Louise Duffy ©RapidTVNews | 02-08-2011
India's media and entertainment industry is expected to grow by 13.2% over the period to 2015, according to analyst firm PricewaterhouseCoopers.
Its India Entertainment and Media Outlook 2011 study has found that the industry is expected to reach INR 1199 billion (£16.5bn) by 2015 compared with INR 646.0 billion in 2010. It grew by 11.2% last year, due to improved economic conditions and rebound in advertising spends.
Television, print and film will continue to dominate the country's entertainment and media industry in the foreseeable future. Though there is good growth in digital spends, significant revenues in the Indian E&M industry continue to be non-digital.
Timmy S Kandhari, leader, entertainment and media practice, PwC India, said: "The buoyant advertisement spend will have to be supplemented with subscription growth for sustainable profitable growth in E&M revenues. Addressable digitisation in the broadcast space and focus on good content across sectors will go a long way in achieving this objective."
Over the next five years, the TV sector is estimated to grow at 14.5% cumulatively; it was estimated to be INR 306.5 billion in 2010. The film sector is projected to grow at a CAGR (compound annual growth rate) of 9.3%; it was estimated to be worth INR 87.5 billion in 2010.
Television's market share is thus set to rise from 47% to 50% across the forecast period, although PwC suggested revenues per viewer are still quite modest given its enormous reach.
The surging popularity of the high-definition (HD) format, and the continuing draw of sporting events such as the Indian Premier League cricket, could both aid TV's development, PwC said.