Driven by digitisation and growth in new media, the Indian media and entertainment industry is expected to grow 11.8 per cent in 2013, consultancy KPMG release it in a report. Digitisation, general elections due next year and accelerating growth in new media are factors propelling the industry forward, it said.
The industry is expected to touch Rs. 917 billion this year, up from Rs.820 billion in 2012 when it grew by 12.6 per cent, KPMG said. Television dominated the media and entertainment landscape in India, growing 12.5 per cent in 2012 and accounting for Rs. 370 million of the total revenue. Films were ranked third behind the print industry in terms of revenue, accounting for Rs. 112 billion but up by 21 per cent last year.
Advertising spends across media grew only 9 per cent to Rs. 327.4 billion last year, with the sector affected by the economic slowdown. It had grown by 12 per cent in 2011 and 17 per cent the previous year.
Digital advertising showed impressive growth of nearly 41 per cent, with earnings surging from Rs. 15.5 billion in 2011 to Rs. 21.7 billion last year. “The rapid increase in mobile and wireless connections continues to drive the growth of internet penetration in India,” the release said.
Source – Reuters