that the region churns out more films than Bollywood and buoyed by an ardent fan following in the South, film is the third largest segment (11 per cent) at Rs 2,680 crore, it said that industry is adopting technology across the value chain scouting talent through social media, adopting newer film making technologies in terms of sound and filming, distributing and exhibiting films digitally as well as embracing e-ticketing platforms.
The industry is expected to see a healthy CAGR of 12 per cent over the next four years, it added.
Explaining about the growth prospects in radio and new media industry the release quoting from report said- "Radio with the upcoming Phase III auction, and new media, propelled by the consumer's demand to access content 'anytime, anywhere', are expected to grow at a CAGR of 19 per cent and 23 per cent, respectively, over the next four years."
It further states that- for new media, mobile phones are expected to emerge as the preferred platform for consuming content, with the increasing popularity of mobile broadband (3G) and the impending launch of 4G LTE services.
The report also said that among the states, Tamil Nadu constitutes over one-third of the south Indian M&E industry. The M&E industry in Tamil Nadu is expected to grow at a slightly higher rate than the other states of the region, with all four media platforms expected to grow faster in the state.