Tuesday, November 23, 2010

Gaming, animation to boost growth of Indian media

India currently gets only 10 per cent of the global animation and gaming contracts and the Indian Animation and Gaming industry, with an annual growth rate of 32 percent, stands at $739 million, according to a research report by Deloitte. MUMBAI, INDIA: The Indian media industry is likely to get a huge boost from the gaming, broadcasting and animation industry in the country, which is expecting a substantial increase in revenue in coming years from increased thrust on global outsourcing of content.India currently gets only 10 per cent of the global animation and gaming contracts and the Indian Animation and Gaming industry, with an annual growth rate of 32 percent, stands at $739 million, according to a research report by Deloitte.

The Indian Media and Entertainment (M&E) industry stood at $12.9 billion in 2009, and over the next five years is projected to grow at a compound annual growth rate (CAGR) of 13 percent at $24.04 billion by 2014. Additionally, the gaming segment is expected to be the fastest growing sector with a CAGR of 32 percent to reach $705.2 million by 2014, while the animation segment is expected to record a CAGR of 18.7 percent in the next five years, the report said. The industry will also benefit from an increased thrust within India on increasing budgets, superior quality movies and animation content, it added. The onset of third-generation wireless technology will help promote the gaming industry while increased digitisation will benefit the broadcasting sector, the report stated

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