Source: Business Standard, June 07, 2017
Mumbai: The Indian media and entertainment industry is expected to grow much faster than the global M&E industry according to the PwC’s 2017 Global E&M Outlook. The report pegs the global entertainment and media industry to clock 4.2 per cent CAGR from 2016-21 while India is expected to grow at 10.6 per cent. The Indian M&E industry is expected to exceed Rs 291,000 crore by 2021.
The key takeaways from the report are in line with major industry trends: TV advertising will continue to command a huge share of the advertising pie, though internet advertising will emerge as the fastest growing advertising platform. Also in line with current trends, the report predicts India to be among the largest and fastest growing newspaper markets in the world, owing to the popularity of vernacular publications, and increasing literacy rates.
|Growth forecast: India vs Global for 2016-21|
|Sector||India CAGR (%)||Global CAGR (%)|
|Source: PwC’s 2017 Global E&M Outlook *Total M&E not a sum of sectors listed. Radio, books, magazines, music, gaming also considered in total revenue|