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South India M&E market to grow from Rs 211.9 bn to Rs 360 bn by 2016: Deloitte
indiantelevision.com Team
MUMBAI: The media and entertainment industry in southern India is expected to grow at a compounded annual growth rate of 14 per cent over the next four years to reach a size of Rs 360 billion by 2016 owing to an evolving ecosystem and demand, according to a report released by Deloitte Touche Tohmatsu India.
The size of the South Indian media & entertainment industry is currently pegged at Rs 211.9 billion.
Television constitutes the largest component of the South Indian media and entertainment industry. Its size currently is pegged at Rs 122.2 billion accounting for a 58 per cent share of the market.
As per Deloitte estimates, television is expected to reach a size of Rs 225.4 billion by 2016, growing at a CAGR of 17 per cent.
The nascent radio market is expected to grow the fastest at a CAGR of 22 per cent. Radio will continue to be at the bottom of the ladder with a market of Rs 8.05 billion by 2016. The radio market is currently pegged at Rs 3.65 billion, which is a 2 per cent share of the overall market.
Behind television, print media is poised to be the second largest contributor to the South Indian media and entertainment industry with a market of Rs 91 billion thereby growing at a CAGR of 10 per cent. The print market currently stands at Rs 62.65 billion and has the second largest share of 29 per cent.
Buoyed by an ardent film following, the film market in south India stands at Rs 23.4 billion and is expected to grow at a CAGR of 11 per cent to reach a size of Rs 35.5 billion. Films have an 11 per cent share of the South Indian media and entertainment market.
Within the South market, Tamil Nadu is the biggest market at Rs 76.2 billion followed by Andhra Pradesh at Rs 64.8 billion. Karnataka and Kerala are estimated to be in the region of Rs 39.85 billion and Rs 31.05 billion, respectively.
According to the Deloitte report, Andhra Pradesh?s media and entertainment market is projected to grow at a rate of 14 per cent to become a Rs 112 billion market. Tamil Nadu and Karnataka are projected to grow at a rate of 14 per cent to reach a market size of Rs 129.95 billion and Rs 67.15 billion respectively.
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