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.