New Delhi, Nov 17 (IANS) The global economic meltdown will not impact the entertainment industry, those associated with the sector say.
“Entertainment is recession-proof. It does well both in good and bad times," Rajjat A. Barjatya, managing director of production house Rajshri Media, told IANS during Focus 2008, the two-day second annual global entertainment and media summit that began here Monday.
"In fact, there has been an increase in the content consumption during the slowdown, as people want to come out of the economic trauma and turn to entertainment as an escape from reality. Films are escapist and aspiring and that makes them recession-proof.” he said.
Barjatya, however, conceded revenues had taken a hit. "Business-wise, we have seen a drop in our advertisements revenue but not on the content consum