Episode 1114
Entertainment industry in India
Fri, 2020-May-22 00:24 UTC
Length - 3:39
Direct Link
Welcome to random Wiki of the Day where we read the summary of a random Wikipedia page every day.
The random article for Friday, 22 May 2020 is Entertainment industry in India.
The media and entertainment industry in India consists of many different segments under its folds such as television, print, and films. It also includes smaller segments like radio, music, out-of-home advertising, animation, gaming and visual effects (VFX) and internet advertising. The entertainment industry in India has registered explosive growth in the last two decades making it one of the fastest-growing industries in India. From a single state-owned channel, Doordarshan in the 1990s there are more than 400 active channels in the country. Worldwide, 2010 saw the global economy begin to recover from a steep decline in 2009. Improved economic conditions in 2010 played a major role in a rebound in customer spend. Since the world economy began to recover from the global financial crisis of 2008, improved economic conditions played a major role in a rebound in consumer spending.
While India was not critically impacted by the downturn in 2008 and 2009, it demonstrated one of the highest growth rates this year and continued to at a healthy pace. The rising rate of investments by the private sector and foreign media and entertainment (M&E) majors have improved India's entertainment infrastructure to a great extent. As per the recent report by PricewaterhouseCoopers (PwC), Indians are likely to spend more on entertainment in the coming years with steady growth in their disposable income. And as per the combined survey report by KMPG and FICCI, the entertainment industry in India is expected to expand by 12.5% every year and is likely to reach US$20.09 billion by the year 2013. The industry pegged at INR 5808 billion in 2009 as compared to INR 3565 billion in 2005. The Indian media and entertainment industry grew from US$12.9 billion in 2009 to US$14.4 billion in 2010, a growth of 11 percent, according to a report by the Federation of Indian Chambers of Commerce and Industry (FICCI) and research firm KPMG. The report also states that backed by positive industry sentiment and growing media consumption, the industry is estimated to achieve growth of 13 percent in 2011 to touch US$16.2 billion. As the industry braces for exciting times ahead, the sector is projected to grow at a CAGR of 14 percent to reach US$28.1 billion by 2015.
This recording reflects the Wikipedia text as of 00:24 UTC on Friday, 22 May 2020.
For the full current version of the article, see Entertainment industry in India on Wikipedia.
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This has been Raveena. Thank you for listening to random Wiki of the Day.
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