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Ernst & Young Releases Report on Emerging Entertainment Markets Brazil, Russia, India and China
Report released at April 14 National Association of Broadcasters panel on how media and entertainment companies can succeed in BRIC countries
NEW YORK, April 12 -- Ernst & Young today released a report on the media and entertainment landscape in the emerging markets of Brazil, Russia, India and China (BRIC). The report provides an overview of the latest indicators of market attractiveness, as well as the opportunities, challenges and critical success factors in conducting business in these four countries. Coinciding with the release of the report, Ernst & Young's Global Media & Entertainment Center is hosting a panel discussion on April 14 at the National Association of Broadcasters (NAB) conference in Las Vegas.
"Global media and entertainment companies are increasingly focusing on the role emerging markets play in content consumption and creation. Leading global companies that fail to understand and optimize the opportunities in emerging markets may lose out on significant revenue growth," said John Nendick, Global Media & Entertainment Leader for Ernst & Young.
The report, "Tune in to emerging entertainment markets: spotlight on Brazil, Russia, India and China," examines the industry landscape of individual emerging markets. Highlights include:
-- Corporate leaders are spending significant time assessing future
market opportunities in the BRIC countries though currently, some of
the largest media and entertainment companies generate less than 10%
of their global sales from BRIC economies.
-- The number of mobile subscribers in BRIC countries, which have a
combined GDP of US$8.7 trillion, exceed broadband, Internet and
television users, indicating huge potential for mobile entertainment.
-- Brazil is shifting from free broadcast television toward pay
television. When combined with the under-penetrated Internet market,
the country could become more attractive to global media and
entertainment companies.
-- Russian Internet users socialize more than many Western European
countries, creating new digital opportunities for domestic and foreign
media and entertainment companies.
-- In India, there is an increase in the number of channels and adoption
of digital distribution platforms; the country has also become a hot
bed for media content outsourcing and is the largest film-producing
nation in the world.
-- Satellite television subscribers in India, which currently account for
15% of the total 130 million television sets, are set to double in the
next 2 years.
-- Chinese youth are driving higher discretionary spending in
entertainment-related activities. As a result, China is experiencing a
growing purchasing power.
The critical success factors identified in the report include localizing content, thorough assessment of pricing and distribution channels, understanding regional nuances within each country, designing flexible business plans and mitigating business risks. The risks include local competition, fraud, corruption and piracy, ongoing structural and regulatory reforms and the development of corporate governance standards.
"The media and entertainment industry in India has been, and will continue to be, one of the biggest beneficiaries of India's favorable demographics," said Farokh Balsara, Media & Entertainment Leader, Ernst & Young Private Ltd. in India. "Volumes of content consumption, vibrant indigenous content creation and a favorable regulatory framework, make India an attractive investment destination for global media and entertainment companies."
The NAB panel hosted by Ernst & Young's Global Media & Entertainment Center will take place on Wednesday, April 14 from 9:00-10:30 a.m. PDT at the Las Vegas Convention Center. The session, called "Building with BRICs: How Media & Entertainment Companies Can Succeed In Brazil, Russia, India and China," will address how new opportunities bring new challenges, trends in advertising and subscription revenues and the future outlook.
John Nendick will moderate a panel discussion which includes Farokh Balsara; Fernando Bittencourt, General Director of Engineering, Globo TV Network; Chunguang Lu, President of China Television Corp., and Executive Vice President of China International Communications Co., Ltd.; Vladimir Pravdivy, Chief Financial Officer, ProfMedia; and Brian Wieser, Executive Vice President, Magna Global.
About Ernst & Young's Global Media & Entertainment Center
Whether it's the traditional press and broadcast media, or the multitude of digital media, audiences now have more choice than ever before. For media and entertainment companies, integration and adaptability are becoming critical success factors. Ernst & Young's Global Media & Entertainment Center brings together a worldwide team of professionals to help our clients achieve their potential -- a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help our clients meet their goals and compete more effectively. It's how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 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.
For more information, please visit http://www.ey.com
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited.
Source: Ernst & Young LLP
CONTACT: Samantha Sims of Ernst & Young LLP, +1-201-872-1683,
Samantha.sims@ey.com, or Steve Honig of The Honig Company, LLC,
+1-818-986-4300, press@honigcompany.com
Web Site: http://www.ey.com/
Ernst & Young Releases Report on Emerging Entertainment Markets Brazil, Russia, India and China
Report released at April 14 National Association of Broadcasters panel on how media and entertainment companies can succeed in BRIC countries
NEW YORK, April 12 -- Ernst & Young today released a report on the media and entertainment landscape in the emerging markets of Brazil, Russia, India and China (BRIC). The report provides an overview of the latest indicators of market attractiveness, as well as the opportunities, challenges and critical success factors in conducting business in these four countries. Coinciding with the release of the report, Ernst & Young's Global Media & Entertainment Center is hosting a panel discussion on April 14 at the National Association of Broadcasters (NAB) conference in Las Vegas.
"Global media and entertainment companies are increasingly focusing on the role emerging markets play in content consumption and creation. Leading global companies that fail to understand and optimize the opportunities in emerging markets may lose out on significant revenue growth," said John Nendick, Global Media & Entertainment Leader for Ernst & Young.
The report, "Tune in to emerging entertainment markets: spotlight on Brazil, Russia, India and China," examines the industry landscape of individual emerging markets. Highlights include:
-- Corporate leaders are spending significant time assessing future
market opportunities in the BRIC countries though currently, some of
the largest media and entertainment companies generate less than 10%
of their global sales from BRIC economies.
-- The number of mobile subscribers in BRIC countries, which have a
combined GDP of US$8.7 trillion, exceed broadband, Internet and
television users, indicating huge potential for mobile entertainment.
-- Brazil is shifting from free broadcast television toward pay
television. When combined with the under-penetrated Internet market,
the country could become more attractive to global media and
entertainment companies.
-- Russian Internet users socialize more than many Western European
countries, creating new digital opportunities for domestic and foreign
media and entertainment companies.
-- In India, there is an increase in the number of channels and adoption
of digital distribution platforms; the country has also become a hot
bed for media content outsourcing and is the largest film-producing
nation in the world.
-- Satellite television subscribers in India, which currently account for
15% of the total 130 million television sets, are set to double in the
next 2 years.
-- Chinese youth are driving higher discretionary spending in
entertainment-related activities. As a result, China is experiencing a
growing purchasing power.
The critical success factors identified in the report include localizing content, thorough assessment of pricing and distribution channels, understanding regional nuances within each country, designing flexible business plans and mitigating business risks. The risks include local competition, fraud, corruption and piracy, ongoing structural and regulatory reforms and the development of corporate governance standards.
"The media and entertainment industry in India has been, and will continue to be, one of the biggest beneficiaries of India's favorable demographics," said Farokh Balsara, Media & Entertainment Leader, Ernst & Young Private Ltd. in India. "Volumes of content consumption, vibrant indigenous content creation and a favorable regulatory framework, make India an attractive investment destination for global media and entertainment companies."
The NAB panel hosted by Ernst & Young's Global Media & Entertainment Center will take place on Wednesday, April 14 from 9:00-10:30 a.m. PDT at the Las Vegas Convention Center. The session, called "Building with BRICs: How Media & Entertainment Companies Can Succeed In Brazil, Russia, India and China," will address how new opportunities bring new challenges, trends in advertising and subscription revenues and the future outlook.
John Nendick will moderate a panel discussion which includes Farokh Balsara; Fernando Bittencourt, General Director of Engineering, Globo TV Network; Chunguang Lu, President of China Television Corp., and Executive Vice President of China International Communications Co., Ltd.; Vladimir Pravdivy, Chief Financial Officer, ProfMedia; and Brian Wieser, Executive Vice President, Magna Global.
About Ernst & Young's Global Media & Entertainment Center
Whether it's the traditional press and broadcast media, or the multitude of digital media, audiences now have more choice than ever before. For media and entertainment companies, integration and adaptability are becoming critical success factors. Ernst & Young's Global Media & Entertainment Center brings together a worldwide team of professionals to help our clients achieve their potential -- a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help our clients meet their goals and compete more effectively. It's how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 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.
For more information, please visit http://www.ey.com
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited.
Source: Ernst & Young LLP
CONTACT: Samantha Sims of Ernst & Young LLP, +1-201-872-1683,
Samantha.sims@ey.com, or Steve Honig of The Honig Company, LLC,
+1-818-986-4300, press@honigcompany.com
Web Site: http://www.ey.com/