The country is set to emerge as the fastest growing market in the global entertainment and media space in the next five years with a size of over Rs 1,00,000 crore by 2011, a study says.Driven by a sharp growth in the digital media space, as well as the traditional segments like TV, radio and films, the global E&M industry will grow at a compound annual rate of 6.4% to $2 trillion in the same period, global consultancy firm PricewaterhouseCoopers said in its study.While identifying Asia-Pacific as the fastest-growing region, PwC said the rapid growth in this region would be led by India and China."India will be the fastest growing (country) over the next five years at 18.5% CAGR while China will continue to record double-digit annual gains that will average 16.8% CAGR," it said.The global outlook projects Indian E&M industry revenue at Rs 1,20,871 crore in 2011, against Rs 51,715 crore in 2006, Timmy S Kandhari, executive director, PwC told PTI.Internet advertising is expected to emerge as the fastest growing segment over the next five years, driven by the growing number of internet users, Kandhari said.The average spending in Asia Pacific would be at 9.6%, the fastest for any region, moving up to $470 billion in 2011 from $297 billion in 2006.Interestingly, the report noted that the US, the largest market in the world, would grow at the slowest pace."The US remains the largest but slowest growing market at 5.3% CAGR to $754 billion by 2011."
