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India’s media & entertainment industry to be worth Rs 1.157 trillion by 2012: FICCI-PWC 2008 report

18-March-2008
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India’s media & entertainment industry to be worth Rs 1.157 trillion by 2012: FICCI-PWC 2008 report

India’s media and entertainment (M&E) industry is poised to grow by 18 per cent over the next five years and become a Rs 1.157 trillion industry by 2012. This was revealed by the FICCI-PricewaterhouseCoopers 2008 report on the M&E industry. According to the report, the industry registered a 17 per cent growth in 2007 over the previous year, reaching an estimated size of Rs 513 billion in 2007 up from Rs 438 billion in 2006. The report furthered said that in the last four years (2004-07), the industry had recorded a cumulative growth of 19 per cent on an overall basis.

The country’s television industry grew by 18 per cent in 2007 and currently stands at Rs 226 billion. It is projected to grow to Rs 600 billion by 2012. In the case of print media, it is poised to reach Rs 281 billion by 2012 from the current Rs 149 billion. Print media grew by 16 per cent in 2007 over 2006.

Radio is projected to reach Rs 18 billion by 2012 from the current Rs 6.2 billion, while filmed entertainment is projected to reach Rs 176 billion by 2012 from the current Rs 96 billion, as per the report.

The report is a run-up to FICCI Frames 2008, which will be held in Mumbai from March 25-27. Delegates from 17 countries have already registered for the mega event, viz., Australia, Canada, France, Germany, Greece, Hong Kong, Italy, Malaysia, Pakistan, South Africa, Thailand, UAE, the UK, the US, Korea, Switzerland, and New Zealand.

With nearly 30 sessions on topical themes, FICCI Frames 2008 would capture the essence of where the industry is positioned today and show the way forward. The topics that would come up for discussions include ‘Changing face of TV news’, ‘Resurgence of the language media’, ‘Developing animation content’, ‘New Age technology and emerging production pipelines in animation’, ‘Raising capital’, ‘Linguistic diversity in Indian cinema’, ‘Radio for the masses’, ‘Scope of international co-productions’, ‘Talent crunch in the industry’, ‘Film marketing & distribution’,

‘Importance of digital cinema’, ‘Animation’, ‘IP creation, protection and life cycle’, ‘Visual effects’, ‘Mobile entertainment’, ‘Sports as entertainment’, and ‘Revenue streams in multiplexes’, among others.

Amit Mitra, Secretary General, FICCI Frames, said, “With Frames, we monitor the growth of the entertainment industry on an annual basis. Growth in 2007 has indeed been robust, with expansion of radio and TV recording a compound annual growth rate of 22 per cent and 18 per cent, respectively. We can proudly say that our networking with the Government and industry segments is paying rich dividends. It is now for the industry to fan out and have a global outreach. FICCI Frames, of course, would hand-hold the players in their quest for becoming world players.”

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