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Mumbai, Mar 25: the E&M industry) grew by 24% over the previous year and is estimated at Rs 1,300 crore in 2007, up from Rs 1050 crore in 2006. Television industry was the other industry which recorded a growth higher than the overall growth of the industry in 2007, having recorded a growth of 18% over the previous year and is estimated at Rs 22,600 crore in 2007, up from a substantially large base of Rs 19,100 crore in 2006.
Print media, the other large traditional media segment other than television and filmed entertainment, recorded a growth of 16% over the previous year and is estimated at Rs 14,900 crore in 2007, up from Rs 12, 800 crore in 2006. Filmed entertainment recorded a steady growth of 14% over the previous year and is estimated at Rs 9,600 crore in 2007, up from Rs 8,500 crore in 2006.
Globally, the music industry is under-performing and the trend is similar in India. The overall music industry grew marginally by 1% in 2007 and stands at an estimated Rs 730 crore in 2007. Though digital music has come to the rescue of the music industry, its current small size is unable to make good the decline in the physical music sales, which saw a decline of 2% over the previous year.
As in the previous year, the television segment saw the maximum number of investments and alliances both from financial standpoint as well as from the strategic point.
Some of the strategic alliances in 2007 include NBC Universal picking up a 25% stake in NDTV, Viacom and Network18 joint-venture for launching television channels and foraying into film production and Turner forming a joint venture with Miditech to launch television channels....
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