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

South India Media Summit Season 3 List of speakers (27/7/22)

Mr. Rana Barua, Group CEO, Havas Group India at the South India Media Summit Season 3

CHENNAI, 28^th JULY, 2022 (GPN): 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 advantage of technology, expanding consumer options, and the adaptability of content creators to meet the ever-changing demands and reshape the future of 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. GVivekananda, 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 on 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 visits Puducherry on regular basis, therefore the tourism department is taking lot of efforts 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 the 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 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 is 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 lockdown and is still expected to grow at 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 which 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 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 to the all the visitors to learn about cutting-edge technology, industry trends and discover the best solutions to keep their business and clients secured. Mr. Rana Barua, Group CEO, Havas Group India said, Digital is need of the hour and is the DNA for every business therefore, to expand portfolio strongly we need to keep the essence both on creative and media side. Mr.Rajaraman Sundaram, Business Head Colors Tamil, Viacom 18 emphasized on women coming into mainstream workforce with the belief that in coming 20-25 years , they will redefine the solutions to world’s problems and also emphasized on 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 importance of quality content as it creates positive experiences and is a ticket for capturing audience attention. Other speakers also highlighted on importance of knowledge and to promote the programs and ideas that helps to spread the awareness of knowledge around the world.