Chief Minister MK Stalin inaugurated the Confederation of Indian Industry (CII) Dakshin – South India Media and Entertainment Summit on Saturday and assured the industry of the government’s full support. State, including infrastructure modernization.
In his keynote speech at the two-day summit at the Chennai Trade Centre, he said many young people are interested in films. Therefore, films that encourage progressive thinking should be made. While welcoming awareness messages about the harmful effects of smoking and alcohol in movies, Stalin called on the film industry to also raise awareness about the harmful effects of gutka and other drugs.
In her welcoming remarks, Suchitra K. Ella, President, CII Southern Region and Co-Founder and Co-CEO, Bharat Biotech International Limited, said that all industry verticals have rebounded from the pandemic.
Mr. Stalin also released a report titled “Regional is the New National – The Way Forward for South India’s Media and Entertainment Industry”. According to the report, South India’s media and entertainment sector had a market value of around ₹70,000 crore.
The South Indian film industry market is expected to be worth ₹6,050 crore by the end of 2022 with a compound annual growth rate of 13%. South India’s print industry market value would be ₹9,900 crore by 2022, with radio, digital, OTT and music following close behind, he said. added.
With a compound annual growth rate of 25%, South India’s streaming and digital media market is expected to be worth ₹16,200 crore by the end of 2022, nearly two and a half times film revenue , according to the report.
Emerging 5G technology would open up even more growth opportunities in South India, allowing it to serve a global market with huge commercial potential, according to the report.