According to the Indian Media and Entertainment Industry report, the Indian animation industry grew by 16.5% in 2016, which is expected to reach Rs 23 billion mark till 2020.
The animation industry in India is certainly evolving, witnessing an unpredictable growth in recent times. With global players exploring India for animation content, there is a huge scope for the growth of this industry.
Leading Indian production houses like Reliance and Tata are now investing in the animation market, collaborating with the Indian animators. They are producing animated features, creating mass appeal while entertaining local audiences. Franchisors can consider this as an opportunity where India too can be as huge as the US in terms of animation production in future.
India is believed to have nearly 300 animation, 85 game development, and 40 visual effect studios, hiring over 1500 professionals. With movies like Ra-One and Baahubali, the numbers are expected to increase soon. Franchisors could be seen investing in brands like Frameboxx and MAAC, offering new skills to people.
Indian animators are switching to short animated movies, which are bagging huge success in the current trend. In fact, various industry people can also be seen traveling around the world for prominent film festivals. Ishan Shukla’s Schirkoa is a perfect example of a short animated movie, which won the best animated short award at LA Short Film Festival.
Emphasis on original Indian shows has emerged, is giving rise to many new local characters. Thus, entrepreneurs are looking towards an investment which can provide them success in the animation industry.
With Baahubali being a blockbuster, the animation industry is yet to make an impact in the domestic content category. For studios in India, despite having access to technology, manpower, and infrastructure, the budgets to make quality animated movies is lacking. Additionally, India is lacking in animation education and training. The country requires a guidance center to establish a benchmark for animation education.
With the shifting mindset of viewers, animation holds the potential to develop into one of the most desirable avenues for entertainment and storytelling in India.