India’s entertainment and media industry will grow at an annual pace of 12.4% during 2010-14 to Rs.1.04 trillion, said advisory firm Price-waterhouse Coopers, (PwC) marking a sharp upward shift from 2009.
The sector grew 2.2% last year, with revenues estimated to be in the region of Rs 58,080 crore. The estimate was made in PwC’s Entertainment and Media (E&M) Outlook released in Mumbai. PwC said the industry will grow globally at 5% compounded annually to reach $1.7 trillion (Rs.79.39 trillion) in 2014.
Growth in India will be led by television, which is estimated to grow at 12.9% to Rs.48, 800 crore by 2014 from Rs.26, 550 crore in 2009. Print is expected to grow 7.4% to Rs.23, 050 crore in 2014 from Rs.16, 150 crore in 2009.The movie business is will grow 12.4% to Rs.17, 050 crore in 2014 from Rs.9, 500 crore in 2009.Radio is projected to grow 12.2% to Rs.1, 600 crore from Rs.900 crore in 2009. One of the big revenue generators will be music, which will grow at 28.6% to Rs. 2,650 crore in 2014.