Advertising revenue of the industry is anticipated to increase at a CAGR of 15.3 per cent in the next five years, said the joint report by FICCI and KPMG.
The 'Media and Entertainment Industry Report 2017' said the industry grew at 9.1 per cent last year "despite demonetisation shaving off 150-250 basis points in terms of growth across all sub-segments".
The digital advertising industry is projected to be around Rs 29,450 crore by 2021 growing at a CAGR of 31 per cent, contributing 27.3 per cent to the total advertising revenues, the report said.
FICCI M&E Committee Chairman Uday Shankar said building solid infrastructure and continued government support will help the industry reach the tremendous potential it holds for employment and creating socio-economic value for the country.
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The television medium is expected to grow at a CAGR of 14.7 per cent over the next five years as advertising revenues will continue to show a robust growth due to strong economic fundamentals, it added.
Films are expected to grow at 7.7 per cent CAGR due to increase of depth in regional content and rise in acquisitions of digital content by over-the-top platforms, the report said.
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