Talk of the Town Talk of the Town

3. 385 mn millennials, accounting for 65% of total Indian population exhibiting changing media consumption habits and evolving lifestyles. India is spending 80% of its time on mobile phone apps on media and entertainment. Video viewers have increased to 497 mn, i.e., around 94% of smartphone owners and wired broadband subscribers. At 1.5 bn hours, Indians spent amongst the most time on online sports in the world, around a third of global time spent on sports apps. Smartphones are the best source to gather/share information for Entertainment and Media industry. Mobile apps are the most effective elements that give the right solution in a right way. With latest updates and user-friendly interfaces, mobile apps are ruling the entire industry.Startingfromthenewsalertstolivecricketscore to movies and music, mobile apps don’t miss anything. With the advent of mobile apps, a new dimension has beencreatedinthemediaandentertainmentsector.

4. Union Finance Minister Nirmala Sitharaman announced a Rs 4,692-crore outlay for the MinistryofInformationandBroadcasting for 2023-24 as against Rs 4,182 crore in the revised estimates for the last fiscal. Sitharaman has allocated Rs 600 crore to the Broadcasting and Infrastructure Network Development scheme, which seeks to augment the broadcasting infrastructure, particularly in remote areas. The Film and Television Institute of India (FTII) in Pune, an autonomous body under the ministry, has received Rs 64.75 crore in the budget as against Rs 68.53 crore in the revised estimates last fiscal. The Satyajit Ray Film and Television Institute (SRFTI) in Kolkata has received Rs 95.13 crore in the budget as against Rs 60.1 crore and the National Film Development Corporation (NFDC) has received anallocationofRs3,051.5croreasagainstRs2,948.13croreinthepreviousfiscal.