Highlights of NASSCOM Animation and Gaming report 2008 to be released; Report reflects optimistic mood in the sector despite global recession and operational issues.
NASSCOM, the premier trade body and ‘voice’ of the IT software and service industry in India kicked off its annual 'NASSCOM Animation and Gaming India 2008' today, in Hyderabad. The two-day event has been specifically structured to chart out the vision, set aspirations and identify strategic imperatives to address global opportunities for these sectors in India. Over the years this event has become a premier event for this emerging sector in India, attracting the industry leaders, analysts, observers and media.
Speaking on the occasion Dr. Ganesh Natarajan, Chairman, NASSCOM and Global CEO, Zensar said “We realize that it is critical to nurture the animation and gaming industry to ensure further growth. The fiercely competitive global market place calls for disciplined effort as well as policy measures in this direction. Providing tax breaks and holidays to animation and gaming development studios, setting up education centers, cutting import duty for gaming consoles as well as equipment or software required for game production and setting up special zones to create an entire ecosystem will go a long way in accelerating industry growth "
Mr. Som Mittal, President, NASSCOM, said “The world is looking towards India as a gaming and animation hub and we believe that India is well placed to leverage this opportunity. Indian gaming and animation industry has outpaced the growth rates of its counterparts and the last few years have seen the industry evolve and mature to deliver high international standard projects. Some of the inherent factors that have contributed to India’s rise in the animation and gaming space are availability of the right skill sets, growing maturity of animation studios, increase in number of co-production ventures, development of intellectual property, growing consumer demand from the domestic market and of course, cost attractiveness.”
The highlights of the annual NASSCOM report on ‘Indian Animation and Gaming 2008’ will also be released. This report, by NASSCOM and Ernst & Young provides a detailed insight on the current trends, key growth drivers, issues and future strategies for these sectors. The animation industry in India is estimated to be at USD460 million in 2008 and set to grow at a CAGR of 27% to reach USD1163 million by 2012. The market has been defined as animation entertainment (USD120 million), animation education (USD53 million) and custom content development (USD187 million) and multimedia/web design (USD 100million). The education segment is projected to have the maximum growth rate at about 40% per annum. By the end of 2008, the gaming industry in India is expected to value at USD 212 million expected to reach USD1060 million by 2012 at a CAGR of 50%.
Says Mr. Farokh Balsara, National Sector Leader, Media and Entertainment Practice, Ernst & Young, “With all the groundwork already in place, the domestic animation and gaming industry is on the threshold of growth. With improved skill sets and the ability to develop and produce high quality work, the industry has moved up the value chain.” He further added, “with change in the intellectual property ownership, the rights of animation will be retained by the developers which will enable them to exploit alternate revenue streams such as merchandising and sale on digital platforms.”
Adds Mr. Ashok Rajgopal, Partner, Media & Entertainment Practice, Ernst & Young, “There is an increasing need to broad base the India value proposition beyond the cost arbitrage to include quality production value, high skill sets, better project management, and timely deliverables. There is a need to aggressively pursue the skills agenda. Besides, relaxation of import duties on key hardware and tax rebates can unshackle the industry propelling it into a high growth trajectory.”
Animation Super Pitch
As part of the NASSCOM’s endeavor to promote the creation, development and maturing of the ecosystem of Indian animation industry, the forthcoming NASSCOM Animation & Gaming India 2008, has specially included a session on ‘Super Pitch’. As the ecosystem evolves and the tempo of original content creation increases, for any project to be green lit depends, on how well it is thought through and pitched to the stakeholders’ viz. potential broadcaster/ producer/ distributor.
The objective of the super pitch is to breathe confidence into aspirants who wish to create original content even as your show is exposed to a large audience of stakeholders and decision makers.
About NASSCOM
NASSCOM (www.nasscom.in) is India's National Association of Software and Service Companies, the premier trade body and the chamber of commerce of the IT software and services industry in India. NASSCOM is a global trade body with over 1100 members, of which over 250 are global companies from the US, UK, EU, Japan and China. NASSCOM's member companies are in the business of software development, software services, software products, IT-enabled/BPO services and e-commerce. NASSCOM has been the strongest proponent of global free trade in India.
NASSCOM is committed to work proactively to encourage its members to adopt world class management practices, build and uphold highest quality standards and become globally competitive. In India and around the world, NASSCOM members are participants in the new global economy and are reputed for their cutting-edge business practices and social initiatives.
About Ernst & Young:
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
