture among Barco, Appotronics, and CFG, with offices in the United States, Belgium, Hong Kong and Mexico. Visit www.cinionic.comand follow us on TwitterLinkedInFacebook or YouTube for more info.

About Barco

Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop visualization and sharing solutions to help you work together, share insights, and wow audiences. Our focus is on three core markets: Enterprise (from meeting and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertainment (from movie theaters to live events and attractions). In 2017, we realized sales of 1.085 billion euro. We have a team of 3,600 employees, located in 90 countries, whose passion for technology is captured in 400 granted patents.

For more information, visit us onwww.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), or like us on Facebook (Barco).

For media queries, please contact:

Aashna Khurana | M: +91 9999000309 | E: aashna.khurana@barco.com

Debaman Guin | M: +91 8527424017 | Edebaman.guin@text100.co.in

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