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March 13, 2012, 5:19 am UTC
According to a recent report by FICCI and KPMG, the Indian Media and Entertainment industry registered a growth of 12 % in 2011 over 2010. Strong growth in tier 2 cities, the continued march of regional media and the rapidly expanding new media business helped the media and entertainment industry led to the increase in revenues to Rs.729 billion.
The report will be formally released at the FICCI Frames 2012 -- an entertainment and business summit of the Federation of Indian Chambers of Commerce and Industry (FICCI) starting Wednesday in Mumbai.
Overall the industry is expected to register at a compounded annual growth rate (CAGR) of 15 per cent to a size of Rs.1,457 billion by 2015.
According to the report, the print industry grew by 8 .4 percent, from Rs193 billion in 2010 to Rs 209 billion in 2011 witnessing a decline in growth rate. The expected growth was due to the challenging macroeconomic environment and reduced advertising spends.
With many multi crore blockbuster movies crossing 100 crore mark, the film industry recorded a significant of 11.5 per cent in 2011 over 2010 and is estimated to be worth Rs 93 billion in 2011. It is projected to grow at a CAGR of 10.1 per cent to touch Rs 150 billion in 2016.
“The media and entertainment industry landscape is undergoing a significant shift. Cable digitization, promise of wireless broadband, increasing DTH penetration, digitisation of film distribution, growing internet use are all prompting strategic shifts in the way companies work," said Jehil Thakkar, Head of Media and Entertainment, KPMG.
The report also revealed that the Advertising spends across all media amounted to Rs 300 billion in 2011, contributing to 41 per cent of the overall M&E industry revenues. Advertising revenues saw a growth of 13 per cent last year, versus 17 per cent in 2010.
New media businesses also saw an increased uptake largely driven by growth in internet penetration and proliferation of new age devices.
"Smart phones, tablets, PCs and gaming devices all form the foundation of a new wave in media usage.This is gradually impacting the way content is being created and distributed as well. Multiple media including TV, films, news, radio, music are being impacted with this change," said the report.
In terms of performance, 2011 proved to be a year with mixed results in terms of growth across different sub sectors. The traditional media businesses experienced a slow down compared to last year, especially in the second half of the year.
Online adspend reached approximately 4 percent of total industry advertising revenue.
Animation, VFX and post production industry achieved estimated revenues of Rs.31 billion in 2011, a robust growth of 31 percent over 2010.
The radio industry grew at 15 percent in 2011 to reach Rs.11.5 billion compared to Rs.10 billion in 2010.
New sectors such as animation and VFX, digital advertising and gaming are fast increasing their share in the overall pie. The industry achieved estimated revenues of Rs.31 billion in 2011, a robust growth of 31 percent over 2010.
"The key industry highlights are rise in digital content consumption, launch of diverse content delivery platforms, strong consumption in Tier 2 and 3 cities, rising footprint of the players in the regional media, rapidly increasing new media business and regulatory shifts," said Rajiv Kumar, Secretary General, FICCI.
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