India Entertainment Industry to Grow at 17 Pct/Year

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Revenue from India's entertainment industry is likely to grow at a compound
annual rate of 17 percent to $9.4 billion in 2008, an industry consultant
said. Revenues for the industry -- which includes films, radio, television
and live events -- grew by 15 percent in 2003 to $4.2 billion. Growth will
come from an improved distribution landscape, greater revenues from cable
subscriptions, expansion of digital film technology and increased
consolidation across segments, according to a report by Ernst & Young. "But
the industry continues to be hamstrung by piracy, high entertainment tax
rates and the slow acceptance of institutional funding for films," said
Farokh Balsara, head of the media and entertainment practice at Ernst &
Young. Revenues for India's film industry, the world's most prolific, stood
at $1 billion in 2003 and are estimated to expand at a compounded annual
growth rate of 18 percent to $2.2 billion by 2008.

Source:
http://www.reuters.com/newsArticle.jhtml?type=industryNews&storyID=4569519