Media industry to touch Rs 1.15 lakh cr by 2012

The Indian media and entertainment industry is poised to touch Rs 1,15,700 crore by 2012, driven by increased advertising spend.

"The Indian media and entertainment industry is growing at a pace of 19 per cent per annum. It is expected to touch Rs 1,157 billion by 2012," Information and Broadcasting Minister Ambika Soni said at the 16th International BES EXPO 2010.

She added that television viewership is also expected to grow to 132 million over the same period of time from 115 million viewers in 2007.

With rising consumer spends, advertising revenues for broadcasters has also seen a surge over the last few years. This along with relaxation of the FDI norms, has resulted in a spurt of TV channels, including niche channels.

Technologies like Direct To Home (DTH) and IPTV have also contributed to the growth of the sector.