Huge potential seen in mktg via entertainment

That India's share in the global media and entertainment market is rising is known.

But when you consider that its share in the $1.2 trillion industry is a minuscule $6 million, the true growth potential becomes apparent. Before becoming global players, domestic content providers and advertisers have to cash in on the local untapped potential.

Speaking at em2, an entertainment, media and marketing forum here, Peter Mukerjea, CEO, Star India, said currently marketing in entertainment was only at 25 per cent of its potential.

Players here are making the most of the opportunities presented by films and television.

Citing the example of Star Wars, which made $2.2 billion at the box office and close to $14 billion through merchandising and licensing, Mukerjea emphasised how Indian filmmakers needed to look beyond the obvious and treat a movie as more than a movie.

The emphasis should clearly be on building brands and leveraging the synergy between brands and content.

Debu Mukherjee, general manager - marketing, Coca-Cola India, felt that while product placements have been around for a long time now, it was important to move from in-film advertising to around-film advertising as the consumer is getting increasingly fragmented.

It is not always easy to get noticed through the constant clutter of messages. Globally, product placement is a $5billion industry.

With the mobile market poised to grow ten times over the next five years, it is anticipated that 40 per cent of the revenues will be from non-voice streams.

Games, music and video clips are likely to be among the fastest growing value-added services.