In India , Television is the major segment of entertainment industry. Presently, India has the third largest television market in the world behind only china and the USA. Today, television reaches about hundred million of Indian households. In the past two decades entertainment industry in India has witnessed explosive growth. In television alone, from a single state owned television network, Doordarshan in 1991, today there are over 300 national, regional and local channels being beamed across the country. Â Various sectors in India like Property business, Railway, IT Industry, Private sector and many more sectors are adversly affected by Global recession. Unfortunately, our entertainment Industry is also badly hit and affected by the global recession especially the Television Industry.
Global recession has not only denied the well paid jobs to the deserving candidates but those who are holding to their jobs are denied of their deserving dues or the salaries. Indian television industry is no exception and recession has hit the workers employed in the Indian Television Industry. Â According to the information gathered from the genuine sources, almost thousands, have not been paid their remuneration for the hard work they have put on the sets of the Television serial — reality or fictional.Â The situation is very grim as there is less work than before and those who are working are not getting paid.Â Sponsors are running away and advertisements are drying up in this recession hit market.Â Popular serials are going off the air and almost for five -six months the workers are not paid their salaries.Â In India the channel which seems to be affected the most is 9X and most of the soaps of this channel are out of air.
As a matter of fact, a very popular serial on Zee TV Saat Phere has slow down as their is a serious financial crisis and in order to reduce the number of actors the story line has been changed drastically. Some characters are killed, one of them was sent to the mental asylum and so on. The real life scene is more Â tragic and emotional compared to Â the reel life scenes in these serials in the Â present circumstances. Even the most popular channels like Â Star plus, zee, Sahara one and many more are suffering due to the economic slow down.
In current recession Â times, where people are losing jobs and getting enough time to watch TV, they will seek entertainment at home and hence advertising revenues will increase for the commercial channels. It will be difficult for the production houses to bargain with the advertisers, Also businesses like production of religious texts and religious materials, religious channels will do well. The TRP of religious channels will increase compare to the other entertaining/commercial channels.
According to a report published by the Federation of Indian Chambers of Commerce and Industry (FICCI), the Indian M&E industry is expected to grow at a compound annual growth rate (CAGR) of 18 per cent to reach US$ 23.81 billion by 2012. According to the PWC report, the television industry was worth US$ 5. 48 billion in 2007, recording a growth of 18 per cent over 2006. It is further likely to grow by 22 per cent over the next five years and be worth US$ 12. 34 billion by 2012.