MOSCOW, September 17 (RIA Novosti) -The Indian entertainment and media industry is expected to reach $37 billion by 2018, with an annual growth rate of 15 percent, according to a report published by PwC-CII.
Revenues from both television subscription and advertising in 2013 increased by 15 percent from 2012.
"This growth was led by an increase in subscription revenue, driven by the ongoing process of digitization," the report said.
India is expected to be one of the fastest-growing markets in terms of television subscription revenue in the next few years.
According to the report, Internet access has been the fastest growing segment with annual growth rate of 47 percent. The annual growth rate of Internet advertising has been set at 26 percent.
In the next five years, the radio segment is expected to show stable growth rates of 17 percent annually.
Due to the increasing shift toward digital media, the share of print media is likely to decrease from 20 percent in 2013 to 14 percent in 2018, while the film segment is expected to decrease from 11 percent to 10 percent during this period.
The report concluded that the broadcast media sector is likely to continue to lead the Indian entertainment industry contributing to around 37 percent of its revenue by 2018, while Internet access expected to be the second-largest contributor with a 29 percent share.