Media & Entertainment industry to grow at 18%: Report

The media and entertainment industry is expected to exceed Rs 224,500 crore by 2017, growing at a CAGR of 18 per cent from 2012, industry body CII and PricewaterCoopers said in a joint report. 

Although the broader Indian economy experienced moderation in its growth rate, the industry has continued its strong growth momentum highlighting its latent potential of beating the economy. The ongoing proliferation of digital platforms has been a key enabler for this growth.

The size of the Indian M&E sector increased from about Rs 805 billion in 2011 to almost Rs 965 billion in 2012 representing an year-on-year growth of 20 per cent. 

Smita Jha, Leader Entertainment & Media Practice, PwC India, said, "With increasing proliferation of digital platforms, industry participants will need to invest in constant innovation that encompasses products and services, business and operating models and most importantly, consumer experience and engagement. Innovation should be seen as an important enabler to get closer to consumers and profitably deliver relevant content and services.”

Nonetheless, widespread adoption of digital platforms will also increase challenges for E&M players as consumer behaviour will change significantly due to greater choice and control on offer. Further, traditional barriers among types of industry players will start to disappear, leading to jostling for favourable competitive positioning. Which is why, as Jha emphasised, innovation will be the key differentiator.

The new normal of digital distribution in many key industry sectors will compel industry participants to invest in constant innovation across the entire lifecycle of content production, management, delivery and monetisation. Innovation, driven by consumer insights as well as technological enhancements, and operational agility will be important enablers for getting closer to consumers and profitably delivering relevant content and services.

India's television market grew at 13 per cent with revenues increasing from Rs 340 billion in 2011 to Rs 383 billion in 2012. Filmed entertainment also demonstrated growth in 2012 with sector revenues increasing by about 17 per cent from Rs 96 billion in 2011 to Rs 112 billion in 2012. The print sector revenues are expected to increase at over 9 per cent CAGR to reach Rs 331 billion in 2017 from Rs 212 billion in 2012.

Source: http://cablequest.org/news/national-news/item/3186-media-entertainment-industry-to-grow-at-18-report.html
Source: http://cablequest.org/news/national-news/item/3186-media-entertainment-industry-to-grow-at-18-report.html