Mumbai, Sep 30 (IANS): The private satellite television industry, the catalyst of Indian media and entertainment (M&E) industry's phenomenal growth over the years, is celebrating 30 glorious years of value creation across the nation.
The sector, which was sparked by the launch of India's first private satellite television company, Zee Entertainment Enterprises Ltd (ZEE), has contributed significantly to the nation's liberalisation journey by delivering the best of entertainment experiences for audiences in India and across the globe.
The launch of Zee's flagship television channel, Zee TV, marked the dawn of a new industry in India, one that has generated employment by creating millions of opportunities and developed the creative ecosystem across several local markets.
Over the last three decades, the M&E industry has showcased phenomenal growth and has become one of the fastest-growing sectors in India. Various industry reports have pegged it to clock a CAGR of 10.75 per cent over the next four years, leading the way in immersive entertainment globally.
Amid this, the pioneering steps taken by Zee Entertainment have set trends for the industry to follow. Today, ZEE is not only a well-loved household name, but it also enjoys a formidable position as a global media & entertainment powerhouse with its consumption platforms as the cultural ambassador for Indian content on the world map.
Sharing his thoughts on the occasion, Punit Goenka, MD & CEO, Zee Entertainment Enterprises Ltd, said, "It is indeed a momentous occasion as we celebrate the genesis of the media and entertainment sector in India and acknowledge its contribution in the overall macro-economic development of the nation. This milestone is extra special as the Nation's first home-grown entertainment company, ZEE, also completes three wonderful decades of entertainment and value-creation.
"ZEE's journey over the years can be defined by its sharp growth, its risk-taking ability to constantly tap into newer avenues and its consistent vision to generate higher value for all stakeholders. As we lay the strategic roadmap for the next 30 years, we are gearing up to propel the Company's growth and transform into a formidable player from the emerging markets.
"With our sharp strategic vision across the business coupled with a keen eye on profitability, our endeavor will always be to stay ahead of the curve and enhance the industry's positioning as the most attractive M&E market across the globe."
As an academy of talent for three decades, ZEE has been renowned for nurturing its workforce, and its alumni play a pivotal role in shaping the future of the industry today. On this occasion, several industry stalwarts acknowledged the M&E sector and ZEE's contribution towards making India a formidable economy on a global stage.
Actress Vidya Balan said, "It fills me with pride to note that ZEE -- the institution that gave me a platform to showcase my talent through an iconic show like 'Hum Paanch' -- has completed 30 magnificent years. ZEE has been a sky to a thousand stars and has relentlessly encouraged homegrown talent, irrespective of their background, to achieve their dreams. I hope that the Company continues to remain a beacon of hope for budding talent across the nation and wish the ZEE family all the very best for the journey ahead."
Vallabh Bhansali, a leading investor and co-founder, ENAM Group, stated, "As someone who believes in entrepreneurs as the prime drivers for creating valuable businesses, I have always trusted ZEE's ability to generate consistent returns for its stakeholders. I have been an ardent admirer and supporter of its amazing entrepreneurial journey - from a single channel on a rented transponder to a global media conglomerate. Throughout its journey, ZEE has taken necessary risks and proved time and again its ability to stay ahead of the curve. I congratulate Punit & team for achieving this glorious milestone and wish them all the best for a bright future."
Going forward, the ongoing digital revolution in the sector, coupled with big data and analytics as well as the rollout of 5G in India, is further set to propel the Indian M&E industry in the near future to redefine entertainment across platforms and markets.