P K Madhavan, Country Manager and President of the Walt Disney Company India and Star India, has stated that policymakers must develop a single national policy for the media and entertainment sector that is coherent, provides broad direction to the industry, and provides greater clarity for both the industry and regulators. "With participation from the industry, this new National Policy could serve as a guide for regulators for years to come, ensuring that consumers, the sector, and other stakeholders have equal access to certainty and clarity. Digital streaming has altered global consumption patterns, and our vibrant Indian content has the potential to have a significant global impact if we receive the necessary support from policymakers and regulators "In his opening remarks at the CII Big Picture Summit 2021, Madhavan, who is also the Chairman of the CII National Committee on Media & Entertainment, said this.
Despite the fact that the broadcasters are fighting the Telecom Regulatory Authority of India (TRAI) in court, Madhavan claims that laws such as New Tariff Order (NTO) 1 and 2 do not address the interests of any stakeholders, including customers. In the presence of TRAI Chairman Dr. PD Vaghela and MIB Secretary Apurva Chandra, he delivered these statements. "Given our industry's strength and influence, it's critical that we be allowed to develop freely with the ability to self-regulate. In India, self-regulatory groups for both television and digital have proven that they can efficiently handle complaints and issues without the intervention of policymakers and regulators. Regulations such as NTO 1 and 2 did not take into account the needs of any stakeholders, including customers "Madhavan explained.
Simultaneously, he noted that the new TRAI Chairman, Dr. PD Vaghela, and his colleagues are taking a keen interest in addressing the industry's issues as soon as possible. "We expect the regulator to take a more proactive and positive approach. To avoid stifling the industry, light-touch regulation is required."
The CEO of Star and Disney India highlighted that ten years ago, customers were switching to digital television, and HD channels were only being released. Furthermore, there were only about 13 million broadband members, and individuals only spent about 8 hours per month watching movies on the internet. "Today, there are around 800 million broadband internet users and 600 million smartphone users in India, and Indians watch more than 5 hours of online video content every DAY, compared to the global average of four hours. India is a digitally active nation with a large and diverse consumer base with a strong desire for entertainment "Added he.
He also stated that the television industry already produces 2,500 hours of original material for OTT each year, in addition to the 100,000 hours produced on television. According to him, the gaming industry serves 420 million casual players, while the AVGC sector produces high-quality, cost-effective content for the worldwide market. "We're offering customers the freedom to watch any material they choose, regardless of platform, language, schedule, or location. Technology has enabled us to prioritise the convenience of the user and serve content according to their preferences. In addition to directly and indirectly employing 4.5 million people, the M&E business promotes India's soft power around the world. As the Creative Economy expands, ancillary businesses such as education, tourism, and even software are stimulated "Madhavan made a point.
He also stated that the CII, in collaboration with the Indian government, will attempt to represent India at all major film festivals in the coming year. "The CII's Big Pitch for the industry is to project India's Media and Entertainment industry's influence around the world. Following the IT sector, the M&E sector has the ability to impact the lives of a billion people by creating original content that has a worldwide appeal and touches the hearts of people all over the world. There should be a large-scale push to persuade everyone that India is capable of creating. This motto, this chant, has the potential to be our message to the rest of the world."
