Entertainment industry.grows 10.9% to Rs 1,436 billion.in 2017-18

The industry did feel the lingering effects of demonetisation, the implementation of the GST and the Real Estate (Regulation and Development) Act, slowing the pace of growth

The KPMG Media and Entertainment Report 2018 reveals the industry inched closer to the Rs 1,500-billion mark in 2017-18 (FY18). Thanks to a rapidly growing digital user base, the industry clocked a growth of 10.9% in FY18, reaching Rs 1,436 billion. This had a positive impact on demand across sectors like films, digital advertising, animation and VFX, gaming, and music.

The industry did feel the lingering effects of demonetisation, the implementation of the goods and services tax (GST), and the Real Estate (Regulation and Development) Act (RERA), slowing the pace of growth, despite advertising growing at 11.5% year-on-year. The industry is