Wednesday, June 29 2022

The media and entertainment industry in South India is growing at a compound annual growth rate (CAGR) of 15%, making a comeback from the crisis, a report from the Confederation of India said on Saturday. Indian Industry (CII). The Southern industry is currently valued at around Rs 74,900 crore.

The report, titled “Regional is the New National – The Way Forward for South India’s Media and Entertainment Industry“, was released by Tamil Nadu Chief Minister MK Stalin on Saturday during a a CII Dakshin – South India Media and Entertainment Summit. According to the report, the TV sector contributes a larger 35% share of the media and entertainment market. “It has been established as the most powerful mass communication medium, ensuring its continued presence and potential relevance in the face of advanced technological developments,” the report states.

The South Indian streaming and digital media market is expected to witness a massive boom with a CAGR of 25% and an expected value of around Rs 16,200 crore by the end of 2022. “With the upcoming introduction of Metaverse, this sector is expected to show the most promising growth,” he added.

Animation, Visual Effects, Games and Comics (AVGC) is the fastest growing industry with a CAGR of 30% and is expected to account for up to 10% of the entire media industry and entertainment by 2030, the report adds. According to media reports, South India’s film industry is also expected to grow at a CAGR of around 13% worth around Rs 6,000 crore, while the printing industry is worth around Rs 9 Rs 900 crore by the end of 2022.

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