BRING BACK THE AUDIENCE

Entertainment sector needs a Budget breather

THE MULTIPLEX industry is probably the worst hit by the pandemic. Entertainment is a discretionary spend and hence, the industry feels, recovery is going to be a slow process. “We would request the government to come up with an all-encompassing and comprehensive package, much like relief packages doled out by governments in Europe for sectors like tourism,” says Kailash Gupta, CFO, INOX Leisure. Such a package, he adds, would also lend strength to the film industry, which is closely linked with a lot of other businesses. When it comes to gaming, one of the fastestgrowing media and entertainment sectors is also one of the most unregulated ones. The industry says the sector also benefits from the growth of other sectors that are the focus of the government, including semiconductor, fintech, telecom and IoT. “Gaming has the potential to transform the way new India is learning... The sector eagerly awaits a progressive policy structure from the government as well as fair treatment from the GST Council. With proper support, the online gaming sector can give a big impetus to the government’s drive to create a $1-trillion digital economy,” says Bhavin Pandya, Co-founder & CEO, Games24x7. Overall, the entire media and entertainment industry awaits certain reforms, say experts. “We expect a reduction in licence fees for radio (recurring) as the industry has seen a big negative impact due to Covid-19, and some relaxation on licence fees and regulations on the DTH/cable TV industry [are needed] as this segment has started to see cord-cutting trends very selectively,” says Karan Taurani, Senior Vice President, Elara Capital, adding that the industry needs some policies to speed up broadband penetration to drive digital consumption.