Sector needs introspection: Screwvala

Full realisation of efforts gone into digitisation will only be realised after 2-3 years, he says

 

In his valedictory address on the conclusion of the three-day Ficci Frames event here, DisneyUTV Managing Director Ronnie Screwvala said the 12 per cent growth estimated for the Indian media and entertainment sector was less than the growth in most sunshine industries.

The sector, he added, needed introspection.

Screwvala said film-maker Yash Chopra, who passed away last year, was missed at the event. He lauded Uday Shankar, chairman of Ficci (Federation of Indian Chambers of Commerce and Industry)’s media and entertainment committee, and co-chair Karan Johar for their efforts.

He said while the industry had phenomenon talent for content and commerce, a sliver was slipping away from its hands.

After a wait of 20 years, digitisation was finally happening, and nobody could undermine the efforts made towards this, he said, adding the complete realisation of digitisation, in terms of revenue, would be seen only after two to three years. He said India was the only country where print media was growing.

Screwvala also cited various drawbacks. He said the industry lacked a credible ratings system. “On the ratings system front, it’s completely catastrophic that 70 per cent of the audience is not measured,” he said, adding, “We lack collective voice.” Though innovation and disruptiveness were the need of the hour, the industry was turning complacent, he said. While it was important to know consumers, the need to know what they would require in three years was even greater, he said.

He added the second-TV space was an emerging area. “No one wants a fixed approach anymore and TV is a fixed medium. I think the second screen will be the personal screen — a mobile or a tablet.”