India's entertainment and media industry to clock over 2, 24,500 crore by 2017: CII-PwC

New Delhi, Sept 10 (ANI): The CII-PwC's latest report titled 'India Entertainment and Media Outlook 2013' says that India's entertainment and media sector is expected to grow steadily over the next five years.

The industry is expected to exceed Rs. 224,500 crore growing at a CAGR of 18 percent from 2012 to 2017. The CII-PwC report, 'India Entertainment and Media Outlook 2013' will be released on September 13 at the second edition of the CII Big Picture Summit in New Delhi.

The Summit will bring together the finest business and creative minds of the M and E industry with 'Embracing Innovation in Media' as theme towards achieving 100 billion dollars Indian M and E sector' by the end of this decade. Over 70 M and E leaders will be speaking at the two-day summit organised by the Confederation of Indian Industry.

Today, the size of the Indian M and E sector increased from about 805 billion INR in 2011 to almost 965 billion INR in 2012 representing a year-on-year growth of 20 percent.

This growth was achieved in spite of a relative slowdown in the broader economy, underlining the resilience of the E and M sector. It is expected to grow at about 18 percent CAGR over 2012-2017 and reach revenues of about 2,245 billion INR in 2017.

"This growth is driven by the introduction of cable TV digitization, continued growth of regional media, continued strength of the filmed entertainment sector, fast increasing new media businesses and transparency,'' said Chandrajit Banerjee, Director General, Confederation of Indian Industry.

"We believe that innovation - faster, better, more efficient, thinking out of the box (and within the box) would be one of the game changers in this space,'' he added.

Smita Jha, Leader Entertainment and Media Practice, PwC India, said: "With increasing proliferation of digital platforms, industry participants will need to invest in constant innovation that encompasses products and services, business and operating models and most importantly, consumer experience and engagement. Innovation should be seen as an important enabler to get closer to consumers and profitably deliver relevant content and services."

An entire chapter on "The Innovation Imperative in the rapidly evolving E and M sector" has documented strategies for E and M companies in the CII-PwC report. Indian E and M businesses, like their peers abroad, will need to raise their game in operational agility and customer insight.

"To achieve this successfully, every industry participant will need to invest in constant innovation that encompasses products and services, business and operating models and most importantly, customer experience and engagement. Innovation should be seen as an important enabler to get closer to consumers and profitably deliver relevant content and services,'' the report said.

India's television market grew at 13 percent with revenues increasing from 340 billion INR in 2011 to 383 billion INR in 2012. Filmed entertainment also demonstrated stellar growth in 2012 with sector revenues increasing by about 17 percent from 96 billion INR in 2011 to 112 billion INR in 2012.

The print sector revenues are expected to increase at over 9 percent CAGR to reach 331 billion INR in 2017 from 212 billion INR in 2012.

Year-on-year sectors such as internet access (30 percent), internet advertising (29 percent), gaming (19 percent), and music (15 percent) are expected to continue on their high growth trajectory.

The radio sector is also expected to receive a fillip with the successful conclusion of Phase III license auctions and it is expected to grow at a robust CAGR of about 16 percent.

The rapid rise of Internet usage, high penetration of smart phones, digital advertising, wireless broadband, digital content consumption, regulatory interventions have had a significant impact on the E and M sector.

The television and print sectors dominate the industry with about 40 percent and 22 percent contribution to industry revenues respectively in 2012. Internet access now commands about 18 percent share and films 12 percent of industry revenues.

However, in 2017, television will continue to lead the industry in terms of revenue contribution with 39 percent share, followed by internet access with 28 percent share. The share of print and films are likely to decrease 15 percent and 9 percent in 2017.

Today, if we take the E and M growth without taking internet access and internet advertising into account the size of the Indian M and E sector increased from about 690 billion INR in 2011 to almost 795 billion INR in 2012. It is expected to grow at about 15 percent CAGR over 2012-2017 and reach revenues of about 1,615 billion INR in 2017.

Overall, the Indian E and M industry is on the cusp of a strong phase of growth, backed by rising consumer payments and advertising revenues across all sectors. (ANI)

Matches

MORE TOP STORIES TODAY

On Now: Delhi vs Kolkata

On Now: Delhi vs Kolkata

Karthik fifty guides Delhi in pursuit of 167-run target. More »

AB, Parthiv seal Bangalore's second win

AB, Parthiv seal Bangalore's second win

Royal Challengers overcame a stutter to cruise to the small target they were set by Mumbai Indians. More »

Glenn Maxwell carves his parallel universe

Glenn Maxwell carves his parallel universe

Glenn Maxwell seems to project an icy disdain when at the crease. Match situations rarely faze him and the bubble in which he plays excludes everyone … More »

Srinivasan can attend BCCI meeting

Srinivasan can attend BCCI meeting

His status as president of TNCA makes him eligible to attend the Working Committee meeting on Sunday. More »

No way back for Pietersen: ECB

No way back for Pietersen: ECB

Kevin Pietersen's hopes of reviving his international career appeared to end Saturday when ECB managing director Paul Downton said there was 'no way back'… More »

[REWIND] The world record that nearly wasn't

[REWIND] The world record that nearly wasn't

Twenty years ago this week, Brian Lara became Test cricket's highest scorer, but he almost didn't make it. More »

Moores gets second stint as England coach

Moores gets second stint as England coach

In a two-year spell from 2007 to 2009, the 51-year-old Moores led England in seven Test series. More »

Bangladesh senior players to see shrink

Bangladesh senior players to see shrink

Bangladesh's senior players will have three sessions with a psychological skill development coach later this month More »

BCCI is not anybody’s property — Dalmiya

BCCI is not anybody’s property — Dalmiya

Dalmiya feels that Srinivasan’s ‘power hungry’ attitude isn’t helping matters. More »

KP ridicules idea of day-night Tests

KP ridicules idea of day-night Tests

Kevin Pietersen has ridiculed the idea of day-night Test cricket, saying the game would be so different to proper Test cricket that we will need a whole… More »

Rajasthan edge low-scoring thriller

Rajasthan edge low-scoring thriller

The bowlers restricted Hyderabad to 133 for 6 before Rahane and Binny took Rajasthan over the line. More »

Tough for bowlers: Saeed Ajmal

Tough for bowlers: Saeed Ajmal

The 36-year-old believes the T20 format and rule changes in 50-over matches have made a real difference. More »

Maxwell blitz takes Punjab home

Maxwell blitz takes Punjab home

The Kings XI batsman blasted a 43-ball 95 to help his team pull off a massive chase against Chennai Super Kings. More »

BCCI members want independent probe

BCCI members want independent probe

The board members are realising after the Supreme Court's observations that something has to be done — IS Bindra More »

'BCCI lacks leaders to take on Srini'

'BCCI lacks leaders to take on Srini'

Two former BCCI presidents, Shashank Manohar and Jagmohan Dalmiya, have reacted strongly to the news of the BCCI calling an emergent meeting on Sunday… More »

Delhi look for first points against confident Kolkata

Delhi look for first points against confident Kolkata

Preview — The threat of Sunil Narine looms large again. More »

Bangalore vs Mumbai: A battle of the big-hitters

Bangalore vs Mumbai: A battle of the big-hitters

Preview — Given the firepower in both line-ups, Dubai crowd may see another high-scorer More »

Yuvraj tees off to Sharjah's delight

Yuvraj tees off to Sharjah's delight

Yuvraj Singh was hardly convincing to begin with against Delhi, but a big dose of crowd support and a helping of poor bowling meant he had the opportunity… More »

Stressed Trott stands down again

Stressed Trott stands down again

The England and Wales Cricket Board (ECB) on Friday confirmed that batsman Jonathan Trott is to take another break from all cricket with immediate eff… More »

PCB starts another coach hunt

PCB starts another coach hunt

The PCB has decided to not extend the contracts of head coach Moin Khan, fielding coach Shoaib Mohammad and batting consultant Zaheer Abbas, and has invited… More »

Fiery star Stokes bids to curb his temper

Fiery star Stokes bids to curb his temper

England all-rounder Ben Stokes admits he must keep his anger under control if he is to end his international exile. More »

Bangalore's arsenal blazes to victory

Bangalore's arsenal blazes to victory

Yuvraj Singh was back to his best in his first match for Royal Challengers Bangalore. More »

Pakistan cricketers face probe

Pakistan cricketers face probe

Pakistani cricket authorities have launched an investigation after a number of current international stars played in exhibition matches in the United States… More »

BCCI to meet before next court hearing

BCCI to meet before next court hearing

The BCCI will hold an emergent working committee meeting on April 20 to discuss the future course of action with regard to the Supreme Court hearing concerning… More »