The impressive growth in the Indian film industry shows no signs of slowing, according to a report from PricewaterhouseCoopers (PwC).
The film industry grew 13% in 2007 to around $2.7bn. Overseas revenues and home video both showed even stronger growth, up 15% on 2006.
The report, released before next week's FICCI Frames conference in Mumbai (March 25-27), suggests that new technology, corporate investment and a growing Indian studio system have contributed to the success.
What's more, there are signs of still stronger forward momentum in the next five years. PwC is bullish about the prospects for new forms of distribution, particularly online.
Over the next five years, the report suggests streaming, downloading and video-on-demand will make a significant impact.
'Digitialisation is the future for most segments,' said PcW executive director in India Timmy Kandhari. 'The pace of adoption will determine industry dynamics.'
The overall Indian entertainment and media sector grew by 17% in 2007, beating the forecast growth of 15%, reaching $12.6bn from $10.8bn the previous year.
Frames is expected to attract 2,500 Indian and foreign delegates from nearly 20 countries over three days.
It will be opened by Indian Minister for Information and Broadcasting Priyaranjan Dasmunsi on March 25.