The Indian entertainment industry is expected to grow 18% annually during the next five years, according to a report released April 4 by PricewaterhouseCoopers in association with the Federation of In
NEW DELHI (The Hollywood Reporter) -- The Indian entertainment industry is expected to grow 18% annually during the next five years, according to a report released April 4 by PricewaterhouseCoopers in association with the Federation of Indian Chambers of Commerce and Industry (FICCI).
The report was presented on the opening day of the three-day FICCI-FRAMES conference on the business of entertainment, attended by industry leaders such as Motion Picture Assn. of America president Dan Glickman.
Deepak Kapoor, the head of PwC India, said the report predicts that the Indian industry will touch a size of more than 450 billion rupees ($10 billion) in five years. The largest contributor to this growth will be the TV sector, followed closely by film.
"The film industry will ride on the growth of multiplexes and digital distribution formats -- 18% year-on-year growth is also expected in this segment as in the case of television," Kapoor said. Growth in collections from the overseas markets as a result of better marketing and distribution setups, and the emergence of the home video market also will drive film growth.
Similar gains are projected for the Indian music industry, which is riding on a boom of Bollywood remixes.
Another emerging growth area is radio, a sector that was recently liberalized following the launch of private FM stations in leading metros during the last two years after the government awarded licenses to private players. The PwC report predicts radio revenue will grow 22% during the next five years.