India's Entertainment Industry Growth Pegged at 18 Percent

New Delhi: With a robust 18 percent annual growth, India's entertainment and media industry is set to log a turnover of 2,245 billion ($34 billion) by 2017, backed by rising consumer and advertising revenues, says a major industry report.

The size of this industry increased from about 805 billion in 2011 to 965 billion in 2012 with a 20 percent annual growth, despite a slowdown in the broader economy, said the report prepared by the Confederation of Indian Industry and PriceWaterhouseCoopers.

"It is expected to grow further at about 18 percent (compounded annualy) over 2012-2017 and reach revenues of about 2,245 billion in 2017," said the report that is to be formally released Sep 13 at the CII Big Picture Summit here.

"This growth is driven by the introduction of cable TV digitization, continued growth of regional media, continued strength of the filmed entertainment sector, fast-increasing new media businesses and transparency," said CII director general Chandrajit Banerjee.

"We believe that innovation -- faster, better, more efficient, thinking out-of-the-box and within-the-box -- would be one of the game changers in this space," Banerjee added.

Key revenues projections between 2012 and 2017:

-TV market to grow 17.9 percent annually from 383 bn to 872 bn

-Filmed entertainment to grow 12.2 percent annually from 112 bn to 199 bn

-Print to grow 9.3 percent annually from 212 bn to 331 bn

-Radio to grow 15.6 percent annually from 15 bn to 32 bn

-Music to grow 15.1 percent annually from 13 bn to 26 bn

-Gaming to grow 18.8 percent annually from 18 bn to 42 bn

-Internet access to grow 29.8 percent annually from 171 bn to 631 bn

-Internet advertising to grow 29.4 percent annually from 23 bn to 84 bn

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