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After the recent Reliance-Warner deal, JioCinema, the streaming platform owned by Jio, has decided to focus on local content and has made some changes in pricing strategies. This move aims to attract more viewers and make the platform more viable against the intense competition in the market.
JioCinema, which was launched in 2016, has witnessed tremendous growth due to its user-friendly interface and vast library. However, in recent times, the platform has struggled to keep up with the sheer number of competitors vying for a share of the market. The recent Reliance-Warner deal has allowed the platform to leverage the vast resources of Warner Bros. to increase its offerings.
JioCinema’s focus on local content aims to cater to the increasing demand for regional content among the Indian audience. The platform has decided to adopt a tiered pricing strategy to cater to a wider audience. JioCinema will continue to provide free access to its basic offerings, while its premium content will be made available at more competitive pricing. Furthermore, JioCinema has also invested in producing its original content, further increasing its library.
With the Indian entertainment industry seeing exponential growth, JioCinema’s focus on local content has the potential to become a game-changer. As per reports, subscription-based video-on-demand services are expected to grow at a CAGR of 31% in India, reaching INR 39 billion by 2023. This growth trend holds true for local content as well.
In another development, actress Eva Green has won a court case over a fee for a failed film, which could set a precedent for future contract disagreements. Green, best known for her role in “Casino Royale” and “Penny Dreadful,” was pulled from the sci-fi thriller “A Patriot” before filming began due to the production’s delay. However, Green’s representatives claimed that her contract entitled her to be paid regardless of the film’s outcome, which the court upheld.
The case highlights how contract disagreements can have a lasting impact on careers and the industry. Furthermore, it highlights the need for contracts to be comprehensive to avoid such issues in the future.
An advantageous aspect of the Indian entertainment industry is the sheer amount of young and emerging talent present. With various platforms, such as JioCinema, investing in original content, there is a growing need to provide newer opportunities for emerging talent. The industry has begun to recognize the potential of these new talents and offer them opportunities to showcase their skills.
However, breaking into the industry remains a challenge for aspiring actors, directors, and producers. With the industry being competitive, there is a need for those interested in the industry to seek formal education and training from reputed schools and institutes.
Moreover, a high level of determination and continuous learning is often necessary to forge a career in entertainment. The key to surviving in the industry is to understand the audience’s requirements and to succeed through sheer dedication and talent.
In conclusion, while the entertainment industry in India has seen phenomenal growth over the last few years, it is still grappling with a myriad of challenges, including intense competition and contract disagreements. It is upon the stakeholders and regulatory bodies to work together to resolve these issues and create a sustainable business model for the industry. With more opportunities for emerging talent, the Indian entertainment industry has the potential to become a global powerhouse, attracting audiences from across the world.
