Films | Entertainment | Media
About Films | Entertainment | Media
The Indian Film Industry is the largest in the world with the growth of 12% CAGR Y-O-Y. The key growth drivers of the industry are increasing per capita income, growing middle-class population, increasing malls in Tier 2 & 3 cities, collaborations with foreign producers, use of upgraded technology etc. Though the industry looks quite glamorous, it is the one that requires most organized way of working as there as multiple stakeholders involved.
Challenges faced by Films, Entertainment & Media Industry:
Lack of IT Integration:
Films, Entertainment & Media industry involves tremendous coordination between multiple agencies. It involves project planning and project coordination. Most of these things are done manually, which takes away too much of time and lack of accountability amongst the people involved. IT Integration will not only help in optimizing the time involvement but also in reducing the errors and making people more accountable.
Lack of SOPs:
As compared to a project in a company, film making is also a project that should be divided into several steps and tracked accordingly. Most production houses still run in an unorganized way where due to lack of systems & processes in operations, the ROI suffers. SOPs i.e. Standard Operating Procedures are set of instructions that define the process in detail with the key responsible person, the reporting structures and the key performance indicators. SOPs help to track the completion of project at every stage and also help us in identifying the reasons for delay at each step.
Cash Flow Management:
The big numbers that the entertainment industry clock after being released must be equally compared to the kind of time, money and energy they have involved in making it. Film making involves budgeting as per the time lines & ROI which can be achieved only if we go as per the schedule. Cash flows get disturbed due to prolonged schedules & so would the ROI.
Your Retail Coach can help in developing robust SOPs which help the industry to run by the systems & not remain people-dependant.
Growth and expansion are both a necessity and an aspiration for almost every business enterprise. However, irrespective of the intensity of the need for growth and expansion, only a handful of businesses succeed in their expansionist attempts. And every such business...read more
Wholesale businesses reaching out to the retail space should be seen as an aggressive; growth-oriented strategy. There are several positives that arise for a wholesale business when it ventures into the retail space and increases its foothold further down the supply...read more
How Can Celebrities Take Advantage of Their Name to Setup A Retail Brand? Celebrity entrepreneurship is not a rare phenomenon in the world of business, especially retail business. Many celebrities from around the world from diverse fields and professions went on to...read more