The Indian Motion Picture and Television Industry is one of the largest and fastest growing sectors, contributing USD 8.1 billion (c. INR 50,000 Cr.) to the country’s economy, equating to 0.5% of GDP, in 2013, according to a new report launched on March 12. The sector also supports a significant 1.8 million (18.8 lac) jobs.
Key Findings of the Deloitte Economic Contribution of the Indian Motion Picture and Television:
- Film and TV contribute c. USD 8.1 billion (c. INR 50,000 Cr.) to the country’s economy, equating to 0.5% of GDP.
- Total gross output of c. USD 18.5 billion, (c. INR 115,000 Cr.).
- Supports 1.8 million (18.8 lac) jobs.
The Indian Media and Entertainment Industry is estimated to be more than INR 905 billion in revenue, and is expected to grow at a CAGR of 16% to reach INR 1,640 billion by 2017. The Indian media and entertainment (M&E) industry has grown by 11.8 per cent in 2013, vis-à-vis 2012, and touched Rs 918 billion. It is expected to touch Rs 1785.8 billion by 2018, with a CAGR of 14.2 per cent. India’s media and entertainment business is expected to double in size to Rs.1.66 trillion by 2017, offering the prospect of being an employment generator without needing large public investments.
According to PWC data, over the coming five years, global entertainment and media revenues will continue to grow – in line with its historical trend – slightly behind global GDP. But this apparently consistent picture masks deep discontinuities, as digital drives revenue growth and spending diverges across different segments and countries. In 2018, non-digital media will continue to account for the largest share of global spending, TV will still be the biggest advertising medium, and the US will be the world’s biggest entertainment and media market. But – respectively – digital revenues, Internet advertising and China will all have dramatically narrowed the gap. This evolving environment will be characterised by six underlying shifts.
By the end of 2014, the industry is expected to stand at Rs 1039 billion. Additionally, 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.