Media and Entertainment
The Indian entertainment and media (E&M) industry has out-performed the Indian economy and is one of the fastest growing sectors in India. The E&M industry generally tends to grow faster when the economy is expanding. The key drivers of the growth of Indian Media and Entertainment industry have been the rising spend on entertainment by the growing Indian middle class, regulatory initiatives, increased corporate investments and integration of existing players across the value chain.
In addition to the expected increase in spend of the Indian middle class towards entertainment, the rising global interest in Indian content is also expected to fuel growth in this industry. Also, technological advances and liberal government policies favoring foreign direct investment (FDI) continue to aid expansion.
The industry is highly driven by strong consumption in non-metro and small cities, intense emergence of regional media and burgeoning new media businesses and formats. Industry registered a growth of 12 per cent in 2011 over 2010. While television (TV) retains its top slot as an entertainment medium, segments like animation, VFX, digital media and gaming are up-coming as major mediums. Multiple movies crossed Rs 100 crore (US$ 20.04 million)-business in domestic theatrical collections and Rs 30 crore (US$ 6 million) mark in Cable & Satellite (C&S) rights.
Advertising spends across all media accounted for 41 per cent of the overall M&E industry revenues, aggregating to Rs 300 billion (US$ 6 billion) while advertising revenues witnessed a growth of 13 per cent in 2011.
Total employment in the Media and Entertainment industry would increase from about 1 to 1.1 million persons in 2008 to about 4 to 4.1 million persons in 2022, an incremental human resource requirement of about 3 million persons.