New report from FICCI and KPMG predicts that the growth of digital services will put the Indian media and entertainment sectors on the road to recovery in 2010.
The Indian media and entertainment industries will begin to recover this year through the expansion of digital services despite a difficult 2009, according to a report from business organisation FICCI and auditor KPMG
The report also found that the media and entertainment industries grew by 1.3% last year compared to 12% in 2008.
It predicts that new media platforms, such as digital cable, DTH and IPTV, will help to put the industry on the road to recovery as more consumers sign up to subscribe. It also says that more localised content made or converted into regional languages will also help companies to tap into new markets.
The report will be presented to delegates at the three-day FICCI-Frames conference, which opens in March 16, by Ashok Chavan, Chief Minister of Maharashtra, and Ambika Soni, Union Minister for Information and Broadcasting. Actors Shah Rukh Khan and Katrina Kaif are also expected to attend the event.
The optimistic report also predicts that the country’s higher than average GDP growth rate and a predicted recovery, the media and industries are expected to grow steadily over the next five years.