Media CEOs seek light-touch norms; Trai defends reforms

FICCI FRAMES SUMMIT

- VIVEAT SUSAN PINTO

MEDIA VETERANS on Tuesday underlined the urgency of a “light-touch” approach to regulation, saying that the burden of compliance was stifling innovation and growth.

The comments, made at the inaugural session of the two-day Ficci Frames Summit in Mumbai, come at a time when the domestic media and entertainment sector—valued at %2.5 lakh crore—is slated to touch %3 lakh crore by 2027, growing at 7% perannum.OTT users have surpassed the 600-million-mark, even as TV homes stand at about 190 million.

"Forbearance is something we have always advocated, and ifweare to realise our ambitious growth vision, self-regulation and industry best practices must guide the way,’ Kevin Vaz, CEO-entertainment, JioStar, and chairman, media & entertainment committee, Ficci, said.