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According to a report by PricewaterhouseCoopers (PWC), the Indian Entertainment and Media industry is expected to return to double digit growth in 2010.
"The slowdown in growth requires the E&M industry to revisit their short term business plans and strategies. However, double digit growth is expected to return over the forecast period with India recording one of the highest growth in the E&M industry, as well as in advertising spending in the world, along with China," said Timmy Kandhari, leader India Entertainment and Media practice, PWC, in a statement.
The report has predicted the growth rate to increase in 2010 to 10.4% as economic conditions may gradually improve. The industry will continue to grow at increasing rates and there will be an overall compound annual growth rate for the period 2009-13 of 10.5%.
The 2009 edition of the PWC report "Indian entertainment and media outlook 2009" predicts a healthy growth in all eight segments of entertainment and media industry in next five years (2009 to 2013). These are television, filmed entertainment, print media comprising newspaper and magazine publishing, radio, emerging segments like music, animation, gaming, internet advertising, out-of-home advertising and sports.
Television will be the major contributor to overall industry revenue and is estimated to grow at a stable rate of 11.4% cumulatively over the next five years. The overall television industry is projected to reach Rs.420 billion by 2013.
India's film industry is expected to grow a CAGR of 11.6% over a period of next five years, reaching to Rs.185 billion in 2013 from the present Rs.107 billion in 2008.
Print media will develop by 5.6% and will reach to Rs.213 billion in 2013 from the present Rs.162 billion in 2008, while radio advertising will see 18% growth reaching Rs.19 billion in 2013 from the present Rs.8.3 billion.
