Indian Entertainment and Media Industry To Grow 17%: Assocham
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Indian Media and Entertainment Industry ( M&E) seems soaring higher and higher every year. Last year it soared more than 17% and is predicted to grow around 19% by 2010. It is one of the fastest growing sectors in Indian economy triggered by economic growth and increasing income levels. As per a report by Assocham (Associated Chambers of Commerce and Industry of India) the turnover of this sector will double in next three years from it’s current turnover of 500 billion.
It seems that every part of M&E industry is trying to contribute to the growth of M&E Industry. For past few years Direct To Home (DTH) service revolutionized how people watch and perceive television entertainment. DTH Industry has shown an impressive growth of 20% per year for past couple of years and it seems there is still lot of scope. According to the Bharti Airtel’s head of brand and media, Chandrashekhar Balakrishnan “At present, there are 80 million TV households in India, of which over seven million are DTH ones. Since the penetration is just under nine per cent, there is much room for a massive growth rate”. As the operators are moving towards providing triple play services ( Phone, Internet, Television) the growth seems unchallenged.
Digital advertisement industry also seems to be riding the horses and is expected to grow in double digits. Same is the case with related segments like video games, animations etc. Gaming Industry is excepting a huge growth and even big players like Apple, Microsoft are trying hard to get a share of the pie. The seriousness of the big players like Microsoft can be judged from the fact that they are tying up with players like DishTV to promote their gaming consoles in India.
According to Assocham report the turnover of television Industry will grow to around 520 billion in next three years. There will also be a huge growth in the subscription services like DTH.
It seems that M&E industry is ready to zoom at a very fast pace catalyzed by many factors like convergence of media, films, digital media and increase in broadband penetration thus helping it to become a front runner.
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