(Embargoed for publication/broadcast till Monday, March 13)

New Delhi, Mar 12 (UNI) The Entertainment and Media (E&M) industry in India is poised to grow at 19 per cent compound annual growth rate (CAGR) to reach Rs 83,740 crore by 2010, from its present size of Rs 5,300 crore, says the 2005 annual edition of the FICCI - PricewaterhouseCoopers report, belying fears of a downturn in the industry following a series of films failing to make a mark at the box office in recent years.

The report, which carries in-depth forecasts and analysis of six major industry segments - television, filmed entertainment, print media, radio and music, has projected the Indian film industry to witness an 18 per cent CAGR while the television industry is likely to witness a 24 per cent CAGR and the Radio grow by 32 per cent CAGR.

The highest growth of 50 per cent has been projected in the Internet advertising segment.

Among the other sectors, the print media is expected to grow by 12 per cent CAGR, live entertainment by 18 per cent CAGR, Music industry by 1 per cent CAGR, out-of-home advertising by 14 percent and Internet advertising by 50 per cent.

According to the report, 'Indian Entertainment and Media Industry -- Unravelling the potential', the key drivers that are likely to contribute to the growth of the Entertainment and media industry in the coming years are economic growth, rising income levels, consumerism, coupled with technological advancements and policy initiatives taken by the Indian government that are encouraging the inflow of investment.

In this context, the report says that numerous technical advancements in the film industry, coupled with increasing level of corporatisation are likely to result in the film industry growing from its current size of Rs 6,800 crore to Rs 15,300 crore by 2010, a compound growth rate of 18 per cent.

''Advancements in technology are helping the Indian film industry in all the spheres - film production, film exhibition and marketing.

The industry is increasingly getting more corporatised. Several film production, distribution and exhibition companies are coming out with public issues. More theatres across the country are getting upgraded to multiplexes. And initiatives to set up more digital cinema halls in the country are already underway. This will not only improve the quality of prints and thereby make film viewing a more pleasurable experience, but also reduce piracy of prints,''the FICCI-PricewaterhouseCoopers report says.

In the print media and radio segments, the rapid economic growth in India in recent years, coupled with several new policy initiatives by the government are likely to contribute to the growth in these segments, the report said.

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