South Indian entertainment, media to double by 2017
South Indian Entertainment, Media to Double by 2017, Deloitte and FICCI, The Digital March. The market is dominated by television at 56 percent, followed by print 28 percent and films 11 percent.
The size of media and entertainment industry in South India is expected to almost double to Rs.43,600 crore by 2017 from around Rs.23,900 crore now, according to a joint study by Deloitte and FICCI.
The report, titled “Media & Entertainment in South India - the Digital March”, said the growth in the industry would be mainly driven by popularity of vernacular content among the region’s populace and the evolving ecosystem, including endeavours by media vehicles to expand their presence.
While enabling regional media players to reach their target audience, the industry continues to attract national players to explore this growing South market.
The market is dominated by television at 56 percent, followed by print 28 percent and films 11 percent.
"Sectors such as New Media and Radio, though smaller than other mediums, are expected to grow at rates higher than the industry average, given their increasing power of engagement,” the report said.
Among the states, Tamil Nadu constitutes over one-third of the South Indian media and entertainment industry. The industry in Tamil Nadu is expected to grow at a slightly higher rate than the other states of the region, with all four media platforms expected to grow faster in the state.
"All media platforms viz. films, TV, print and radio are pushing content on the digital medium so as to enhance reach. Not only is the digital medium helping industry players reach wider audiences, it is also enabling them to establish a stronger connect with consumers,” said Kamal Haasan, veteran actor and chairman, Federation of Indian Chambers of Commerce and Industry (FICCI) Media and Entertainment Forum, South.