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Sector Outlook

The Media And Entertainment is one of the fastest growing sectors in India. The increasing rate of urbanisation, the penetration of television and radio industry in the rural areas with the help of the technology and the rising levels of incomes of the people in India has facilitated the growth rate of Media And Entertainment industry in India. The Indian Media And Entertainment industry stands at the value of Rs 43,700-crore currently and is expected to grow at an annual growth rate of 19% to reach Rs 83,740 crore by 2010. The Indian economy is growing at a fast rate and the Media And Entertainment industry is expected to benefit significantly from it.

The Media And Entertainment industry grows faster than the gross domestic product growth (GDP) due to the elasticity of income. When incomes rise, people tend to spend proportionately more resources on leisure and entertainment then the necessities. India is poised to enter this phase of rapid growth in the sector. The Media And Entertainment sector is highly fragmented in India.

EMERGING TRENDS IN Media And Entertainment SECTOR

New distribution channels - The latest channel through which the consumers are obtaining entertainment is the mobile phones downloading movie clips, games, ringtones etc. Internet is also fast emerging as a widely used distribution channel.

The three main trends that have been observed during the last year are

Diversification by media companies

Increased foreign investment

CONVERGENCE
In the future, convergence is expected to have a significant impact on the growth of Media And Entertainment industry. Convergence can be defined as changing the way consumers consume content and the manner content is delivered to consumers.

"In television, we expect the balance of power to shift in favour of broadcasters with the adoption of alternative distribution platforms such as DTH (direct-to-home), CAS (conditional access system), and IPTV (Internet protocol television)," said Mr. Narasimhan, Head, Crisil Research.

The process of convergence is facilitated and accelerated by the rapid technological advances and the broadband throughout the world. Convergence is expected to change the traditional industry structures, the existing business models and distribution mechanisms.

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