Media & Entertainment (M&E) industry grew by around 12 per cent in 2013, according to the annual FICCI-KPMG report. The economic slowdown had a negative impact on the advertising revenue dependent sectors, such as TV and print. The rupee depreciation also affected print, cable and DTH companies adversely, but helped export-oriented sectors such as animation and VFX to some degree. The film industry recorded a double digit growth, albeit slower than in 2012, with multiple movies scoring big on box office collections. Approximately 90-95 per cent movie screens are now digitised in the country, with a shift in focus to tier II and III cities. Going forward, multiplex growth is expected to slow down, in line with the overall delays and commercial real estate development, impacting box office growth in the short term. The print sector grew at a CAGR of 8.5 per cent this year to reach Rs 24,300 crore. Regional markets performed exceedingly well on the back of steady advertiser spends, state election impact and new launches. However, with the validity of IRS data called into question by the industry majors, the sector in the short term suffers from the lack of a robust measurement system, critical for decisions on media planning and allocations. Digital media advertising in India grew faster than any other advertising category. Streaming and download services continued to see growth in the music industry, with the growth in mobiles, in particular smartphones, contributing significantly to increased consumption of music ‘on-the-go’.

(The Hindu)