MUMBAI: The ongoing boom in the mobile industry that’s providing an impetus to the growth of media and entertainment industries fuelled the talk at the morning session on day at the Ficci Frames convention in Mumbai.
Radio Mirchi CEO Prashant Panday carried the thought forward at the session on ‘Entertainment Industry Honchos Speak!’, by talking about the convergence of mobile with traditional mediums including radio. The role of the traditional medium is going to get bigger in this scenario and the entertainment industry is going to grow at the rate of 18-20 per cent in the coming decade, … he said.
Emphasising on the growth in the industry, he said, It is going to be a painful growth with a lot of money being pumped in for new ventures in the medium. It is going to be a mindless explosion with only a few conglomerates dwelling on viability….
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Panday further emphasised on consolidations as key to the growth of the industry. Consolidations should restrict the media properties rather than increasing their numbers by adding more to the media conglomerates….
The mobile platform is going to fuel the media industry and fundamental audio and visual mediums including social networking sites are going to be delivered differently, believes Panday. Even as the medium of delivery changes, the dependence on the grassroot medium is only going to increase. Although there are many sources of information including clutter over the internet, radio can be relied upon for its credibility….
Foreseeing the growth in the industry, Panday signed off saying, Content is going to be omnipresent and the brand is going to be bigger than the content. We would be reinvesting in brand building and the focus would be on providing value to the consumers….
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