New Delhi: The Appointments Committee of the Cupboard has authorized the extension of Vikram Sahay as joint secretary of the knowledge and broadcasting ministry for a interval of two years past 23 Could till additional orders, an official assertion mentioned.
The Indian media and leisure trade will doubtless develop at 11.5% in 2023 to achieve ₹2.34 trillion ($29.2 billion), after which clock a compounded annual development charge of 10% to hit ₹2.83 trillion ($35.4 billion) by 2025, in line with the annual media and leisure (M&E) report by Ficci and consulting agency EY.
In 2022, the section grew by ₹348 billion (19.9%) to achieve ₹2.1 trillion ($26.2 billion), a ten% enhance over pre-pandemic 2019 ranges.
The report signifies that every one M&E segments, aside from TV subscriptions, skilled development in 2022. Digital media led the pack with a development of ₹132 billion, rising its M&E sector contribution from 16% in 2019 to 27% in 2022. Together with information prices associated to digital consumption, digital media’s share of the M&E sector would rise to 50%.
Tv broadcasters, movie producers and authorities officers have lengthy been of the opinion that the media and leisure trade, that has served as a way of soppy energy for the nation and confronted immense disruption over the previous year-and-a-half of the pandemic, must be regulated with a light-touch method.
One other necessary ask from policymakers is for a single nationwide coverage for the media and leisure sector which is coherent, captures the trade’s aspirations and brings in higher readability for the trade and regulators, going ahead.
At a latest occasion, Apurva Chandra, secretary, ministry of knowledge and broadcasting, had agreed the federal government believed in light-touch regulation and performing as a facilitator. “Many consider the (M&E) sector is extremely regulated however we’ve got at all times been open,“ Chandra had mentioned, referring to the sturdy development of digital and OTT platforms, particularly throughout the pandemic.
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Up to date: 22 Could 2023, 12:19 PM IST
Supply: Live Mint