The Indian media and entertainment industry stood at
Rs 58,700 crore in 2009, a growth of 1.4% over 2008, said the latest FICCI and KPMG report released at Frames 2010 on Tuesday.
The industry is expected to grow at a compounded annual growth rate (CAGR) of 13% to reach the size of Rs 1,09,100 crore by 2014.
Last year, print showed a very moderate growth of 2%, reaching around Rs 17,500 crore in size. Music, Internet, gaming and animation brought cheer with double digits growth, albeit on a smaller base. Out of Home, films and radio sectors registered a negative growth during the year.
Rajesh Jain, head of media & entertainment, KPMG India said, “The untapped potential for growth in media reach, impact of digitisation and convergence, better consumer understanding, sustained efforts in innovation, and enhanced penetration of regional markets, all augur well for the industry.”
Experts believe the annual 13% rate will be driven by factors such as favourable demographics, expected recovery in the GDP growth rate and increasing media penetration.
“Though console gaming currently constitutes the largest share of the pie, going forward mobile gaming is expected to eventually surpass console games levels. The growth in this sector will be backed by the increase in number of casual and active games, arrival of 3G, availability of localised content, growth in ad funded gaming platforms and greater awareness of products and services,” said Jain. By 2014, the gaming industry is expected to grow at a CAGR of 32% to reach Rs 3,200 crore in size.
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