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Executive Summary Indian Entertainment & Media Industry 2008

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Executive Summary Indian Entertainment & Media Industry 2008 8 Executive Summary Indian Entertainment & Media Industry 2008 Overview of 2007 Performance of Indian E&M Industry in 2007 6.2 billion in 2007, up from Rs. 5 billion in 2006. In the last four years 2004-2007, the radio industry recorded the second-highest cumulative growth of The E&M Industry is now in a phase of steady growth 37% on an overall basis after online advertising. ably supported by the stable economic growth in the country. With no suprises, the performance of the indian entertainment & media (E&M) industry has surpassed The entertainment portion of the animation, gaming the performance of the indian economy as well as most and VFX industry (now included in the overall size other industries in 2007. of the E&M industry) grew by 24% over the previous year and is estimated at Rs. 13 billion in 2007, up from Rs. 10.5 billion in 2006. In 2007, the E&M industry recorded a growth of 17% over the previous year, higher than the forecasted growth of 15% projected in the previous year. The Television industry was the other industry which industry reached an estimated size of Rs. 513 billion in recorded a growth higher than the overall growth of the 2007, up from Rs. 438 billion in 2006. In the last four industry in 2007, having recorded a growth of 18% over years 2004-2007, the industry recorded a cumulative the previous year and is estimated at Rs. 226 billion in growth of 19% on an overall basis. 2007, up from a substantially large base of Rs. 191 billion in 2006. In the last four years 2004-2007, the television industry recorded the third-highest cumulative The advertising industry itself recorded a growth of growth of 21% on an overall basis after online 22% over the previous year and thus contributed an advertising and radio. estimated Rs. 196 billion in 2007 as compared with Rs. 161 billion in 2006. In the last four years 2004- 2007, the advertising industry recorded a cumulative Print media, the other large traditional media growth of 20% on an overall basis. segment other than television and filmed entertainment, recorded a growth of 16% over the previous year and is estimated at Rs. 149 billion in Though different segments of the industry grew at 2007, up from Rs. 128 billion in 2006. In the last different rates, the highest growth was recorded by four years 2004-2007, the print media industry the smallest segment in the industry- online recorded an impressive growth of 15% on an advertising. This segment grew by 69% from the overall basis, significantly higher than any other previous year, albeit from a low base of Rs. 1.6 country in the world. billion in 2006 to Rs. 2.7 billion in 2007. Its share in the overall advertising pie grew to 1.4% in 2007, up from 1.0% in 2006. In the last four years 2004- Filmed entertainment recorded a steady growth of 14% 2007, the segment recorded a cumulative growth of over the previous year and is estimated at Rs. 96 billion 65% on an overall basis. in 2007, up from Rs. 85 billion in 2006. In the last four years 2004-2007, the film industry recorded a cumulative growth of 17% on an overall basis. The next highest growth was recorded by the out- of-home advertising industry (OOH) at 25%- the segment grew to an estimated Rs. 12.5 billion in Globally, the music industry is under-performing and 2007, up from Rs. 10 billion in 2006. In the last the trend is similar in India. The overall music four years 2004-2007, the segment recorded a industry grew marginally by 1% in 2007 and stands cumulative growth of 14% on an overall basis. at an estimated Rs. 7.3 billion in 2007. Though digital music has come to the rescue of the Indian music industry, its current small size is unable to Radio industry too recorded an impressive make good the decline in the physical music sales, performance in 2007, having recorded a growth of which saw a decline of 2% over the previous year. 24% over the previous year and is estimated at Rs. Indian Entertainment & Media Industry 2008 Executive Summary 9 Indian Entertainment & Media Industry Rs. billion 2004 2005 2006 2007e CAGR 2004-07 Television 128.7 158.5 191.2 225.9 % Change 23% 21% 18% 19% Filmed Entertainment 59.9 68.1 84.5 96.0 % Change 14% 24% 14% 14% Print Media 97.8 109.5 128.0 149.0 % Change 12% 17% 16% 15% Radio 2.4 3.2 5.0 6.2 % Change 33% 56% 24% 37% Music 6.7 7.0 7.2 7.3 % Change 4% 3% 1% 3% Animation, Gaming & VFX - - 10.5 13.0 - % Change 24% Out-of-home advertising 8.5 9.0 10.0 12.5 % Change 6% 11% 25% 14% Online advertising 0.6 1.0 1.6 2.7 65% % Change 67% 60% 69% Total E&M Industry 304.6 356.3 438.0 512.6 19% % Change 17% 23% 17% 10 Executive Summary Indian Entertainment & Media Industry 2008 Indian Advertising Industry CAGR Rs. billion 2004 2005 2006 2007e 2004-07 Television Advertising 48.0 54.5 66.2 80.0 % Change 14% 21% 21% 20% % Share 42% 42% 41% 41% -1% Print Advertising 54.4 62.7 78.0 94.0 % Change 15% 24% 21% 20% % Share 48% 48% 49% 48% 0% Radio Advertising 2.4 3.2 5.0 6.2 % Change 33% 56% 24% 37% % Share 2.1% 2.5% 3.1% 3.2% 14% Out-of-home Advertising 8.5 9.0 10.0 12.5 % Change 6% 11% 25% 14% % Share 7.5% 6.9% 6.2% 6.4% -5% Online Advertising 0.6 1.0 1.6 2.7 % Change 67% 60% 69% 65% % Share 0.5% 0.8% 1.0% 1.4% 38% Total Advertising 113.9 130.4 160.8 196.4 % Change 14% 23% 22% 20% Indian Entertainment & Media Industry 2008 Executive Summary 11 Key Trends in Media Consumption - 2007 Growth in media audience As per the data released in IRS 2007, in the last m four years, India’s population has grown by 92 Growth in Media: Gender million individuals i.e. a growth of 12.5%. Of this, the media audience has increased by 86 million 300 60 individuals i.e. a growth of 18.4%. High growth in 50 200 40 television- cable and satellite subscribers and FM 30 radio listeners is driving the growth in media 100 20 % Growth audience as per the research carried out. 10 0 0 Any TV Any TV Any Any Internet C&S Publication Radio Rural is the new urban Females Males % Growth Men % Growth Women As per IRS 2007, the country is witnessing higher growth in literacy rates, better growth in females working and moving towards smaller household sizes. Further, rapid urbanisation is concurrently escalating the working population along with growth Growth of Media: Pop strata m1 in the extreme ends of the strata- SEC A as well as 80 Sec E. 70 60 50 40 30 20 10 0 U+R 40 L+ 10-40 L 5-10 L 1-5 L <1L Rural Any TV Any TV (C&S) Any Publication Any Radio Internet Media Audience -All India m 600 555 70 500 469 63.8 453 60 400 389 Growth in Media: Urban SEC m 50 40.1 315 305 300 38.8 255 252 242 40 60 182 24.8 50 200 168 % Growth Figs in mn 18.3 25 26 30 16.5 121 131 40 97 105 100 59 20 30 0 0 20 Any Any Any Any Any Any Any FM Internet Media TV C&S Pub Daily Radio Radio 10 0 2003 R2 2007 R1 Growth % SEC A SEC B SEC C SEC D SEC E Any TV Any TV (C&S) Any Publication Any Radio Internet 12 Executive Summary Indian Entertainment & Media Industry 2008 Key Trends in 2007 Television Industry of brands advertised by these advertisers grew by 23% in 2007 as compared to the year 2003. The Launch of new TV channels average number of advertisements per day on a channel in 2007 increased by 50% as compared to 2003 The year 2007, as in the previous 3 years, saw several new channels launched. However, what was unique in 2007 was the launch of two new ‘General Increased investments in the sector Entertainment channels’ (GEC) – INX Group’s 9X and NDTV Group’s NDTV Imagine in a space has As in the previous year, the television segment saw been dominated by three incumbent channels Star the maximum number of investments and alliances Plus, Zee TV and Sony for several years. Both both from financial standpoint as well as from the these channels were launched by ex-executives of strategic point. Some of the strategic alliances in Star Plus and their respective teams 2007 include NBC Universal picking up a 25% stake in NDTV, Viacom and Network18 joint-venture Implementation of CAS in select areas for launching television channels and foraying into film production and Turner forming a joint venture with Miditech to launch television channels. On January 1, 2007, mandatory Conditional Access (CAS) was introduced in India, starting with select regions in the top 3 metros of India- Delhi, Mumbai Digitalization of delivery platforms and Kolkata. Chennai was the only other metro city where CAS was previously present. As this was a Digitalization is setting in the Indian television new development for India, the implementation of distribution network.
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