Entertainment industry is growing at rapid rate and is estimated to expand at 20 % over the next coming years. Entertainment sector comprises of radio, TV, music, newspaper, Animation, video game, film, etc. Government initiatives such as TV digitalization will further drive more revenues. By years 2020, entertainment industry may worth US $ 45 billion (approx.), in fact, changing lifestyle and increasing urbanization is fundamental reason for such huge development. People love to have fun after hectic daily life routine activities.
Few facts about entertainment sector
- Television market is expanding rate at current scenario and is second largest on global platform
- Bollywood is world’s largest film industry in terms of films made and also revenue generation
- Overall entertainment market is at fifth position
- Largest newspaper market
Although entertainment franchise sector is still in nascent stage in India, major growth see in developed countries like USA, Russia, UK and China. Undoubtedly India is one of the biggest markets in terms of size terms of size but there are few challenges faced by operators from tier 1 and tier 2 cities, they are still deprived of technology benefits. The sector is currently facing challenges, for instance, film industry is affected by copyright issues. Despite few challenges we can’t deny the fact that entertainment industry is big source of revenue for Indian government. Entertainment franchise sector is also burgeoning, own a franchise to offers entertainment and fun time would profitable as compared to various businesses. For example, you can own a kids zone, multiplex, recreation centre, etc. moreover there are changes observed in video games, casino, distribution and television sectors. Technological advancement is fundamental reason behind huge changes in above mentioned sectors. Digitalization completely transforms whole entertainment industry, now it become easy to watch film on high definition screens. Entertainment sector is at sunrise stage and is poised for unprecedented growth.
Franchise business opportunities in India exist in sectors viz. Beauty and salon, food and drinks, health and fitness, business services, apparels, computer and internet, entertainment, retail, education and training, jewellery and florist. Among all, entertainment franchise grew rapidly in the country and has gradually expanded to cover segments like sports, kids playing station, clubs, video games, amusement centre and so on. For example, if you are sports loving person and want to explore business opportunities then you can become an owner or co-owner of any cricket, football or basket ball team. In present scenario, franchise business opportunities are gradually shifting as compared to 15 years back when India’s only, Franchise Association of India, was established in year 2001. It is not-for- profit organization, taking charge to control franchising in India.
Approximately 4500 franchise brands are successfully operate in India. Despite economic troubles, Indian entertainment and media industry is growing at a good rate, valued to 20 billion in 2016 and projected to touch US $ 50 billion by end of 2019. Bollywood industry category under entertainment industry is growing exceptionally. Everyone year billion dollar revenue has been generated. In this context, reliance media works, PVR, carnival and other high profile brands have made their entry valuable as millions of people mesmerized by watching movies at these destination. If you are interested to become an owner of any entertainment franchise, first explore various companies operate in subcategories then did market research. If you are confused then franchise consultants will also help.
Entertainment and media industry is a never sector, every year various innovations have reshaped whole industry. With increasing well designed revenue models in entertainment space, starting new project is quite easy. Entertainment and media practice around the world is utmost importance for the society as well as business. Thus in coming years, number of entertainment franchise brand will made entry into Indian market.
Plenty of options are available for consumers to entertain them. As the media and entertainment industry in Indian is growing at a rapid rate at a compound annual growth rate of 14.3 per cent, estimated to cross a large milestone in terms of revenue. An outstanding amount account for Rs. 2.26 trillion would have been crossed by 2020. Television, print media and other segments has witnessed phenomenal growth in past two years. In addition, the determining factor that plays keen role in development of recreational industry is leisure time. Entertainment has turned out to be fruitful sectors for entrepreneurs because income of middle class has increased as well as more time available for recreation and leisure.
Economic development is essential for entertainment franchise to grow. India is one of the fastest developing economies so market has shown high potential. Moreover, increasing demand for graphics, VFX and 3D hall led to
the creation of much anticipated entertainment industry. In recent time number of national and international brands has offered substantial services in the creative industry. Video games, kids zone, sound and music recordings, motions pictures, online videos, etc. are accounted for one of the fastest and biggest economic sectors. Organizations engaged in recreation industry have tightened belts due to continuous entry of new comers. Day-by-day gleaming industries like Bollywood and Hollywood have urged engineers and technicians to develop robust applications that support high graphics. Dramatically a wave of creative industry is blowing in India. With a population of 121crore India has figured as best destination for investment. In forthcoming year’s media and entertainment franchise will certainly rising high by indulgence of latest technology. Thus organizations have continuously upgraded their services to deliver best to the consumers. Tier 1 and tier 2 cities shining with presence of several modern creative industry players.