Entertainment industry to hit $24 bn. by 2014

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Mumbai: The $13 billion Indian media and entertainment industry is seen growing 13 percent annually over the next five years to net revenues of $24.25 billion by 2014, says a report released on March 16.
The study by the Federation of Indian Chambers of Commerce and Industry (FICCI) made the projection based on the recovery staged by the industry in the last quarter of 2009, which, it feels, will continue in the future.
Speaking on the session, Shah Rukh Khan said the three basic needs of every Indian β€” food, clothing and shelter (roti, kapda aur makaan) β€” appeared to have been fulfilled for most.
β€œThere is now a fourth desire and that is entertainment and movies are a popular source of this fourth requirement. Another concept popularly emerging and posing to have a great future is sport entertainment,” he said.
β€œWe are at the threshold of a huge burst on the entertainment arena in India and entertainment is the packaging of a growing economy.”
The study also gives the following estimates of the size of various segments of media and entertainment industry in 2009 and the projection for 2014:
Television: From $5.71 billion to $11.58 billion
Filmed Entertainment: From $1.98 billion to $3.09 billion
Print Media: From $3.88 billion to $5.97 billion
Radio: From $173 million to $364 million
Music: From $184 million to $382 million
Animation: From just $71 million to $1.03 billion
According to the study, gaming will be the fastest growing sector in the media and entertainment industry. This sector grew 22 percent in 2009 and is expected to expand by 32 percent per annum to reach $711 million by 2014.

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