Broadcasting powerhouses Sony and Zee are set to create ripples in India’s media landscape, with the much-awaited merger predicted to take place by September 2023. The announcement was made by Sony Corp CEO, Kenichiro Yoshida, at an annual corporate meeting.
Yoshida foresees the union of Sony and ZEEL finalizing “by the close of the first half of this fiscal year.” This merger is set to supercharge growth in the Indian media and entertainment sectors, capitalizing on India’s vast populace and its pool of inventive talent.
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Yoshida praised India as a “hotbed of creativity,” signaling numerous growth prospects, particularly in the entertainment sphere. Since 2005, India has earned the title of the world’s largest film producer. Yoshida further underlined the young demographic that makes up half of India’s population, who are under the age of 30. Accordingly, sectors like anime and gaming hold immense potential for expansion in India.
Adding to these insights, Sony’s President, COO, and CFO, Hiroki Totoki, mentioned that entertainment promises more opportunities in India compared to electronics, deviating from Sony’s initial focus when it embarked on its Indian venture 25 years ago. This news piece is based on an article from exchange4media.
