Debunking of a downturn myth ; The global slowdown this time has not spared even the entertainment industry, which was believed to be recession-proof.

Here's somethin' that you're never gonna forget. Baby, you ain'tseen nothing yet..., went the lyrics of a popular '70s rock song.Well, delegates at FRAMES 2009, the annual media & entertainment (M& E) industry conclave held recently, weren't exactly crooning theselines, but what many of them talked about the impact of the downturnon their trade, it sounded pretty much like it.

Indeed, what came through at the three-day affair in Mumbai onFebruary 17-19 was the fact that the entertainment industry is,contrary to the traditional wisdom, not recession-proof, and itwould have to live with lower growth over the next few years.

A FICCI-KPMG report on the Indian M & E …