India’s entertainment industry worth $14.5 bn

The Indian media and entertainment industry saw an 11-percent growth in 2010 to $14.5 billion and is expected to reach a 13-percent growth this year, according to industry leaders.

“While television and print media continued to dominate India`s media and entertainment industry, sectors such as gaming, digital advertising and animation grew at a faster rate and show tremendous potential,” said the report prepared by consultancy KPMG.

“Overall, the industry is expected to register a compounded annual growth of 14 percent to touch Rs.1,275 billion ($28.3 billion) by 2015,” said the report, commissioned by the Federation of Indian Chambers of Commerce and Industry (FICCI).

The full report is scheduled to be released during the FICCI-Frames annual conclave on media and entertainment, scheduled in Mumbai March 23-25 at the Renaissance Powai, with Canada as the partner country.

Following are the key highlights of the report:

Television:
– Television households to surge to 156 million by 2015
– Digitization and addressability to go mainstream
– Advertising revenues to touch $4.5 billion
– Subscription revenues to touch $9.25 billion

Print:
– Overall print industry to see annual growth of 10 percent
– Revenues to touch $6.9 billion in five years
– Regional print expected to grow at a higher rate of 12 percent

Radio:
– Scale of industry expected to increase manifold
– New regulation expected in regulation and royalty structure
– Industry expected to grow at 20 percent per annum and become profitable

Films:
– Past year challenging for the industry
– Correction expected with multiplexes, research and cost rethink
– Industry expected to grow to $2.9 billion by 2015