The Indian music industry is at the bottom of the list among all media segments in terms of revenue growth projection in the next five years.
Ficci-PwC report says revenue growth projections for next 5 years in line with global trend
NEW DELHI: The Indian music industry is at the bottom of the list among all media segments in terms of revenue growth projection in the next five years.
Business chamber Ficci and consulting firm PricewaterhouseCoopers (PwC), in their latest report on the Indian entertainment and media industry, have said that the music segment would grow by a meagre 2% from 2008 to 2012, against online advertising 32%, animation/gaming 25%, radio 24%, television 22%, print media 14% and filmed entertainment 13% among others.
Incidentally, globally the music industry growth is projected between 2 and 3%. The report will be launched at the annual media event-FRAMES— which will start on March 25.
PWC executive director Timmy Kandhari said although the physical sales of music have suffered, there’s an upswing on the digital part. But “it has not covered the deficit due to loss in physical sales”, he said. Besides piracy, availability of non-stop music across so many FM radio stations could be among the reasons for the decline in music sales, it is felt.
Although the highlights of the report do not mention any breakup of how cable TV and direct-to-home (DTH) would fare this year, the PwC report has projected that DTH would capture 25% of the pay TV homes in India by the year 2012. While the growth projection for DTH has gone up for this year, that for cable TV has dropped, it is learnt.
Online advertising was at the top in 2007 with a growth rate of 69% over 2006, followed by out of advertising at 25%, animation/gaming and radio sharing the next slot at 24%, TV at 18%, print at 16%, filmed entertainment at 14% and music at 1%.
The overall size of the media and entertainment industry is Rs 51,300 crore in 2007, and it is projected to increase to Rs 115,700 crore by 2012. In the corresponding period, television would grow from Rs 22,600 crore now to Rs 60,000 crore in 2012, filmed entertainment from Rs 9,600 crore to Rs 17,600 crore, print media from Rs 14,900 crore to Rs 28,100 crore, radio from Rs 620 crore to Rs 1,800 crore, music from Rs 730 crore to Rs 800 crore, animation/gaming from Rs 1,300 crore to Rs 4,000 crore, out of home advertising from Rs 1,250 crore to Rs 2,400 crore and online advertising from Rs 270 crore to Rs 1,100 crore, according to PwC.
m_nivedita@dnaindia.net
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