New Delhi, July 27 (IANS) The Indian entertainment and media industry will grow by 12.4 percent cumulatively over 2010-14 to reach Rs.1040.8 billion, a report released by PricewaterhouseCoopers said Tuesday.
The Indian entertainment and media industry grew 2.2 percent in 2009 amid severe global downturn, the report Indian Entertainment & Media Outlook 2010 said.
The lower growth was largely due to no growth in advertisement spend in 2009, the report said.
With the recovery in advertisement and consumer spend, the growth in media and entertainment is likely to be in double digits for the projected period, the forecast said.
Timmy S. Kandhari, head of entertainment and media practice, PricewaterhouseCoopers India, said: ‘Many of the factors which caused the slowdown in 2009 are not likely to persist. With confidence returning and a likely increase in consumer and advertisement spends, the entertainment and media industry was looking to get back to its high growth trajectory.’
The projection said the television industry is projected to continue to be the major contributor to the overall industry revenue pie and was estimated to grow at a stable rate of 12.9 percent cumulatively over the five years from an estimated Rs.265.5 billion in 2009 to Rs.488 billion by 2014.
The movie industry was projected to grow at a compound annual growth rate of 12.4 percent over the five years, reaching Rs.170.5 billion in 2014 from Rs.95 billion in 2009.
The print media was projected to grow by 7.4 percent over the period 2010-14, reaching to Rs.230.5 billion in 2014 from Rs.161.5 billion in 2009, the report said.
Given the trends of increased Internet usage, the industry was projected to grow by 20.1 percent over five years and reach an estimated Rs.15 billion in 2014 from Rs.6 billion in 2009, the report said.