Animation industry to touch $253 Million by 2013

By SiliconIndia   |   Friday, 29 October 2010, 09:53 Hrs
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Chennai: The Indian animation industry is forecast to grow at a CAGR of 20 percent to reach $253 million by 2013 from the present size of $122 million, according to a latest study.

According to the study launched by the Assocham and Delloitte, TV will contribute 55 percent of the overall animation entertainment followed by approximately equal share of movies and direct to DVD. The industry shall also be shaped by domestic share of around 25 percent and 75 percent of outsourcing.

The domestic industry is primarily catering the U.S. and UK and its share in animation revenues was only 30 percent. The global animation and gaming industry is growing at 12 percent per annum and is estimated at $115 billion and is anticipated to sustain an annual growth rate of 10 percent to reach $170 billion by 2013.

"U.S. has the largest number of animation movie releases and houses the two largest animation movie studios in the world – Disney Pixar and Dreamworks. Major markets for gaming industry are U.S., Europe and Japan. U.S. is the highest contributor to the revenues of leading game developers in the world namely Nintendo, Electronic Arts. However, China is the fastest growing market. Most of the animation and gaming intellectual properties originate from these countries," said Ravindra Sannareddy, Chairman - southern regional council, Assocham.

The study also revealed that the domestic animation and gaming is 0.6 percent of the worldwide animation and gaming market.

"There has been a cultural mindset that the animation is meant for kids only. However, with the changing mindset, viewership of animation content is increasing with more adults watching the same," said Hemant Joshi, Partner, Deloitte.

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