Entertainment and Media: India and China to fuel growth
New Delhi: A recent report released by the consultancy firm, PricewaterhouseCoopers (PwC) has categorically stated that India and China are the two markets that are key growth drivers for the entertainment and media (E&M) industry. The global E&M industry is expected to grow at 6.3 per cent to $1.7 trillion by 2008 with the Asia-Pacific markets led by India and China expected to grow at 9.8 per cent to touch $ 366 billion.

According to the Global Entertainment and Media Outlook: 2004-08, "Asia Pacific is emerging as a key driver of E&M industry growth fuelled largely by India and China, both of which are investing heavily in communications and media infrastructure and opening up their markets. Both countries have huge populations and low media penetration, providing significant room for expansion." In terms of size, the US continues to remain the largest market and is projected to rise at 5.4 per cent to reach $680 billion in 2008 while markets in Europe, West Asia and Africa are expected to grow at a marginally higher rate of 5.5 per cent to touch $549 billion.

The advertising industry is also likely to remain buoyant. Global advertising spending is likely to increase by 5.3 per cent during the 2004-08 period, to touch $412 billion. Television advertising is projected to expand at a 6.5 per cent to touch $164 billion by 2008 boosted by new channels as well as advertising associated with the Olympic Games, and the FIFA World Cup.
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