The Indian Entertainment and Media industry that is back on the right path if the latest study conducted by the PricewaterhouseCoopers’ – Indian Entertainment and Media Outlook 2010 is to be believed. It reports that the Media industry would swell by 12.4% in the next 4 to 5 years. This comes after most Media and Entertainment types suffered decline or underwent gradual growth in the year 2009 vis-à-vis the current trend (2010); and also the future trend. A similar report, released exactly a year ago suggested a double digit growth for the entertainment and media industry.
Most sub-industries of Media like television, radio, and internet experienced growth (unlike the U.S. media industry) of 8.5 per cent, 8.4 per cent, 20 per cent respectively in 2009; except for the film entertainment sector which was afflicted by a decline of 11.2 per cent. Post the economic recovery we shall see a dramatic progress in the entertainment and media sectors majorly dominated by television, print and films. Advertising has always been a close relative of the media and entertainment industry, so the increase in growth rate and spending habits of the latter ensures greater fortunes to the Ad-World
Speculations propose the television industry to grow by 15.6 per cent in 2010 followed by 13 per cent in 2012, thereby achieving a cumulative growth rate of 12.9 per cent over 2009-14; and this development (growth of the TV sector) is directly correlated to the Gross Domestic Product (GDP) of the country. The total number of daily newspapers circulated in India amounts to 398 of which Hindi dailies top the chart, and growth in this sector is expected to grow by 7.4 per cent in the next 5 years which is seen as the highest achieved development in print media.
On the other hand, the radio sector enjoyed much success during recession. This fact owes to the reason of many advertisers considering a cheaper medium of communication called Radio over more expensive resources like newspapers and televisions. It enjoys a projected growth of 12 per cent in 2010, and hopes to overcome the prevailing hurdles of high music royalty fees, multiplying frequency channels (competition), etc. Other sectors like, internet and Out-of-home advertising would also experience augmentation of 20 per cent and 11 per cent Compound Annual Growth Rate (CAGR) respectively in the coming years and this would be made possible with the advent of modern technologies for the internet world and more flexible regulations imposed by the Government to improve OOH advertising.
