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The Indian media & entertainment industry grew 11.8% last year over 2012, touching Rs 91,800 crore on the back of digitisation growth in regional media, according to a KPMG report released at 15th Ficci Frames global convention on Wednesday.
Uday Shankar, Ficci Frames chairman and STAR India chief executive, said while the growth was encouraging when compared with the growth of the economy, many gaps existed. “While delivering a growth rate three times that of the country at large is a cause for satisfaction, the truth is that in dollar terms, we have barely made a dent this year. And, even more important we remain at a great distance from the goal of growing the sector to $100 billion,” he said.
Digital advertising has shown promising growth in 2013, vis-à-vis 2012, which is about 38.7 per cent, followed by gaming which grew by 25.5 per cent. As for the 2018 prediction, digital advertising is expected to lead the CAGR with 27.7 per cent, followed by radio with 18.1 per cent.