Media and Entertainment Industry to recover in 2010: FICCI Report
Indian cinema can look forward to a more profitable future ahead. According to a FICCI-KPMG report, after hitting a rough patch in 2009 due to economic slowdown, the Media and Entertainment (M&E) industry is poised to start recovery in 2010.
Films was a sector which registered a negative growth during the last year. In 2010, it is expected to recover with an almost flat or moderate growth rate.
One of the factors which is expected to drive the growth in the industry is increase in penetration and subscription of digital services, the report said.
The report notes that rising disposable incomes of the working population even in smaller cities will impact the M&E industry favorably. Aspirations of Indian players to go global and foreign players entering the industry will also help the industry target a double digit growth in next 5 years.
The FICCI-KPMG Report will be released at FICCI FRAMES 2010 in Mumbai on March 16, 2010 by Ashok Chavan, Chief Minister of Maharashtra, and Ambika Soni, Union Minister for Information & Broadcasting. Actors Shah Rukh Khan and Katrina Kaif are expected to be present at the event. Yash Chopra who is the Chairman of FICCI Entertainment Committee and Karan Johar, Co-Chairman, FICCI Entertainment Committee will also attend the event.
FICCI FRAMES 2010, the annual Media and Entertainment Business Conclave of FICCI (Federation of Indian Chambers of Commerce and Industry) will be held in Hotel Renaissance, Mumbai from March 16-18.