Media & Entertainment Industry in India
The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making high growth strides, backed by rising consumer demand and improving advertising revenues. The Indian media & entertainment sector is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.3 per cent to touch Rs 2.26 trillion (US$ 33.7 billion) by 2020.
Investments by industry giants both in India and abroad ( covering a wide spectrum including screens, multiplexes, television, animation, broadcast, mass media , streaming media, entertainment and R&D) supplemented by Government initiatives to support the M&E industry are the factors fuelling the industry's growth. The industry is largely driven by increasing digitisation and higher internet usage over the last decade.
South India Media and Entertainment industry to touch Rs 43,600 cr by 2017
Media and entertainment industry in South India is expected to grow at compound annual growth rate (CAGR) of 16 per cent to Rs 43,600 crore by 2017, according to a report by FICCI-Deloitte. Films, Television, New Media & Radio are growing at rates higher than the industry average in South India propelled by the consumer’s demand to access content ‘anytime-anywhere’.Incidentally, South India churns out more films than Bollywood and is continuously adopting latest technologies in terms of filming, distributing and exhibiting films digitally.
Also the number of Television channels catering to South Indian languages is rapidly increasing. The report also said that among the southern states, Tamil Nadu constitutes over one-third of the south Indian M&E industry and is expected to grow at a slightly higher rate than the other states of the region at a CAGR of 17 per cent to reach Rs15,850 crore by Fx-2017.