India's Entertainment and Media (E&M) industry is poised to log a double-digit growth of 12.4 per cent cumulatively over the next five years touching Rs 1.04 lakh crore by 2014, according to a report by research firm PricewaterhouseCoopers (PwC).
"Many of the factors which caused the slowdown in 2009 are not likely to persist. With confidence returning alongside a likely increase in consumer and advertisement spends, the E & M industry is looking to get back to its high growth trajectory," Timmy S Kandhari, Leader– Entertainment & Media Practice, PricewaterhouseCoopers India, said in the report titled 'Indian Entertainment & Media Outlook 2010'.
Unveiling the outlook for the industry during 2010-14, he said the television industry is projected to continue to be the major contributor to the overall industry revenue pie and is estimated to grow at a stable rate of 12.9 per cent cumulatively over the next five years, from an estimated Rs 26,550 crore in 2009 to Rs 48,800 crore by 2014.
The film sector is projected to grow at a Compound annual growth rate (CAGR) of 12.4 per cent over the next five years, reaching Rs 17,050 crore in 2014 from the present Rs 9,500 crore in 2009.
The E&M industry registered one of its slowest growth rates in 2009, growing at a rate of 2.2 per cent. This was largely due to lower than expected uptake in the advertisement spend which registered no growth and hence affected sectors like print, Out of Home (OOH), radio as well as Internet advertising. Negative growth in filmed entertainment also affected growth in 2009, the report said.