Mumbai: Since 1997, Promax has honored creativity, innovation, and storytelling in the media and entertainment industry. Given the ‘new normal, they have embarked on a new interesting journey with the first-ever PROMAX INDIA REGIONAL CONFERENCE & AWARDS 2021.
The Indian M&E industry is a sunrise sector for the economy and is making significant strides. The industry has largely been driven by increasing digitization and higher internet usage over the last decade. The Internet has almost become a mainstream media for entertainment for most people. The M&E industry will grow at a CAGR of 13.5 per cent during FY19-FY24. It is expected to reach around US$ 44 billion by 2024.
The OTT market in India is estimated to reach US$ 4 billion by 2025, with subscription services contributing more than US$ 1.5 billion and advertising adding US$ 2.5 billion. This growth is largely because of the deepening digital infrastructure across Tier-II and III cities and further helped by the spike in digital consumption on account of COVID-19, pure-play regional platforms are seeing significant traction.
‘With OTT giants like Zee5 already churning out content in over 10-12 regional Languages, looking ahead with the intent of doubling down, vernacular is, without doubt, the future. This is even more apparent with the establishment of hyperlocal OTT platforms like Stage which focus on regional languages like Haryanvi, Maithili and Magadhi…..I think we can be confident that regional content and vernacular-led OTT platforms will continue to burst upon the scene!’ says Priti Murthy – CEO, OMD India.
‘Promax has always had a very special relationship with India and we have seen the tremendous growth that India has witnessed in the Media space. With 22 official languages, 121 languages and more than 19,500 mother tongues spoken in in India and a population of 121 crores the growth of Regional is phenomenal and will continue to grow particularly the Tier 3 and 4 markets – that are being considered the biggest high- growth areas. Keeping the Rise of regional in mind we are delighted to put together the first ever India Regional Conference & Awards 2021’ says Rajika Mittra – Promax Country Head & Strategic Partnerships (India, Hong Kong & Philippines).
The PROMAX AWARDS are the world’s premier celebration of outstanding achievement in entertainment marketing and design. The Promax India Regional Awards will be witnessing the most outstanding creative works in entertainment, marketing, promotion and design from all regional markets of India across 25 categories.
Join us on Friday, April 30th, 2021 from 2 pm onwards as the biggest names ranging from FMCG to Media take us through their thoughts and insights on the rise of Regional content, grow newer audiences, uncover the latest trends and unfold the new set of rules in the regional story of Media & Entertainment. All this and more from the comfort of your home at the 1st Promax Regional Virtual Conference & Awards 2021.
