Karnataka would promote the media and entertainment industry growth by encouraging skill development and formulating friendly policies, Chief Minister Siddaramaiah said at a trade conference here.
"We will nurture the media and entertainment industry by encouraging skill-building and initiating dialogue with its stakeholders to formulate progressive and growth-friendly policies," Siddaramaiah said at the first Entertainment Business conclave, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here.
Observing that developing innovative programming content, identifying niche areas and expanding markets through new content delivery platforms would be growth levers, he told about 500 participants that developing mobile applications and websites were the need of the hour.
"The future of the industry will rest on sustaining subscription revenues and creating a firm foundation from them, building on online content qualitatively and giving advertisers innovative ways to reach out to readers," Siddaramaiah said.
Asserting that the industry had opportunities to incubate ideas and explore various business models, he said southern luminaries had placed Indian cinema on the global radar.
As the third largest segment, the Rs 2,680 crore South Indian cinema accounts for half of the total films produced in the country annually, with a 11 percent market share in the entertainment pie.