Mumbai: India’s entertainment and media sector will maintain its double-digit growth trajectory in 2011, according to a report by PricewaterhouseCoopers Pvt. Ltd (PwC).
The industry is expected to reach a size of Rs 1,199 billion by 2015, expanding at a 13.2% compounded annual growth rate, according to PwC’s India Entertainment and Media Outlook 2011
The industry recorded one of the highest growth rates in the world in 2010—11.2%—largely on the back of improved economic conditions, a rebound in advertising and consumer expenditure and, most importantly, in entertainment and media spending. The industry grew a little slower than expected due to the downturn in films, while all other segments expanded as predicted. The industry is poised for greater growth in the future though some key regulatory hurdles remain, experts said.
Growth will be driven by traditional media such as television, print and films, which will continue to dominate the entertainment and media industry, with significant revenue from non-digital. The report also forecast good growth in digital spending, but maintains that infrastructure continues to be the biggest challenge to the growth of consumption and revenue in this segment.