The Democratization of Entertainment
By Mugddha Dawar
Siddhartha Roy, theChief Operating Officer , Hungama Digital Media Entertainment Pvt. Ltd visited Bennett University on 5th September as a part of ‘Expert Series Lecture’ by the School of Management to talk to the students about the entertainment industry being democratized and how India as a young and growing economy affects it.
Mr. Roy, leads the company’s consumer and business initiatives includingHungama Music, Hungama Play, Hungama Games. He has been the COO and co-founder of Big-ADDA, India’s largest youth network, a part of the Reliance ADA Group and also worked with MTV networks and Star TV India in the past.
“Rural is going into semi urban in terms of the over all GDP growth and there is more deeper consumption that’s happening in urban India because of you having today a choice of your mobile device, your media consumption and data and connectivity is only going to change,” Mr. Roy stated.
The entertainment industry has witnessed a sea of changes in the recent past becoming all the more persuasive due to an unprecedented advancement in technology and increased reach and penetration of media and internet. Thereby transforming the choices of the audience coupled with focus on meaningful content.
Serious amount of content creation is happening due to the presence of a variety of medium, including 850+ tv channels, 9600+ multiplex screens and 637 million internet users. The consumption is at a higher pace within the digital and broadcast environment.
“Today Mr. (Mukesh) Ambani has announced ‘Jio Fibre’ and we’re now going to see a new paradigm change that’s going to start coming on your set top box,” he added.
The Indian music and entertainment sector is expected to grow up to a 2.35 trillion dollar economy over the next five years with a 10-15% growth year and year which is a massive rate in terms of opportunities available.
“Where the world over print has shrunk, in India our print business has also grown in double digit. Which means all forms of entertainment, all forms of digital media in India continues to grow because India is a very young economy. We’re adding a lot of people into the ecosystem.”
With the average TV viewing being 3 hours and 46 minutes per day in a household, 77% of it is consumed as a way of escapism, and not a specific appointment consumption.
Online streaming of music and videos is expected to increase from 325 million to 600 million over the next two years with people ‘watching’ music on YouTube. India is a country with no national language in terms of entertainment and Bollywood has strongly absorbed the diversity, especially Punjabi music which has hooked the listeners to its ‘beat’.
With significant differences in traditional and digital medium, the consumers get personalized and tailored approach to entertainment with greater control over what and when to watch and listen in the latter.
Having talked about the contribution of Hungama Entertainment in the industry in the form of music applications with a deep integration with Redmi ecosystem, online video streaming and a limitless future with 840 million people coming online by 2022, Mr. Roy concluded the session by answering questions from audience members.
Siddhartha Roy, the
Mr. Roy, leads the company’s consumer and business initiatives including
“Rural is going into semi urban in terms of the over all GDP growth and there is more deeper consumption that’s happening in urban India because of you having today a choice of your mobile device, your media consumption and data and connectivity is only going to change,” Mr. Roy stated.
The entertainment industry has witnessed a sea of changes in the recent past becoming all the more persuasive due to an unprecedented advancement in technology and increased reach and penetration of media and internet. Thereby transforming the choices of the audience coupled with focus on meaningful content.
Serious amount of content creation is happening due to the presence of a variety of medium, including 850+ tv channels, 9600+ multiplex screens and 637 million internet users. The consumption is at a higher pace within the digital and broadcast environment.
“Today Mr. (Mukesh) Ambani has announced ‘Jio Fibre’ and we’re now going to see a new paradigm change that’s going to start coming on your set top box,” he added.
The Indian music and entertainment sector is expected to grow up to a 2.35 trillion dollar economy over the next five years with a 10-15% growth year and year which is a massive rate in terms of opportunities available.
“Where the world over print has shrunk, in India our print business has also grown in double digit. Which means all forms of entertainment, all forms of digital media in India continues to grow because India is a very young economy. We’re adding a lot of people into the ecosystem.”
With the average TV viewing being 3 hours and 46 minutes per day in a household, 77% of it is consumed as a way of escapism, and not a specific appointment consumption.
Online streaming of music and videos is expected to increase from 325 million to 600 million over the next two years with people ‘watching’ music on YouTube. India is a country with no national language in terms of entertainment and Bollywood has strongly absorbed the diversity, especially Punjabi music which has hooked the listeners to its ‘beat’.
With significant differences in traditional and digital medium, the consumers get personalized and tailored approach to entertainment with greater control over what and when to watch and listen in the latter.
Having talked about the contribution of Hungama Entertainment in the industry in the form of music applications with a deep integration with Redmi ecosystem, online video streaming and a limitless future with 840 million people coming online by 2022, Mr. Roy concluded the session by answering questions from audience members.
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