India, China To Fuel Growth In E&M Sector

New Delhi | Updated: Jul 1 2004, 03:29am hrs
India is contributing significantly to the growth of the global entertainment and media (E&M) sector, according to a survey conducted by PricewaterhouseCoopers (PwC). The Asia-Pacific region is emerging as a key driver of the industry growth, fuelled largely by India and China, said PwC in its media outlook for 2004 to 2008.

Both, India and China are investing heavily in communications and media infrastructure and opening up their markets, the survey indicated. Theres significant room for expansion in India and China due to the huge population and low media penetration, it added.

Globally speaking, the entertainment and media industry spending will increase at a 6.3 per cent compound annual growth rate (CAGR) to $1.7 trillion in 2008.

Video games and Internet advertising are important components, contributing to the overall growth.