Media business hovered for 19% escalation

The escalating income level and consumerism in the nation has well forecasted the upcoming boom in the media and entertainment sector .The country already witnessing the upsurge in the sectors like telecom and IT can now very well boast on its media sectors too.

The latest report by Ficci-PrIcewaterhouseCoopers-an Entertainment and Media Industry-Unravelling the Potential, has projected the augmentation at annual compounding rate of 19% per annum growth for the above mentioned sectors. The Entertainment and media industry is estimated to reach at Rs 83,740 crore level by 2010 from the present amount of Rs.35,300.

As said by Deepak Kapoor,Executive director, PricewaterhouseCoopers "Industry will be able to achieve higher growth because of its low penetration in lower socio-economic classes and low advertisements." The government initiatives and subsidies in the past with the fast evolving technology and customer oriented productions have well steered the growth for the business.

The report about to be divulged at Frames 2006 also revealed the growth patterns for the radio business which will be expecting around four fold increase reaching at a level of 1,200 crore by 2010 and the print media witnessing a CAGR of 12% from present set up of 10,900 crore.Thus the overall growth can be seen as well contributed by sectors like print media, television, radio, film and entertainment.