Bits & bytes: Media and entertainment sector to touch Rs 2,24,500 cr in 2017
Posted online: Tuesday, Sep 17, 2013 at 0000 hrs
The media and entertainment (M&E) sector in India is expected to grow at a CAGR of 18% to touch Rs 2,24,500 crore in revenues in 2017, according to a CII-PwC report. The Indian M&E sector grew from R80,500 crore in 2011 to almost R96,500 crore in 2012 representing a growth of 20%, according to the report. Chandrajit Banerjee, director general, CII, said, “This growth is driven by the introduction of cable TV digitisation, continued growth of regional media, continued strength of the filmed entertainment sector, fast increasing new media businesses and transparency. We believe that innovation - faster, better, more efficient, thinking out of the box (and within the box) - would be one of the game changers in this space.”
The study also states that the television and print sectors dominate the industry with about 40% and 22% contribution to industry revenues respectively in 2012. Internet access commands about 18 % share and films 12% of industry revenues.