Media and Entertainment sector always gives the best outlook of any economy as this is the only place where all different types of Industries come together.
Though, we kept on listening that India is untouched of the recession around the world, reality is that the overall growth of Media and Entertainment industry is halved to 8% this year (from a very decent CAGR growth rate of 16.6% from 2004 to 2008).
PWC, recently released – Indian Media & Entertainment Outlook 2009 Report – which however is optimistic of a double digit growth rate for Media & Entertainment sector from next year onwards.
Here is how the report looked for various segments of Media and Entertainment industry for the forecast of year 2009- (I have analyzed the report and created a graph from it to understand it better)
Print medium still dominates in terms of the size and share percentage. Total print size is Rs. 111.5 Billion with a market share of 47.3%. Television comes in close second with 38.6% market share and total size of 91.0 Billion.
But interesting trend is the fast growth of Online and Radio industry, though OOH still needs to pick up pace. Online medium is at a very nascent stage in India in terms of Advertising and it provides a huge potential. What we need though is a different kind of ad selling model as google ads doesn’t seem to work the same way in India as in the US.
The report also presented some very interesting Stats about Indian M&E sector-
- Over 1,000 movies released annually (largest in the world)
- 3.2 billion movie tickets sold annually (largest in the world)
- 80 million pay-TV homes (third largest in the world)
- 119 million television households
- 450 television channels
- Over 300 million mobile subscribers (second largest in the world)
- Over 350 radio stations
- 6,000 newspapers published, including the world’s largest circulated daily.
- 10,000 music tracks released annually. (That is close to 3 tracks daily)
here is the complete 130 page report by PriceWaterhouseCoopers report on Indian Media & Entertainment Outlook 2009 Report. If you are a media & Entertainment professional, this report is a must read.
This Media Monday post has been written by Rabi Gupta, a start up enthusiast and soon to launch his first product iDubba (Intelligent Box).