Indian media industry to grow by 19 pc to $ 18.9 bn by 2010
10th March, 2006
New Delhi: The Indian entertainment and media
Industry is witnessing a phenomenal growth and is slated to grow at 19 per cent
to US$ 18.9 bn by 2010 from its current size of US$ 8bn, according to a study.
The phenomenal growth in the entertainment and media sector can be attributed to
economic growth, rising income levels, consumerism combined with technological
advancements and policy initiatives undertaken by the Indian government, the
FICCI-PricewaterhouseCoopers study has forecast.
"Two factors that will contribute to the growth of the industry are low media
penetration in lower socio-economic classes and low ad spends..... But efforts
to increase it even slightly are likely to deliver much higher results,"
PricewaterhouseCoopers' Entertainment and Media practice Executive Director and
leader Deepak Kapoor said in a statement.
With an estimated 28 million Indians already hooked on to the internet,
advertisement in India is presently worth US$ 22.5 million With the broadband
slowly becoming popular, the segment would show a compund annual growth rate (CAGR)
of 50 per cent.
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