Media, the fourth estate, when entwined with the entertainment component represents an effective facet of consumers in India. Technology has played a key role in influencing the entertainment industry, by redefining its products, cost structure and distribution.
The Indian Media and Entertainment (M&E) industry stood at US$ 12.9 billion in 2009 registering a 1.4 per cent growth over last year, according to a joint report by KPMG and an industry chamber. Over the next five years, the industry is projected to grow at a compound annual growth rate (CAGR) of 13 per cent to reach the size of US$ 24.04 billion by 2014, the report stated.
The television industry is projected to continue to be the major contributor to the overall industry revenue pie and is estimated to grow at a rate of 12.9 per cent cumulatively over the next five years, from an estimated US$ 5.69 billion in 2009 to US$ 10.45 billion by 2014, as per a report by PwC.