The Indian media and entertainment industry grew 11 percent in 2010, driven largely because of a jump in advertising revenue, an FICCI-KPMG report said.
* Forecasts industry to grow 13 pct in 2011
* 2010 ad spend rose 17 pct to 266 bln rupees
The report forecasts the 652 billion Indian rupee ($14.5 billion) media and entertainment industry to grow by 13 percent in 2011.
The resurgence in advertising, growth in subscription revenues, thrust on digitization, and emerging avenues for content monetization were the key growth drivers for the Indian media and entertainment industry in 2010, Rajesh Jain, head of media and entertainment at KP said.
Advertising spend in 2010 rose by 17 percent to 266 billion rupees, the report said. However going forward, it will become imperative for media companies to reset their business models and build greater focus on profitability and changing consumer preferences, Jain said.
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