Indian entertainment industry especially the Indian film industry has reached global heights with the recent achievements of the Indian Film professionals. This is just the beginning of a great era where Indian Film industry will become par with Hollywood industry. In India, Bollywood industry stands at number one position currently with international accolades received frequently. Our Kollywood is not far behind Bollywood. In general, the Film industry is growing at a good rate but in comparison to the previous years, 2008 has had a slower growth. It grew by only 17% ($12.8 billion) in 2008 compared to 23% in its previous year and 19%, which is the average growth rate. But this is just temporary slow down in the growth.
With this general introduction of the Indian Entertainment Industry, a look into its future is analysed. The Entertainment industry includes the Television, filmed entertainment, print and online advertising. The Indian Entertainment Industry is facing a ‘C’ challenge in the present situation. ‘C’ does not stand for “Change” but stands for Consolidation, Corporatization and Convergence.
Consolidation is a topic because the growth has slowed a little. The comparative growth rates mentioned above may not look impressive because it is on the downward slope of growth, but in a global context, they are impressive figures. Usually, consolidation and convergence travel together as they are like two sides of the same coin. Corporatization increases the potential of the industry. This is the current situation of the entertainment industry.
Now looking at entertainment industry as a profession, experts say that there is huge opportunity in this industry but there is dearth of talent and competent work force in this industry. The employability system of this industry needs refurbishment as this industry is not looked as a viable option for a good career. The reality lies in the fact that it is not that there is lack of talent but as said before the current employability system does not help in finding them. Concerns of this industry’s professionals are that India is probably the only country where there are no master-level programmes on media and entertainment. With the growth of this industry, the demand for more sophisticated content calls in for more talent. The Indian entertainment and media industry has enough potential and manpower to meet its needs. However, what is required now is identifying one’s core competence and capability and putting them into that particular activity.
We can see more youngsters entering this industry with the thirst to strive hard and prove themselves in this industry as directors, actors, etc., Well with this sudden increase in the requirement of potential in this industry is seeing an apparent crunch but will ultimately give a boost to the industry. The Indian government should encourage more courses in universities especially master-level programmes for students who wish to specialise themselves in this field. This not only helps the youngsters to pursue what they admire the most but will also help the industry to find the potential people for its demand.
There might be a common misconception that many do not approve, support, or encourage pursuing this industry as a profession. This might have been in the past but the situation is no more the same. More people are willing to pursue their career in this industry and the right kind of encouragement and help from both the industry and the government as mentioned before is what is required more to identify these people.
Hoping for a properous future for this industry....
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