South India Media and Entertainment to contribute more than 50% to the overall 7.5 lakh crore industry by 2030
L to R – Mr. Rajaraman Sundaram, Business Head – Colors Tamil, Viacom18; Mr. Bharath Viswanathan, COO, Fourth Dimension Media Solutions Pvt Ltd; Mr. Rana Barua, Group CEO, Havas Group India; Dr. Kailash Katkar, MD & CEO, Quickheal Technologies; Dr. Rajamani, CEO, New Generation and New Era Media; Mr. Venkatesh Vijayaraghavan, CEO, CavinKare; Mr. Shankar B, CEO, Fourth Dimension Media Solutions Pvt Ltd
Chennai, Aug 2: The 3rd Edition of a comprehensive knowledge-driven conference, South India Media Summit 2022, commenced today at at Taj Coromandel, Chennai, as India looks to accelerate its transition to digital media and reduce its reliance on traditional media. Steering this vision, the summit has ably contributed to advancing South India Media’s transformation journey. The summit emphasized on the advantage of technology, expanding consumer options, and the adaptability of content creators to meet the ever-changing demands and reshape the future of the media and entertainment sector.
The inauguration of South India’s iconic Knowledge summit took place in the presence of key dignitaries such as Chief Guest Mr. Alukkas Varghese Joy, Managing Director of Joyalukkas India Ltd and key dignitaries such as Shri. L. Murugan, Ministry of Information and Broadcasting, Ministry of Fisheries, Animal Husbandry and Dairying, Govt. of India, Mr. K. Lakshminarayanan, Minister of Fisheries and Fishermen Welfare, Public Works, Tourism and Law, Govt. of Puducherry, Dr. G Vivekananda, Chairman, Visaka Industries Limited, Mr. Venkatesh Vijayaraghavan, CEO, CavinKare, Mr. Rana Barua, Group CEO, Havas Group India, Mr. Vinoth Vasanth, MD, Vasanth & Co, Dato’ K. Saravanan, Consulate General of Malaysia, Chennai, Mr. Rajaraman Sundaram, Business Head Colors Tamil, Viacom 18, Mr. Johnson, MD, Sathya Agencies., among others.
Highlighting the importance of media, Shri. L. Murugan, Ministry of Information and Broadcasting, Ministry of Fisheries, Animal Husbandry and Dairying, Govt. of India, said, “India has more than 906 TV satellites. Apart from that, there are several 24 hours news Channels. Media plays a vital role in keeping us informed about the issues that matter to us, and with this important role comes responsibility. The media must operate in an ethical and responsible way and should not affect the judicial/ democratic system of the country. Media should be seen as an enabler and play a progressive role for a democratic nation.”
Underlining the dream of Puducherry Mr. K. Lakshminarayanan to make Puducherry an attractive tourist destination, said that “the Puducherry government is taking all positive steps to help the businessmen to have their foot in Puducherry. We are proud that all brands available in the country are also present here. A total of 2 lacs commuters visit Puducherry on a regular basis; therefore, the tourism department is taking a lot of effort to develop the place. To attain the desired goals in a short time, I believe that the summit organized by Fourth Dimension will be very helpful to everyone. It has brought everyone together, and with various deliberations, the summit will redefine the media landscape with the focus on the hub of South India.”
Speaking on occasion, Mr. Shankar, CEO of Fourth Dimension Media Solutions Pvt Ltd, said, “The media and entertainment industry anticipates explosive growth due to tectonic shift through right digital interventions. The government initiatives/reforms and surge in demand have kept the media and entertainment industry on a strong growth trajectory. The Indian media and entertainment industry is expected to grow at a CAGR of 8.8 per cent and reach Rs 4.30 lakh crore by 2026, with South Indian media contributing 35% to the overall media and market share. South India Media Summit, once again through its 3rd edition, has taken a step to drive the media and entertainment industry and move towards a truly digital environment. We are glad that the conference, South India Media Summit 2022, will chart out the roadmap for the contribution of more than 50% revenue to the overall media and entertainment industry and reach Rs 7.5 lakh crore industry by 2030”
The South Indian streaming and digital media market are anticipated to increase at a CAGR of 25% and reach a valuation of INR 16,200 crore. The animation, visual effects, gaming, and comics (AVGC) segment is the fastest growing at a CAGR of 30% and is expected to contribute to 10% of the overall growth of the South Indian entertainment and media industry by 2030. The South Indian film industry is set to grow at a CAGR of 13%, amounting to INR 6,000 crores, while the print industry will amount to INR 9,900 crore by the end of the year. The OTT and social media platforms have seen immense growth during the lockdown and are still expected to grow at a CAGR of 30% annually. In addition, the integration of ‘metaverse’ will also ensure that the industry grows exponentially in the future. Effective implementation of the knowledge gained and discussions held during the summit will definitely bolster the growth and help achieve the ambitious goal set for 2030.
The incredible support received from the Ministries, Government Departments, and top Industry Associations many more accelerated the transition to a more resilient and sustainable media industry while also harnessing investment, employment and other opportunities. This sector is estimated to employ as many as 16 million people by 2030, directly or indirectly. The great importance that the industry is placing on emerging trends was reflected in a power-packed program.
Despite challenges, this industry is optimistic, and the southern states (Karnataka, Kerala, Tamil Nadu, Telangana &Andhra Pradesh) all host the media and entertainment sector through South India Media Summit 2022 in a big way and, making it a compelling networking destination. Initiatives like this further encouraged the stakeholders to foster and cheer a digitally empowered India and bring significant change in this domain with ground-breaking innovations.
South India Media Summit organized by Fourth Dimension Media Solutions information and opportunities for all the visitors to learn about cutting-edge technology and industry trends and discover the best solutions to keep their business and clients secure. Mr. Rana Barua, Group CEO, Havas Group India, said, Digital is the need of the hour and is the DNA for every business; therefore, to expand our portfolio strongly, we need to keep the essence both on the creative and media side. Mr. Rajaraman Sundaram, Business Head Colors Tamil, Viacom 18, emphasized women coming into the mainstream workforce with the belief that in the coming 20-25 years, they will redefine the solutions to the world’s problems and also emphasized two points that post-pandemic people are seeking light-hearted content and there is need for empowering positive themes. Dr. Kailash Katkar MD, CEO, Quickheal Technologies, focused on the importance of quality content as it creates positive experiences and is a ticket for capturing audience’s attention. Other speakers also highlighted on the importance of knowledge and promoting the programs and ideas that help to spread the awareness of knowledge around the world.
About Fourth Dimension Media Solutions (P) Ltd.
Fourth Dimension Media Solutions (P) Ltd. is India’s largest media outsourcing company, which is now a decade old. It is a part of the SRM group, One of South India’s Biggest Business Conglomerate. We are a team of young and dynamic professionals with the utmost passion for Selling. The team possesses a good understanding of the Southern India Market, which is predominantly the priority market for most of the brands that we advertise. We are an extremely professional unit with National connect. We are an organization with the best sales professionals, spread across the country. We have our corporate office at Chennai and branches in Mumbai, Delhi, Bangalore, Coimbatore, and Trichy.