South India TV sector to grow 20% to 2017
Rebecca Hawkes | 06-11-2013
Digitisation is to drive South India’s television market at a compound annual growth rate (CAGR) of 20% over the next four years, according to a new Deloitte-Ficci report. The region’s media and entertainment (M&E) industry, which is dominated by television (56%), is expected to grow at a CAGR of 16% to reach INR 436 billion by the financial year 2017. Revenues for the industry currently stand at INR 239 billion, with television estimated to account for INR 134.7 billion. The report, titled Media & Entertainment in South India - the Digital March, says the appetite for local language content will drive the growth, along with expansion by media groups that serve the region. “All media platforms viz. films, TV, print and radio are pushing content on the digital medium so as to enhance reach. Not only is the digital medium helping industry players reach wider audiences, it is also enabling them to establish a stronger connect with consumers,” said Kamal Haasan, Chairman, FICCI Media & Entertainment Forum – South. Print accounts for 28% and films for 11% of the market in south India, with high growth anticipated for new media and radio in coming years, particularly with the advent of 3G and 4G mobile services. TV consumption on multiple screens is on an upward trend in the four southern states. As of March 2013, 143 million people in India used a mobile internet service, which is attracting increasing number of local advertisers, said the report.