Indian cinema industry poised for phenomenal growth

By Staff
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Google Oneindia News

Chennai, July 15 (UNI) One of the oldest in the country, the Indian entertainment and media industry is poised to grow at 18.5 per cent Compounded Annual Rrowth Rate(CAGR) and reach Rs One trillion by 2011 and is projected to outperform the economic growth each year till 2011, according to Indo American Chamber of Commerce(IACC).

Its Chairman R Anand said this has been projected by the FICCI- Pricewaterhouse Coopers reports. The global entertainment and media industry itself is expected to grow at CAGR of 6.4 per cent to Two trillion US dollar during the same period.

This growth would be spurred by sharp growth in the digital media space, and traditional segments like TV, radio and films, according to Mr Anand.

This implies that the Indian media Industry's growth is around one per cent of the global media business, he said, adding the Indian media has the requisite potential to capture a much larger share in the expanding global media industry.

Indian cinema, one of the oldest Industries in the country with 9000 cinema halls, produces 800 films in a year, is experiencing a revolution compared to most of the other Industries in the country.

It has made rapid strides in the last few years, and has been undergoing a radical metamorphosis as one of the most serious and lucrative business today.

Private equity and other innovative and transparent financing options were also slowly making their way into India's film industry.

From the person at the ticket counter in a cinema hall to the usher inside the hall, the Indian film industry offers huge employment opportunity. Soft drink makers as well as cellphone manufacturers also get benefit from the so called embedded advertising in the films.

UNI

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