As per the report of Confederation of Indian Industry, the media and entertainment industry is expected to exceed Rs 224,500 crore by 2017, growing at a CAGR of 18 per cent from 2012. The ongoing proliferation of digital platforms has been a key enabler for this growth.
The Indian Media & Entertainment industry grew from INR 652 billion in 2010 to INR 728 billion in 2011, registering an overall growth of 12%. Backed by strong consumption in Tier 2 and 3 cities, continued growth of regional media and fast increasing new media businesses, the industry is estimated to achieve a growth of 13% to touch INR 823 billion.
While Television continues to be the dominant medium, sectors such as Animation and VFX and Digital Advertising are fast increasing their share in the overall pie.
Radio is expected to display a healthy growth rate after the implementation of Phase 3. Print will continue to be the second largest medium in the Indian Media & Entertainment industry. A lot will depend on how well the print players are able to adapt to fast changing reader habits and news consumption patterns.