Chennai: The Confederation of Indian Industry (CII) Dakshin has launched South India Media and Entertainment Summit which was inaugurated Chief Minister M.K. Stalin today.
As part of the two days summit in Chennai happening on 9th and 10th April, CII Dakshin has also released a report titled ‘Regional is the new national – Way Forward for the South India Media and Entertainment Industry’.
South Media and Entertainment Sector Market Value Estimated at ₹ 70,000:
The report estimated that the South Indian Media and Entertainment sector comprising the four South Regional Markets had a market value of about ₹70,000 crore. Moreover, it revealed that the media and entertainment industry in South India is growing at a compound annual growth rate (CAGR) of 15 per cent making a post-crisis comeback.
Television is major contributor with larger share of 35%:
Resonating the national sentiment, the report confirmed that television sector is major contributor to Media and Entertainment market with a larger share of 35%. “It has been established as the most powerful medium of mass communication, ensuring its continued presence and potential for relevance in the face of advanced technological developments,” the report said.
The South Indian film industry market is estimated to be worth ₹6,050 crore by the end of 2022 and South Indian film industry is also set to grow at a compounded annual growth rate (CAGR) of 13%.
According to the report the South Indian Print Media industry market’s worth would be ₹9,900 crore by 2022, with radio, digital, OTT and music following close behind.
Streaming and Digital Media market in South is worth ₹16,200 crore:
With a compound annual growth rate (CAGR) of 25%, the South Indian streaming and digital media market was expected to be worth ₹16,200 crore by end of 2022, nearly two-and-a-half times the film revenues.
The report stated that Animation, Visual Effects, Gaming and Comics (AVGC) is the fastest growing sector at a CAGR of 30 per cent and is expected to account for up to 10 per cent of overall media and entertainment sector by 2030.
In his inaugural address TN CM Stalin assured the industry of all support from the State government including upgrading of infrastructure facilities. He also welcomed the awareness created by movies on ill-effects of smoking and drinking and urged the industry to create similar awareness about the ill-effects of Gutka and other Drugs.
