Entertainment never had it so big in India. The dynamics of the entertainment market have changed due to an increase in the disposable incomes, and less time to spare. As television grows in size and stature, so do production houses. Any growing industry is an avenue to generate employment. Is this true for the high skill-oriented film and television industry? This paper makes an attempt to determine whether an exponential increase in revenue leads to an increase in employment opportunities.
The
share of expenditure on entertainment in India is increasing everyday. This has
resulted in an exponential growth of the Indian entertainment industry. The launch
of television channels and adoption of innovative formats of entertainment in
films and television has resulted in a quantum increase in film and television
programs. Television has crossed all age barriers and held the interest of one
and all. This has made the entertainment industry one of the biggest industries
in India, generating large amount of income. At
present, there is a demand for talent at all levels in different functional segments.
In the electronic media, the ability and talent of a candidate can quickly lead
him to an impressive career growth and better compensation package compared to
that of any other career.
According
to Entermedia report by CII, "The Indian entertainment industry has the potential
to grow upto Rs. 5,000 cr in the next five years. Currently, India's entertainment
industry is reported to have a turnover of $4 bn. The compound annual growth rate
in the country is 30 percent, while the global rate is 7.5 percent." According
to the report, entertainment industry is the second largest employer in the country,
employing five million people. PricewaterhouseCoopers
in its May, 2005 issue (refer Table 1) of Insights says, "The nation's
entertainment industry is expected to outperform GDP growth by a significant margin
in the coming years. The entertainment industry is experiencing a major shift
in the way entertainment is distributed, with new distribution channels, such
as broadband, Internet access and wireless communications, which are driving significant
growth in the industry. Satellite television and the emerging home video segment
are the other distribution formats expected to help expand the Indian film market
to reach more than Rs. 12,900 cr ($3 bn) in 2009."
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