India's media and entertainment sector is estimated to grow 11.8 per cent to Rs 91,700 crore this year, against Rs 82,000 crore last year, owing to digitisation, growing regional media and the coming elections, the Federation of Indian Chambers of Commerce and Industry (Ficci)-KPMG Media & Entertainment 2013 report has said.
It added by 2017, the sector was expected to touch Rs 1,66,100 crore.
In 2011, the Indian media and entertainment sector was estimated at Rs 72,800 crore. "While 2012 was a challenging year for the industry, with some improvement likely in the global economy in 2013 and India's real gross domestic product expected to grow 6.1-6.7 per cent, the prognosis for the industry looks much better," the report said.
The television segment would continue to dominate, the report said, adding new media sectors such as animation were growing at a faster rate. Films and music were also making a comeback, owing to strong content and the benefits of digitisation, the report added. The radio segment is expected to grow at a compounded annual growth rate of 16.6 per cent between 2012 and 2017, after the phase-III licensing.
The report said last year, advertising expenditure across media grew nine per cent to Rs 32,740 crore. Print accounted for 46 per cent of this. In 2011, the expenditure rose 13 per cent, while in 2010, it increased 17 per cent. On March 12-14, Ficci would organise its annual Ficci Frames event in Mumbai. The annual conclave of the media and entertainment sector would discuss ways to "maximise the economic and creative potential" of the segment.
Issues to be discussed at the conclave include digitisation, censorship, marketing, exhibition and distribution. At the event, information ministers from various South Asian nations would form a panel to forge ties to augment growth.