Maintaining its stride to remain a front-runner in leveraging the ever-growing business of animation related sectors and to promote employment to those artistically and technically inclined, the State of Karnataka released its much awaited policy on Animation, Visual effects, Gaming and Comics (AVGC). The Policy was unveiled by Shri B N Bacchegowda, Minister of Labour & Sericulture from C & I Department, Government of Karnataka, today at a city hotel in Bangalore. The event was chaired by Shri M N Vidyashankar, Principal Secretary Department of IT, BT, and S & T of Government of Karnataka. Karnataka is the first State in India which has come out with a separate policy dedicated to AVGC. Karnataka incidentally also has the distinction of being the first state to have come out with the Semiconductor Policy. For the full copy of the Karnataka Animation, Visual Effects, Gaming and Comics Policy click here.
Animation Industry grew at a steady 13% last year to reach INR 1,700 Crore in 2017 and expected to grow at a CAGR of 11% to reach INR 2,320 Crore by 2020.Growth in the animation segment within the M&E industry is driven by:
Indian VFX Industry grew from INR 2,320 Crore in 2016 to reach INR 3,130 Crore in 2017.The Industry is expected to grow nearly double to INR 6,350 Crore by 2020.Where reality meets and blends with the imaginary, it is there that VFX begins. The demand for VFX has been rising relentlessly with the production of movies, animation and television shows set in fantasy worlds with imaginary creatures like dragons, magical realms, extra-terrestrial planets and galaxies, and more. VFX can transform the ordinary into something extraordinary.Have you ever been fascinated by films like Transformers, Dead pool, Captain America, Spiderman, etc.? Then you must know that a number of Visual Effects are used in these films. Now the VFX industry is on the verge of changing with the introduction of new tools, new concepts, and ideas.Source:* FICCI-EY Media & Entertainment Report 2018
“M&E industry consists of print and digital advertising in which Print sector is estimated to grow at Rs.350.4 INR billion in 2018 and digital advertising sector is estimated to grow at Rs.134.0 INR billion in 2018 respectively.Growth led by the digital segment, shows advertising budgets following the changing content consumption patterns of consumersOTT (Over the top) PLATFORMSBy 2020, India expected to become 2nd largest online video viewing audience globally.At Present, India has 30 OTT players including many Global players like Netflix, Amazon Prime , etc.
Digital Advertising led the overall Ad industry growthAdvertisers have shifted their spends to the digital medium, which led to digital advertising now contributing 17% of Total advertising in 2017. The share of Digital Advertising is expected to grow to 22% by 2020. This growth will make Digital the 3rd largest segment of the Indian M&E sector by 2020, overtaking Filmed Entertainment The Digital segment is witnessing multiple investment themes with increase in internet penetration. As a result, there is higher content consumption on digital platforms, with increasing focus on localized content, increasing Ad spends in digital media and increasing consumption of ticketing services online.