According to a Ficci-PwC study, the gaming sector is set to emerge as one of the key drivers with a projected compound annual growth rate of around 67%.
NEW DELHI: The country’s media and entertainment industry is in a big game mode. According to a Ficci-PricewaterhouseCoopers (PwC) study on the Indian media and entertainment industry, the gaming sector is all set to emerge as one of the key drivers with a projected compound annual growth rate (CAGR) of around 67%. Gaming revenues will shoot up to Rs 260 crore in 2010 from Rs 20 crore currently.
Out of the media segments, internet advertising will grow at a robust CAGR of 50%, followed by radio and television, which will grow at 32% and 24% respectively.
Revenues of internet advertising is expected to grow from Rs 100 crore to Rs 750 crore and radio revenues will grow from Rs 300 crore to Rs 1,200 crore by year 2010. Music, which is at Rs 700 crore, may just about manage to touch Rs 740 crore by the reported period.
The report also said that the Indian media and entertainment industry, which is currently pegged at Rs 35,300 crore, is likely to grow at 19% CAGR to touch Rs 83,740 crore.
The full Ficci-PwC study will be released during FRAMES, an annual media event, which will be held in Mumbai later this month. PwC executive director and leader, Entertainment and Media Practice, Deepak Kapoor, said low media penetration in rural areas and low advertising spend are among the growth triggers for the sector.
Even as print media is tipped to grow by 12% over the next four years, its pace will be considerably slower than all other segments except music. The print media, which is currently worth Rs 10,900 crore, is likely to increase to Rs 19,500 crore by 2010. The music industry is likely to grow by only 1% to touch Rs 740 crore from Rs 700 crore currently.
However, it is the television industry (including direct-to-home and newer technologies like IPTV), which will continue to garner the largest revenue share and music will get the lowest share of revenues due to piracy rate in the country. Currently, TV gets the highest revenues of Rs 14,800 crore and internet advertising gets the lowest at Rs 100 crore. Of the total revenue pie, the music industry has a share of Rs 700 crore and radio has Rs 300 crore.
By 2010, revenues for TV will be at Rs 42,700 crore, print media will have Rs 19,500 crore, filmed entertainment will have Rs 15,300 crore, live entertainment will get Rs 1,800 crore, out-of-home entertainment will get Rs 1,750 crore, radio will have Rs 1,200 crore, internet advertising will have Rs 750 crore and music industry will get Rs 740 crore. According to Ficci estimates, the animation may grow at a CAGR of 30% and mobile entertainment (including gaming) may grow by around 80% over the next four years.
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