FICCI-KPMG REPORT SAYS THE INDUSTRY IS EXPECTED TO TOUCH RS 1.16 TRILLION IN 2015, LED BY A 44% GROWTH IN DIGITAL MEDIA. THE REPORT FURTHER STATES THAT TELEVISION INDUSTRY IN INDIA,WHICH IS ESTIMATED AT RS 475 BILLION IN 2014, WILL GROW AT A CAGR OF 15.5 PER CENT TO REACH RS 975 BILLION IN 2019.
The Indian media and entertainment industry is projected to grow at close to 13% in 2015 over the previous year with television growing at a robust 14.46%, print at 8% and digital at 44%, taking forward the growth of these sectors in 2014. The total media and entertainment industry, including print, television, radio, outdoor, digital, animation, gaming and music, is expected to touch Rs.1.16 trillion in 2015. The projections were made by the FicciKPMG Indian Media and Entertainment Industry Report, 2015, released at Ficci Frames last month. Ficci Frames is Asia’s annual global convention on the entertainment and media business.According to the report, 2014 was a turning point for the media and entertainment sector as it saw the building blocks for future growth being laid including the new spectrum for mobile, ongoing digitization in the cable sector, consolidation in the film exhibition business and announcement of the phase III auctions for private FM radio.“We hope that 2015 will ensure flawless and timely execution of these policies making it a landmark year for media and entertainment industry,” said Jehil Thakkar, head, media and entertainment at the consulting company KPMG.The media sector is also taking a cue from the current government’s optimistic outlook and positive business sentiment strengthened by a number of growth promoting policy initiatives taken in the recent months, the report observed. In 2014, digital media threw up a surprise with a significant 44.5% growth. Digital advertising, which was Rs.4,350 crore in 2014, is projected to touch Rs.6,250 crore. “Digital was the big story of the year. We expect the story to continue as digital will grow at a compounded annual growth rate of over 30% for the next five years,” said Thakkar.