Study Mission to India: Entertainment
The final presentation to the Study Mission participants today focused on India’s entertainment industry.
One notable fact: Unlike Hollywood, Bollywood is not a physical area. Instead, it refers to the film industry, which is based in Mumbai. Where India’s overall GDP is expected to grow at 9 percent, the entertainment industry is expected to grow at 18 percent over the next five years. The huge market potential and growth rates are attracting global media giants to enter India. Multiplexes are cropping up; there are more areas to distribute content, which brings rise to more content with more variety; and the retail boom is fueling the need for entertainment.
Challenges for the fast-growing entertainment industry include lack of training. In this industry, which employs 6 million people, there is very limited training. Very, very small numbers of employable talent are graduating from Film & Media institutes. Piracy and content regulation are two more issues facing the industry.
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