Europe-based Italian Entertainment Network (IEN) has entered the Indian market by forming a joint venture with E-Factor Entertainment, aiming a bigger pie in the Rs 6,000-crore domestic events industry.
The joint venture, EFactor-Filmmaster Events, would focus on tourism and events space, specifically targeting sporting ceremonies and permanent installations using state of the art light, sound, video technology, the companies said in a joint statement.
"The coming together of the two leading events agencies will boost India's fledgling events industry, which is pegged at around Rs 6,000 crore and growing at around 20 per cent," it said.
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Commenting on the development, Filmmaster Events COO Andrea Francisi said: "We are delighted to enter India in partnership with E-Factor. While E-Factor is a name to reckon with in the events industry in the country, our joining of hands will usher in a new era to create an events ecosystem that will leave audience spellbound."
E-Factor CEO & Co-Founder Samit Garg said: "Now, along with Filmmaster Events, we will be creating events for tourism, sports and entertainment segments, at a scale that India has seldom witnessed."
Present in 12 countries, FME has 17 Olympic and Paralympic credits. It has major global events as Rio Olympics opening and closing ceremonies besides Torino 2006 opening & closing, London 2012 Flag Handover and many others.
While, E-Factor, a 16-year-old firm, has created, curated and executed more than 100 top of the line social and private events in India and across 15 different countries.
It has recently forayed into the unchartered terrain of large tourism-based events and has created and managed seven such event properties for three different states.
These are namely Pushkar Mela, Udaipur Lake Festival and Mount Abu Winter Fest, Taj Balloon Festival, Awadh Balloon Festival and Amaravati Global Music & Dance Festival.
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