Entertainment and Media Sector to Double by 2017: FICCI-KPMG Report
The entertainment and media industry of India will become twice of its present size by 2017 as per the report released by FICCI-KPMG on 12 March 2013 in Mumbai.
The entertainment and media industry of India will become twice of its present size by 2017, as per the report released by FICCI-KPMG (Federation of Indian Chambers of Commerce and Industry) on 12 March 2013 in Mumbai. An inaugural ceremony of FICCI Frames 2013 was organised in Mumbai. It was announced that entertainment and media industry has a current size of 91700 crore Rupees, which would increase to 166000 crore Rupees by 2017.
FICCI additionally declared that the dominant part of this industry was television. By 2017, newer media segments such as digital advertising, gaming, animation and visual effects will post double-digit growth.
In terms of figures, the projected growth of individual media sector is as follows:
• Television segment, in 2012 accounted for 45 percent of 83100 crore Rupees market. Possibly, the share will increase to 50 percent by 2017 with 84760 crores Rupees of 166000 crore Rupees market.
• Print media, on the other hand, might post an annual growth rate of 8.7 percent and will touch 34020 crores Rupees from 22410 crores Rupees of 2012.
• Indian film industry will grow from 11240 crore Rupees to 19300 crore Rupees in 2017.
• Advertising industry at present is 36200 crores Rupees. At present, the Print Media advertising has a larger share of 44.7 percent followed by television advertising at 38.2 percent. As estimated by FICCI-KPMG, the Indian advertising industry would be worth 63000 crore Rupees with print as well as TV having share of 38-40 percent each.
• Digital advertising at present accounts for 2170 crore Rupees, which will increase to 8720 crore Rupees by 2017.