If the report released by the audit giant KPMG and FICCI (Federation of Indian Chambers of Commerce and Industry) is anything to go by, the Indian Media and Entertainment industry is looking at a potential growth of 14.2% which will amount to nearly 2 lacs crores over the next four years only. The media industry that is shifting mainly towards digitization witnessed a growth rate of 11.8% at the draw of 2012 and the commencement of 2013.
In the report titled ‘The Stage Is Set’, it was consented that, “The media and entertainment industry is expected to register a CAGR of 14.2 percent to touch Rs.1,78,580 crore by 2018.”
The Compound Average Growth Rate (CAGR) might reach digital advertising growth of 27.70% by 2018.
Punit Goenka, M.D of Zee, claimed that the sector employs a massive workforce, treading at six million which is why it is significant to the economic growth of the nation as a whole. In fact, in the next few years, mergers will be rampant since there are approximately 800 channels across India and nearly 250 pending licenses.
With digitization helping in the boom, for Bollywood as such too the times are both challenging and lucrative.