Television

Entertainment &Media sectors to grow steadily: CII-PwC

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MUMBAI:  India’s Entertainment & Media sector is expected to grow steadily over the next five years as per Confederation of Indian Industry-Price Waterhouse Cooper (CII-PwC) latest report titled ‘India Entertainment & Media Outlook 2013’.



The industry is expected to exceed Rs 224,500 crore growing at a CAGR of 18 per cent from 2012 to 2017. The CII-PwC report was released today at the second edition of the CII Big Picture Summit held in New Delhi.



The Summit which brought together the finest business and creative minds of the E&M industry with `Embracing Innovation in Media’ was themed towards achieving $100 billion by the end of this decade.  Over 70 M&E leaders spoke at the two-day summit organised by the CII.



Today, the size of the Indian M&E sector has increased from about Rs 805 billion in 2011 to almost Rs 965 billion in 2012 representing a year-on-year growth of 20 per cent. This growth was achieved in spite of a relative slowdown in the broader economy, underlining the resilience of the E&M sector. It is expected to grow at about 18 per cent CAGR over 2012-2017 and reach revenues of about Rs 2,245 billion in 2017.



 “This growth is driven by the introduction of cable TV digitisation, continued growth of regional media, continued strength of the filmed entertainment sector, fast increasing new media businesses and transparency,’’ said CII director general Chandrajit Banerjee. ``We believe that innovation - faster, better, more efficient, thinking out of the box (and within the box) - would be one of the game changers in this space,’’ he added.



An entire chapter on ``The Innovation Imperative in the rapidly evolving E&M sector’’ has documented strategies for E&M companies in the CII-PwC report.  Indian E&M businesses, like its peers abroad, needs to raise its game in operational agility and customer insight.



 “To achieve this successfully, every industry participant will need to invest in constant innovation that encompasses products and services, business and operating models and most importantly, customer experience and engagement. Innovation should be seen as an important enabler to get closer to consumers and profitably deliver relevant content and services,” said the report.



 India’s television market grew at 13 per cent with revenues increasing from Rs 340 billion in 2011 to Rs 383 billion in 2012. Filmed entertainment also demonstrated stellar growth in 2012 with sector revenues increasing by about 17 per cent from Rs 96 billion in 2011 to Rs 112 billion in 2012. The print sector revenues are expected to increase at over nine per cent CAGR to reach Rs 331 billion in 2017 from Rs 212 billion in 2012.



Year-on-year sectors such as internet access (30 per cent), internet advertising (29 per cent), gaming (19 per cent), and music (15 per cent) are expected to continue on their high growth trajectory. The radio sector is also expected to receive a fillip with the successful conclusion of Phase III license auctions and it is expected to grow at a robust CAGR of about 16 per cent.



 The rapid rise of Internet usage, high penetration of smart phones, digital advertising, wireless broadband, digital content consumption, regulatory interventions have had a significant impact on the E&M sector.



The television and print sectors dominate the industry with about 40 per cent and 22 per cent contribution to industry revenues respectively in 2012. Internet access now commands about 18 per cent share and films 12 per cent of industry revenues.



 Nonetheless, in 2017, television will continue to lead the industry in terms of revenue contribution with 39 per cent share, followed by internet access with 28% share. The share of print and films are likely to decrease 15 per cent and nine per cent in 2017.



If we take the E&M growth without taking internet access and internet advertising into account the size of the Indian M&E sector increased from about Rs 690 billion in 2011 to almost Rs 795 billion in 2012. It is expected to grow at about 15 per cent CAGR over 2012-2017 and reach revenues of about Rs 1,615 billion in 2017.



 Overall, the Indian E&M industry is on the cusp of a strong phase of growth, backed by rising consumer payments and advertising revenues across all sectors.

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