New Delhi: India's entertainment and media industry size is likely to touch Rs 1.75 lakh crore by 2016 owing to sustained growth in advertising and rising consumer spend, a report has said.
In 2011, the industry was estimated to be Rs 80,000 crore, according to a report jointly done by CII and consultancy firm PwC.
"The potential game changers in the industry would be rising advertising and consumer spend, infrastructure and policy support," it said.
Television and print dominate the advertising segment in India. These segments are expected to play a central role in driving entertainment and media industry's growth, it said.
The advertising spend contributes about 35 percent of revenues in the entertainment and media industry, it added.
The study said rising disposable incomes combined with macro-economic stability will also drive rapid growth in consumer spend in the industry.
"Increased advertising and consumer spend will take the industry to desired heights. This will be fuelled by technological innovation leading to better quality of media content being consumed. Internet access will be a key enabler in driving the growth," PwC India Leader (Entertainment and Media Practice) Smita Jha said.
First Published: Sunday, October 28, 2012, 13:14