Indian TV revenue rises to $6.9BN as E&M industry stays buoyant
| 19 September 2014
India's entertainment and media (E&M) industry is predicted to reach INR2,272 billion (US$37.38 billion) by 2018, with a compound annual growth rate of 15%, according to a report from PwC and industry body CII.
Television remains the largest sector of the E&M industry, with revenue increasing from INR366 billion ($6 billion) in 2012 to INR420 billion ($6.9 billion) in 2013, representing year-on-year growth of around 15%.
"This growth was led by an increase in subscription revenue, driven by the ongoing process of [nationwide cable TV] digitisation," the PwC Entertainment and Media Outlook 2014 report said.
The TV market is expected to continue its robust growth to reach $14 billion (INR846 billion) by 2018 at a 15% CAGR. At this point, its revenue contribution is predicted to be around 37% of the nation's entertainment and media industry.
Within the E&M industry in India, internet access and Internet advertising have been the fastest growing segments, with annual growth rates of 47% and 26%, respectively. By 2018, Internet access is expected to emerge as the second-highest contributor with a 29% market share, up from 22% in 2013.
The projected growth for the industry has lessened to 15% from the 18% projected last year, for the five years until 2017. Even so, this growth bucks the general economic trend in India.