Top News

Digital advertising, gaming to drive growth of media & entertainment industry: Survey

According to the
Economic Survey 2014-15 tabled in Parliament today, digital advertising and
gaming verticals are expected to drive growth of the Indian media and
entertainment industry in the next few years.

India is also
emerging as the new favorite of international studios, with 100% FDI permitted
in the film sector, the document said.

“With Rs
18.4 billion inflows, this sector contributed 1.6 % of the total FDI inflows in
India during April 2000-November 2014,” it said.

According to the
Economic Survey 2014-15 tabled in Parliament today, digital advertising and
gaming verticals are expected to drive growth of the Indian media and
entertainment industry in the next few years.

India is also
emerging as the new favorite of international studios, with 100% FDI permitted
in the film sector, the document said.

“With Rs
18.4 billion inflows, this sector contributed 1.6 % of the total FDI inflows in
India during April 2000-November 2014,” it said.

The survey said,
that Disney, Fox, Sony, and Warner Brothers have entered into co-production and
distribution deals with domestic production houses.

“Digital
advertising and gaming are projected to drive the growth of this sector in the
coming years,” said the survey.

The Indian media
and entertainment industry is estimated to have grown by 11.8 % to Rs 918
billion in 2013 and is projected to grow at a CAGR of 14.2% to reach Rs 1,786
billion by 2018.

The media and
entertainment industry
in the country comprises various segments including
television, print, films, radio, music, gaming & visual effects, animation
and digital advertising.

India is the
world’s third largest TV market after China and the US with 161 million TV
households. There are about 826 satellite television channels, 86 teleports,
243 FM radio channels, and 179 community radio stations.

Moreover, the
country’s broadcasting distribution network comprises of 6,000 multi system
operators (MSOs), around 60,000 local cable operators (LCOs), and seven direct
to home (DTH) operators.

In order to
further boost technology, the government has embarked on an ambitious project
of digitizing country’s cable network in four phases, leading to complete
switch-off of analog TV services by December 31, 2016.

India has
co-production treaties with 10 countries. In 2014, the government has accorded
permission for film shooting in India to 21 foreign production houses, it
added.

 

 

 

 

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close