Entertainment in 2008 may pull in Rs 42,300 crore

The Indian entertainment industry is expected to record a 17 per cent compounded annual growth rate (CAGR) to post Rs 42,300 crore in 2008 from Rs 19,200 crore recorded in 2003.

The industry grew 15 per cent to Rs 19,200 crore in 2003, outperforming the economy due to an increase in TV viewership and improved realisations from subscriptions, a Ficci-Ernst & Young study called ‘the Indian entertainment industry: emerging trends and opportunities’ said today.

The study also attributed an increase in viewership and realisations from film exhibitions as a primary driver for the growth.

Referring to the steps required to further boost growth of the entertainment further, it said rationalisation of entertainment tax and extension of concessions offered to multiplexes would help to push the growth.