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Despite slowdown in the economy, a CII-PwC report has indicated steady growth in the media and entertainment sector in the next five years. The rise in consumer payments and advertising revenues is expected to drive growth of the industry in the coming years, the report said.
According to the CII-PwC outlook, the media and entertainment sector is expected to grow at 18 per cent from 2012 to 2017 to touch the Rs 2,24,500-cr-mark and is slated to grow at a compounded annual growth rate (CAGR) of 18 per cent during this period. The industry grew by 20 per cent from Rs 80,500 cr in 2011 to about Rs 96,500 cr billion in 2012.
“This growth is driven by the introduction of cable TV digitisation, continued growth of regional media, continued strength of the film entertainment sector, fast increasing new media businesses and transparency,” said Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII).
The television and print sectors dominate the industry, with about 40 per cent and 22 per cent contribution, respectively, to revenues in 2012. Internet access now commands about 18 per cent share and films 12 per cent of industry revenues.
The television market grew at 13 per cent, with revenues rising from Rs 34,000 cr in 2011 to Rs 38,300 cr in 2012. The report said it would continue to be the largest contributor and continue to grow on the back of growth in subscription payments and advertising revenues to about Rs 87,200 cr by 2017.
The report states that the television will continue to lead the industry in terms of revenue contribution with 39 per cent share, followed by Internet access with 28 per cent share.
“The share of print and films are likely to decrease 15 per cent and 9 per cent, respectively in 2017,” it said.
Growing digital distribution of films led the growth of filmed entertainment from Rs 9,600 cr in 2011 to Rs 11,200 cr in 2012, an increase of 17 per cent.
“In the world of films, digital distribution has transformed the market, with movies releasing with large number of prints across the country and overseas thereby capturing revenues early and combating piracy,” Smita Jha, Leader - Entertainment & Media Practice, PwC India, said.
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