South Indian media, entertainment market to grow 14% in four years

South Indian media, entertainment market to grow 14% in four years

Chennai: The south Indian media and entertainment market, estimated at Rs18,740 crore, is poised to expand at a compound annual growth rate of 14% in the next four years and reach Rs32,140 crore, according to a report released by the Federation of Indian Chambers of Commerce and Industry (Ficci) and Deloitte Touche Tohmatsu on Thursday.

Radio’s contribution is also set to more than double from the current Rs320 crore to touch Rs670 crore by 2015.

India’s second largest film industry released over 3,000 films in the last five years and is valued at Rs2,110 crore.

The Tamil film market, which accounts for 36% of the overall south Indian market, will see its movie industry grow from 940 crore of revenue to 1,450 crore in four years. This year the audience could pick and choose from 150 films released in Tamil.

The Telugu film market is a close second in box office revenue, recording Rs900 crore this year, expected to increase to Rs1,380 crore by 2015.

Big budget blockbuster Enthiran, the Rajinikanth starrer, is an example of the worldwide reach of regional films. The Tamil movie, which was dubbed in other languages, grossed nearly Rs200-225 crore in the first two weeks of its release in 2010.    

The report says that emerging revenue streams from mobile- and Internet-based film content will open up new areas for growth, as was the case with the recent Tamil song “Why this Kolaveri" that went viral and now has recorded over 11.9 million hits on video content site Youtube since its release two weeks ago.